January 23

“The plugin –-  powered by a combination of [the public VeChain] blockchain and a cloud-based application called “TAM” –-  enables brands to generate non-fungible tokens (NFTs) that are pegged to physical assets. Consumers who purchase a product containing an NFT can scan that item to verify its authenticity. 

Shopify, which has grown to become one of the most popular ecommerce platforms in the world, consists of over 500 thousand active online stores. Shopify is the third-largest online retailer in the US, right behind Amazon and eBay.  

A number of companies are currently beta testing the Shopify plugin. The plugin will officially be released in Q1 of this year.

The RBI has not prohibited VCs (virtual currencies) in the country. The RBI has directed the entities regulated by it to not provide services to those persons or entities dealing in or settling VCs.”

“Hong Kong and Thailand’s central banks have stepped closer to implementing a joint central bank digital currency (CBDC) for cross-border payments.

Following a successful PoC, the banks concluded that the CBDC has the potential to significantly reduce intermediaries and settlement layers in comparison to the traditional banking payments system as well as prevent risks such as double spending.

The project is based on R3’s blockchain platform Corda and implements smart contracts in order to perform atomic Payment-versus-Payment (PvP) settlements for foreign exchange.”

The network itself can automatically exchange the sender’s payment into the asset specified by the receiver.

The present technology permits a first party to pay in any currency, while permitting the second party to be paid in any currency.

Consumers can pay in their preferred asset – using a privacy coin to keep their identities secret, for example – and merchants receive the full value in an asset they want to hold.”

“The enterprise blockchain consortium launched the Hyperledger Climate Action and Accounting Special Interest Group (SIG) during the World Economic Forum (WEF) Annual Meeting. The Climate SIG will enable participants to share ideas and findings on how distributed ledgers can help governments and companies coordinate on reducing global emissions.

DLTs are central to the creation of a global and open climate accounting system that helps integrate all actors and actions under the same planetary goal.

Members will develop the mechanisms required to enable trustless emissions and climate statistics reporting, and will create the protocols and standards suitable for companies and governments around the world.

Most experts at Davos appear to agree blockchain technology should be used for more data collection, not self-sovereign finance. 

While he didn’t suggest it should be banned outright, Jabbarov’s primary concern was collecting know-your-customer (KYC) information associated with bitcoin ownership.

There’s widespread concern about bitcoin wallets that essentially allow “secret bank accounts.”There needs to be unique identities of natural persons in this data.'”

See Also: Chinese Experts Suggest Using Blockchain Tech in ‘Social Credit’ System
See Also: What the Clearview scandal means for your privacy
See Also: Telegram CEO: Apple’s iCloud Is “Now Officially a Surveillance Tool”

Good Watch: Monero’s Fluffypony Weighs in at Davos

“Each “torchbearer” sends a tiny amount of bitcoin to the next. The goal is to highlight the speed and global nature of the lightning network. It’s moving around the world much faster the second time around, already reaching 91 people in three days.”

“The asset manager will continue to donate one-third of the management fees from its Grayscale Ethereum Classic Trust to the ETC Cooperative each quarter through 2021.

Since 2017, Grayscale has donated a total of $1.1 million, including $338,000 in 2019, to the cooperative, which funds development of the protocol.”

“Annotations and in-line comments themselves will be hosted on readers’ devices using GUN. Both firms are working towards further blockchain feature integrations in the near future.

Less dependency on central entities is essential for the internet to mature into a technology that works for the people using it.”

“Sports live-streaming provider SportsCastr is launching its own [ERC-20] cryptocurrency to reward viewers and encourage interactions. SportsCastr says the tokens can be earned at the “thousands of sports bars” on FanWide’s U.S. network and will be redeemable for cash.

FanWide has promoted over 1.5 million watch parties and is the official fan club network of teams in the NFL, LaLiga, Ruby League and others.”

January 22

The central banks of Canada, the United Kingdom, Japan, European Union, Sweden and Switzerland created a group with the Bank for International Settlements (BIS) to jointly research central bank digital currencies (CBDC).

The group will assess CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies.

The research group will be co-chaired by head of the BIS Innovation Hub and Deputy Governor of the Bank of England.”

See Also: 2020: The Year of DeFi (Video)

“The parting appears to be amicable, with Vodafone leaving specifically to focus on its own related service and not due to the regulatory concerns that apparently spooked other former members.

Vodafone will dedicate resources previously intended for Libra to its well-established and successful digital payment service M-Pesa, which the company plans to expand beyond the six African nations currently served.

Libra intends to admit new members to the Association in 2020, a person familiar with the situation said. The waitlist is currently north of 1,500 companies.”

See Also: Switzerland Softens Tone on Libra After Ex-President Says Project ‘Failed’
See Also: 3 More Execs Leave Swiss Stock Exchange’s $100M Blockchain Project

“Iceland-based Monerium, which has a European Economic Area (EEA) e-money license, has entered into a non-exclusive partnership with Algorand. The deal will see the two companies collaborate on developing ‘real-world use cases that are enabled by advanced blockchain technology‘ using Monerium’s “programmable” e-money.

Monerium allows clients to develop blockchain-based financial services, such as cross-border settlements, using any fiat currency of choice such as the euro, pound sterling or U.S. dollar. The firm holds clients’ deposits of fiat currency and releases them in digital form for use on a blockchain.

The e-money license granted by the Icelandic Financial Supervisory Authority in June 2019, allows the firm to operate across the EEA, which includes EU countries.

“Square Crypto, the payment company’s bitcoin-focused wing, is building a “Lightning Development Kit” for wallet and app developers to more easily build on the layer-2 solution.

The new kit includes an API, language tools, demo apps and other features to help developers integrate support for Lightning payments into their own wallets.”

“The regulator sees two distinct types of digital wallets:

Some, but not all, digital wallets hold stored value on behalf of customers and are pre-paid facilities. Others (such as Apple Pay) hold customers’ credit/debit card details and only facilitate payments from that nominated account.

APRA states that it would oversee digital currency wallets that are widely used for payments and value storage, such as Libra’s corresponding Calibra wallet, while excluding wallets that are mostly used to pass payments through, such as Apple Pay.”

“Grayscale filed a Form 10 to the SEC in November, opening the trust up to investors currently restricted from participating in non-regulated vehicles.

The trust’s shares are now registered under the Exchange Act of 1934, making the Grayscale Bitcoin Trust the first cryptocurrency investment vehicle to become a reporting company. The trust now has to publicly file its quarterly and annual reports as 10-Qs and 10-Ks with the SEC and publish updates on unscheduled material events and corporate changes.”

The platform will enable institutional investors to use crypto services such as liquidity pools, a regulated fiat channel and over-the-counter (OTC) trading via its smart order routing system and trading algorithm. Huobi plans to roll out custodian services, and interest rate and alpha products in the second quarter of this year.

One of the core value propositions of Huobi Brokerage is that it provides clients with best-price execution on large block orders.”

A sly change to its whitepaper means Binance no longer reveals how much profit it makes each quarter.

The whitepaper now says, ‘Every quarter, we will destroy BNB based on the trading volume on our crypto-to-crypto platform until we destroy 50% of all the BNB.’ Whether they are burning 20% or 80%, the short answer is: We don’t know.”

Youtube has purged more crypto videos, just weeks after admitting that an algorithmic error caused it to ban many videos and channels.”

“It’s the first successful live deployment on the Ethereum mainnet of something called a “scalable Harberger tax contract,” and it might just help save at-risk animals. The project unites user incentives related to patronage, collectibles, and profit.

Wildcards is a platform that represents endangered animals as non-fungible tokens.’ Organizations doing relief work for the recent Australian wildfires might list tokenized koalas for sale, for example.

Animal tokens on Wildcards are always for sale. As you buy, you have to immediately set a selling price for someone to buy that token from you. But you pay a percentage of that designated selling price, called a harberger tax, in order to prevent you from setting that price to $5 million.

“It is developing two devices, named Turpial and Harpia, that would allow anyone to connect to the Bitcoin blockchain using long-range radio waves. Their application is not limited to BTC — any other blockchain like Monero could be integrated, or even messaging and file transfer systems like IPFS.

We are making something for the situations where you don’t have Internet at all, either due to lack of infrastructure, targeted censorship or in case you want to be completed anonymous.”

“The project will enable the local government and other stakeholders to manage the reserve fund for social aid on the blockchain. The city aims to launch a prototype within six months and go live within a year. Konya hopes to be a global model for local governments.

The cryptocurrency we are currently developing will be used in social aid programs, municipal corporations’ activities, public transport, and environmental services. This blockchain-based local ecosystem will serve the Konya citizens. The project will also see the development of a payment system to enable crypto in many municipal services.”

“The Canadian government has awarded enterprise blockchain startup Mavennet a procurement contract for the development of an on-chain steel-tracking platform.

The goal, as set out by ISED, is for Mavennet to build a blockchain proof-of-concept prototype that can track and share real-time data across the supply chain in the Canadian steel industry.”

January 20

“South Korea is considering re-classifying returns made on cryptocurrencies as a type of “other income,” placing it in the same category as money earned from lotteries, rather than as a form of capital gains, as it is currently treated.

The official added that no plans had yet been finalized, suggesting the tax plan could be amended or even thrown out by the ministry.”

Blockchain is more prominent on the WEF agenda than in years past but that’s not to say the technology will have a starring role in the Congress Centre itself. Central bank digital currencies (CBDCs) will [likely] dominate the conversation this year.

Crypto-related events on Monday:

  • The Blockchain Economic Forum kicks off with a keynote from Chris Giancarlo, the former chairman of the U.S. Commodity Futures Trading Commission.
  • ConsenSys chief Joe Lubin is headlining CryptoMountain Rocks, promising ample discussion of decentralized finance (DeFi), stablecoins and what to expect in 2020.

“Project Ragnarok, a measure to return ether to ICO investors from the Digix project’s treasury – which was held independently of the company in a decentralized autonomous organization (DAO), DigixDAO – has passed with over 95 percent support. Digix itself does not plan on closing up shop given the results of the vote, however.

With the passage, a contract will be executed, unstaking and giving back 0.19 ETH per DGD – near par with the current value of DGD.”

Good interview w/inventor of the yield curve signal.

The Tezos Foundation earlier this week released the “Tezos Foundation’s Faucet,” available to everyone with a Tezos wallet. Enter your Tezos wallet address and complete the ReCaptcha puzzle to join a queue, whereupon you’ll receive up to 0.01 XTZ every 12 hours.

Development faucets are nothing new, but it’s rare that they’re used to disburse real funds; usually, they’re reserved for dishing out testnet tokens.”

See Also: Maker COO Interview (video)

“Hoskinson noted that he expects Cardano’s consensus algorithm to be upgraded with a hard fork next month. He said that he has “pretty high certainty” that the Ouroboros Bizantine Fault-Tolerant Consensus Protocol (OBFT) will be implemented in mid-February.”

“Chinese blockchain spending in areas of investment and financing deals has dropped over 40% in 2019.

As part of the study, Xinhua found that early-stage investments like Series A funding rounds accounted for 43.3% in 2019, while the proportion of strategic investment and mergers and acquisitions in the second half of 2019 increased significantly. Additionally, 292 institutions have totally participated in those investments.”

😂😂 I hesitate to continue to cover this blatant con artist.

“When asked why he himself is not one of the trustees, he said: 

Because I’m smart enough not to be. Because then people could force me to actually move coins. You can take things from trustees. If it was mine, people could have seized assets from me.”

January 19

Quote of the Week:

“Spec v0.10.0 is a stable target for multi-client testnets and security reviews. [It also] integrates the new IETF BLS standards. A  post-audit v0.11.0 release will drop near the start of March. After sufficient time at a stable v0.11.x, a final v1.0.0 will be cut for mainnet release.

Over the holidays, Vitalik posted a new proposal on how we might expedite the eth1+eth2 merger and begin reaping the benefits of the new eth2 infrastructure much sooner. This proposal suggests migrating eth1 into a shard of eth2 after the Phase 1 infrastruture (shard data chains) is added but before a full Phase 2 – thus Phase 1.5!

A phase 1.5 has many potential benefits to the ethereum protocol:

  • Eth1 living inside of eth2 allows for native access to the scalable sharded data layer.
  • Eth1 migrating to a shard of eth2 eliminates PoW from the protocol, greatly reducing issuance and halting energy intensive mining on ethereum once and for all.
  • Finally, integrating eth1 into eth2 on an earlier schedule reduces the amount of moving parts – unifying the system, the community, and the development of the core protocol.

Phase 1.5 as it currently stands largely relies upon the success of two independent components – Phase 1 of eth2 and Stateless Ethereum on eth1.”

Highly recommended read!

“If you’ve been following the program you know the concept of economic bandwidth—but have you ever run the numbers? If DAI became a major currency what are the implications for the price of ETH? How much demand will protocols like Synthetix drive to ETH?

Yes the numbers should be taken with a grain of salt—collateral ratios will be different, of course the assumptions can’t be extrapolated as simply as presented here. Don’t let that distract you from the core point of this exercise which is this:
A trustless economy requires trillions in economic bandwidth.

In short: 
Ether is trustless value supplying economic bandwidth for Ethereum’s permissionless money protocols.

Dash Update with Amanda B!

See Also: VeChain Update (video)

“We’re happy to announce that Quantstamp has completed the security audit of the OMG Network’s More Viable Plasma. All of the relevant security issues have been addressed in the plasma contracts.”

See Also: Plasma Group researchers raise $3.5M from Paradigm and IDEO to start new company

…I mean, did anyone actually believe otherwise?? 🙄

“After what he described as a “bonded courier” delivering evidence in the multimillion-dollar legal battle, Wright’s lawyer subsequently confirmed it contained no private key information at all.

The file that he’s received did not include private keys”

The CRC rates assets on a scale of 1 to 5, with 1 denoting cryptocurrencies that do not appear to have the characteristics of a security under U.S. law. Five new assets were rated Thursday: cosmos (ATOM) and livepeer (LPT) have both received a 3.75 score, while dash (DASH) and horizen (ZEN) received 1s and ethereum classic (ETC) received a 2.

As part of its 2020 roadmap, the CRC plans to share details of the actual framework it uses to arrive at its evaluations. The end goal, according to Suarez, is to help crypto startups more easily comply with existing securities law.

The group is not affiliated with the U.S. Securities and Exchange Commission, which to date has only stated that bitcoin and ethereum are not securities.”

January 17

The Prime Minister of the Russian Federation has called on the country to prioritize the development of the digital economy. Mishustin said that the country should implement modern information technologies, including the development of a national digital economy program.

The state should become a digital platform that is created for people.

Major Russian firms, including some in which the state holds a significant stake, are beginning to test and apply blockchain tech to various aspects of their operations.”

“In June when Block.one, the company behind the largest initial coin offering (ICO) in history, announced its Facebook-challenging social network, Voice, it promised the blockchain would run on the EOS mainnet. Plans have changed.

The new application would run on a private deployment of EOSIO software. In fact, it’s non-committal about ever running on EOS.

If Block.one didn’t need to use the EOS mainnet for its apps it would raise serious questions as to why and who else should use it.

EOS has had performance issues that have become acute since last summer.”

The new owner of the Chrysler Building is selling a property worth $135 million to a blockchain real-estate company, taking a fifth of the purchase price in tokenized securities.

It is the largest-ever real estate deal involving digital tokens.

BrickMark’s ethereum-based tokens are hybrid digital securities – tokenized perpetual bonds that will be backed by property in the BrickMark portfolio. Although restricted for the time being to qualified investors, there are plans under evaluation that would allow BrickMark to offer BMT tokens to retail investors through a European-regulated security token offering (STO).

We think digital securities and tokens are able to unlock these tremendous values and also give people, on a worldwide basis, access to properties that have [to now] been privileged.”

“The three are forming the Digital Dollar Foundation, working with Accenture to design and push for a potential U.S. central bank digital currency (CBDC). Accenture will act as the chief architect and technology partner on the project. 

The new not-for-profit organization has a multi-part plan to first create potential designs and proposals; convene economists, lawyers, academics, technologists and others to evaluate these designs; and create a framework for testing the new system, all with the goal of making dollar transactions as seamless as a text message.

An analog reserve currency does not serve modern users. […] As an example, the ability to directly exchange a CBDC for a tokenized security will have profound effects on global capital markets.”

“The newly announced group will oversee the project’s technical roadmap, guide codebase development and try to build a developer community around the Libra project.

The Libra technical steering committee plans to publish a governance framework before the end of March 2020, according to the announcement, that ‘will include the process by which the open source community can propose technical changes to the network and a transparent process for evaluating those proposals.'”

The exchange revealed it would restrict access to residents of Japan at an unspecified later date.

It is possible that Binance encountered similar regulatory difficulties despite not legally residing in the country. Crypto exchange Kraken ceased to provide services to Japanese residents in April 2018.”

See Also: Binance in Talks to Launch Crypto Trading Joint Venture in Japan

“Canada’s top financial watchdog has told crypto exchanges they will be subject to securities law if they act as custodians to users’ digital assets. The CSA said transactions without immediate delivery constitute derivatives sales.

Although it will depend on the specifics of each platform’s structure and operations, it seems likely that regulators will consider many custodial trading platforms to be subject to securities legislation.

Compelling users to custody their own assets could protect them from hacks like Quadriga or Einstein. But there are downsides. It could make trading less accessible to everyday users by forcing everyone to set up their own wallet.”

Gemini has created its own insurance company to protect clients against the potential loss of coins from its offline vaults – with a possibly record-breaking $200 million coverage limit. Gemini managed to acquire coverage for its hot wallets back in 2018.

The captive insurer will provide coverage for customers of Gemini Custody, the crypto cold storage service of Gemini Trust Company. Captives create a more formalized way of providing cover than self-insuring.”

Alt-season Begins?

“According to the New York-based firm, Binance and Huobi, two of the world’s largest crypto exchanges to date, have received 27.6% and 24.7% of total transfers from criminals in 2019. As such, the two major crypto trading platforms are allegedly responsible for acquiring over a half of all illicit Bitcoin in 2019.

OTC brokers are likely to be the main source of illicit Bitcoin transfers.”

“Ethereum Classic’s sudden bullish break appears to be a direct consequence of it being listed on the Binance Futures trading platform. Now, Binance users have the ability to both short and go long on Ethereum Classic with up to 75x leverage.”

See Also: CME Bitcoin Futures See Open Interest Surge as Global Volume Hits $25B

“The goal of TRONZ is to introduce the privacy protocol to Tron smart contracts, allowing developers to introduce private data within them.

A look at the Tron GitHub page shows a variety of repositories directly “forked,” i.e. copied, from Zcash source code. Code for the MPC was also directly taken from Zcash. It appears that all of the changes made by the Tron team were on the readme file.

See Also: Zcash Poised to Finally Have Private Transactions on Mobile With SDK Release

“Liquid says its sale terms specified TON must have launched by Nov. 30, 2019; since that was not the case, the sale had to be cancelled.

100 percent of client funds were returned to participants. No fees or charges.”

“With the Synthetic Content Network, Alethea is attempting to introduce a mechanism for clearly disclosing AI-generated content and only allowing it with the consent of the person being shown.

All videos created with Alethea will be labeled as satirical and will include watermarks to clearly distinguish them from true content. The project’s stated goal is to democratize access to AI, allowing creative expression through the technology in a manner that would not violate the rights of the people involved.”

January 16

The EEA TestNet will operate as a pre-certification sandbox, where forks of ethereum can be standardized according to certain specifications set out previously by the EEA, which will make them interoperable with each other.

There are now hundreds of companies working on enterprise versions of ethereum, plus an entirely new cohort of industry players joining the fold via Hyperledger’s ethereum-based member Besu, making standardization a priority. 

We are providing a place where clients can start to get their feet wet in a testing environment and then, towards the end of the year, will provide the actual ability to certify against those specifications. Then we can actually stamp things as being EEA certified and branded and have that guarantee of interoperability.”

See Also: BSV Exit Scam Soon? (video)

“More than 100 organizations from over 60 governmental and non-governmental entities that already use blockchain participated in the study.

By integrating blockchain into their operations, the UAE government can also drastically reduce paperwork, eliminating 398 million printed documents and 77 million work hours per year.

With reported 80% of public and private sector entities already using blockchain, the UAE has apparently dove headlong into the sector. The UAE, along with both Bahrain and Saudi Arabia, is leading the charge when it comes to positive crypto and blockchain legislation.”

“Working with ethereum project incubator ConsenSys, the Kings said Wednesday it would be live-auctioning team memorabilia using an ethereum-based platform operated by Treum. The platform will be used to verify the provenance of athletic collectibles, with auctions running during and after NBA games. 

This is the jersey, [is it] real, was it game-worn, how do I know? [They] understand that what they are about to get is real.”

Decentraland, the first ever blockchain-based virtual world, is going live to the public.

The launch includes the establishment of the Decentraland DAO, full decentralization of the world’s infrastructure (communications between users and the serving of content), and, most importantly, public access to the very best the Metaverse has to offer.

From now on, no single agent will have the power to modify the rules of the software, curate LAND content, modify the economics of MANA, upgrade the LAND smart contract unilaterally, or prevent others from accessing the world, among other decentralization features.”

“While the news may disappoint those in the investment community keen to see the first ever bitcoin ETF in the U.S., the news is not surprising. 

This is the next step towards our long-term goal of bringing a bitcoin ETF to market, and we plan to refile our application at an appropriate time. We are currently working hard on answering the questions that the SEC raised in its 112-page response to our initial filing.

With the action, Bitwise leaves just one bitcoin ETF proposal before the SEC. The bitcoin and U.S. Treasury bond ETF planned by Wilshire Phoenix is still under review and is expected to be ruled on by the SEC by Feb. 26.”

“The company claims the product is the first sharded Proof-of-Work Layer 1 network to make it to market. The fully functional hybrid blockchain enables the connection of a public chain with a private network. Kadena’s hybrid blockchain supports interoperability using Pact, the firm’s open-source smart contract programing language.

The blockchain can process 750 transactions per second [and has] 10 chains, noting that upgrading to 100 chains is likely.”

January 15

“According to a court filing, a third party has ‘provided the necessary information and key slice to unlock the encrypted file,’ seemingly referencing the “mysterious,” unnamed intermediary with the private keys necessary to unlock the $9.6 billion bitcoin trove. 

In another filing Tuesday night, attorneys for Ira Kleiman wrote that Wright only provided a list of 16,404 addresses but no information about the courier.

Plaintiffs are having their experts review and analyze the list. Plaintiffs expect that they will be ready to depose Craig after this discovery occurs, in early March.”

See Also: Bitcoin SV Prices Soar After Craig Wright Claims Access to a Bitcoin Fortune (good backgrounder)

“DeFi Pulse showed the DeFi market as having roughly $706 million in ETH locked into its applications on Monday. As of this writing, that value has risen to $782 million. It’s very likely that money is moving into DeFi because traders are looking for liquidity in order to play the market.

Compound, which provides an easy way for ETH holders to borrow, saw a surge in usage Tuesday with collateral rising about 10 percent. MakerDAO has also seen a large jump, nearing $50 million, likely because traders are locking up ETH to create DAI they can trade with.

Ether is the primary form of collateral used to do other stuff.The first step in that process is to turn to DeFi applications to provide liquidity, for example, by borrowing against an asset whose value is rising. 

Commerce moved online slowly, then all at once; finance will move on-chain slowly – then all at once.”

See Also: More Than Half of Financial Advisors Want Better Regulation Before Investing in Crypto

“The U.S. Securities and Exchange Commission has published its first warning against initial exchange offerings (IEOs).

According to the notice, the regulator considers IEOs to be similar to initial coin offerings (ICOs), many of which the agency has been investigating as unregistered securities offerings for the past several years.

There is no such thing as an SEC-approved IEO.”

For the first time, investors can trade gold-backed futures contracts on a leading crypto derivatives exchange. By offering more sophisticated trading vehicles for digital assets, FTX hopes to pave the way for eventual options and leverage trading for PAX Gold. 

PAX Gold futures on FTX shows how the market is maturing and that it is ready for more complex financial instruments.”

“Golberg linked a surprising number of those Saudi accounts to the XRP Army, a swarm of over 40,000 Twitter accounts devoted to spreading the gospel of XRP. Twitter said it had traced ‘the source of the [Saudi] coordinated activity to Smaat, a social media marketing and management company based in Saudi Arabia.

‘It’s not to say that there’s somebody in Saudi Arabia that’s behind the XRP army,‘ he said. But then again, Golberg said he has absolutely no idea who’s pulling the strings.

“CFTC Chairman Heath Tarbert has reiterated the regulator’s stance on both Bitcoin and Ether. At the same time, the chairman has apparently for the first time expressed his thoughts about XRP. According to Tarbert, the regulatory status of XRP is still unclear.

[Additionally], according to Tarbert, the CFTC is gradually helping to legitimize the market as well as add liquidity to the digital currency market by providing it with the features of the futures market like price discovery, hedging, risk management and others.”

“The firm’s products reportedly allow for convenient sharing of financial information with thousands of apps and services by allowing users to link various accounts. 

75% of the world’s internet-enabled consumers used a fintech application for moving funds. As such, it has ‘become increasingly important to facilitate consumers’ ability to use fintech applications.’

Plaid’s acquisition transitions Visa from connecting buyers and sellers to connecting consumers with fintech services.”