The CEO of PayPal, Dan Schulman, said that ‘we’re going to allow cryptocurrencies to be a funding source for any transaction happening on all 28 million of our merchants. And that will significantly bolster the utility of cryptocurrencies.’
In an interview on CNBC, Schulman further explained that users will be able to choose to pay with cryptocurrencies at any PayPal merchant, and that the cryptocurrency will be converted into cash during the transaction, meaning the user pays with crypto and the merchant receives cash.
PayPal currently has about 62% of the market share of online payments, and boasts 305 million users. …
Tom Fitzpatrick, Global head of CitiFX, has stated bitcoin could see $318,000 by December 2021.
If Fitzpatrick’s prediction is correct, this “would only be a low to high rally of 102 times (the weakest rally so far in percentage terms) at a point where the arguments in favour of Bitcoin could well be at their most persuasive ever.”
According to Fitzpatrick, bitcoin is often portrayed by “unthinkable rallies followed by painful corrections.”
Fitzpatrick speculates the time between the last two bull runs has maintained relative stability for approximately 12 months. …
The $275 billion company has filed with the SEC to allocate over $500 million from it’s Macro Opportunities fund into Grayscale’s GBTC Investment Trust.
The Macro Opportunities fund typically invests in fixed income securities so this is a departure from the fund’s traditional investment strategy.
The investment team has likely determined that Bitcoin poses a major macro opportunity and has decided to add it to the fund to enhance returns and/or mitigate risks.
“The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”),” the SEC filing reads. …
Ripple Inc., the company behind the XRP cryptocurrency, has earned a hefty profit of $40 million on their original $50 million MoneyGram investment in June 2019.
This is a gain of 80% in 17 months.
They are now selling as much as 4 million shares of their 12.2 million of MoneyGram stock. 4 million shares is worth $28.2 million at the current price of $7.42 per share.
“Ripple is a proud partner in MoneyGram’s digital growth transformation. This is purely a judicious financial decision to realize some gains on Ripple’s MGI [MoneyGram International] investment and is in no way a reflection of the current state of our partnership,” said a Ripple spokesman. …
According to an article in the Financial Times, Facebook could be launching Libra as early as January 2021.
Originally Libra planned on being backed by a basket of fiat currencies including the Dollar, the Euro, and the Pound. Now Libra is planning on launching only a USD-backed stablecoin.
While widely criticized for being associated with a politically-charged company like Facebook, Libra could become a major on-ramp for people buying non-stable cryptocurrencies like Bitcoin, XRP, and TRON, because it will have access to Facebook’s 2.7 …
At the same time, the OpenDEX-Desktop and UI have gone open-source while the spot leverage trading function has reached 100% completion and OKChainSWAP’s model design has also been completed.
In addition, according to OKChain’s latest Monthly Report — June 2020, OKChain-Wasm single-node testnet — running on the WebAssembly, or Wasm, virtual machine — completed deployment of a single-node network. …
Visa, the largest payment network in the world, is currently hiring an Ethereum developer to create a new blockchain-based application.
According to Visa’s job posting, the company is looking to hire a blockchain engineer with at least two years of experience.
The position is for the Visa B2B project, which utilizes blockchain technology for cross border payments, announced last June.
The candidate will work as part of a team to develop a new “distributed application.”
While Visa is largely focused on Ethereum, the company has also expressed interest with knowledgeable developers in bitcoin, Ripple, and the R3 enterprise blockchain. …
Binance has announced they will be launching staking rewards for Tezos (XTZ) as its third token supported for staking.
The staking rewards for XTZ will launch Thursday, April 16th, 2020, at 9:00am EST / 6:00am PST.
If you are already holding XTZ, no action is needed to begin earning rewards.
XTZ/USD and XTZ/BUSD trading pairs are already available to trade on the Binance.US app, website, and API.
Binance.US takes hourly snapshots of user’s XTZ balances to calculate rewards.
The rewards are calculated daily and distributed monthly.
Distributions for XTZ will be completed before the 20th of each month, beginning in May 2020. …
Mobile phone manufacturer HTC has announced it will allow users to mine Monero (XMR) through its blockchain-enable phone Exodus.
The announcement comes amid a partnership with ASIC chip design firm Midas Labs and their application DeMiner.
HTC is wanting to reduce the high energy consumption associated with cryptocurrency mining by reallocating work to their mobile devices.
“Mining on mobile is an important research topic in understanding the development of secure crypto networks,” said Phil Chen, decentralized chief officer at HTC.
“The number of mobile phones in 2020 is approaching 3.5 Billion, which would further decentralize and distribute the hash rate and mining power of such crypto networks.” …
Fintech startup Fold has announced a partnership with Visa allowing its users to spend dollars and earn bitcoin.
Fold CEO Will Reeves noted Visa will be providing the company financial support, as well as a dedicated team to bring the new bitcoin cash-back rewards card to market.
To date, the Fold app has allowed users to spend bitcoin or fiat at major retailers including Amazon, Starbucks, and Uber.
Fold users synchronize their accounts with either an existing credit card or Lightning wallet.
With the new Visa card, users will now be able to use their Fold cards to spend dollars and earn bitcoin. …