Capital Gain

BitPay Expands DeFi Options In Wallet App

Published: in FINTECH by .

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BitPay, which is the world’s largest bitcoin and cryptocurrency payment provider, has debuted WalletConnect, which will allow access to the decentralized finance (DeFi) space, according to a press release. WalletConnect will be integrated into the BitPay Wallet app.

WalletConnect is an open-source protocol for connecting decentralized applications through scanning QR codes. It will let BitPay Wallet users send or receive ethereum tokens DAI and WBTC, the release stated.

In other news, digital investment platform Bitpanda has rolled out a Visa debit card to let customers switch between multiple assets, including cryptocurrencies, to fund payments, according to CoinDesk.

The card will also let customers switch to fiat currencies or precious metals, the report stated.

Bitpanda said the card will be able to be linked to any asset in a user’s portfolio and can be selected on the platform, per the report. The idea, according to Bitpanda Co-Founder and CEO Eric Demuth, is for users to be able to spend their investments anytime they want.

Meanwhile, investors are worried that the bitcoin mania is starting to recede as a market bubble discourages investors, Bloomberg reported.

The largest cryptocurrency saw its price fall around 8.4 percent Wednesday (Jan. 20), trading below $34,000.

The market has seen bitcoin soaring as of late, hitting highs in early January. But that also came with skepticism that the runoff was excessive, and analysts said recent gains could be ephemeral if the rally stalls and traders end up putting their money elsewhere, according to Bloomberg.

Lastly, Firo, an anonymous cryptocurrency formerly known as Zcoin, has been the latest proof-of-work coin to suffer a 51 percent attack, according to a report from Cointelegraph.

Firo tweeted as much Wednesday, saying holders should pause all transactions until the network returned to a normal state.

According to Cointelegraph, the attack, which has stopped, was revealed when some users began reporting that their previously confirmed transactions had switched to being unconfirmed, which was apparently the result of a blockchain reorganization attack by the culprit.

Binance CEO Changpeng Zhao said the reorganization caused a rollback of 306 blocks and “orphaned” transactions from the previous day, the report stated.

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NEW PYMNTS DATA: RETAIL BANKING SERVICES’ PARADIGM SHIFT STUDY – JANUARY 2021 

About: The January 2021, Retail Banking Services’ Paradigm Shift Report, PYMNTS examines how consumers choose to engage with their FIs when accessing information about various products and services, especially since the pandemic’s onset.





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