IBM Backs New US Dollar-Pegged Stablecoin That Runs on Stellar Network

A new project for a U.S. dollar-pegged stablecoin that runs on the Stellar blockchain network has received backing from IBM, Reuters reports July 17. The new asset is dubbed ‘Stronghold USD’ after its creator, fintech startup Stronghold. The token launched today, and is reportedly issued using a 1:1 price ratio with the U.S. dollar. It is the first ever stable-value crypto project to use…

Mastercard Files Patent for Payment System Linking Blockchain Currency, Fiat Accounts

Mastercard has filed a new patent for consumer protection and payment transactions based on blockchain technology, according to a US Patent and Trademark Office (USPTO) patent filing published July 17. The new patent application includes a new form of a public blockchain-based method for linking assets between blockchain and fiat currency accounts. Mastercard’s patent describes the method for “managing fractional reserves of…

Bank of America Reveals Blockchain Patent for External Data Validation

Bank of America (BoA) has filed a patent for a blockchain-based system allowing the external validation of data, according to a United States Patent and Trademark Office (USPTO) patent filing released July 17. BoA’s patent filing proposes using blockchain for tracking resource information and confirming resource transfers, noting that “A need currently exists for providing a…

Coinbase Retracts Announcement of Regulatory Approval to List Coins Considered Securities

Crypto exchange and wallet Coinbase has retracted its previous statement that it received approval from the U.S. Securities and Exchange Commission (SEC) to trade in securities, Bloomberg reports July 18. Last week, Coinbase reported that it could now operate as a broker dealer, offering digital tokens considered to be securities, after its acquisition last month of Keystone Capital Corp., Venovate Marketplace Inc., and…