Formula One Team Haas F1 to Mint Branded NFTs With Opensea

November 4, 2022 Bitcoin.com

Thailand and Hungary Partner to Promote Blockchain Tech in Financial Sector

October 30, 2022 Bitcoin.com

Axelar partners with Polygon to deliver cross-chain communication to Polygon Supernets

October 27, 2022 Coin Telegraph

The partnership seeks to enable Ethereum ecosystem developers to have access to functions and users on Axelar’s dozens of connected chains.

Cross-chain platform Axelar has announced a partnership with Polygon to deliver secure cross-chain communications to Polygon Supernets. The company said that Axelar’s partnership with Polygon will serve as infrastructure for an interoperable internet of dedicated Ethereum Virtual Machine (EVM) blockchains powered by Polygon Edge.

Speaking with Cointelegraph, CEO and co-founder of Axelar Sergey Gorbunov shared that this partnership is important to the Web3 ecosystem because the industry needs to scale from thousands of developers to millions. According to Gorbunov:

“Application-specific chains are critical infrastructure for that step, but they present huge challenges without interoperability. Axelar and Polygon Supernets are enabling developers to build on chains that make it easy to accomplish their goals, with zero barriers to liquidity or user onboarding."

In response to how the partnership between Axelar and Polygon will positively impact the Web3 ecosystem, Gorbunov said that, “Ethereum ecosystem developers will now have access to functions and users on the dozens of connected chains Axelar has integrated. That means developers can compose freely and build dApps that can attract users in the hundreds of millions."

According to Gorbunov, the partnership with Polygon is an opportunity to share the vision of a cross-chain future with a growing community of builders on Polygon Supernets, and support the applications and blockchains that will be built there. He added that Polygon users would benefit from this partnership because, “they will be able to connect securely to functions, assets, and user networks, anywhere on Web3."

Gorbunov told Cointelegraph that apart from developers, the biggest beneficiaries of this partnership will be new users, “who can onboard into those dApps bringing their existing tokens, wallets, and Web3 identities – without having to bridge or swap via separate interfaces."

In September, Cointelegraph shared that Axelar had entered into a partnership with Mysten Labs — the infrastructure company behind the Sui blockchain — to deliver cross-chain communication for developers through General Message Passing and to advance the prospect of a so-called "super DApp."

Fireblocks launches crypto payment engine with Checkout.com and Worldpay as pilot partners

October 24, 2022 Coin Telegraph

Coin Telegraph

Checkout.com settled $1 billion in stablecoin transactions during its initial pilot phase of Payments Engine.

Following a successful pilot phase, digital asset custody platform Fireblocks has launched its new payment engine for merchants, opening up pathways for businesses to settle and accept cryptocurrency transactions across jurisdictions.

Fireblocks’ new Payments Engine is said to provide “turnkey solutions” for businesses that want to integrate digital assets into their operations, the company announced Monday. The platform allows payment service providers to incorporate new crypto payment rails and accept, settle and process digital asset transactions instantly. The platform also supports cross-border internal settlement, micropayments and merchant adoption with lower processing fees.

Ran Goldi, Fireblocks' vice president of payments, told Cointelegraph that the solution is "token-agnostic," meaning that payment service providers can incorporate whatever type of digital assets they want. "They can use any of the 42 blockchains and 1,300+ tokens that Fireblocks supports," he said. Goldi also clarified that, due to a confluence of factors, including regulatory changes, stablecoins have emerged as the front runner for digital asset payments.

Payments Engine was piloted by payments processor Checkout.com, which settled $1 billion in merchant transactions using the solution. On Monday, Fireblocks announced that FIS, the world’s largest merchant acquirer, would also begin piloting the solution. FIS manages Worldpay, a multi-billion-dollar payment processing company it acquired in 2019.

Fireblocks expanded its infrastructure offerings to include crypto payments when it acquired First Diigtal, a stablecoin settlement platform, in February 2022. As reported by Cointelegraph, the estimated $100 million acquisition allowed Fireblocks to add business-to-business, business-to-consumer and cross-border payment support services.

The acquisition came at a time when more retailers were signaling their intent to adopt crypto payment services shortly. A survey of 2,000 senior retail executives in the United States conducted by Deloitte in December 2021 revealed that 75% of respondents were planning to accept both stablecoin and cryptocurrency payments within 24 months.

Meanwhile, a 2022 study of merchants with an annual income of at least $1 billion revealed that the vast majority of businesses were already pivoting to digital assets. The survey, which was conducted by PYMNTS and Bitpay, found that 85% of merchants were looking to adopt crypto payments to grow their customer base.

On the topic of merchant adoption, Goldi said those using crypto payments generally fall into two camps: crypto natives and traditional merchants. Crypto native merchants "are used to handling crypto on a day-to-day basis and most likely have vendors who are willing to accept crypto as payment," he said. "Traditional merchants are curious and interested in leveraging crypto. They understand the benefits and are now trying to figure out how to incorporate the technology into their legacy systems."

Mastercard taps Paxos to launch crypto trading for banks

October 17, 2022 Coin Telegraph

Banks

Mastercard will deploy its technology to integrate crypto trading into banks’ interfaces, while Paxos is set to provide its trading and custody services.

Mastercard officially announced on Oct. 17 a new program to enable financial institutions to bring crypto trading capabilities and services to their customers.

Called “Crypto Source,” the program is designed to allow users to buy, hold and sell cryptocurrencies, complemented by Mastercard’s proprietary Crypto Secure solution for additional security and compliance.

The tool is launched in cooperation with Mastercard’s existing partner Paxos Trust Company and is reportedly expected to launch in Q4 2022. Paxos is known for providing similar services to global payment giant PayPal, which launched its first crypto services in late 2020.

Within the new partnership, Paxos will provide crypto asset trading and custody services on behalf of the banks, while Mastercard will deploy its technology to integrate crypto trading into banks’ interfaces.

Ajay Bhalla, president of Mastercard’s cyber and intelligence unit, pointed out the company’s growing crypto expertise and commitment to the market. He mentioned Mastercard’s recent crypto-related investments, including acquisitions of the crypto intelligence service CipherTrace in September and the digital identity platform Ekata in April last year.

Announcing the news, Mastercard referred to the 2022 Mastercard New Payments Index, reporting that 29% of respondents globally hold cryptocurrency as an investment. Another 65% of respondents reportedly indicated a preference for crypto services to be provided by their current trusted financial institution.

“What we are announcing today is a connected approach to services that will help bring users safely and securely into the crypto ecosystem,” Bhalla noted.

Paxos’ head of strategy Walter Hessert also highlighted the scale of Mastercard’s global network of financial institutions. According to the executive, the new tool will provide banks and creditors with the “most trusted way to offer safe, reliable crypto assets.”

Mastercard’s latest crypto initiative comes amid the total crypto market capitalization falling about 60% since the beginning of 2022. According to Jorn Lambert, Mastercard’s chief digital officer, it would be “shortsighted to think that a little bit of a crypto winter heralds the end of it.”

“As regulation comes in, there is going to be a higher degree of security available to the crypto platforms, and we’ll see a lot of the current issues getting resolved in the quarters in the years to come,” Lambert reportedly stated.

Mastercard has been actively working on various crypto and blockchain-related initiatives in recent years. In January 2022, Mastercard announced a collaboration with the Coinbase exchange to allow Coinbase NFT users to make purchases using Mastercard’s cards.

In October 2021, Mastercard partnered with the digital asset firm Bakkt to allow its United States-based customers to buy, sell and hold digital assets through custodial wallets.

Global payment giant Mastercard continues its efforts to promote cryptocurrency adoption by developing a new tool allowing banks to trade cryptocurrencies like Bitcoin (BTC).

Microsoft and Meta partnership brings Office 365 apps to the Metaverse

October 12, 2022 Coin Telegraph

Coin Telegraph

A suite of Microsoft products will feature in Meta’s new Virtual Reality headset, with Meta CEO Mark Zuckerberg calling it the “virtual office of the future.”

Meta Platforms has partnered with technology giant Microsoft to bring a range of Microsoft Office 365 products into Meta’s Virtual Reality (VR) platform, aiming to entice companies into working in virtual environments.

During Meta’s Connect 2022 keynote on Oct. 11, Microsoft CEO Satya Nadella said its Teams video calling app would integrate with Meta’s “Quest” and newly unveiled “Quest Pro” VR headset allowing people to gather in a virtual space akin to a boardroom.

Familiar Microsoft productivity applications such as Word, Excel, PowerPoint, Outlook, and SharePoint will also be made available within Meta’s VR. Nadella added future functionality would include the ability to stream a Windows Cloud computer to Meta’s headsets.

*An image of a Microsoft Teams meeting within a VR environment. Source:* *Microsoft*

Microsoft’s enterprise-level mobile device and identity management applications will be compatible with Meta’s Quest and Quest Pro headsets, Nadella said, allowing companies to manage and secure VR headsets in their corporate networks just as they would computers or phones.

Meta is betting its Quest Pro headset, packed with new features, will tempt users into a virtual workday. The company claims the new equipment is more comfortable, has better performance and improved clarity with higher resolution over its existing headset.

The Quest Pro is also said to have “more intuitive” feedback on its hand controllers and what’s called “real-time expression tracking,” in which the user’s virtual avatar mimics the facial expressions, such as smiles and winks, of its real-life counterpart.

In the keynote, Nadella said the pandemic has brought about a “once-in-a-lifetime” chance in formerly office-based work environments, referring to the ongoing remote work policies first implemented due to COVID-19 restrictions.

“We’re bringing the Microsoft Teams’ immersive meeting experience to Meta Quest in order to give people new ways to connect with each other,” Nadella said, adding: “Now, you can connect, share and collaborate as though you are together in person.”

“As in-person work ramps up, we want everyone to have the ability to feel like they’re present,” Meta’s CEO Mark Zuckerberg added.

Microsoft Teams will also be cross-compatible with Meta’s VR space for business meetings called Horizon Workrooms, Zuckerberg said this cross-device experience will be “the foundation of the virtual office of the future.”

Since the company changed its name from Facebook Inc to Meta last year, its focus and resources have heavily shifted into building what Zuckerberg calls an “open” and “interoperable” Metaverse.

It hasn’t come cheap with the company’s research and development arm, Reality Labs, burning through billions of dollars to put forward the hardware and virtual worlds required, spending $5.7 billion alone so far in 2022.

Despite the losses, Zuckerberg was adamant about the “massive opportunity” in a July Q2 earnings call, even acknowledging that such losses could continue for several more years.

1inch wallet users get domain names with Unstoppable Domains partnership

October 4, 2022 Coin Telegraph

Coin Telegraph

The DEX aggregator said the partnership would promote the wider adoption of DeFi and Web3 products and services.

Decentralized exchange aggregator 1inch has partnered with Unstoppable Domains to help users simplify cryptocurrency payments — a move the company says could strengthen the wider adoption of DeFi products and services.

Under the partnership, 1inch wallet users can enter “human-readable domain names” when sending crypto payments using Unstoppable’s naming service. This allows users to use customizable domain names instead of lengthy alphameric crypto wallet addresses. Like all Unstoppable Domains addresses, the wallet address will be minted on the blockchain as a nonfungible token (NFT), with no additional minting or renewal fees.

Sergej Kunz, 1inch Network’s co-founder, said the Unstoppable Domains partnership could promote the wider adoption of Web3 products and tools. “The issues of user experience, security and identity are still holding back Web3 mainstream adoption,” he said, adding that the partnership “opens up opportunities for overcoming these barriers by making Web3 onboarding more fun and attractive.”

NFT domains platform Unstoppable gets $65 million in a funding round.

The platform confirmed it will invest the money in product innovation and growth within Web3. https://t.co/4wvILOF8oW
— Cointelegraph (@Cointelegraph) July 28, 2022

As of July, Unstoppable Domains had registered 2.5 million domains and integrated with over 150 Web3 applications. The 1inch integration adds to a growing list of over 80 wallets and exchanges supported by the NFT naming service.

Unstoppable’s valuation ballooned to $1 billion this year after the company raised $65 million in a Series A funding round. Unstoppable’s growth has occurred in lockstep with the NFT boom, highlighting the popularity of digital identity profiles. Ethereum Naming Services (ENS), an Unstoppable competitor, has also seen a surge in demand with nearly two million domain registrations as of August. By the end of September, that figure had risen above 2.6 million.

Robinhood Web3 wallet enters beta, taps Polygon as first blockchain

September 27, 2022 Coin Telegraph

Coin Telegraph

As a blockchain network of choice, Polygon offers scalability, speed, low network fees and a robust developer ecosystem, according to Robinhood.

Crypto and stock trading platform Robinhood announced the launch of Robinhood Wallet, a self-custody, Web3 wallet, with Polygon (MATIC) as its first supported blockchain.

Robinhood launched the beta version of its Web3 wallet on iOS. It is being made available to the first 10,000 users who joined the waitlist in May 2022. Hosted first over the Polygon blockchain, Robinhood Wallet allows users to trade and swap cryptocurrencies with no network fees.

Sharing his thoughts on the crypto wallet’s launch, Johann Kerbrat, chief technology officer of Robinhood Crypto, Robinhood’s crypto trading platform said:

“Like we did with the stock market, Robinhood Wallet strips away some of the complexities of web3 and DeFi to make crypto more accessible to everyone.”

For Robinhood, Polygon, as a blockchain network of choice, additionally offers scalability, speed, low network fees and a robust developer ecosystem. Robinhood’s symbiotic relationship with Polygon dates back to August 2022, when the platform added support for MATIC withdrawals and deposits on the Polygon proof-of-stake (PoS) chain.

However, Robinhood Wallet’s roadmap includes extending compatibility with other blockchains as well. The beta release will allow users to perform common tasks such as trading, rewards, storage and DApp-based yield farming of cryptocurrencies.

Future iterations of the wallet will include support for the nonfungible token (NFT) marketplace. Robinhood revealed that over 1 million users have signed up for the waitlist.

A report from June 2022 suggested that cryptocurrency derivatives exchange FTX is eyeing the acquisition of Robinhood.

Although the decision about an official takeover is not finalized, Bloomberg’s contact clarified that the discussion was purely internal and that the exchange has not yet approached Robinhood with a buyout proposal.

“We are excited about Robinhood’s business prospects and potential ways we could partner with them. [...] That being said, there are no active M&A conversations with Robinhood,” confirmed FTX CEO Sam Bankman-Fried.

Korean crypto bank partners with Blockdaemon to offer retail staking services

September 22, 2022 Coin Telegraph

Banking

In January, Delio was granted Virtual Asset Service Providers (VASP) approval by the Korean Financial Intelligence Unit.

Crypto-focused finance company Delio has partnered with Blockdaemon to launch retail-focused staking services, giving customers a more seamless way to earn rewards on their digital asset holdings.

Delio’s staking services expand its existing crypto-bank offerings, which include lending, deposits and deposit accounts, the company announced Thursday. The new service offering is powered by blockchain infrastructure provider Blockdaemon, which provides a suite of institutional staking products.

While Delio didn’t specify which crypto assets will be included in the new staking services, Blockdaemon currently supports integration with over 60 blockchains. Delio representative James Jung also clarified that the firm also plans “to offer a variety of crypto asset financial services for users outside of Korea."

Founded in 2017, Blockdaemon achieved unicorn status last year after securing $155 million in a Series B funding round. In the startup world, a unicorn is a company that achieves a valuation of $1 billion or more. At the time, Blockdaemon was valued at just over $1.25 billion.

Meanwhile, Delio appears to be expanding its crypto-finance offerings after receiving a Virtual Asset Service Provider (VASP) license from the Korean Financial Intelligence Unit. Delio claims to be the first crypto company in South Korea to obtain a VASP for lending and deposit services.

Hello, Seoul!

The fifth annual Korea Blockchain Week kicked off on Sunday, with more than 7,000 people attending Asia’s largest blockchain event of 2022.

Cointelegraph has been at the event, and we have all the highlights for you. Bookmark this thread ! #KWB2022 pic.twitter.com/gCuXN2TlRf
— Cointelegraph (@Cointelegraph) August 8, 2022

Despite market turmoil and controversy surrounding the collapse of the Terra ecosystem, Korea remains a large and important player in the global crypto arena. As such, President Yoon Suk-yeol, who took office this past May, has adopted a favorable approach toward digital asset regulation in the country. As reported by Cointelegraph, Korea’s financial watchdog is looking to expedite the review of 13 crypto-focused bills tabled to the country’s National Assembly.

Ukrainian Supermarket Chain to Accept Cryptocurrencies Through Binance Pay

September 16, 2022 Bitcoin.com

Partnership