Social media giant Facebook has tapped Coinbase and Paxos for its forthcoming Novi digital wallet project, which kicked off its pilot testing phase in the United States and Guatemala on Tuesday. Beginning Tuesday, a small cohort of users in both countries will be able to download the Novi digital wallet app on iPhone or Android devices and add money to their accounts with a debit card. From there, they will be able to send and receive money using Pax Dollar (USDP), a dollar-backed stablecoin issued by blockchain trust company Paxos. Facebook selected USDP in its pilot program because of its …
Kate Rouch will be joining major cryptocurrency exchange Coinbase after more than 11 years in various positions at Facebook. In a Thursday blog post, Coinbase chief operating officer Emilie Choi said the company had hired Rouch as its new chief marketing officer, responsible for overseeing the exchange’s global brand, as well as product and performance marketing. Until recently, she was the global head of brand and product marketing at social media giant Facebook, but now aims “to bring millions more people into the cryptoeconomy.” “I am so inspired by what I’ve learned about crypto, and the vast ecosystem it is …
The supply of the Coinbase-backed stablecoin USD Coin (USDC) has grown by 250% since the start of 2020, including an 80% expansion in just the past two months. After starting the year with a nearly $520 million market cap, USDC now ranks as the 16th-largest crypto asset with a $1.86 billion capitalization — beating out all other major stablecoins except for the $14.5 billion Tether (USDT) by at least four times. Meanwhile, other stablecoins (most of which are pegged to the value of $1 US) have also seen significant growth this year, with DAI and Binance USD expanding by 970% …
American crypto exchange giant Coinbase went public on Wednesday with a direct listing on Nasdaq. The company’s performance on day one has been hailed as being positive overall, with Coinbase becoming the most valuable exchange in the United States ahead of legacy players such as the Chicago Mercantile Exchange. Coinbase’s first day of trading was seen by market commentators as a watershed moment for the crypto space, but how does its performance compare with that of other major companies to go public in the last decade? Trading under the ticker “COIN,” Coinbase stock opened at $381, which as expected, was …
Meta — the company formerly known as Facebook — is diving straight into virtual reality with a preview of its latest research and development on haptic gloves which give sensory feedback while in digital realms. Facebook rebranded to Meta in late October to shift its focus from social media to Metaverse and VR tech development. In a Nov. 16 blog post, Meta shared the latest breakthroughs in haptic glove research from its VR tech firm Reality Labs, noting that the product has been seven years in the making. The firm shared a video that shows two people testing the haptic …