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Abu Dhabi-based Matrix Goes Live With More ADGM Approved Virtual Assets

Matrix, a global multilateral virtual asset trading platform, lists two new assets: XRP and XLM. The listings are part of Matrix’s attempt to bring a broader range of options to traders and investors around the world. Abu Dhabi Global Market (ADGM), the leading global jurisdiction for virtual assets, has approved these assets for listing on the regulated Matrix platform.

ADGM is an award-winning financial center and an International Financial Free Zone. With the Government of the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA) and the ADGM Courts, ADGM upholds a fair and transparent trading ecosystem. ADGM’s thorough regulatory practices ensure that all approved assets are consistent with its internationally recognized standards.

Matrix expands its list of supported virtual assets to include:

XRP, the native currency of RippleNet, a blockchain-based payment network,

Lumen (XLM), native currency of Stellar, a decentralized protocol for exchanging cryptocurrencies for fiat.

“Our goal at Matrix has always been to offer retail and corporate investors a single platform with the security of regulatory oversight,” says Vasja Zupan, President of Matrix. “We are excited to expand our range of tokens and stablecoins as the first Multilateral Trading Center in ADGM to expand our virtual asset offering, with even more additions in the works. We pride ourselves on providing peace of mind to investors through safe and expanding regulated trading options for our community.”

About the matrix

Headquartered in Abu Dhabi, Matrix is ​​a globally operated and regulated multilateral trading engine and custodian dedicated to providing a compliant, secure and fast virtual asset trading experience. Matrix obtained its license from the Abu Dhabi Global Market (ADGM) in relation to Virtual Assets. Matrix provides AML/KYC compliance, regulatory monitoring, and offline storage to protect the platform and users, as well as multi-node disaster tolerance, remote disaster recovery, and multi-server failover to ensure business system stability and reliability. Leveraging its high-performance core matching engine, Matrix is ​​able to fulfill large volumes of trade orders. Matrix is ​​one of the few global trading platforms that supports global fiat deposits, allowing for faster trading. For more information visit https://www.matrix.co/

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The largest digital bank in Latin America will allocate 1% to BTC and offer cryptocurrency investment services

In addition to buying Bitcoin, Nubank will offer BTC and ETH investment services to its more than 50 million customers.

Nubank, the largest digital bank in Brazil and Latin America, announced that it has partnered with Paxos to allow the bank’s customers to buy, sell and store cryptocurrencies directly through Nubank.

Along with the launch of the new cryptocurrency transaction services, Nubank announced that it will allocate approximately 1% of its equity in Bitcoin (BTC) through the ATM of Nu Holdings, the company that controls the Nubank Group.

“This move reinforces the company’s belief in Bitcoin’s current and future potential to disrupt financial services in the region,” Nubank said, as translated by Cointelegraph.

According to a Nubank statement sent to Cointelegraph, the purchase of Bitcoin and Ethereum (ETH) can be made from $0.2 (or 1 BRL) and will be available in May. The cryptocurrency investment service will be fully implemented at the end of June.

“There is no doubt that cryptocurrencies are a growing trend in Latin America,” explained Nubank founder and CEO David Vélez. “We have closely followed the market and we believe that there is potential for transformation in the region.”

Nubank also reported that the integration with cryptocurrencies aims to expand and improve access to this growing market, eliminating the complexity and friction for customers to buy, hold and sell digital currencies through the app without the need to open new accounts or transfer money.

The company confirmed plans to expand beyond BTC and ETH offerings in the future, but did not detail which assets will be included.

Through a set of APIs, Paxos will allow Nubank to offer cryptocurrency-enabled services to customers, as Mercado Livre and PayPal also do in partnership with Paxos.

It is said that Nubank has more than 50 million customers in Brazil alone. According to Paxos, its partnership with the digital bank represents an important strategic move as Latin America continues to transform into a cryptocurrency hub.

Brazil is firmly committed to digital money!

Nubank and Bitcoin

While this is the first time that Nubank has offered customers the ability to buy BTC and ETH directly, the bank is not new to digital assets. Through Nulinvest, a platform that Nubank acquired in 2020 when it was called Easynvest, the bank already allows clients to buy investment funds with exposure to the digital asset market.

With the acquisition, Nubank also started offering QBTC11, an exchange-traded fund allocated 100% in Bitcoin, managed by QR Asset Management and belonging to the QR Capital group.

Meanwhile, a securities filing earlier this year revealed that Warren Buffett’s Berkshire Hathaway bought $1 billion worth of Nubank stock in the fourth quarter of 2021. The move is said to have given Oracle of Omaha indirect exposure. to the digital asset market.

Related: Coinbase Will Supposedly Buy $2.2 Billion Brazilian Unicorn Behind Bitcoin Market

Nubank is not the only local financial institution looking to offer cryptocurrency investment services. Another Brazilian bank that will also offer Bitcoin investment services to its clients is BTG Practual. The bank’s president, Roberto Sallouti, recently announced that the bank will launch its own cryptocurrency exchange in about two months.

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OK Coin Is Leasing a Large Office in San Jose, CA

OK Coin – a popular and large digital currency trading platform – has agreed to take up office space in downtown San Jose, part of the Silicon Valley in northern California. The region is known for hosting a wide array of many of the world’s leading tech companies including Apple, Facebook, and Google.
OK Coin Leases Large San Jose Office Space

The office address is 160 W. Santa Clara St. and consists of 35,000 square feet. In other words, it’s pretty darn big. OK Coin appears to be one of several crypto companies now looking to stage a physical comeback of sorts.

The coronavirus pandemic hit industries all over the world, and crypto was no exception. Many of the world’s leading digital currency platforms – including Coinbase, Kraken, and others – called regions such as San Francisco home, but were ultimately made to close their physical offices after the pandemic began. From there, several have worked to maintain physical presences, but this has been rather difficult. A lot of them now only employ remote workers.

This has caused several problems for these companies in that they no longer have valid customer service departments, and if they do, they are hard to get a hold of given the displacement situations surrounding those departments.

Coinbase, for example, is now being hit with a class-action lawsuit after a customer’s account was hacked. The client claims he tried very hard to get in touch with Coinbase, but its lack of customer service abilities made it nearly impossible to do so. He’s now filing suit against the crypto giant, claiming little was done to assist in the recovery of his stolen assets.

Mark Ritchie – president of Ritchie Commercial, a real estate leasing company – says that he’s excited by the presence of OK Coin in the downtown area. He says the whole region has looked like something of a ghost town given how many businesses have had to close their doors in the wake of COVID, and he’s hoping the area starts bouncing again soon. He said:

It’s good to get a fresh office tenant to move into downtown San Jose. This is a significant office lease for downtown San Jose. Hopefully it’s the first of many.

It’s estimated that OK coin will be able to employ close to 200 people with a lease this size. Bob Staedler – principal executive with Silicon Valley Synergy – explained in an interview:

The downtown San Jose office market is poised for a comeback. The improvement in the market is real and it is sustainable.

Is Crypto Making a Physical Comeback?

Already, OK Coin is moving into the office. Scott Knies – executive director of the San Jose Downtown Association – said:

This is great to see. What downtown San Jose needs more than anything is people, especially people back in the offices.

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Trading App Giant Robinhood Lists Bitcoin (BTC) and Ethereum (ETH) Stocks in Grayscale

US trading giant Robinhood is adding two crypto-related products to its lineup for retail investors.

Investment asset manager Greyscale has announced that the company’s traditional investment vehicles for Bitcoin (BTC) and Ethereum (ETH) are launching on the Robinhood trading app.

There are two new ways to access crypto on @RobinhoodApp. You can start trading $GBTC and $ETHE today. https://t.co/n09aiEVhqEhttps://t.co/6tFrYCsmzx pic.twitter.com/AxKH7xZ0nS

— Shades of Gray (@Grayscale) May 6, 2022

The Grayscale Bitcoin Trust (GBTC) digital currency investment product was originally called the Bitcoin Investment Trust, created in September 2013, and offers institutional investors exposure to Bitcoin without the need to purchase or store it in person. Grayscale BTC Trust currently has $23.2 billion in assets under management (AUM).

Meanwhile, the Grayscale Ethereum Trust (ETHE) was founded in December 2017 and now has $8.4 billion in AUM.

Last October, Grayscale announced its intention to convert its Bitcoin fund into an exchange-traded fund (ETF), with the company’s global head of ETFs Dave LaValle saying:

“GBTC demonstrates that there is strong investor demand for physically backed Bitcoin investment vehicles.”

In November, filings with the US Securities and Exchange Commission (SEC) revealed that banking giant Morgan Stanley significantly increased its holdings in GBTC.

In January, Robinhood CEO Vlad Tenev mentioned the platform’s goal of adding crypto-related products to its platform.

At the time of writing, Robinhood quotes GBTC price down 1.08% and trading at $24.75, while ETHE is in the red down 1.6% with a value of 19.76 $.

Bitcoin itself continues the sell-off that began earlier Thursday when it was priced above $39,000, down 2.22% on the day and changing hands at $36,189 at the time of writing.

Ethereum is also struggling, falling sharply from Thursday’s high of $2,937 and currently priced at $2,711.

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Gucci to Accept Crypto Payments in Retail Stores

High-end fashion house Gucci will begin accepting cryptocurrencies at some of its stores this month, including bitcoin, ether, dogecoin, and shiba inu. The company plans for all of its directly operated stores in North America to accept crypto by this summer.
Gucci to Start Accepting Crypto Payments

Italian high-end luxury fashion house Gucci will start accepting cryptocurrency payments in five stores later this month, Vogue Business reported Wednesday.

The five stores are located in New York City (Wooster Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Phipps Plaza), and Las Vegas (The Shops at Crystals).

Gucci will accept bitcoin, bitcoin cash, ethereum, wrapped bitcoin, litecoin, dogecoin, shiba inu, and five stablecoins pegged to the U.S. dollar, the publication conveyed.

These coins are the ones supported by popular crypto payment service provider Bitpay, which also supports GUSD, USDC, USDP, DAI, and BUSD stablecoins.

Marco Bizzarri, the president and CEO of Gucci, commented: “Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers.” He added:

Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them.

The publication added that the fashion house plans for all of its directly operated North American stores to accept crypto payments by this summer.

Gucci has been ramping up its non-fungible token (NFT) and Web3 efforts. The company recently established a Web3-focused team and released a few NFTs.

The fashion house is also establishing a presence in the metaverse. It is developing digital real estate in The Sandbox. The two companies “will collaborate to create an interactive fashion experience based on Vault, Gucci’s conceptual space and meeting place inspired by childhood memories of the search for beauty,” they previously announced.

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