Bitcoin

Bitcoin Daily: UBS CEO Is Bullish On Blockchain, Swiss Crypto Fund Receives License

Cryptocurrency

Crypto Fund AG, a subsidiary of Crypto Finance Group, says that it has received a license from the Swiss government to distribute funds, Reuters reported. The Financial Market Supervisory Authority (FINMA) reportedly granted the license, which will allow the company to distribute collective investment schemes. “Getting the FINMA license is a big step in the right direction, to establish us as the first point of contact for crypto assets,” Crypto Fund AG Chief Executive Jan Brzezek said in a statement.

Blockchain is taking to the skies, with The Brussels Airport rolling out a blockchain-based app, Supply Chain Dive reported. The app, which is named Freight Management App 1.0, seeks to take away the need for physical papers as a shipment moves from a carrier to a third-party logistics provider (3PL). But the project is not the airport’s last app: The program is said to be one of multiple apps that will link to the airport’s cloud.

Cryptocurrency enthusiasts can generate crypto and get a workout at the same time, Alphr reported. English bike manufacturer 50cycle has created a bike dubbed Toba that allows users to create LoyalCoin. It’s not an easy journey, however: Cyclists will need to bike 1,000 miles to generate £20. But 50cycles Founder Scott Snaith has bigger plans.

“At the moment we are working with LoyalCoin to reward our customers, but eventually the Toba bikes will have their own digital coin, which will become one of thousands of currencies of the future, and the Toba will allow riders to become an integral part of its growth,” Snaith told Cycling Industry News.

In other news, UBS Group CEO Sergio Ermotti thinks that blockchain presents an “opportunity” in the long term, CNBC reported. “It’s almost a must,” Ermotti told CNBC. “The freeing up of resources to become more efficient will come through technology, and blockchain is a great way to allow us to … reduce costs.”

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