Friedland reportedly received an email from Mailchimp regarding the suspension that said “We cannot allow businesses involved in the sale, transaction, trading, exchange, storage, marketing, or production of cryptocurrencies, virtual currencies and any digital assets.” Source
Interlay, a London-based blockchain firm, launched a Bitcoin (BTC)-based cross-chain bridge on Polkadot (DOT). Named interBTC (iBTC), the bridge allows the use of Bitcoin on non-native blockchains for decentralized finance (DeFi), cross-chain transfers and nonfungible tokens (NFTs), among others. interBTC operates as a BTC-backed stablecoin, secured by a decentralized network of overcollateralized vaults, which according to Interlay, resembles MakerDAO’s DAI token, a stablecoin on the Ethereum blockchain. The iBTC vaults use mixed-asset collateral to insure BTC reserves, making iBTC redeemable 1:1 with BTC over the Bitcoin blockchain. As a preventive…
Cryptocurrency exchange KuCoin will introduce native token swap functionality to its in-house wallet after integrating decentralized finance (DeFi) market maker 1inch’s application programming interface. 1inch’s Pathfinder algorithm will increase the functionality of KuCoin Wallet, the exchange’s recently launched decentralized wallet platform, which features cross-chain trading, and DeFi and nonfungible token (NFT) support. The algorithm will aggregate liquidity from over 250 sources from automated market makers and proactive market makers across the DeFi ecosystem. 1inch plugs into liquidity sources running on nine different blockchain networks, providing a wide range of tradable…
Summary: BlackRock has announced a private trust for institutional clients. The trust will focus on providing direct exposure to Spot Bitcoin for the firm’s institutional customers. Investors based in the U.S. would be the first to tap this offering, per Thursday’s statement. The giant asset manager recently teamed up with Coinbase for institutional crypto exposure. BlackRock’s CEO Larry Fink said institutions had shown little demand for digital assets in 2021. This rhetoric changed in 2022 when Fink hinted that the firm could tap into cryptos as risk appetite had increased.…
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The Atlanta-based crypto payment services company Bitpay has announced that Bitpay’s prepaid cardholders are eligible for cash back rewards if they use their card with participating retailers. The rewards feature stems from Bitpay’s partnership with Cardlytics and cardholders can get up to 15% in cash back rewards on purchases from the service from thousands of retailers. Bitpay Partners With Cardlytics to Offer Cash Back Rewards to Bitpay Card Users Shopping at Select Merchants On Wednesday, Bitpay announced that the crypto payment firm has partnered with the publicly-listed company Cardlytics (Nasdaq:…
The Banko Sentral ng Pilipinas said that the closing of VASP applications begins on Sept. 1, 2022, and will last for three years. While many believe that the Philippines can become a new crypto hub, that dream may be shattered in the meantime as the country’s central bank announced a 3-year hiatus from accepting new virtual asset service provider (VASP) applications. According to a memorandum signed by Chuchi Fonacier, a financial supervision official at the Banko Sentral ng Pilipinas (BSP), they aim to balance the promotion of innovation in finance…
The Taiwanese Ministry of Digital Affairs (MODA) plans to implement decentralized technology into its web portal in an effort against cyberattacks. InterPlanetary File System (IPFS) is a Web3 technology that government officials will employ for decentralized file sharing. IPFS identifies content through file hashes, which allows files stored by multiple parties to be found anywhere and can be accessed by simple HTTP. This development comes after the controversial visit of United States House Speaker Nancy Pelosi to Taiwan, despite warnings from mainland China. Since the visit, government websites have faced…
Figures cited by UNCTAD show crypto is particularly popular in Russia, Ukraine and Venezuela, three countries affected by sanctions, war and hyperinflation. As of November 2021, 41 developing countries have either prohibited banks from dealing in crypto or prevented exchanges offering crypto to retail investors, and nine have banned crypto outright, the report said. Source