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Crypto Markets News

Revolut Launched Revolut Metal Card With Cashback In Cryptocurrency And Fiat Money

Revolut has launched a contactless metal card with cashback in cryptocurrencies for frequent travelers looking for something “beyond the currency exchange.” The card, called “Revolut Metal,” will have a unique design and three times the weight of a regular card. It will offer its users a cash refund of 1% of each transaction carried out outside Europe and 0.1% of each transaction conducted in Europe, with the possibility of receiving the rebate in any of the 25 fiat currencies supported by Revolut or in the five cryptocurrencies, including Bitcoin (BTC).

Customers will also be able to withdraw three times as much cash from any international ATM as a standard user and will have a personal concierge service at their disposal with which to make reservations, from a table in a restaurant to a concert ticket. People who subscribe to this plan will also benefit from real exchange rate currency exchanges and free unlimited international money transfers, 24-hour priority customer service every day, and travel insurance abroad covering medical, dental, flight and lost luggage expenses.

Revolut launched its Revolut Metal card with cashback in fiat money and cryptocurrencies, including Bitcoin (BTC)

Revolut has assured that it will extend the package of this new Revolut Metal plan with exclusive benefits such as reduced rates to international airport lounges, family accounts, unlimited disposable virtual cards, and additional incentives for the commission-free trading platform that the company plans to launch in the upcoming months.

Nik Storonsky, founder and CEO of the Revolut FinTech, has said that he is convinced that the new Revolut Metal card will be “the exclusive card of the future and an absolute necessity for travelers from all over the world.” He also indicated that the launch of Revolut Metal is “an important step” for the company to generate additional revenue, given its desire to expand its business to North America and Asia this year.

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Crypto Markets News

Turkish Lira Collapse Highlights Bitcoin (BTC) Relative Stability

The current currency crisis in Turkey is being used by the mainstream media to make a comparison between the national currency and the leading cryptocurrency in the market. The latest contribution to this is a demonstration of relatively low volatility Bitcoins (BTC), published by Bloomberg today, on August 13th.

Turkish lira fluctuations compared with those of the Bitcoin (BTC)

Under the heading “Turkey’s collapse is driving the volatility of the lira comparable to Bitcoin,” Bloomberg reveals the full extent of the devaluation of the Turkish currency this year and writes the following:

The 10-day fluctuations of the Turkish lira relative to the US Dollar now exceed those of Bitcoin (BTC) in the midst of the escalating currency crisis in Turkey.

Bloomberg

However, Turkey citizens turned to Bitcoin (BTC) for investment

Turkey has seen an increase in consumer interest in Bitcoin (BTC) since the lira, which has been depreciating against the US Dollar since January, fell to unprecedented lows within a brief time due to various geopolitical factors.

According to data from Google Trends, the Turkey residents’ interest in Bitcoin (BTC) increased significantly in August, while local cryptocurrency exchange platforms experienced a trading volume increase of over 150 percent, this week alone.

The situation of cryptocurrency is not yet evident in Turkey

While legislators carry out capital controls, the status of cryptocurrency in the country remains uncertain, in general. Despite Turkey’s official position that Bitcoin (BTC) is not compatible with Islam, local cryptocurrency exchange platforms have the full support of the Landesbanken, as an article released by Forbes reported earlier this week.

The markets in Turkey have seen rising volatility for some time, while operators such as BtcTurk Bitcoin are currently trading at prices with around $500 more per BTC than on the other leading foreign cryptocurrency exchange platforms.

This trend could continue, some analysts indicated, if the country’s economic situation does not stabilize and the Turkish lira doesn’t surge.

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Crypto Markets News

PAKET Delivery Network Based On Blockchain Plans To Dethrone Industry’s Big Players, Such As DHL And FedEx

The PAKET platform is a delivery network based on blockchain technology and is prepared to dethrone the big players in the parcel delivering industry, including DHL and FedEx, among others. Taking advantage of blockchain technology to create a transparent and accountable delivery process for the international parcel delivery industry, PAKET is close to becoming a fierce competitor for the already-existing conventional names in this sector of activity.

Today’s global package delivery industry is experiencing rapid technological and procedural change as a consequence of the implementation of new technologies and the growth of online retailing, especially.

These changes imply the inflow of new entrants, particularly at the regional level, where the majority of delivery activity is carried out. But the significant roles performed by the majority of the smaller participants in this industry, who form the core of the package delivery environment, have so yet to be adequately acknowledged.

PAKET delivery network based on blockchain technology plans to outperform big players in the industry, including DHL and FedEx

Some huge names like DHL and FedEx quickly pop to mind when we talk about parcel delivery. While these are still the leading international delivery providers, the fast development of online retailing necessitates increased involvement at scales where these significant operators have not been recognized.

The issue with the actual parcel delivery system is that it engages inadequately coordinated centralized bodies that are interconnected by various levels of middlemen. That is a significant loss concerning cost and quality-of-service, allowing for the inadequacies to exist in the present situation of the package delivery industry.

PAKET is an open network, based on blockchain technology, which provides unlimited access to opportunities for all levels of participants in the global delivery industry. Either as a private individual or as a company, everyone can become a member of the unquenchable pool of service suppliers and be paid for the work they perform.

For the end users, this implies a more secure, transparent and trackable parcel delivery network that guarantees an efficient delivery service.

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Crypto Markets News

Goldman Sachs Considers Cryptocurrency Custody Funds

The investment bank Goldman Sachs is considering starting to hold funds in cryptocurrencies as part of a commercial strategy, even though it remains skeptical of the cryptos market.

Goldman Sachs considers providing cryptocurrencies investments

Goldman Sachs is deliberating on the possibility of becoming the first investment bank on Wall Street to grant custody of its clients’ crypto assets, according to related sources. This financial company, which does not have a favorable view regarding Bitcoin (BTC) futures on the short-term, seems to be taking a new direction in its strategy of incursion into the crypto-verse.

Bloomberg’s anonymous sources assured that the execution of the plan would imply the protection of his clients’ crypto coins against “dishonest attacks,” as an alternative to reduce the risks linked to the ecosystem, such as frequent hacking. At the moment, the strategy is not official, as Goldman Sachs spokespersons have not made a statement on it.

If it does occur, the support of cryptos funds by a regulated institution such as Goldman Sachs may symbolize legal support for the disruptive proposal of crypto-economy, making it an object of interest to other individual and institutional investors as well as to listed investment funds.

However, Goldman Sachs’ position on cryptos is not very clear

In the latest report published by the financial firm, Goldman Sachs’ chief investment officer said that Bitcoin (BTC) “craze” is “one of the six factors that will create unrest in the markets during the remainder of 2018”, as “Bitcoin (BTC) will not maintain its value”, in his opinion.

In contrast to the report, which also states that cryptos “do not fulfill any of the three traditional functions of a coin,” they appointed Justin Schmidt as vice president and leader of the Digital Asset Market area last April. The inclusion of Schmidt came along with the evaluation of the opening of a cryptocurrencies trading desk.

Goldman Sachs’ new possible incursion into crypto-economy has been an open door for many months and with different projects. However, these may not yet materialize.

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Crypto Markets News

SBI Holdings Acquired 12% Of Clear Markets In A Move To Develop A Cryptocurrencies Derivatives Platform

The Japanese financial institution SBI Holdings will extend its crypto portfolio with cryptocurrencies derivatives after purchasing a 12% stake in Clear Markets, said SBI’s financial report released on July 31st. SBI intends to acquire up to 20 percent more in the near future.

Clear Markets is a US-based provider and developer of electronic trading platforms offering trading services for OTC derivatives in the US, UK, and Japan.

SBI’s new investment in Clear Markets is one part of its commitment to establish a trading platform for cryptocurrency derivatives addressed to institutional investors. The platform is intended to allow financial institutions to trade cryptos more efficiently.

Clear Markets will facilitate hedging for cryptocurrency swaps that are “necessary for dealing with cryptocurrencies and financial instruments that use cryptocurrencies.” In the review, the SBI group stated that the intensified use of cryptocurrencies and their derivatives would boost liquidity.

Nikkei Asian predicts that the investment will cost SBI Holdings approximately $9 million.

SBI Holding to develop a cryptocurrencies derivatives platform with Clear Markets

Clear Markets intends to implement a cryptocurrency trading service as it already has a US Commodity Futures Trading Commission (CFTC) and SEF (Swap Execution Facility) license and is involved in derivatives brokerage market across the UK and other 32 European countries. The corporation is an affiliate of QUICK Corp. a member of the Japanese Nikkei Inc.

In 2017, SBI Holdings spent money on over 20 crypto-related projects and, on July 17th, it formally released the official version of the VCTRADE cryptocurrency exchange. Now, SBI Holdings plans on releasing a cryptocurrencies derivatives platform with Clear Markets.

Japan is among the world’ s top countries in the introduction of cryptocurrencies and crypto investments. “Up to 50 percent of the cash trade in cryptocurrency” has so far occurred in Japan, said Mark Brickell, CEO of Clear Markets.

During the past week, the Japan Virtual Currency Exchange Association (JVCEA) declared that it would demand that its cryptocurrency exchange affiliates restrict the trading operations of some customers in order to avoid high capital losses for those investors with relatively small financial holdings.

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