Good day to all. The news in the crypto space is full of FUD and bearish sentiment at the moment. Why not make a short recap of some positive news of crypto adoption so lest we not forget the long term goal of crypto.
Lets take a look at which institutes, companies or local shops started accepting crypto this past week.
Brazillian Football Club Now Accepts Cryptocurrencies
Sao Paulo FC, a Brazilian football club announced in a tweet on June 03, 2022 that they will start accepting cryptocurrencies as payment for tickets.
Sao Paulo FC, a professional football club originated way back in 1930 is one of Brazil's biggest and most decorated clubs, reportedly becomes the first team in the country to accept cryptocurrencies.
The said move come to flourish through it's official sponsor and partner Bitso, a local cryptocurrency merchant.
Cybersecurity Firm Octagon Networks To Convert Balance Sheet To Bitcoin
Octagon Networks, a research and development company in cybersecurity made an announcement through it's press release on the 4th of June, 2022 that it had converted it's balance sheet into Bitcoin. The said firm also announced that they will start accepting Bitcoin payments for all their services with a 50% discount if paid in Bitcoin.
According to their press release, " We believe Bitcoin will lead the world toward a better future. Bitcoin will help accelerate our other goals to bring high-quality cybersecurity solutions to the masses and help tackle the complicated bureaucracy involved with acquiring international customers and talent. Our inspirations for these ideas are many, but our implementation of this specific model was inspired by MicroStrategy Inc".
The move made Octagon become the first cybersecurity firm to convert their entire balance sheet into Bitcoin.
PayPal Users Can Now Send and Receive Crypto
Financial giant PayPal announced in a press release on June 7, 2022 that users can now transfer their crypto assets in and out of the platform. The new feature has been the most requested by user's as they can only buy & sell crypto but cannot be transferred out when PayPal made their crypto feature debut back in late 2020.
The new feature is available to select users from the United States but will be available to all U.S customers in the coming weeks. PayPal currently supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
Checkout.com Now Accepts Stablecoins and Becomes 1st PSP To Unlock Weekend Settlement for Merchants
Checkout.com, a global payment processor and a rival of PayPal made an announcement on 7th of June it's stablecoin settlement solution through Fireblocks, a crypto infrastructure provider. The system enables merchants to pay in Circle's stablecoin USDC and will be able to make payments 24/7 including weekends and holidays. The stablecoin settlement only supports USDC but plans to accept more assets in the future.
VeChain and UFC Announce Global Marketing Partnership
UFC, the biggest mixed martial arts organization and VeChain, the leading global sustainability-focused blockchain Foundation made an announcement of it's partnership on the 9th of June, 2022. The said partnership makes VeChain the first official layer 1 blockchain partner and gives them product visibility across all UFC live events and programming.
The UFC now has 2 big crypto companies included in it's branding.
Farfetch To Start Accepting Crypto Payments this Year
In an an announcement made on the 10th of June 2022, Farfetch, an online luxury fashion retail platform will soon start accepting cryptocurrencies as payment for online purchases. The leading global platform for the luxury fashion industry will initially accept seven cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), among others.
Farfetch is the latest luxury/ fashion company to adopt cryptocurrency payments following Gucci, Balenciaga and TAG Heuer which made their own announcements these past weeks.
Mastercard Now Allows NFT Purchases On Select NFT Related Platforms
Giant financial service provider Mastercard announced on 9th of June, 2022 that it had partnered with several NFT marketplaces or NFT related platforms to allow direct purchase of NFT's using their card. The company with 2.9 billion Mastercards worldwide said that this move could have a big impact on the NFT ecosystem. NFT purchases usually require a buyer to convert fiat into crypto before buying an NFT.
NFT platforms that Mastercard partnered with is Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure provider MoonPay. Prior to this announcement, Mastercard also made a deal last January, 2022 with Coinbase allowing it's users to purchase NFT's using the card on it's NFT marketplace.
That's all the adoption news I found. Hope you enjoyed this post and remind you where the crypto industry is heading in the long run regardless of the current prices. Thank you for reading and have a nice day.
If you want to read more on the news posted here click the following links below:
Sao Paolo FC accepts crypto payments
Octagon Networks converts balance sheet to Bitcoin
PayPal users can now withdraw crypto
Checkout.com now accepts stablecoins
Farfetch to start accepting cryptocurrency payments
Mastercard Now Allows NFT Purchases
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