Bitcoin Daily: Diginex, UN Agency Unveil Blockchain Tool Rollout; State Street Joins Forces With Gemini Exchange

Blockchain firm Diginex and the United Nations Migration Agency announced the rollout of a tool that is based on the blockchain in an effort to keep migrant domestic workers from exploitation, according to a press release.

The International Recruitment Integrity System Self-Assessment for Ethical Recruitment (IRIS-SAFER) tool is being created for use by representatives from 1,500 migrant domestic recruitment agencies based in Hong Kong, in addition to associated agencies in worker-sending nations. Hong Kong has nearly 390,000 migrant domestic workers. The release said that “the use of blockchain technology — essentially a set of immutable, secure, data records — will strengthen data management and enforce data integrity, which allows for a higher level of transparency and visibility.”

On another note, State Street Corp. is teaming with Gemini Trust, the digital currency exchange and custodian, on a new trial that looks into digital asset reporting scenarios, Coindesk reported. In the end, the effort is aimed at letting investors bring together the reporting of digital assets that Gemini stores with traditional assets that State Street services. The pilot will monitor a reporting procedure for ether as well as bitcoin that are held in the custody service of Gemini. While the digital currencies were selected because of liquidity, other digital assets, with the inclusion of tokenized securities, can be brought into the system.

In other news, one of the biggest asset managers in the world, Fidelity Investments, is growing its institutional digital asset business with expansion into Europe, Coindesk reported.

The new business will be provided by the New York-state chartered Fidelity Digital Asset Services (FDAS), which was rolled out last year and provides trade execution and custody services to institutional investors based in the United States. The firm has appointed Chris Tyrer, who worked as a managing director at Barclays Investment Bank in the past, as the head of FDAS in Europe. The executive will head up client service activity.