Citigroup is considering launching cryptocurrency service and other cryptocurrency and virtual currency newswire [Blockchain Foreign News Briefing]

Citigroup is considering launching cryptocurrency service in consideration of customer interest, and other cryptocurrency and virtual currency newswire [Blockchain Foreign News Briefing]

May 11 Coincode Blockchain Foreign News Briefing

▲ Citigroup is considering launching a cryptocurrency service in consideration of customer interest

Citigroup, the third largest bank in the US by asset size, said it was considering launching a cryptocurrency service, Reuters reported on the 7th (local time). Reportedly, itay Turkman, Citibank’s global foreign exchange manager, said, “The bank has not yet decided whether to provide cryptocurrency-related services to customers, but transactions, custodial (storage and trust), and financing are all being reviewed.” Said. In an interview with the Financial Times, Turkman also told the Financial Times, “Citi is seeing a’very fast’ increase in interest in bitcoin across a broad customer base, including large asset managers. We are not making a hasty decision.”

(May 7 (Reuters)-Citigroup Inc is weighing the option of providing cryptocurreny-related services after a surge in interest from clients, the Financial Times reported on Friday.)

▲ Iranian central bank bans trading of bitcoins mined outside the country

Decrypt reported on the 7th (local time), citing reports from Iran International, that the Iranian Central Bank (CBI) has banned cryptocurrency transactions, including bitcoin mined outside the country. At first glance, it appears to be a formal action, as Iran has already effectively banned public trading of cryptocurrencies, according to reports. It makes bitcoin mining a relatively inexpensive and profitable place in Iran, where energy is plentiful by oil and natural gas reserves. Since Iran legalized cryptocurrency mining in 2019, it has been looking for ways to favorably regulate its own industry. Attorney Fatemah Fannizadeh tweeted, “I don’t think it will be implemented on a personal level. The exchange platform does not work by default. On the other hand, instead of a full ban, banks and foreign companies are allowing Iranian cryptocurrencies to be used for international remittances.” Fannizadeh said, “It means Iran wants to more actively export and encourage mining of coins produced in its own country, and to respond to capital flight in the face of the decline in the value of the rial.” Meanwhile, the rial lost 80% of its value against the dollar from January 2017 to January 2021. During the same period, the value of Bitcoin rose by more than 3,800%.

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(The Central Bank of Iran (CBI) has prohibited the trading of Bitcoin and other cryptocurrencies mined outside the country, according to a report from news outlet Iran International.)

▲ Bakkt announces partnership with Cantaloupe.. Introduction of cryptocurrency and point payment

Bakkt, a digital asset-related company under the InterContinental Exchange (ICE), which operates the New York Stock Exchange (NYSE), announced on the 6th that it has entered into a strategic partnership with Cantaloupe, a Nasdaq-listed company that provides payment solutions. The post reported on the 7th. According to reports, retailers that adopt Cantaloupe’s payment solution will be able to pay with cryptocurrency and various points in the near future. Currently, you can use cash or credit cards, but the goal is to increase options and flexibility so that the Bakt app can make payments with the corresponding digital assets. “It’s often overlooked how many digital assets are unused,” said Gavin Michael, Bakt’s CEO. We are pleased to introduce an innovative payment method that can contribute to sales and customer satisfaction through this alliance.”

(Six days of internal continental funding and presentation of digital information, and in the case of a total of six days, and a total of six days in which the game was completed.)

▲ Digital Currency Group (DCG) invests in a cryptocurrency exchange GoPax parent company

Streamy, the parent company of cryptocurrency exchange Gopax, received direct funding from Digital Currency Group (hereinafter referred to as DCG), Cointelegraph reported on the 6th (local time). Reportedly, DCG founder and CEO Barry Silvert said, “We expanded our investments because of Streamy’s fantastic team and the tremendous potential of the Korean digital asset market. Streamy provides an important foundation for this market to expand rapidly, and our investments will strengthen our position as the most trusted digital asset platform in Korea.” DCG was confirmed to have become a major investor, but the terms of the contract were not disclosed by both companies. DCG was one of the earliest investors involved in Streamy’s Series A investment round in 2016.

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(Streami, the company behind the popular GOPAX exchange, has received direct funding from Digital Currency Group.)

▲ Nasdaq-listed auto insurance company’Metromile’ can pay insurance premiums with bitcoin

‘Metromile’, a company that pays insurance premiums per mile traveled, has announced that it will allow customers to pay insurance premiums in bitcoin, U2day reported on the 6th (local time). Reportedly, Metromile will allow policyholders to receive cryptocurrency for their claims. Metromile’s shares are traded on the Nasdaq Stock Exchange after being listed through the SPAC merger agreement in February this year. Metromile CEO Dan Preston told the San Francisco Business Times: “Bitcoin is a natural next step in giving customers a choice. There is potentially volatility associated with this, but I think it’s an important investment in our ability to trade in that way.”

(Metromile, a pay-per-mile insurance company, announced Thursday that it will allow its customers to pay for premiums in Bitcoin.)

[Coin code provision/blockchain valley editing]


Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.