The Swiss arm of one of Russia’s largest banks yesterday announced that it would offer crypto custodian and Bitcoin exchange services to the businesses and institutions it counts as customers. The Swiss subsidiary of Gazprombank, Russia’s third-largest bank, has received authorization from the Swiss Financial Market Supervisory Authority (FINMA) to offer “the safe custody of…
Louis Vuitton Acquires a Massive 549-Carat Rough Diamond From Botswana
Louis Vuitton has another monster-size rough diamond on its hands. Earlier this year, the Parisian luxury house announced it had acquired the second largest diamond on the planet, known as the Sewelô, that weighed in at 1,758 carats. The maison followed up today with news that it has acquired a 549-carat rough diamond, named the…
Australia Taps Ethereum for Digital Dollar (AUD) Project
The Reserve Bank of Australia, the country’s central bank, is exploring the use of a central bank digital currency, a digital form of fiat currency issued by the state. The central bank is partnering with Commonwealth Bank, National Australia Bank, and Perpetual and ConsenSys Software on the project. Central bank digital currencies have been dominating…
Square Reports $1.63 Billion In Bitcoin Sales Or The Third Quarter Via Its Cash App
Square sold $1.63 billion in bitcoin during the third quarter of 2020, according to a newly released earnings statement. The latest quarterly sales make up nearly 90% of all sales in prior quarters, highlighting the growth in the business. Backing out the cost to acquire the bitcoin, Square made $32 million in gross profit on…
Ethereum Breaks Multiple Records As ETH 2.0 Launch On 1st December Approaches
Ether (ETH) has hit multiple records amid news that Ethereum 2.0 could launch as early as Dec. 1, according to crypto analytics firm Glassnode. Today’s launch of the deposit contract introduced the ability for users to deposit 32 Ether required to participate in staking. ETH 2.0’s beacon chain genesis will take place on Dec. 1…
JPMorgan Sets Up Dedicated Crypto Unit, Launches JPM Coin
After JPMorgan analysts praised bitcoin, saying that the price of the cryptocurrency could triple, JPMorgan reveals that it has set up a dedicated crypto unit and its own cryptocurrency is now being used commercially by a large tech company for the first time.Global investment bank and financial services company JPMorgan Chase has set up a…
DBS Plans For A New Crypto Currency Exchange
A DIGITAL currency exchange backed by Singapore‘s largest lender DBS is in the works, although the bank is still in the process of seeking regulatory approval. Industry observers say that if approved, the DBS Digital Exchange could be one of the world’s first crypto exchanges backed by a traditional bank. A version of the exchange’s…
Iran Turns To Bitcoin To Fund Imports
Crippled by sanctions imposed by the US government, Iran has turned to cryptocurrency to fund imports. The Islamic republic has become the first country in the world to adopt bitcoin at a state level for value exchange, Trustnodes reports, citing a story issued by the official IRNA news agency. The Iranian cabinet has changed legislation…
Bitcoin Moves Closer To Mass Adoption With PayPal Addition
Bitcoin has rallied $1,000 in the last 24 hours after payments platform PayPal (PYPL) announced that it would begin accepting payments in digital currency. PayPal has over 26 million merchant accounts and 345 million users on its platform that will soon be able to buy, hold, and sell Bitcoin. The announcement also stated that Ethereum,…
Siberian Gold Deposit Has World’s Largest Reserves
Polyus PJSC, Russia’s largest gold producer, said its untapped Sukhoi Log deposit in Siberia holds the world’s biggest reserves. An audit showed Sukhoi Log has 40 million ounces of proven reserves as measured by international JORC standards, with an average gold content of 2.3 grams per ton, Chief Executive Officer Pavel Grachev said. That means…
Carbon Trading, Now On Blockchain
Cryptocurrency meets carbon trading. That’s the pitch from Nori, a new Seattle-based startup, that just raised $4 million in funding from cryptocurrency focused investors including Placeholder, North Island Ventures, Tenacious Ventures, and a big, privately held agriculture multinational that the company declined to disclose. Founded by Paul Gambill, a former Deloitte Technology employee who left…
How bitcoin met the real world in Africa
Four months ago, Abolaji Odunjo made a fundamental change to his business selling mobile phones in a bustling street market in Lagos: He started paying his suppliers in bitcoin. Odunjo sources handsets and accessories from China and the United Arab Emirates. His Chinese suppliers asked to be paid in the cryptocurrency, he said, for speed…
