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- The Crypto Compass Issue #20
The Crypto Compass Issue #20
Cryptocurrency adoption across the globe!? Read it in our weekly newsletter now! Brought to you by BitcoinWalletSG.
Hey Friends!
We're back with another edition of your favorite newsletter, The Crypto Compass. As we navigate the ever-changing seas of cryptocurrency, we're here to make sure you don't miss any crucial developments. This week, we're shining a spotlight on cryptocurrency adoption across the globe.
Binance's payment provider in Brazil, Latam Gateway, has recently obtained a license from the country's central bank. This license enables Latam Gateway to operate as a payment institution and electronic money issuer. Latam Gateway supports foreign companies, including Binance, in their Brazilian operations by providing ramps for Brazilian real. This is a significant breakthrough, as Brazil is one of the largest economies in South America, and such developments may spur more interest and trust in cryptocurrency.
In Hong Kong, we're seeing a digital revolution take form. The Hong Kong Monetary Authority has begun testing a digital version of its currency, the e-HKD, in a pilot program. Major firms, including HSBC Holdings Plc, the local unit of Bank of China Ltd., e-payment provider Alipay, and Visa Inc., have signed up for this initiative. The trial will explore e-HKD’s potential use in six areas, including offline payments, demonstrating the growing interest in digital currencies from established financial institutions.
Meanwhile, in a significant boost for Bitcoin, the payments app Strike has announced its expansion into a total of 65 global markets. Since its inception in 2019, Strike, led by entrepreneur Jack Mallers, has been aiming to become a global crypto-powered equivalent to Venmo or Cash App. This expansion marks a significant stride in their mission, especially considering the move of its global headquarters to El Salvador, a nation which recently established a regulatory framework for crypto. The expansion represents the first attempt to build an app that allows people across the world to transact with each other using Bitcoin.
These events are great examples of the increasing adoption of cryptocurrency around the globe. As more countries and companies embrace digital currencies, we can expect this trend to accelerate. Cryptocurrency is gradually becoming more than a speculative asset or a niche technology - it's becoming a global financial movement.
Remember, the compass always points to the future, and in our case, it's a future powered by crypto. Stay tuned for more updates, and keep exploring!
Best, QH
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