WeChat Merchants Banned From Crypto Payments

On May 7, Dovey Wan, founding partner of crypto investment firm Primitive Ventures tweeted that the Chinese social media behemoth and payment service provider WeChat is set to ban merchants from making cryptocurrency payments. This ban marks the latest effort to stymie cryptocurrency usage in China, with the government also mulling over ways of greatly …

Polychain CEO Says Facebook’s Rumored Stablecoin Blockchain Should Be Public

Polychain Capital CEO Olaf Carlson-Wee thinks Facebook would be smart to build its stablecoin on a public, open blockchain infrastructure. Carlson-Wee delivered his remarks at the Consensus 2019 panel “To the Moon and Back” on May 15. Carlson-Wee explained that the blockchain platform he is referring to is one like bitcoin’s, in which the creator relinquishes …

Bitcoin’s Recent Surge Due its Maturation as an Asset

New data suggests that bitcoin’s (BTC) growth is explained by its maturation as an asset based on conversations surrounding the leading cryptocurrency, Bloomberg reported on May 15. Bloomberg cited a report from web intelligence platform Indexica, that developed an index based on natural language processing of textual documents in an effort to explain bitcoin’s recent …

Luxury Fashion Brand Alyx to Use Iota’s DLT for Supply Chain Tracking

Luxury fashion brand Alyx intends to use Iota’s distributed ledger technology (DLT) for supply chain tracking, cryptocurrency news outlet The Block reports on May 15. Per the report, Iota’s system will be implemented in partnership with global manufacturing company Avery Dennison to allow Alyx’s customers to have full insight into their supply chain. By scanning …

German State Announces Plan to Establish European Blockchain Institute

The government of the German state North Rhine-Westphalia (NRW) announced plans to establish the European Blockchain Institute to research blockchain technology in a press release on May 13. According to NRW Economics Minister Andreas Pinkwart, the European Blockchain Institute will be founded in the city of Dortmund later this year, inside the Fraunhofer Institute for …

Blockchain, Crypto Will Have a Role in US Tech Independence

Technology needs to be a national issue for the United States, with digital currencies and blockchain to be recognized within that goal, according to Ripples’ Director of Regulatory Relations Ryan Zagone, at the Consensus 2019 conference on May 14. Zagone stated that technology needs to be a national security issue for the U.S. to ensure …

HTC Debuts Smartphone In-Wallet ERC-20 Token Swaps

Consumer electronics giant High Tech Computer (HTC) is rolling out in-wallet cryptocurrency trading for users of its Exodus 1 smartphone, according to a press release shared with Cointelegraph on May 14. HTC, which this week announced a low-cost version of its blockchain smartphone would appear around Q3 2019, now allows Zion Vault users to swap …

Payments Startup Uphold to Use Ledger Vault

French crypto hardware firm Ledger will provide its technology to American payments startup Uphold to improve security, according to a press release shared with Cointelegraph on May 13. Formerly known as Bitreserve, Uphold will reportedly incorporate Ledger’s institutional custody platform Ledger Vault to boost its anti-hack protection by adding an additional layer of security. J. …

ICE Pushes for Bakkt Bitcoin Custody License — CFTC Approval Imminent?

The Intercontinental Exchange (ICE) is reportedly taking steps to ensure approval from the United States Commodity Futures Trading Commission (CFTC) for its bitcoin futures contracts platform — Bakkt. ICE, the operator of the New York Stock Exchange (NYSE), recently acquired a cryptocurrency custodial service and are mulling plans to register Bakkt as a licensed trust …