Months after Bitcoin (BTC) became legal tender in El Salvador, a study conducted by the National Bureau of Economic Research (NBER) shows that 20% of businesses have started to accept BTC as a payment method. The study, surveying adults from 1,800 households in El Salvador, aimed to measure the adoption of BTC in the country after the Bitcoin Law was passed. The researchers found that BTC is gaining ground compared to other payment methods. According to the report, users who have downloaded the government-backed Chivo Wallet have “decreased their use of cash by 10%, while their net use of debit …

Multi-billion dollar Dubai-based real estate developer DAMAC Properties has started accepting Bitcoin (BTC) and Ether (ETH) payments for its luxury abodes. DAMAC Properties was founded by colorful billionaire Hussain Sajwani in 2002, and the firm has conducted business throughout the middle east, Canada and the United Kingdom. It also owns high-end fashion and jewelry brands Roberto Cavalli and De-Grisgono. Sajwani is known for extravagant marketing tactics such as giving away free Lamborghinis to property buyers. He also teamed up with Donald Trump in 2013 to launch multiple Trump-branded golf courses in Dubai. The firm, valued at roughly $2.1 billion, may …

Major United States-based payment processor PayPal will reportedly be closing its office in San Francisco, while the headquarters in nearby San Jose will remain available to employees. According to a Wednesday report from TechCrunch, the payments firm will be closing its offices in downtown San Francisco with its Xoom arm — the division responsible for international digital money transfer services. At the time of publication, PayPal has several job listings for San Francisco as well as 17 other locations across the United States and 32 international locations. A PayPal spokesperson reportedly hinted the closure was aimed at the company evaluating …

After suffering significant losses due to issues stemming from the COVID-19 pandemic, the sports industry has turned to crypto to recoup its losses and help fans stay connected with clubs in today’s socially-distanced world. Over the past 18 months, countless deals and sponsorships have been reported between Web3 projects and sports teams, and if things go as planned, this might be just the tip of the iceberg for these two industries. With the prices of Bitcoin and memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) exploding, projects are starting to realize the importance of a loyal community and are making …

The Bitcoin meme “Wen Lambo” might be making a comeback. For JayFab, a Redditor who owns and operates a welding and fabrication company, it’s certainly the case. Working in Kansas City, Missouri, in the Midwest, JayFab told Cointelegraph that he took payment in Bitcoin (BTC) for the repairs made to a Lamborghini Aventador. JayFab told Cointelegraph that receiving Bitcoin for repairing the car was his “first legitimate transaction,” even though he first got into Bitcoin in 2016. “From there [2016], I have taken the deep dive into the industry to learn about it, understand the tech and possibly have a …

Miami Tech Week took place last week in the South Florida city as part of the April Tech Month program, which also included NFT Miami and the Bitcoin 2022 conference earlier in the month. Tech Week kicked off with the eMerge Americas conference and the myriad of panel discussions scheduled throughout the city that followed. Cointelegraph gathered some key insights from thought leaders who participated, and the two main themes are Miami as a hot spot for crypto folks, and crypto as a disruptor of the investment landscape. eMerge Americas is a venture-backed organization with a mission to position Miami …

On Friday, Twitter and Stripe announced the rollout of crypto payouts for Stripe Connect. As told by the two companies, a select group of creators on Twitter will soon be able to receive their earnings on the platform in the form of the USD Coin (USDC) stablecoin. Payments will occur via the Polygon (MATIC) network, a layer-2 blockchain known for its low fees, fast transaction speed, innovative zero-knowledge technology and integration with Ethereum (ETH). As a centralized platform, content creators and freelancers would first need to pace Know Your Customer onboarding checks conducted by Stripe. Afterward, they can manage their …

Russia's Federal Tax Service (FTS) has joined the debate around crypto regulation in Russia with an unexpectedly blunt proposition — to let Russian companies use digital currencies as a payment method when transacting internationally. On Wednesday, local newspaper Izvestia reported that the FTS left its official feedback on the draft of the crypto bill prepared by the Ministry of Finance. In its remarks, the fiscal agency proposed to let Russian companies use crypto for certain operations: “To let corporate entities pay for goods and services according to foreign trade contracts and to receive revenue from foreign entities in digital currency.” …

Robinhood, a major cryptocurrency-friendly stock trading app, is pushing global expansion by acquiring the United Kingdom-based crypto asset firm Ziglu. Robinhood officially announced Tuesday that it had signed a deal to acquire Ziglu, subject to regulatory approvals and other closing conditions. The firm declined to disclose the size of the deal to Cointelegraph. “Subject to regulatory approval, in the near term, nothing will change for current Ziglu customers. Longer-term, we’ll integrate Ziglu more fully into Robinhood, bring the Robinhood brand overseas and work to expand operations beyond the U.K. into Europe,” the spokesperson for Robinhood said. The acquisition aims to …

Using cryptocurrencies for employee compensation Several companies have already started paying employees in crypto. There are several advantages to using cryptocurrencies for employee compensation, especially for companies with a global workforce. First, cryptocurrencies are borderless, which means that crypto can be used to pay employees anywhere in the world. Second, they are secure and irreversible, reducing the risk of fraud. Finally, cryptocurrency can be easily converted into local currencies, making them convenient for employees wanting to use them for everyday transactions. As more companies adopt this payment method, the use of cryptocurrencies as employee compensation will likely increase. Access banking …

Gemini, a major cryptocurrency exchange founded by the Winklevoss twins, has launched its crypto credit card. The company officially announced Thursday that its Gemini Credit Card is available in the United States across all 50 states. The new card is issued by the state-chartered industrial bank WebBank and features Mastercard as the exclusive card network. The card’s rollout comes more than a year after Gemini initially announced the project in 2021, aiming to reward users for using crypto for everyday transactions. Since launching the Gemini Credit Card waitlist last year, more than 500,000 users have signed up for the product, …

Rappi, the most popular delivery service in Latin America, is working with Bitso and Bitpay to accept Bitcoin (BTC) and other cryptocurrency payments. As reported by Cointelegraph Brazil, Rappi is integrating with Bitso and Bitpay through a trial project in Mexico. However, it's unclear whether the pilot plan will also enable access to the service in Brazil and other Latin American countries. In Mexico, Rappi, a Colombian delivery app with operations in nine Latin American countries, has launched a crypto payments pilot program. Customers will be able to convert crypto into credits that can subsequently be used to complete purchases …