Hi huys hope you enjoy your daily dose of crypto news.
1st.China sees advantages in being first on new digital currency ‘Battlefield’
"Local media last month reported some of China’s major state-run commercial banks have already started conducting large-scale internal testing of a digital wallet, moving a step closer to the official launch of the home-grown digital currency.
The China Finance article argued that the improved data feedback from a digital currency would help enhance monetary policy transmission, which supports an economic recovery in the post-pandemic era."2
says the site reuters.
"The digital yuan has been in development for six years and is now in testing at banks and corporations in a number of regions."
says Daniel Palmer via cointelegraph.
2nd. Paypal integration bridges fiat-crypto gap for bitFlyer Europe users
BitFlyer, one of the most known Japanese cryptocurrency exchanges has integrated Paypal deposits.
They had already card transferences but those could take between one to three days to use the money on bitFlyer. With Paypal integrated the deposits are now made almost instantly.
'bitFlyer Europe users will now be able to directly deposit euros to their wallet to trade cryptocurrencies, bitFlyer Europe business strategy manager Jacek Bastin told Cointelegraph. He said, “bitFlyer charges no handling or processing costs on top of the fees charged by PayPal.”'
This leads to more people knowing the cryptocurrencies in general also reveal an accessible and more secure way to make cryptocurrency trading.
3rd. Dash is evolving into a decentralized cloud cryptocurrency
'Dash uploaded a video in which they introduce the Dash Platform. According to them “An upcoming application development platform built on top of the Dash payment network. Connect to the network using DAPI and store application data using Drive.”'
"Dash uploaded a video that talks about the new upcoming Dash Plataform. Video:
But anyways this first video mentions four features that Dash Platform affirms that “together will make dash the first peer 2 peer cryptocurrency that functions like a cloud service”
Those four features are a Decentralized API or DAPI for short, a dash drive, a Dash Platform Name Service or DPNS and dash platform protocol DDP.
4th. Ethereum Falls 10% in sell off
The move downwards pushed Ethereum's market cap down to $39.24B, or 11.78% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $135.58B.
"Ethereum had traded in a range of $345.04 to $375.34 in the previous twenty-four hours."
"Over the past seven days, Ethereum has seen a drop in value, as it lost 6.58%. The volume of Ethereum traded in the twenty-four hours to time of writing was $15.87B or 12.82% of the total volume of all cryptocurrencies. It has traded in a range of $345.0353 to $393.9635 in the past 7 days."
Is said on the new by investing
5th. Cryptocurrency exchange Kraken obtains approval to launch a US bank
"Kraken has won approval for the creation of a new US bank, bringing the traditional financial industry and cryptocurrency market closer."
"In an announcement last week, the cryptocurrency exchange said the US state of Wyoming has approved an application to form the first Special Purpose Depository Institution (SPDI), a bank which will "largely" be regulated in the same way as a standard bank, according to the company."
"The SPDI, likely to be named Kraken Financial, will be headquartered in Cheyenne, Wyoming. Managed under state and federal law, the bank "will be the first regulated, US bank to provide comprehensive deposit-taking, custody, and fiduciary services for digital assets," Kraken says."
Is said on the new by zdnet