Monat: April 2022

Amazon CEO Andy Jassy has said that the e-commerce giant is not close to accepting cryptocurrencies for payments, but believes the crypto sector has the potential to realise even bigger growth in the future.

Jassy said this during an interview with CNBC on Thursday, telling ‘Squawk Box’ host Andrew Ross Sorkin:

“We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger,”

The Amazon exec’s comments come at a time many companies continue to lean toward accepting digital assets for payments. The e-commerce had itself signaled some intent on the subject after it advertised for a crypto and blockchain expert in 2021.

But it appears the eventual adoption of cryptocurrencies as a payment option at the world’s largest online retail business is not something that will come anytime soon.

Amazon could sell NFTs

Non-fungible tokens (NFTs) have caught on big time, with almost every other big company either already tapping into the digital assets, or looking to do so. The UK government is one of those looking to create an NFT in 2022.

So it might not be surprising that Amazon could start selling NFTs. NFT sales account for billions of dollars worth of trades, with this year likely to eclipse the $17.6 billion recorded last year.

According to Jassy, the sector could see even more growth and it is possible for Amazon to explore the business of selling NFTs. Amazon’s online retail business competitor eBay already sells NFTs on its platform.

“I think it’s possible down the road on the platform,” he told CNBC.

The Amazon CEO’s comments came after his first shareholder letter since replacing Amazon founder Jeff Bezos in 2021. He says he doesn’t own any Bitcoin or NFTs.

The post Amazon CEO says crypto will boom, company could sell NFTs appeared first on Coin Journal.

BingX has tapped into WOO Network’s deep liquidity to boost its trading platform via a better price execution and faster transactions.

BingX, an innovative social trading platform for digital assets, has partnered with crypto liquidity platform WOO Network to help boost price execution and transaction processing.

The partnership will see BingX users tap into Wootrade, WOO Network’s institutional-grade liquidity solution for liquidity support.

According to details shared via a press release on Thursday, Wootrade will be freely accessible to BingX users. With the integration, it’s now possible for customers to “plug into” the solution and benefit from its deep liquidity.

The liquidity pools are available for all the main pairs, the trading platform wrote in the release.

“WOO Network is excited to explore providing liquidity to  BingX, a platform that plays a very innovative role in bringing crypto-asset trading to the global stage,” said Ran Yi, WOO Network’s Chief of Ecosystem Development.

He added:

“BingX’s focus on compliance and security makes them an ideal partner to develop new markets and bring more volume to our network.”

Better price execution

The partnership is set to boost BingX’s status as a platform for investors seeking faster and better services.

Specifically, the deep liquidity is set to enhance customer confidence as order books increase. The overall trading experience will also improve with faster transactions and better price execution- something that will significantly cut trading costs.

BingX has added several coins in recent months as it looks to attract more customers and provide the best trading experiences for its users. Among coins added recently are Avalanche (AVAX), Algorand (ALGO), Sushi (SUSHI) and Solana (SOL).

These are among over 300 spot trading pairs on the platform, with earlier support including OmiseGo (OMG) and Stellar (XLM).

The post BingX integrates WOO Network’s deep liquidity solution Wootrade appeared first on Coin Journal.