Autor Cointelegraph By Keira Wright

Google Pay hires PayPal exec to head up crypto payments push

Google Pay hires PayPal exec to head up crypto payments push

Uverejnil používateľ | jan 20, 2022 |

Google has hired a former PayPal executive to help bolster Google Pay, with plans to expand into the crypto space. Arnold Goldberg has been given the task of running Google’s payments division as part of a company-wide push into financial services, including crypto. Google’s president of commerce Bill Ready told Bloomberg that:“Crypto is something we pay a lot of attention to […] As user demand and merchant demand evolves, we’ll evolve with it.”Google Pay is an online payment system developed by Google to allow in-app, online and contactless purchases on mobile devices including Android phones, tablets and watches. As part of the overhaul, Google will focus more on being a “comprehensive digital wallet” that includes digital tickets, airline passes and vaccine passports, Ready said. Following the news, the price of Bitcoin (BTC) spiked to a high of $42,478 (from a 24-hour low of $41,254) before falling back down to $41,887 at the time of writing according to Coinmarketcap. Google has been dipping its toes in the crypto space for quite some time, partnering with several crypto companies through 2021. Ready said that the company plans to pursue more partnerships with more crypto companies. In April 2021, Google Pay announced a new partnership with global crypto exchange Gemini. The update allowed Gemini users to purchase Bitcoin through Google Pay using fiat currency on a debit or credit card.The tech giant also partnered with Coinbase in June, allowing customers of the exchange to pay for goods and services through Google Pay using their Coinbase Card. Users also were able to gain crypto rebates of up to 4% for their shopping. In Oct, a partnership between crypto exchange Bakkt and Google allowed customers of the exchange to purchase goods and services using some select cryptocurrencies through their Google Pay wallet. As for Paypal, it appears that the fintech company will be one man down as it explores the creation of its own stablecoin. Earlier this month, Paypal confirmed plans to launch “PayPal Coin,” which developer Steve Moser first found in the source code of the platform’s iPhone app. Related: Bakkt crypto exchange partners with Google for paymentsThis comes only three months after the tech giant axed its plans for a service called “Plex” that would allow users to create checking and savings accounts. “We’re not a bank — we have no intention of being a bank,” Ready said about the decision to cut Plex. “Some past efforts, at times, would unwittingly wade into those spaces.”Google Pay debuted in 2015, with a revamp in 2020 which transformed the platform into a hub where customers could track their expenses and hunt for discounts.

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Fintech startup Milo is offering 30-year 'crypto-mortgages'

Fintech startup Milo is offering 30-year 'crypto-mortgages'

Uverejnil používateľ | jan 19, 2022 |

Miami-based fintech startup Milo is introducing what it claims is the world’s first “crypto mortgage.” The digital bank will allow crypto investors to leverage their digital assets to purchase real estate in the U.S. At the moment, only customers wanting to use Bitcoin (BTC) as collateral qualify for Milo’s 30-year mortgage loan. Both American and International customers will be able to use the service to purchase real estate in the U.S. Milo’s website states:“Instead of selling your crypto for a down payment to qualify for a mortgage, a crypto mortgage lets you leverage your crypto to invest in real estate.”Milo says it has already granted some loans as part of its early-access stage, and expects the service will be available to most applicants on its waiting list in the coming months. It remains unclear how much BTC will be needed to secure a loan, or the level of overcollateralization needed to balance out the digital asset’s volatility. Cointelegraph has asked Milo for more details and will update this story when we hear back.BREAKING: You can now buy a house using #Bitcoin as collateral and ZERO fiat deposit with mortgage lender Milo.— Bitcoin Archive (@BTC_Archive) January 18, 2022Josip Rupena, CEO and Founder of Milo said that the idea came in response to seeing the “countless stories” of people cashing out their BTC to purchase property, only to see it increase in value later on.“The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value.”Milo says that the company’s other mortgage solution for foreign nationals has originated millions of dollars in loans already and seen applicants from over 63 countries. It allows non-U.S.-based customers to close their housing loans remotely, without the need to travel to the U.S. or to an embassy.Introducing Rupena at the North American Bitcoin Conference on Jan 17, pro-crypto Miami Mayor Francis Suarez said that the Bitcoin mortgage is a “groundbreaking achievement” for advancing U.S. dominance in the Bitcoin ecosystem. “To become the Capital of Capital, Miami needs companies like Milo who are willing to innovate and ideate,” he added.Milo isn’t the first company to have its sights set on a crypto mortgage.In Aug 2021, United Wholesale Mortgage started testing the waters for crypto mortgage repayments with Ether and BTC in a pilot program. However, by Oct, it had dumped its plans due to regulatory uncertainty.Related: Propy rallies 227% as real estate NFTs become reality and PRO lists at CoinbaseMilo raised $6 million in seed funding from investors including QED investors, Metaprop, and 10x Capital in Jan 2021.Rupena has formerly worked at multinational Investment banking companies Morgan Stanley and Goldman Sachs.

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IreneDAO NFTs causing a stir on crypto Twitter

IreneDAO NFTs causing a stir on crypto Twitter

Uverejnil používateľ | jan 18, 2022 |

The story of the IreneDAO NFT craze started in October when 28-year-old Chinese crypto influencer and model Yuqing Irene Zhao came up with the idea for “So-Col” with her business partner, Benjamin Tang.So-Col is short for “Social Collectables,” Irene explained to Cointelegraph, and the platform aims to help content creators monetize their content and build communities with their fans.Branded as the “decentralized version of OnlyFans, Discord, Twitch, and Patreon,” the platform allows content creators and influencers to convert their social media content into non-fungible collectible items (NFTs.) It is powered by StarkWare’s layer-two solution StarkEx and leverages the decentralized ID protocol.Fast-forward to Tuesday last week, Tang and Irene launched a sticker pack for Irene’s Telegram community to use on the messaging app. The stickers feature superimposed photos of Irene with meme slang text used by members of the crypto community like “gm”, “wen Binance”, and “yes ser.”A timeline: sticker pack, to NFT collection, to DAOThe sticker pack immediately gained a lot of traction, reaching 2,000 installations within four days according to Irene. On Wednesday, she was contacted by a fan called “libevm” – who told Cointelegraph they would prefer to stay anonymous – on Twitter, who suggested that she consider turning the sticker pack into NFTs. Irene agreed, and they tokenized the stickers into 1,106 NFTs on the OpenSea marketplace by Friday. The NFTs are described as an “access pass” to the DAO’s “Genesis Tribe,” initially distributed with a free mint. They’re currently trading at a floor price of 1.47 Ether ($4,668), with a total volume traded of 2,000 Ether ($6,351,180). Source: IreneDAO NFT collection on OpenSea“We at So-Col thought it was a great idea as we wanted to create a prototype for our core concept of a community-driven creator economy. We then extended the idea into a DAO, and “libevm” and my co-founder Ben hacked it together within a day,” she explained to Cointelegraph. “What we didn’t expect was that our test case was an instant hit. In fact, I was not even aware when it was launched – I was out for a swimming lesson! By the time I came back from the pool after 40 minutes, the entire 500 NFTs were gone. I didn’t even have one to myself!”Wait, so I have a DAO now?? https://t.co/qGJTygagLn— Irene Zhao (@Irenezhao_) January 14, 2022IreneDAO polarizes the crypto community Despite its success, neither “libevm” nor Irene say they have taken a cent from the project. Rather, the money will be used by the DAO community to “experiment the best ways of integrating web3 into the creator economy.”When the DAO was initially launched, members were able to mint a free genesis pass by logging onto the website. However, all 1,107 passes were claimed in the first 30 minutes, explained Irene. By purchasing one of the sticker NFTs, fans are also effectively purchasing a membership for the DAO. The success of @Irenezhao_ will probably be a bigger factor to attract more females into the crypto space than any other efforts so far. Kind of crazy how far and how much access a smart, capable, and attractive girl can get in this space.This is a non-politically correct view.— Arthur (@Arthur_0x) January 16, 2022

“We’re discussing it in the discord on how to extend it so it becomes more inclusive, explained “libevm”, adding that they use the NFTs to “signal how funds should be used” within the DAO.Perhaps unsurprisingly, Irene’s success has led to some polarizing reactions in the crypto community. Some big names like Galaxy Digital CEO Mike Novogratz and YouTuber Logan Paul have actually bought into the project themselves.awww thank youu! DM 🙂 https://t.co/h9dTPLL1pw— IreneDAO (@0xIreneDao) January 16, 2022

“Proud member of team @Irenezhao_ I love the hustle. This young woman has created her own brand in less than a year. And NFT’s allows her to pull her community together,” wrote Novogratz in a Sunday tweet. Paul’s OpenSea wallet also indicates that he purchased 20 of the NFTs for a total of approximately 85.9 Ether ($280,000).BREAKING: Logan Paul has purchased 20 NFTs from Irene Zhao (famous Instagram model) for over $270,000. #NFT @LoganPaul #Irene pic.twitter.com/AwKhpUFSsK— Mr. Whale (@CryptoWhale) January 16, 2022

Is a collab between Ghozali and Irene Zhao on the cards? “Libevm” explained to Cointelegraph that they came up with the idea to turn the Telegram stickers into an NFT collection following the success of fellow crypto influencer, Ghozali. The Indonesian 22-year-old has made $22 million selling NFT selfies on the OpenSea marketplace. In fact, members of IreneDAO already appear to have their sights set on a potential future collaboration. “The DAO has spoken,” wrote Irene in a Jan. 14 tweet. “I would like to extend an open invitation to you to work on a collaboration.”Since then, someone has created an OpenSea account called “GhozalIreneDAO,” featuring some questionable edits of Ghozali’s head superimposed onto Irene’s body. Picturing what this might look like… pic.twitter.com/i7lcI3PSyu— nftalee (@nftalee) January 14, 2022

Related: An Indonesian 22-year-old makes $1M by selling NFT selfies on OpenSeaSo-Col recently closed its seed investment round, with investments from many industry leaders including Animoca, Defiance, 3AC, and Mechanism. In 2021, Irene rose to prominence in the crypto space through her role as Chief Marketing Officer at Konomi Network.

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FTX announced as naming rights sponsor of Australian Blockchain Week 2022

FTX announced as naming rights sponsor of Australian Blockchain Week 2022

Uverejnil používateľ | jan 18, 2022 |

FTX Trading Limited (FTX) will be the naming rights sponsor for Australian Blockchain Week 2022, which will run from March 21 to 25. Blockchain Australia is the peak industry network in Australia, bringing together industry, academia and government to discuss the opportunities of blockchain technology. I’m incredibly excited to announce @FTX_Official as the Naming Rights Sponsor for Blockchain Week 2022. A huge to @SBF_FTX for your support of the Australian ecosystem pic.twitter.com/B6cUWaTWIE— Steve Vallas (@stevevallas) January 17, 2022Over 200 speakers across 75 events will present at Australian Blockchain Week, including FTX CEO Sam Bankman-Fried. Launched in May 2019, FTX is a Bahamian-based cryptocurrency derivatives exchange. At the time of publication, it had a 24-hour trading volume of $1.41 billion according to Coinranking. Steve Vallas, Chief Executive Officer of Blockchain Australia, said the appointment comes at a “watershed moment” as the Australian blockchain ecosystem continues to go mainstream.“Growing interest in blockchain technology from major financial institutions together with signs of increasing regulation for the industry mean this year’s event is being held at a critical time for all players in this market.” Bankman-Fried said that the partnership comes as the first iteration of its focus on supporting the “long-term growth of the Australian market.” “We look forward to contributing to discussions to advance the local industry, better safeguard and protect consumers, and enabling financial institutions to evolve and thrive in the crypto industry.”Related: Blockchain Australia says gov’t still dismissing industry as a ‘wild west’Australian Blockchain week will come shortly after the businessman’s address at the Asian Financial Forum on Jan. 11, where he called on regulators to create a single framework for digital assets.In December 2021, Bankman-Fried led FTX to be among the top 2021 unicorn companies, ranking 11th with a valuation of $25 billion. The deal comes as the latest instance of international crypto exchanges paying big bucks to get their names in front of an Aussie audience. Yesterday, Singaporean crypto exchange Crypto.com agreed to pay $30 million to sponsor the Australian Football League.

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Is Walmart gearing up to enter the Metaverse?

Is Walmart gearing up to enter the Metaverse?

Uverejnil používateľ | jan 17, 2022 |

It appears that retail giant Walmart Inc. is getting ready to enter the Metaverse with patent filings indicating that it plans to create its own cryptocurrency and NFT collection. The multinational retailer filed several new trademarks with the U.S. Patent and Trademark Office on Dec. 30, however, they remained unnoticed until a Jan. 16 report by CNBC shed more light on Walmart’s ambitions. Walmart filed a total of seven patent applications at the time, including three under its existing advertising division “Walmart Connect”. The applications included plans to create and sell “virtual goods,” including the likes of electronics, toys, appliances, apparel, and home decor. There’s also mention of a “digital currency” and “digital token”, and opportunities to buy and sell NFTs.Meanwhile, a separate application suggests plans to trademark the Walmart brand name and logo in virtual reality (VR) and augmented reality (AR), with the possibility of introducing “physical fitness training services” in VR and AR. This is how Walmart envisions Shopping in the #Metaverse.Thoughts? pic.twitter.com/5l7KhoBse7— Homo Digitalis (@DigitalisHomo) January 3, 2022This comes as the latest in a string of recent events indicating Walmart’s interest in the Metaverse. In August, the retail giant listed a job vacancy for a “digital currency and crypto product lead” to drive digital currency strategy. The job listing has since been removed but it is unclear whether the role was filled. A Linkedin search for a person working at Walmart with the role turns over no results. Back in October, Walmart also partnered with crypto ATM company Coinstar and crypto-cash exchange Coinme to install 200 Bitcoin ATMs in its stores across the United States. In addition, Walmart has used blockchain technology for supply chain management, customer marketplaces, and smart appliances since 2018. Related: Fake news: Litecoin price surges 35% following Walmart adoption hoaxAccording to analysts from Morgan Stanley, the Metaverse could present an $8 trillion opportunity for retailers. During the third quarter of 2021, Walmart saw sales reach $11.1 billion according to Digital Commerce 360. Walmart is the largest private employer in the U.S. with a market capitalization of over $406 billion. It operates a chain of hypermarkets, discount department stores, and grocery stores.

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