#CryptoCorner: Market Steadily Grows Over Weekend, Fit Pay Joins with Rapper Lil’ Flip for Contactless Payment Device, India’s Central Bank Tells Supreme Court to Regulate #Crypto and #Coinbase Forms a PAC
#CryptoCorner: Market Steadily Grows Over Weekend, Fit Pay
Joins with Rapper Lil’ Flip for Contactless Payment Device, India’s Central
Bank Tells Supreme Court to Regulate #Crypto and #Coinbase Forms a PAC
July 23rd
#CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay
($NXTD)
Point Roberts, WA, Delta BC – July 23, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner, now available in podcast.
Listen to today’s Crypto Corner Podcast:
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Crypto Corner – July 23, 2018
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/07231FitPay-LilFlip-India-Coinbase.asp
Market Steadily
Grows Over Weekend, Fit Pay Joins with Rapper Lil’ Flip for Contactless Payment
Device, India’s Central Bank Tells Supreme Court to Regulate Crypto and
Coinbase Forms a PAC
Stocks discussed:
(Nasdaq:NXTD)
The total market cap this morning is sitting at
$287 billion USD, according to data from CoinMarketCap. The market peaked at $300 billion USD on
Wednesday last week, only to drop $25 billion USD by Friday, so this represents
a steady recovery. Bitcoin (BTC) is trading at $7700 USD and holds a 46 percent
market share at press time.
Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announced a co-marketing agreement with rapper, record producer and entrepreneur
Wesley Eric Weston, Jr., better known as Lil' Flip aka "Flip Gate$".
Under the agreement, Lil' Flip and FitPay will collaborate to market a
contactless payment device that allows Bitcoin holders to make contactless
payments in millions of retail locations with value exchanged from their
cryptocurrency. The device, which will include artwork designed by Lil' Flip
and carry his branding, leverages the FitPay® Bitcoin Exchange and payment
Token Requestor platforms.
The coin-shaped device will store a
preloaded amount of U.S. dollars that are exchanged from the user's existing
Bitcoin account and has a digital wallet that allows users to set how much
value they would like their device to hold and when they would like it to
reload. It includes near field communication (NFC) antenna allowing users to
tap and pay at any retail point of sale location that accepts contactless
payments. The artwork on the device will be designed by Lil' Flip and reflect
his branding.
Lil’ Flip explained the agreement:
"I've always been ahead of my time. This move
was planned 10 years ago. I'm a calculated mastermind. I pattern my biz moves
after greats like J.Prince, Warren Buffet, Jay-Z and Bill Gates. That's why my
nickname is FLIP GATE$ and don't forget the dollar sign. Checkmate!!!!!
#KINGLIFE. Great to work with a company like FitPay that is forward thinking
and shares my vision."
India’s central bank, the Reserve Bank of India
(RBI), told the country’s supreme court on Friday that it is necessary to
regulate cryptocurrencies like Bitcoin. According to the Financial Express, the RBI’s senior counsel, Shyam Divan, told Chief Justice Dipak Misra
that without regulation, crypto will “encourage illegal transactions and also
impact international flow of funds” Advocating for regulation seems to be more
mild than the RBI’s crypto ban issued in April.
Trading and wallet giant Coinbase has become the
first U.S. crypto entity to form a Political Action Committee (PAC), according
to documents made public on Friday. The move could be seen as an attempt by Coinbase
to secure more political clout in a time where the regulatory state of the
crypto market is uncertain.
Sam Mowers, Investorideas
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of
cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD).
By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders
to seamlessly exchange their cryptocurrency for US dollars and store that value
on a contactless payment device that can be used to make purchases at millions
of retail locations. https://www.fliptopay.com/
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