Towerbank has declared itself crypto friendly, making it easier for bitcoiners and cryptocurrency holders to make transfers and other financial operations from their bank accounts, without the risk of blockages or setbacks. This and more news in this practical summary daily so that you are always informedwith events most recent that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍Towerbank, in Panama, has welcomed bitcoiners and the crypto community. One of the most important commercial banks in Panama, Towerbank, has declared itself friendly to Bitcoin and cryptocurrencies. From its Twitter account, the commercial bank has welcomed the cryptocurrency community, inviting bitcoiners and cryptocurrency investors to carry out financial and commercial operations from the entity.
Gabriel Campa, vice president of product at Towerbank, said through a meetup that cryptocurrency owners can now open accounts at the bank to carry out financial operations to or from cryptoasset exchanges without fear of blocks or limitations. Although the bank is not offering cryptocurrency-based services directly, it is opening the door to the crypto community to operate with their digital assets in the entity, without obstacles or setbacks.
On Twitter, Cristobal Pereira, co-founder and CEO of LatAmTech Finance, said Following the announcement, Towerbank has become the first commercial bank in Panama and Latin America to declare itself publicly crypto friendly.
Cryptocurrencies and stablecoins
📍USDT, the most capitalized stablecoin in the industry, is integrated into the scalable Polygon network. Developers at Polygon, Ethereum's leading layer two scalability solution, reported on the integration of the USDT stablecoin. As they explained, USDT will enhance the ecosystem DeFi which is built on the blockchain Polygon, which hosts more than 19.000 decentralized applications or DApps, according to data from the Alchemy platform.
Currently, Tether (USDT) is the most capitalized stablecoin in the industry and the third largest cryptocurrency on the market, with a total value of $72.470 billion, at the time of writing.
Innovation, Development and Technology
📍Nigeria chooses Algorand network to develop intellectual property digital wallet. The Nigerian government plans to create its own blockchain-based digital wallet, called the “Nigerian IPR Wallet.” Algorand developers reported on a alianza between the Nigerian government, the Developing Africa Group organization and the Koibanx project to launch the national digital wallet that will allow its users to exchange and commercialize any form of intellectual property rights internationally.
Koibanx, which assisted El Salvador in its Lightning Network implementation on Chivo Wallet, has said that the Nigerian IPR Wallet is probably the largest crypto project in the world, which will impact the lives of some 50 million people and drive usage of blockchain technology as a basis for the construction of the technological and economic development of emerging countries.
Rules and Regulations
📍Russia's Finance Ministry considers accepting cryptocurrencies in international trade. Ivan Chebeskov, head of the financial policy department of the Russian Ministry of Finance, has reported that the Russian government is analyzing the possibility of accepting payments in cryptocurrencies to revive international trade. According to Chebeskov, the addition of cryptocurrencies as a means of payment will help the country counteract the effects of trade and economic sanctions imposed mainly by the US and UK governments.
📍Web3 lifestyle app StepN to block users from mainland China. The developers of StepN, a blockchain and Web3-based mobile lifestyle app, reported that they will close access to users located in mainland China to comply with government regulatory policies regarding cryptocurrencies and digital assets.
StepN is a Solana-based app, with almost 3 million monthly active users globally, that encourages an active and healthy lifestyle. Users of this app can earn cryptocurrency rewards just by doing outdoor activities, such as running, jogging, or walking.
The price of GMT, StepN's governance token, which fell more than 70% in the last month, shows a slight recovery at the time of writing, from 4,8% daily to trade above $1,08 per unit.
Continue reading: «Bitcoin is trading 30% below its fair price»
