Josh Andrews

MasterCard Warms Up to Crypto Credit and Debit Cards

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The world of crypto is inching closer and closer to mainstream adoption as more of the world’s largest institutions continue to ramp up efforts to be part of the revolution. Mastercard, one of the world’s leading payment services providers, is the most recent organization that is making a big play for crypto.

Recently, the company has revealed its plans to make it easier for its users to use digital currencies. Both customers and merchants with Mastercards will have the opportunity to use debit and credit cards with crypto capabilities. In addition to that, the customers will also have the chance to buy, sell and hold some of the digital currencies. For this group of users, Mastercard is also preparing to launch branded crypto cards.

Partnership With Bakkt

Crypto markets around the globe have grown immensely over the years. While it is certainly not too later for new players to enter the market, success usually depends on having the right partners. Mastercard’s venture into the crypto market is happening via a recently-announced partnership with Bakkt, a digital asset platform popular among crypto users.

As per the terms of the agreement, Bakkt will be working behind the scenes as a provider of custodial service for those who sign for Mastercard’s crypto offering. The crypto firm’s custodial wallets are what will make it possible for users to trade and hold crypto.

“Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options but also deliver differentiated and relevant consumer experiences.”
Sherri Haymond, executive vice president of digital partnerships at Mastercard.

In a sense, this is a major extension of a previous announcement Mastercard made regarding allowing crypto transactions via its network. That promise is shaping up quite nicely.

The Implications

Mastercard’s announcement represents a unique opportunity for cryptocurrency expansion in the United States as well as other parts of the world. To begin with, sectors such as online casinos and gaming that rely on crypto will likely have more ways of using digital currencies. Increased interest in crypto is also impacting the interested companies in rather unexpected ways.

For instance, MasterCard stock went up just 0.4% following the announcement. That is modest but it proves that there is interest in the crypto sector. Shares of Bakkt, on the other hand, skyrocketed more than 86% after the announcement. That lifted the company’s market capitalization to about a whopping $850 million.

Cashio Unveils Semi-Decentralized Blockchain Casino

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The world of crypto betting just got yet another boost thanks to a recent addition. Cashio, a new entrant into the sector, is making quite the debut by launching a semi-decentralized casino. This will not only offer customers a way of enjoying their favorite casino games but also give them the opportunity to profit via Cashio token.

A Revolutionary Gambling Offering

The gambling operator has recently detailed its plans for a revolutionary casino experience. As it stands, the company is developing some special decentralized games that will alter the casino as we know. Still, the target audience for this amazing product is mostly people who gamble crypto. That is already a pretty huge number.

According to the company, the goal is to integrate the gambling and NFT industries in a manner that allows investors to get a piece of the casino revenue. That is, of course, when the token price eventually rises to increased demand. Cashio has further committed to distributing the retained profits to the token holders. It will also be accumulating a massive amount into its Jackpot contract.

How It Works

Cashio’s Jackpot contract will gather BNB from the Casino earnings and from every buy/sell fees. It will then be deployed as a Lotto game. This Jackpot amount will then first be bought as Cashio Tokens thus boosting the price to the limits. As a result, the winner will receive their loot and the increase in the token’s value will reward Cashio Token holders in the process.

The operator will also be adding a 3-tier system where the rewards will be distributed to the token’s investors accordingly to their Holdings. This reward pool relies on Casino earnings and Cashio Token transactions. All the investors will not only be able to claim their rewards but also track all the useful information on the site’s Earnings Dashboard. More detail on this aspect is available on the operator’s whitepaper.

Is It Viable?

Well, the crypto and gambling spaces are always filled with new and interesting innovations. A good number of them are thriving or are at least headed there. Some do not make it due to several factors. As for Cashio, it is early on in its growth and it is hard to foreshadow where it will be a year or so from now.

Still, the casino operator has some solid ideas that could take off especially if crypto gamblers get on board. The innovative features will certainly make online gambling even more exciting than it already is.

BC.GAME Receives Gaming License from Curacao

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As the world of crypto and gambling continues to come together, several companies are beginning to reap the fruits of it. This is one of the fastest-growing sectors making it a key target for several businesses. Lots are succeeding. Recently, BC.GAME which is one of the fast-rising operators in the world of crypto-powered gaming has been all the buzz.

The company’s ambitious plans to extend its footprint are well on the course thanks to a recent development. It officially received a gaming license from the Curacao Interactive Licensing N.V. That makes it an officially regulated online casino and is a huge milestone for the company as it pursues full compliance.

This is a very big deal. The company has even gone as far as publishing its new license to the Interplanetary File System (IFPS). This platform allows for the storage of files securely in a blockchain in a manner that allows ownership to be easily proven through a private key. It also means that the file cannot be tampered with or even used for unintended purposes.

Speaking on the new development, BG.GAME COO Chris Butler noted the company’s new status as a regulated iGaming operator opens doors for opportunities. For instance, the operator will now be able to offer thousands of third-party games from leading game developers across the globe. In addition to that, the license also creates room for further ventures. A sportsbook and a live dealer casino offering seem to top the list.

Huge Win for Crypto Gambling

As much as crypto-powered online gambling has grown over the years, it still has a long way to go. The BG.GAME development acts as a beacon of sorts that will likely kick off more growth. It is very difficult for crypto-only casinos to obtain gambling licenses but this is changing. Now that the company has proven that it can be done, many more will probably follow.

BG.GAME currently supports deposits and withdrawals using over 50 different cryptocurrencies which is very impressive. Even the casino businesses that have been around for decades have not been able to pull that off. Understandably, the crypto gambling scene is still picking up pace. We just must appreciate the small wins and acknowledge their role in pushing the whole industry forward.

It is also worth noting that this goes well beyond gambling. A license essentially affirms the legitimacy of crypto use. This should also be a decent way of showing more people that many existing digital currencies are viable and ready for mainstream use.

There Are Now Over 221 Million Crypto Users

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According to a recent report published by Crypto.com, a renowned crypto and bitcoin publisher, the number of cryptocurrency users rose to a whopping 221 million in June 2021. In the ‘Measuring global crypto users: A study to measure market size using on-chain metrics, July 2021’ report, 2021 has been a very good year for the sector. January, February, and April particularly proved to be monumental to the growth. Bitcoin’s bear run had something to do with this but that is just a small piece of the puzzle.

“Bitcoin led growth from January to April, as heavyweight institutions like PayPal, Microstrategy, Visa, and Mastercard announced plans to support crypto. Similarly, Ethereum saw significant growth in May and June as institutional investors continued to favor the token,” reads a section of the report.

Crypto.com leveraged data from some of the world’s top crypto platforms for this study. These include popular names like Binance, Kraken, Bitfinex, BitMEX, Deribit, Liquid, BitFlyer, and even Crypto.com itself. Of the 221 million crypto users, about half were Bitcoin owners. Ethereum, another popular digital currency, also showed its might with about 10 percent of that market share.

While the number of crypto users is certainly very impressive now, even more growth is on the way. 2021 has been quite the year for crypto. The accelerated growth is set to be catalyzed by other developments such as some governments accepting crypto as legal tender.

Is It Time to Invest?

Lots of people have still held out on buying into crypto. The volatility of the space is still a big problem. 2021 has been kinder to cryptocurrencies than other years. There were of course a few low moments for the sector. For many of the hold-outs who missed out on the previous crypto investing frenzies, this might be a very tempting opportunity to go all in.

However, as good as things seem to be, there is no guarantee that we’ll see any more record-breaking highs. This is especially true for 2021. That said, if you are interested in crypto you might need to evaluate why exactly you are buying into it. Crypto is still a very risky investment and this should guide your decisions.

It is possible to find ways to minimize or limit your risk. Still, you need to understand what it is that you are getting yourself into. Ideally, investing in crypto should be more like a long-term investment. With that, it is possible to reap the full benefits of the sector once crypto succeeds.

Formula 1 Enlists Crypto.com as Sprint Series Sponsor

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On Tuesday, June 29, Formula made a grand announcement that it has enlisted Crypto.com to be its inaugural partner for the new Sprint series for 2021. This is not the first partnership between crypto businesses and non-crypto entities. However, it is a very big deal especially considering all the things that it promises with regards to the growth of digital currencies in the mainstream.

Already Crypto.com has amassed a customer base consisting of over 10 million users across the globe. This makes it a valuable partner for Formula 1 and the two can certainly learn and gain a lot from each other.

Fostering Performance and Innovation

As per the terms of the five-year partnership agreement which is projected to be worth over $100 million, Crypto.com will now enjoy brand presence across all F1 events. As mentioned earlier, this will begin with the Sprint qualifying format where Crypto.com will have trackside slots. The first of these will be the British Grand Prix that will go down at Silverstone on July 17.

Speaking on the new development, Formula 1 President and CEO Stefano Domenicali said that the partnership deal was part of the wider plans to “attract progressive global brands anchored in performance and innovation.” Fans can therefore not only look forward to an exciting new format but also new products. Crypto.com’s commitment to becoming carbon negative also aligns quite well with Formula 1’s sustainability goals which makes the partnership even more promising.

Bringing Cryptos and NFTs to Formula 1

It would be hard to talk about this partnership without mentioning what it means for the crypto industry. Formula 1 is already one of the most prestigious and most popular sporting series on the planet. This makes it a great way to push crypto to the mainstream even further.

In addition to being Formula 1’s Cryptocurrency Sponsor, Crypto.com will also be its official NFT partner. The goal is to democratize the world of crypto for Formula 1 fans through unmatched experiences and education.

“We look forward to many years of innovating together and will begin at the Belgian Grand Prix, where we will present a brand-new award. We are also excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways,” Kris Marszalek, co-founder, and CEO of Crypto.com commented.

It is an exciting time for the world of crypto thanks to all these developments. With more and more businesses beginning to take crypto seriously, we should expect to see even more partnerships and sponsorships in the future.

Renowned Crypto Casino Rollbit Launches Trading Features

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The evolution of the crypto ecosystem continues and now we are not just witnessing the entry of new players but also significant transitions and shifts made by existing members. Rollbit, a renowned crypto casino is one of the latest companies to extend its footprint in the world of crypto.

This move was long overdue as the company’s decisions were already hinting at the possibility of such a shift. It all began on May 10th, 2021 when the operator began to offer its users the opportunity to bet on the price of Bitcoin and Ethereum which are arguably two of the most important digital currencies right now. The platform later went on to add Litecoin and Dogecoin to the mix thus bringing together the most popular digital currencies in a manner that has barely been done before especially by a company of its kind.

By so doing, the operator has been able to establish itself as a leading platform in the crypto space. It is not stopping there though. Now, its next venture involved offering its users a way of enjoying trading digital currencies without having to deal with all of the complexities that are often associated with other crypto trading platforms.

“We’re very excited to offer crypto trading on Rollbit. Our goal was to eliminate the complex nature of trading on traditional crypto exchanges, and the team has certainly done an excellent job. With crypto being extremely popular right now, we couldn’t think of a better time to launch this. Not only are we the first crypto casino to offer crypto trading, but users can also be rewarded for trading on Rollbit as all profit and loss contributes to our lucrative rewards program,” Razer, Rollbit’s co-founder commented on the decision.

It seems this is just the beginning of a totally new segment in the world of crypto casinos.

Market-Leading Features

Rollbit came to the limelight with the launch of X-Roulette, an innovative and provably fair game that has been making waves since February 2020. Just like it did with the game, the platform has entered the crypto-trading space with just as many great and innovative features including:

Zero-Fee trading
Automatic cashout
Up to x1000 leverage
A focus on community
Additional benefits like cashbacks, bonuses, and rakebacks carried over from the casino

As if that is not enough, the platform’s management has promised that they have no intention to stop delivering innovative products and experiences to their growing customer bases. It only gets better from here and we cannot wait to see the direction that the entire crypto sector will take going forward.

Are NFTs Headed to Gaming?

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Cryptocurrencies are perhaps one of the most notable developments of the past decade or so and they continue to spawn even more innovations. Now, one of the most talked-about aspects of the crypto landscape is non-fungible tokens otherwise known as NFTs.

What Are NFTs?

As it is with several aspects of the crypto industry, NFTs are still not understood by everyone which is totally understandable. They are simply collectible digital assets that hold value as a form of cryptocurrency and as a form of art or culture. The reason why they are such a big deal is that they are a way to create both scarcity and uniqueness to digital art. You can also think of it as a new vessel of distribution and ownership for an already rather experimental medium.

How This Relates to Online Casinos

Well, if history is anything to go by, the casino industry is likely to pick up on this new buzz much like did with other emerging technologies. Today, bettors can leverage some of the latest technologies on their gambling platforms of choice. These include things like digital currencies, live betting, and even other arguably niche technologies like Augmented Reality (AR) and Virtual Reality (VR).

Now, if we consider the massive popularity of NFT, it is almost guaranteed that a massive push for its adoption in the online gaming world will be a reality soon. The rise of such activities like eSports also serves to prove the potential of the new technology as a way to take online gambling and gaming to the next level.

In many ways, the NFT blockchain network, online gaming, and the online casino industry seem to be built in such a way that they complement each other. Some companies have already begun investing in that future and they are already projecting some pretty impressive returns from that.

Should You Jump In?

People are already trading NFTs which sort of gives it a start that is much like the launch of digital currencies in the early 2010s. However, the phenomenon is still marred in quite a bit of skepticism just in the same way that digital currencies were in the beginning. All things considered, jumping in at this very moment is mainly a question of how much faith you have in what is arguably the future of gambling, art, and entertainment.

There is still a long way to go and a lot to learn before everything falls to place as projected but there are lots of people who are more than happy to be a part of that journey. Are you one of them?

PayPal’s Crypto Checkout Service Goes Live

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Last October, global payments service provider PayPal announced that it was working on rolling out a “Checkout with Crypto” feature on its platform. This, as expected, was met with a lot of enthusiasm and excitement especially because of what it meant for the crypto sector. Crypto was already well on its way to mainstream adoption and this would certainly be a huge leap forward.

On March 31, 2021, the company finally rolled out the feature. Now its customers in the United States can use the digital currencies they hold to pay at millions of PayPal’s online merchants across the globe. The ability to use crypto in their PayPal wallets is made possible by the company’s robust system which will be responsible for converting the crypto holdings to fiat currency – this is the only way that the transactions will be completed.

Still, it is a pretty impressive development. Not only does it make using crypto particularly easy even for newbies but it also builds on the crypto trading features that the company has been adding to its platform. According to PayPal President and CEO Dan Schulman, the timing is just right for this.

“We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants,” he commented.

Global Roll Out Coming Soon

The United States is just the beginning for PayPal’s new feature. In addition to giving the company a view of what to expect going forward, the move to begin the rollout in the United States will serve as a launchpad for further expansion in other parts of the world. A gradual rollout of the “Checkout with Crypto” feature is set to follow very soon with the company looking to bring it to over 200 countries where it is currently operating in.

PayPal is not the first company to double down on its efforts to tap into the crypto ecosystem – companies like Tesla and Square have already been making the headlines with similar ventures. However, the payments service provider is taking a unique approach. One of its main priorities will be dealing with the volatility that Bitcoin and other digital currencies are known for. This is why it converts the crypto to fiat before completing the transactions.

It is also worth noting that there will be no service fees for the feature which is quite good to see since it lives up to one of the promises of crypto. Also, only one type of cryptocurrency will be used for each transaction, at least for now.

More Institutional Support Coming to Bitcoin

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Bitcoin continues to be the headliner of the crypto industry something that is not too surprising if its recent price surges are anything to go by. The resilience of the sector is perhaps one of its most notable features and it seems more people are finally taking note. That said, it would seem that the dream of mainstream adoption is about to get a major boost going forward.

For a long time, institutional support for crypto seemed to be nothing more than a far-fetched idea. The digital currency’s proponents, however, did not lose hope in that idea.

Governments Soften Their Stance

For the most part, several governments and dozens of central banks have not been very friendly to Bitcoin and other digital currencies. This is no longer the case in some places, especially in the United States. For instance, dozens of local municipalities across the country are already mulling over putting their city treasury into bitcoin.

Admittedly, this can be attributed to the younger generation of leaders who are way more crypto-friendly compared to their older counterparts. Their stance when it comes to Bitcoin and crypto, in general, is a great launchpad for wider adoption and serves as a pretty neat policy experimentation. It all boils down to time – all is needed is for more crypto-friendly and forward-thinking politicians and regulators to climb up the leadership ranks.

The idea of decentralization which is part of bitcoin’s identity has long been debated but experimentation has shown the potential of such a move. More localities could soon start adopting Bitcoin and legislators could also start accepting bitcoin contributions.

More Corporate Backing

Publicly traded companies have also joined the bandwagon. Several corporate treasuries are buying lots of bitcoin and this is expected to nudge even more publicly traded companies to do the same even if their lines of business do not directly relate to bitcoin.

Back in 2017, the retail investors were at the helm of the bitcoin revolution and now that they have done their part, it is time to pass on the baton. The current surge in bitcoin’s growth is now likely to be driven by family offices as well as high net-worth individuals many of whom have had to sideline their ideological convictions of bitcoin.

All things considered, the inevitability of the rise of crypto is becoming clearer by the day. Even central banks are likely not to have much of a say when it comes to the direction that the industry heads to – it will grow bigger with or without their approval.

Visa Doubles Down on Its Plans for Crypto

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The crypto market has certainly come a long way since the first digital currency was launched and it is now more mature than ever before. Lots of things have changed and perhaps the most exciting development is the widespread interest that major financial and payment institutions have shown.

Global financial and payment service provide Visa is one of the most notable companies that are making a huge play for the crypto market. Already the company has ties with some popular crypto platforms such as Fold, BlockFi, and Crypto.com. However, according to Visa CEO Alfred Kelly, there is so much more in the pipeline.

Crypto Could Be Coming to Visa’s Payment Network

Last Thursday during the company’s Q1 earnings call, the chairman ad CEO reaffirmed Visa’s commitment to crypto which is likely to culminate in digital currencies directly on the Visa network. Kelly firmly believes that the company is well-positioned to add “differentiated value to the ecosystem.” This will essentially involve making crypto safe, useful, and more applicable for global payments.

“..it goes without saying, to the extent a specific digital currency becomes a recognized means of exchange, there’s no reason why we cannot add it to our network, which already supports over 160 currencies today.”
Visa chairman and CEO Alfred Kelly

The strategy is firmly anchored on working with wallets and exchanges to allow users to purchase crypto using their Visa credentials. Similarly, it will also mean that users can cash out their crypto onto Visa credentials.

The Favorites

Well, even though Visa has previously claimed that it does not want to play favorites when it comes to the digital currencies that it will allow on its network, the recent announcement seems to be pointing at something quite different. The company seems to be handling the cryptocurrencies differently based on which category they fall on.

The two categories that the company is using to group blockchain assets are based on whether they are a store of value or are stable coins. Visa intends to angle crypto assets that serve as a store-of-value such as Bitcoin to serve as fiat on-ramp.

However, when it comes to stable coins, the company has been rather bullish. These sentiments may be quite disappointing since they seem to overlook all of the amazing milestones that Decentralized Finance (DeFi) made in 2020. Even JP Morgan Chase which has been showing interest in digital assets has shared the same sentiments.