Date: 05/07/2021
“Both cryptocurrency and central bank-issued digital currencies can play a critical role in shaping a more inclusive recovery and a more equitable financial system.” — Dan Schulman
Weekly News Report:
1. Global payments giant Mastercard has conducted a survey of 15,569 consumers in 18 countries and found that 4 in 10 people plan to use cryptocurrency in the next year. Meanwhile, 93% of people will consider using at least one emerging payment method, such as cryptocurrency.
2. For the first time, customers of some U.S. banks will soon be able to buy, hold and sell bitcoin through their existing accounts, according to crypto custody firm NYDIG. Hundreds of banks are already enrolled in the program, according to Patrick Sells, head of bank solutions at NYDIG.
3. According to billionaire investor Mark Cuban, “the number of transactions and the diversity of transaction types along with the development efforts in Ethereum dwarf bitcoin. First, the Ethereum blockchain consistently processes more transactions per second than bitcoin’s, making payments faster and more productive. Second, it can support the creation of applications. Third, as an upgrade to the Ethereum blockchain called Ethereum 2.0, which launched in 2020, continues to roll out, “the impact of Ethereum could be greater than we currently imagine.”
4. Blockchain and cryptocurrency are among the top priorities of enterprises pursuing deep-tech solutions, a new survey reveals. 57% of large enterprises are actively developing deep-tech solutions in order to solve specific business problems, and blockchain is among their top five areas of interest.
5. Luxury Miami apartment Arte Surfside will now accept cryptocurrency as a form of payment for its remaining luxury residences. The region’s “most exclusive” condominium is already home to Ivanka Trump and Jared Kushner. It’s now attempting to appeal to crypto millionaires and billionaires attracted by Miami’s Bitcoin-friendly reputation.
6. Square’s quarterly earnings beat out expectations by more than double thanks to Bitcoin’s dramatic rally. Bitcoin alone drove $3.5 billion in revenue, an astonishing increase of 1,000% in just 12 months.
7. According to a new report, Goldman Sachs is offering investors access to crypto through non-deliverable forwards. The investment giant also filed for an ETF in March that includes the option to add exposure to Bitcoin.
8. Nasdaq-listed insurer Metromile plans $10M Bitcoin purchase. The company announced Thursday that it will soon give policyholders the option to pay for insurance and receive payment on eligible insurance claims in BTC or dollars. That makes Metromile the first insurance company to both accept premiums and pay insurance claims in cryptocurrency.
9. The National Bank of Kazakhstan, or NBRK, published Wednesday a report on a digital tenge pilot project and opened a public consultation on the potential central bank digital currency. The digital tenge’s potential is expected to become a crucial tool in fighting corruption in Kazakhstan.
10. During PayPal’s Quarter 1 2021 investor update call, president and CEO Dan Schulman said digital assets had performed strongly for the company and that he believes crypto and central bank digital currencies will be a driving force in forging “a more equitable financial system.”
11. The Bahamas is beginning a push for national digital currency adoption this summer, the central bank’s governor, John Rolle, said. The CBOB (Central Bank of the Bahamas) is now focused on connecting mobile Sand Dollar wallets with commercial banking systems.
12. The era of American banks regarding cryptocurrencies as evil might be coming to an end. U.S. lenders are keen to get in on the crypto trading action and could soon allow customers to buy Bitcoin right from their accounts.
13. Ryan Selkis, Dan Matuszewski, Qiao Wang, and Haseeb Qureshi join the new crypto donations initiative, Founders Circle, an industry group supporting The Giving Block’s new crypto-focused charity drive to donate at least 1% of their holdings to charities each year.
14. Singapore’s largest bank posts tenfold crypto volume growth in Q1 2021. DBS chief financial officer Chng Sok Hui said that the bank saw record performance as quarterly net profit surpassed $2 billion for the first time in history, doubling from the previous quarter.
15. S&P launches cryptocurrency indexes, debuting with Bitcoin and Ether. The newly introduced indexes include Bitcoin-based S&P Bitcoin Index (SPBTC), Ether-based S&P Ethereum Index (SPETH), and S&P Cryptocurrency MegaCap Index (SPCMC).
16. Glassnode predicts BTC rally as stablecoin supply tags record highs. Tether, USD Coin, Binance USD, and DAI are now worth more than $78 billion combined. The circulating supply of the four-largest stablecoins has spiked to new all-time highs, suggesting buyers could soon spark another leg up for the Bitcoin and crypto markets.
17. In an announcement Thursday, Sotheby’s said the curated auction from June 3–10 will feature “the first NFT ever minted” — Kevin McCoy’s “Quantum.”
