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Coinbase Launches NFT Marketplace with Social Features to “Exponentially” Grow the Creator Community

The Coinbase cryptocurrency exchange is launching a peer-to-peer marketplace for non-fungible tokens (NFTs). The Nasdaq-listed company claims that “Coinbase NFT” will make “entering, buying, viewing and discovering NFT easier than ever”. Additionally, Coinbase said, “We will grow the creator community exponentially, a win for artists and fans alike.”

Coinbase NFT helps grow the creator community “exponentially”

Coinbase, a Nasdaq-listed cryptocurrency exchange, announced Tuesday that it was launching a non-fungible token (NFT) market. Sanchan Saxena, Vice President of Products at Coinbase, wrote:

Today we announced Coinbase NFT, a peer-to-peer marketplace that will make typing, buying, viewing, and discovering NFT easier than ever.

“Just as Coinbase helped millions of people access Bitcoin in a simple and reliable way for the first time, we want to do the same with NFTs,” he added.

Coinbase further stated, “All NFTs are in the chain. The first version will support the Ethereum-based standards ERC-721 and ERC-1155, with multi-chain support expected shortly afterwards. We offer the best user experience, but we will never block creators. Interested users can now register for Early Access.

The Coinbase Vice President noted that “Industries like fashion, games and music are realizing the power of NFTs to unleash new forms of creativity and ownership,” noted the Coinbase Vice President, “when you have tried to create or attempt to create an NFT buy, you’ve probably found the user experience to be bad. “

Aiming to simplify the process, Coinbase says, “We’re making NFTs more accessible by creating user-friendly interfaces that bring complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery.” The Vice President emphasized:

We will grow the creative community exponentially, a victory for artists and fans. 
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Google will help digital asset platform Bakkt introduce cryptocurrencies to millions of consumers

cryptocurrencies to millions of consumers
Digital asset platform Bakkt announced a partnership with Google “to bring digital assets to millions of consumers”. With this partnership, Bakkt says consumers will benefit from “extended reach and access” to cryptocurrencies.

Google collaborates with Bakkt to expand consumer access to cryptocurrencies

Intercontinental Exchange’s digital asset platform Bakkt said on Friday that it has partnered with Google “to bring digital assets to millions of consumers.” When forming a partnership with Google, Bakkt said:

Consumers will benefit from greater reach and access to digital assets.

Launched in 2018 by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), Bakkt allows institutions and consumers to buy, sell, store and spend digital assets, including cryptocurrencies.

Bakkt explained that “users will be able to add their Bakkt Visa virtual debit card to Google Pay to buy everyday products and services online, in stores or anywhere Google Pay is accepted.” Cryptocurrencies, such as bitcoin, will be converted into fiat currency for these payments to take place, the company said.

Several other cryptocurrency platforms have added Google Pay, including Bitpay and Coinbase, the Nasdaq-listed cryptocurrency exchange. The former added Google Pay for US cardholders to spend on encryption in August, while the latter allowed Coinbase card users to pay for Apple Pay and Google Pay in June.

Bakkt and Google Cloud

Additionally, Bakkt said that he has chosen Google Cloud as his preferred cloud provider. The company will market its Google Cloud-based solutions to major retailers and merchants across the United States. Bakkt also plans to leverage Google Cloud tools to create new analytics along with artificial intelligence (AI), machine learning (ML) and analytics capabilities. Platform. .

Bakkt CEO Gavin Michael said: “This partnership demonstrates Bakkt’s strong position in the digital asset market to enable consumers to enjoy their digital assets in real-time, securely and reliably.

Kirsten Kliphouse, president of Google Cloud North America, said:

We are proud to help Bakkt accelerate and develop the availability of its innovative solutions powered by our technologies. 
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U.S. Bank Launches Crypto Custody Services Amid Strong Demand From Institutional Clients

The US bank has launched its cryptocurrency custody services. “Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years,” the bank said.

US Bank Now Live Custody Encryption Services

The US bank announced Tuesday that its cryptocurrency escrow services are now live and available to its Global Fund Services clients.

U.S. Bancorp, with nearly 70,000 employees and $ 559 billion in assets as of June 30, is the U.S. holding company. Bank, the fifth largest bank in the country. The Minneapolis-based company serves millions of customers locally, nationally and globally. As of June 30, the US bank Wealth Management and Investment Services had more than $ 8.6 trillion in assets under custody and management and $ 282 billion in assets under global management.

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The services are aimed at privately funded institutional investment managers in the United States or the Cayman Islands who want an escrow solution for bitcoin, with additional support for future currencies.

“NYDIG, a leading Bitcoin financial services and technology company, is the first crypto sub-custodian announced on the bank’s provider network,” he adds. The New York Digital Investment Group (NYDIG) is the bitcoin investment arm of Stone Ridge Asset Management.

Gunjan Kedia, Vice President of Investment Services and Wealth Management, U.S. Bank said:

Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years. Our institutional custodian and our fund clients have improved their cryptocurrency offering plans and, in response, we have made it a priority to accelerate our ability to offer escrow services.

The US bank first established its blockchain and cryptocurrency practice in 2015, when the price of bitcoin was below 200. The price of BTC currently hovers around $ 50,000.

The bank announced the launch of three cryptocurrency offerings in April to meet “growing customer needs.” The first was the guard duty, which is now active. The second was an investment in Securrency, a developer of institutional-level financial and regulatory technology based on blockchain. The third was that the US bank had been selected to manage NYDIG’s bitcoin ETF this year, pending regulatory approvals.

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German asset manager Union Investment targets BTC exposure for various funds

German funds and asset managers are expanding their horizons for crypto investments as the country has more favorable laws for special funds. $ 500 billion asset manager Union Investment plans to add Bitcoin (BTC) to various mutual funds as part of a pilot program targeting its institutional clients.

The Frankfurt-based institute told Bloomberg on Monday that it plans to add BTC to a small number of mutual funds that will only be available to retail investors.

For each fund, exposure to Bitcoin is limited to a maximum of 2% of total assets. Portfolio manager Daniel Bathe said the new investment strategy is expected to start in the fourth quarter, although no set timeline has been specified.

Union Investment is the investment arm of the DZ Bank Group, an institute with more than 800 cooperative banks. As of June 2021, Union Investment managed assets of US $ 507 billion, making it one of the largest asset managers in Germany.

Germany is fast becoming a hotbed for cryptocurrency investments, especially among institutional players. A new law came into effect on August 2 that allows institutional funds to hold cryptocurrencies and paves the way for greater acceptance of digital assets, including among German pension funds. Meanwhile, German stock broker S Broker recently announced a range of crypto-focused product offerings. Related: What the SEC Can Learn From the German Regulator At the retail level, Germans don’t do that well when it comes to introducing cryptocurrencies, according to a recent survey by financial comparison site Finder.

The survey of 42,000 people estimated that only 11% of Germans were exposed to digital assets. While it is superior to the US and UK, it lags far behind emerging markets and other European countries. Bitcoin comes back to attention when the first cryptocurrency rises to $ 52,000. The price has recovered to about 79% from its summer lows. The total market capitalization of Bitcoin is once again approaching $ 1 trillion.