Crypto investors have taken large steps in 2022 to improve the state of the digital asset economy. Many decisions have been made and three of them stand out as some of the most notable efforts. All actions taken by blockchain investors and developers help bring cryptocurrency to where it is today. It’s time to look back at the most recent changes in the 2nd quarter of 2022 to celebrate the top:
Binance gained a full licence to operate in Bahrain
Among the biggest exchanges in the world, Binance has one of the largest influences on the digital asset economy as a whole. Thus, their success in gaining a foothold in the Middle East’s crypto hub is an important milestone leading toward the global adoption of Bitcoin. Binance gained a full licence to operate with the Central Bank of Bahrain (CBB) and its established banks in the country.
This licence allows banks in Bahrain and their partners to accept Bitcoin as payment. To clarify, this does not mean that the digital asset is a legal tender. It only allows users to easily convert their money between fiat and Bitcoin using local ATMs. This greatly benefits traders who participate in buying and selling as well as gamblers who earn Bitcoin from games like Andar Bahar live casino.
Venture capital firm Andreessen Horowitz double down on Web3
Web3 or Web3.0 is one of the most exciting visions Ethereum co-founder, Dr Gavin Wood, has proposed to developers and investors alike. It’s the idea of using blockchain technology to host new internet pages, allowing every user to truly own the content. The only challenge that it faces is getting enough projects started to make the foundation that can slowly build a new network to replace the current internet.
Venture capital firm Andreessen Horowitz showed interest in supporting this endeavour by opening funding opportunities for Web3 companies. As of May 25, 2022, they have raised $4.5 billion for their latest crypto and Web3-focused funds. $1.5 billion is set for seeding investments while the remaining $3 billion is allocated for startups.
MoneyGram and Stellar partnership to provide stablecoin remittance
Stellar Lumens is one of the most powerful networks to help transfer money between borders and it is slowly gaining usage around the world. The biggest leap to their worldwide adoption is when MoneyGram International formed a partnership with the open-source protocol. It is for the company to be a bridge from the crypto world to the fiat world.
The new partnership introduces a new service in the Stellar Wallet to send and receive USD Coin (USDC), a stablecoin from Circle with Bitcoin collateral. It can be converted and withdrawn as fiat using MoneyGram’s services around the world, giving digital assets another milestone towards global adoption. MoneyGram is also in talks with other wallet providers in hopes of being the first to allow Bitcoin transfer as well.
Take away
Cryptocurrencies have come a long way from being niche assets traded between a few individuals for recreational purposes. Some use it to buy pizza and toys at hobby stores while others use it for gambling at an Andar Bahar live casino. It is now one of the biggest assets for trading in the world and it is influencing how finance is handled between multiple industries. These big steps in 2022 are only some of a few amazing milestones for crypto and they will set a positive long-term impact on the world.
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