#CryptoCorner: Biggest Swiss Online Retailer Allows #Crypto Transactions, IBM (NYSE: $IBM) Tells Bloomberg of Bank Interest in Creating Coins, Dubai Gets #Bitcoin ATM

#CryptoCorner: Biggest Swiss Online Retailer Allows #Crypto Transactions, IBM (NYSE: $IBM) Tells Bloomberg of Bank Interest in Creating Coins, Dubai Gets #Bitcoin ATM

Stocks discussed: (NYSE:IBM) (NYSE:JPM)

Point Roberts, WA, Delta BC,  March 19, 2019 -  Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s  (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and  the Genesis Exchange and Wallet  App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .

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March 19 Crypto Corner

Biggest Swiss Online Retailer Allows Crypto Transactions, Japan Regulates Margin Trading on Crypto, IBM Tells Bloomberg of Bank Interest in Creating Coins, Dubai Gets Bitcoin ATM and Bithumb to Cut Up To Half of Staff
Stocks discussed: (NYSE:IBM) (NYSE:JPM)

Swiss online retailer, Digitec Galaxus, announced today that it will begin accepting cryptocurrency transactions effective immediately. The retailer, which is the largest in Switzerland, will accept payment in Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ether (ETH), XRP, Binance Coin (BNB), Litecoin (LTC), Tron (TRX), NEO and OmiseGo (OMG) for transactions over CHF 200 ($200 USD). Oliver Herren, CIO and co-founder of Digitec Galaxus, said:

“Cryptocurrencies are fascinating and likely to become a relevant means of payment in e-commerce – we want to support this development. Of course I’m expecting all crypto millionaires in Switzerland to only buy from us in the future ;-)”

Nikkei Asian Review reports that Japan’s financial authorities have restricted cryptocurrency margin trading at  two to four times initial deposits. Furthermore, crypto exchanges that handle margin trading are required to register with authorities within 18 months of the new legislation, which will be implemented in April 2020.

Bloomberg reports that IBM (NYSE:IBM) claims that at least two major U.S. banks are thinking about following JPMorgan (NYSE:JPM) in launching their own crypto. Jesse Lund, IBM’s vice president of blockchain, told Bloomberg:

“We have received interest on the heels of JPM Coin,” and that the two other banks, which he declined to name “reached out to us after that announcement.”

He went on to say:

“There’s a new revenue opportunity for banks. Banks are now starting to catch the buzz.”

CCN reports that Dubai has landed its first crypto-cash ATM. The kiosk is fully functional, allowing users to purchase cryptocurrencies for cash. It is located in the Rixos Premium, a 5-star hotel in the Jumeirah Beach Residence.

Major South Korean crypto exchange Bithumb has revealed plans to cut its staff by up to 50 percent, according to a report from CoinDesk. This would reduce the current staff of 310 to around 150. An official from Bithumb told CoinDesk:

“Voluntary retirement is part of our support program for former employees and is intended to provide assistance and training for job placement. Apart from that, [Bithumb’s] trading volume has decreased compared to the previous year, [so] we are trying to provide internal measures. We will continue to add necessary personnel for various new businesses.”

Sam Mowers, Investorideas

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