PayPal Holdings has revealed in a press release the launch of a new service allowing its customers to “buy, hold and sell cryptocurrency directly from their PayPal account.”

Mode Global Holdings, a London Stock Exchange-listed company, has announced plans to make a “significant purchase” of bitcoin as part of its treasury investment asset.

Canadian investment manager 3iQ has seen its public bitcoin (BTC) fund, which is listed on the Toronto Stock Exchange, hit a new milestone after it surpassed the $100 million market cap.

Sponsored: After more than 9 months of intense development, and the implementation of a very advanced logistics infrastructure, Sesterce announces the launch of its e-commerce store, Crypterce.

Top stories in the Crypto Roundup today:

• PayPal Launches New Service That Lets Users Buy, Sell, and Hold Crypto
• UK-Listed Firm Mode Adopts Bitcoin as Treasury Reserve Asset
• Bitcoin Fund Listed on Toronto Stock Exchange Hits $100 Million Market Cap
• Attention CryptoCompare Socket.IO users!

 

PayPal Launches New Service That Lets Users Buy, Sell, and Hold Crypto

PayPal Holdings has revealed in a press release the launch of a new service allowing its customers to “buy, hold and sell cryptocurrency directly from their PayPal account.”

The fintech firm reportedly plans to “significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide.” Dan Schulman, President and CEO of PayPal, said:

“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange.”

Initially, PayPal’s new service will support four cryptoassets: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Users will be able to buy, sell, and hold these cryptocurrencies directly within their PayPal accounts, with the first supported jurisdiction being the U.S.. PayPal is planning to “expand the features to Venmo and select international markets in the first half of 2021.”

Paxos Trust Company is helping PayPal with dealing with crypto in the U.S. To be able to do so, it had to be approved for the first-ever “conditional Bitlicense” from the New York State Department of Financial Services (NYDFS).

PayPal will not charge service fees when buying and selling crypto through December 31, 2020, and there will be no fees for holding crypto within a PayPal account. The firm is also providing users with educational content.

UK-Listed Firm Mode Adopts Bitcoin as Treasury Reserve Asset

Mode Global Holdings, a London Stock Exchange-listed company, has announced plans to make a “significant purchase” of bitcoin as part of its treasury investment asset.

In a press release, the firm revealed it will convert up to 10% of its cash reserves into the flagship cryptocurrency as part of a long-term strategy to “protect investors’ assets from currency debasement.”

Mode added it will also seek to diversify away from low-interest money market instruments to maximize the value of returns from its recent initial public offering (IPO), at a time in which interest rates in the UK at a record low of 0.1%. Jonathan Rowland, Mode’s executive chairman, commented:

"Faced with the challenges of COVID-19 and with U.K. interest rates at the lowest level in the Bank of England's 326-year history, our confidence in the long-term value of bitcoin has only increased."

Mode added it recognizes bitcoin’s potential as a “reliable store of value and an attractive investment,” due to its “asymmetric risk/reward attributes” and “safe haven status.”

Bitcoin Fund Listed on Toronto Stock Exchange Hits $100 Million Market Cap

Canadian investment manager 3iQ has seen its public bitcoin (BTC) fund, which is listed on the Toronto Stock Exchange, hit a new milestone after it surpassed the $100 million market cap.

The fund, called The Bitcoin Fund, is Canada’s first bitcoin fund listed on a major stock exchange, and works as an exchange-traded product (ETP) as it gives investors exposure to its underlying asset.

The Bitcoin Fund (ticker: QBTC.u), as the name suggests, tracks the price of bitcoin using a feed co-developed by MV Index Solutions (MVIS) and CryptoCompare.The fund was launched in April and its price has moved up over 30% since then.

The price of BTC is tracked using the MVIS CryptoCompare Institutional Bitcoin Index, a rules-based index meant to track BTC’s performance on selected crypto exchanges. These exchanges including Binance, Bitstamp, Coinbase, Gemini, Kraken, and Bitflyer.

Attention CryptoCompare Socket.IO users!

Following a major recent update to our streaming services, we will retire our Socket.IO streamers on the October 27. This means all CryptoCompare Socket.IO API users are required to upgrade to our new WebSocket API streaming service by this date.

Please note that the REST API and WebSocket API will not be affected.

To continue streaming market data via WebSocket please do as follows:

1. Get a free API key or purchase one of the 3 flexible API licenses for corporate and enterprise usecases.
2. Upgrade and connect to the WebSocket API by following these simple steps.
3. In a hurry? Contact us at data@cryptocompare.com to apply for temporary IP whitelisting to ensure service continuity while you migrate.

The new streaming API service features new datasets, better documentation, secure authentication and offers real-time trade, ticker, volume, level 2 order book data, as well as OHLC candles and the CryptoCompare Aggregate Index (CCCAGG). Find out how to connect.

Crypterce - the New E-Commerce Store, Like Amazon but With Crypto

After more than 9 months of intense development, and the implementation of a very advanced logistics infrastructure, Sesterce announces the launch of its e-commerce store, Crypterce.

"It’s like Amazon in cryptos. The idea is to create a secure and reference-rich space, open to all, to be able to use its cryptos for everyday purchases (...) Our aim here is to increase the number of real applications for end consumers, and thus help the development and democratization of cryptos throughout the world" stated Younes El Manssouri, CEO of Crypterce.

Crypterce already offers several tens of thousands of products on its site, in 50 different categories. You will find everything: high tech equipment, gaming hardware, home equipment, sports stuff, toys, etc… The range of products available is really very wide.

The delivery can be made all over the world, and no less than 5 cryptocurrencies are already available to pay for your purchases: Bitcoin (BTC) of course, but also Ethereum ethers (ETH), Litecoin (LTC), Bitcoin Cash (BCH) or Ripple's XRP token.

Discover now Crypterce and take advantage of a 5% discount available for the next 24 hours with the code CRYPTOCOMPARE5.

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