As cryptocurrency continues to gain traction in the business world, this week has seen some of the most remarkable developments to date. Global financial giant PayPal has announced its foray into the crypto space, joining forces with Paxos Trust Company to offer customers the ability to buy, hold, and sell crypto. Meanwhile, leading asset manager Franklin Templeton has entered the Bitcoin exchange-traded fund (ETF) race, as the company seeks to offer investors exposure to the world’s largest digital asset. With the crypto biz at an all-time high, there’s never been a better time to dive into the crypto space.
1. PayPal Leads Crypto Charge
PayPal has officially stated that it will soon offer cryptocurrency services to its platform users, which could provide a much-needed boost to the digital currency market. The move makes PayPal a leader among the world’s biggest tech firms in taking digital currency mainstream.
The exact details of PayPal’s plans are not clear yet, but the company said customers will be able to use their crypto holdings to shop at its huge network of merchants. It’s expected that this new service will further drive adoption of crypto by engaging users who may not have used it before.
- Cryptocurrency users will soon be able to shop with digital currencies in PayPal’s vast network of merchants.
- This could bring much needed momentum to the digital currency market.
2. Franklin Templeton Joins BTC ETF Race
Franklin Templeton, a US-based asset management giant, has made a splash in the world of BTC ETFs. The company recently announced it would launch its own BTC ETF in 2021. With this move, Franklin Templeton is joining the ranks of the world’s biggest ETF providers.
As one of the world’s largest asset managers, Franklin Templeton will bring immense credibility to the growing BTC ETF market. While the company has not yet made any official details available, industry experts speculate that the Franklin Templeton BTC ETF will be an index fund, with lower fees than traditional ETFs.
- Franklin Templeton is the latest ETF provider to join the BTC ETF race
- The company will launch its own index fund BTC ETF in 2021
- The soft launch of the fund will bring immense credibility to the BTC ETF market
3. Grayscale Keeps Bullish on Bitcoin
Grayscale Investments continues to remain bullish on Bitcoin, painting a bright future for the flagship cryptocurrency. Since its founding in 2013, Grayscale has quickly become one of the most prominent players in the market, racking up over US$4 billion in assets under management in the process. So what makes Grayscale so sure about the future of Bitcoin? Here are three reasons why.
- Institutional Investment
- Grayscale’s most recent report shows that institutional investors are increasingly allocating larger amounts of capital to Bitcoin. This is a major confidence boost for the cryptocurrency, which has seen institutional adoption surge in recent years.
- Wide Availability
- Grayscale also points to the wide availability of Bitcoin, noting that individuals from all over the globe have access to the digital asset. This means that more and more people are able to store value in a secure and reliable manner.
- Increasing Utility
- Finally, Grayscale highlights the increasing utility of Bitcoin, noting that there are now more ways for people to use the cryptocurrency. This includes everything from payments to storing value, or even trading it for other digital assets.
Grayscale’s continued optimism about Bitcoin’s future is telling, particularly when combined with the recent influx of institutional investors. These factors suggest that the digital asset could continue to grow in value over the coming years, making it a compelling investment option for many.
4. “Crypto Cheese” Set to Become Latest Food Ship
Cryptocurrency has been making waves all across the globe and it appears that cheese will be the next item to fall under its influence. Enter Crypto Cheese, a revolutionary concept which plans to ship a range of quality dairy products all around the world. Here’s a look at why this cheese is set to become the latest delicacy set to enliven the taste buds:
- Crypto Dairy: Crypto Cheese sources all its milk, cream and cheese from certified organic farms, ensuring that you get not only quality but a sense of security when consuming their products.
- Unmatched Quality: Having their own micro dairy farms, Crypto Cheese plans to deliver top-of-the-line cheese made from all-natural ingredients.
- Lower Cost: With their own farms, the company is set to offer its cheese at a much lower price than rocks from the traditional market.
The company is also open to individuals who wish to invest in Crypto Cheese by buying ‘shares’ equivalent to the cheese they can purchase through a blockchain-based platform. And with the company planning to host cheese tasting parties in each country it operates in, it’s certainly set to become the next big thing.
5. Blockchain Powerhouse ConsenSys Joins Dragon Group
Giant IT corporation Dragon Group and blockchain stalwart ConsenSys have joined forces and announced their plans to embark on a journey together to realize their common vision.
The collaboration will enable both companies to benefit from sharing their insight and expertise, as well as their resources. Their partnership will explore various blockchain projects and notions, such as investment, research, and development of enterprise and government use cases.
What will ConsenSys and Dragon Group be doing? Here’s a snapshot of their plans:
- Investment: Both companies will invest in additional blockchain projects and companies together, surrounding the environment and development of distributed ledger technology.
- Research: Researching the applications of blockchain technology in enterprise and government settings is one of the key goals of their collaboration.
- Development: They will be developing enterprise solutions for both enterprise and government organizations.
Their joint effort will focus on discovering areas where blockchain can make a real difference, driving social changes and world development. This collaboration brings closer an opportune moment for the blockchain space and will enable ConsenSys and Dragon Group to offer endless opportunities to businesses and individuals.
The crypto world continues to amaze and delight with no signs of slowing down. With PayPal, you can now buy crypto with ease and Franklin Templeton entering the crypto ETF market you can now tap into a world of unprecedented investment opportunities. The crypto revolution has begun and if you want in, the time is now. Get ready for the ride of your life!
