Bitcoin Daily: Binance Accepts Credit Cards For Crypto; Bitcoin Set For Six Straight Months Of Declines

Bitcoin Daily

Binance is allowing users to buy digital currencies with their credit cards, according to an announcement from the crypto exchange. Through the offering, and in conjunction with payment processing firm Simplex, the company is enabling customers to buy the Ethereum, bitcoin and Litecoin digital currencies. Binance CEO Changpeng “CZ” Zhao said in an announcement for the offering, “Partnering with Simplex allows us to instantly bridge the gap between credit card payments and crypto for traders globally.” Overall, users can trade 150 different coins and tokens through the platform.

In other news, bitcoin is set for its sixth straight month of declines, Bloomberg reported. The popular cryptocurrency has plummeted by nearly 60 percent from the highs it saw last summer. At the same time, the outlet noted that “the asset class has struggled to shake the stigma of being used primarily for illegitimate purposes.” The price of bitcoin was $3,410.62 as of 7:14 p.m. on Thursday (Jan. 31), according to CoinDesk.

Approximately $11 million in IOTA digital tokens, which was reportedly taken by someone in the United Kingdom, has been located, CoinDesk reported. While a group of organized hackers was thought to be behind the missing crypto, IOTA Co-founder and Co-chairman of the Board Dominik Schiener said, per reports, that it was one person “who had a normal job and is well-educated.” The person is said to have purloined $11.4 million worth of crypto, belonging to users around the world.

On another note, Boerse Stuttgart Group has rolled out a mobile app for digital currency trading in Germany called Bison, CoinDesk reported. The app lets users of Android and iOS devices trade Litecoin, bitcoin, Ethereum and XRP — as well as send euros to their accounts. The company’s blocknox GmbH subsidiary is said to take care of the digital currencies’ custody, while its EUWAX AG subsidiary is said to make the trades. As of the moment, users can only reportedly make trades from 6:00 a.m. until midnight.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.