1. Home
  2. Partnership

Partnership

Bakkt crypto exchange partners with Google for payments

Millions of retailers currently accept Google Pay as a form of payment, potentially giving Bakkt users the ability to pay in crypto at a variety of stores and online markets.

Users who hold debit cards issued by cryptocurrency exchange Bakkt will be able to convert their crypto balances to make fiat payments using Google Pay.

In an Friday announcement, Bakkt said it had partnered with Google to allow its users to purchase goods and services using Bitcoin (BTC) and other cryptocurrencies through the Google Pay wallet and payment system. In addition, Bakkt plans to build new analytics and geolocation functionality on its platform using Google Cloud tools. The exchange hopes that the features will expand loyalty redemption options “while providing Bakkt partners with valuable consumer behavior patterns.”

“This partnership is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner,” said Bakkt CEO Gavin Michael.

According to Google, “millions” of retailers currently accept Google Pay as a form of payment, potentially giving Bakkt users the ability to pay in crypto at “supermarkets, pharmacies, restaurants, clothing stores, gas stations, beauty shops” and others. The Bakkt partnership follows major crypto exchange Coinbase's June announcement that Apple Pay and Google Pay would offer support for its Coinbase Card. Gemini has allowed its users to purchase crypto with Apple Pay and Google Pay since April.

Related: Bakkt launches payments app as institutions compete for crypto assets

Launched by the Intercontinental Exchange in 2018, Bakkt first offered BTC futures contracts exclusively to accredited investors. In March, the platform released a payments app allowing users to use crypto to make purchases, designed to “amplify consumer spending, reduce payment costs, and bolster merchant loyalty programs.”

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

Traders pile into altcoins after Bitcoin bulls take hold of $50K

LINA, SCRT and PRE each rallied by 20% and Bitcoin’s attempt to flip $50,000 to support could extend the current rally seen across the altcoin market.

Bitcoin is back above $50,000 and bulls are currently attempting to secure a daily close above the oft disputed level. 

The strength seen in BTC has also helped kickstart momentum in the altcoins and at the time of writing, several tokens are seeing gains in excess of 20%.

Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Linear (LINA), Secret (SCRT) and Presearch (PRE).

LINA moves closer to launching full governance features

Linear is a decentralized delta-one asset protocol that is cross-chain compatible between the Ethereum (ETH) network and the Binance Smart Chain (BSC). The network supports the creation, trading and management of liquid synthetic assets.

According to data from Cointelegraph Markets Pro, market conditions for LINA have been favorable for some time.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. LINA price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for LINA climbed into the dark green zone on Sept. 29 and reached a high of 93 around 26 hours before the price began to increase 73% over the next four days.

The spike in momentum comes after the project released additional details about the upcoming launch of the Linear DAO, which will include a new governance model that supports community voting.

SCRT rallies ahead of its Supernova upgrade

SCRT is the native currency of the Secret Network, a blockchain protocol with built-in data privacy for smart contracts and decentralized applications that are permissionless and privacy-preserving.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for SCRT on Sept. 30, prior to the recent price rise.

VORTECS™ Score (green) vs. SCRT price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for SCRT climbed into the green on Sept. 29 and reached a high of 75 on Sept. 30, around twelve hours before its price began to increase by 135% over the next five days.

The surge in price for SCRT comes as the protocol prepares to undergo its Supernova protocol update which will enable integration with the Cosmos Inter-Blockchain Communication (IBC) protocol.

Related: Evolve or die: How smart contracts are shifting the crypto sector’s balance of power

PRE partners with CoinMarketCap

Presearch is a blockchain-based decentralized search protocol that is community-driven, allows users to search privately and rewards users for their activity.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for PRE on Oct. 2, prior to the recent price rise.

VORTECS™ Score (green) vs. PRE price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for PRE climbed into the dark green zone on Oct. 2 and reached a high of 88 around 3 hours before its price began to increase by 50% over the next three days.

The rally seen in the price of PRE comes as the project announced a partnership with CoinMarketCap which will integrate its data feeds directly into the Presearch search engine.

The overall cryptocurrency market cap now stands at $2.17 trillion and Bitcoin’s dominance rate is 43.1%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

Laos to Study Digital Currency With Help From Japanese Fintech, Report Reveals

Laos to Study Digital Currency With Help From Japanese Fintech, Report RevealsThe central bank of Laos intends to explore issuing its own digital currency, according to a media report that provided details on the plan. A study on the matter will commence soon and will be conducted with the support of a fintech startup based in Japan. Central Bank of Laos Joins Race to Develop Digital […]

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

Avalanche (AVAX) just hit a new ATH, but what’s really behind the price surge?

AVAX price soared to a record high as heavy inflows enter the protocol through its cross-chain bridge and institutional investors pledge $230 million in funding for the rapidly expanding Avalanche ecosystem.

On Sept.16 Avalanche (AVAX) price hit a new all-time high at $68.89 and over the last few months the project has risen to challenge the Ethereum (ETH) network’s dominance among smart contract platforms. According to the project's website, the layer-one protocol capable of surpassing 4,500 transactions per second (TPS) with a time to finality of less than 2 seconds.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $32.10 on Sept. 7, the price of AVAX has rallied 111% to establish a new all-time high on Sept. 16 as its 24-hour trading volume spiked 200% to $2.8 billion.

AVAX/USDT 4-hour chart. Source: TradingView

Three reasons for the surging price of AVAX include the recent completion of a $230 investment round by large capital funds, the continued migration of liquidity to the Avalanche network and new integrations and protocol upgrades that help improve the user experience.

Big funds back Avalanche

The jump in momentum seen in AVAX price on Sept. 16 came following the announcement that a handful of large funds including Polychain Capital, Three Arrows Capital and Dragonfly capital took part in a $230 million funding round for the project.

This marks the largest investment into the Avalanche ecosystem to date and indicates that larger institutional players are starting to take a keen interest in the Ethereum competitor.

The Avalanche network is cross-chain compatible with Ethereum meaning any tokens or projects that operate on Ethereum can fully migrate to the Avalanche ecosystem and take advantage of its higher throughput capabilities and lower transaction costs.

With no definitive date on when Eth2.0 will be fully operational or what its final capabilities will be, networks like Avalanche now have an opportunity to make the case for why they are a better choice, which could lead to an increase in their market share.

Liquidity migration and rising TVL

A second reason for the building strength seen in AVAX has been the continual migration of assets from networks like Ethereum to Avalanche to participate in its growing decentralized finance ecosystem.

Evidence of the asset migration can be found in the total value locked (TVL) data provided by Defi Llama, which shows that the TVL on Avalanche has been climbing rapidly since Aug. 19 and reached a new record high of $2.17 billion on Sept. 16.

Total value locked on Avalanche. Source: Defi Llama

The rise in TVL is largely due to the launch and growth of several successful decentralized finance (DeFi) protocols on Avalanche including Benqi (QI), Trader Joe (JOE) and Pangolin (PNG).

Related: Bull flag breakout pushes Avalanche toward $80 as AVAX price hits another record high

Partnerships and crypto-related integrations

A third factor that has helped boost the value of AVAX has been a series of partnership and integration announcements that have excited investors and put the spotlight on the project.

The Avalanche NFT ecosystem has seen an influx of interest thanks to a partnership with the sports card and memorabilia company Topps, which launched its “Inception” NFT digital collectibles series on the network.

There is also a vote underway in the Aave community, one of the top DeFi protocols in the cryptocurrency ecosystem, to see if investors want to see AAVE launch on the Avalanche network. A vote of approval could lead to a further increase in TVL on Avalanche as assets held in AAVE on Ethereum have the potential to be migrated to AAVE on Avalanche.

According to data from Cointelegraph Markets Pro, market conditions for AVAX have been favorable for some time.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. AVAX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for AVAX spiked into the green and reached a high of 86 on Sept. 13, around 24 hours before the price increased 40% over the next two days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

Dapper Labs and Flow Blockchain to Get a Boost From Big Tech as Studio Partners With Google

Dapper Labs and Flow Blockchain to Get a Boost From Big Tech as Studio Partners With GoogleGoogle is joining forces with the blockchain firm Dapper Labs in order to help bolster Web3 development, blockchain gaming, and non-fungible token (NFT) technology. The blockchain company’s CEO Roham Gharegozlou tweeted about the deal on Tuesday noting that the firm was “amped to welcome Google to the Flow blockchain.” Google to Collaborate With Dapper Labs […]

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

BTC Markets taps licensed neobank Volt for integrated banking features

Fintech companies see an opportunity in the negligence and reluctance of traditional banks toward the cryptocurrency ecosystem.

The banking capabilities of fintech have met cryptocurrencies in a new partnership between Australian crypto exchange BTC Markets and the local neobank Volt.

With a license to operate in Australia as an authorized deposit-taking institution since 2019, Volt will provide corporate cash management accounts for BTC Markets users to manage their Australian dollar funds. Those accounts allow real-time payments on the New Payments Platform, Australia’s national infrastructure for fast payments.

“This means near-instant trading opportunities for our crypto clients, as they can rapidly fund AUD into their BTC Markets account,” BTC Markets CEO Caroline Bowler told Cointelegraph, adding that in the future, the partnership would also allow BTC Markets users to open Volt bank accounts without leaving the exchange:

“It gives stability to our clients and builds out a key piece of market infrastructure which is vital to our industry development. [...] It also goes to show that innovation is alive and well within Australian financial services.”

Speaking on the regulatory approach in Australia, Bowler reiterated the need for proportionate regulation that protects the investor without stifling innovation. “I think our partnership with a regulated entity here in Australia goes to show it is possible,” she added.

Related: Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot

Highlighting the displeasure of the crypto users regarding “the games being played by banks,” Volt co-founder Steve Weston explained, “The total of all deposits in Volt accounts are covered by the protection of up to a maximum of A$250,000 (US$185,900) per account holder under the Financial Claims Scheme.”

Despite the increasing adoption of crypto, where 17% of Australians own crypto according to a recent survey, regulators’ warnings on crypto exchanges have lead to a reluctant approach by traditional banks.

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

1inch Network sponsors crypto-themed animated NFT series

The series follows the exploits of a team of creatures attempting to get startup projects off the ground and will feature 1inch as a plot point in the first season.

Decentralized exchange aggregator 1inch has partnered with an animated series which pokes fun at start-ups in a Silicon Valley-like setting.

In a Friday announcement, 1inch said it would be sponsoring the non-fungible token, or NFT, series Take My Muffin in addition to providing its technical expertise for the show and introducing team members to projects in the decentralized finance, or DeFi, space. The series follows the exploits of a team of creatures attempting to get startup projects off the ground — with general wackiness and blockchain-based solutions aplenty — and is scheduled to be released in the first half of 2022.

“A partnership of this kind comes as no surprise,” says 1inch co-founder Anton Bukov. “Take My Muffin was financed by the crypto-community from the very beginning, it’s actually the very first crypto-funded animated series.”

According to 1inch chief communications officer Sergey Maslennikov, Take My Muffin plans to integrate the exchange into the show’s plot starting from the first episode. As a sponsor, the project will also help with merchandise and events for the series.

He added: 

"This partnership should help 1inch reach a broader general audience. Of course, it’s fun — and DeFi segment should try to save this mood instead of turning into another traditional and boring banking-alike industry."

Related: NFTs can be a good pathway to draw women into crypto, says Lavinia Osbourne

Many crypto users have shown interest in NFT animated series in recent months. Despite having a false start in July, 10,420 Stoner Cats NFTs — which granted holders access to the animated series — sold out in under an hour. Fox Broadcasting Company has also teamed up with the creator of Rick and Morty to develop an animated series “curated entirely on the Blockchain.”

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

NFT projects and high yield opportunities back Zilliqa’s strong rebound

A rapidly expanding ecosystem, lucrative staking opportunities and support for NFTs back the strong rebound in ZIL price.

One of the most important factors in the long-term success of a blockchain platform is having an active community of supporters and developers that work to showcase the capabilities of the network by creating new products and interacting with projects on the protocol. 

Zilliqa (ZIL) is one project that saw its price surge throughout August as developers built out its ecosystem and made improvements to the protocol.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.05 on July 20, the price of ZIL proceeded to rally 145% to an swing high at $0.1244 on Aug. 24

ZIL/USDT 4-hour chart. Source: TradingView

Three reasons for the bullish momentum seen in ZIL include a rapidly growing ecosystem that is attracting new participants, the launch of nonfungible token (NFT) projects on the network,and attractive staking and decentralized finance opportunities that remove tokens from the circulating supply.

A rapidly expanding ecosystem

The most recent quarterly report from Zilliqa shows that the project's ecosystem now has more than 180 partners and projects building on the network and this shows that there is significant interest in the capabilities of the protocol.

Zilliqa ecosystem. Source: Zilliqa

As the ecosystem grows, the number of new users as determined by new wallet addresses has continued to increase by an average of 150,000 addresses per month.

NFTs excite the community

A second reason for the uptick in ZIL price is the launch of NFT projects on the network.

The NFT sector dominated headlines all throughout August and transaction volumes on platforms like OpenSea surged to a record $3 billion.

High fees on the Ethereum network also have forced crypto users to migrate to competing networks that offer decentralized finance (DeFi) and NFT trading in a lower-cost environment.

Some of the existing and soon-to-be-launched NFT and gaming protocols on Zilliqa include Unicuties, DeMons, Heroes of Lowhelm and Blox.

Related: Evrynet's $7M raise highlights institutional appetite for DeFi

DeFi and staking features decrease ZIL's circulating supply

Another reason for the rising strength seen in Zilliqa is its growing DeFi ecosystem and attractive staking rewards that offer high yield returns for users.

ZilSwap, the network’s dominant decentralized exchange, has more than $61 million locked in its protocol and it regularly engages the community through governance votes aimed at improving the reward structure, liquidity and volumes.

ZIL token holders can also stake their tokens on the network and earn 12.79% APY and according to Zilliqa, 34.22% of the circulating supply is currently being staked on the network.

According to the most recent quarterly report, 14% of 'tradable' ZIL is locked up in DeFi, leaving 51.2% of the available supply in circulation.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards

Nigeria’s central bank partners with fintech firm Bitt Inc for CBDC rollout

The CBN considered Bitt Inc’s experience in the development of the Eastern Caribbean Central Bank’s DCash, launched in April.

Barbados-based fintech firm Bitt Inc will be working as the technical partner for the Central Bank of Nigeria for its proposed e-naira digital currency.

In a Monday announcement, the Central Bank of Nigeria (CBN) said it had chosen Bitt Inc based on the company’s “technological competence, efficiency, platform security, interoperability and implementation experience.” It also considered the fintech firm’s experience in the development of the Eastern Caribbean Central Bank’s digital currency, DCash, which it launched in April.

The partnership announcement comes the same day the CBN issued preliminary guidelines for its central bank digital currency, or CBDC, called the e-naira. The initiative from Nigeria’s central bank, called Project Giant, will be pegged to the value of the country’s fiat currency, the naira. The CBN reportedly plans to pilot the CBDC starting in October, though the central bank in nearby Ghana is also considering a digital currency rollout soon.

Related: Nigeria’s SEC says central bank’s crypto ban disrupted the market

In February, the Central Bank of Nigeria prohibited commercial banks from providing account services to crypto exchanges. However, reports indicate that interest in cryptocurrency and trading volume in the country is still rising despite the crackdown.

Guild of Guardians Is a Stunning Multiplayer RPG Where You Play to Earn Epic NFT Rewards