This week in FinTech, BTC’s market cap passed a long awaited level, traveling just got a whole more decentralized, and crypto is speeding toward institutional adoption.
Over the weekend…
Bitcoin’s market cap is larger than that of Intel and Coca Cola at $205 billion. Surpassing the $200 billion mark was caused by the bullish environment started during July 2020.
Travala added over 600k hotels to their crypto booking platform through partnership with Agoda. They offer over 90k destinations. Cryptacation, anyone?
Swiss bank Basler Kontonalbank announced it will launch crypto services trhough Bank Cler, its subsidiary. These services will include trading and deposits.
Sberbank, Russia’s largest bank, announced it is looking into issuing its own stablecoin, pegged to the ruble. It would comply with the recently issued crypto law.
It looks like something good came out of the Twitter hack — A panel of crypto compliance experts were pleased to report that institutional and governmental perception of crypto is shifting. The Twitter hack showed on a broader stage how effectual blockchain analytics can be when solving crime, as the investigation would not have gone so smoothly and fast otherwise.
Indian authorities are working toward a new ruling that bans cryptocurrency trading. This comes after much debate and confusion around Indian officials’ stance on cryptocurrencies.
Coca cola bottler Coke One North America will be using blockchain to enhance their supply chain management. These results will be published in Q4.
A Bloomberg report stated that BTC’s price is stabilizing at 6 times the price of gold. If this trend remains steady, we could be looking at near a near 20k price soon.
Grayscale Ethereum Trust voluntarily filed to be an SEC-reporting company. It would be the second crypto investment firm to attain this status.
Whale alert! Someone transferred $1 billion (almost 100k BTC) for a $4 fee. Although this fee is considered high for bitcoin, this is a good reminder of digital currency’s benefits. How much would it cost to wire the same amount through a bank?
Crypto activity in Nigeria has been on the rise since April and the country has one of the fastest-growing crypto markets in the world, according to a blockchain.com report. It also has the highest number of “bitcoin” google searches in the world.
The SEC voted Hester Peirce in again for a second term, which will last until 2025. Pierce has been dubbed “crypto mom” and her win is welcome news to the crypto community.
EVShare, an energy and transportation startup, will launch an energy-sharing pilot using bitcoin sidechain. The program will connect 50 households and will track data such as actions that reduce their carbon footprint to reward with tokens.
For more information on these stories, visit:
Basler Kontonalbank: https://finance.yahoo.com/news/swiss-government-backed-bank-basler-114047641.html#:~:text=(%2D0.31%25)-,Swiss%20government%2Dbacked%20bank%20Basler%20Kantonalbank%20to,crypto%20trading%20and%20custody%20services&text=Basler%20Kantonalbank%2C%20a%20Switzerland%2Dbased,via%20its%20subsidiary%20Bank%20Cler.