Bitcoin Daily: Rakuten Secures Crypto Exchange License; LVMH Launches Luxury Retail Blockchain


Louis Vuitton label owner LVMH is reportedly gearing up to roll out a crypto provenance platform that has the code name  AURA, CoinDesk reported. AURA is said to come online in May or June with Louis Vuitton, along with Parfums Christian Dior. As it stands, the crypto provenance platform has reportedly been created via a version of the Quorum ethereum blockchain. And the company has reportedly had a blockchain team working full time for more than a year. LVMH counts famous brands such as Hublot and Dior as well as Dom Pérignon. The group reportedly had revenues of $53 billion last year.

And Japan’s Financial Service Agency (FSA) has said that Rakuten’s new digital currency exchange, Rakuten Wallet, is now registered as a virtual currency exchange provider with Kanto Local Financial Bureau under the Payment Service Act, CoinDesk reported. The eCommerce firm had previously acquired the Everybody’s Bitcoin Inc. exchange last year for $2.4 million. It, however, noted that it was concluding the older service. Users, in turn, could sign up for the new Rakuten Wallet. On a similar note, the FSA said it issued DeCurret a license. The exchange reportedly will offer spot trading of four digital currencies in the country.

In other news, DragonEx said on its Telegram channel that it suffered a hack — digital currency that was owned by the exchange and users was “transferred and stolen,” CoinDesk reported. The outlet reported that the exchange took down its platform due to purported system upgrades on Sunday (March 24) and said it was “still working on system maintenance” prior to saying that it had experienced a hack. DragonEx said in a Telegram announcement on Monday (March 25), “Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets.” The company also said that “all platform services will be closed and the accurate assets loss/recovery situation will be announced in a week.”





New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.