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Canaan Creative seeks to break records with billion dollar IPO – Daily News Roundup

May 10th 2018: In today’s news Canaan Creative hopes to become the first blockchain company on Hong Kong’s market with IPO, Coinone becomes the first exchange on the Ripple network and Bloomberg teams with billionaire business mogul Michael Novogratz.

Massive Hong-Kong mining producer looks for creative way to launch IPO

Anonymous sources who are knowledgeable on the matter told Chinese news source SCMP that Canaan Creative is looking to raise $1 billion USD for the public offering.

Reportedly the company had attempted to list an IPO on China’s A-share market in 2016, but the attempt was unsuccessful when regulators were unhappy with the deal’s proposed valuation. Canaan Creative tried another strategy last year to list on China’s “New Third Board” market but again was met with closed doors despite the fact that that particular market is less harshly regulated.

If the plan is a success, this would be the first reported case of a company focused on blockchain technology to be listed on Hong Kong’s markets – a step for Canaan Creative and a potential step for cryptocurrency to make an impact in non-cryptocurrency related markets.

Coinone to make waves on Ripple’s network with new remittance service

Ripple has announced that South Korean cryptocurrency exchange Coinone is joining their blockchain networks for inter-country payments.

This is remarkable as the exchange – one of Korea’s largest – will be the first of its kind to link up with Ripple. In a press release from Ripple, Coinone will be leveraging the power of RippleNet to use xCurrent, Ripple’s leading blockchain for payments across borders.

Since Coinone Transfer is the arm of the exchange that focuses on remittances and data shows that remittances have flowed consistently from South Korea over the last decade, it is with excitement that Ripple made the announcement.

Ripple state that in June, “xCurrent will power the launch of a new remittance service called “Cross” for Coinone Transfer’s retail customers” which will “address the country’s growing demand for faster and cheaper payments across the region.”

Bloomberg teams up with billionaire Novogratz to bring new crypto-index

Bloomberg along with Michael Novogratz’s Galaxy Digital Capital Management has launched a cryptocurrency index designed to track the portion of the performance of cryptocurrency market.

According to an announcement from the media company, the index, – named the capitalization-weighted Bloomberg Galaxy Crypto Index (BGCI) – will track the “performance of the largest, most liquid portion of the cryptocurrency market”.

The two companies have said that the newly launched index uses a method based on rules and data which is derived from sources that both companies have reviewed and accepted.

Regarding the project, Alan Campbell, Bloomberg Indices’ global product manager said that the index “will provide investors with a transparent benchmark to gauge the performance of the broader market”.