#CryptoCorner Episode 427: PayPal (NasdaqGS: $PYPL) Selects Paxos for #Crypto Trading Service, Mastercard (NYSE: $MA) Expands Crypto Program with Wirex
#CryptoCorner
Episode 427: PayPal (NasdaqGS: $PYPL) Selects Paxos for #Crypto Trading
Service, Mastercard (NYSE: $MA) Expands Crypto Program with Wirex
Point Roberts, WA, Delta BC July 20, 2020 -
Investorideas.com, a leader in crypto and blockchain investing news brings you
today’s edition of the Crypto Corner podcast and commentary on
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Stocks discussed: (NasdaqGS:PYPL) (NYSE:MA) (NYSE:MUFG)
CoinDesk reports that
PayPal (NasdaqGS:PYPL) has selected crypto startup Paxos
as a means to introduce a new crypto trading service, “according to two people
familiar with the matter.” Specifically, this will likely involve a partnership
with Paxos Crypto Brokerage, which can deliver the former’s crypto trading
services. Paxos Crypto Brokerage launched last week, with the announcement of
Revolut US, “the American division of the U.K.-based fintech firm that offers
bitcoin trading,” as its first customer. A formal announcement of this news
from PayPal may be expected this week sometime, according to one source.
Mastercard (NYSE:MA) today announced the expansion of
its cryptocurrency program, inviting cryptocurrency and crypto card partners to
its Accelerate program. It was also announced that digital payment platform
Wirex has become “the first native cryptocurrency platform to be granted a
Mastercard principal membership, allowing it to directly issue payment cards.”
Pavel Matveev, CEO and co-founder of Wirex, commented:
“We are very excited for Wirex to be the first
crypto-native company granted principal membership from Mastercard. It
represents a growing interest and recognition in the acceptance of
cryptocurrency by leading bodies and regulators and will help us to realize our
vision of empowering everyone to experience a world where all currencies,
traditional and crypto, are equal.”
Reuters reports that
Japan’s central bank, the Bank of Japan (BOJ), has created a team to look into
central bank digital currency (CBDC). This move was likely influenced “from
heightening demand for cashless payments and growing moves by its global peers
to eye issuance of such currencies,” according to the article.
Elsewhere in Japan,
the country’s fifth-largest bank, Mitsubishi UFJ Financial Group (NYSE:MUFG) plans to issue
its own digital currency in Q2 2020, according to a report from Cointelegraph. This was
originally announced by the bank’s CEO Hironori Kamezawa, and will reportedly
be coupled with the launch of a “mobile retail payments powered by the digital
currency in collaboration with its partner, the Recruit Group.”
Sam
Mowers, Investorideas
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investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
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