Blockchain
Wirex Becomes Principal Member of Visa Network in Europe
Leading payments platform, Wirex, has become a principal member of Visa in Europe, a highly respected achievement for the London-based business with ambitious plans for 2021.
Having successfully completed Visa’s FinTech Fast Track Programme, Wirex have secured the sought after principal membership from the global payments company. Principal membership will allow Wirex to issue Visa cards themselves, offer new innovative products, and apply for additional licences.
The announcement comes at a pivotal time for the digital economy, with Bitcoin recently hitting its all time high1 and a series of large industry players recently showing support for cryptocurrency.
Wirex already offers their services to over 3 million people across the EEA and APAC regions, and research shows the use of crypto is continuing to grow2. Wirex themselves have experienced a 271% increase in the number of crypto exchanges on their platform compared to this time last year.3
“Digital currencies have the potential to extend the value of digital payments to a greater number of people and places,” said Cuy Sheffield, Senior Director and Head of Cryptocurrency, Visa. “We’re excited to work with innovative Fintechs like Wirex and enable their customers to use digital currencies at more than 61 million merchants on the Visa network.”
Pavel Matveev, CEO and Co-Founder of Wirex, said that: “It’s been our core goal to unite the traditional and digital economies, and collaborations with trusted global payments companies such as Visa are making this possible by providing straight and cost-effective solutions for utilising crypto in the everyday. It’s no easy feat to achieve principal membership and will present numerous opportunities to continue developing a revolutionary product.”
Wirex have had a long-standing partnership with Visa, having worked together to ensure Wirex was the first company in the world to issue a contactless crypto-enabled debit card in 20144. The card enables customers to seamlessly spend up to 20 traditional and cryptocurrencies at over 61 million locations globally. Linked up to a next-generation app where they can be bought, held, exchanged or sold, the company was also the first to develop a cryptocurrency rewards scheme, Cryptoback™, that rewards users up to 1.5% in Bitcoin for any purchases made with their debit card.
After a record-breaking crowdfunding campaign in October that raised nearly $5 million (US), the announcement rounds off a hugely successful year for the SBI group-backed company. With an overhaul of their rewards programme and launch in the US imminent, it’s thought that 2021 will be an even more extraordinary year for Wirex.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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