Bitcoin

Bitcoin Daily: Bitcoin Payments At The Grocery Store; tZERO To Launch Next Week

Indonesian ride-hailing company Go-Jek is acquiring a “substantial” number of shares in Philippine-based blockchain services platform Coins.ph.

While the details of the transaction were not revealed, it was reported that there will be no impact to Coins.ph customers and that its team “will continue in their existing roles,” according to CoinGeek.

“Supporting the success of a local FinTech entrepreneurial champion like Coins.ph, with a similar ambition to empower society through innovation and technology, has always been part of our passion for growth,” said Go-Jek founder and CEO Nadiem Makarim, and that the “announcement marks the start of our long-term commitment to the Philippines and a continuation of our mission to use technology to improve everyday lives and create a positive social impact.”

Meanwhile, a study by data firm Chainalysis has found that bitcoin as a form of payment doubled in 2018 on darknet market sites.

Bitcoin transaction volumes on darknet markets, where people can buy illegal goods, saw an increase over the entire year to reach an average of $2 million daily.

“For someone who wants to buy something on a dark marketplace, the fact that bitcoin price is fluctuating doesn’t really matter,” said Kim Grauer, senior economist at Chainalysis, according to Reuters.

In other news, the Stock Exchange of Thailand (SET) has applied for a license to operate a digital assets exchange platform. The exchange, which SET wants to launch this year, will boast a digital wallet for token storage.

Pattera Dilokrungthirapop, vice-chairwoman of the SET board of governors, added that the SET’s members will also apply to become brokers and dealers so they can trade on the exchange, according to CoinDesk.

For those that don’t want to go through an exchange, some U.S. supermarkets are selling bitcoin to customers onsite.

Bitcoin ATM company Coinme is partnering with Coinstar to allow bitcoin purchases through Coinstar kiosks at select Safeway or Albertsons stores in California, Texas and Washington state. There are plans to launch in additional markets and retailers in the future.

“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks, and Coinme’s innovative delivery mechanism along with Coinstar’s flexible platform makes it possible for consumers to easily purchase Bitcoin with cash,” said Jim Gaherity, Coinstar CEO.

And Overstock’s CEO Patrick Byrne told CoinDesk that the company’s tZERO security token trading platform will finally go live by the end of next week. Investors in tZERO’s token sale have already been notified that they can have access to their tokens.

“It’s a big moment for us — four years in the making,” said Byrne.

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Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances – full or partial payments received before an ad hoc job is completed – including how gig workers currently use them and their potential for future adoption.

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