16 June

WhatsApp has premiered fiat electronic payments on its platform, with Brazil becoming the first country to experience a nationwide release. Users that have Visa and Mastercard debit or credit cards from Banco do Brasil, Nubank or Sicredi can now attach instant payments to their messages.

Payments are implemented via Facebook Pay, a payment system developed in 2019 for Facebook-affiliated apps such as Messenger, Instagram and WhatsApp.

Facebook Pay ‘is built on existing financial infrastructure and partnerships‘ and is not related to the Novi (ex. Calibra) wallet that will run on the Libra network.

“Chairman of the CFTC Heath Tarbert calls for principles rather than rules to dictate the government’s handling of digital assets. The argument for principles is that the approach entails less red tape and, ideally, encourages innovation.

It is my view that the United States must lead the world in this technology, and applying overly prescriptive rules could stunt the development of this important market.”

“The Bank of Korea (BOK) said the six-person panel, comprised of legal experts in the financial and IT sectors, as well as one specializing in fintech, would provide guidance and advice to the bank as it develops and tests a central bank digital currency (CBDC).

We established the advisory group to discuss legal issues surrounding a CBDC and figure out which laws need to be revised or enacted for smooth progress in the BOK’s possible issuance of digital currency.”

See Also: China Could Roll Out Its CBDC Without Anyone Realizing

“Over a recent 30-day period, the total open interest for CME bitcoin options increased more than tenfold, from $35 million on May 11 to $373 million on June 10.

CME now represents over 20% of the global bitcoin options market behind Panama-based Deribit.

Growth in CME’s bitcoin options market is a strong signal that regulated institutions are exposing their books to bitcoin.”

See Also: BTC Futures Volume Posts 2020 Low, ETH Open Interest Surges
See Also: Someone Is Buying Shares in Grayscale’s Ether Trust for More Than $2,000

“The survey, which polled 4,852 participants across 17 countries, found that 47% of respondents trust Bitcoin over big banks. Over 45% of respondents preferred Bitcoin over stocks, real estate and gold.

While millennials may be leading the way in Bitcoin adoption, the survey found ‘increased knowledge of, and growing confidence in, Bitcoin among all age and gender groups surveyed.'”

See Also: Turkish Real Estate Firm Antalya Homes Now Supports Bitcoin Payments

“In Outlier Ventures’ Blockchain Developer Report for the second quarter of 2020, the firm notes that development fell by half for top markets Bitcoin Cash (BCH), Eos (EOS), and Tron Tron (TRX).

Eos saw the fastest drop in development, with the project’s mainnet launch precipitating an 86% fall in building taking place. Polkadot and Cosmos (ATOM) were the only projects to exhibit an increase in total development, increasing by 15% and 44% respectively.”

“Nexus Mutual, an alternative insurance provider for a variety of Ethereum-based DeFi protocols, has seen its risk pool double over the past 90 days to more than $4 million.

The way Nexus works is members of the mutual join by purchasing NXM tokens that allow them to participate in the decentralized autonomous organization (DAO). All decisions are voted on by members, who are incentivized to pay genuine claims.

DeFi users want the returns available, but want to avoid the smart-contract risk. More professional users take out Nexus cover to access yield safely.”

See Also: Crypto Lending Platform Compound to Start Distributing Tokens

“The Dash Investment Foundation, which claims to be the first ownerless and memberless investment fund in the world, recently bought its first shipment of physical gold.

The DIF allocates 10% of the Dash block rewards to support the Dash network in the form of loans or investments. While the capital is waiting to be deployed, the rebalancing strategy is supposed to ensure that it keeps growing.

Any money made on our investments can be used to buy Dash off of the open market, which we then burn. Burning Dash reduces the supply, and theoretically should increase the price of the Dash.”

Users ‘can’t transfer cryptocurrency to anyone who is not a Revolut customer,’ the updated terms and conditions read.

Revolut is also ending crypto card payments, one of the few ways its users could use their crypto outside the ecosystem.”