Payment Expert’s Blockchain Bulletin analyses how the world of blockchain is constantly evolving and heavily impacting the payments industry, with cryptocurrencies, NFTs and the metaverse revolutionising the space.
This week, the US Presidential race has brought about heavy discussions regarding crypto and CBDCs, with Trump and Biden at polar ends of each debate, whilst Coinbase’s CEO believes why crypto organisations should support both sides of the political spectrum.
Why 2024 Presidential election is crucial for crypto
In his latest efforts to rally support from the crypto community, Republican Presidential Candidate Donald Trump has called for all remaining Bitcoin mining to be held in the US.
Trump made these comments on social media platform Truth Social as he continues to show support behind Bitcoin and the crypto community, in which Democratic rival Joe Biden is a firm critic of.
On the opposite end, during his first term as President, Biden has been exploring the possibilities of a US Central Bank Digital Currency (CBDC). However, Trump is vehemently against the idea of a Digital Dollar and promises to quell any notion of its existence if elected in November.
Coinbase CEO: “Crypto voters won’t be taken seriously until we send a clear message”
Brian Armstrong, CEO of Coinbase, recently spoke on the political divide currently unfolding during the 2024 Presidential race, and believes it is important to acknowledge pro-crypto supporters in both parties.
Detailed in a recent blog post, Armstrong highlighted the work being done by US crypto political organisations, such as Stand With Crypto and Fairshake, and has spurred on crypto investors to make their voices heard up until voting commences in November.
He said: “The 20% of the US adult population who have owned crypto are younger, more racially diverse and cut across political ideological lines. They’re demanding alternatives to a broken, bureaucratic system with gatekeepers, delays and fees. And they’re demanding to be heard in this next election.”
Robinhood’s Bitstamp acquisition solidifies crypto ambitions
As part of significantly expanding its crypto services across the globe, Robinhood acquired crypto exchange Bitstamp for a reported $200m.
Robinhood will inherit Bitsamp’s clients and its core spot exchange, including 85 tradable assets to enhance its crypto offering. Alongside the exchange, the acquisition will include Bitsamp’s white label solution, Bitstamp-as-a-service, which enables institutional lending and staking.
Bitstamp will complement Robinhood’s existing crypto platform.
Stablecoin transfers more seamless with BVNK’s Swift integration
Stablecoin payment provider BVNK has enabled Swift payments onto its platform, allowing payment providers to make fiat-to-crypto transfers.
Hosting various stablecoins on its platform, such as USDT, USDC and PYUSD, BVNK has brought Swift’s payment infrastructure to simplify the process of exchanging fiat currencies to digital currencies.
BVNK cited an increasing demand from payment service providers to move money faster. Swift’s integration enables firms to convert their preferred currencies to stablecoins and make near-instant settlements to payout to clients and partners.
Crypto.com approved in EU country ahead of MiCA
Crypto.com has been cleared to receive a Virtual Asset Service Provider (VASP) licence to operate in Ireland.
The Central Bank of Ireland approved the crypto exchange, which enables Crypto.com to offer its range of digital currencies and assets to Irish investors to buy, sell and trade.
The licence approval also comes at the right time for Crypto.com as the EU’s Markets in Crypto Assets (MiCA) regulation is set to launch on 30 June.
