Category: Cryptocurrency Investment

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Central African Republic to Launch Bitcoin, Crypto Hub

After adopting bitcoin as legal tender, the Central African Republic now wants to create a cryptocurrency economic zone: Sango.

The Central African Republic (CAR), the second country in the world to adopt bitcoin as a legal tender after El Salvador, plans to develop a hub to attract cryptocurrency businesses and enthusiasts to the country.

The initiative, called Sango, was initiated by the National Assembly of the Central African Republic with the support of President Faustin-Archange Touadéra, according to a 24-page document detailing the project’s objectives. Sango seeks to “pave the way for a digital future of infinite possibilities,” according to its website. Touadéra tweeted in support of Sango on Tuesday.

In addition to building a legal Bitcoin and cryptocurrency hub recognized by its parliament, Sango intends to take “the legacy of Bitcoin to the next level” and institute a “cryptocurrency economic zone” on Sango Island where users will be able to propose, view and contribute to its future development.

According to the document, CAR’s plans include “facilitating bitcoin land acquisition for investors around the world” and creating a National Digital Bank. The government said in the document that it would also “fully support” access to the country’s natural resources such as gold, diamonds, uranium, lithium and oil.

Sango’s legal framework will include an electronic residency program, citizenship by investment, online business registration and no income or corporate taxes, according to the document. CAR plans to design this specific legal framework before the end of 2022.

The document also mentions the creation of a Bitcoin wallet to send, receive and store BTC that will be compatible with the Lightning Network, Bitcoin’s second layer protocol for cheaper and faster payments. The wallet will also support points of sale (PoS) for businesses to accept bitcoin payments and have an integrated accounting system.

CAR also plans to complete the Central African Backbone (CAB) Internet interconnection before the end of the year to drive its “total digital transformation,” it said in the document.

CAR last month became the second country in the world to adopt bitcoin as a legal tender after El Salvador pioneered the global stage with its Bitcoin Law in September 2021.

The news from downtown Sango comes to attract foreign investors to the country, likely in an attempt to further develop a nation that has one of the lowest GDPs, according to World Bank data.

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Second largest bank in Japan to launch institutional Bitcoin and cryptocurrency custody services

Sumitomo Mitsui Trust will partner with Bitbank to form a company focused on institutional custody services for bitcoin and other cryptocurrencies.

Japanese bank Sumitomo Mitsui Trust is launching a new company for institutional clients seeking custody services for bitcoin and other cryptocurrencies.

The new company will be called Japan Digital Asset Trust and is a joint venture with 85% owned by Bitbank and 15% owned by Mitsui Trust.

The company reportedly has $2.3 million in committed capital for the launch and expects to raise a total of $78 million.

Sumitomo Mitsui Trust, Japan’s second-largest bank, is creating a new company called the Japan Digital Asset Trust to offer custody services for bitcoin and other cryptocurrencies to institutional clients, according to a report by Nikkei Asia.

The new company will hold assets such as bitcoin and other cryptocurrencies for large investors and corporations because the company believes investors will feel more comfortable if custody of these assets can be held by trusted financial institutions.

The Japan Digital Asset Trust will be a majority-owned joint venture by Bitbank, a Tokyo-based cryptocurrency exchange, which will control 85% of the company. The remaining 15% of the property will be owned by Mitsui.

The new company is expected to have $2.3 million in equity at launch and hopes to raise enough capital from investors to reach a target of $78 million.

This announcement follows news that competing Japanese bank Nomura Holdings Inc. also recently announced that it would create a subsidiary to offer escrow services to institutional clients looking to acquire bitcoin and other cryptocurrencies.

When scaled down to the global scale, the adoption of bitcoin as an institutional asset class is on the rise as the Mitsui Trust joins other financial institutions such as BNY Mellon, which last year supported a cryptocurrency exchange. Likewise, Fidelity created Bitcoin First, which was a resource to show institutional investors why they should invest in bitcoin before any other cryptocurrency, and subsequently offered bitcoin-based products.

World banking leader Morgan Stanley also published a report on the viability of bitcoin as a currency following the events of Jack Maller’s Bitcoin 2022 announcement, where he announced that Strike, his Bitcoin infrastructure company, had integrated with the provider. the world.

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Top Coins To Buy As We Enter The Second Half Of 2022

2022 seems to have passed very quickly for most cryptocurrency investors. The market did not perform as expected, but we did not see any big drops. As we enter the second half of the year, there are some opportunities to make some serious money. This is why:

Most of the coins haven't really made it to the top and are still heavily discounted.



The second half of the year could bring a change in fortunes as more investors enter the market.



The general outlook for many coins remains good, even with the drop during the first half of 2022.

So, we decided to create a list of two coins that we think could explode in the latter half of 2022. Here they are:

Polygon (MATIC)

In early 2022, a coin destined for great things was the Polygon (MATIC). Analysts around the world felt that the altcoin would challenge big projects like Ethereum and Solana. This was after MATIC delivered incredible profits to investors a year earlier.

But fast-forward six months to 2022, MATIC has shrunk dramatically. At the moment, it is very difficult to see how the altcoin will live up to the high expectations set earlier in the year. But we think that Polygon and its fundamentals will be good enough to attract more buyers. As such, MATIC can offer growth of up to 4x the current price.

cosmos (atom)

One thing we love about Cosmos (ATOM) is his incredible resilience. Yes, the coin has suffered losses this year. But compared to the rest of the market, it actually managed to avoid big sales.

We also believe that the coin is significantly undervalued, especially when you look at its roadmap and vision for the future. For this reason, ATOM is highly recommended for the rest of the year.

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Crypto Exchange Coinbase Reveals New DApp Wallet and Browser for Ethereum (ETH) Network

US-based cryptocurrency trading platform Coinbase is launching new ways for users to access decentralized applications (DApps) in the Ethereum (ETH) ecosystem.

The cryptocurrency exchange says it is launching a new DApp wallet and browser that will allow users to purchase digital collectibles, trade crypto assets on decentralized exchanges, and participate in decentralized finance (DeFi).

The new Ethereum-based wallet and DApp browser will be directly accessed from the Coinbase app and will initially be available to a limited number of US users. The DApp wallet and browser will also initially be available on the Android mobile operating system.

“We will launch the ability for a small set of Coinbase app users to access Ethereum-based DApps directly from the Coinbase app. This includes buying NFTs [non-fungible tokens] on marketplaces like Coinbase NFT and OpenSea, trading on decentralized exchanges like Uniswap and Sushiswap, and borrowing, lending or trading on DeFi platforms like Compound and Curve.”

According to Coinbase, interest in DApps and the third generation of the internet, or Web 3.0, skyrocketed with the total value locked in Ethereum-based DeFi protocols exceeding $110 billion, while token sales did not. Fungibles (NFTs) topped the US$30 billion. in the last 12 months.

One of the features of the new Coinbase DApps is an improved recovery process in case of loss of access to a device.

“With today’s release, users can explore DApps without having to manage a recovery phrase.

This innovative DApp wallet experience is powered by Multi-Party Computation (MPC) technology that allows you to have a dedicated on-chain wallet that Coinbase helps keep secure. This is due to the way this wallet is set up, which allows the ‘key’ to be split between you and Coinbase.

Ultimately, this means that if you lose access to your device, your DApp wallet key will still be safe and Coinbase can help you with recovery through our live support.”

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Brazilian Stock Exchange To Begin Trading Bitcoin Futures This Year

B3, the Brazilian stock exchange, will begin trading bitcoin futures contracts within the next three to six months and hopes to offer crypto-based services.

  • B3, the Brazilian stock exchange, will begin trading BTC futures in three to six months.
  • This past January, the CFO of B3 announced plans to trade futures based on bitcoin and other cryptocurrencies.
  • The CFO also mentioned becoming a service provider of custodial solutions, as well as a settlement provider for the growing ecosystem during January.

The Brazilian stock exchange known as B3 (Brasil, Bolsa, Balcão) will begin trading futures contracts for bitcoin within the next three to six months, according to a report from Valor.

“We plan to launch bitcoin futures in the next three to six months,” CFO André Milanez reportedly said on a conference call.

No details were offered on whether or not B3 had partnerships lined up to offer the products or if another company would be providing infrastructure. This past January, Valor reported that Jochen Mielke de Lima, director of information technology at B3 stated the exchange’s intentions of releasing BTC futures.

During the January interview, Mielke noted that B3 had been looking into bitcoin and other cryptocurrencies since 2016, but that the issue of valuing the assets against either the dollar or the Brazilian real played a confusing role in B3’s determination.

“We are identifying points of friction that we can help solve to face it, such as helping our customers provide the best access to their end customers,” he said.

B3 noted that similarities between the equities market including: trade, settlement and custody, are all issues that the exchange believes it can offer services for.

“We have around 30 national crypto brokers, apart from the international ones that operate here. We could offer a service to facilitate and standardize their operations. I believe you have something to explore in providing custody services and the settlement process,” Mielke told Valor in the January interview.