BitPay Onboards Client With 1M Customers, ECB Focuses On Retail CBDC + More News
Crypto

BitPay Onboards Client With 1M Customers, ECB Focuses On Retail CBDC + More News

Source: Adobe / Sergey Ryzhov

Crypto Briefs is your daily bite-sized summary of cryptocurrency and blockchain-related news – examining the stories that fly under the radar of current crypto news.
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Crypto Adoption News

  • Large crypto payment processor BitPay announced the first major international furniture brand to go live, Beliani, a European-based international web-only seller of furniture and home accessories. More than 1 million customers in 16 countries in Europe purchased furniture from Beliani, BitPay said, adding that for new crypto customers, the retailer offers a GBP 100 (USD 123) discount on purchases of GBP 400 or more.
  • As the European Central Bank (ECB) is now also working on a central bank digital currency (CBDC), the main focus is on a retail CBDC, says Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the ECB’s Supervisory Board. While a wholesale CBDC limited to a limited group of financial counterparties would be “largely business as usual,” a retail CBDC accessible to all would be a game changer, Mersch said. One of the many ways to design a CBDC could be retail CBDC based on digital tokens, which would circulate in a decentralized way, without a central ledger, and allow anonymity towards the central bank, or may be based on deposit accounts with the central bank.
  • Payment platform Crypto.com (CRO) has announced its Pay Checkout plugin for Ecwid, an e-commerce platform that they claim operates more than 1 million online stores in 75 countries. The announcement says that on Ecwid these merchants can now accept BTC, ETH, LTC, XRP and CRO through the Crypto.com Pay Checkout plugin.
  • Securrency, Inc., a developer of blockchain-based institutional-quality financial and regulatory technology, has announced a strategic partnership with investment management and banking Musharaka Capital. According to the press release sent by email, the partners will work to develop a compliant digital securities issuance platform in Saudi Arabia. Their common goal is to support the growth of the private sector, small and medium-sized enterprises and innovation that would lead to the development of the capital market.
  • Fresets, a crypto wallet provider, has become the newest new member of the Japan Security Token Association (JSTA), per Zaikei, and the second crypto wallet company to join, after the competitive wallet company Ginco, which joined the JSTA last month. The JSTA was formed by six major brokers in late 2019, and the number of members grew rapidly in the first half of 2020.

Blockchain news

  • The Chinese Ministry of Employment has officially recognized two new blockchain-related jobs, per PingWest. The official list included 10 new additions, including “blockchain engineering technician” and “blockchain app operator,” a sign that Beijing is increasingly seeking to legitimize and promote the blockchain industry in the country.
  • A South Korean province is going to roll out digital ID cards with blockchain technology, reports Money today. South Gyeongsang Province has announced that the initiative will come as part of a new government-developed digital platform for public services Raon Secure, and enables residents to use citizen digital ID cards in public libraries and leisure facilities, with blockchain-powered student ID cards also in the pipeline.

Exchanges news

  • Crypto exchange Binance has invested in Indonesian crypto exchange Tokocrypto. Per the announcement, the funding will be used to accelerate the growth of Tokocrypto’s business, including new products and services, technology improvements, nationwide expansion and new blockchain education initiatives in the region. Tokocrypto was established in early 2018 and in 2019 it became the first cryptocurrency exchange regulated by the Indonesia Commodity Futures Trading Regulatory Agency.
  • Huobi China develops blockchain solutions “aimed at fighting the coronavirus pandemic”, per Phoneix new media. The Chinese branch of the Huobi Formerly based in China, but now headquartered in Singapore, crypto exchange has reportedly only engaged in blockchain-related business since it tentatively returned to the Middle Kingdom following the September 2017 crackdown, with crypto exchanges still are prohibited on the mainland.
  • OKCoin has hired Haider Rafique as chief marketing officer and Megan Monroe-Coleman as compliance officer. Rafique was most recently Head of Growth at a large crypto company Blockchain.com, while Monroe-Coleman last served as Senior Director of Compliance at crypto exchange Coinbase. The new hires follow the appointment of the former Goldman Sachs executive Hong Fang as CEO of OKCoin.

Investment news

  • Blockdaemon, a node management blockchain infrastructure platform serving institutions and developers, has announced a $ 5.5 million strategic funding round from venture capital firms focused on blockchain technology, including Hash key, CoinShares, Blockchain.com, Kenetic, SPiCE VC, and Fenbushi Capital, as well as early investors Comcast Ventures, Teacher Hippeau, Boldstart, and Heavybit. According to the press release sent by email, Blockdaemon opens an office in Germany and partners with the Frankfurt School of Finance & Management, and expand their presence in the Asia-Pacific markets.
  • A São Paulo court has issued a ruling suggesting that cryptocurrencies cannot be used as collateral in business contracts, reports Criptopassion. An appeals court in the Brazilian state rejected a request to accept a cryptocurrency package as collateral at a tax bill of approximately USD 22,000. However, the media report states that the appellant’s crypto interests were in a little-known altcoin token, a factor that may have influenced the court’s decision.

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James Donald
James Donald writes for the Crypto section of Select News 91. He is an economic expert with a special interest in the unregulated currency system. He believes that the future of the planet lies in the unregulated system and that cryptocurrency is only beginning its journey. Whether his prediction is true or not, his skills certainly show his ability to analyze trends and dissect policy decisions. His column talks about the various cryptocurrencies failing and succeeding in a market that is nowhere near saturation.

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