Bakkt completes $300 financing, Zimbabwe works on framework to regulate cryptocurrencies and Coinbase Card can be added to Google Pay wallets
Bakkt Completes $300 Million Series B Financing
Last week, Bakkt announced they raised an additional $300 million of capital. The money will be used to take a broader view of digital assets.
The millions are raised with the participation from investors including Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital. Bakkt takes their business further than serving as a Bitcoin derivates platform.
Besides this, they also announced their new partnership with Starbucks. You can now pay your cappuccino with ‘Bakkt Cash’ as a payment method.
Reserve Bank of Zimbabwe working on a policy framework to regulate cryptocurrencies
All around the globe, cryptocurrencies gain a foothold. So happens in Zimbabwe as well. The Reserve Bank of Zimbabwe (RBZ) announced that it is working on a policy framework to give crypto businesses clear guidelines and to protect investors from crypto scams.
We have already started to come up with a fintech framework because in regulation everything should be well structured. The framework, which is a regulatory sandbox, will be assessing the cryptocurrency companies as to how they are going to operate.
According to a Zimbabwe Chronicle report, the bank had long been hesitant to legitimize cryptocurrency due to the high amount of fraudulent activity. However, it has finally realized that they can no longer be ignored and that it has to be regulated.
You can now use Coinbase Card with Google Pay
Android users can now add their Coinbase Card directly to their Google Pay wallets. This Google Pay wallet has more than 55 million users. With the launch of Google Pay, Coinbase now becomes the first company to enable users to make mobile payments powered by their crypto balances.
For now, this option is only available for Britain people, but CEO Brian Armstrongs mentions he hopes it will be enrolled to to other countries soon.
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