Since launching Bitcoin in 2008, Crypto has provided an endless amount of white space with imaginable and unimaginable market opportunities, often with mobile at the center of Art in Gaming. S4522
Turkish cryptocurrency market
The Turkish government banned the use of cryptocurrency payments in April 2021, but investing in cryptocurrency has not been explicitly banned. Turkey’s cryptocurrency market continues to grow at a rapid pace despite seemingly unpromising policies, as data from chain analysis showed a 1500% growth in Turkish cryptocurrency transactions from 2020 to 2021. High inflation and currency depreciation are making people eagerly search for new investments to combat currency devaluation. Crypto assets still seem like a good option, and they want to buy stablecoins to preserve their wealth.
According to tripe-a’s ongoing monitoring of the global cryptocurrency market, Turkey had 3,811,882 cryptocurrency users in 2022, or about 4.5% of its national population. In Vietnam, where cryptocurrency is gaining popularity, the number of domestic users is 20.27% of the total population. These data show that the Turkish market still has a lot of room for growth. Turkish investors are mostly men with a 90% stake, and with the increasing popularity of cryptocurrency, a small number of women have started adopting cryptocurrency as one of their investment options. Turkish investors are well educated, with 52% of users having a bachelor’s degree or higher and only 6% having less than a high school diploma, providing them with a solid foundation to learn about investing in cryptocurrencies.
Israeli cryptocurrency market
Between 200,000 and 300,000 Israelis own or trade in crypto assets.
The Israeli cryptocurrency market is trying to keep pace with the global pace. Important steps are being taken to regulate the Israeli cryptocurrency market. An amendment to the Bank of Israel Anti-Money Laundering and Terrorist Financing Risk Management Directive, which calls on banks to stop explicitly rejecting cryptocurrencies and specifically review each case, is expected to enter into force on November 9, 2022.
Bits of Gold crypto broker has just been approved for a perpetual license from a financial services provider.
Will the crypto winter turn into an ice age?
Global blockchain funding fell 35% q-o-q to $4.6 billion, less than half the record in the first quarter of 22. Blockchain infrastructure and developer firms saw a record number of transactions at 74, an increase for the fourth consecutive quarter.
Invest in early stage startups
CoinFund is seeking to raise $250 million to invest in early-stage startups just three months after investment firm Web3 announced its previous fund. The Cayman Islands-based company’s funds are seeking $130 million and $20 million, while its Delaware-incorporated company is seeking $100 million. Last August, the company announced a $300 million car backed by institutional investors, where would you invest? It’s not obvious, but let’s look at what they supported earlier: Solana, web indexing protocol 3 The Graph, and blockchain infrastructure company Blockdaemon. Recently, he participated in a $18.5 million round of developer platform Hyperlane and a $3.5 million round of crypto investment app Solvo.
Real time payment
A big fintech trend on the horizon is real-time payment. This allows payments to be filtered and settled in real time, and at a fraction of the cost, compared to other methods such as credit cards or bank transfers. Consumers will benefit from instant bank-to-bank reconciliation in use cases, easier peer-to-peer transfers, better accuracy when paying bills, and easier management of recurring monthly payments.
The benefits of asset coding are many. From increased liquidity to operational efficiency and real-time traceability, there are many opportunities for this technology. Transactions in the blockchain occur in a decentralized infrastructure and without the need for a central third party intervention for reconciliation. The inefficiencies of manual labor are reduced through the use of smart contracts or native blockchain functionality, creating a simpler settlement process. Tokenized assets enable faster transactions with lower administrative burdens and significantly lower transaction costs. Since every transaction is immutable and recorded on the blockchain, the owners cannot change the history of the token asset to make it more attractive. This allows investors to access a clear view of the updated history and make more informed decisions.
CB Crypto for Blockchain.com
A day after posting better-than-expected revenue, Visa is expanding the use of another major crypto company on its payment network. This latest card from Luxembourg-based Blockchain.com will be distributed by fintech company Marqeta (MQ), and is free and allows users to earn 1% of the cryptocurrency. The stock continues a long-running trend of crypto companies trying to make it easier for customers to use their digital assets investments to pay for products and services in the real world.
Pick n Pay will accept payments in cryptocurrency
One of South Africa’s largest grocery stores, Pick n Pay, is expanding a pilot project to add cryptocurrency as a payment option to more stores after the successful completion of phase one. The retailer has conducted a Phase 1 trial in 10 stores in the Western Cape over the past five months with pre-qualified testers. Pick n Pay said it has now been rolled out to 29 other stores for testing with customers, with plans to roll out to all stores in the coming months.
Pick n Pay has partnered with Electrum and CryptoConvert in its latest beta. The company added that Electrum’s payment platform connects Cryptoconvert and Pick n Pay, allowing customers to pay using Bitcoin Lightning technology at the point of payment.
What is a digital rupee?
The Reserve Bank of India is about to launch the pilot project for its Central Bank Digital Currency (CBDC). Commonly referred to as a digital rupee, it will be exchangeable for existing currencies and is considered an accepted payment and a safe store of value. The CBDC issued by the Reserve Bank of India aims to create an additional option for the use of cash and is not much different from the currently issued banknotes, only the digital rupee should be digitally processed and facilitate its use. The digital rupee is the accepted version of the cryptocurrency from the Reserve Bank of India, which the central bank has repeatedly dismissed as a serious challenge to the stability of the country’s financial system.
The UK is the largest cryptocurrency market in Europe
The UK had the highest crypto transaction value of any European country, according to recent Crypto Adoption Index data from Chainalysis. The latest report took the UK from 21st place in 2021 to 17th today. About 20% of Web 3.0 and crypto traffic to non-exchangeable token sites and loan agreement sites in Europe came from the UK. The UK market was also ranked among the top five countries in Western Europe that recorded growth from July 2021 to July 2022, based on the raw number of cross-chain transactions that occurred each quarter.
mBridge cross-border project
While the People’s Bank of China (PBOC) has not given any indication of the role the blockchain will play in the digital yuan (eCNY). mBridge is a joint venture between PBOC, the Hong Kong Monetary Authority (HKMA), the Bank of Thailand, the Central Bank of the United Arab Emirates (UAE) and the Hong Kong Innovation Center of the Bank for International Settlements. It is a closely watched experiment as the only large-scale use of the blockchain to settle international payments.
mBridge was trialled from August 15 to September 23 and saw 20 commercial banks transfer 150 million yuan ($22 million) across 160 payments, and 80 million yuan of digital securities were issued on the platform. The success of mBridge, which stands for Multiple Bridges with China’s digital currency, is seen as a potential way for Beijing to drive the internationalization of the yuan while maintaining strict control. The goal of increasing the international yuan has long been hampered by strict domestic capital controls, which helps reduce the risk of capital flight but makes the yuan less useful for currencies.