Bitcoin Daily: Gemini Teams With Samsung For Mobile Crypto Access; Russia Seeks To Put Mortgage Records On Masterchain

Gemini Trust Co. is teaming with Samsung Electronics Co. to let users exchange and keep digital assets on smartphones in an easier fashion, Bloomberg reported.

Gemini is said to be the first digital currency exchange to allow Canadian and U.S. Samsung blockchain wallet users to see their balances in the wallet app. While clients who want to make a trade will be sent to the app of Gemini, they will not have to log in again to begin purchasing as well as selling. Samsung rolled out its blockchain wallet last year, while Gemini has had a separate mobile app since 2018.

In other news, the central bank of Russia is mulling placing mortgage records on a ledger initiative known as Masterchain, CoinDesk reported.

An official said in a digital governmental meeting that a pilot that was rolled out in the past with a decentralized depository technology for digital mortgage bonds had a positive result. The official said per the report, “We suggested to the government that we refine the project to the point when all kinds of transactions needed for the digital mortgage issuance can be done on Masterchain.”

The FinTech Association, which is supervised by the Bank of Russia, rolled out Masterchain in 2017.

Meanwhile, digital currency firms that have been harshly impacted by the pandemic’s economic effect have had a request for a $103 million bailout turned down by the government of Switzerland, CoinDesk reported.

The finance director for Zug, which is in the vicinity of Zurich, had been denied a request for help for blockchain startups via a sovereign wealth fund per local media, as cited in the report. The official had reportedly intended to make loans to local upstarts that could be changed over to shares. Digital currency and blockchain companies have cautioned about their impending fall as private funding diminished.

Zug, for its part, is sometimes referred to as “Crypto Valley” for the many blockchain and crypto startups located there.