Crypto News: UPS Invests in Blockchain and Circle Stablecoin Fully Backed

Crypto News

All major cryptocurrencies are seeing red again today. This week has brought higher-than-normal volatility for most of the top digital currencies on the market, making investors scratch their heads. Today, we’ll take a look at the latest trending crypto news.

Crypto News: UPS Invests in Blockchain

Today, the top crypto news is surrounding the logistic giant, the United Parcel Service (NYSE:UPS). It was announced that the investment arm of the shipping company made an undisclosed equity investment in the US enterprise blockchain company, Inxeption. This UPS investment will be used to create innovative new e-commerce solutions for B2B sellers and buyers.

“Inxeption’s technology is attractive to UPS because it helps unlock new efficiencies for customers using B2B e-commerce platforms,” said Kevin Warren, UPS Chief Marketing Officer. “UPS creates alliances and partnerships to gain market knowledge and position the company as the shipper of choice in ecommerce.”

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Inxeption began operations back in 2017 and aims to use blockchain technology to improve various processes for businesses. A primary focus for the company is supply chain, something UPS could highly benefit from. This is positive crypto news, considering the number of recent hacks that are driving down investor confidence.

Crypto News: Circle Stablecoin Audit Report Released

Along with the UPS news, the other big crypto news released today was in regards to Circle’s stablecoin (USDC). The auditing firm Grant Thornton released an attestation report yesterday confirming its USDC coin being fully USD-backed.

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This is also great crypto news, as there has been vast skepticism on stablecoins across the board. The report confirms:

“In our opinion, the Reserve Account Information in the accompanying Reserve Account Report as of December 31, 2018 at 11:59 PM UTC is correctly stated, based on the criteria set forth in the Reserve Account Report, in all material respects.”

While this doesn’t speak for all stablecoins, it’s good for investors to know they can trust the Circle stablecoin.

Featured Image: Depositphotos © kun2512

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