digital asset – BOL News Staging

Registration for the STRMNFT Digital Asset Marketplace has begun

June 12, 2022 by Ali faizan rizvi

StreamCoin has officially announced the start of registrations for its brand-new STRMNFT. The preliminary offer includes free digital asset minting until July 2022. According to reports, it has a user-friendly interface that will benefit. The blockchain business StreamCoin has officially announced the start of registrations for its brand-new STRMNFT marketplace. According to the team’s information, … Read more

Bitcoin funds are raking in fresh money, while altcoin funds are suffering

June 7, 2022 by Muhammad Humair Qureshi

BTC-focused investment funds received $125.9 million in inflows in the week ending June 3. $100 million in inflows, implying that fresh money dedicated to bitcoin funds compensated for losses other cryptos (altcoins) Ethereum funds continued their downward trend, recording nine weeks of outflows. Bitcoin (BTC) funds saw inflows for the second week in a row … Read more

Foremost UK hedge fund Brevan Howard introduces crypto division

September 14, 2021 by Syed Ahad

A United Kingdom-based hedge fund, Brevan Howard, intends to “significantly expand” its crypto and digital assets. Chief Executive Aron Landy, who has been at Brevan’s helm ever since its co-founder and long-time cryptocurrency sponsor Alan Howard walked down in 2019, has specified that the company has a “commitment to rapidly expanding its platform and offerings … Read more

Crypto exchange of India collaborated with Advertisement regulators

August 25, 2021 by Syed Ahad

Mumbai-based crypto exchange, CoinDCX collaborated with ASCI (Advertising Standards Council of India). The objective of the collaboration is to bring further credibility and transparency to cryptocurrency Ads.

The decision seems to determine by the new Delhi High court orders that asked publishers to put essential disclaimers on their advertisements.

The High Court’s decision was based on a petition alleging that current crypto commercials lack prominent wording warning viewers of the risks associated with these types of digital asset transactions.

The collaboration would see CoinDCX incorporate rules allotted by ASIC towards advertisement publication.

This change would develop public confidence and too benefit individuals to become more conscious of the crypto world and the possible risks related to investing in them.

CoinDCX CEO and Co-Founder, Sumit Gupta stated:

“We are honored to be a member of ASCI that safeguards consumers’ interests. The involvement reaffirms our commitment to ensuring safety and security for our users and raising the bar for advertising transparency in the crypto space in India. This will boost confidence among the users, and they can use our platform without any apprehension. Being the safest crypto exchange, we have always gone the extra mile to ensure we are fully compliant with the laws and imbue credibility and trust in our service and products.”

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Gold vs. Cryptocurrency Investments: What’s the Difference?

August 17, 2021 by Syed Ahad

If you’re new to investing and can’t decide between gold and cryptocurrency, here are some key distinctions to consider:

Ownership Structure

There are various types of gold and every type is dependent on its weight. Customers on a limited budget can purchase a little over a 1-gram bar, whereas wealthy customers can purchase 1-kilogram weights.

Crypto is a digital asset. If a person wants to invest in crypto, he will need a digital wallet to store it or keep it on a payment service for safety.

Supply

Although gold is a unique precious metal with a finite supply, it does not have a finite quantity because new gold mines are continually being discovered globally.

Whereas each cryptocurrency has a limited supply. Whether it’s pre-mined or mined, once the full supply has been mined and given to its users, the value will be solely determined by the market cap and customer needs.

Volatility

Gold is not as dangerous as cryptocurrency. Investors see the history of gold before investing. Gold provides less profit as compared to cryptocurrency, but they are safe for many.

While cryptocurrency shows volatility. New cryptocurrencies are brought to the market while existing ones compete to retain or increase their market value. There are some cryptos whose price will rise shortly after their launch date but will then drop in value hours later.

Taxes

If a person has a gold bar or coin collection in his possession, he may be subject to taxes on his investment.

In most countries, cryptocurrency does not have any taxes, but in future, it may have taxes because few countries are discussing taxing cryptocurrency just like they tax other investment and property assets.

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Xiaomi in Portugal denies Cryptocurrency payments

August 15, 2021 by Syed Ahad

According to Xiaomi, the business was not informed of such decisions because Mi Store Portugal is a self-contained satellite, and Mi Store Portugal’s acceptance does not represent Xiaomi Corporation.

“Xiaomi Corporation would like to clarify that ‘Mi Store Portugal’ and associated social media channels are operated by a third-party store,” Xiaomi said. “While we respect and understand the legitimate operational autonomy of third-party stores, the decision to accept cryptocurrencies has no connection with the Xiaomi Corporation and was made without our knowledge or approval.’”

Earlier, the official retailer of the Chinese tech behemoth, Mi Store Portugal, made the decision to accept bitcoin payments.

Bitcoin, Ethereum, Tether, and Dash may use to purchase MI smartphones, vacuum cleaners, smartwatches, electric scooters, and other devices.

Given that Portugal is considered to become the most crypto-friendly European country because of its tax laws, it is unsurprising that Mi has chosen Portugal as a testbed for digital asset payments.

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Crypto Team is Being Built by PayPal in Ireland as Bitcoin Acceptance Grows

August 2, 2021August 1, 2021 by Syed Ahad

At the time when Bitcoin and Ether are gaining popularity, the new hires are required to help PayPal expand its crypto-focused business offering.

PayPal, the global payments company, is hiring for many cryptocurrency-related posts at its Ireland headquarters, highlighting the business’s ambitions in the fast-rising digital asset sector.

PayPal is looking to fill several crypto-focused posts in compliance, anti-money laundering, and business development for its Dublin and Dundalk offices, according to the Dublin-based Irish Independent, one of the country’s most popular news outlets.

PayPal established a specialized crypto and blockchain business unit earlier this year to assist its entrance into cryptocurrencies, which took place in October 2020 with the purchase of Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) by clients in the United States.

The company expanded its offering in March of this year, allowing US clients to pay for products and services with their digital asset holdings.

PayPal said two months later that clients would be able to withdraw their cryptocurrency to third-party wallets.

PayPal’s CEO, Dan Schulman, stated in April that the company’s crypto business has exceeded all expectations in its first six months of existence.

The fast adoption of digital assets like Bitcoin and Ether was accompanied by a tremendous price increase that brought the whole cryptocurrency market to a worth of about $2.6 trillion.

Crypto markets seem to have hit a bottom and are now hiking upwards again, after a significant correction between May and July.

Schulman stated on PayPal’s quarterly earnings call last week that the company’s crypto trading business would be arriving in the UK in the near future. Upgrades to allow for faster payment processing are also in the works, according to him.

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Wealthfront, a financial services firm, now offers BTC and ETH exposure

July 30, 2021 by Syed Ahad

Wealthfront has revealed that it has added Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust to its current investing portfolio (ETHE). Over $25 billion in assets are currently managed by the automated investment service firm.

As a result, the company is now the first of its kind to offer bitcoin services as part of a broad portfolio. Tax-sensitive rebalancing, intelligent dividend reinvestment, and tax-loss harvesting are among the company’s automated features.

Customers may now gain exposure to the top two digital assets without the hassles, according to Wealthfront. “It takes time and effort to research all of the options, set up a wallet, and monitor an additional account. That’s why we’ve made it easy to get exposure to Bitcoin and Ethereum right in your Wealthfront portfolio, no wallets required. Instead of buying coins yourself, you can invest in GBTC and ETHE,” the announcement stated.

Grayscale’s GBTC and ETHE trusts will now be eligible to receive up to 10% of their total portfolio allocation. The 10% allocation rule, according to Wealthfront, is in clients’ best interests. “best interests at all times, and these investments can be riskier and more volatile than most ETFs.”

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Mastercard Strives to Take the Lead in Crypto Markets

July 29, 2021 by Syed Ahad

Mastercard (MA), the world’s largest payments company, wants to make it easier for people to acquire, spend, and hold cryptocurrencies.

Mastercard also wants to be a major player in the Decentralized Finance (DeFi) with cryptocurrencies developer ecosystem.

Mastercard’s Start Path program is now open to startups and entrepreneurs who are focused on crypto and digital assets. The program allows new businesses to use the credit card network’s technology.

Mastercard established a Start Path global engagement program to support fast-growing digital assets, blockchain, and cryptocurrency startups, in order to make crypto holders’ transactional lives easier.

“As a leading technology player, we believe we can play a key role in digital assets, helping to shape the industry and provide consumer protection and security,” Mastercard’s executive vice president of new digital infrastructure and fintech, Jess Turner, said.

The Start Path program will provide cryptocurrency companies access to Mastercard’s most up-to-date tools and solutions, allowing them to scale their innovations and cutting-edge technology.

“These startups use the program to connect with our ecosystem of banks, merchants, partners, and digital players across the globe to deliver new solutions,” Mastercard explained.

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Major Korean Bank offers Cryptocurrency Custody Services

July 19, 2021 by Syed Ahad

Woori Bank, a banking institution based in South Korea, has entered the DACS (cryptocurrency custody services) sector.

Woori Financial Group will begin offering cryptocurrency custody services to its clients. It is one of the largest financial institutions in South Korea.

Woori Bank, the financial institution’s banking unit, will begin this initiative in collaboration with a fintech solution provider. Coinplug Inc. is the company that provides fintech solutions.

According to the Korean Economic Daily, Woori Bank is the second South Korean bank to join the DACS market. Coinplug Inc, a Bitcoin-focused financial firm, partnered with the institution to form a joint venture (JV).

D-Custody is the name of the project, and it will be implemented by early next week. According to the ownership contract, Woori Bank will contribute less and Coinplug will become the majority shareholder.

According to a Woori Bank executive, digital asset custody has been one of the most successful recent services provided by banks in the international market.

Digital asset custody, allows its providers to store cryptocurrencies for organizations and people while they are away.

In South Korea, there is a growing need for digital asset custody services. This is because the majority of local businesses now store and trade various types of virtual currency.

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London asset manager intends to invest $55 billion in cryptocurrency

July 6, 2021 by Syed Ahad

Despite the market’s recent collapse, a London-based asset manager is said to be considering investing in digital assets.

Marshall Wace, a London-based asset management firm with over $55 billion in assets under management (AUM), is considering to move into the cryptocurrency market, according to the report published today by the Financial Times.

Whereas the individuals connected with the situation report, the company intends to engage in many areas of the business, including blockchain technology and payment systems for digital currencies and stable coins.

Furthermore, according to FT’s sources, Marshall Wace is looking to hire staff in the digital assets industry, although the fact that the new investment arm is still in its early stages.

However, the asset manager plans to extend it and further considers adding other types of activity, such as bitcoin trading.

Apparently, the firm is considering to invest in the late-stage venture capital rounds in companies involved in the infrastructure of the still-developing industry.

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