eBay is preparing to launch its support for cryptocurrencies and ‘’ digital collectibles’’ as the promotional adverts in New York say. The coming altcoin news today will show you some more information about this great news.
Consensus conference in New York is full with banners that suggest eBay will likely enter the crypto world which will lead to a mainstream breakthrough. The images first reached the Telegram channel @PatronsOfTheMoon but there is still no confirmation from eBay itself. If the ads are legitimate, this means that cryptocurrencies could get up to 180 million active buyers.
The online marketplace giant may also be looking into the digital collectibles market which was initially made famous by Cryptokitties in 2017. The potential of the digital collectibles was powered by Ethereum which was the first time a platform offered truly unique digital assets. eBay is considered as a hub for collectible items and auctions which makes it the perfect mainstream platform for the future of digital collectibles.
While there is still no official statement on the decision, eBay has been linked to Bitcoin payments as it was reported in the best cryptocurrency news sites, with the BTC payment gateway UTRUST. The gateway hired former PayPal and eBay executive Sanja Kon as the new VP of Global Partnership in early 2018. This hints another strong partnership between eBay and UTRUST in the near future. UTRUST pointed out:
“Sanja’s experience at PayPal and eBay makes her the perfect person to help UTRUST drive merchant adoption of our crypto-payments platform… We anticipate that she will be a key driver in elevating UTRUST’s brand in the crypto-commerce space and ultimately the future of online payments industry.”
The e-commerce giant has been considering crypto payments since the end of 2017. The senior vice president of eBay Americas Scott Cutler pointed out at that time that the company is ‘’seriously considering’’ adopting bitcoin payments. Cutler said:
EBAY IS “SERIOUSLY CONSIDERING” CRYPTO PAYMENTS
“This is a trend that everybody is talking about, but sadly, at eBay, we don’t currently accept bitcoin as a form of payment. We’re seriously considering it as these cryptocurrencies become more of a mainstream” payment instrument, but we’re not quite there yet.”
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“Currently, you can invest in seven cryptocurrencies on Robinhood Crypto: Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, and Dogecoin. You can also track price movements and news for those and 10 additional cryptocurrencies.”Crypto enthusiast has avoided going to New York because the state has a very stringent regulations system for the crypto sector. For some, BitLicense is a classic move of regulation-before-innovation which is a law that creates an unnecessary burden for small startups by making them go through expensive procedures. For example, there is a $5,000 fee to NYDFs with no approval guarantee as well as the $45,000 worth of legal paperwork as it was revealed by one of the BitLicense applicants Coinsettler Jaron Lukasiewicz in 2015. Costs like these have influenced many New York startups to find a place with a friendlier crypto climate such as California or even European countries such as Switzerland. At the same time, crypto startups that managed to build a financial foundation for themselves, now are trying to find a comfortable place while entering New York. As mentioned in the altcoin news previously, Robinhood is the 10th company in a period of four years that received a BitLicense. According to the vice president of product Josh Elman, this decision to go into Wall Street is ‘’a crucial next step.’’:
“We’ve introduced millions of people to equity investing on Robinhood, and want to do the same for everyone interested in crypto.”The Fintech startup now has six million users around the US and by entering New York Robinhood plans to add a few million more. Their networth reached $5.6 billion after the last funding round that closed in March 2018. In the meantime, Robinhood managed to raise about $539 million capital so far.
Samsung Pay Gets Ready For Crypto Integration: Report
“Samsung Electronics appears to be moving to integrate cryptocurrencies to Samsung Pay, which accounts for 80 percent of the South Korean simple payment market. The company has recently transferred the blockchain task force (TF) of the mobile business division to the service business division.’’Previously in 2018, the Korea Herald reported that Samsung Pay made a 58 percent increase in its users base. The industry tracker WiseApp found that the platform was mostly used as a financial application in late 2018 where more than 10.4 million users got their hands on it. In 2017, the platform had about 6.6 million users which make an incredible step forward for Samsung. The 10 million users represent the 20 percent of the entire South Korean population and the platform has also thousands of users around the world that use the application because of its technology called magnetic secure transmission. This technology enables users to transact at a conventional point of sale terminals. Now, the strategy of Samsung Pay is to make sure that a niche market is secured and will expand its user base even further. Samsung already integrated a crypto wallet-the Samsung Blockchain Wallet back in February along with its Samsung S10 device which allows users to send, receive and hold cryptocurrencies in the built-in wallet. The South Korean altcoin news outlet Donga noted:
‘’Samsung Pay has recently extended the transaction period for overseas users and integrated an international payment processing service, aggressively targeting the global financial services market.’’With reports suggesting that the tech giant is considering the possibility of launching a blockchain network, it is expected that Samsung will continue to march forward to target the rapidly growing sector. Under the leadership of the current vice president of the business division Kim Yong-Jae, the blockchain task force at Samsung has started new other crypto projects.
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