#CryptoCorner: BTC Breaks $4K Over Weekend Rally, Citigroup (NYSE: $C) Scraps Crypto Coin and Startup 2gether Announces Prepaid Visa That Allows #Crypto Transactions
#CryptoCorner:
BTC Breaks $4K Over Weekend Rally,
Citigroup (NYSE: $C) Scraps Crypto Coin and Startup 2gether Announces Prepaid
Visa That Allows #Crypto Transactions
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2019 - Investorideas.com, a leader in
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March
18
Crypto Corner
BTC Breaks $4K Over Weekend Rally, South
Korean Messaging App Kakao to Integrate Crypto Wallet, Citigroup Scraps Crypto
Coin and Startup 2gether Announces Prepaid Visa That Allows Crypto Transactions
Stocks discussed: (NYSE:C)
The crypto market
gained some steam over the weekend. According to data from CoinMarketCap,
it peaked at $141.5 billion on Friday, and has settled at a market cap of
$139.5 billion at press time. Particularly impressive was the rally by Bitcoin
Cash (BCH), which began the weekend trading for
about $140 and at press time is trading for $163. Meanwhile, the flagship
cryptocurrency, Bitcoin (BTC) sits at about a $71 billion market cap
and is trading for $4030 at press time, having cleared the elusive support
level on Friday.
fnnews,
a South Korean outlet, reports that Korean messaging app Kakao, which boasts
some 44 million users, is integrating a password-protected crypto wallet to its
service. In a statement to CCN, Heslin Kim, South Korea-based CEO of
BlockchainROK, said of the news:
Kakao is representative of South Korea, a
country with over 55 million people. It embodies the fast paced, technology
driven lifestyle that Koreans adopt so readily. It’s an app so deeply attached
to what it means to be Korean.
The fact that one of the most widely
adopted apps, with over 95% market share, is publicly promoting and spreading
blockchain/crypto is tremendous for mainstream adoption. Connect the dots with
the market share and total population. With Samsung’s S10 and now Kakao’s
wallet we can continuously expect Korea to be at the forefront of the DLT
disruption.
CoinDesk reports that Citigroup’s (NYSE:C) proposed cryptocurrency, Citicoin,
which was initially announced four years ago, has been cancelled. The company
has decided to put the work and research that was invested in the project and
instead use it to improve existing systems. Gulru Atak, global head of
innovation for treasury and trade solutions, and chief of Citigroup’s
innovation lab, told the outlet:
“Based on our learnings from that
experiment we actually decided to make meaningful improvements in the existing
rails by leveraging the payments ecosystem and within that ecosystem, we are
considering the fintechs as well or the regulators around the world as well,
including SWIFT.”
According to an official
announcement, banking startup 2gether is launching a prepaid Visa
card in Europe that allows users to make transactions using cryptocurrencies.
Users can also buy, sell and trade the seven supported cryptos, which include:
Ether (ETH), Bitcoin (BTC), XRP, Bitcoin Cash (BCH), EOS, Stellar (XLM), and Litecoin (LTC). An excerpt from the press release reads:
2gether’s
prepaid Visa debit card allows consumers to spend crypto as easily as if they
were euros anywhere, instantly without fees. Whether it be shopping at your
favorite boutique or taking a friend out for dinner, users simply swipe their
2gether card and it seamlessly integrates cryptocurrency into the everyday
lives of its customers, essentially paying with crypto without even realizing
it.
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
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