A pretty quiet week for the crypto-sphere however there are still some interesting news to talk about. Today we are going to talk Binance, an interesting idea from an airplane company, Mastercard and finally Crypto.com. Let's simply dive into it.
1. Binance is exploding in Africa :
It's a surprise for no one cryptocurrency is becoming more and more popular on the African continent, especially due to Bitcoin popularity. Right now Africa represents a 25% retail share of market, as a result crypto-exchanges are also more and more popular which allows Binance to be the leader in Africa it has widened the gap with other platforms since the beginning of 2020.
Binance has been showing its interest in Africa for several months. Nearly a year ago, the exchange the Nigerian naira and confirmed its desire to open up to other local economies. When Binance arrived in Africa, it gave many people the opportunity to buy and trade cryptocurrencies, allow them to conduct crypto-fiat transactions that were previously inaccessible. They have more liquidity than other exchanges in the region, they recruit local community managers and they provide free rewards for people who register.
In regions of the world where the economy is struggling cryptocurrency appears to be a decent solution especially in Africa, as we are speaking at the global level, the exchange is currently handling volumes in excess of $3 billion per day.
2. Buy Plane tickets with Bitcoin :
That's the interesting concept of the week, Ulysse a french travel agency is now allowing its customers to purchase their plane tickets with different cryptocurrencies including Bitcoin, Litecoin, Ethereum & Bitcoin Cash. Founded back in 2018 this company wishes to have a more modern approach, and for them this cryptocurrency payment idea is responding to a strong demand from some of their customers.
In order to allow this brand new feature the french company integrated Coinbase on their website, Ulysse's CEO stated that this idea was perfectly representing Ulysse's philosophy. All in all I think it can only benefit the company and I hope more companies will get into cryptocurrencies in the future.
3. Mastercard is pushing for digital currencies :
Indeed the giant Mastercard just launched a test platform dedicated to central bank digital currencies, the firm thus encourages central banks, but also commercial banks and technology companies to join its approach. This platform will show how these digital currencies can interface with existing payment networks. The environment can simulate the use of a digital currency by consumers. Mastercard has always been a main actor of the digital currencies development and continues to help the central banks in order to move forward.
4. Crypto.com launched DeFi Swap :
This week the exchange finally launched DeFi Swap their decentralized protocol based on Ethereum blockchain, its own automated market maker pool (Automated Market Maker or AMM). Powered by the CRO token, Swap Challenge will provide liquidity providers with significant rewards to encourage them to contribute.
Right now the users can exchange a short list of 7 DeFi tokens including Chainlink, Compound or Tether. In order to use this DeFi Swap users will need to have Metamask and then exchange their Ethereum to Wrapped Ethereum in order to exchange it for a DeFi token. The exchange fee is fixed to 0.3% and Crypto.com is guaranteeing 14 millions CRO as reward for liquidity providers. There are a lot more details on this DeFi Swap on the Crypto.com website, you should definitely take a look if you wanna more about it.