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Anonymous sources say that Facebook’s upcoming Globalcoin project is “bigger and more open” than just a payment method. Social media giant Facebook has reportedly held talks with major United States-based crypto exchanges about the issuance of its own crypto, the Financial Times (FT) reports on May 24. Citing two people familiar with Facebook’s “Globalcoin” project, the FT wrote that Facebook has discussed the initiative with major crypto exchange and wallet Coinbase. The article also notes that Facebook reportedly spoke with the Gemini exchange, which was founded by the Winklevoss twins, the well-known rivals of Facebook CEO Mark Zuckerberg. According to the anonymous sources, Facebook has been conducting negotiations with major crypto-related firms in order to ensure that its long-rumored stablecoin is pegged to the value of the United States dollar and is liquid, tradeable and secure. Other firms reportedly included Chicago’s leading high-frequency trading firms Jump and DRW, the r..
Major exchange and cryptocurrency platform Coinbase has added support for Ethereum-based stablecoin Dai in most jurisdictions. Major cryptocurrency platform Coinbase now supports stablecoin Dai (DAI), according to an official press release on May 23. Coinbase says that the token can be purchased and sold, sent and received, and converted or stored in most jurisdictions on its platform, with the exception of New York, for now. DAI is designed to maintain a 1:1 value with the U.S. dollar, but is backed collateral on the MKR platform. Both Ethereum-based token MKR and DAI are issued by MakerDAO. However, DAI has been worth under $1 for much of 2019, which has sparked five voting sessions from DAO users on raising the stability fee for reclaiming collateral, in an effort to keep the token closer to its intended value of $1. Coinbase recently announced that its cryptocurrency payment processor, Coinbase Commerce, will now support the stablecoin USDC. The addition of this stablecoin support..
Major U.S.-based cryptocurrency exchange Coinbase announced that its payment processor Coinbase Commerce now supports Circle’s USD Coin. Major United States-based cryptocurrency exchange Coinbase announced that its cryptocurrency payment processor Coinbase Commerce now supports Circle’s stablecoin USD Coin (USDC) in a blog post on May 20. Per the announcement, Coinbase Commerce users can now accept USDC payments with no transaction fees. The announcement specifies that “unlike accepting credit card payments, merchants can accept USD Coin without geographical limitations or the need for a traditional bank account.” Additionally, Coinbase states that accepting stablecoins allows merchants to benefit from cryptocurrency transactions while avoiding the volatility characteristic of un-pegged digital assets. A recent report by the European Central Bank found that cryptocurrencies do not have significant implications on monetary policy or the broader economy, in part because only a small per..
A while ago, the Stellar Development Foundation in collaboration with Coinbase announced that they would be launching a Stellar airdrop. This is part of a new program by Coinbase that is aimed at educating the masses about cryptocurrencies and rewarding them for their effort. This Coinbase Stellar airdrop was just one out of the many airdrops hosted by the Stellar Development Foundation to promote the XLM token and boost the Stellar Lumens price 2019 and beyond. In another article, we talked about how the Stellar airdrop would impact the Stellar Lumens price prediction 2025. Now, Coinbase has expanded this program and it has attracted a mixed response from members of the cryptocurrency space. Stellar Lumens Price Prediction 2019 – Stellar Lumens Price Prediction 2025 – Stellar Lumens News Today – Coinbase Expands Its Program Recently, Coinbase announced that it has expanded its “Earn” program to over 103 countries within the United Kingdom, United States, Europe, Canada, Australia, et..
Coinbase has opened its Coinbase Earn program to the public in over 100 countries. Major crypto platform Coinbase has opened its Coinbase Earn program to the public in over 100 countries, according to a press release on May 17. As Cointelegraph reported, Coinbase first announced the program at the end of 2018 as an invite-only initiative. This pilot period let users earn cryptocurrency by learning about the ERC-20 token “0x” (ZRX). Coinbase stated that according to a survey they conducted, uninformed users were reluctant to invest in crypto but were eager to learn: “...one of the biggest barriers preventing people from exploring a new digital asset was a lack of knowledge about that asset. Many of the people we surveyed expressed a strong desire to begin learning about new and different crypto assets beyond Bitcoin, but didn’t know where to begin.” As the title implies, Coinbase Earn users can also earn crypto. In return for taking quizzes about Stellar Lumens (XLM), Zcash (ZEC) and B..
Coinbase is reportedly negotiating the acquisition of the bitcoin custody business of cryptocurrency wallet provider Xapo for $50 million in cash. American major cryptocurrency exchange Coinbase is reportedly negotiating the acquisition of the bitcoin (BTC) custody business of cryptocurrency wallet provider Xapo, technology-focused media outlet the Block reported on May 16. Sources familiar with the matter reportedly told the Block that Coinbase has been vying with the digital currency wing of United States financial services giant Fidelity, Fidelity Digital Assets, for Xapo over the past several weeks to advance its custody business. Following the closure of the deal, Coinbase will reportedly pay about $50 million in cash to Xapo, with a contingent earn-out for remaining with the company. Founded in 2014, Xapo is a Hong Kong-based firm that provides a BTC wallet and a cold storage vault, as well as bitcoin-based debit card services. The company is backed by leading industry players s..
Coinbase CEO Brian Armstrong says the exchange’s custody service received the $1 billion in the 12 months after its launch. During an on-stage discussion at Consensus, Brian Armstrong, CEO of major United States cryptocurrency exchange Coinbase, said that its custody service has already received $1 billion in crypto under management. Coindesk reported on Armstrong’s comments on Wednesday, May 15. Panel moderator and Wall Street Journal reporter Paul Vigna asked Armstrong about the perspectives of institutional investments in the crypto industry. In response, the Coinbase CEO provided an example of his own company, noting that Coinbase Custody managed to get $1 billion in assets under management in just 12 months after its launch. He also mentioned that 70 institutions signed up to the service during that period. Moreover, Armstrong believes that investments in the sphere will grow rapidly, as institutions want their funds to be active while in custody. The Coinbase CEO stated that ins..
Social networking giant Facebook has on-boarded two compliance officers who previously worked at U.S. major cryptocurrency exchange Coinbase. Social networking giant Facebook has on-boarded two new compliance experts, who previously worked at United States major cryptocurrency exchange Coinbase. Mikheil Moucharrafie joined Facebook as compliance officer after almost four years of working at Coinbase. At the exchange, Moucharrafie held positions such as support analyst and quality assurance tester, anti-money laundering (AML)/bank secrecy investigator, compliance manager, and risk manager. Jeff Cartwright spent nearly five years at Coinbase as a compliance manager, head of internal audit, and director of regulatory risk and exams. Prior to joining Coinbase, Cartwright was involved in AML consultancy at Big Four firm KPMG and AML compliance investigations at Goldman Sachs. At Facebook, Cartwright will hold the position of a policy and compliance manager. As Cointelegraph reported in Mar..
Major U.S. crypto exchange Coinbase says they plan to help countries with high inflation by adding USDC support in 85 jurisdictions. United States crypto exchange and wallet service Coinbase has expanded USD Coin (USDC) trading to customers in 85 countries, the firm announced in a blog post on May 14. Along with the USDC announcement, Coinbase also announced a major global expansion, adding 50 more jurisdictions to its coverage, including such countries as Brazil, South Africa and Taiwan, among others. Starting from today, Coinbase serves customers in 103 countries in total, the exchange wrote, adding that the move will help accelerate the global adoption of crypto trading. USD Coin is the first stablecoin listed for trading on Coinbase platform: the exchange first listed USDC back in October 2018 for customers in selected jurisdictions in the U.S.. By adding USDC coverage in 85 global jurisdictions, Coinbase aims to “improve the lives of people in countries where inflation is ero..
Coinbase releases trading for New York residents in a move which sparked a 22% XRP price move. United States cryptocurrency exchange Coinbase confirmed it had rolled out XRP trading to New York users in a social media update on May 13. Amid bitcoin’s (BTC) ongoing bull market, XRP topped the day’s best performers on Tuesday following the news, XRP/USD delivering up to 22% gains in the 24 hours to press time. Coinbase Pro had originally rolled out XRP support on its platform in February. The New York addition accompanied news from Europe, with German exchange Boerse Stuttgart revealing it had launched a dedicated exchange-traded note (ETN) for both XRP and litecoin (LTC). “There is a lot of interest in cryptocurrencies,” Jürgen Dietrich, the exchange’s director of blue chips and funds trading, said in an accompanying press release. “These ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin und Ripple through exchange-traded secur..