#Russian Bank Partners to Launch #ICO, Zimbabwe Court Lifts Crypto Ban, Uphold Completes XRP Integration and CryptoKitties Gets Sued

Crypto Corner - May 25, 2018

Russian Bank Partners to Launch ICO, Zimbabwe Court Lifts Crypto Ban, Uphold Completes XRP Integration and CryptoKitties Gets Sued

Russian bank and financial services company Sberbank and the National Settlement Depository (NSD) have announced that they will test out an initial coin offering (ICO) on the Bank of Russia's regulatory platform. Sberbank's press release yesterday quotes Senior Vice President of Sberbank and Head of Sberbank CIB, Igor Bulantsev:

"Sberbank CIB believes that the Russian ICO market is very promising. Many of our clients have shown an interest in this method of financing and we intend to actively promote this service by driving the institutionalisation and popularisation of ICOs after the corresponding legislation is passed."

Zimbabwe's Harare High Court has reversed a central bank ban on cryptocurrency trading. According to CCN, the Reserve Bank of Zimbabwe (RBZ) did not appear in court proceedings after Zimbabwean crypto exchange Golix sought a reversal of the ban. CCN reports that Nhlalwenhle Ngwenya, communications manager at Golix told them "The ban was lifted" yesterday and include the Harara High Court Order in the piece.

Uphold, Inc., a mobile payments platform, has announced its "full functionality" with the "XRP ledger". The press release outlined the demand among its customers for access to XRP:

"Uphold has now satisfied an increasing need to provide its members with full access to Ripple's fast-growing ecosystem. As the third most popular cryptocurrency, with a current market cap of $26 billion, there is a clear demand for XRP and enabling full connectivity provides users with over 1,500 currency pairings."

Axiom Zen, the creator of Ethereum-based game app CryptoKitties, is being sued for trade secret misappropriation, according to a report in VentureBeat. The suit was filed in the U.S. District Court of Los Angeles by Starcoin (or Tradestar). Jevon Feinblatt, CEO of Starcoin, said in an email to VentureBeat:

"that Tradestar engaged in e-mail communications with Axiom Zen in February 2018 to discuss collaboration on development. Tradestar disclosed confidential details about a to Axiom Zen many confidential details, including a digital Stephen Curry collectible trading card. Although Axiom Zen reportedly signed a non-disclosure agreement, it recently announced that it had created its own Stephen Curry collectibles."

Sam Mowers Investorideas.com

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