Cryptocurrencies in Q3 2021
• July, August and September of 2021
• Tech news headlines at a glance
• Quick reference for a time-poor audience
• One-click access to each full tech news article
• Online and drawn from daily tech news
July 2021 | August 2021 | September 2021
Crypto news headlines: September 2021
- Bitcoin in El Salvador: “Transactions in Bitcoin will be exempt from capital gains tax, and foreigners investing three Bitcoins in the country…will be granted residency.”
- Twitter may be adding Bitcoin as a payment option for its Tip Jar service
- e-news, latest issue: Twitter and crypto, VC in Japan, Shariah crowdfunding, YCom 2021 Demo Day…
- Download: Bloomberg Crypto Outlook, September 2021 Edition (pdf)
- Nigerian central bank partners Barbados fintech Bitt to develop eNaira digital currency using Bitt’s Digital Currency Mgmt System already used in 6 countries
- Banque de France and Swiss National Bank to ‘explore cross-border settlement with 2 wholesale CBDC and a French digital financial instrument on a DLT platform’
- e-news, latest issue: India’s digital loans, Project Dunbar cross-border CBDC trial, Korean app legislation, NFTs in the art world…
- A quick-reference list of jurisdictions where a retail central bank digital currency is being explored, as at August 31st 2021
- Bhutan’s central bank to pilot a central bank digital currency in partnership with Ripple
- Video: Arianna Simpson, general partner for Andreessen Horowitz’s $2.2BN crypto fund, talks with The Philippines’ Rappler about cryptocurrencies, NFTs, blockchain gaming and more
- Crypto and developing countries: “…Emerging markets are fertile ground for cryptocurrencies, often because their own [fiat currencies] are failing to do their job…”
- UK Post Office to give users ability to purchase cryptocurrency through its EasyID ID-verification service, using crypto vouchers from Swarm Market exchange
- Asia’s tech e-news, latest issue: SoftBank in Aichi, Korea’s cryptocurrency woes, online payments in Thailand, Philippines’ emerging women leaders…
- “The rise of bitcoin and other cryptocurrencies has enabled ransomware to become one of the most profitable business models in the cyber criminal’s arsenal…”
- “NFTs will also play a foundational role in the metaverse, giving people complete ownership of their characters, accrued in-game items and even virtual land…”
- A brief overview of the cryptocurrency projects at Wall Street’s 10 top banks, from Goldman Sachs to JPMorgan
- Wall Street and crypto: “JPMorgan analysts estimated that, by late last year, high-frequency traders were responsible for almost 80% of the bitcoin prices sent to exchanges…”
- Crypto and developing countries: “…Emerging markets are fertile ground for cryptocurrencies, often because their own [fiat currencies] are failing to do their job…”
- China’s Bitmain bitcoin mining giant inks deal with data center and power partners Bit5ive and ISW Holdings to house 56000 AntMiner units in US state of Georgia
- A brief overview of the cryptocurrency projects at Wall Street’s 10 top banks, from Goldman Sachs to JPMorgan
- Twitter adding new features including connecting third-party tipping services linking Bitcoin addresses, NFT authentication and content creator funding
- Cambodia’s central bank digital currency: “…more than 1.4 million Bakong transactions were recorded in the first half of 2021 alone, with a total value of around $500 million.”
- A brief intro to the 15 bank and fintech finalists selected for the Monetary Authority of Singapore’s Global CBDC Challenge
- China: Sanya, tourist destination in Hainan province, to hand out 28K e-CNY red envelopes worth $1.55M through lottery
- Podcast: ‘The Digital Art Craze – Everyone Is Jumping In’ from CoinDesk, looking at NFTs
- Download: Bloomberg Crypto Outlook, September 2021 Edition (pdf)
- NFTs and intellectual property: So, what rights do you actually get when you buy a non-fungible token?
- South Korea: Cryptocurrency traders brace for losses of more than $2.6BN as 2/3 of country’s crypto exchanges set to be wiped out in a regulatory overhaul
- Mastercard in the UK launches sweepstake for cardholders to win company’s first Non-Fungible Token, in partnership with football coach Mourinho
- India: Unocoin crypto startup adds app feature allowing users to top-up FASTag highway toll payment accounts using cryptocurrencies
- People’s Bank of China announces that virtual currencies “are not legal and should not and cannot be used as currency in the market”
- India: Report projects the country’s cryptocurrency tech industry will reach $241M in value by 2030, potentially creating over 800K employment opportunities
- The problem with decentralized finance: “…they don’t actually hold the customer’s money, unlike a broker…But it also allows a wave of innovation by people trying to launder money…”
- Japan: SBI Holdings reportedly to launch new fund for investors, potentially reaching several hundred million dollars and providing diversification with bitcoin, ether and more
Cryptocurrencies in August 2021
- ICYMI: PayPal hints it may start integrating decentralized finance and cryptocurrencies with its app and platform, aiming for ‘super app’ of consumer services
- ICYMI: “The number of crypto ATMs installed globally has increased by more than 70% to 24,030 this year…”
- Download: Cryptocurrencies – A Guide to Getting Started, from the World Economic Forum (pdf)
- Download: Bloomberg Crypto Outlook, August 2021 edition (pdf)
- Download: Cryptocurrency Adoption Rates, from Finder, a survey of 42K individuals across 27 countries (pdf)
- Download: H1 2021 in Review, from Coinbase Institutional, looking at network and financial growth metrics for Bitcoin and Ethereum, exchange volumes and more (pdf)
- “The writing is on the wall: Cryptocurrencies are likely going to play a significant role in the future financial system.” Via the Harvard Business Review
- Walmart, the largest US retailer by total sales, looking to hire a digital currency and cryptocurrency product lead, having previously tested blockchain solutions
- Download: 2021 Global Crypto User Index, from Binance, looking at cryptocurrency users, attitudes and motivations (pdf)
- Facebook cryptocurrency project lead says Novi digital wallet is ready to launch on the Diem blockchain-based payment system
- PayPal takes major crypto step in UK, allowing users to buy, hold, and sell 4 cryptocurrencies – Bitcoin, Ethereum, Litecoin and Bitcoin Cash – directly from the app
- PayPal-owned Venmo launches feature allowing users to automatically buy cryptocurrency using cash back earned from Venmo credit card purchases
- Australia: CoinJar, country’s longest-running cryptocurrency exchange, unveils Crypto Mastercard allowing users to buy, sell and spend digital assets
- Download: 2021 Global Crypto User Index, from Binance, looking at cryptocurrency users, attitudes and motivations (pdf)
- What Gen Z can tell us about the future of banking: “…Crypto wins over junior saving accounts…is one of the few attractive risks.”
- Philippine Digital Asset Exchange raises $12.5M, building on success of BondPH which allowed gov’t to sell retail Treasury bonds via a blockchain-enabled platform
- Singapore’s Zipmex cryptocurrency-to-fiat trading platform inks strategic partnership with Visa, aiming to boost payment programs and products across the Asia-Pacific region
- e-news, latest issue: Cross-border QRs, FinTech festivals, crypto-to-fiat in Singapore…
- Thailand: SEC proposes new digital asset rules covering management of fiat money, digital asset lending, and interest rates for platforms that hold customer cryptocurrency
- “JPMorgan Chase began pitching an in-house bitcoin fund to its Private Bank clients for the first time this week…”
- Download: Cryptocurrency and China – Analyzing China’s Historic Cryptocurrency Activity Amidst Government Crackdowns, from Chainalysis (pdf)
- Circle Internet Financial, principal developer of USD Coin – the 2nd largest stablecoin by circulation – aims to become full-reserve national commercial bank in the US
- Indonesia: Just 2 months after Series A, Pintu crypto assets platform raises $35M Series A+, offering trades on 16 cryptocurrencies with plans to add more, including NFTs
- Facebook considering building products and features related to nonfungible tokens, with new Novi digital wallet potentially used to hold NFTs
- e-news, latest issue: Crypto in Singapore, BNPL in Australia, Korean and LatAm startups…
- Download: KPMG Pulse of Fintech, H1 2021, looking at payments, insurtech, regtech, wealthtech, blockchain/crypto, and cybersecurity
- Singapore: Matrixport raises over $100M with cryptocurrency-focused financial services from custody to trading, and products for institutional and retail customers
- “Investment scams in Australia cost investors more than Au$70M in the first 6 months of 2021, with crypto scams contributing to more than 50% of the losses…”
- China: Alipay, country’s second-most popular payments app, moves to limit speculation with NFTs, adding mandatory 180-day no-trade period after purchase
- Download: NFT Industrial Development Report Q1 2021, from Cabin VC (pdf)
- Australia’s Independent Reserve cryptocurrency exchanges gains in principle approval from Monetary Authority of Singapore to operate digital payment token services
- Singapore: CYBAVO digital asset custody provider raises $4M Pre-A funding for blockchain-based services, building on 500 Startups accelerator selection
- China: “Despite the trials, lotteries, and promotional campaigns by government and banks for China’s digital currency, few people see a reason to jump on board.”
- “The writing is on the wall: Cryptocurrencies are likely going to play a significant role in the future financial system.” Via the Harvard Business Review
- India: Reserve Bank governor says central bank digital currency trials may be ready to run by the end of the year
- South Korea’s central bank selects Ground X, Kakao’s blockchain subsidiary, as partner in 10-month central bank digital currency simulation project
- South Korea: Samsung to participate in Bank of Korea pilot project to build a platform for a central bank digital currency
- Bank of Thailand to start testing a retail central bank digital currency in Q2 2022 as an alternative payment option for the public
- Singapore’s Zipmex cryptocurrency-to-fiat trading platform inks strategic partnership with Visa, aiming to boost payment programs and products across the Asia-Pacific region
- Download: Cryptocurrency Adoption Rates, from Finder, a survey of 42K individuals across 27 countries (pdf)
- Central banks vs the data regulators: Who is on the hook when CBDCs get hacked?
Crypto news headlines: July 2021
- “…El Salvador will become the first country…to adopt bitcoin as legal tender…also opens a new frontier for bitcoiners looking to test their economic and social theories.”
- BlockFi cryptocurrency company launches ‘crypto rewards’ credit card, in partnership with Visa, in the US, with users earning back 1.5% in bitcoin on purchases made
- Russia’s central bank names 12 banks to be involved in initial testing of future central bank digital currency, the ‘digital ruble’, aiming for 2022 launch
- Download: Designing a Central Bank Digital Currency with Support for Cash-Like Privacy (pdf)
- The Central Bank Digital Currency Tracker, from the Atlantic Council – “81 countries (representing over 90% of global GDP) are now exploring a CBDC…”
- Visa has revealed that over a billion dollars was spent using its cryptocurrency-linked cards during the first half of 2021
- Another look at the the rise of the play-to-earn economy in NFT gaming in SE Asia, focusing on Digital Entertainment Asset startup
- Amazon scouting for Digital Currency and Blockchain Product Lead, progressing with plans to bring its payments systems into the crypto age
- Mastercard unveils new Start Path cohort, focused on fast-growing digital asset, blockchain and cryptocurrency companies
- Square payments giant to build a bitcoin hardware wallet and service “to make bitcoin custody more mainstream”
- US State Department Rewards for Justice program is adding cryptocurrency to its payout options, in a first for a federal agency
- “Local currencies like the Brixton Pound and Bristol Pound failed to save the British High Street. But can they succeed as stablecoins?”
- Mastercard and Circle partner to use USDC for crypto-to-fiat conversions in pilot program, aiming to boost ability of customers to spend crypto assets
- Twitter CEO confirms bitcoin will be ‘big part’ of company’s future, looking at integrations around commerce, subscriptions, Twitter Tip Jar and more
- Square payments giant to launch new Bitcoin-focused business, an open source platform for decentralized and permissionless financial services
- China: Central bank claims ‘digital yuan’ reached $5BN transaction value by end of June, across 70.5M transactions, 21M personal wallets and 3.5M enterprise wallets
- China: Ping An subsidiary in Shenzhen launches COVID-19 insurance plan for medical staff in which users who pay premiums in ‘digitial yuan’ receive discounts
- Monetary Authority of Singapore and Banque de France complete wholesale cross-border payment and settlement experiment using central bank digital currency
- e-news, latest edition: China’s digital yuan, Japan’s NFT trends, used smartphones in India, blockchained bank bonds in Australia and more
- Australia: Koinly tax startup partnered by Binance Australia to give users taxation office-compliant reporting solutions
- BlockFi cryptocurrency company launches ‘crypto rewards’ credit card, in partnership with Visa, in the US, with users earning back 1.5% in bitcoin on purchases made
- Hong Kong: Another look at Amber Group, 4-year old startup that has hit $1BN valuation with a focus on cryptocurrency lending
- India: CoinDCX crypto assets exchange becomes official title Sponsor of cricket’s T20I Series between India and Sri Lanka, the first time a crypto firm lands top sponsor billing
- Japan: Gov’t increases diplomatic efforts to regulate digital currencies globally, seeking involvement in global dialogue around stricter rules on private digital currencies
- A brief look at NFTs through the lens of regulation: “…ownership in the digital world is not the same as ownership in the physical world…”
- NFTs – an explainer: “In physical artworks, there [is] tangible property and intellectual property…in digital artworks…just one kind of property: intellectual property.”
- XUMCoin launches as The Philippines’ first cryptocurrency
- Vietnam: Prime Minister directs central bank to research and run pilot project for national cryptocurrency
- Australia: Visa approves Australia’s CryptoSpend startup to begin issuing debit cards allowing the startup’s users to make direct purchases using cryptocurrency
- Worldcoin and eyeball scans: “Digital privacy experts have raised significant alarms over the use of such an authentication method—and the uses of biometric identification in general.”
- e-news, latest issue: Logistics tech in Malaysia, Amazon and digital currency, Sri Lankan blockchain…
- China’s digital currency moves: “… Bloomberg estimates the e-CNY could capture about 9% of China’s market by 2025.”
- “…new way to collect music or part of an expanding metaverse, NFTs are the near future…that’s the hope for some industry insiders who believe “non-fungible tokens” are going to save music.”
- Thai financial regulators hit Binance cryptocurrency exchange with criminal complaint around digital asset trading, adding to issues in UK, Germany, Japan and the US
- ICYMI: Twitter gets into NFTs, issuing 140 to users of the platform, possibly as a test in advance of commercially-focused NFT offerings
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