A month after the Bitcoin law went into effect in the central American nation of El Salvador, interest in the cryptocurrency has continued to soar as a greater percentage of residents are converting their dollars into BTC. In a tweet made by the country’s president, Nayib Bukele, El Salvador’s in-house crypto wallet app – Chivo...Read More
Car For Coin – an auction website where users can purchase luxurious cars – also provided bitcoin payments as an option. Other examples of the latest cryptocurrency adoption are the fashion brand – PacSun – and the charity organization – Nicklaus Children’s Hospital Foundation. Paying for Tesla in BTC Becomes Possible Again Even though Tesla...Read More
Lord Fusitu – a Tongan barrister, landowner, and MP – is a fervent supporter of making Bitcoin a true currency inside the nation’s borders. He plans on tabling a bill to make Bitcoin legal tender alongside Tonga’s national currency, the pa’anga. Why Make Bitcoin Legal Tender in Tonga? Tonga is a small island nation and...Read More
Flourish – a Fintech platform geared towards Financial Advisors – has started a digital asset initiative called “Flourish Crypto.” The platform will offer accessible Bitcoin investment options to RIAs, equipped with advisor-specific compliance resources. Crypto Solutions for Investment Advisors According to a press release from GlobeNewswire, Flourish Crypto will include access to direct cryptocurrency ownership....Read More
El Salvador’s state-owned digital wallet company “Chivo” will be granting citizens a discount on fuel payments. This provides greater incentives for citizens to use Bitcoin as a medium of exchange. Chivo Partners With Major Gas Companies Nayib Bukele – President of El Salvador – announced the new benefit yesterday over Twitter. The reveal was part...Read More
The Puerto Rican billionaire businessman – Orlando Bravo – believes cryptocurrencies will play a significant role in the future monetary system. He admitted that he is a bitcoin owner as he anticipates its price to surge in the following years. ‘How Could You Not Love Crypto?’ Orlando Bravo – Co-Founder and Managing Partner of Thoma...Read More
In just three weeks, roughly one-third of El Salvador’s population has started to employ the Bitcoin wallet Chivo actively. As such, the country’s president updated that more people will soon be using the app than they have bank accounts in all local banking organizations combined. The smallest and most densely populated Central American country made...Read More
Dubai World Trade Center Authority (DWTCA) announced recently that it has partnered with the UAE’s Securities and Commodities Authority (SCA) to make cryptocurrency trading, issuance, and regulation completely legal within its jurisdiction – the DWTCA freezone. DWTCA Makes Crypto Activities Legal Notably, the agreement was signed by the acting CEO of the SCA Dr. Maryam...Read More
El Salvador’s President Nayib Bukele is looking to attract foreign capital to boost the Bitcoin industry in his country, especially after the controversial path he has gone through to get the cryptocurrency adopted as legal tender. A supposedly recent executive decision could be very favorable for bitcoiners in El Salvador… as long as they’re foreigners....Read More
The use of Bitcoin in El Salvador has not had the best of starts. Still, financial institutions are already doing their best to comply with the law. Bancoagrícola, the country’s largest financial institution, is among the first banks to include Bitcoin-compatible technology solutions and is already adapting its infrastructure to offer Bitcoin services thanks to...Read More
As the global adoption of cryptocurrencies continues to soar, a new bill has been submitted in the Republic of Panama to recognize Bitcoin (BTC) and other digital currencies as alternative payment methods. Panama Proposes Crypto Bill Panamanian pro-crypto congressman Gabriel Silva noted on Twitter that the new bill would enable the freedom to use cryptocurrencies...Read More
President Nayib Bukele announced the milestone on Twitter, telling followers his country “just bought its first 200 coins.” Bukele noted the Central American nation will be buying more bitcoin as the deadline approaches to make El Salvador the first nation to officially recognize a cryptocurrency as legal tender. The president tweeted early Monday afternoon: El...Read More
The leading British financial institution – Standard Chartered – reportedly became the first bank to join the Global Digital Finance (GDF) Patron Board. StanChart, together with the rest of the members, will work together to accelerate the adoption of best practices across the digital assets landscape. StanChart’s Latest Crypto Endeavor The multinational banking and financial...Read More
Blockchain.com —former Blockchain.info— one of the OGs of the crypto industry, announced today that as it nears its first decade in the market, it was able to process $1 Trillion in crypto transactions. Macrina Kgil, CFO of Blockchain.com, shared the news on her institutional blog, noting that this statistic only covers Bitcoin transactions between real...Read More
El Salvador will, in ten days, adopt Bitcoin as an official currency. It’s making massive investments in projects to develop end-user products to hold and spend bitcoin. The opportunities of this venture are enormous, though some warn there are risks. El Salvadorians Will Soon Find Imports Attractive Because Bitcoin is a deflationary cryptocurrency, and the...Read More
After El Salvador made history earlier this year by accepting bitcoin as a legal tender, the number of countries planning to mimic the move continues to grow. A recent report showed that Cuba’s Central Bank wants to implement rules enabling the nation to utilize digital assets legally. CryptoPotato reported in May this year when Cuba’s...Read More
The use of cryptocurrencies as means of payment that circumvent the traditional financial system is proving increasingly popular among minority groups in the United States. According to data from Harris Poll shared by USA Today, 1 in 4 people who identify as LGBTQ have invested in cryptocurrencies. This is almost twice the proportion compared to...Read More
In 2017, before the cryptocurrency frenzy began, Didi Taihuttu made the decision of a lifetime: he sold all his assets and bought Bitcoin… at $900. Perhaps he was super happy a few months later when he achieved a 20X ROI, but now, with each coin trading above $46,000, Taihuttu has to think very hard about...Read More
The large US movie theatre chain, AMC Theatres, will add bitcoin as a payment option by the end of the year, said the organization’s CEO Adam Aron. Thus, the number of global brands adopting BTC keeps growing after the recent announcements from Philipp Plein, Sheetz, Quiznos, and more. Founded in 1920, AMC Entertainment Holdings is...Read More
Customers of the German fashion company Philipp Plein International AG will get the chance to buy products in digital assets instead of fiat money. The supported virtual currencies will be 15 and will include the leading ones – Bitcoin and Ethereum. ‘Cryptocurrencies Are The Future’ In a recent Instagram post, the fashion group Philipp Plein...Read More
It seems the number of crypto users has doubled since January 21 this year, according to research on global crypto adoption by Crypto.com. The report gathered information from 24 leading crypto exchanges using on-chain data based on various parameters —identifying over 220 million users by the end of June. February and May were the months when the...Read More
The International Monetary Fund opined that risks and costs outweigh the potential benefits of digital assets. They can also be highly volatile, and thus their implementation as national currencies is not suitable for now. Cryptocurrencies Are Not Related to The Real Economy The International Monetary Fund (IMF) warned in a recent publishment that digital assets...Read More
The ruling body of Kazakhstan will reportedly allow local banking institutions to offer cryptocurrency exposure to clients. The implementation will run for one year, after which the government will decide whether to extend it. Bank Accounts for Crypto Transactions in Kazakhstan The Kazakhstani news channel Khabar 24 reported that the government plans to officially authorize...Read More
A new survey conducted by the Independent Reserve revealed that 43% of the residents of Singapore own digital assets. 46% asserted they would purchase virtual currencies in the next year. Singaporeans Are Keen on Crypto The Australian trading venue Independent Reserve (IRCI) surveyed 1,000 participants to determine the level of cryptocurrency adoption in Singapore. Per...Read More
The massive cryptocurrency boom during the latter half of 2020 and the first half of 2021, coupled with a wave of institutional investors betting billions of dollars on the growth of the ecosystem, helped raise optimistic expectations around the approval of a Bitcoin ETF in the United States. But one of the previous (unsuccessful) applicants...Read More
Major bitcoin ATM operator Bitcoin Depot has inked a long-term partnership deal with convenience store chain Circle K to install Bitcoin kiosks in the United States and Canada. Bitcoin Depot and Circle K Partner to Install Bitcoin ATMs Bitcoin Depot announced the deal via a press release on Thursday (July 22, 2021). According to the...Read More
While the world worries about the fall of Bitcoin prices, billionaires are increasingly enamored with the cryptocurrency. A recent Goldman Sachs study revealed that at least 45% of family offices are interested in investing large amounts of money in cryptocurrencies. Family offices are firms in charge of managing the money of billionaires such as Amazon’s...Read More
With cryptocurrencies taking center stage in the financial industry in recent months, a new survey has revealed that an increasing number of UK residents are considering adding crypto assets to their investment portfolios in the coming months. UK Adults Consider Buying Crypto The research was conducted by Ziglu, a UK-based money app, and cryptocurrency platform....Read More
Wellbots, a U.S.-based smart product online retailer, has announced that its customers can now make payments for goods at checkout using six cryptocurrencies. Wellbots Now Accepts BTC Announcing the development in a press release today, Wellbots said it will now accept Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and popular stablecoins Dai and...Read More
Guests of the Pavilions Hotels & Resorts can now pay for their accommodation with over 40 cryptocurrencies, including BTC and ETH. The service will be available from today – July 7th. An Exotic Adventure in Exchange for Crypto According to a recent press release, The Pavilions Hotels & Resorts partnered up with the cryptocurrency trading...Read More
