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Norwegian Block Exchange secures large private investment

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Oslo, Norway January 7th, 2021 – Just before entering 2021, the General Assembly approved the completion of a 60 million NOK private placement, for which Pareto Securities, the leading investment bank in the Nordics, acted as the sole manager and book-runner. which puts NBX in a prime position to continue to develop our trading platform for cryptocurrencies and digital assets, as well as new products related to banking and E-money licenses.

Ever since their public launch in April 2020, NBX has been working towards becoming a preferred digital assets services provider in Nordics. Since then, the product has attracted over 7000 clients, including institutional accounts, which, in turn, allowed them to grow their trading volume up to 20 million NOK by November. In doing so, they were able to engage major Norwegian investors and successfully close their most recent, 60 million NOK placement, which will help them to achieve our ultimate goal of becoming a digital asset bank, further down the line.

On the private placement, NBX’s Co-Founder and CEO, Stig Aleksander Kjos-Mathisen said: “I am very pleased that NBX has successfully raised 60 million NOK in a private placement. This funding will provide NBX with the financial robustness to pursue a banking license, and become one of Europe’s first digital assets banks, while simultaneously expanding our services to new countries and establishing NBX as the preferred digital asset service provider in the Nordics.” All in all, on the way towards these goals, NBX is currently focused on cementing further relationships with institutional clients who are considering cryptocurrencies as digital gold and a growing trend in wealth management.

 

About NBX:

Norwegian Block Exchange is truly a Norwegian and pioneering cryptocurrency exchange founded by Bjørn Kjos, who also founded Norwegian Airlines and Bank Norwegian. Based in Oslo, having highly-skilled professional teams both in Oslo and Riga, NBX sees the potential to become the one-stop solution for financial services in the cryptocurrency economy. Transparency, commitment to compliance, security, and stability are all at the core of NBX business.  For more information on Norwegian Block Exchange, please go to  https://nbx.com

 

 

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PayPal allows Bitcoin and cryptocurrency transactions

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Just a few years ago, Paypal used to categorically oppose Bitcoin as a payment method. For those who used to buy Bitcoin during the prior bull run, in 2017, you might remember the large interest of Paypal users in finding ways to obtain cryptocurrency. Paypal did not only take an opposing stance but they even closed accounts associated with cryptocurrency purchases.

 

Fast forward to 2020, and we are seeing an incredible development taking place – Paypal finally supports cryptocurrency transactions. While the new feature of the payment system is only a few weeks old, many people are not yet aware of the specifics. And that’s exactly why we wrote this article.

 

Over the next few paragraphs we will break down the new offer of Paypal, and how it affects the industry as a whole. Let’s get started.

Paypal enables cryptocurrency storage

As of November 2020, users are now able to purchase Bitcoin, Ethereum, Litecoin and Bitcoin Cash directly through Paypal.

 

<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Now you can buy, hold and sell <a href=”https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw”>#Crypto</a> with PayPal. Start with as little as $1 in the PayPal app today. Terms apply. <a href=”https://t.co/ydl63Q5kGB”>https://t.co/ydl63Q5kGB</a> <a href=”https://t.co/ArZP2FgrSk”>pic.twitter.com/ArZP2FgrSk</a></p>&mdash; PayPal (@PayPal) <a href=”https://twitter.com/PayPal/status/1330919854724026373?ref_src=twsrc%5Etfw”>November 23, 2020</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

 

The offer initially rolled out for users who reside in the United States, and was later enabled to more than 380 active Paypal users around the globe.

 

Here’s how the process works:

  • Users can select to either buy or sell the cryptocurrency they want from the dashboard of Paypal.
  • After making a purchase, the coins remain in their account and cannot be transferred elsewhere. Paypal thus offers “paper crypto”, also known as a representation of cryptocurrency backed by the real asset.
  • Due to being unable to transfer the funds. Users are eventually prompted to sell their coins back to the platform.
  • While this limits the use of cryptocurrency obtained through the platform there is some great news as well. Until 2021, users do not need to pay any fees when buying or selling coins through the platform.

 

So is this a good thing for the growth of the industry?

Many claims that the somewhat “centralized” approach that Paypal adopts when it comes to cryptocurrency transactions gives the wrong message towards the public. Several authoritative cryptocurrency investors believe that new users should be able to use their coins as they please, and not be forced to hold onto them within the platform of Paypal.

 

However, there are some very good news for the industry as well. These are the developments you need to keep in mind as we are entering 2021 with a nearly fully recovered Bitcoin:

1.   Paypal now buys ±70% of all new BTC

Since their recent announcement, more than 20% of Paypal’s users have already bought some form of cryptocurrency. To support this extremely large user demand, Paypal is now forced to purchase nearly 70% of the daily minted supply, which equals roughly to 630 BTC. This move sharply increases the difficulty of obtaining new Bitcoin, which in turn increases its scarcity and price.

2.   Paypal improves accessibility to crypto

New technologies always take time to develop, especially when the majority of people are not very accustomed to decentralized technology. Paypal’s decision to support cryptocurrencies massively expedites this process, making the UX/UI issues disappear. Every Paypal user has now full access to cryptocurrency and can purchase however much they like.

3.   Cryptocurrency will soon be used when paying all Paypal-supported merchants

Starting from early 2021, Paypal users will be able to use their cryptocurrency to make payments to all 26 million merchants that support the payment system on a global scale. This brings cryptocurrency one step closer to being adopted as a fully capable and globally adopted payment system.

Wrapping up

Paypal’s move towards cryptocurrency support and mainstream adoption makes perfect sense when looking at the recent economic and geopolitical developments. With Bitcoin making a full recovery over the past two years, there is now concrete proof that cryptocurrency is here to stay. Those who welcome new technologies will be the ones that benefit most from it, and Paypal seems to have a low time-preference when it comes to their enhanced business model.

For now, we will need to patiently wait until more payment systems and institutions decide to join the BTC revolution. Who knows what the future may hold? We may soon see Bitcoin climbing to new highs, satisfying even the most demanding Paypal users.

Source:

Santa

Cryptocurrency Journalist

Santa is a Latvia-based cryptocurrency journalist with a passion for covering the latest happenings in the cryptocurrency and tech world. In addition to being the analytics specialist of Paybis, Santa is also into consulting, reading,

 

 

 

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Bitcoin: Has the bull market faded?

2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, wi

The post Bitcoin: Has the bull market faded? appeared first on AMBCrypto.

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2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, with Bitcoin retracing all way from around $41k to where it stood at press time ($32,600).

However, does the reversal signal the end of the bull run or the start of a wider scale correction akin to what happened in January 2018? Or, as most traders would have it, is Bitcoin’s price finally stabilizing above its previous ATH and maintaining much of the gains it raked up since December 2020?

Source: Santiment

Interestingly, Bitcoin’s social volume metric can help elaborate on what happened, with the world’s largest cryptocurrency enduring a price correction amounting to close to 10 percent.

Santiment’s data showed that as Bitcoin fell to $31.1k, its social volume – a metric that helps traders determine the market sentiment and where the price will head in the short-term – increased and registered a 6-day high. Given the increased demand for Bitcoin over the past few months, from both retail and institutions, it wasn’t much of a surprise that many saw the dip in price as an interesting buying opportunity.

Source: Santiment

On the other hand, there have been certain caveats to Bitcoin’s positive sentiment. What was noticed according to the data provider was that there was a sudden surge in negative commentary around Bitcoin. While a major share of the market seemed to have its faith in Bitcoin unshaken, Santiment’s data also hinted at the fact that a bigger price correction cannot be overlooked for the king coin. While it is unlikely that a drop to its November 2020 valuation is going to happen, a further dip that takes Bitcoin’s price below $30k cannot be discounted.

However, there are still strong bullish signs that one needs to consider before coming to any substantial conclusions regarding Bitcoin’s fortunes in the coming weeks and months.

Hodlers have traditionally played a key role when it comes to Bitcoin maintaining its price and securing significant returns for its investors. According to Glassnode’s Liquid Supply Change charts for Bitcoin, the crypto’s price continues to be fairly secure, with the same revealing that a large-scale dip on the charts looked quite unlikely.

Source: Glassnode

According to the data provided, Bitcoin is seeing the largest depletion of liquidity in a few years, with a majority of the Bitcoin being moved from exchanges into non-exchange entities that are to be hodled for long periods of time. This is a very important aspect of Bitcoin’s 2021 price action and can back up the argument that Bitcoin’s price is going to hold its ground without losing much to the bears in the coming weeks.

In the past month alone, a whopping 270,000 Bitcoins have moved to entities considered HODLers. With the backing of large accounts that continue to hodl, Bitcoin may see occasional dips and corrections, but the bullish market momentum is likely to remain and help stabilize the coin’s price.

Source: https://ambcrypto.com/bitcoin-has-the-bull-market-faded

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BTC Price Will Replace S&P 500: Michael Saylor

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin. After BTC Replaces Gold As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven … Continued

The post BTC Price Will Replace S&P 500: Michael Saylor appeared first on BeInCrypto.

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Michael Saylor sees bitcoin, the ideal institutional safe haven asset, replacing stock indices.

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin.

After BTC Replaces Gold

As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven asset. He sees it as replacing gold.

Besides Saylor, Deutsche Bank, JPMorgan, Blackrock, and others see BTC as affecting the gold price or replacing gold as an asset. However, Saylor took his prognosis a step further and said that BTC could replace stock indices such as the S&P 500 or the Dow. Cash-rich corporations are “saying that cash is a liability; they have to find an asset that’s going to appreciate faster than the rate of monetary expansion.”

After that occurs, bitcoin will find itself even further integrated into the business world. It will become the monetary index that replaces stock and bond indices such as the S&P 500 and the Dow. “People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.”

People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.

70,784 BTC, +/-

Saylor’s CNBC interview came as MicroStrategy announced that it had bought another 10,000. This takes the company’s total bitcoin holdings in its reserves to about 70,784 BTC. MicroStrategy bought this latest round of 314 bitcoin at an average of $31,808 per coin. 

An IT company with a twist

MicroStrategy is still a business intelligence and professional services company. However, Saylor and his team use bitcoin as a store of value for an increasing portion of the corporation’s treasury. As CNBC notes, this results in the company’s stock price tracking bitcoin’s. “It’s almost become a stock market proxy for crypto,” said host Morgan L Brennan.

When Brennan asked Saylor about this, he noted that because companies want to convert the liability of cash into an asset, they will do one of two things. Many will do what MicroStrategy has done. They will directly purchase bitcoin. Others will go the route of Square and Paypal, and will build bitcoin into their product offerings.

Moreover, Saylor noted that the company’s employees are “pretty delighted” with the company’s moves, as they are “pioneers” in terms of utilizing this technology.

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

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Source: https://beincrypto.com/__trashed-4/

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Futuristicx Hybrid Conclave: Driving Customer Experience through Technologies

The Middle East currently is the biggest digital hub with a massive technological transformation taking place. In the past one decade the Middle Eastern market has completely migrated its infrastructure to a digital platform. The current pandemic has enabled a forced acceleration in technological development to better serve the customer and meet their ever-changing expectations. … Continued

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The Middle East currently is the biggest digital hub with a massive technological transformation taking place. In the past one decade the Middle Eastern market has completely migrated its infrastructure to a digital platform.

The current pandemic has enabled a forced acceleration in technological development to better serve the customer and meet their ever-changing expectations. In today’s time, consumer loyalty has shifted from product and price to customer experience.

It has become imperative for the organization to re-align its strategies to retain the customers. Companies are re-modeling their legacy systems to provide a better customer journey and build tailor made solutions available with a single click for their consumers.

Considering all these parameters in the region, Exibex is proudly announcing the launch of Futuristicx Hybrid Conclave 2021 scheduled on 16th March 2021 on a hybrid platform. Themed on driving customer experience through disruptive technologies, this event will be hosted on-site for a live audience (Conrad Hotel, Dubai) and on a virtual platform simultaneously.

This summit will be focusing on technologies like RPA, Analytics, AI, Blockchain, Robotics, Cloud, and Automations that are being adopted to drive customer excellence in the cross-industry domain.

The aim of the summit is to help the industries learn and share their experiences when it comes to enlightening the path to the right customer journey approach.

Join us at this HYBRID SUMMIT either on site from the comfort of your home/office to indulge yourselves in thought provoking presentations and interactive panel discussions by the industry wizards. Keeping in the consideration of the present market situations, we are bringing one of its kind experiences to reconnect the industry while following necessary norms of your safety.

Futuristicx Hybrid Conclave is a platform created to bring all the stakeholders under one roof yet again and embrace the new normal. This is a stage to better prepare ourselves for the unpredictable future and safeguard our organization from the unknown challenges on our way.

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Source: https://beincrypto.com/futuristicx-hybrid-conclave-driving-customer-experience-through-technologies/

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