Category Archive : Financial News

Payment 3.0 Era: HambitPay Upgrades Crypto Payment Interface and Launches Global Partnership Program | Taiwan News

SHENZHEN, CHINA – Media OutReach – 20 October 2021 – Recently, HambitPay, a crypo payment platform from Singapore, announced the launch of its global partnership program.

Unlike coinbase, binance, etc., which initially centered on exchange business and only later derived payment business, HambitPay has been focusing on the research and development of crypto payment technology since its establishment, capitalising Singapore’s geographical advantages as an international financial center, and promoting a new payment ecosystem in Southeast Asia and the world beyond. The global partnership program launched this time is also a leap forward towards this goal.

Blockchain is an emerging industry that aggregates many tracks, and HambitPay choose to go all in on crypto payments for good reasons. A spokesperson of Hambitpay said that HambitPay values the huge market potential that is about to explode for crypto payments. According to the report “Digital Assets Primer: Only the first inning” released by Bank of America, the cryptocurrency and decentralised financial services industry has grown “too large to ignore.” With a market capitalisation of $2 trillion and nearly 220 million users, the crypto sector alone is a spectacular size among digital assets. When we look at the digital asset market as a whole, the global digital asset management market is expected to reach $102.2 billion by 2026, according to a report by Indian market research firm Valuates Reports.

Hambitpay believes that digital payment has roughly gone through three stages of development:

1. Birth stage: With the development of the Internet, the first “online banking” payment initiated by traditional banks is the 1.0 stage of digital asset payment. People first need to have a bank account before they can open the corresponding online banking account. At the…

Read more at www.taiwannews.com.tw

Young traders treat crypto investing like a ‘competition,’ FCA says

Casino chips decorated with bitcoin logos.

Andrey Rudakov | Bloomberg | Getty Images

LONDON — The vast majority of traders under 40 are investing in cryptocurrencies and other “high-risk” assets due to a sense of “competition” with friends and family, according to research published by the U.K. financial services watchdog on Wednesday.

Three quarters of younger investors are driven by competitiveness when placing their money in a cryptocurrency or other high-risk products such as foreign exchange or crowdfunding, a survey from the Financial Conduct Authority found.

Meanwhile, 68% of respondents compared investing in such assets to gambling, the FCA said. The regulator says findings were the result of surveys with 1,000 respondents aged 18-40 who invested in one or more high-risk investment products.

More than half (58%) of respondents said they were incentivized to make a high-risk investment after hearing about it on the news or social media, according to the FCA.

Bitcoin is currently near an all-time high after topping $60,000 last week. The world’s biggest digital currency has been known to be incredibly volatile, dropping from more than $64,000 in April to below $30,000 in July. It’s still more than doubled in price so far this year.

Despite the description of bitcoin from its proponents as a long-term means of accumulating wealth, the FCA found that only 21% of under 40s in the U.K. said they were considering holding their most recent investment for more than a year.

“We are seeing more people chasing high returns. But high returns can mean higher risks,” said Sarah Pritchard, executive director of markets at the FCA.

“We want to give consumers greater confidence to invest and help them to do so safely, understanding the level of risk involved.”

The regulator says it’s enlisted the help of Olympic BMX gold medalist Charlotte Worthington for a campaign warning about the dangers of investing in high-risk assets.

It comes after the FCA warned earlier this year that a…

Read more at www.cnbc.com

Top 3 Coins With The Most Growth Potential | Crypto Daily, Oct. 19, 2021

Start The Day With The Best Daily Overview Of The Crypto Space

On today’s episode of Crypto Daily, Benzinga’s Blockchain Editor Joe Dewitt lists the top three coins with the most growth potential.

  • Market Cap of $160 million already for a game that’s not fully developed yet:
  • Star Atlas (CRYPTO:POLIS) is a play to earn game set to launch one year from now, still it has a huge community with tremendous room for growth.

Layer 2 For Ethereum is Polygon:

Polygon (CRYPTO: MATIC), reducing transaction costs for Ethereum, is already at a market cap of $10 billion.

An Extremely Undervalued Blockchain Data Provider:

Chainlink (CRYPTO: LINK) very often overlooked, is sitting at $26, provides data to blockchains with plenty of potential.

Listen to the full episode here:

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Read more at www.benzinga.com

A nurse made his entire day’s wages trading crypto on his lunch break, so he quit his day job and now makes 7 figures | Currency News | Financial and Business News

Bitcoin.

  • A 31-year-old quit his pediatric nursing job to trade cryptocurrencies, Bloomberg reported.
  • Now, he makes seven figures, owns a vacation home, and has more time to spend with his newborn.
  • He told Insider he’s been “very happy” with his decision.

Josh Dorgan was a pediatric nurse and hospital unit manager until he realized he could be making more money as a crypto trader.

The 31-year-old from Omaha, Nebraska, began trading cryptocurrency in 2017 on his work breaks, he told Bloomberg Businessweek’s Katia Dmitrieva and Jill R Shah for an Oct. 14 story titled, “These Out-of-Work Americans Tell Us Job Market Turmoil Is Anything But Transitory.”

In Facebook messages to Insider, Dorgan said he saw a news report that bitcoin had broken $2,000. He did more research on the digital currency and said “it was a huge opportunity to get involved with crypto as early as possible.”

During the COVID-19 pandemic that erupted in 2020, Dorgan said that working and trading crypto became more difficult.

“It was really hard sitting in my office making a few hundred dollars a day or whatever it was and then taking a trade on my lunch break and making my whole day’s wage in five minutes,” he told Bloomberg.

So, in August 2020, he quit his day job after hiring a financial adviser and making sure he had enough money saved up “in case it didn’t work out,” he told Insider. Now, Dorgan is making seven figures and is “very happy” with his decision, he said, noting that he’s invested in traditional markets as well as bitcoin, litecoin, and ethereum.

“Of course I miss taking care of the kids [at the hospital], but I’m able to help people in other ways by teaching them how the markets work,” he told Insider.

Dorgan now has a vacation home and spends more time with his newborn. Exercise and meditation, which he ignored for years, have also become part of his routine, Bloomberg wrote. According to his Facebook page, he’s also taken up home…

Read more at markets.businessinsider.com

Mariah Carey Bitcoin: Singer Launches New Cryptocurrency Campaign

Mariah Carey is getting into the crypto game, teaming up with cryptocurrency platform, Gemini, on a new campaign aimed at encouraging women to educate themselves about this new asset class.

Carey appears in a new video that seeks to take the intimidation factor out of investing in bitcoin, with the singer and songwriter sharing about her experiences as an investor, while talking up Gemini’s online (and free) “Cryptopedia” resource.

Investors can also use the code “mariah” while on the platform, and a portion of trading fees will be donated to BlackGirlsCode — a non-profit that gives young women of color access to technology, and classes on computer programming.

A rep for Gemini says the partnership began through an “organic connection” between Carey’s team and the platform, with Gemini founders Cameron and Tyler Winklevoss (yes, those Winklevoss twins) wanting to find someone who could reach a broad demographic with her messaging. Carey has also long held an interest in the asset class — the singer’s website previously accepted the privacy-oriented Monero as a form of payment during the holiday season in 2017, as part of a Monero initiative dubbed, “Project Coral Reef.“

Gemini says Carey’s influence in the space and the singer’s commitment to educating and empowering women, made her a great fit for the campaign. “It’s great to see Mariah and other celebrities discover bitcoin as an investment and hedge against inflation, Tyler Winklevoss says, in a press release. “Cryptos like bitcoin and ether were two of the best performing assets of the last decade. Our goal at Gemini is to help educate you on the promise of crypto and make it simple, easy, and safe for you to engage in this new asset class.”

Gemini’s 2021 State of U.S. Crypto Report found that the number of crypto investors is set to double this past year, along with a growing number of what the company calls the “crypto-curious.” Gemini says 53% of the…

Read more at www.rollingstone.com

Top 6 Crypto & Blockchain Projects To Watch In Q4

2021 has been an interesting year for crypto and blockchain. After an impressive 2020 that saw the industry not only survive the pandemic but come out of it with more institutional support than ever before, 2021 was the year to build on this foundation. 

And build it did. 2021 has seen some of the most ambitious projects in the industry that constantly stretch our imaginations of what blockchain can do. As we enter the last quarter of the year, a number of projects in the industry are on track to close out 2021 with a bang. For blockchain and crypto watchers, here are the top 6 crypto and blockchain projects for the last quarter:

PancakeSwap
Within the world of DeFi, few platforms are quite as influential as PancakeSwap. With over $14 billion in funds locked on the platform, it is one of the biggest decentralized exchanges in the world. Besides the massive amounts of money traded daily on PancakeSwap, the platform also offers an NFT market for verified collectibles, liquidity pools, and so on.

PancakeSwap has been serving the DeFi market for around a year after being founded by anonymous developers and has seen massive success in that time. Given the trajectory of blockchain and DeFi, in particular, we will likely see them for a long time to come.

Immunify.Life
In the era of opaque and rigid medical records, Immunify.Life is bringing a new era of digital disease health registry and self-sovereign identification using AI, NFTs, and Cardano blockchain. Immunify.Life is a unique fully functional and decentralized ecosystem combining personal health records and electronic medical records.

Immunify.Life ecosystem comprises Immunify.Life Platform, IMM token, and a simple user-friendly mobile app. It creates a non-custodial, interoperable and decentralized environment where patients have full control of their data at all times. However, patients can choose to provide their private data to professionals, doctors, institutions, investors, and governments…

Read more at www.benzinga.com

How the Rise in Digital Currency is Escalating the Growth Of Cryptocurrency Mining Market

PALM BEACH, Fla., Oct. 19, 2021 /PRNewswire/ — FinancialNewsMedia.com News Commentary – The Cryptocurrency mining market has been growing substantially over the past several years and is projected by numerous sources to continue this accelerating growth for the next several years. One such source, Data Bridge Marketing said that the cryptocurrency mining market is expected to witness market growth at a rate of 11.5% in the forecast period of 2021 to 2028, while an report from Market Study Report projected that the global Cryptocurrency Mining market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 16.1% in the forecast period of 2020 to 2025 and will expected to reach USD 1.61 billion by 2025, from USD 888.2 million in 2019… but a report from Industry Research topped the first two, saying that the global Cryptocurrency Mining market size is projected to reach USD 2.58 billion by 2026, from USD 1.01 billion in 2020, at a CAGR of 16.8% during the forecast period 2021 to 2026. All compasses seem to be pointing in the same direction!  Cryptocurrency mining refers to a method that involves exchanging different forms of cryptocurrency, validating and applying the digital ledger blockchain. The cryptocurrency miner assists in updating the blockchain with the transaction when a cryptocurrency blockchain is done. This process offers security to the network users and ensures integrity. Self-mining, cloud mining services and remote hosting services are some of the types of mining. Active Companies in the markets today include The OLB Group, Inc. (NASDAQ: OLB), Marathon Digital Holdings, Inc. (NASDAQ: MARA), Sphere 3D Corp. (NASDAQ: ANY), Riot Blockchain, Inc. (NASDAQ: RIOT), Hut 8 Mining Corp. (NASDAQ: HUT).

The Data bridge report added: “Cryptocurrency mining is a computationally intensive process, which requires network of several computers for verification of the transaction record, known as the blockchain. The miners…

Read more at www.prnewswire.com

Businesses the World Over Put Their Trust in Cryptocurrencies

NEW YORK, Oct. 19, 2021 /PRNewswire/ — Generally, the acceptance of digital currencies as a payment or as an investment opportunity is becoming more commonplace around the world. For example, according to data published by Blockdata, most major banks have invested in crypto and blockchain-related companies in 2021. According to the New York Times, cryptocurrency grew from a digital curiosity into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks for consumers and financial markets. “Their concerns have only grown as both new and established firms have rushed to find ways to profit from bringing the massive wealth held in cryptocurrency into the traditional financial system through quasi-banking services like interest-bearing accounts and lending,” the Times indicate. ISW Holdings Inc. (OTC: ISWH), Bit Digital, Inc. (NASDAQ: BTBT), HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT), Bitfarms Ltd. (NASDAQ: BITF), SOS Limited (NYSE: SOS) 

Mining is set to become much easier and more profitable for crypto miners who relocate to North America, due to the Chinese government’s aggressive crackdown on the industry. “For the last 18 months, we’ve had a serious growth of mining infrastructure in the U.S.,” said Darin Feinstein, founder of Blockcap and Core Scientific according to CNBC. “We’ve noticed a massive uptick in mining operations looking to relocate to North America, mostly in the U.S.” In addition, Forbes indicated in a report that China’s recent crackdown on cryptocurrency mining is a move that’s expected to help shift the industry’s center of gravity from Asia to North America.”

ISW Holdings Inc. (OTC: ISWH), transitioning to “BlockQuarry,” pending name change, just announced breaking news that, “the first phase of its Southeastern U.S. project to pair 56,000 mining rigs with 200 megawatts (“MW”) of power is now nearing completion, which constitutes the infrastructure build-out to deploy 20 MW of…

Read more at www.prnewswire.com

SupraFin Has Teamed Up with Gemini to Act as Exchange and Custody Provider for SupraFin’s Clients

DOVER, Del., Oct. 19, 2021 /PRNewswire/ — SupraFin provides an intelligent app with institutional-like investment algorithms in the background that assess the relative value of hundreds of cryptocurrencies and recommends the most appropriate as part of a diversified portfolio based on the client’s risk profile preferences.

The app allows any individual interested in cryptocurrencies to invest with as little as $100 but still benefit from a sophisticated investing solution. The SupraFin iOS app, launched in the US in mid-September 2021, is available for download via the Apple App Store

Based in Dover, Delaware, SupraFin was established by professionals with more than 15+ years of experience in cryptocurrencies, risk models, complex investment products, portfolio management, trading, quantitative analysis, and software development.

SupraFin was founded by Liliana Reasor, who spent over 20 years in big finance as an executive at JP Morgan, Morgan Stanley, Bank of America, Deutsche Bank, and Moody’s Analytics. She is a thought leader in cryptocurrencies and Fintech and has participated in more than 30 crypto/blockchain events as a speaker globally. She has an MBA from UCLA Anderson and an MS in Computational Finance from Carnegie Mellon University.

SupraFin has attracted top advisors and investors from the finance industry. Joachim Sonne, the former co-Head of EMEA Technology, Media and Telecoms Investment Banking at JP Morgan, joined two years ago as a Board Advisor and investor at SupraFin. Craig Dewar, a Fintech serial entrepreneur and ex-investment banking professional from JP Morgan, among others, joined this year as Board Advisor and investor at SupraFin. 

SupraFin’s unique proposition: helping individuals invest like professionals. 

There are many risks to consider when it comes to investing in cryptocurrencies. Most people are familiar with market risk; risk derived from losses due to adverse market…

Read more at www.prnewswire.com

Crypto lobby says stablecoins pose no financial risk

The lobby group says regulators should not treat stablecoins as investment products

A US-based cryptocurrency lobby group has called on US regulators not to subject asset-backed stablecoins to new rules, Reuters reported on Monday.

The Chamber of Digital Commerce, a group consisting of Goldman Sachs, Citigroup Inc and Circle among other companies and providers, does not want to see stablecoins face new tougher rules such as those likely to be envisaged by the President’s Working Group on Financial Markets.

The chamber reportedly sent a letter to the president’s regulatory group, which includes the US Treasury and the Federal Reserve, urging that dollar-backed stablecoins are not a risk to the country’s financial system, and subjecting them to new rules would be the wrong regulatory approach to the burgeoning sector.

According to the lobby group, regulators should not treat stablecoins like USD Coin (USDC) as investment products. Instead of having “separate” regulations for the sector, the government should work towards aligning oversight with broader measures applied to other digital payment tools.

While the US regulatory group works towards actualising some of the recommendations made by Treasury Secretary Janet Yellen, the Chamber of Digital Commerce says the sector poses no systemic risks.

The chamber has also urged regulators to work closely with “well-regulated” US-based stablecoin issuers, with a view to promoting the technology. They also advocate for these companies to get access to the Federal Reserve payments infrastructure, according to the letter cited by Reuters.

With the growth in the stablecoin sector increasing over the last two years on the back of global financial strain, various governments have come up with proposals to guard against further proliferation. At the heart of these steps is the need to protect consumers against potential financial harm, mainly from risks associated with speculative trading.

Earlier this month, the G20…

Read more at coinjournal.net

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