In November 2021, MoonPay announced a $555 million Series A financing round that brought the crypto payment platform's valuation to $3.4 billion. On Wednesday, the fintech company revealed that $87 million of the total $555 million came collectively from more than 60 public figures and celebrities in the music, sports, media and entertainment industries. While the Series A round was led by firms like Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following household names are also considered strategic investors: Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce …

Major cryptocurrency loan company Nexo has officially launched a crypto-backed Mastercard card enabling users to pay for services with cryptocurrencies like Bitcoin (BTC) without selling their crypto. Nexo has partnered with Mastercard and the peer-to-peer payment startup DiPocket to launch the Nexo Card, a crypto card allowing cardholders to use their crypto as collateral rather than selling it, the firm announced to Cointelegraph on Wednesday. The card is linked to a Nexo-provided, crypto-backed credit line allowing to use of multiple assets as collateral, including but not limited to Bitcoin, Ether (ETH) and the Tether (USDT) stablecoin. "The Nexo Card functions …

Fresh data on Indian crypto exchanges' trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India's new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects. A research data report shared by Indian blockchain analytic firm Crebaco with Cointelegraph shows that trading volume on top Indian crypto exchanges has declined as high as 70% in the past 10 days. The trading volume on WazirX, the leading crypto exchange in India, declined from $47.8 million on April 1 to …

Payments giant Mastercard has filed 15 nonfungible token (NFT) and metaverse trademark applications with the United States Patent and Trademark Office, or USPTO. Highlights of the filings include plans for a virtual community for interacting with digital assets, processing of payment cards in the metaverse, an online marketplace for buyers and sellers of downloadable digital goods, virtual reality events and more. One trademark filing for the company's “Priceless” slogan consists of multimedia files such as artwork, text, audio and video, that are authenticated by NFTs. Another application illustrates plans for its red and yellow “Circles” logo in order to process …

Last year, cryptocurrencies reached a “tipping point,” according to Gemini’s 2022 Global State of Crypto report, “evolving from what many considered a niche investment into an established asset class.” According to the report, 41% of crypto owners surveyed globally purchased crypto for the first time in 2021, including more than half of crypto owners in Brazil at 51%, Hong Kong at 51% and India at 54%. The study, based on a survey of 30,000 adults in 20 countries over six continents, also made a strong case that inflation and currency devaluation are powerful drivers of crypto adoption, especially in emerging …

The ongoing conflict in Ukraine has become a stress test for crypto in many tangible ways. Digital assets have emerged as an effective means of directly supporting humanitarian efforts, and the crypto industry, despite enormous pressure, has largely proved itself a mature community — one ready to comply with international policies without compromising the core principles of decentralization. But there is another vital role that crypto has filled during these tragic events: It is becoming more and more familiar to those who have found themselves cut off from the payment systems that had once seemed unfailing. Traditional financial infrastructures don’t …

Chicago-based payment app Strike has integrated with global e-commerce giant Shopify so merchants can accept Bitcoin payments via the Bitcoin Lightning Network. The Lightning Network (LN) is a Layer-2 scaling solution for Bitcoin designed to facilitate faster and cheaper transactions. Strike CEO Jack Mallers revealed the new integration on stage at Miami's Bitcoin 2022 conference today. The move could allow Shopify’s almost two million global merchants to accept Bitcoin payments denominated in USD. However the only merchant partner cited in Strike's official release was Warren Lotas, an LA based streetwear brand — and that site was down at the time …

At the Bitcoin 2022 conference in Miami on Thursday, Cash App announced a new feature for U.S. customers which will allow them to automatically invest a portion of their direct deposit paychecks into Bitcoin (BTC). The mobile payment service run by Jack Dorsey's Block, formerly known as Square, will enable Cash App Visa Cash Card users to opt into this "Paid in Bitcoin" feature at no cost. Cash App’s Bitcoin Product Lead Miles Suter, who made the announcement Thursday, explained that any percentage from 1% to 100% of their direct deposits can be automatically converted into Bitcoin, and adjusted if …

San Francisco-based e-commerce startup Bolt is moving into cryptocurrencies and nonfungible tokens (NFTs) by acquiring fiat-to-crypto and payment infrastructure firm Wyre. According to a joint announcement on Thursday, Bolt has reached definitive agreement to acquire Wyre, aiming to close the deal later in 2022. According to a report by The Wall Street Journal, the acquisition cost Bolt $1.5 billion. Bolt did not directly confirm or deny on the size of the deal to Cointelegraph. Bolt and Wyre are now planning to work together to create new commerce solutions for mainstream, including crypto usage by Bolt’s global merchants, retailers, shoppers and …

Nium, a cross-border payments firm based in Singapore, has announced the launch of a new API-based solution that will allow businesses to start accepting cryptocurrency payments. As per the announcement, the newly launched product is called Crypto Accept. It allows online sellers to accept Bitcoin (BTC) and Ethereum (ETH) before expanding to other digital assets in 2023. Payments are sent to internet merchants' accounts in U.S. dollars or other fiat currencies the next business day, allowing vendors to expand their market and enhance their online payment experiences while avoiding price volatility. Nium partnered with crypto payments processor BitPay to launch …

The Swedish central bank’s digital currency project, a proposed CBDC known as the e-krona, has successfully finished its second phase of trials. According to Riksbank, the nation's central bank, the asset is now technically ready to be integrated into banking networks and to facilitate transactions. During the second phase of the e-krona pilot project — which began in February 2021 — the CBDC was investigated on the matter of its technical ability to function within the country’s existing digital banking infrastructure. Participating banks included Handelsbanken and Tietoevry. The report indicated that the e-krona could indeed be successfully exchanged for fiat …

Remittance payments are at an all-time high due to the COVID-19 pandemic. To paint the picture, Mexico’s payments alone have amounted to more than $50 billion, surpassing all other sources of foreign income. This value represents only a subset of the estimated $540 billion reported in 2021. While remittances are essential to ensure families back home are supported, the process favors the intermediary over the sender, with high fees of up to 6-7%. These fees represent a detrimental percentage, especially when considering that remittances are often a critical lifeline for those in need. Reducing these fees then comes down to …