Point Roberts, WA and Delta, BC – July 24, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investment news brings you today’s edition of Crypto Corner podcast and comments about what drives cryptocurrency shares and the crypto market.
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Crypto Corner Episode 429: World Stablecoin Association Launched in Switzerland, Opera (NasdaqGS: $ OPRA) Expands Crypto Functions to England, and US Bank Provides Crypto Custody Detention
Shares discussed: (NasdaqGS: OPRA)
Cointelegraph reports the launch of the international Stablecoin organization in Geneva, Switzerland, called the World Stablecoin Association (WSA). The organization’s goal – which “will be launched by VirgoX cryptocurrency exchanges and the blockchain capital market company Global Digital Assets, or GDA Capital” – is to “unite the main global stablecoin project,” “promote global development of stablecoin, and actively engage in advocacy for currencies. digital. “VirgoX CEO Adam Cai said:
“Together, this NPO has collectively pushed the industry forward to serve the needs of global users. To add to that, we are confident the market cap of stablecoin will explode in the near future. We have seen stablecoin exceed 10 billion not long ago.% Growth in the last 2 years is significant. This trend will definitely continue. “
Based on Block, Opera internet browser (NasdaqGS: OPRA) is expanding its crypto wallet refill service to users in the UK. This is being done in collaboration with the crypto provider Ramp Network, which itself “supports fiat transfers from bank accounts as well as Revolut’s digital banking application.” This follows a similar expansion to other regions, such as the US, where Opera partnered with US cryptocurrency brokerage Wyre. During the expansion to the US, Charles Hamel, Head of Crypto in the Opera browser, commented:
“Allowing our users to easily load cryptocurrency into their browser’s digital wallet is very powerful, because it connects the Web to the original global internet payment network.“
The Office of Currency Oversight (OCC) – part of the United States Department of Finance responsible for leasing and regulating national banks – has given banks permission to hold cryptocurrency, according to a report from Cointelegraph. Excerpts from letters about the subject of the OCC outline the reasons behind the decision:
“OCC recognizes that, as financial markets become increasingly technological, there is likely to be an increasing need for banks and other service providers to take advantage of new technologies and innovative ways to provide traditional services on behalf of customers.”
Acting Comptroller of the Currency Brian Brooks, who was previously part of Coinbase’s legal team, said:
“From deposit boxes to virtual safes, we must ensure banks can meet the financial services needs of their customers today.”
Sam Mowers, Investorideas
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