In Wednesday’s version of The Daily we cowl various tales that present how regardless of the continued bear market, the sector continues to draw main investments and cryptocurrency corporations carry on increasing their services.
Also Read: Blockchain.com Launches New Bitcoin Cash Block Explorer
F1 Team Gets Crypto Sponsor
Cryptocurrency enterprise Futurocoin has introduced it’s signed a two-year deal to accomplice the Aston Martin Red Bull Racing Formula One (F1) crew. According to the deal, the corporate’s branding shall be featured on the RB15 F1 vehicles pushed by Max Verstappen and Pierre Gasly, and its brand will also be seen on the drivers’ overalls and the crew transporters.
“In recent years, the rise of blockchain technology and cryptocurrencies has been truly remarkable, and we’re delighted to be the first Formula One team to embrace this, through our partnership with Futurocoin,” mentioned Aston Martin Red Bull Racing Team Principal, Christian Horner. “Secure digital currencies are on the leading edge of technological development and we are very excited to be part of this revolution.”
Aston Martin Red Bull Racing received the F1 constructors’ and drivers’ world championships in 4 consecutive years between 2010 and 2013, and has a complete of 59 whole Grand Prix wins. “Cryptocurrencies and Formula One are very similar and their values are much alike; speed, technology and being ahead of their time,” mentioned founder Roman Ziemian. “I’m a huge fan of motorsport and F1 has always intrigued me. The sponsorship is an exciting new chapter for our company and will be a global platform for us to drive awareness of Futurocoin.”
Dubai Royal Invests in Digital Assets Fund
Liechtenstein-based cryptocurrency investments fund Invao has been chosen because the unique worldwide accomplice for blockchain investments by Dubai’s Seed Group, owned by The Private Office of Sheikh Saeed bin Ahmed Al Maktoum. Believed to be one of many world’s wealthiest royals, Al Maktoum is the CEO of Emirates Group, chairman of Dubai World, chairman of the Dubai Supreme Fiscal Committee, and second vice chairman of the Dubai Executive Council.
Frank Wagner, CEO of the fund, mentioned: “This represents a seal of approval from an association of elite business minds across the UAE. At INVAO, we have the extensive experience, tact, and resources to contribute to the ascent of the UAE as a bonafide world leader in blockchain technology and look forward to helping this vision to crystallize. INVAO’s recent activity across the Middle East has shone a light on the region’s fertile ground for sustained growth and innovation.”
Coinbase Expands Paypal Support to Europe
Coinbase has introduced it’s increasing help for Paypal withdrawals to all its clients in the E.U. and the European Free Trade Association international locations (Iceland, Liechtenstein, Norway, and Switzerland). Before this transfer, SEPA and UK Faster Payments had been the one choices for European customers to withdraw fiat funds from the platform. ”As one of many world’s best and most widely-used cost platforms, including Paypal as a withdrawal choice for European clients presents one other nice choice for withdrawing their funds,” commented Coinbase’s Allen Osgood.
The firm also introduced including the flexibility to retailer BTC immediately in the Coinbase Wallet app. The new replace with BTC help will roll out to all customers on iOS and Android over the following week. The non-custodial crypto pockets already helps ETH, ETC, and a plethora of various ERC20 tokens and ERC721 collectibles. As introduced beforehand, Coinbase is engaged on including help for Bitcoin Cash (BCH) and different well-liked cryptocurrencies.
Facebook Takes Over Blockchain Development Team
Facebook has reportedly employed the crew behind Chainspace, a blockchain startup based by researchers from University College London to develop a “planetary scale smart contracts platform.” Four of the 5 researchers behind the mission’s whitepaper are becoming a member of Facebook’s blockchain division, and “people familiar with the startup” instructed Cheddar that Chainspace will shut down now because the social networking big has taken over most of its builders. A Facebook spokesperson confirmed to the media website that the corporate had employed folks from Chainspace however refused to offer additional particulars.
As we beforehand reported, Facebook founder Mark Zuckerberg set a purpose for himself at the beginning of 2018 to take again energy from centralized methods utilizing “encryption and cryptocurrency.” Throughout the yr his firm appeared to be targeted on the topic, with recruitment advertisements exhibiting that Facebook was on the lookout for knowledge scientists and software program engineers to assist develop new blockchain options, probably together with monetary services. It is now estimated that over 40 folks already work in the corporate’s blockchain division.
Australian Exchange to Offer Insurance
Australian cryptocurrency trade Independent Reserve has introduced it is going to supply insurance coverage protection to its purchasers. Underwritten by Lloyd’s of London, the insurance coverage coverage insures in opposition to theft or lack of any cryptocurrency that’s held in an Independent Reserve buying and selling account. It doesn’t, nonetheless, cowl any losses ensuing from market volatility or any losses arising from unauthorized entry to buying and selling accounts, similar to hacking a person account or id fraud. In the occasion of an incident, purchasers shall be compensated for any loss in their cryptocurrency holdings on the time of the incident.
“Insurance is the next logical step for our exchange in this fast-maturing industry. Our new insurance offering will bring new, meaningful and institutional capital into digital assets that was once sidelined. The Lloyd’s-underwritten policy is an addition to the multiple layers of security Independent Reserve have been using to protect digital assets for 100,000 customers over the past five years,” mentioned CEO Adrian Przelozny. “The acceptance of this policy by the largest insurer in the world is a vote of confidence in our corporate governance, robust risk management and security protocols and a sign of their commitment to working with only the highest quality partners.”
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