Category - FinTech

Coinbase: direct salary payment in cryptocurrency possible in the U.S.

Coinbase is launching a program for direct deposit of paychecks into cryptocurrencies. PayPal and Robinhood already offer this service in the US.

Coinbase will soon allow U.S. companies to deposit their employees’ paychecks directly into accounts at the crypto exchange. In a blog post Monday, Coinbase Senior Director of Product Prakash Hariramani announced the option. This will allow employees to use their paychecks to purchase cryptocurrencies without transaction fees. For their part, companies can set up direct deposits through a supported payroll company in the Coinbase app or through a company’s human resources department.

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China says a “completely anonymous” digital yuan is “not feasible”

The country pioneered state-backed digital currencies and plans to launch the digital yuan before the 2022 Winter Olympics.

The Chinese government wants to maximize privacy options in the upcoming digital yuan, the state’s native “Central Bank Digital Currency” (CBDC), a report said Monday (and China is getting bullish on Bitcoin).

Officially called Digital Currency, Electronic Payment (DCEP), the Chinese digital currency is backed 1:1 by the yuan and is on track to become the world’s first government-backed stablecoin.

Current products on the market, such as Tether and others, are operated by private companies and are unregulated. In most cases, Bitcoin (go to Plus500 Buy Bitcoin Guide) is unregulated and trustless.

Last weekend, Mu Changchun, head of the People’s Bank of China’s Digital Currencies Research Institute, said that so-called “controllable anonymity” was an important feature in the design of the e-yuan.

However, he added that complete anonymity – as offered by private cryptocurrencies such as Dash and Monero – was “not feasible” because CBDCs would have different reporting standards.

According to Changchun, large transactions would be monitored and tracked to prevent illegal transfers from the country and maintain financial security. Also, complete anonymity would thwart the use of DCEP, i.e., money laundering, terrorist financing, and tax evasion.

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Apple’s electric car

After negotiations with Hyundai, Kia or Nissan are said to have failed. Apple is now considering hiring Foxconn or Magna, according to a report.

Apple has apparently still not found a manufacturer for its first electric car. Talks with vehicle manufacturers who were supposed to take over production for the iPhone manufacturer have not been successful – at least according to the car companies concerned in partially veiled statements.

In addition to Hyundai and its subsidiary Kia, Apple has bitten the bullet with Nissan. According to a report, Apple now wants to rely on a different model – the use of genuine contract manufacturers, as the company has done for many years with the iPhone, iPad, Mac and others. There had been the corresponding speculation for some time. As the financial news agency Bloomberg now writes and the largest iPhone manufacturer Foxconn from Taiwan, the Austrian Magna Group is also on Apple’s list.

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Amazon could launch digital currency project

Recent job postings suggest Amazon may be preparing to launch a digital currency project in Mexico.

Job postings suggest that e-commerce giant Amazon may be preparing to launch a digital currency project in Mexico. Simultaneously, Amazon has yet to announce the project, several job postings at the company hint at a typical walled digital currency that could launch in emerging markets.

Amazon is currently looking for a software development manager whose job would be with digital and emerging payments. In its job posting, the tech giant said it brings together a technology team to develop innovative payment products for customers in emerging markets. The tech team consists of talented software development engineers (SDEs) and software development managers (SDMs).

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Mastercard is planning to give merchants the option to receive payments in cryptocurrency

The credit card provider Mastercard wants to open its global network for cryptocurrencies this year. And that would be a sensation. It would allow merchants to tap into more customers who already rely on digital assets. However, Mastercard will not support all cryptocurrencies, as some digital coins still have insufficient compliance measures.

Das Interesse an Bitcoin nimmt zu: Kryptowährungen sorgen derzeit für Schlagzeilen. Nicht nur an der Börse, wo sie laufend an Wert gewinnen, sondern auch in Sachen Akzeptanz. Anfang dieser Woche hatte hatte Tesla-Chef Elon Musk erklärt, sein Unternehmen investiere 1.5 Milliarden Dollar in die Kryptowährung und wolle die Digitalwährung bald als Zahlungsmittel akzeptieren.