“Using the DAI stablecoin, customers can opt in to earn DeFi yield. Customers’ DAI holdings will be deposited with Compound Finance, which Coinbase describes as an “industry leading” DeFi protocol.
We are making DeFi more accessible, enabling eligible customers in more than 70 countries to access the attractive yields of DeFi lending on their DAI with no fees, lockups, or set-up hassle. DeFi has tremendous potential to help increase economic freedom, and we’re excited to be able to provide a trusted and accessible way to participate.
There is, however, one glaring omission: Coinbase’s DeFi yield is not yet available to customers in the United States. In September, Coinbase CEO Brian Armstrong took to Twitter to vent amid an SEC threat to sue the exchange if it launched its yield-earning product called Lend.”
See Also: Coinbase to Integrate Ledger’s Hardware Wallets
“Ledger, which is best known for its hardware wallets, is introducing a crypto debit card called the Crypto Life card. Rogers added that Ledger’s card and its capabilities are also a step toward replacing traditional bank accounts.
Cardholders will be allowed to open a line of credit to get cash to spend on the card, using cryptocurrency as collateral, with rates starting at 0%. Rates will vary by region. Card users will be able to pay cryptocurrency to more than 50 million retailers and online stores.
The card will be available to customers in the U.K., France and Germany in the first quarter of 2022, and for U.S. customers in the second quarter. Crypto Life will initially support BTC, ETH, USDT, EURT, USDC, XRP, BXX, BCH and LTC, the company said. A wait list is now open to obtain a card.”
“Starting today, a limited number of people in the US will be able to send and receive money using Novi on WhatsApp. This follows a U.S.-Guatemala remittance pilot with USDP and the Novi wallet that launched in October.
When you add money to your Novi account, we convert it to USDP (Pax Dollar), a stable digital currency issued by Paxos Trust Company, a regulated financial institution.”
“Most cryptocurrencies traded lower on Thursday after Fitch Ratings labeled China’s Evergrande Group as an official defaulter. Equities also drifted lower as traders appeared to be concerned about the risk of a global slump resulting from China’s credit woes.
As of recent weeks, bitcoin has surfaced more like a risk asset. However, crypto assets did not see the same rebound that U.S. equities had earlier this week.”
See Also: Evergrande Has Finally Defaulted: Here’s What Happens Next (Recommended Read)
See Also: WisdomTree amends Bitcoin ETF application, naming US Bank as custodian
“Ethereum layer 2 Polygon is continuing to expand its list of scaling technologies. On Thursday, Polygon announced a $400 million acquisition of Mir, a project focusing on zero-knowledge proofs. Mir’s system generates recursive zero-knowledge proofs. This will purportedly make Mir one of the fastest and most efficient layer-2 options.
Layer 2s are among the fastest growing blockchain networks per the closely-watched total value locked (TVL) metric. Arbitrum, which uses optimistic rollup scaling technology, recently cracked the top 10 in TVL at $2.23 billion.
In August, Polygon cut a $250 million check to merge with Hermez Network, another Zero-Knowledge scaling solution. The buys aim to make Polygon a multipurpose scaling solution for Ethereum.”
See Also: Solana Validators, Engineers Grapple With Blockchain Slowdown on Public Call
“Celebrities are coming to the metaverse, and they’re bringing their merchandise with them.
Avatar company Genies has inked a deal with UMG that could bring celebrity merch from Rihanna, Migos and more into virtual worlds. The label’s full roster can port their own avatars into “the evolving digital universe” – whether that be in activations in crypto-powered Decentraland metaverse or just on Twitter.
The end goal is for Genies to create its own fully-fledged marketplace where fans can buy and sell non-fungible token (NFT) merchandise that can be worn in various metaverses. The marketplace, which is expected to be launched in the coming months, will be built on Dapper Labs’ Flow blockchain.
UMG’s roster of talent represents some of the world’s most entrepreneurial pioneers, and by equipping these iconic artists with their own Genie avatars, we’re excited to help them realize even more potential in Web 3.
While Genies currently own “99.9%” of celebrity virtual avatar market share, it expects other competitors to enter the market as the metaverse gains a more mainstream audience.”
See Also: Microsoft Leads $27M Funding Round for Palm NFT Studio
See Also: New DAO Buys Ross Ulbricht’s Ethereum NFTs to Help Free Him
See Also: OpenSea walks back on IPO plan following community backlash