The Crypto Compass Issue #35

Hello to our dear readers and crypto enthusiasts!

As we step into another riveting week in the crypto sphere, we're witnessing the perfect blend of old and new. Traditional giants like JPMorgan are optimistic on the future of crypto, while innovative collaborations between Nexo & Mastercard, and Lufthansa & Polygon, promise to redefine customer experiences. Dive in to get the full scoop on these events and more!

JPMorgan's Optimism for Spot Bitcoin ETFs

After Grayscale's recent court win against the SEC, JPMorgan analysts anticipate forthcoming approvals of multiple spot bitcoin ETF applications. The court ruled the SEC's prior decision to allow futures-based ETFs, yet deny Grayscale's spot ETF proposal, as inconsistent. Given the tight correlation between futures and spot bitcoin markets, the SEC's rejection was deemed unjustified. Given these circumstances, JPMorgan foresees the SEC endorsing spot bitcoin ETFs sometime in the near future.

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Nexo and Mastercard Team Up for a Crypto Card

The crypto lending platform, Nexo, and global payments giant, Mastercard, have collaborated to unveil what they claim to be the world's first dual-mode crypto card. This card not only allows users to earn up to 2% cashback in Nexo tokens for all purchases but also provides the flexibility of choosing between two payment modes: credit or prepaid. This innovation can potentially redefine how users interact with crypto cards, providing them with a seamless experience.

Lufthansa’s Loyalty Program Soars on Polygon

In an attempt to reimagine customer loyalty programs, Lufthansa, one of the world's leading airlines, has chosen to leverage the Polygon blockchain for its new UPtrip program. Users can now earn "UPtokens" for flights and use these tokens for various rewards. This collaboration signifies a growing trend of mainstream companies integrating blockchain technology to enhance user experience.

Happenings of the week

• Binance Announces Send Cash in Latin America

• Fidelity. Ethereum Investment Thesis

• Markets Erase Weekly Gains After SEC Delays Bitcoin ETF Decisions

• Travel Rule regulation comes into force in the UK for crypto asset firms

• France’s Data Watchdog Conducts Checks at Worldcoin Office in Paris

10 Ideas Brian Armstrong is Most Excited about in Crypto

This week, we discovered a thread by Brian Armstrong (CEO of Coinbase) which is extremely valuable. It highlights the numerous problems that blockchain could solve, have a look here and we hope it will help your next web3 business venture!

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