Bitcoin Business 2020 Digital Financial Services Recap! By AtoZcrypto Posted on December 15, 2020 3 min read 0 0 173 January-Feb 2020: Shopify joins Libra, Cash App users generate more than $30 in annualised revenue per user in December, but “bitcoin actives generated 2-3x annual revenue” May 2020: Visa seeks a patent for digital fiat currency – and the filing points to a central bank use case Visa CEO Alfred Kelly said he views digital currencies backed by a fiat currency as a potential emerging payments technology at the J.P Morgan TMC Virtual Conference. July 2020: PayPal reveals that it is developing crypto capabilities, reported buy/sell offering through pacts U.S. OCC says national banks can custody crypto PNC and US Bank respond to OCC Letter — want further clarity on crypto custody and servicing Revolut teams up with pacts to launch crypto service in the US Mastercard announces expansion of cryptocurrency efforts, inks card deal with Wirex Chinese finch giant Ant Group launches new blockchain brand “AntChain” source: The Block August 2020: Federal Reserve Bank Boston partners with MIT DCI on multi-year engagement to test and explore CBDC prototypes ConsenSys acquires Quorum from JP Morgan Cash App generated $875 million of bitcoin revenue and $17 million of bitcoin gross profit during the second quarter of 2020, up 600% and 711% year over year Aggregate supply of stable coin passed $16 billion while stable coin transaction volume on blockchains surpassed more than $114B in a 4th consecutive monthly all-time high, and +5x the avg monthly volume in 2019 Septembre 2020: Goldman Sachs appoints a new global head of digital assets, exec reveals interest in token tied to fiat Mastercard launches customisable CBDC testing platform Square forms a consortium to widen access to crypto technology by creating a library that pools members’ patents October 2020: OCC confirms banks can hold reserve deposits behind stable coins Paypal confirms crypto trading support in app and onsite with Paxos.
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