Kategorie: Crypto Business

• Robinhood’s crypto section will be key as the trading platform seeks to venture into the global market.

• Regulation is one factor Robinhood wants to get right as it moves to go global “crypto first,” chief brokerage officer Steve Quirk noted.

Robinhood Markets Inc is looking to go global, and the easiest route to achieving that is through crypto, the company’s chief brokerage officer Steve Quirk told CNBC in an interview on Wednesday.

In 2021, Robinhood hit household-name status, with the meme craze theme pushed forward by retail investors driving active user numbers and trading volumes. Stocks of GameStop, AMC Entertainment, Blackberry and Virgin Galactic among others skyrocketed, and the company’s retail user numbers shot up.

But a decline in the fortunes of the meme stocks, as the broader markets faced selling pressure, has meant a reduction in retail trading numbers. And according to Quirk, the meme stocks are no longer among the top traded names on the platform.

Currently, Robinhood Crypto lists seven cryptocurrencies in Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC) and meme coin Dogecoin (DOGE).

The platform is exploring other crypto assets, which the chief brokerage officer says is being done in a way that fits regulatory requirements. The platform is also looking to add other features such as wallets, he added.

“We also have aspirations to take this brand global and we would do so crypto first,” he told CNBC’s ‘Squawk Box’.

Asked to explain what he met by “crypto first”, given the presence of Coinbase and other major crypto companies, Quirk noted:

“Well, I think the path for us to go global and have the most traction is through crypto, and maybe follow that with other components of the offering.”

He said that going the crypto way is the easiest avenue for the company to achieve its goal, citing regulatory aspects of the market and “other facets” of the market.

The California-based company saw its monthly active users decline over the fourth quarter, down to 17.3 million from 18.9 million in Q3. Monthly active users peaked above 21.3 million in June 2021.

The trading app is currently only available to US customers, having canceled its UK launch in 2020.

The post Robinhood plans to go global ‘crypto first’, says chief brokerage officer appeared first on Coin Journal.

• The NFT feature can be accessed via the ChangeNOW website as well as via mobile app, the exchange said in a statement.

• ChangeNOW hopes the new feature sparks further interest in crypto, accelerating adoption.

ChangeNOW, a leading non-custodial cryptocurrency exchange popular for its instant transactions, has added support for non-fungible tokens (NFTs) to its NOW Wallet, the exchange said in a press statement exclusively shared with CoinJournal.

The addition of the NFT support to the wallet means customers now have seamless access to features that allow them to send, receive and store NFT collections.

Users will also be able to easily and securely browse the marketplace “right from their fingertips”, ChangeNOW added in the announcement.

Mike Ermolaev, the head of PR at ChangeNOW told CoinJournal in emailed comments:

“New and experienced users alike are finding new uses for blockchain, web3, and the new technologies in crypto. As a response to these growing demands, we have integrated NFT functionality into NOW Wallet.We hope that this will cause more people to discover cryptocurrency’s innovative features and speed its adoption.”

He added that the launch of the new NFT feature is in line with the crypto platform’s “hallmarks” of providing simple and user-friendly crypto innovations.

The NFT market exploded into a multi-billion industry in 2021, looping in major institutions and celebrities. 

The trend continues in 2022, with more people looking to leverage the blockchain technology behind it to digitally store and keep ownership of unique items and content, from art to music, record keeping and certification to authenticity and property ownership in the metaverse.

A good example, ChangeNOW notes on its Twitter account, is Alfa Romeo’s NFT integration that sees the SUV utilise the technology to track car records.

🚗 Alfa Romeo’s new SUV uses #NFT to track car records!

“On the pre-owned car market, NFT certification represents an additional source of credibility,” @alfa_romeo’s press release says.#AlfaRomeoTonale integration is the prime example of the growing „useful“ #NFTs market. pic.twitter.com/PyiqmoKOcY

— ChangeNOW (@ChangeNOW_io) February 9, 2022

About ChangeNOW

The move to add NFT support to the official ChangeNOW wallet is a big boost for the crypto exchange, which offers access to over 380 crypto assets and more than 55 fiat currencies.

It also provides for fast, cheap, and transparent transactions, with fast crypto swaps that can be completed both via the exchange’s website and the ChangeNOW mobile app.

The NOW Wallet NFT section will support common token standards in ERC-721 and ERC-1155, the exchange said. Those eyeing other token standards should not worry as the platform will offer further support in due course.

The post ChangeNOW adds support for NFTs to its NOW Wallet appeared first on Coin Journal.

• GlobalBlock becomes Premier Sports Network (PSN)’s official digital asset partner

• The collaboration will see GlobalBlock get access to leading sports personalities and clubs, with an excellent opportunity to promote the adoption of crypto in the sports industry.

GlobalBlock UK, a wholly-owned subsidiary of GlobalBlock Digital Asset Trading Limited, has announced a partnership with the leading sports platform Premier Sports Network (PSN), with the goal of promoting the digital asset space within the global sports industry.

A press release shared with CoinJournal on Tuesday says that GlobalBlock UK is now the official digital assets partner of PSN.

The deal will see the UK-based crypto brokerage service provider get exclusive access to sports leaders from across the world.

Of particular note will be the massive exposure and collaborations GlobalBlock will get from its interactions with the English Premier League (EPL) and Premiership Rugby, the company said in the statement.

Promoting crypto adoption and education

GlobalBlock’s head of partnerships Ben Small noted that the sports industry is seeing increased adoption of crypto for payments. He pointed to the rising number of clubs, players, and companies paying salaries, or penning sponsorship deals in cryptocurrency as a “tremendous opportunity” for growth.

“This is a very exciting deal for us and we are delighted to be PSN’s official digital asset partner. We see this as a tremendous growth opportunity for GlobalBlock, not only to capitalise on the increasing trend of adoption of crypto within sports, but to provide education to PSN’s stakeholders,” Small added.

Kai McKechnie, head of marketing at PSN said the partnership will help enhance crypto education.

„The lack of crypto education and its regulation within the sports sector are key areas that need to be addressed and in partnership with GlobalBlock we will support the industry with a trusted service,“ McKechnie said.

The partnership will allow GlobalBlock UK to work with PSN on several projects, including referrals to sports clubs and educational workshops. The digital asset firm will also feature in PSN’s magazine and newsletters.

GlobalBlock Limited was established in 2018 and is registered in the UK as a crypto asset business. The company, which provides execution trading and safe custody services to individuals and institutions, has applied for full licensing from the Financial Conduct Authority (FCA)

The EPL has increasingly seen clubs look at the potential use of crypto in their business, with moves into non-fungible tokens (NFTs) and fan tokens already taking root.

The post Globalblock partners Premier Sports Network to promote crypto adoption in global sports appeared first on Coin Journal.

• Entain owns Ladbrokes, Coral and bwin among other 25 subsidiaries in the sports betting and gambling space.
• The company’s new innovation hub Ennovate will partner with Verizon, BT and Theta Labs on projects in the metaverse.

Entain plc., a leading sports betting and gaming company that owns major subsidiaries such as Ladbrokes, Coral and bwin, has announced a new innovation lab targeted at interactive sports in the metaverse.

Dubbed “Ennovate”, the platform will also see an investment of £100 million ($133 million) put into start-ups and applications in the non-fungible token (NFT) space, the company said in a statement.

According to the company, £40 million ($53.6 million) will be used in immersive sports and entertainment projects in the UK market.

Entain CEO Jette Nygaard-Andersen said that the sports betting and gambling giant is taking the step as it looks to be a leading player in the race to provide “interactive entertainment for the metaverse.”

She noted that the company seeks to offer its customers new products and experiences, with Ennovate developers leveraging the UK-based firm’s cutting-edge technology to deliver the best in the space.

The firm will also use its position in the tech space to help drive innovation and see broader benefits from the new experiences reach consumers as well as the wider society, she added.

“Our goal is to bring the most exciting experiences in immersive sport, gaming and interactive entertainment to life as the metaverse takes shape,” added Sandeep Tiku, the COO.

Entain expects to have the lab’s first projects roll out in London in March, with initial partners being telecommunications giants Verizon and BT. Blockchain platform Theta Labs is also a partner.

Entain’s venture comes even as a slew of companies look to enter the metaverse space, including big tech firms Meta Platforms, Apple Inc., and Google.

Recently, US retailer Walmart was reported to be making moves into the metaverse and NFTs space.

The virtual world industry is creating a ‘gold rush’ moment for several other companies, including gaming platform Roblox, sportswear giant Nike, and Chinese multinational Tencent.

The post Entain to invest $133 million in NFT and metaverse innovation lab appeared first on Coin Journal.

• Visa processed $2.5 billion in crypto payments in the three months ended 31 December

• 65 platforms and exchanges have teamed up with Visa, including Coinbase and BlockFi

• CEO Al Kelly said the payments giant “will continue to lean into the crypto space.”

Visa customers used their crypto-linked card to make payments totaling $2.5 billion during the global payments firm’s fiscal first quarter of 2022 ended 31 December.

The company processed transactions worth $46.7 billion during the quarter, an increase of 21% on the volume reported in the same quarter a year ago.

The amounts pushed the electronic funds transfer behemoth’s crypto volume to 70% of what was recorded in the fiscal year 2021, CEO Al Kelly said in an earnings call.

According to the Visa chief, the massive jump in payments made via the company’s crypto-linked cards came as the number of platforms and exchanges signing up with them soared from 54 to 65.

Some of the big-name candidates on the network include crypto exchange Coinbase and BlockFi- a US-based crypto wealth management provider.

Merchants who accept Visa-linked crypto payments have also increased significantly, hitting 100 million during the quarter, the company said in its earnings statement.

Kelly noted that the credit card payments giant “will continue to lean into the crypto space,” as they look to help the sector grow. Part of Visa’s strategy for this, he explained, is to enhance partnerships that help ensure connectivity, reliability, and security, with an eye to scaling services and value proposition to customers.

Visa chief financial officer Vasant Prabhu said the growth in crypto-linked card payments is a signal that users see the utility in the offering, CNBC reported. 

He pointed out that customers are increasingly finding value through access to liquidity and instant, seamless purchases.

The Visa CFO also noted that volumes continued to rise despite the slump in crypto markets. He also added that the payments were spread across various merchant verticals, including at retailers, restaurants, and travel.

The company has no crypto holdings but has increasingly looked to support merchants and platforms. In December, it announced a crypto advisory service that targets helping institutions and merchants.

According to the company, this is due to the growing adoption of crypto across payments. The service also aims at helping customers seeking to explore the non-fungible tokens (NFTs) space and central bank digital currencies (CBDCs).

The post Visa says its crypto-linked card payments hit $2.5 billion in Q1 appeared first on Coin Journal.