Last week, we saw two major corporations — Western Union and Microsoft — provide updates on entering the cryptocurrency and blockchain spaces. Additionally, the Swiss Financial Market Supervisory Authority weighed in on ICOs and categorizing tokens.
Market Overview
- Western Union announced this week that it is testing transactions using Ripple, effectively confirming their long-rumored partnership.
- Microsoft has stated that it sees the potential for public blockchains in supporting decentralized identities and has plans to explore the possibilities within its Microsoft Authenticator app.
- The Swiss Financial Market Supervisory Authority has said that when assessing ICOs and classifying tokens, it will focus on the “economic function and purpose of the tokens,” as well as the “underlying purpose of the tokens and whether they are already tradable or transferable.”
