Today we have 2 good news which we want to share with our Readers.
Table of Contents
- Crypto Payment Adoption is Continuously Expanding
- Nox Cryptocurrency Exchange Refund UST to their costumers @1$
Crypto Payment Adoption is Continuously Expanding
Lavu a Global restaurant Billing and payment solution providing firm announced on May 19, that they’re now in cooperation with Verifone a global FinTech payment solution provider to provide Crypto Payment .
The partnership will offer smooth integration of Lavu’s restaurant software suite with the Verifone FLEX payment options, enabling the companies based in more than 65 countries to offer a unique point of sale (POS) solution with multiple modern payment methods to their customers.
In essence, this will enable the companies to offer a unique point of sale (POS) solution to their customers. Whatsmore this strategic partnership will kick off with the Verifone Engage e285 device outfitted with Lavu’s tablet-based POS.
Cryptobirb Comment:- At one side Central Bank president says crypto is worthless worthless and should be regulated and another side Countries , big institutions and other Companies are adopting cryptocurrencies in our view in starting the technology face these type of hurdles and its very normal in world with new High potential technologies and bitcoin already shows its Flash to the whole world many times .
The following payment methods were announced: Alipay, Affirm, cryptocurrencies (including Bitcoin, Ethereum, Litecoin, Dogecoin, Shiba Inu, and several USD stablecoins) using crypto wallets such as PayPal, Venmo, WeChat Pay, Klarna, Swish, and Vipps.
The crypto world was recently bombarded by reports of Christine Legarde, President of the European Central Bank, who said that “Bitcoin is not worth anything’.
Her latest statements are coming as central banks remain cautious about cryptocurrency as the world’s leading economies look for greater regulation to regulate the sector.
It is true that crypto, just like all investments, is risky. However the recent fall of another stablecoin has raised concern within regulators, who are becoming more concerned about the possibility that crypto markets will be regulated themselves.
Overall cryptocurrency enthusiasts have good many reasons to be positive on cryptocurrency as greater adoption will bring greater stability and predictability of the market. Even humorous projects attempt to make the markets more secure and stable for users.
With such a creative and vibrant community, it’s only an issue of time until markets settle and resume their upward trajectory.
Crypto Payment
2nd News Headlines
Nox Cryptocurrency Exchange Refund UST to their costumers @1$
Nox Bitcoin, a cryptocurrency exchange located in Brazil has taken the unusual decision that it will use their own money to pay customers back their TerraUSD currency at exact price.
After local media’s news report of May 20th and the Nox Bitcoin exchange has refunded all UST holders with a $1 rate, using the USDT currency of Tether.
The report states that the cryptocurrency brokerage firm has paid $620,000 Reais ($127,000). The exchange paid the sum to pay all its clients who suffered losses because of the Terra ecosystem’s collapse.
“FatMan” of the Terra research forum said via the form of a tweet on 20 May that the move could establish a precedent in the world for other cryptocurrency exchanges.
The tweet read:
“This is fairly significant. A Brazilian cryptocurrency exchange has refunded all UST holders at a 1:1 rate with USDT. Likewise, this case may be used as key precedent to argue that exchanges are liable for UST losses. If tortious misrepresentations were made.”
The exchange announced that it would pay the customer the that difference in current exchange rate of UST and the dollar peg it devalued from. So, a buyer for 100 UST priced at $0.06 will be refunded of 94 USDT.
In the words of Nox Bitcoin CEO Joo Paulo Oliveira, the company is not responsible for the losses of its customers who invest in specific currencies on its platform. However, they have decided to intervene in order to safeguard the trust of their clients.
He continued;
“Clients have trusted us with staking and we understand that their trust is much more valuable than anything else. As a result, we’re going to reimburse these users minus the expenses we’d have elsewhere, like marketing.”
The news was an improvement and brought positivity to the cryptocurrency market. But, the decision of Nox Bitcoin exchange Nox Bitcoin exchange reflects the Brazilian regulation on protection of customers.
The exchange also provides the option of staking, for instance, Anchor Protocol, which UST extensively uses. The DeFi protocol could offer the possibility of up to 20% APY on UST Staking, and was thought to be responsible for the collapse of the exchange because of these low yields.
Many are looking forward to what will happen in the near future regarding trading UST or LUNA. “It is possible that this will no longer exist in the near future,” said Oliveira before saying, “but you never know what can happen in an unpredictable crypto market.