“Mastercard has formed partnerships with digital asset service companies Amber Group, Bitkub and CoinJar in order to allow consumers and businesses across Asia Pacific to obtain crypto-linked Mastercard credit, debit and prepaid cards.
Cardholders can now instantly convert their cryptocurrencies into a traditional fiat currency that can be spent everywhere that Mastercard is accepted.
Some 45% of those surveyed in Asia Pacific said they are likely to consider using cryptocurrency in the next year, and 12% said they used crypto in the last year. Mastercard said in late October it was working with digital asset platform Bakkt to allow merchants and banks in the U.S. to build cryptocurrency into their offerings.”
“Bitcoin rose over 7% during the past 24 hours. The No. 1 cryptocurrency by market capitalization had passed $67,500 on Monday at the time of publication to break its previous all-time high of $66,974.77 on Monday. Ether, the second largest crypto by market cap, also hit a record high of over $4,800.
Upside momentum is improving after a two-week consolidation phase of between $60,000 and $64,000. A confirmed breakout from that consolidation would require at least two consecutive daily closes above $66,900.
Indicators suggest further upside for BTC’s price, initially toward the $86,000 resistance level. Seasonal strength in the fourth quarter could support continued bullish activity over the next two months.”
“ING announced the firm is working on a trial of its decentralized finance, or DeFi, peer-to-peer lending protocol with the Netherlands Authority for the Financial Markets.
ING specifically mentioned lending protocol Aave, which is built on the Ethereum (ETH) blockchain, as one recent innovation in the industry. Through smart contracts, Aave enables borrowers to deposit crypto as collateral and take out a stablecoin loan. The mechanism can be used as a traditional asset loan, i.e., take out debt to pay for everyday expenses while one’s investment continues to compound.”
“Acala announced Monday that they have raised 8.5 million DOT (worth $451.8 million at time of publication) from over 53,000 participants. The protocol is also set to win the first parachain auction on Polkadot.
On Friday, Polkadot developers added the first parachain onto its network. Parachains are custom, project-specific blockchains that can be integrated into the main blockchain. The distinguishing feature of Polkadot is its Cross-Consensus Message Format. In essence, it would enable users to send and receive assets and execute smart contracts between parachains. Currently, however, the technology is still under heavy development.”
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“Users need to link their passports to the transaction, but don’t need a bank account. The machine currently supports 17 foreign currencies.
The machine is likely in preparation for the 2022 Beijing Winter Olympics, when the central bank digital currency (CBDC) is set to be introduced to the rest of the world. Foreigners in China have been able to use the digital yuan since at least May of this year.”