Bitcoin Daily: Coinbase Plans Bitcoin Support For Wallet; Isle Of Man To Develop Blockchain Office

Bitcoin Daily

The Digital Isle of Man is making a blockchain push with the rollout of an Isle of Man Blockchain Sandbox and the creation of a blockchain office, according to reports. The blockchain office will provide marketing support and foster collaboration in the field (as well as communication between companies and regulators). In addition, the blockchain sandbox will allow participants to work on and experiment with the blockchain.

Digital Isle of Man CEO Lyle Wraxall said, according to reports, “We are looking to attract premium blockchain businesses and the world’s top exchanges to the Island, and we will be creating new tech-agnostic regulation inspired by best practice that we’ve seen from other high-quality jurisdictions around the world.”

On another note, Coinbase said on Wednesday (Feb. 6) that its wallet will roll out bitcoin support to users on Android and iOS, Coindesk reported. While crypto keys are stored by the exchange for purchases made through the company’s app or website, “users safeguard their own private keys” through the wallet. As it stands, the wallet supports ethereum classic and ethereum as well as other “over 100,000” ERC-20 tokens and ethereum-built ERC-721 collectibles. And, in the future, the company is developing support for litecoin as well as additional digital currencies.

In other Coinbase news, European Free Trade Association (EFTA) and European Union (EU) users now have an option to withdraw funds to PayPal, Coindesk reported. Customers in 28 EU member countries as well as Iceland, Switzerland, Liechtenstein and Norway in the EFTA can use the feature. Before that functionality was added, customers in Europe could only use U.K. Faster Payments and Single Euro Payments Area (SEPA) for withdraws.

And Abra, a digital currency exchange and wallet provider, is allowing users to invest in stocks, TheNextWeb reported. Through the company’s new functionality, users can buy parts of shares in companies (the “likes of Facebook, Apple, Amazon, Google,” according to the outlet). In addition, users can reportedly buy shares in indexes as well as exchange-traded funds with bitcoin. The service is said to make money through a spread at the time of exchange for digital currencies.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.