Cryptocurrency Exchange Coinbase Launch Digital Dollar USDC 1797

Cryptocurrency exchange and brokerage giant Coinbase has provided a major stamp of approval to one of several recently launched USD-pegged cryptocurrency “stablecoins” seeking to supplant tether (USDT) as the leader in this burgeoning market niche.

The San Francisco-based Coinbase on Tuesday announced that beginning today, customers can buy, sell, send, and receive USD Coin, the cryptocurrency initially launched by fellow cryptocurrency unicorn Circle.

Coinbase customers throughout the world can send and receive the token, which is backed by physical dollars stored in company-controlled bank accounts, while U.S. customers — excluding those in New York — can buy and sell the token on Coinbase.com. USDC is not currently listed on Coinbase Pro — the firm’s order-book cryptocurrency exchange — though the company says it will be added to this platform “in the coming weeks.”

Coinbase also noted that stablecoins like USDC are ideal for business purposes and e-commerce applications, as payments denominated in these tokens can be made at any time of day without the inherent risks of price volatility associated with using bitcoin and other cryptocurrencies as working capital.

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Online Gambling & Bitcoin SV: a partnership fit for purpose 5254

For years, the gambling industry has been told bitcoin is the future but, as yet, there has been little substance to match the hype. CalvinAyre.com aim to bring simplicity and accessibility to world they feel is not being utilized simply through the understandable fear of the unknown.

The top line benefits should catch the eye enough to at least help betting operators read further: no chargebacks (the blockchain is an immutable ledger) and VERY low (less than a cent) transaction fees.

But here’s the bit that you may not know: Bitcoin in its original format (Bitcoin SV) is way more than a payment system, it benefits players, regulators, content providers and operators. The CalvinAyre.com Bitcoin for Gambling resource page offers detail on the what, why and how of bitcoin integration.

BSV also offers ‘provably fair’ gaming. How so? By recording game data on the Bitcoin SV blockchain. By writing slot spins or hand histories to the public ledger, recording the random seed that created them, players can then access these seeds and use the game’s algorithm, either provided on the operators site or a third party providers, to recreate the results for themselves.

But isn’t bitcoin all ‘black market’ and ‘dark web’? In a lot of instances, yes, but not with BSV. How so? Due to BSV’s commitment to follow laws and regulations, which all Bitcoin SV businesses subscribe to. BSV is an immutable ledger so every transaction and piece of data stored is transparent. Private does not mean anonymous.

Electric Capital Launches $110 Million Fund Focused on Cryptonetworks and Blockchain Businesses 5642

Electric Capital today announced the closing of its second fund, a $110 million Seed and Series A fund, focused on cryptonetworks and blockchain enabled businesses. The firm is led by co-founders Avichal Garg and Curtis Spencer. The founders are serial entrepreneurs, prior executives at Facebook and Google, and investors in companies such as Airtable, Boom, Cruise, Figma, Newfront Insurance, Notion, and others. Electric Capital is partnered with world-renowned university endowments and philanthropic foundations for its second fund.

Fund II Continues to Focus on “Programmable Money”
Electric Capital has three areas of focus:

  1. Layer 1 Protocols where the base token is a form of money and a token that may become a non-sovereign, store of value.
  2. Decentralized Finance & Community Owned Networks where tokens align economic incentives. Some of these networks will decentralize existing entities in traditional markets while some will be entirely novel applications that were previously impossible.
  3. Crypto Enabled Businesses and Marketplaces where customers receive novel benefits enabled by cryptography, tokens, and blockchains.

“We support early founders from their first investment and love working closely with them for many years,” said Garg. “We’ve scaled products from zero to one billion users and teams from zero to hundreds of engineers. We help founders on scaling their organization, building products, cultivating communities and developer ecosystems, and more.”

“Today, a handful of big technology companies dominate the technology landscape. Everything has a price: in exchange for efficiency, we gave up platform independence, control, transparency, and our privacy. These are the exact dimensions on which cryptonetworks are better than legacy systems. Cryptonetworks represent a fundamentally new way of writing software,” said Spencer. “With our new fund, we hope to facilitate the building of new platforms based on these principles.”

About Electric Capital
Electric Capital is a venture firm that invests in cryptocurrencies, blockchain based businesses, fintech companies, and marketplaces. We compile code, profile nodes, analyze blockchains and open source projects, help secure cryptonetworks, and write software to help our portfolio companies understand their ecosystems. We publish an annual Developer Report that is the industry standard for understanding the developer ecosystems across cryptonetworks. Electric Capital and its founders have invested in crypto companies such as Anchorage, Bitwise, Celo, Coda, Derivadex, Elrond, Mobilecoin, Oasis, and NEAR.

About Avichal Garg
Avichal is a successful serial entrepreneur with executive experience at Google and Facebook, which acquired his previous company in 2012. At Facebook, he was Director of Product Management for the Local product group. Avichal is an investor in companies and protocols such as Anchorage, Bitwise, Celo, Coda, Dapper Labs/Cryptokittes, dYdX, Lightning Labs, and many technology companies outside of crypto such as Airtable, Boom Supersonic, Color Genomics, Cruise, Figma, Newfront Insurance, Notion, Optimizely, and Threads.

About Curtis Spencer
Before Electric, Curtis was CTO at Cruxlux, a semantic search company acquired by Kosmix/Walmart Labs and CTO at Spool, a mobile infrastructure company acquired by Facebook. At Facebook, he was an engineering lead on News Feed, Events, and Developer Experience during his tenure. He was an early investor in Bitcoin and Ethereum and has invested in various frontier technology companies such as Cruise Automation, Boom Supersonic, and SpaceX.

Bitcoin Association hires Patrick Prinz as Europe & Operations Manager to further advance Bitcoin SV 6297

Bitcoin Association, the Switzerland-based global industry organization that advances Bitcoin Satoshi Vision (BSV), has named Patrick Prinz, CFA as its new Europe & Operations Manager. Working out of the Association’s headquarters in “Crypto Valley” Zug, Switzerland, Prinz will serve two roles – advance the business growth of Bitcoin SV throughout Europe and support the operational needs of the organization globally.

Bitcoin Association supports Bitcoin SV because it is the only blockchain protocol adhering to Bitcoin creator Satoshi Nakamoto’s original design and vision for Bitcoin to become a peer-to-peer electronic cash system and global data ledger for enterprise. The Bitcoin SV ecosystem has rapidly grown to over 428 known Bitcoin SV projects and ventures worldwide. Developers and businesses are discovering the value of the Bitcoin blockchain when it massively scales — a public ledger capable of huge transaction volumes, micropayments, greater data capacity, smart contracts, tokenization, and many advanced applications.

A true believer in this Satoshi Vision for Bitcoin, Prinz has a strong background in financial services and strategy consulting. Most recently, he worked as a senior investment advisor for a global asset management group. Prinz advised on emerging technologies, and discovered the benefits of having a single, massively scalable, public, auditable ledger for storing any type of data and allowing value transfer at a micropayment level – only possible using the Bitcoin SV blockchain.

Previously, Prinz was a consultant at a leading strategy consulting firm – acting as advisor to international banks on how to incorporate complex regulatory requirements and adapt business models to industry paradigm shifts. He began his career in corporate and investment banking, working at Deutsche Bank and Citi. Prinz holds a Master of Science degree in Banking and Finance and a Bachelor of Science degree in International Business Administration.

Speaking on his appointment, Prinz said: “Bitcoin SV is finally fulfilling the potential that initially excited me about Bitcoin many years ago – to achieve efficiencies as the single public data ledger and micropayment system for the world. As I was puzzled by the fact that innovation and development were not happening on BTC, I did my own extensive research and realized that Satoshi Nakamoto’s original design and the Bitcoin white paper always had the answers to achieve a massively scalable global public blockchain. With scaling comes efficiency, and with efficiency come innovation and entrepreneurship – which is all happening on Bitcoin SV with the emergence of completely new business models powered by microtransactions and the immutable public ledger that Bitcoin is. I am thrilled to join Bitcoin Association to work with businesses and entrepreneurs to educate them on the transformative power which Bitcoin SV brings to the world.”

Jimmy Nguyen, Founding President of Bitcoin Association, commented: “With Patrick’s addition, we welcome to our team another high-caliber professional with international business experience. Patrick will play a vital role in operational management as we grow our headquarters in Zug, Switzerland. He will also be a strong business voice for Bitcoin SV across Europe – with his financial services knowledge, effective communication skills, and passionate belief in Bitcoin’s true power.”

Patrick’s hire is the latest step in the global expansion of Bitcoin Association. He joins two other regional business managers – Lise Li (China) and Ella Qiang (Southeast Asia, based in Singapore) – all with considerable experience in both Bitcoin and business. Additional team members come from the United States, United Kingdom, Australia, China, and New Zealand. The staff is further supported by Bitcoin Association Global Ambassadors in Argentina, Australia, Brazil, China, Germany, Israel, Japan, Netherlands, Panama, Russia and CIS region, the Scandinavia region, Slovenia, South Africa, South Korea, Spain, and the United States.

Arca Offers The First SEC-Registered Fund Issuing Digital Securities 15989

Arca, an innovative, digital asset investment firm that blends traditional finance with cutting edge blockchain technology, today announced that the Arca U.S. Treasury Fund (the “Fund”), an SEC-registered closed-end fund, is available for investment. The Fund is the first product registered under the Investment Company Act of 1940 (“’40 Act”) to offer its shares as digital securities, called “ArCoin.” Shareholders can directly transfer ArCoin using blockchain technology, broadening the use cases within the digital ecosystem.

The Arca U.S. Treasury Fund invests 80% of its portfolio assets in interest-bearing, short-duration, U.S. Treasury securities and seeks to combine the regulatory standards applicable to an SEC-registered closed-end fund with the efficiencies of blockchain technology. Each ArCoin is a share in the Arca U.S. Treasury Fund. Accrued interest is paid directly to ArCoin holders each quarter.

ArCoin was created by Arca Labs—Arca’s innovative, digital product development division—as the first product in an upcoming portfolio of complementary ’40 Act financial products being developed for the digital marketplace. Arca Labs creates tomorrow’s digital investment products in SEC-registered structures of today.

“Our announcement today is a ground-breaking and transformative step toward the unification of traditional finance with digital asset investing as this new category of regulated, digital investment products is made available to investors,” said Rayne Steinberg, chief executive officer of Arca. “It is truly exciting to be pioneering new digital investment products through our Arca Labs division that marry best practices used in traditional finance with the many potential benefits of digital and blockchain technology—this is the next stage of development for the digital ecosystem.”

“We have seen a dramatic shift in our world from physical to digital during the last several years and an accelerated move toward digital in the last four months amid the COVID-19 pandemic,” said Jerald David, president of Arca Capital Management LLC, which oversees Arca Labs. “The digital assets ecosystem is a rapidly growing and evolving industry. We are establishing Arca Labs at the forefront of this industry to innovate digital investment products that provide regulatory oversight and transparency, along with daily valuation, that investors look for in their traditional core investment holdings. Furthermore, ArCoin offers enterprises the opportunity to manage their business operations, treasury management and payments with greater efficiency, less cost, faster settlement times and direct tracking of all transactions.”

Built on the Ethereum blockchain, ArCoin is an ERC-1404 token that provides customers digital access to sophisticated protections and transparency. The Fund is registered under the ’40 Act, providing daily net-asset-value (“NAV”) reporting, bankruptcy protections, periodic audited financial statements, and assets held in a statutory trust overseen by an independent board of trustees.

ArCoin offers digital enterprises and investors multiple use cases and widespread integration. Individuals could use ArCoin as an alternative to volatility in other digital assets, while financial institutions and digital asset enterprises could use ArCoin for clearing and settlement, lending, treasury management, and payments in industries where banking has created friction.

Investments in the Arca U.S. Treasury Fund can be made directly via the ArCoin.ArcaLabs.com website beginning today with a minimum purchase of $1,000. Shareholders are required to establish an account with the Fund’s transfer agent and must complete required know-your-customer and anti-money-laundering (“KYC/AML”) documentation, as is recognized as best practice in the digital investing industry, prior to any investment.

Digital assets in business activities 15614

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The introduction of cryptocurrencies encouraged business owners and individuals to preserve their capital in a decentralized currency. Instead of cash, they prefer advanced financial instruments, which are currently the basis of the new economy, as well as conducting business activities in digital rather than in paper form.

Smart contracts as a replacement for paper documents have their own algorithm, and smart contract transactions are guaranteed by a digital asset (DA), which is an information resource derivative of the right to a value and circulating in the distributed ledger in the form of a unique identifier.

In other words, a digital asset ownership confirms the ability to dispose of the right to a digitized object (any values, such as real estate, securities, shares in business, means of transport, facilities, etc.).

Digital asset: essence and components

The concept of a digital asset includes several components:
· economic – determination of properties of a unique identifier;
· legal – representation of the property of a digital asset as a derivative of the right to a value;
· information – data on digital assets recorded on digital media and structured, thus providing capability of storing, transferring, exchanging, etc.;
· value – digital representation of values of a digitized resource.

A blockchain token possessing certain properties can be a digital asset. This can be digital data in the form of a video/audio file or a set of electronic documents, e.g. folders on a PC. Thus, here appears the main difference between cryptocurrency and a DA, which is that the first is not backed by property/property rights. It should also be noted that digital assets circulate in digital environment according to the protocol, which establishes the rules and conditions of this circulation, so that they cannot be copied during transferring.

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There is another difference between a digital asset and cryptocurrency, which is that an asset as a unique identifier is more secured. This is due to the territorial (geographical) reference to the country of digitized resource registration (location, use). The concept of a digital asset and the use of such an instrument can vary significantly in different countries, since there are considerable differences in methods for assessing real assets and their accounting.

The scope of digital assets is quite wide. Thus, they can be used for:
· financial transactions without involving financial intermediaries (exchange websites) and high fees;
· preserving a value of funds, i.e. no one will ever freeze your account, since you need to have a secret key;
· investment;
· confidential transactions;
· purchasing or providing services;
· high-priced purchases (starting with exclusive cars and jewelry to works of art).

Moreover, you can buy or sell a token, with a right of a digital asset, as an intangible asset in the course of business activities of an enterprise. It is necessary to correctly determine the type of a blockchain token as different states developed their own tests and guidelines for testing them. The reason is the risk of investing in the project and the loss of substantial amounts of money if there are no legal grounds for distribution of a token.

Crypto Testing Options

There exist several testing methods that differ in a number of criteria:
· The Howey Test determines transferring or distributing of a token, as securities transaction;
· The MFSA Test determines correspondence between assets based on the DLT technology and virtual tokens, which makes it possible to regulate them under the laws of the European Union.
· The FINMA Token Classification allows classifying tokens as securities subject to their commercial sale. However, cryptocurrencies and payment services are not included in this category and remain under the anti-money laundering rules.
· The digital asset diagnosis is the Digital Asset Test developed by Simcord, which allows determining whether this token can be classified as a digital asset or not. The test is based on the 16-point scale of a blockchain token belonging to the category of digital assets.

As a result, a digital asset has become more popular than cryptocurrencies as it ensures safety of digitized tangible and intangible values. That is the ownership of a digital asset that provides more opportunities for learning new, high-tech format of the economy and business activities.

When Projects Are Real – Why “CryptoUnit Scam” Claims Are Unfounded 15839

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The crypto universe is filled with painful examples of projects that have proven to be scams. The arrival of a new player on the market is immediately met with deluges of accusations and rightful suspicion. The same applied to the CryptoUnit project, which was immediately greeted with the “CryptoUnit scam” branding.

However, after careful analysis, it becomes clear that the claim “CryptoUnit scam” does not hold up, as the project is developed by legitimate specialists with noble purposes and a real value offering. The first reason why “CryptoUnit scam” does not manage to be a true statement is because the project is developed by specialists in the investment industry with more than 20 years of experience. Such expertise and the backing reputation does not allow the founders to be eligible for scams, and such schemes. It is simply unprofitable for both the present and the future to be involved in illicit schemes.

The CryptoUnit program is a financial undertaking that provides anyone a unique opportunity to become co-owners and shareholders of a major fund, which is a financial program operating in every investment market segment. The creator of the Global Program is professional investor Andrei Khovratov, the founder of the immense community of the New Economic Evolution of the World, NEEW. The CryptoUnit Security Tokens (CRU) that will be issued as part of the CryptoUnit program are digital counterparts of securities based on the Security Token Offering model with underlying blockchain technology and smart contracts. The reliance on the STO model for the placement of tokens will ensure complete compliance with international legal norms.

Participation in the program gives participants access to assets that are currently valued at $404 million. The funds raised as part of the CryptoUnit project will be used to expand the existing portfolio with other profitable investment instruments. The combined participation in the CryptoUnit program will allow holders of CRU tokens to partake in the profit sharing of the portfolio’s revenues.

The Global CRU Program currently includes more than 60 financial instruments from various segments of the investment market. Venture capital, precious metals, banking sector, the stock market, cryptocurrencies, equity participation in business, culture, real estate, and precious stones are all part of the investment portfolio. With a total investment of about $51 million, the Global Investment Portfolio has a capitalization of more than $379 million.

Part of the profits from the assets of the Global Investment Portfolio will be directed at the payment of Profi-Bonuses for all investors of the CryptoUnit program. After the issuance and registration of CryptoUnit CRU tokens, token holders will receive dividends in the amount of 8 to 35% of the total profits of the portfolio.