MAYBANK Preparing To Get The New Digital Banking Licence in Singapore

MAYBANK Singapore is preparing to apply for the new digital banking licenses. Alvin Lee, Head of the Community Financial Services revealed that MAYBANK Singapore could be trying to grab one of the five digital banking licenses. Reported in Business Times, Alvin Lee also revealed that the Bank is in talks with its head office in Malaysia on the matter.

This all started at the end of the June 2019, when Monetary Authority of Singapore (MAS) chairman ‘Tharman Shanmugaratnam’ and its regulators announced that the government would be issuing five digital banking licenses for the non-bank finance industries. From these five digital banking licenses, two would be full digital license and rest three would be digital wholesale licenses.

The purpose of a digital full-bank license is to enable the non-bank finance industries to provide a wide range of financial services to retail customers while a digital wholesale bank license is meant to serve SMEs and other non-retail segments.

Though all the existing banks do not need these additional licenses to run a digital bank, as informed by the regulators. This can help the country to make new and better changes in the Singapore banking.

After this announcement, Maybank is now is applying for a new license, in an attempt to create a proposition with the new value. It looks like they might seek a partnership with OCBC as well as it is rumored that OCBC is in talks with Singtel to get in a partnership.

Also, in the same report, Alvin was quoted saying that they are looking for a tech partner and can be ‘fin’ (in fin-tech). He continued revealing that currently, they are working for the Malaysian head as their regional partner.

The application is due by October 2019, and by the end of 2019, Maybank will issue the license. Seeing the opportunity, apart from MAYBANK, various non-bank players have also shown their interest in this new digital banking licenses.

Surge In Shares of Overstock As CEO Patrick Byrne Quits

Online retailer Overstock’s shares surged 15 percent on Thursday after CEO Patrick Byrne resigned. The resignation followed the news of his involvement in FBI probe into Russian espionage involving former U.S. presidential candidate Hillary Clinton. Rattling the investors, this news had triggered a 30% drop in Overstock’s shares earlier in the month.

In a letter addressed to investors Byrne said: “While I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties with Overstock, both as CEO and board member.”

He confirmed a report by Fox News contributor Sara Carter that he had a relationship with Maria Butina, a Russian agent currently lodged in a U.S. prison. Butina had revealed her part in the conspiracy to influence U.S. conservatives and Republicans.

“On any normal day, my presence is not conducive to strategic discussions regarding our retail business. I believe that going forward, my presence will definitely not be conducive to such strategic discussions,” Byrne stated in his Aug 11 letter.

A libertarian with a Ph.D. in philosophy from Stanford University, Byrne is a major proponent of blockchain technology and cryptocurrency. He had spent a decade battling short-sellers targeting the Overstock while it pitted against rivals such as Inc (AMZN.O) and eBay Inc (EBAY.O).

On Thursday, he celebrated the company’s executives with pop culture and cinema references, such as calling the CMO “Commander Data,” from Star Trek.

The stock had fallen more than 70 percent from record highs in January 2018, when Overstock massively gained from Byrne’s plan to launch a digital token.

As of now, the company is more targeted by short-sellers than 99% of companies in the United States. As per S3 Partners analytics, the total short-bets against Overstock stand at $267 million, balancing almost 50% of its float.

In a press statement, Overstock updated the appointment of company veteran Jonathan Johnson as interim CEO.

Bitcoin Reaches its Monthly Low after a 5% Drop

Bitcoin has been down by almost 5% over the last 24 hours, and it has been trading below $10,000. In the previous 30 days, the BTC has been through four phases of price shifts.

Bitcoin Price Analysis

Bitcoin got its first push between 30th July and 06th August and this push of 30.16% added $2832.29 to the BTC. However, this growth could not have lasted long, and it took a shift of 21.67%, and Bitcoin price fell to $9570.32 by 15th August. The third swing of the month came on 15th August, and by 19th August, it managed to reach $10,905.08. Since then, BTC has been showing volatility and an overall decline in the price. As per the latest figures, Bitcoin has lost 12% value and reached to $9592.02. The Market Cap on 29th July was $170,719,683,821, and the price of Bitcoin was $9559.47. The current Market Cap and the value of each coin are respectively 0.81% and 0.51% more than the data for last month.

Bitcoin Chart by TradingView


Bitcoin has lost a huge amount and fallen to a level near its monthly low. However, this situation is not going to find an antidote anytime soon. The details of the next resistance and support levels are described below:

R1: $10116.97, R2: $10479.52 and R3: $10679.68

S1: $9554.26, S2: $9354.10 and S3: $8991.55

US regulators become cautious of the cryptocurrencies after Switzerland visit

Anticipating the outcomes of the recent visit to the country by US finance officials, the regulators still haven’t given a clean chit to Facebook’s long-awaited cryptocurrency launch, Libra.

This probably because once Facebook launches the currency, it will become far more widespread and prevalent than one can think. Given the already resurfacing illegal activities in the light of what is termed as “trading on the dark web”, Libra will fuel the fad.

Moreover, concerns about its compliance with the nation’s financial and regulatory laws have been worrying the stakeholders. However the makers of Libra have reassured the officials that Libra would meet all the monetary, financial and anti-drug and fraud laws of the countries in which it tends to operate.

Based on the statement released on Aug 25 of a committee’s official, the members of the House of Representatives Financial Services Committee visited some swiss government officials and regulatory bodies including, State Secretariat, International Financial Matters, and the commissioner, Federal Data Protection and Information and Supervisors of the Financial Markets.

As said in the last month, the officials wanted to clear the air on how various Swiss lawmakers will control the functioning of Libra and be aware of its intensity of the benefits and consequences. Waters after the visit stated that:

“While I appreciate the time that the Swiss government officials took to meet with us, my concerns remain with allowing a large tech company to create a privately controlled, alternative global currency.”

Waters, the chief of the US regulatory body, has been particularly critical of Libra due to Facebook’s previous nature and doings with the user data and security issues, stating that it has a “proven history of refraining from the laws that keep customer data secure at a place just like the case of Equifax.”

After Facebook launched the Libra whitepaper early this year, Waters asked Facebook to stop its progress of Libra so that authorities can look into the project with a deeper understanding. According to her, any possible complication overlooked can have drastic consequences on the nation and its economy and as well as the government policies. To put this to an end, Marcus spoke in an interview that Facebook commits to aligning the project to follow all proposed laws till the time the issue of Federal Reserve regarding the project were taken care of.


One of the biggest e-commerce giant Amazon Inc., opened its largest campus building in the world in Hyderabad’s financial district, South India. It prepares for expansion and fights with its long-standing rival Walmart Inc.

The facility of this big giant is spread over 9.5 acres, which comprises of three million square feet built-up area. Amazon Inc. is the first owned office building outside the US, which has a capacity three times more than the number of people, the US building does. Due to its huge build-up area, it is the single largest building in the world. At present Amazon has 62,000 employees working for it only in Hyderabad in India. It was inaugurated by Telangana Home Minister Md. Mahmood Ali, Amazon Vice-President Global Real Estates and Facility Director John Schoettler and Amazon-India Senior Vice President and Country Manager Amit Agarwal.

The campus was built in three years period with few special facilities like interfaith player room, mother’s room, quiet room, showers, helipad, and 24 hours open cafeteria. The huge area is located near Rajiv Gandhi International Airport and plans to expand it to 580,000 square feet by next year.

As per the statement of Amit Agarwal, Amazon will also provide space for the company’s tech manpower, software developers, and machine learning scientist, etc in this campus. There is already a migration of 4500 employees done to these new premises, and many more are expected to join this team from other lease facilities.

India has a very small portion of retail consumption. Therefore, there is so much to grow an e-commerce business as per Agarwal.

Macro conditions such as inflation, unemployment, monetary, and fiscal policy would rarely affect the condition of the largest e-commerce industries in India.

Amazon Inc. has done an investment of $5 billion so far, and another $500 million will be invested in food retail. Agarwal also added that Amazon had stepped up exports from India to $5billion over the next couple of years and it has already crossed $1 billion within two years of its launch.  There will be more facilities for services like AWS, Kindle, Alexa, and Amazon Home Services, which is provided on things like doorstep pick-up and electronics repair. Amazon Inc. is also investing in other sectors within the nation. Local media have reported, Amazon investing in food delivery, negotiating with multiple food companies to kick start this line of business.

“The largely untapped country is critical to the global domination plans of both Amazon and Walmart,” creating employment in India’s e-commerce sector.

NEO Price Analysis: NEO up by 5% since yesterday, is NEO aiming to touch $11.23?

Neo did not start off that well as per the period of our analysis. It was as low as $10.81 on 24-July-19 at 04:20 UTC time. There were several sharp rises over the next day and the coin managed to reach up to $12.40 on 25-July-19 at 12:55 UTC time. The next major drastic fall for the coin was on 27-July-19 when it fell to the level of $11.13 at 10:25 UTC time. Post 27-July-19 it seemed to be that the coin was moving at a stable pace, however it saw a sharp fall again yesterday when the prices reached $10.61 at 22:30 UTC time. Since yesterday, it seems that the coin has managed to come back in the game and is slowly rising upwards. We anticipate that NEO will continue with the bullish run tomorrow as well.

Let us observe the performance of the coin since 24-July-19:

Current Data of NEO:

  • NEO is ranked at number 16 as per today’s data.
  • Market value of NEO was $791,711,939 at 09:34 UTC time.
  • Price of the coin is $11.15 at 09:50 UTC time.
  • 24-hour volume figures are $270,129,197
  • 70,538,831 NEO coins continue to be the same since many weeks.
  • ROI of the coin stands at 6,037.16%.

NEO Price Comparison and Future Predictions:

Comparing the price of NEO since the lowest value of $10.61 and today, the coin at present is indicating a bullish trend by 5%.

Experts believe that NEO may reach $11.23 by tomorrow. After about a period of 7 days or so, it may continue to rise further and can touch $11.63. By the end of 2019, NEO has all the potential to beat its previous best and can reach as high as $12.92.


It is suggested to sell the NEO coins today. You may also purchase the new coins after a few days’ time and advisable to retain the same for at least 2 and more years. The kind of haphazard movement that the coin has shown over the past 5 days, it is not recommended to trade on the coin with a short term purpose. By the year 2021, NEO can touch even greater heights and can go as high as $15. If NEO continues to rise upwards, the next major resistance levels for the coin may be seen at $12.08 and $12.63 respectively.

EOS up to $4.05, has shown growth of 7% over the last 5 days

EOS price movement over the past 5 days has been quite unstable. It reached a low of $3.76 on 18-July-19 at 13:50 UTC. There was a sharp rise on the same day, and prices seemed to rise upwards before it saw a sharp fall the next day. From 19-July-19 EOS price slowly started to rise upwards and reached as high as $4.46 on 20-July-19 at 22:25 UTC. However, since this date, the coin has not been able to maintain the same pace. While writing, the coin seemed to rise upwards slowly, and we anticipate that the same trend may continue for another few weeks.

EOS Price Analysis & Future Forecast-

Comparing the price of EOS since its lowest point of $3.76 and today, the present trend indicates a bullish run by 7%. By the end of the day tomorrow, EOS may reach its calculated pivot value of $4.17, and after about a month’s time, it can go up to $4.70.

EOS has good capacity to reach $10 by the end of the year, trading in the coin on short term basis may not be that fruitful. Chaikin Money flow indicator reflects an upward movement of the coin. The coin has really bounced back quite well in the last 5 days, and we predict that it may rise further from hereon. If it continues with the same trend, the next major resistance levels can be seen at $4.56 and $4.73 respectively.

5-Day EOS Price Chart-

VeChain (VET) Price Prediction: There is a Relative Stability in The Movement of the Crypto, Launched a Bounty Program for Dapp Developers

Meta Data: VeChain has shown some strengthening in the last couple of days. The long term trend is bullish while the short term is still bearish.

There is a piece of good news for dapp developers as VeChain launched a new bounty program in order to boost decentralized apps development on the blockchain. Additionally, the foundation has decided to launch a VTHO subsidy program. For all those developers who agree on implementing native fee delegation features to their application, the organisation is planning to relaunch an updated VeChainThor Supercharger program.

Current Statistics (July 19, at UTC 09:08):

  • VeChain (VET) vs USD was trading around $0.00558568.
  • Against Bitcoin, the altcoin was valued around 0.00000054 BTC per chip.
  • VeChain (VET) is currently placed at 33rd position in cryptocurrency chart.
  • Additionally, the market capitalisation of the coin was around 309,186,308 USD.
  • On top of that, the 24-hour trading volume in the altcoin was 29,839,263 USD.
  • The number of VeChain chips circulating in the market, at the above mentioned time, was 55,454,734,800 VET.
  • At the time of writing, the return on investment in VeChain was 62.93%, but in the negative.


On June 24, VeChain (VET) was trading around 0.00718071 USD. Nevertheless, over the period of 25-days, the crypto has undergone a substantial decline of 22.21%. In a similar way, the digital coin has made a dip of 18.60%, in a week of trading, from the market price of 0.00679878 USD on July 13. But, the cryptocurrency has strengthened a bit in yesterday’s trading, where it opened around 0.005451 USD and with a strengthening of 5.10%, wrapped the day at 0.005730 USD.


VeChain (VET) has shown some good signs in the last few days, where the crypto has been in the green zone. The coin is expected to go up from these levels and as per our analysis, it will trade around 0.01 USD in the long term. The immediate resistance for the coin is at 0.005892 USD and the support level is at 0.005439 USD.


The latest announcement of the bounty program will drive a number of potential developers toward the blockchain and ultimately toward the VeChain ecosystem. As far as trends are concerned, the long term is bullish at the current level. However, the short term appears to be an unpredictable one.