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GOING LIVE: Social media giant Facebook is set to roll out its own cryptocurrency, dubbed “GlobalCoin,” by Q1 2020, according to the BBC. The cryptocurrency-based payments system is slated for launch in “a dozen countries” with trials expected by the end of this year. Facebook has also apparently sought advice from officials of the U.S. Treasury and the Bank of England regarding opportunities and regulatory issues for the initiative. In addition, the Financial Times reports that Facebook has also been in talks with both the Coinbase and Gemini exchanges about the cryptocurrency. Full story
PAYMENTS PRIMETIME: AT&T’s Death Star logo may have really been a moon after all, with the telecom giant announcing Thursday that it will accept bill payments in the form of crypto by way of BitPay. As it stands, the crypto option isn’t being extended to other AT&T services, such as buying phones or other devices, and BitPay won’t yet work in AT&T’s storefronts. That said, the company noted in a statement that its customers use cryptocurrency and that the new offering is intended to give them their preferable option. Full story
DAI HARD: Crypto exchange Coinbase will now let its retail customers buy or trade the DAI stablecoin, but there’s bad news for some of the token’s fans. The exchange said Thursday that it was adding DAI on its website, as well as its Android and iOS apps, letting customers buy, sell, convert, trade or store the stablecoin everywhere except New York initially, likely for regulatory reasons. Unlike other stablecoins, DAI is backed by collateral on the MakerDAO platform, but still seeks to maintain a peg to the U.S. dollar, Coinbase noted. Full story
IRAN BAN: LocalBitcoins has officially shut off its service for Iran-based users, a move that follows weeks of rising rial trading volumes on the platform. The Helsinki-based peer-to-peer crypto trading site has not explicitly said why Iranians are suddenly being cut off from its service, though U.S. sanctions are almost certainly the cause. Such restrictions are increasingly pushing Iranians toward truly decentralized exchanges that won’t discriminate based on nationality. Full story |
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| BTC BOUNCE: With bitcoin rallying $500 in the last 24 hours, the tide has again turned in favor of the bulls, as per the short duration technical charts. Further, the 200-day moving average, a widely-tracked indicator of market sentiment, is the latest to join the list of averages calling a long-term bull market. As a result, prices could retest recent highs near $8,400 in the next day or two, although falling trading volumes call for caution. Full story |
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BEST OF THE BEST
WATCH OUT: Fraudsters beware. The world’s oldest watchmaker, Vacheron Constantin, is turning to blockchain to help tackle fakes and guarantee the authenticity of its timepieces. According to Robb Report, the Swiss firm hopes that the move will also boost the value of its luxury products on the secondary market. “Blockchain certification serves to avoid paper authentication, which can easily be forged,” the company said.
THE REST
ROARING TRADE? After Bitfinex’s new exchange token launched for trading on its own platform on Monday, the LEO token is now starting to find its way onto third-party exchanges. Eidoo, a crypto wallet and exchange service, announced on its blog that it is now offering trading of LEO against ether and U.S. dollars. Bitfinex notably raised $1 billion in a private sale of the token earlier this month.
TOYOTA TEST: Japanese auto giant Toyota is to trial blockchain tech in peer-to-peer electricity trading. For the effort, the firm has teamed up with the University of Tokyo and online renewable energy retailer TRENDE. Energy Live News says the pilot effort kicks off next month in Japan, and will examine the effectiveness of a “two-way, self-autonomous electricity supply system that allows direct trading with other prosumers.”
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WHO WON #CRYPTOTWITTER  |
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Launching Libra?