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Paxtradings Crypto Minute: June 8, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: June 8, 2018

Coinbase Acquires Financial Services Firm to Become SEC-Regulated Broker Dealer

According to cointelegraph, Coinbase has expanded its potential breadth of services by acquiring securities dealer Keystone Capital Corp. in addition ro Venovate Marketplace, Inc. and Digital Wealth LLC. The acquisition could help the San Francisco-based exchange extend its offerings and subsequently expand into non-crypto financial products. In the announcement, the company said it’s looking to “work with regulators to tokenize existing types of securities,” which the exchange believes will “democratize access to capital markets” for companies and investors in the industry. Asiff Hirji, President and Chief Operating Officer of the exchange, said:

“If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This step forward is being made possible by our acquisition of a broker-dealer license.”

Opening Up Envilope — The World’s First Blockchain-Based Postal Service

In a digital world rife with hacking and data theft, data security and privacy are a big deal. For example, earlier this week, Ancestry site MyHeritage announced that 92 million customers had used its DNA testing service had been compromised. Envilope provides additional email security, and puts the sender in total control of their personal information.

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