BRIC: Brazil, Russia, India & China Common Crypto, Mozilla Accepts Bitcoin, TOBA SLP Token Airdrop

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. BRIC proposes cryptocurrency-based payment system for settlements. Cashaa will offer US bank accounts for crypto firms. SLP exchange Cryptophyl to airdrop electric bike TOBA token. Grayscale presents XRP informative primer. Mozilla accepts Bitcoin Cash and BTC donations, and China denies having issued central bank digital currency yet.

BRIC Proposes Crypto Payment System

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The BRIC group is proposing the implementation of a payment system that would use a common cryptocurrency to settle between these nations, during an annual summit in Brazil. Brazil, Russia, India and China would use this new cryptocurrency to conduct financial transactions between them, undermining the use of traditional systems like SWIFT, which lets countries like the US monitor transactions and interfere in these if there is a country under sanctions, for example.

Cashaa to Offer US Banking Services to Cryptocurrency Firms

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Cashaa, a bitcoin banking platform, is planning to offer US-based bank accounts to cryptocurrency firms having a difficult time getting such services from traditional institutions. The Metropolitan Commercial Bank will be providing this service in partnership with Cashaa. Companies would have to pay a one time fee of $1,500 to get the account service. Janina Lowisz, Cashaa’s co-founder, stated their goal was to “create a hassle-free experience for all businesses who are building new technologies and business models.”

Cryptophyl New TOBA Token Airdrop

Cryptophyl, the original SLP token exchange, will airdrop and list a new token for its users. TOBA is the official token of Toba Electric Bikes, and 345,000 of these tokens will be delivered to holders of DROP, Cryptophyl’s own token, today. The token will also be distributed to electric bike owners. TOBA can be exchanged for electric bikes or used to discount the price. Semyon Germanovich, CEO of Cryptophyl, declared this “is the first time a physical product has been paired with a Bitcoin Cash-based token to create value for users.”

Grayscale Issues XRP Informative Primer

Grayscale, the cryptocurrency investment startup, issued a report about XRP, the cryptocurrency used by Ripple in many of its products. While being criticized for its apparent centralization, XRP is currently one of the pivotal cryptocurrencies used by the Ripple company to power some of its services oriented to financial institutions and banks. Grayscale explains how Ripple came to be and its special features compared with other cryptocurrencies in its primer, part of the Building Blocks educative series.

Mozilla Now Accepts Bitcoin Donations

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Mozilla, the open-source software company behind the Firefox browser and Thunderbird email client, accepts donations in Bitcoin Cash and BTC. The options can be found on a separate page using BitPay, one of the most popular crypto payment processors, to receive donations instead of on the group’s traditional donation page. Will Easton, Mozilla’s lead of fundraising and email strategy, commented the system was working fine, but that they were ironing some kinks and problems to add the option on their main donations page.

China Denies Having Issued Digital Currency

The People’s Bank of China denied the issuance of any central bank digital currency, dispelling some rumors pointing in that direction. The bank declared they are still studying their cryptocurrency options, and that they have not released any schedule on the subject, indirectly contradicting reports circulating online pointing to an imminent release. However, PBoC has recognized they are indeed working in a digital currency called Digital Currency Electronic Payment to be released soon.

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