If we could define this week with one word to the crypto market it would be: Adoption. Throughout the week different important companies from the traditional world have reported their most recent bets in the crypto market. We will tell you the most important!
Visa completed a crypto transaction using USDC
We started on Monday, March 29, with the news that Visa would have established a new bridge that reduces friction between the crypto market and fiat currencies.
Basically Visa announced its partnership with crypto exchange Crypto.com to offer a cryptocurrency settlement system for fiat transactions later this year, specifically through the crypto USD Coin (USDC).
Cuy Sheffield, director of crypto at Visa, assured Reuters that his clients are in high demand for crypto products.
Previously, if a customer decided to use their Crypto.com Visa card to make their purchases, the crypto in their wallet had to switch to traditional money. This obviously increased transaction costs, but now that is a thing of the past.
PayPal enables crypto payments for its US customers.
Just one day after the previous news, on March 30, the crypto market received the news that PayPal has launched Checkout With Crypto, a service that allows its customers in the United States to access crypto payments.
Dan Schulman, CEO of PayPal, said that it is the first time that crypto such as a credit card or debit card can be used in PayPal.
Goldman Sachs Plans To Launch Its Crypto Investment Product Given Demand
On March 31, Goldman Sachs reported that it estimates that its crypto investment product in Bitcoin could be available during the second quarter of this year.
Mary Rich, the bank’s global head of digital assets, explained that the firm seeks to offer a “full spectrum” of investments in the emerging asset class.
Likewise, Rich assured that there is an important demand from clients who are considering the crypto market as a hedge against inflation and, with this, they demand more related investment products.
CME Group to offer micro futures contracts on Bitcoin
Futures contracts on Bitcoin are one of the most important investment instruments in the crypto world. And now, CME Group has announced the launch of micro futures contracts on Bitcoin.
According to its website, CME Group’s crypto product will be available from May 3. This will allow CME investors to buy contracts for one tenth of the value of a Bitcoin, otherwise enjoying all the advantages that buyers of normal CME Group future contracts have.
Jay Clayton warns that Bitcoin will not save itself from regulators
After reading all the news above, it is clear that the crypto market is expanding and thereby attracting the attention of regulators.
In this sense, in an interview, Jay Clayton, former president of the SEC, assured that, although Bitcoin is not a security, it will not be saved from crypto regulation.
He further added that, “indeed, where digital crypto assets land at the end of the day, which is a far-reaching issue, will be driven in part by regulation, both national and international, and I hope, and speak as a citizen now, that Regulation will come in this area both directly and indirectly, either through how banks, security accounts, taxes and the like are maintained. ‘
Elon Musk does it again and Dogecoin soars
Among other important news, on April 2, Tesla CEO Elon Musk again triggered a Dogecoin price pump.
Through his Twitter account, the renowned and eccentric businessman Elon Musk, indicated that SpaceX will put the cryptocurrency “literally on the Moon.” And, unsurprisingly, this contributed to the crypto’s rise to its highest level since mid-February.
In a few lines …
Coinbase confirmed to have received the green light from the SEC to publicly list as of April 14. Famous Shark Tank investor Mark Cuban comments that he has invested large amounts of money in crypto ETH. JP Morgan analysts predict crypto leader will continue to gain ground in financial markets for years to come.
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