News of the week. Friday, April 2


Friday, April 2. The week is coming to an end, so we can talk about the most interesting news in the crypto industry for this week.

Big survey from Binance

The cryptocurrency exchange Binance provided the results of the survey of residents of CIS countries and Russia. The majority of people polling, 83 percent, are confident that within 10 years the crypto industry will be firmly anchored in the global financial industry.

61% of participants believe that coronavirus infection has positively affected cryptocurrency, due to the 2020 quarantine, many people have begun to familiarize themselves with digital assets for the first time. 

38% prefer to stick to HODL, they also bought the crypt because of the high cost growth. 25% purchased cryptocurrency due to their unwillingness and distrust to join the traditional financial system. 18% do not trust bank deposits.

61% of people noted that the cryptocurrency has a significant return for the period of 2020. Almost 60%, namely 59.3% bought virtual currency for wages, 27.4% used the accumulated savings, 2.9% took out loans from banks.

37.7% of participants do not have Bitcoin, and 62% do not store DeFi tokens.

The survey was conducted in the first two months of this year, in Russia and CIS countries, and the bulk of the respondents were men. Age ranges from 26 to 35 years. The purpose of the survey was to analyse the main trends of cryptocurrency, using the opinions of participants from a variety of crypto exchanges.

“We can see how the world is increasingly interested in virtual money, in cryptocurrency, both among ordinary people, and from huge companies and investors. According to the results of the survey, which is pleasing and impressive, we can safely say that the lion’s share of respondents believe that the virtual currency can help the global economy develop, and half of the people do not doubt that the cryptocurrency will firmly take its place in the financial world over the next 5 years.”

Ripple gains momentum

In one of the previous articles, we already talked about the company Ripple. Briefly recall.

 

Ripple began in 2004, when the company positioned itself as a payment system that focused on accelerating transactions. This was the case until 2011, when the company was rebranded and a decentralized network was introduced into the payment system, everything became focused on cooperation with the banking sector. Thus Ripple began to perform the function of instant unlimited payments, with a minimal commission. In 2015, the company began litigation with SEC, which in turn accused Ripple of not having a token but shares that were not registered. Then they were fined $700,000. Since then, new charges have been brought that the sale of unregistered Ripple Labs securities has attracted $1.3 billion.

Now the company bought 40% of Tranglo, which specializes in cross-border payments.

“I am very happy to announce this merger of APAC Tranglo with RippleNet. We will do all the best for our clients who can take advantage of both ODL and credit lines!” – Tweets CEO to California company Brad Garlinghouse

Ripple planned to make a better payment system in Southeast Asia.

“Through partnership, companies will solve the problems of international payments using common experience and knowledge.” as stated in the statement.

Tether has confirmed its provision of stablecoins.

Tether Limited, the company that issues the Tether stablecoin, has assured all its customers since its inception that each of their stablecoins is backed by a real asset, whether it is dollars, gold or any other valuable asset in their vault. Currently, 1 USDT equals one US dollar. But the company did not give any evidence that each of their stablecoins was fixed in any way, so there was talk online that Tether did not have the collateral to shut down all its stable coins. But finally, Tether Limited provided evidence that this was not a fiction.

Moore Global, an international accounting and consulting firm based in the Caymans, has provided evidence that Tether Limited has sufficient reserves to secure its stable Tether coin. As noted in Tether Limited’s statement, Moore Global has confirmed that the company is capable of providing USDT. Tether Limited promises to remain fully open and transparent.

PayPal gave the go-ahead for payment with Bitcoin

PayPal is a worldwide payment system. It is a subsidiary of Ebay. Thanks to this system, it is possible to pay for Internet goods. Today PayPal exists in almost every corner of the world, and can be calculated in 20 different currencies. It is safe to use PayPal’s payment system because the transaction with the customer’s card details is not going to any unknown person, but to a globally recognized payment system. It is also advantageous to take advantage of the fact that consumers are not charged with any commission, but are relieved of the person who provided their goods.

Soon PayPal will give users of its payment system the opportunity to sell and buy products of partner shops for the first cryptocurrency. The company claims that no commission will be charged for a virtual currency transaction, and that any purchase will allow customers to convert the crypt into a fiat currency. According to Dan Shulman’s CEO, people will be able to use the cryptocurrency stored in the account as a debit or credit card. 

In November 2020, the company also launched the purchase and sale of the first cryptocurrency for US residents. At that time, the company made it possible to use virtual currency to pay in 26 million partner shops.

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