Anchorage (a cryptocurrency custody services company) has added insurance coverage for storing digital assets. This is a result its partnership with major insurance broker Aon. Anchorage clarified in a post that not all coverage of cryptocurrency custody insurance is equal as most custodians use a combination of hot and cold storage, on which policies may differ.
Coinbase (a USA-based cryptoexchange & wallet service) has announced that it has now added support for EOS. The new addition is reportedly available for trading and storage in most areas covered by Coinbase, with the exception of the United Kingdom and New York at press time. Coinbase also expanded its global offerings, with announced trading support for over 50 new jurisdictions and an educational program with small crypto payments, Coinbase Earn, that is available in over 100 countries.
Bytecoin (a privacy focused crypto) has developed a new protocol which can follow user manually to offer hardware wallet support to them. Jenny Goldberg, Bytecoin CMO explained: “Security is a central concern to both the developers and the community here at Bytecoin, so we are pleased that we have been able to enhance the security of our platform with the addition of early hardware wallet support.”
Button Wallet (a messenger-based crypto wallet platform) has announced that it will now accept US dollars (USD) to purchase coins. The platform at present integrated with Telegram has about 2k active users nad its new fiat-to-crypto plan is to increase the number significantly. COO of Button Wallet Rachael McCrary said, “For mass-market adoption of decentralized banking, you need more people, You need to make it easier for people to buy in.”
Ledger (a crypto hardware maker based in France) has disclosed that its Ledger Nano X wallet has reached its way to its official store and people can now just walk in to get a wallet. The new wallet is a Bluetooth enabled secure device, with excellent security protocols to ensure that private keys. The firm has tweeted: “We’re extremely excited and proud to announce that the Ledger Nano X has left its pre-order stage!”
The Central Bank of Bahamas (CBOB) will sign an official agreement with transaction provider NZIA.io in order to build and implement Project Sand Dollar, the first digital currency in the Bahamas. CBOB will enter an official agreement for the development of a digital fiat currency system on May 30. The central bank said, “The Project Sand Dollar initiative will be an integrated, affordable electronic payment system for all businesses and residents,”
A crypto defense fund dubbed as Defend Crypto has been propelled by Kik (a public blockchain application) through crowdfunding source to fight the U.S. Securities and Exchanges Commission with a self adopted motto “on behalf of the future of crypto in the US.” Kik explained, “After months of trying to find a reasonable solution, Kin (its crypto) has been unable to reach a settlement that wouldn’t severely impact the Kin project and everyone in the space.”
South Korean government is worried that the cryptocurrency market could be overheating again. The meeting was led by Noh Hyeong-out, who is the Minister of the Office for Government Policy Coordination and the meeting’s participants included officials from the Ministry of Economy and Finance, the Justice Ministry and the Financial Services Commission. They’re also closely monitoring the crypto markets to ensure that South Korean investors are safe.
The central bank of Malawi announced that crypto is not legal in the country and that the institution is against crypto-related activities. The Reserve Bank of Malawi (RBM) in its statement: “Cryptocurrencies are not legal tender in Malawi and do not represent a substitute to the Malawi kwacha (MWK), the local fiat currency of the southeast African country and also said that crypto is not legal and the state does not plan to recognize crypto investments in the country.”
Officials from European Central Bank have been holding discussion on potential benefits of central bank digital currencies (CBDC). The Chairman of the Bank of Lithuania, Vitas Vasiliauskas said, “The amount of cash in circulation is declining in some countries. This could mean that one day, even if it seems like a distant prospect every single person will have to have an account with a private entity just to make payments. Unfortunately, this may lead to increased levels of financial exclusion.”