Quick weekly news:
- The chief of Canada’s central bank has said its national “digital dollar” initiative is progressing past the experimental phase.
- Investors are rattled by the latest COVID-19 prognostications, with bitcoin’s price rally possibly on pause.
- An Algorand-based micro equity exchange has launched a token tracking top tech stocks including Microsoft, Apple, Tesla, Twitter, Amazon, Netflix and Google.
Other notable events include:
- Coinbase’s debit card is coming to U.S. consumers sometime next year.
- JPM Coin, the enterprise-minded digital asset stewarded by the titular global bank, will see its first transaction this week, a JPMorgan executive said.
Also, be sure to check out top altcoin gainers and losers of the week
Coinbase card
Coinbase’s debit card is coming to U.S. consumers sometime next year. Active for nearly a year in the U.K. and European Union, the card will become available in all U.S. states except Hawaii. Any cryptocurrencies that Coinbase supports in the U.S. (and that users hold in their accounts) can be spent through the debit card – with rewards paid in lumens or bitcoin. The card is issued by South Dakota-based MetaBank and powered by payments platform Marqeta, though users will manage it directly through their Coinbase accounts, according to CoinDesk banking whisperer Nathan DiCamillo.
JPM Coin
JPM Coin, the enterprise-minded digital asset stewarded by the titular global bank, will see its first transaction this week, a JPMorgan executive said. Designed for wholesale payments and faster transactions, the system is predicted to save the banking industry hundreds of millions of dollars a year. First revealed in February 2019, JPM Coin will run on Quorum, a private version of Ethereum developed by the bank but acquired by development firm ConsenSys in August. Further, the executive told CNBC the bank has created a business unit with around 100 employees called Onyx to house related projects. “We believe we are shifting to a period of commercialization of those technologies, moving from research and development to something that can become a real business,” the executive said.
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