Posts in category

Merchants


Technology giant Tencent is trialing a new blockchain-based feature on its popular WeChat messaging app that is aimed to speed up the reimbursement of expenses for company employees. According to a blog post published on Friday, Tencent has piloted the application at a local restaurant in Shenzhen, China, where a user paid the bill through its …

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U.S.-based cryptocurrency exchange platform Coinbase has announced a new service aimed to boost cryptocurrency payment options for e-commerce businesses. According to a blog post published Thursday, Coinbase Commerce – the startup’s non-custodial cryptocurrency payment solution for merchants – has now launched a plugin for popular e-commerce platform WooCommerce. WooCommerce, going by figures cited by Coinbase, currently provides …

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U.S.-based custody bank Northern Trust is helping traditional “mainstream” hedge funds expand into cryptocurrencies, Forbes reported Tuesday. Northern Trust’s president, Pete Cherecwich, told the news organization that the financial services firm is working with three hedge funds – whose names he declined to provide – to add cryptocurrency investments to their portfolios. To that end, Northern Trust …

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Cryptocurrency payments startup Ripple is partnering with Madonna to raise funds for orphans in the African nation of Malawi. The legendary pop icon announced the fundraiser Monday as a way to celebrate her 60th birthday, saying all donations would go to Raising Malawi, a non-profit organization she co-founded with American screenwriter Michael Berg in 2006, to support its …

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Cryptocurrency merchant bank Galaxy Digital is set to trade on Toronto’s TSX Venture Exchange on August 1, Bloomberg reported Monday. The cryptocurrency merchant bank, which was first announced in January, received final approval from Canadian regulators to begin trading, founder and billionaire investor Michael Novogratz told BNN Bloomberg Toronto. He called the process to receive …

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Singapore Airlines has officially launched its blockchain-based loyalty program for frequent customers. KrisPay, a digital wallet developed in partnership with KPMG and Microsoft, allows Singapore Airlines customers to turn travel miles into units of payment, which can be used with partner merchants in Singapore. Most notably, however, the newly dubbed KrisFlyer program utilizes a blockchain …

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Digital Asset announced Monday that it teaming up with Google Cloud to provide a set of tools and services for solutions architects wanting to develop blockchain applications without having to code them from scratch. Through the partnership, Digital Asset will provide both software tools and support to developers entering the space, according to a press …

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The Consumer Financial Protection Bureau is launching a regulatory sandbox to encourage blockchain and other financial technology innovation, acting head Mick Mulvaney announced Wednesday. The CFPB wants to assist companies developing these new technologies, as well as the “products and services” offered by them, the Wall Street Journal reported. Mulvaney told the newspaper that the …

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Jerome Powell, chairman of the U.S. Federal Reserve, had some harsh words for cryptocurrencies during an appearance before the U.S. Congress. Speaking to the House Financial Services Committee, the head of U.S. central bank said Wednesday that cryptocurrencies have no “intrinsic value” and presented severe risks to investors, as CNBC reported. Part of his concerns …

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Litecoin creator Charlie Lee could be made a board member at the German bank the Litecoin Foundation – the group in which he serves as managing director – recently obtained a stake in. The deal for a 9.9 percent stake in WEG Bank AG resulted through a partnership with the crypto startup TokenPay, as previously …

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A group of Russian military intelligence officers indicted Friday as part of an ongoing investigation into Russian interference in the 2016 U.S. presidential election allegedly used bitcoin to fund their operations. In the just-released indictment, prosecutors assert that the 12 named intelligence officers hacked computer networks and email accounts owned and used by the U.S. Democratic Party, …

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A few lucky merchants now have one less obstacle to accepting bitcoin payments via the Lightning Network. Revealed exclusively to CoinDesk, payment processing startup CoinGate is opening up a pilot program that will allow 100 merchants to trial a Lightning-enabled version of its service, one which taps into the open-source tech meant to make bitcoin …

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Walmart has yet another delivery-focused blockchain patent in the works. The application published on July 5 is entitled “Delivery Reservation Apparatus and Method,” and as suggested, it outlines a way for managing package reservations in the context of the purchaser not being available to actually receive it. It’s the latest “smart delivery” intellectual property play …

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Cryptocurrency exchange Gemini has hired former New York Stock Exchange (NYSE) chief information officer Robert Cornish to serve as its first chief technology officer. The exchange, founded by investor-brothers Cameron and Tyler Winklevoss, announced Friday that Cornish would be in charge of Gemini’s technology team and strategy, according to a press release. Further, Cornish will …

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Analysts for Bernstein contended in a report published Friday that the cryptocurrency ecosystem is developing an alternative to Wall Street. The report argues that the blockchain industry is setting up “parallel financial networks” that exist as alternatives to incumbent systems in operation today. And while these new platforms still operate “on the fringes of the …

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Bittrex, a U.S.-based cryptocurrency exchange platform, and invest.com, a fintech startup based in London, are set to launch a new EU-focused crypto trading platform. The collaboration, announced Thursday, aims to provide cryptocurrency investors with “the ultimate platform to trade cryptocurrency in a safe and secure environment,” according to a press release. The firms will leverage …

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Coinbase’s institutional product has begun accepting deposits, the exchange announced Monday. The exchange’s new Coinbase Custody sevice, aimed at institutional hedge funds and other clients who can deposit a minimum of $10 million, accepted its first deposit last week, the company announced on Twitter. In addition, the new service is now live for all customers. …

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Coinbase CEO and co-founder Brian Armstrong wants to help the unbanked access financial services. On Wednesday, the exchange’s co-founder announced he was launching a nonprofit organization to financially empower individuals and donate cryptocurrency to the unbanked worldwide. GiveCrypto.org aims to partner with other nonprofit entities to find potential recipients who could benefit from these cryptocurrency …

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Digital money platform Uphold is looking to become a broker-dealer in the U.S. after acquiring a registered firm called JNK Securities, it was announced Wednesday. The company has now filed with the Financial Industry Regulatory Authority (FINRA) for approval of the change of ownership to become a registered broker-dealer. Ultimately, Uphold hopes to offer security tokens, …

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Pharmaceuticals giant Merck is seeking a patent for a way to use blockchain in order to track goods as they move through the supply chain. Published last Thursday and submitted in December 2016, the patent application outlines a method by which a blockchain could be used to store information about a physical object – in …

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