Crypto Adoption

As recently recorded, Asset Managers and financial institutions currently hold approximately 6% of the total supply of BTC. As analysts speculate, 21M BTC will circle the finance world by 2140. 18M are presently in circulation. On May 22, 2010, slightly over a year after bitcoin had been coded into existence, Florida man Lazslo Hanyecz officially became the first person to use the digital currency in a commercial transaction. Hanyecz paid for a couple of pizzas worth about $30, with 10,000…

The world is replete with cases of governments frustrating crypto usage or adoption. Could you ask anyone about the most crypto-suppressive nations? The chances are that they'll mention China besides other planned economies. Moreover, the crypto stances of many western governments have yet to be encouraging. Countries like America haven't cracked down on digital assets. On the contrary, they've shown open skepticism for them. However, though they've shown support, it has always been half-hearted. It's driven more by their reluctant…

Brian Armstrong, the co-founder, and CEO of Coinbase, made a stunning announcement recently. The platform intends to buy around $500 million worth of cryptos, according to a tweet.  The news follows a go-ahead by the platform's board, according to the CEO's tweet. Coinbase will make the purchases on its balance sheet to shore up its holdings. Part of a Bigger Plan The purchase is quite possibly the tip of the iceberg. According to the same tweet, Coinbase will commit 10%…

Disruptive technology is the type of tech that radically changes the way consumers, businesses, and entire industries operate. Blockchain technology is one of the most disruptive technologies of the 21st century. It has completely revolutionized banking by eliminating 3rd party intermediaries like banks and money transfer firms with its peer-to-peer transaction support. No one would have thought of a day when banks aren't needed in the financial world. Consequently, customers have taken note, with adoption rates rapidly picking up. Yet…

The recent rise in fraud, money laundering, and tax evasion cases has led financial institutions to focus on how they can apply underlying controls on their counterparts. Regulators worldwide have developed an interest in the frenzy and are continuously developing regulatory moves targeting market actors.  The aim is to ensure financial institutions align with the current security practices and measures like Know Your Customer (KYC). Several exchanges have employed their compliance to meet measures that have been set while others…

On June 14, 2021, President Samia Suluhu urged financial chiefs and the country to brace themselves for crypto adoption. Speaking in Mwanza Tanzania, she pointed out that the country currently in an era of blockchains and digital assets. The president further advised central banks to consider making preparations and developments that would support cryptocurrencies as the future of finance. These bullish remarks come months after she became the new president of Tanzania. While the crypto adoption pace may be slower…

Digital currency is wildly seeking after mainstream status, and doubtlessly, the tenacious fall of crypto costs is antagonistically adding to its goals. Nonetheless, there is a whole other world to acknowledge formal reception rather than crypto’s undeniable prices. The primary use of cryptocurrency isn’t for the store of value that is broadly becoming a trend. Instead, cryptocurrencies are an advanced type of cash; consequently, their essential use case lies in facilitating exchanges. Crypto’s dominant selling point is its quick exchanges,…

Bitcoin (BTC) has emerged as a real monetary revolution that is poised to solve many issues plaguing the current financial system, including inflation and market uncertainty.  As the world's leading digital asset continues to mature and establish itself as a widely accepted store of value, more investors are entering the Bitcoin market.  As shown in the chart below by Blockchain.com, the number of unique addresses on the BTC network is on the rise as new investors accumulate coins as part…

Wirex announced a partnership with Mastercard taking place in record books as the first crypto native platform to receive principal membership from Mastercard, enabling them to issue payment cards to users. The trading platform expressed in their tweet the possibilities that this collaboration has opened doors to. It has been vigilant to facilitate mainstream adoption as the ultimate payment solution for users worldwide. They further mentioned it as a gateway to exploring new spaces in cryptocurrencies and Fintech. Overview of the…