The Last Fortnight in Crypto - October (Part 2)
LATEST NEWS
Mastercard Taps Paxos to Launch Crypto Trading for Banks
Banks will soon be equipped to offer clients crypto trading and custody thanks to a new program called “Crypto Source” from Mastercard and Paxos Trust Company. As part of the program, Mastercard will cover some of the compliance, security and interface details while Paxos handles crypto custody and trading. Expected in the final quarter of 2022, the Crypto Source program will essentially provide the underpinning that will let banks offer crypto trading and custody to their clients.
Former Twitter CEO Jack Dorsey Unveils Decentralised Social
Under the supervision of former Twitter CEO Jack Dorsey, a new social media platform called “Bluesky Social” has entered its private beta phase after years of anticipation. Underpinning the platform is a protocol known as the Authenticated Transfer Protocol (formerly named ADX). The protocol essentially removes the walls around user data, letting users move their accounts from platform to platform rather than having their profiles and information locked on a single platform.
Not like China: Hong Kong Wants to Legalise Crypto Trading
Although a special administrative region of China, Hong Kong is reportedly looking to ease its crypto regulations to favour the industry. China has taken regulatory steps to discourage crypto industry activity in the past. Crypto trading in Hong Kong itself is largely limited to professional investors, thanks to Hong Kong’s Securities and Futures Commission (SFC). However, the SFC is now taking steps to allow retail crypto trading, as well as other crypto-friendly pursuits.
Google Taps Coinbase to Bring Crypto Payments to Cloud Services
Starting in early 2023, Coinbase’s payment service, Coinbase Commerce, will facilitate crypto payments for customers purchasing Google’s cloud services thanks to a deal between the two companies. Google will only allow certain crypto assets for payment, including Bitcoin. Initially limited to certain participants, the option to pay with crypto will eventually be expanded to other customers, an executive at Google Cloud told CNBC. Google Cloud has taken several other steps toward crypto and blockchain industry involvement in 2022.