#CryptoCorner Episode 448: Mastercard (NYSE:$MA) Developing CBDC Testing Platform, Argo Sees 280% Revenue Increase for H1

#CryptoCorner Episode 448: Mastercard (NYSE:$MA) Developing CBDC Testing Platform, Argo Sees 280% Revenue Increase for H1

 

Point Roberts, WA, Delta BC September 9, 2020 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

 

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https://www.investorideas.com/Audio/Podcasts/2020/090920-CryptoMarket.mp3

 

Read this in full at https://www.investorideas.com/news/2020/crypto-corner/09091Mastercard-Argo.asp

 

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Stocks discussed: (NYSE:MA) (LSE:ARB) (LSE:JET)

 

After coming short of securing support above $12,000 at the start of this month, Bitcoin (BTC) has taken a couple of consecutive tumbles before stabilizing around its current trading price of about $10,250, according to data from CoinMarketCap. It has even dipped below $10K a couple of times in the past several days, part of a bearish trend that is widely associated with a stronger US dollar as of late.

 

Reuters reports that Mastercard (NYSE:MA) is developing a platform to facilitate virtual testing for central bank digital currencies (CBDCs). The platform “enables the simulation of issuance, distribution and exchange of central bank digital currencies between banks, financial service providers and consumers,” according to the report. Raj Dhamodharan, executive vice president for digital asset and blockchain products at Mastercard, said in a statement:

 

"This new platform supports central banks as they make decisions now and in the future about the path forward for local and regional economies.”

 

UK-based crypto miner Argo Blockchain (LSE:ARB) has reported a 280 percent increase in H1 revenue this year from 2019, despite Bitcoin’s halving earlier in 2020, according to Cointelegraph. Additionally, the firm reported a 545 percent increase in Bitcoin mined over H1 2019. The company’s CEO Peter Wall told Cointelegraph:

 

“The mining landscape, particularly since the halving in May, is obviously becoming more consolidated. In the post-halving world, it's no surprise that smaller and less efficient miners are struggling to compete due to the reduction in rewards and the increasing competitiveness.”

 

Decrypt reports that online food order and delivery service Just Eat (LSE:JET) is now accepting Bitcoin payments for deliveries in France. The service extends to over 15,000 restaurants in the country and leverages Bitpay as a payment provider. The company claims that it won’t charge any fees for Bitcoin payments, and that customers will need to create a digital wallet for transactions. Gregory Raymond, writer for French publication Capital.fr, told Decrypt:

 

“Just Eat is a major player in the delivery of meals in France; this initiative could help to democratize the use of cryptocurrencies among the general public.”

 

Sam Mowers, Investorideas

 

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

 

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