The cryptocurrency market capitalisation hit an all-time peak of $2-trillion on Monday as gains over the last several months attracted demand from both institutional and retail investors.
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PayPal will announce later on Tuesday that it has started allowing US consumers to use their cryptocurrency holdings to pay at millions of its online merchants globally.
Visa said it will allow the use of a cryptocurrency called USD coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry.
Microsoft president Brad Smith has cast doubt on whether fintech companies should issue currencies, saying governments are still best-placed to play that role.
The financial services industry, braced for what could be its biggest disruption in decades, is about to get an early glimpse at the Federal Reserve’s work on a new digital currency.
A Financial Sector Conduct Authority health warning on cryptos comes amid a flood of complaints from investors who lost money or were scammed, says head of enforcement at the regulatory body, Brandon Topham.
It’s certainly not at the same scale as a Tesla or a MicroStrategy, but some privately held South African firms have started converting a portion of their cash holdings into cryptocurrencies like bitcoin.
Coinbase Global, the largest US cryptocurrency exchange, said on Wednesday that recent private market transactions had valued the company at around $68-billion.
For centuries, money issued by governments has served as the lifeblood of the global economy. But in our digital age, it’s facing a bizarre, postmodern sort of competition.
Bitcoin consolidated around US$60Â 000 on Monday, taking a breather from the weekend’s record high as investors prepared for inflation worries…