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Cryptocurrency removes all the problems of modern banking Because it operates independently and in a decentralized manner without a bank or a central authority, new units can be added only after certain conditions are met.
You can make transactions at any time of the day or night, and there are no limits on purchases and withdrawals. And anyone is free to use cryptocurrency, unlike setting up a bank account, which requires documentation and other paperwork.
EU officials on Thursday secured an agreement on what is likely to be the first major regulatory framework for the cryptocurrency industry, CNBC reports.
The European Commission, EU lawmakers and member states hammered out a deal in Brussels after hours of negotiations. The move came a day after the three main institutions finalized measures aimed at stamping out money laundering in crypto.
Stefan Berger, the lawmaker who led negotiations on behalf of the European Parliament, said:
Today, we put order in the Wild West of crypto assets and set clear rules for a harmonized market that will provide legal certainty for crypto asset issuers, guarantee equal rights for service providers and ensure high standards for consumers and investors.
DTTcoins will be exhibiting at DIFC Fintech Week taking place June 28-29 and the Ritz Carlton DIFC.
At its booth, No. B24, DTTcoins will be showcasing its White Label solutions for companies interested in launching their brokerage exchange with a globally regulated and trusted broker.
For more information on DTTcoins White Label solutions, please click here.
According to a survey conducted by MasterCard in March and April this year, 51% of Latin American consumers have conducted at least one transaction with crypto assets, and over 33% of them have used stablecoins for everyday purchases.
The survey further revealed that 54% of Latino consumers are optimistic about the performance of digital assets as an investment. Meanwhile, two-thirds of Latinos want a hybrid payment option that includes both crypto and traditional payment methods for their day-to-day operations.
Walter Pimenta, executive vice president, Products and Engineering, Mastercard Latin America and the Caribbean, said:
More and more Latin Americans are showing interest in cryptocurrencies and want solutions that facilitate access to the crypto world. At Mastercard, we are designing these solutions to expand digital inclusion and strengthening alliances that guarantee operability and support
Tether is releasing a crypto token tied to the value of the British pound as part of a push into new stablecoins, Bloomberg reports.
The GBPT token will be available to trade early July.
Paolo Ardoino, chief technology officer at Tether, said:
The UK’s ambition of becoming a crypto hub makes it an attractive destination. Tether is ready and willing to work with UK regulators to make this goal a reality and looks forward to the continued adoption of Tether stablecoins.
Tether offers tokens pegged to the US dollar, euro, Chinese yuan and Mexican peso.
Accodring to a Deloitte survey, polled with 2,000 executives across different retail organizations in the US, 75% said they plan to accept crypto or stablecoin payments within the next two years, The Daily Hodl reports.
More than 50% of the responding large retailers (with revenues of $500 million and up) have already invested more than $1 million in the service of enabling digital asset payments.
In a statement, Deloitte said:
Our survey confirms the direction and strength of the trajectory toward broad adoption of digital currency payment solutions across US retail organizations. Respondents understand the value and benefits of such capability and have taken steps toward enablement.
You can read the full report here.
Visa has launched its first crypto cards in Brazil and Argentina, cryptonews.com reports. In a statement, the company explained that the move “includes recently launched cryptocurrency card programs and partnerships” with fintech providers crypto exchange startups in the region.
Romina Seltzer, the Senior Vice President of Products and Innovation of Visa Latin America and the Caribbean, said:
The cryptocurrency ecosystem continues to gain momentum in this region with increased investment, more consumer adoption, and more crypto-enabled usage cases. We will continue to build on our strategy to develop the future of crypto and payments for our customers, clients, partners, and consumers.
The report added that Visa is looking to develop card issuance projects in other Latin American nations, including Mexico, Colombia, and Peru.
According to a survey conducted by Bank of America (BAC) with1,000 people, 90% of respondents are preparing to buy cryptocurrencies within the next six months.
The survey confirms that the faith in cryptocurrencies has not faded, despite the negative sentiment and market trends.
In an interview with CNBC, Jason Kupferberg, an analyst for Bank of America, said:
The results show a positive sentiment towards cryptocurrencies on the part of investors.
Watch the full interview.
Al Jalila Foundation, a nonprofit healthcare organisation in the United Arab Emirates, today announced that it has been granted approval to receive charitable donations in cryptocurrencies, making it the first healthcare charity in the UAE to accept donations in digital money.
Dr Abdulkareem Sultan Al Olama, CEO of Al Jalila Foundation, said:
As a philanthropic organisation we rely on charitable donations and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programmes. Therefore, as an emerging source of fundraising, providing the opportunity to the growing number of crypto users around the world to donate to Al Jalila Foundation to causes that interest them is a win-win for us as a foundation and the donor community. We are proud to be the first healthcare charity in the UAE to accept donations in cryptocurrencies bridging the gap between physical and digital currency.
In an interview with Al Roeya newspaper, DAMAC properties COO, Ali Sajwani, revealed that the property giant has completed cryptocurrency deals worth $50 million since the beginning of the year.
Sajwani commented that by accepting either bitcoin or ethereum as payment, DAMAC has shown the extent to which his company will go in order for it to benefit from the most advanced technology solutions.
“The payment process is made through a trusted financial intermediary approved by the Abu Dhabi Global Market, where the customer pays the value of the property in bitcoin or ethereum, as they are among the most traded digital currencies in terms of safety and trust, and then the financial intermediary transfers the amount to our digital wallet in dirhams or dollars.”
PayPal, the global payment company is working on bringing all possible blockchain and cryptocurrency integration to its services, Cointelegraph reports.
In his statement, Richard Nash, vice president of PayPal, said:
“Just walking slowly in the crypto shield with buys or holds in certain jurisdictions. [...] Looking to work with others to embrace everything we can, whether it’d be the coins that we have today in PayPal digital wallets, private digital currencies, or CBDCs in the future.”
Cointelegraph highlighted that PayPal is one of the world’s largest payment companies to have moved into crypto and blockchain in recent years. PayPal also announced its own crypto check-out service in March 2021. The fpayment giant is also considering launching its own stablecoin, named PayPal Coin.
Luxury Swiss watch brand TAG Heuer will now accept cryptocurrency as payment on US websites, The Block reports.
The company will accept 12 cryptocurrencies at checkout, including Bitcoin, Dogecoin, Ethereum, Litecoin, Shiba Inu, and 5 USD-pegged stablecoins.
Frédéric Arnault, CEO of TAG Heuer, said:
We have been following cryptocurrency developments very closely ever since Bitcoin first started trading. As an avant-garde watchmaker with an innovative spirit, we knew TAG Heuer would adopt what promises to be a globally integrated technology in the near future despite the fluctuations— one that will deeply transform our industry and beyond.
TAG Heuer will support more than 100 different crypto wallets and exchanges.
Citizens school, which is set to open its doors in September 2022, has announced that it will accept cryptocurrency as a mode of payment, Khaleej Time reports.
The institution will accept payments from the two major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) aiming to provide parents with flexible payment options, apart from traditional forms of payments.
Dr Adil Alzarooni, founder of Citizens School said:
A while ago, cryptocurrency was only a floating term among well-versed investors. However, today cryptocurrency is becoming much more mainstream reshaping the traditional financial system. Similarly, Citizens is disrupting the education sector by re-imagining every element of the learning experience – be it the way our children learn, how we equip our teachers to be mentors, what our learners choose to wear, or the ways that parents can pay for tuition. By introducing this new payment facility, we look forward to enhancing the role of young generations in achieving the UAE’s digital economy. As more people embrace the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow.
Due to recent volatility, DTTcoins has halted all LUNA and USDT conversions until further notice.
We apologize for any inconvenience.
DTTcoins reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
Emirates Chief Operating Officer Adel Ahmed Al-Redha told a media gathering at the Arabian Travel Market that the airline giant plans to employ Bitcoin as a payment service while adding NFT collectibles on the company’s websites for trading, Arab News reports.
Emirates plans to embrace advanced digital solutions such as blockchain, metaverse, and cryptocurrency as part of its strategy to connect with customers in a faster and more flexible way.
NFTs and metaverse are two different applications and approaches; with the metaverse, you will be able to transform your whole processes — whether it is in operation, training, sales on the website, or complete experience — into a metaverse type application, but more importantly making it interactive.