Adoption

Meta to Start NFT Tests on Instagram This Week

  • Mark Zuckerberg revealed that Instagram will be the first app under Meta's control to start NFT tests, and that Facebook could soon see a similar functionality.
  • Meta's CEO also noted that the company was working on augmented reality NFTs, which will allow users to place their digital art into physical spaces.

Gucci to Accept Crypto Payments in Select U.S. Stores

  • The crypto payment feature will be rolled-out in five Gucci stores, located in New York, Los Angeles, Miami, Atlanta, and Las Vegas, by the end of the month.
  • Gucci plans to accept 12 cryptocurrencies, namely BTC, ETH, wBTC, LTC, SHIB, DOGE, and five dollar-backed stablecoins.

Goldman Sachs Approves First BTC-Backed Loan

  • A Goldman Sachs spokesperson noted that the deal was particularly interesting because of its unique structure and 24/7 risk management.
  • The move comes at a time when Wall Street firms have started to increase their involvement in the crypto space.

Gibraltar to Combat Crypto Market Manipulation With New Rules

  • The legislation will implement new standards for crypto market integrity in Gibraltar, designed to combat insider trading and market manipulation in the sector.
  • DLT providers will now be required to seek out and prevent insider trading, and the publication of misleading information aimed at manipulating the crypto market.

Cuba’s Central Bank to License VASPs Starting May

  • The license will be available for individuals as well as organizations and will be valid for a year, though its validity can be extended for a second year.
  • VASPs that fail to comply with the new licensing regime will face penalties in line with existing banking rules and regulations.

Fidelity to Offer BTC Exposure to 401(k) Savings Accounts

  • Once the change has been implemented, more than 23,000 U.S.-based companies could allow their employees to invest in BTC through their 401(k) retirement savings accounts.
  • Fidelity plans to release the new option later this year, allowing 401(k) account holders to invest up to 20% of their portfolio in BTC.

Gemini Launches Crypto Rewards Card in All U.S. States

  • Gemini Credit Card, which was supposed to launch last summer, was released in partnership with Mastercard and WebBank.
  • More than 500,000 users had signed up on Gemini's waitlist, hoping to be the first to try the card that offers up to 3% crypto cashback for dining, 2% for groceries, and 1% for other purchases.

Nexo’s Crypto Card Enables Users to Pay Without Selling Holdings

  • Unlike other crypto cards that sell user's holdings at the point of sale, Nexo Card uses a crypto-backed credit line that can use a number of digital assets as collateral.
  • Launched in partnership with Mastercard and DiPocket, the card gives access to more than 92 million merchants, and offers a credit line that stays at 0% APR.

FIS Partners With Fireblocks to Accelerate Crypto Adoption

  • Clients of the Fortune 500 company will now gain access to a self-custody digital asset wallet technology, as well as tools for staking and DeFi.
  • Partnering with FIS brings Fireblocks' technology to "nearly every type" of buy-side, sell-side, and corporate institution in traditional assets.

Robinhood Launches Crypto Wallet to 2M Customers

  • Robinhood's crypto wallet, which was rolled out to 2 million users, will not support Ethereum-based services like ERC-20 tokens and NFTs.
  • The trading app also revealed it had plans to integrate the Bitcoin Lightning Network, reducing the time and fees associated with transfers.