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April 22, 2022

On the web

Germany’s Commerzbank Applies for Local Crypto License


“Germany’s Commerzbank (CBK) applied for a crypto license earlier this year, a spokesperson for the bank said. This makes it the first major bank in Germany to move towards crypto adoption.A bank spokesperson said Commerzbank wants to help shape emerging digital ecosystems, especially with regard to custody and trading in non-physical assets.“To this end, we entered into a cooperation with Deutsche Börse and Fin-Tech 330x in spring 2021. In addition, we are pursuing our own digital asset strategy and are also planning our own offerings for our customers in the coming years. We have applied for a license from the Bafin for the safekeeping of crypto assets. The future offer is initially aimed at institutional customers,” said Bernd Reh, senior spokesman, Commerzbank.”

April 20, 2022

On the wires

EPayments and Alchemy Pay Partner for Australian and NZ Crypto Payments


“Fiat-crypto payments provider, Alchemy Pay (ACH), has partnered with merchant payment provider, ePayments, to offer crypto payments and services in New Zealand and Australia. ePayments will integrate with Alchemy Pay to provide to their merchants with crypto payment acceptance, as well as payments with Binance Pay. As part of the partnership, Alchemy Pay will also leverage ePayments’ NZ and Australian fiat payment channels and provide global crypto service providers with access to users in these markets.”

April 18, 2022

On the web

April 15, 2022

On the web

Bitfinex Collaborates With OpenPayd to Enable SEPA Payments

Finextra Research

“Bitfinex, a state-of-the-art digital token trading platform, in collaboration with fiat on-ramp services provider OpenPayd, is enabling real-time Single Euro Payments Area (SEPA) payments for euro-denominated deposits and withdrawals. The introduction of SEPA payments provides additional options for Bitfinex customers to deploy euros onto the platform. Through the new collaboration, customers will have the ability to pay-in and pay-out from their accounts near-instantly.”

On the wires

The Gemini Crypto Rewards Credit Card Is Now Available in the United States

Gemini , a cryptocurrency platform to buy, sell, earn, and store crypto, today announced the Gemini Credit Card ™ is now available in all 50 U.S. states. Cardholders can earn up to 3% crypto back on dining+, 2% crypto back on groceries, and 1% crypto back on all other purchases, with rewards automatically deposited into their Gemini account. The Gemini Credit Card is issued by WebBank and features Mastercard as the exclusive card network. Since launching the waitlist, the Gemini Credit Card has amassed more than 500,000 sign-ups. Cardholders will be able to use the Gemini Credit Card anywhere Mastercard is accepted and can choose from among 60+ types of cryptocurrencies currently supported for rewards on Gemini’s exchange platform, including bitcoin, ether, dogecoin and other tokens.”

April 14, 2022

On the web

Mercuryo Taps Volt for Open Banking Payments

Finextra Research

“Mercuryo, a leading crypto payments company, has launched open banking payments within their cryptocurrency wallet, used by over two million global customers. The real-time account-to-account payments (A2A) will be facilitated by leading open payments gateway Volt and will provide Mercuryo wallet users, alongside their business partners, with single-click payment solutions via fiat.”

Sweatcoin Eyes Launch of SWEAT Tokens That Turn Movement Into Money


“Getting into crypto just got a whole lot cheaper (and healthier), as London-based tech company Sweatcoin prepares to launch a new token, SWEAT, that allows users to mint currency using just their shoe leather. The company says its mission is to “inspire a healthier planet by incentivising people to move more” and has partnered with BVI headquartered crypto business, the Sweat Foundation Ltd, to offer the token. With over 63 million users, who have collectively walked over 20 trillion steps, the company claims that SWEAT represents the world’s largest crypto giveaway ever.”

April 13, 2022

On the wires

April 11, 2022

On the web

Crypto Use Is More Prevalent in Corrupt Countries, IMF Study Finds


“Cryptocurrencies are more popular in countries perceived as corrupt or with strict capital controls, boosting the case for greater regulation of the industry, the International Monetary Fund said in a recent report. The report shows why countries might want to require intermediaries, such as digital currency exchanges, to implement know-your-customer procedures — ID verification standards that are designed to prevent fraud, money laundering and terrorism financing, the organization said. Some countries, like the U.S., have already instituted those kinds of controls.”

March 30, 2022

On the web

March 24, 2022

On the wires

Cross River Expands Its Cryptocurrency Services; Selects Chainalysis As Partner for Best-In-Class Compliance

Chainalysis , the blockchain data platform, today announced a partnership with Cross River , a technology-driven financial services organization that provides core infrastructure and embedded financial solutions. Cross River is known for providing financial services to the fintech and crypto sectors and will utilize Chainalysis tools to compliantly expand its offerings to additional cryptocurrency businesses.”

March 23, 2022

On the web

March 22, 2022

On the wires

March 21, 2022

On the web

RegTech Firm Tintra PLC Announces World’s First Web 3.0 Bank to Power Metaverse

Fintech Finance

“Today, the fast-growth RegTech firm Tintra PLC ( www.tintra.com ) announces the development of what is believed to be the world’s first built-for-purpose Web 3.0 banking platform. This platform will expand Tintra’s already-extensive technological capabilities with the eventual launch of an equally innovative, fully functional metaverse bank. While incumbent and legacy banks are currently opening lounges and branches in the metaverse via third-party platforms, Tintra intends to create the first bank capable of functioning operationally within the digital realm of the metaverse.”

On the wires

GrePay and Alchemy Pay Partner to Expand Crypto Payments

“The fiat-crypto payment solutions provider, Alchemy Pay (ACH), and GrePay, global acquirer and payments provider, announce their partnership. Grepay has over 100 local payment channels that process over 200k transactions per day. Alchemy Pay will now leverage these channels to connect crypto service providers to their global key markets such as United Arab Emirates, India, Mexico, Brazil, Colombia, Chile, and Pakistan.”

March 17, 2022

On the web

Crypto Order Pushes Biden’s Consumer Watchdogs to More Oversight


“President Joe Biden’s cryptocurrency executive order put the nation’s two federal consumer protection regulators front and center in regulating digital money. The Federal Trade Commission and the Consumer Financial Protection Bureau have largely taken a back seat to other financial regulators when it comes to crypto. But Biden’s March 9 order directed the CFPB and FTC to study how they can police crypto transactions for fraud and abuse, a mission both agencies are equipped to do.”

March 14, 2022

On the web

UK FCA Orders Operators to Shut Down Crypto ATMs


“The U.K.’s Financial Conduct Authority (FCA) has warned that any crypto ATMs operating in the country are illegal and must be shut down. Operators must be registered with the FCA to offer ATM services and comply with money laundering regulations, the FCA said in a statement on Friday .As none of the 27 fully registered crypto firms have been approved to offer ATM services, any crypto ATMs in the U.K. are operating illegally. According to data by Coin ATM Radar , there are 81 bitcoin ATMs/tellers in the U.K.”

March 10, 2022

Top Post

On the web

Facebook Libra: the inside story of how the company’s cryptocurrency dream died


“What emerges is a picture of Silicon Valley executives who thought they could charge into finance and make billions, if only they could surmount technical and regulatory barriers. What they failed to realise was that the very fact Facebook had conceived the idea, doomed it. As one government official involved in the process puts it: “Diem spent years trying to reverse engineer their project to fix all of its faults. But they could never fix being linked to Facebook. It was their original sin.””

March 9, 2022

On the web

FACT SHEET: President Biden to Sign Executive Order on Ensuring Responsible Innovation in Digital Assets | The White House

The White House

“President Biden will sign an Executive Order outlining the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology. The Order lays out a national policy for digital assets across six key priorities: consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.”

U.S. Treasury Launches Campaign to Educate Public About Crypto Risks


“The U.S. Treasury Department is launching an initiative to raise awareness about the risks of investing in cryptocurrencies as the digital asset moves from the fringes of the financial system to the mainstream, a top official said. The Treasury’s Financial Literacy Education Commission will create educational materials and organize outreach to inform the public about how crypto assets work and how they differ from other forms of payment.”

March 7, 2022

On the wires

Binance Launches Payments Technology Company, Bifinity | Binance Blog

Binance , the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the launch of Bifinity as its official fiat-to-crypto payments provider.  Powered by Binance, Bifinity is a payments technology company that connects businesses, merchants and millions of users to the world of crypto and blockchain. Merchants can use Bifinity’s intuitive APIs to get their business crypto-ready and start accepting crypto payments.”

March 3, 2022

On the web

SEC Probing NFT Market: Report


“The Securities and Exchange Commission (SEC) is investigating whether certain non-fungible tokens qualify as securities and thus should be regulated, according to a report from Bloomberg , citing sources familiar with the matter. Over the last few months, SEC attorneys have sent subpoenas to NFT creators and various crypto exchanges requesting more information, according to the report.A particular focus of the probe are fractional NFTs, in which a token is broken down into many units that are sold separately, according to the sources.”

March 1, 2022

On the web

eBay to Add Crypto Payment Options Soon, Says CEO


“Major e-commerce marketplace eBay could integrate crypto payments soon, said CEO Jamie Iannone in a recent interview. The internet marketplace is among the oldest e-commerce platforms, now looking to become the go-to platform for Gen Z and Millennials. The CEO said in an interview with The Street that the firm has been looking to integrate crypto payment options for quite some time and an official announcement could be made during the upcoming investor’s day on March 10.”

February 22, 2022

On the web

February 18, 2022

On the web

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