#CryptoCorner: Binance to Open US Division, Companies Form Governing Consortium with Investment in Facebook’s (NASDAQ: $FB) GlobalCoin
Stocks discussed: (NYSE:$ V) (NYSE: $MA) (Nasdaq: $PYPL) (NYSE: $UBER) (Nasdaq: $FB) (OTC: $CLCI) (Nasdaq: $AMZN)
Point Roberts WA, Delta BC June 14, 2019 - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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Stocks discussed: (NYSE:V) (NYSE:MA) (Nasdaq:PYPL) (NYSE:UBER) (Nasdaq:FB) (OTC:CLCI) (Nasdaq:AMZN)
Crypto exchange giant Binance is expanding to the U.S. with the opening of a new division, according to a report from Cointelegraph yesterday. Binance US will be operated by BAM Trading Services, the company’s Financial Crimes Enforcement Network (FinCEN) approved partner. Binance CEO Changpeng Zhao commented:
“We are excited to finally launch Binance US and bring the security, speed, and liquidity of Binance.com to North America. Binance US will be led by our local partner BAM and will serve the U.S. market in full regulatory compliance.”
CoinDesk reports that, according to an article published by the Wall Street Journal, Visa (NYSE:V), Mastercard (NYSE:MA), PayPal (NasdaqGS:PYPL) and Uber (NYSE:UBER) are all backing Facebook’s (NasdaqGS:FB) planned cryptocurrency. The more than a dozen total backers will form a governing consortium for Facebook’s GlobalCoin, and will make an investment to the tune of about $10 million USD. GlobalCoin, which is reportedly designed as a stablecoin, is expected to be officially unveiled on June 18.
Fintech and blockchain company CLIC Technology (OTC:CLCI) has partnered with blockchain infrastructure provider and B2B platform Opporty to develop a browser extension that will allow users to make purchases on Amazon.com (NasdaqGS:AMZN) using Ethereum (ETH). CLIC Technology CEO Roman Bond said:
"Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries. We're excited to be working on this project with Opporty, and to move forward on a number of other ambitious projects with them as well."
Payments firm Circle has announced the discontinuation of its payments app Circle Pay to focus on its crypto financial services. As of July 8, users will no longer be able to buy or send cryptocurrencies through the app. On July 31, funds will be returned to customers linked bank accounts or credit cards. The blog post explains:
With the creation of fiat tokens and stablecoins such as USD Coin (USDC), people can seamlessly transfer fiat value over blockchains without the risk of cryptocurrency volatility, making peer-to-peer payments instant, global, secure, and free, significantly advancing our original vision and providing more global seamless opportunity for people around the world. As such, we believe that it is appropriate to retire Circle Pay at this time.
Sam Mowers, Investorideas
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