Crypto adoption news
The major fintech company Revolut, headquartered in the UK, launched its cryptocurrency service in the United States through a partnership with the Paxos Trust Company. Revolut US is the first partner to use Paxos Crypto Brokerage, a new product offering that allows companies to integrate cryptocurrency buying, selling, storing and sending capabilities into their own applications.
The number of bitcoins (measured in BTC) transferred between darknet entities and other types of entities decreased in the first quarter of 2020 compared to the same period a year ago; however, according to Crystal Blockchain, a Bitfury technology research group, Crystal Blockchain analytics increased the value of the transferred bitcoin by 65%.
China's energy provider Gansu province has successfully deployed a blockchain node in the government network of the State Grid Corporation of China, The Paper reports. The province's energy supplier is the second in China to do so after a similar move from the Ningxia Hui Autonomous Region energy company.
1850 Coffee, a trademark of J. M. Smucker, said it would use their IBM blockchain technology to help their customers trace their coffee back to its country of origin and learn about efforts to help farmers in coffee-growing regions.
Major South Korean bank Nonghyup (NH Bank) intends to offer paperless, blockchain-based loans and mortgages to government employees starting in August, Noksek Kyungjae Shinmun reported. The bank says it has struck a deal with the Korean Government Pension Corporation and the Financial Settlement Service and will use blockchain-based identification solutions as part of its new proposal.
Chinese e-commerce giant JD.com has said it will provide free e-contract services using blockchain to small and medium enterprises by the end of the year, according to China Email. The company recently announced that its blockchain-based smart contract platform has downloaded over 1.3 billion data.
The Band Protocol (BAND), backed by Sequoia Capital with the backing of the internet data spokesman, said it is enabling Waves' open source blockchain platform (WAVES) to move into the DeFi (decentralized finance) industry by enabling cross-integration of its data. oracles into the wave ecosystem, including the use of neutrinos for the fast-paced algorithmic stablecoin.
The Ministry of Finance of Ukraine said it was working on a bill that would allow crypto legalization in the country. In a statement on the official Telegram channel, the ministry announced that it was working on a bill with two industry groups, Blockchain4Ukraine and Blockchain Ukraine Association, and noted that this step would open the way to crypto taxation in the country.
BlockFi, a major crypto company, has hired Jonathan Myers as its general counsel to help "the firm stay at the forefront of regulatory standards." Myers has experience in traditional finance, spent over 10 years at hedge fund Renaissance Technologies and has led legal and compliance activities at banks such as Deutsche Bank and Barclay.