#CryptoCorner Episode 467: PayPal (NasdaqGS: $PYPL) May be Trying for BitGo Acquisition, Ebang (NasdaqGS: $EBON) Establishing Subsidiary in Australia, NetCents (CSE: $NC.C) Exceeded $27 Million in Transactions in 2020
#CryptoCorner Episode 467: PayPal (NasdaqGS: $PYPL) May be Trying for BitGo Acquisition, Ebang (NasdaqGS: $EBON) Establishing Subsidiary in Australia, NetCents (CSE: $NC.C) Exceeded $27 Million in Transactions in 2020
Point Roberts, WA, Delta BC October 23, 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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Stocks discussed: (NasdaqGS:PYPL) (NasdaqGS:EBON)
(CSE:NC)
Bitcoin (BTC) appears to have sustained the bull run
that it began on Monday, and which was accelerated by news that PayPal (NasdaqGS:PYPL) would be launching a new crypto
service. At press times, Bitcoin is trading for just under $13,000, but has in
fact surpassed that amount a few times throughout the week, according to data
from CoinMarketCap.
On the subject of
PayPal, Bloomberg reports that the payments giant is
considering acquisitions in the crypto space, including custody firm BitGo Inc.
Citing “people familiar with the matter,” the Bloomberg article claims that
“PayPal has been holding talks with BitGo,” “and could reach a deal within
weeks.” The sources indicated, however, that negotiations could not be
guaranteed success at this point, and that if they failed, PayPal would pursue
other companies in the space.
Bitcoin mining
machine producer Ebang International Holdings Inc. (NasdaqGS:EBON) has announced that it has established a wholly-owned subsidiary in
Australia, which it cites as being “part of its growth strategy to build a
digital asset financial service platform which is in the stages of
preparation.” Dong Hu, Ebang’s Chairman and CEO, said:
“We are pleased to announce that the Company has
established its presence in Australia in furtherance of our strategies to
launch comprehensive blockchain-enabled financial business and capture the
growth opportunity along the value chain of the blockchain industry. We are
currently applying for the Australian financial service license in preparation
for our global expansion.”
Crypto payments
firm NetCents Technology Inc. (CSE:NC) has revealed that it exceeded $27 million dollars
in transactions on its NetCents platform in 2020. A considerable amount of this
growth is chalked up to the company’s focus on its global B2B merchant base,
which comprised 70 percent of new approved merchants added to the platform,
boasting an average transaction value of over $25,000. Clayton Moore, Founder
and CEO of NetCents Technology, commented:
"We are really excited about the B2B business as
we are solving major problems in the current business climate for our clients.
Additionally, the Company has made significant strides in accelerating its
European growth with management convening in Germany for a number of high level
meetings that will result in the opening of the first satellite office in
Europe and significant business relationships to kickstart revenues. We have
turned the corner as far as Crypto being a respected product, and now bank executives
are beginning to understand that digital currencies can provide users more
security than the current financial infrastructure."
Sam Mowers, Investorideas
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