Visa to Enable Bitcoin Payments at 70 Million Merchants
Visa working to enable Bitcoin payments plus more highlights this week
Retail investors out-buying institutions, JPMorgan exploring crypto clearinghouse options, ADA to launch on Coinbase Pro, Grayscale launch five new trusts, DC Comics looking to enter NFT market
The total crypto market cap is $1.7T, up 1.6% over the last 24 hours
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Visa is working to enable Bitcoin purchases
Retail investors buy 187K BTC, institutions buy 173K
JPMorgan exploring crypto clearinghouse options
Grayscale launches five new trusts
Morgan Stanley to offer wealthy clients access to Bitcoin funds
Meitu buys a further $50 million of Ether and Bitcoin
yearn.finance unveils one-click yield farming feature
DC Comics looking to enter the NFT market
Cardano launching on Coinbase Pro
Visa is working to 'enable Bitcoin purchases' at 70 million merchants
On Fortune’s Leadership Next podcast, CEO Al Kelly revealed yesterday that payments giant Visa is working on ways to support Bitcoin using Visa credentials:
“We’re trying to work with some Bitcoin wallets to allow Bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”
Retail investors out-buying institutions
JP Morgan estimates that retail investors have purchased more than 187,000 Bitcoin worth $10.4 billion over the past three months via PayPal and Square. Institutions have also purchased 173,000 BTC worth $9.6 billion over the same period.
It was also revealed this week that JPMorgan is exploring Bitcoin and crypto clearinghouse options, looking for a middleman to sit between OTC desks and traders to create liquidity in the market.
Grayscale launch five new trusts
The world’s largest digital currency asset manager, announced the launch of five new digital currency investment trusts, bringing its total number of investment products to 14.
The new trusts are:
While the Grayscale BTC premium remains negative for the time being, it was also revealed earlier this month that Grayscale may be planning for a Bitcoin ETF.
Morgan Stanley becomes the first big U.S. bank to offer its wealthy clients access to bitcoin funds
As CNBC reports, the investment bank told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter.
However, Morgan Stanley is only allowing its wealthier clients access to the asset: The bank considers it suitable for people with “an aggressive risk tolerance” who have at least $2 million in assets held by the firm. Investment firms need at least $5 million at the bank to qualify for the new stakes.
In a letter to investors this week, Morgan Stanley also said “the threshold is being reached” on cryptocurrency becoming an “investable assets class”.