Nonfungible Tokens and the Future of Commerce

The unlimited potential of blockchain technology is unleashed when used in conjunction with nonfungible tokens. Close your eyes and imagine the future.

China’s CBDC Project to Collaborate With More Domestic Enterprises

A major Chinese e-commerce platform and a video sharing site have reportedly joined China’s CBDC project. Development of China’s central bank digital currency, or CBDC, continues to show signs of progress.

Hacker Group Amassed $7M in Crypto by Selling Stolen Credit Cards

Hackers profited over $7 million by selling the data via dark web. A hacker gang known as “Keeper” established an interconnected network to steal credit card data from over 570 e-commerce sites.

China's top fintech, e-commerce companies continue blockchain bets

Data from SCMP’s 2020 China Internet Report shows healthy fundraising activity in China’s internet tech sector while fintech and e-commerce companies continue to explore blockchain tech potential.

Food and Cash Shortages Push Cubans Toward Permissionless Cryptocurrencies

The Nation of Cuba is dealing with a national food crisis, as Venezuela has stopped offering aid to the small island nation.

Biggest Corporations Sceptical of Introducing Crypto Payment Option

Are traditional business enterprises ready to embrace a blockchain-based payments network? Maybe not, according to two research reports. The news that PayPal, the payments giant with 325 million active user accounts worldwide, was considering the direct sale of crypto assets — along with custodial services — had the crypto community buzzing last week, even if the reports couldn’t be verified.

Localbitcoins 2019 Revenue Rises 10% to $29.6 Million Amid Increased Paxful Competition

Peer-to-peer (P2P) crypto exchange Localbitcoins has reported that 2019 revenue rose 10% to $29.6 million from $27 million a year ago.

BitPay Adds SegWit, BlockFi Doubles Revenue, 3 News From Cardano + More

This is our daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news Major crypto payments company BitPay added support for SegWit in their wallet as an optional feature, and enhanced integration with Coinbase to enable users to directly manage their Coinbase

After Years of Resistance, BitPay Adopts SegWit for Cheaper Bitcoin Transactions

Payments processor BitPay has added support for SegWit, three years after a competing block size proposal fractured the Bitcoin community.

Alibaba leads blockchain patent race

Data shows that China’s e-commerce giant leads the way in awarded blockchain patents, with Chinese and US firms aggressively filing to stake out protection for their IP.

LocalBitcoins Revenue Up 10% Despite KYC Impacting Market Share

LocalBitcoins reported a 10% increase in annual revenue for 2019 despite the platform's KYC overhaul impacting trade volume on the platform. Veteran peer-to-peer (P2P) crypto marketplace LocalBitcoins has reported annual revenue of nearly $29.5 million for 2019. The revenue comprises a roughly 10% increase over 2018’s $26.9 million, however, the firm also noted a 6% drop in annual operating income to $19.8 million. LocalBitcoins’ staff also expanded significantly last year as the platform strengthened its know-your-customer (KYC) requirements in the third and fourth quarters of last year, with the firm’s headcount increasing from 26 to 43. LocalBitcoins stifles illicit activity “2019 was an invaluable learning experience for us, as we implemented anti-money laundering and know-your-customer (KYC) regulations," said LocalBitcoins chief executive Sebastian Sonntag.  "As expected, undesired activity was driven away from the platform and the implementation of KYC itself was a challenging process.

Bitcoin exchange LocalBitcoins revenues up, despite losing ground to Paxful

The Finnish peer-to-peer Bitcoin exchange had its fair share of problems last year—but it is still growing.

European Innovation Council Awards $5M to Six Blockchain Projects

A Dutch project fighting fake news with blockchain wins European Commission’s “Blockchains for Social Good” prize. A tech unit at the European Commission has awarded millions of dollars to several blockchain projects in an effort to support the use of blockchains in socially beneficial ways. The European Innovation Council, or EIC, has awarded 5 million euro ($5.6 million) to six blockchain initiatives within its “Blockchains for Social Good” program. Announcing the news on Tuesday, the EIC noted that the prize intends to promote blockchain development in areas of traceability, fair trade, financial inclusion, and decentralized circular economy. The awarded startups include Dutch content authenticity firm WordProof, British startup PPP, finnish GMeRitS, Oxfam’s UnBlocked Cash Project OXBBU, French e-commerce platform CKH2020, and an Italy-based digital marketplace project, PROSUME. All of the winners have presented their projects in open source.

American Pundi X Merchants Can Now Sell Crypto Via PayPal

As the crypto community’s anticipation for PayPal’s exploration into crypto grows, Pundi X has integrated the payments processor for its point-of-sale devices. Singapore-based blockchain firm Pundi X has integrated PayPal support for its point-of-sale device ‘Xpos.’  PayPal is the first mobile payment gateway to be integrated onto Xpos, and users from more than 30 countries can now accept funds via the payments processor. The integration will take place over two stages, with US-based merchants who use Xpos able to apply for PayPay-based keyed transactions from July 1. A PayPal app is expected to be integrated onto all Xpos devices within two weeks — completing the roll-out. 70% of Xpos users request Paypal support Pundi X decided to launch the integration after conducting a Twitter poll asking followers which mobile payment app they would like Xpos to support first. PayPal received almost 70% of votes, beating out WeChat Pay, Alipay, and GoPay, among others. The integration brings credit card payments to Pundi X’s point-of-sale system, and allows cryptocurrencies to be purchased via PayPal from supporting Xpos merchants. Pundi X chief executive and co-founder Zac Cheah emphasized that integrations with leading global firms such as PayPal will help drive adoption blockchain-based services and products outside of the crypto community: “To be able to support a leading online payment provider in our XPOS devices can give people more confidence in using them, and can move usage of blockchain technology closer to the mainstream." PayPal loves crypto all of a sudden After shunning cryptocurrencies for a decade, recent job listings for blockchain engineers responsible for “new initiatives” at PayPal global appear to support rumours it will soon offer cryptocurrency sales to users.  PayPal payments are only supported by a handful of crypto exchanges, such as peer-to-peer marketplaces Localbitcoins and Paxful. Last week, KuCoin’s P2P

Alibaba’s Plan to Digitize the Services Industry to Rival Tencent Involves Blockchain

Alibaba subsidiary Ant Group CEO Simon Hu accelerating Alipay’s progression into an online mall for commerce, food, travel services to rival Tencent Holdings Ltd.

Review: Crypto.com’s Ruby Steel Prepaid Visa Card

A number of members in the cryptocurrency community, typically people who are paid in crypto assets, have tried a myriad of prepaid cards that can be credited with digital currencies like bitcoin.

The COVID-19 E-Commerce Boom Hasn’t Trickled Down to Bitcoin, Despite Advantages

Although a variety of e-commerce platforms are booming during COVID-19 lockdowns, bitcoin payments remain exceedingly niche.

The Future Is Stablecoins, Say Panelists for Chamber of Digital Commerce

As banks look to tokenize currency and USDT volume rises, experts see a bright future for stablecoins. In a June 24 webinar put on by the Chamber of Digital Commerce, major figures from the crypto community spoke about the growing role of stablecoins. Long-term view of stablecoins One of the guests was Jeremy Allaire, the founder of Circle, which is behind USD-backed stablecoin USDC.

Bank for International Settlements Calls CBDCs a Potential ‘Sea Change’

The leading global central bank institution has published new research on central bank digital currencies, noting a major shift in their direction thanks to Libra as well as COVID-19. In advance of its coming annual report, on June 24 the Bank for International Settlements released a special chapter from that report on digital payments — especially central bank digital currencies, a topic that’s attracted tremendous interest in recent months. The report encourages central banks to treat CBDCs as their future, saying: “One option at the frontier of policy opportunities is the issuance of CBDCs, which could amount to a sea change.” A recent shift in favor of CBDCs The BIS found that there had been a major bullish shift in sentiment for CBDCs since the beginning of this year as measured by speeches referring to them positively or negatively. Source: Bank for International Settlements The COVID-19 pandemic has factored into this shift, the report says, citing increased precautionary holdings of cash, commerce moving online, and the fact that “public concerns about viral transmission from cash have risen.” Given quantitative easing injections all over the world looking to stimulate economies in crisis, the report’s statement that “today the central banks’ role is as important as ever, if not more so” seems especially apt. Libra, China and the global competition Facebook’s Libra looms large in this shift.

Bitpay Accepts Company of the Year Accolade

Bitpay wins Company of the Year Award from market research company.

Japan: SBI to Issue Blockchain-powered Local Gov’t Gift Certificates

SBI Holdings, a Japanese financial giant, crypto exchange operator and Ripple’s biggest Asia-based partner, is to begin developing blockchain-powered gift certificates with the Fukuoka Chamber of Commerce and Industry. Per Fisco, via Kabutan, the initiative will be conducted in the city of Ukhia, in Fukuoka Prefecture.

Paxful ‘Flippens’ LocalBitcoins As The Largest P2P Bitcoin Marketplace

Bitcoin (BTC) peer-to-peer (P2P) trading market went through a historical week, as Paxful has surpassed LocalBitcoins in weekly trading volume for the first time in P2P trading history. According to data provided by Coin.dance, Paxful is now the leading Bitcoin P2P marketplace in terms of global weekly trading volume.

Paxos ‘Flippens’ LocalBitcoins As The Largest P2P Bitcoin Marketplace

Bitcoin (BTC) peer-to-peer (P2P) trading market went through a historical week, as Paxful has surpassed LocalBitcoins in weekly trading volume for the first time in P2P trading history. According to data provided by Coin.dance, Paxful is now the leading Bitcoin P2P marketplace in terms of global weekly trading volume.

Ripple, Brave, and Huobi Join Instant Global Payments Network PayID

Ripple, Brave, Huobi and 40 other companies have joined the Open Payment Coalition to launch instant payment network PayID worldwide. More than 40 companies including Ripple, Brave and Huobi have joined forces to form the Open Payments Coalition and launch universal payments system PayID. Reaching more than 100 million consumers, the new payment process will allow users to send or receive money anywhere in the world across any payment network in real time. Users can provide an email address or a phone number linked to their bank account to instantly receive money without requiring complicated bank account numbers, international codes, routing numbers or SWIFT IDs.  Cryptocurrency and blockchain companies involved include BitGo, BitPay, Bitrue, Bitso, Bitstamp, Blockchain.com, Brave, BTC Markets, CipherTrace, Coinone, Crypto.com, Huobi, Independent Reserve, Liquid, Ripple and many more. Ripple’s Ethan Beard said PayID aimed to make global payments simple and fast.

Ripple backs simplified SWIFT rival PayID

Ripple, Brave and BitPay are among the launch partners for PayID, an email-style payment ID system to transfer money across any payment network.

Have Paxful's African ventures pushed it ahead of LocalBitcoins?

The global trading volume of cryptocurrencies did note an impact of the COVID-19 pandemic as the market capitalization shrunk from $307 billion, 2020's peak, to a low of $151 billion immediately after The post Have Paxful's African ventures pushed it ahead of LocalBitcoins? appeared first on AMBCrypto.

OKEx Paxful Join Hands to Promote Crypto Adoption

The popular cryptocurrency derivatives and spot trading platform, OKEx has entered into a strategic partnership with Paxful, leading P2P Bitcoin marketplace to promote cryptocurrency adoption.

BitPay Launches Prepaid Crypto Mastercard for US Customers

The new debit card enables US customers to spend their crypto holdings as fiat currency.

Ziglu Mobile Banking App Makes Cryptocurrency Easy for Everyone

Ziglu, the first UK regulated cryptocurrency bank, has launched its platform app after successfully completing its testing phase.

The Best Crypto Debit Card – BlockCard

Crypto debit cards are a great way to get instant purchasing power from your Bitcoin, Bitcoin Cash, or other cryptocurrency.

Ziglu wants to sell you Bitcoin cheaper than its rivals

Crypto-friendly bank Ziglu operates as a power user on top exchanges, meaning that it can buy Bitcoin at discount prices.

Introducing Wallex Custody, The Custodian Of The New Digital Era

Sweden, June 15 – In a decisive move to adapt to the new normal concept of everyday living caused by the COVID-19 Pandemic, Wallex is taking its custodian role to unprecedented new heights to accompany its clients in safeguarding their traditional and digital assets from uncertainties and at the same time providing new opportunities to […] The post Introducing Wallex Custody, The Custodian Of The New Digital Era appeared first on Bitcoin News.

OKEx Taps Paxful to Provide New Fiat-to-Crypto Onramps

OKEx is partnering with Paxful, adding more than 160 fiat currency onramps to its crypto exchange business.

Peer-to-Peer Bitcoin Marketplace Integrates With Major Exchange OKEx

Major cryptocurrency exchange OKEx is integrating Paxful’s Kiosk and trading services into its platform. Peer-to-peer Bitcoin (BTC) marketplace Paxful is integrating its platform with major cryptocurrency exchange OKEx. According to an announcement on June 15, the partnership will offer several payment methods for OKEx users through Paxful’s Kiosk to buy Bitcoin with over 160 fiat currencies, together with bank transfer, gift cards and online wallets, among others. Paxful customers will be able to access different trading options such as spot, margin, and futures trading, as well as the derivatives markets through OKEx's decentralized platform, DEX.

Just-Launched Ziglu Wants to Make It Stupid Easy to Buy Crypto

UK-based cryptocurrency platform Ziglu has launched, following a $6.6 million seed round.

These “Dire” On-Chain Metrics Show Bitcoin Is on the Verge of Dropping to $7k

The past few days have seen Bitcoin stagnate into a tight range between $9,300 and $9,500.

Bitcoin can be a game-changer within e-commerce sector

If cryptocurrencies are to gain in adoption, popular coins like Bitcoin may soon need to start solving problems that are currently taken care of by traditional forms of finance.

Revamping E-Commerce During the Rise of Stablecoins

The third decade of the 21st century will make cryptocurrency the main payment method worldwide because of its benefits over fiat. The world has been slowly recovering from the COVID-19 pandemic, while some countries are bracing themselves for a potential second wave, but the economic downturn in many fields is imminent.

Crypto Milestone: People Can Spend Bitcoin (BTC), Ethereum (ETH) and XRP With First-Ever Prepaid Mastercard in the US

BitPay just launched a prepaid Mastercard that lets US customers instantly convert their crypto into fiat without conversion fees.

Bitcoin payments firm BitPay unveils prepaid Mastercard for US users

Latest option for converting crypto into fiat and spending it globally comes as the previous BitPay VISA card faces its demise.