Several important incidents took place throughout the week concerning the cryptos. And the majority of the headlines appear positive to push crypto involvement further.
Coinbase announced last week its plan to launch a new NFT marketplace. It would allow the potential clients to verify, collect, trade & mint respective assets.
The proposed platform is officially named Coinbase NFT for now. Interested users can sign themselves up on the waitlist for early access to its intended marketplace.
Meantime, it also released a completely new policy proposal for crypto trading. The report explicitly mentioned US Authorities creating a new regulation for cryptos.
The company demands a ‘clear and comprehensive approach to regulate digital assets’. It also pointed to the US system falling behind other governments in terms of regulatory measures.
On the other hand, Facebook has finally launched its Novi digital wallet on October 19. The much-anticipated project just started in the US as well as Guatemala.
In fact, social media initiated a small pilot nearly two years after the announcement. The program will allow the users to send/receive any amount instantly, securely & without fees. Partnering with Coinbase, Novi supports the transaction through Paxos stable coin.
Head of F2 (Facebook Financial), David Marcus, already commented on the project. It’ll test core feature functions with operational capabilities in customer care & compliance – he said. Of course, the launch should demonstrate the possibilities of stablecoins for payments.
However, it lacks the availability of FB-backed Diem crypto for current transactions. Formerly known as Libra, Diem is considered to become the cornerstone of Novi wallet.
On Friday, news broke the internet regarding SEC allowance of first-ever BTC-linked EFT. The very first futures-based Bitcoin EFT started operating at NYSE on October 19.
The milestone setting electronic fund transfer from ProShares began under the ‘BITO’ ticker. And four additional futures-based EFTs are said to start operating soon.
It’s important to realize that the EFT tracks contracts, not the asset’s price directly. Overall introduction of new features & facilities seems a good sign for the crypto industry.