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CLS Group Posts Uptick in March FX Volumes as Markets Remain Active

FX swap demand last month even crossed the record achieved by the company in March 2020.




CLS Group, a major foreign exchange settlement provider, reported positive growth in trading activities in March across all offered forex instruments. The company posted an average daily traded volume of $1.977 trillion for the month, which is 1.8 percent higher than February’s numbers.

The increase in the demand can be seen across forward, swap, and spot FX markets, where the company is operating. The demand for FX swaps leaped the highest last month with around a 3 percent jump to $1.377 trillion from February’s $1.353 trillion. It was even higher than what the company recorded in March 2020 when the entire financial market saw extreme volatility due to the Coronavirus breakout.

Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!

The forward and spot FX market also jumped higher by 2 percent each to $0.117 trillion and $0.483, respectively. However, the overall monthly figures remained lower than what the FX settlement provider reported a year ago.

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Following the Industry Trend

“In the first quarter of 2021, we witnessed record average daily traded volumes of USD1.95 trillion, demonstrating a consistent increase of FX market activity year-on-year,” said Keith Tippell, CLS’s global head of product. “This was despite a 10% decrease in overall volumes in the month of March 2021 compared to the record highs in March 2020, driven by the extreme market volatility relating to the COVID-19 pandemic.”

Tippell further elaborated that a significant portion of the FX demand was generated by two currency pairs, USD/JPY and USD/HKD, as both recorded a monthly uptick of 15 percent and 38 percent, respectively.

Meanwhile, the company is expanding its industry footprint with more and more partnerships. In the past few months, Capitolis and BGC Group tapped CLS to enhance their FX services.

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ContinuumBlockLegs May Blockchain Legislation Summit Friday May 14




Continuum Market and Kristina Bruhahn, present #ContinuumBlockLegsMay Blockchain Legislation Summit, the global virtual summit monthly meeting series with upcoming dates kicking off Friday, May 14th aims to foster US State & Federal Bipartisanship and Global Cross-Border policy discussions and consensus to create safe harbors of commerce in blockchain.

Bring your curiosity and connect with a global community through breakout sessions and networking receptions. Participate in main stage content and roundtables on blockchain policy, blockchain brands and product offerings, and the latest in blockchain and cryptocurrency investing.

Participants will have the opportunity to listen to our May Blockchain Legislation Experts.

  • Gerard Dache Founder & Executive Director, Government Blockchain Association (GBA)

○       Well Known for leading a global organization and supporting organizational members in their pursuit of blockchain based solutions to public sector challenges.

  • Mark Waser, Chief Technology Officer, Government Blockchain Association (GBA)

○       Well Known for his 35+ years of experience in AI, machine learning, business intelligence, and blockchain-based crowd-sourcing and collective intelligence.

  • Dina Ellis, Senior Legislative Advocate and Government Affairs Specialist, Paul Hastings

○       Well known as an influencer in Washington DC for FinTech, JOBS Act, Crypto, STO, Blockchain and DeFi Legislation

Global Blockchain Association Report: The impact on cryptocurrency adoption on government, a study produced by the government blockchain association tax working group

Tickets are available at  Sign up today!

United in the mission to create safe lanes of commerce faster than legislation has ever been crafted before, trusted blockchain brands actively want to work with State and Federal Legislators throughout the fast paced 2021 docket.

Continuum’s monthly #BlockLegs series exists to expedite these critical conversations and connect to blockchain consumers. We keep the tables open all weekend so you can leave a message for the legislators of the US and all Cross Border Payment Global Policy if you were not able to be there Friday night.

We want your voice to be heard. We want you to understand these issues. We want you to be informed and we want your informed voice to echo in global legislation enabling safe commerce.

Hopin provides a familiar conference virtual experience with stage, sessions (roundtables) and networking 1-1.

Together, we are teaching the world to speak Blockchain. Join the conversation.

Expo Booths and Roundtables are available all weekend to foster discourse and collaboration.

This Global Cross-Border and US Bipartisanship inclusive event is brought to you by  #Continuum3000

Continuum Transparency Marketplace | Blockchain for the 100%

Our audience consists of all levels of Blockchain Interested Consumers; Wall Street, Affluence Network, Blockchain Brands, Blockchain Legislation & Thought Leaders, Crypto Celebrities, Blockchain Newbies, Blockchain Accredited Education and more.

Continuum Market evaluates Blockchain products called Cryptocurrencies, identifying their underlying asset attributes and resulting behaviors in consumer adoption and trading markets.

For 3 years, Continuum Markets has identified Crypto Correlations to Global & US economy indicators such as VIX, Nasdaq 100, SP 500, Libor, Nikkei 225, Futures & Open Interest, GDP for US, EU, Brexit, China, GCC/MENA, Precious Metals, Edible & Non-Edible Commodities. Dashboards & APIs coming in Q2 2021.

Continuum uses data science and natural language processing to create beautiful and easy to understand dashboards and analytics so you can benefit from our insights.

Data Dashboards, Analytics and Insights

Blockchain Networking & Deal Flow

Education & Skills for the New Economy

Comprehension | Community | Commerce | Credibility

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Samsung Facilitates Blockchain Use on Galaxy Devices




Samsung issued an official announcement to inform users that they will now be able to manage and trade cryptocurrencies from third-party wallets directly on Samsung Galaxy smartphones.

This update will provide blockchain users with a more convenient and faster way to process transactions between digital assets, by transferring funds from cold storage wallets to the Samsung blockchain.

Samsung’s Galaxy series smartphones currently also support hardware wallets including Ledger Nano S and Ledger Nano X.

Since the Samsung Blockchain KeyStore first launched in 2019, there have been four cryptocurrencies supported by the wallet: Klaytn (KLAY), Ethereum (ETH), ERC-20 tokens, Bitcoin (BTC), and TRON (TRX).

It also expanded its encryption products to decentralized applications (DApps). There are now more than 40 Dapps integrated on Samsung’s blockchain platform, and developers can build their own applications on this basis for applications in finance, social media, and even the video games industry.

For the management of virtual currency, the security of the device is of utmost importance. The private keys used for cryptocurrency and DApps are encrypted and stored in an area isolated from the main operating system.

Samsung Electronics wrote:

“This information is further protected by a secure processor and can only be accessed by providing the asset owner’s PIN or fingerprint.”

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/samsung-facilitates-blockchain-use-galaxy-devices

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Bitwise Launches Crypto Industry Innovators ETF

Bitwise has announced the launch of its ‘Bitwise Crypto Industry Innovators ETF” (BITQ) that offers investors exposure to companies in the crypto sector.




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Crypto asset management firm Bitwise has announced the launch of its Bitwise Crypto Industry Innovators ETF (BITQ) that offers investors exposure to companies in the cryptocurrency sector. The Bitwise Crypto Industry Innovators ETF is already live on the New York Stock Exchange with the ticker BITQ. The index captures the companies engaged in the crypto sector and has at least $100 million of liquid digital assets on their balance sheet.

Bitwise Launches Crypto Industry Innovators ETF (BITQ)

Asset management firm Bitwise has designed a Bitwise Crypto Industry Innovators ETF (BITQ) focused on thirty companies in the crypto market with at least $100M of liquid crypto assets on the balance sheet.

READ  Enjin Coin Became First Authorised Gaming Crypto by JVCEA

Also, these companies must have 75% of income derived from cryptocurrencies or have 75% of their net assets in crypto.

In the announcement release, Matt Hougan, CIO of Bitwise, said:

“Like e-commerce and mobile before it, crypto is a disruptive technology creating massive opportunities for new companies to emerge as winners. Until recently, most great crypto innovators were private companies, but that’s changing rapidly. Today, there’s a growing set of public companies capitalizing on crypto, and more to come. BITQ aims to identify these businesses and give investors access.”

Previously, Bitwise applied with the SEC to launch such a fund, but the firm withdrew its application from the regulatory agency earlier this year.

Hunter Horsley, CEO of Bitwise, says that BITQ aims to make crypto investment opportunities available through traditional investing platforms:

READ  Bitcoin Price Will Rally To $100,000: Binance CSO

“With BITQ, our aim is to make crypto investment opportunities available through traditional investing platforms and a familiar, liquid, and cost-effective ETF. We are thrilled to see this space continue to grow as investors increasingly gravitate toward this transformative asset class.”

Bitwise 10 Crypto Index Fund Available to Investors on OTC Market

With over $1.5 billion in assets under management, the firm has previously launched a number of crypto index funds, including a DeFi index. Currently, Bitwise sponsors over five other crypto-related funds namely, Bitwise 10 Crypto Index Fund, Bitwise DeFi Crypto Index Fund, Bitwise Bitcoin Fund, Bitwise Ethereum Fund, and Bitwise 10 Index Offshore Fund.

Most are private placements available only to accredited investors but the Bitwise 10 Crypto Index Fund is made available to all investors on the OTC market.

READ  Bitcoin Satoshi Vision (BSV) Unconfirmed Transactions (Mempool) Spike

#BITQ #Bitwise #Bitwise Crypto Industry Innovators ETF

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Hong Kong in Talks with China to Stretch Cross-Border Testing of Digital Yuan

After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing.




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After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing. This has marked yet another step toward wider adoption of the currency.

Hong Kong to Stretch Testing of Digital Yuan to China

The Monetary Authority of Hong Kong has recently conducted tests with the Digital Currency Institute of the People’s Bank of China.

In addition to this, the Hong Kong Monetary Authority said in an e-mailed response to the questions asked that it involved a bank designated by the mainland authority, as well as the merchants and bank staff.

The e-mailed response said:

“We have tested the use of the related app, system connectivity, and certain use cases such as cross-boundary purchases.” 

Along with this, the statement said:

“We are discussing and collaborating with the PBOC on the next phase of technical testing, including the feasibility of broadening and deepening the use of e-CNY for cross-boundary payments.”

Also, it should be known that the People’s Bank of China is pretty ahead of other major central banks in the development of its own digital currency.

The bank is looking forward to replacing cash and maintaining control over a payments landscape that has become increasingly dominated by technology companies not regulated like banks.

Payment Infrastructure Underpinning e-CNY can Address Substantial Portion of Cost Base

As revealed in the report released on Wednesday by Oliver Wyman, the usage of the Digital Yuan in Hong Kong could lead to a much faster and cheaper cross-border payment and clearing process. 

Michael Ho, the Principal of Financial Services at Oliver Wyman and Co-Author of the report said:

“If the payment infrastructure underpinning e-CNY were to roll out for cross-border payments at scale, we believe it can address a substantial portion of this cost base.”

China could promote the overseas use of digital yuan starting with the Greater Bay Area, a massive urban cluster that includes Shenzhen, Macau, and Hong Kong.

READ  Diginex Introduces In Singapore To Start Derivative Product Trading

#Cross-border transactions #Digital Yuan #Hong Kong

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