Bitcoin

Bitcoin Daily: Daimler Completes Pilot Blockchain Transaction; Bitcoin Payments Coming To Starbucks Via Fold App

Bitcoin Daily

Automaker Daimler has completed its first transaction on the blockchain-based Marco Polo network.

The firm used the network to process the data required to exchange payments with engineering firm and parts builder Dürr, according to CoinDesk. German bank Landesbank Baden-Württemberg was also involved in the trade.

In other news, Lloyds Bank revealed that it is partnering with blockchain platform Komgo “to enable quicker international commodity trade finance.”

“The process of trading a single commodity can take over 100 days, involves many players, considerable paperwork, and risk. Trade is particularly onerous for our commodities clients, where faster turnaround times and a streamlined channel are key requirements,” Gwynne Master, managing director for Lloyds Bank commercial banking, said, according to Cointelegraph.

She added that working with Komgo will help the bank with “significantly streamlining and digitizing the process.”

Mobile shopping app Fold announced that it has raised $2.5 million.

In addition, Fold’s editor, Will Reeves, wrote in a blog post that users can now spend both fiat currency and bitcoin at online and in-store retailers by synchronizing their credit card or Lightning wallet.

“Available on iOS and Android, Fold users can now spend fiat or bitcoin and get up to 20% cashback in bitcoin at retailers like Amazon, Uber, Starbucks, Hotels.com, and many more. It’s simple: sync your credit card or lightning wallet and spend via Fold at select retailers online, in-store or in-app, earning bitcoin on every purchase, instantly,” he stated.

And the Brazilian Securities Commission (CVM) has banned a forex broker offering bitcoin options.

The CVM warned that XM Global Limited can no longer operate in Brazil or do business with customers residing there, and ordered the immediate suspension of investment offerings in the forex or derivatives space. A firm that fails to comply will be fined 1,000 reals ($239) per day, according to Cointelegraph.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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