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When you enter encryption Investment, then tracking all important events becomes an inevitable task. Here, we try to draw your attention to some of the most important news items related to encryption, which can help you make wise choices. Take a look:
Cove Markets joins Robinhood Crypto
As the world’s top trading platform, Robinhood Crypto acquired Cove Markets, a leading cross-exchange API channel, to expand its user operations capabilities. On Tuesday, Robinhood published an official blog post about its latest acquisitions in the industry. This strategic transaction will play an important role in increasing order routing and transaction processing volume on the Robinhood ecosystem.
According to the announcement, the agreement will help investors safely and easily access various decentralized exchanges. Cove Markets will allow investors to trade on seven well-known crypto exchanges including Coinbase Pro, Kraken, Bitfinex, etc. This will expose them to more than 50 cryptocurrencies and altcoins to increase their profits. As part of this process, Cove co-founders Scott Knudsen and Victoria Glava and their team will join Robinhood Crypto.
Christine Brown, Chief Operating Officer of Robinhood Crypto, stated that the team is very happy to work hand-in-hand with Cove Markets. The company looks forward to strengthening its trading ecosystem through Cove Market’s long-term accumulated knowledge and strong infrastructure.The team will work together to create a better Cryptocurrency trading Opportunities for customers.
Robinhood Crypto’s team is taking all necessary measures to strengthen its position in the crypto market. The company worked with Chainalysis to seek reliable data and tools to support its native encrypted wallet. On the other hand, Cove Markets allows customers to effectively manage their encrypted accounts and create a strong portfolio of high-yield tokens.
Coinbase wallet now supports NFT
A world-renowned brand from the U.S. Cryptocurrency exchange, Coinbase expands its self-custodial wallet by adding support for non-fungible token transactions for investors. With this operational development, Coinbase looks forward to attracting the attention of NFT fans, who are now willing to join its trading channels. The exchange will enrich users to view their NFT assets, track them, and securely access well-known NFT markets including OpenSea.
Adding NFT support to Coinbase Wallet may increase its adoption of browser extensions. The team clarified that investors need to have the latest version of the Coinbase browser extension to use the newly installed service.
When talking about its 2022 plan, Coinbase expressed their willingness to expand support for non-fungible tokens while making decentralized trading tools more accessible and economical. Coinbase wallet With DEX integration function, it allows customers to easily convert their assets through multiple cryptocurrency exchanges. Recently, the platform launched a new independent browser extension for wallet users, allowing them to securely access the encrypted asset pool on top DEX.
Well, it seems that NFT is becoming a trend leader in the encryption field because the company is actively betting on it. As major brands such as Coinbase support NFTs, the popularity of these digital collectibles may increase exponentially in the near future. The report released by Cointelegraph Consulting shows that the total sales of NFT in 2021 may reach 17.7 billion U.S. dollars. The industry experienced substantial growth in August, with sales exceeding $1.6 billion.
Ukrainian bank uses Stellar to test electronic hryvnia
Tascombank, Ukraine’s largest commercial bank, is cooperating with the Stellar Development Foundation (SDF) to launch a pilot project for the country’s fiat currency, the hryvnia. Together with Stellar and Tascombank, Bitt, a popular financial technology company, will also play an important role in launching the project in the country. The hryvnia pilot will be carried out under the supervision of the National Bank of Ukraine and will receive continuous support from the Ministry of Digital Transformation (MDT).
According to reports, the pilot is mainly to test the issuance of electronic money in the open blockchain field. Tascombank is designing and testing the hryvnia on Stellar to facilitate its easy deployment on Bitt’s fintech ecosystem (known as the Digital Currency Management System or DCMS). DCMS will provide Tascombank with technical support for minting, storing, issuing, distributing and redeeming decentralized currencies. Stellar will help Tascombank meet asset control requirements, promote interoperability, and provide the flexibility of an open decentralized ledger channel.
MDT Deputy Minister Oleksandr Bornyakov stated that the pilot project will be an important tool to promote innovative changes in the country’s payment and financial infrastructure. It will provide the technical basis for the launch of electronic money in Ukraine. Denelle Dixon, CEO of SDF, stated that the pilot project has been successfully launched. Dixon added that the electronic hryvnia currency will be issued as an electronic currency on a blockchain designed in accordance with Ukrainian regulatory guidelines. Hryvnia’s first experiment was conducted in Diia, a public IT company under MDT. The company is using decentralized technology to manage the programmable payroll of its employees.
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