Bitsa adds Monero support for its credit cards
Italy’s new crypto-powered debit card supplier Bitsa has just expanded its prepaid card with major privacy-focused altcoin Monero (XMR). By enabling Monero support on its Bitsa Card, the company unclocks “all types” of XMR-based card transactions in physical stores and online, including card-to-card transfers and Monero conversion to euro (EUR). Launched in Q3 2019, Bitsa Card supports a total of 12 cryptocurrencies including Bitcoin.
As suggested by some users, Bitsa Card might be the first prepaid crypto card to have enabled privacy-oriented cryptocurrency Monero. The addition of this altcoin is in line with the mission of the company, which aims to allow more funding methods, and thus the addition of additional cryptocurrencies is not excluded.
Ukrainian exchange of cryptocurrencies Kuna introduced stablecoin bound to the Ukrainian hryvnia
Ukrainian cryptocurrency exchange Kuna has released a stablecoin pegged to local fiat currency, the Ukrainian hryvnia (UAH). Dubbed UAX token, the new stablecoin is pegged to the hryvnia on a 1:1 ratio and is based on the Ethereum blockchain. According to the exchange, UAX is now being tested by selected users of Kuna in beta version. This testing will run until March 20, 2020.
The aim of the first phase of UAX implementation is to integrate with market players, technical testing on decentralized finance platforms as well as research into the “latest economic theory.” UAX will be publicly presented by Kuna founder Michael Chobanian at local industry conference BlockchainUa 2020 in March.
Shopify announces cooperation on the creation of stablecoin Libra
E-commerce giant Shopify has joined the Libra Association, a network of founding members supporting Facebook’s stablecoin project Libra. Shopify, a major Canada-based digital commerce platform hosting more than one million merchants, will be collaborating on the establishment of a global payment network within the Libra Association. The Libra Foundation has confirmed the news in a Facebook post, outlining that Shopify would be an “incredible partner in making widespread economic participation a reality.”
In the announcement, Shopify claimed that its action to join the network comes in line with the company’s desire to tackle the unsolved problem of cross-border payments. According to the company, “much of the world’s financial infrastructure was not built to handle the scale and needs of internet commerce.”
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