Visa
Bison Trails supports Crypto.com’s payments blockchain with key infrastructure
Crypto.com’s Crypto.org Chain aims to bring cryptocurrency payments mainstream.
Blockchain infrastructure provider Bison Trails has announced another major industry partnership, this time with Crypto.com, a leading digital currency exchange looking to bring familiar transactional use cases to cryptocurrency markets.
Bison Trails is providing key infrastructure to Crypto.org, Crypto.com’s public, open-source payments blockchain. As part of the mainnet launch, Bison Trails will provide reliable validator node infrastructure to optimize validation and governance participation.
In terms of technical specifications, Bison Trails will support the mainnet launch with participate clusters, query & transact clusters and seed nodes, the company explained. As Cointelegraph recently explained, Bison’s participate clusters feature two components to enhance security — validator nodes hosted in a private network and sensory nodes that interface between the validators and public blockchain.
Kris Marszalek, CEO of Crypto.com, described Bison Trails as an “invaluable partner” in the launch of the Crypto.org Chain. He explained:
“This is a pivotal moment in our company that brings us closer to our vision of making crypto assets and transactions accessible to everyone.”
The Crypto.org Chain beta run processed 275 million transactions, the company said. The Crypto.org Chain will initially be supported by Crypto.com Pay, a cashback payment solution.
As Cointelegraph recently reported, Crypto.com has become a principal member of the Visa network in Australia, a move that coincides with the company’s efforts to expand its crypto credit card services. The company was the first to launch a crypto-backed Visa card in 2018. Cryptocurrency-backed credit cards have grown in popularity ever since, with the likes of Gemini exchange and BlockFi announcing cashback rewards cards.
Bison Trails has inked several high-profile partnerships recently. The company was acquired in January 2021 by Coinbase in a deal that would allow Bison to continue operating as a standalone product.
South Korean internet giant Naver reportedly joins Bithumb stake race
Naver is reportedly looking to strengthen its position in the crypto industry with a potential equity stake in South Korea’s largest crypto exchange.
Major South Korean internet company Naver has reportedly begun negotiations to acquire a stake in the country’s largest cryptocurrency exchange, Bithumb.
Naver has discussed a potential equity stake acquisition with major Bithumb stakeholder Vidente, local publication the Maeil Business Newspaper reported Monday, citing several unnamed sources.
Naver is the provider of South Korea’s largest search engine and Line messenger, and is reportedly seeking to expand its platform’s presence in the country’s fintech market. The internet giant is reportedly planning to add Bitcoin (BTC) as a payment option on its payment services Naver Pay as well as Line Pay in Japan and the United States.
As reported, there are at least 10 firms seeking a stake in Bithumb including major U.S. investment banks like Morgan Stanley and JPMorgan, payment giant Visa, as well as the world’s largest crypto exchange, Binance. According to a report by The Korea Times, Deutsche Bank is also among potential investors.
Bithumb has been the subject of multiple reports and rumors regarding a potential acquisition deal over the past several years. The South Korean crypto giant has reportedly been negotiating the sale with foreign companies since at least 2019, following alleged difficulties with payments in Bithumb’s previous acquisition deals. Gaming conglomerate Nexon denied reports that it was acquiring a stake in the exchange.
Naver did not immediately respond to Cointelegraph’s request for comment.