TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Genesis Capital acquires Vo1t custody company. Blockchain.com will offer interest on Bitcoin accounts. STEEM hard fork seizes $5 million from users. Shopify partners with CoinPayments. Coinbase CEO Brian Armstrong prefers alternative media channels, and Crypto.com will expand its card services to Canada.
Genesis Capital Acquires Vo1t Custody Company
Genesis Capital, a crypto lending company, acquired London-based custody firm Vo1t to get into the institutional-grade custody business, now dominated by a few key players. Genesis CEO Michael Moro states this was a strategic step to offer their customers a full suite of products under just one brand. “My view on the custody space is that it’s not a great stand-alone business. There’s a lot of competition,” he insisted. However, Genesis will treat custody as an accessory service instead of making it the focus of its product offering.
Blockchain.com to Offer 4.5% for BTC Accounts
Blockchain.com, one of the biggest wallet providers in the crypto environment, announced plans for offering up to 4.5% on BTC deposits for its users. While the company stated the first version of the product will only support BTC, the team hopes to grow the offer to include other popular cryptocurrencies such as ether and tether in the future. This is part of a complete revamp the company is having to compete with other players like BlockFi, a cryptocurrency lender offering interest accounts for several cryptocurrencies.
STEEM Fork Goes Accordingly; $5 Million Seized
The STEEM hard fork proposed by current STEEM witnesses has been completed, effectively seizing $5 million from other witnesses who separated to create Hive. While an anonymous “double agent” tried to save these funds by transferring them to Bittrex, the plan was foiled. The exchange declared it will deliver the funds according to what was planned in the hard fork. “We need to adhere to the consensus rules of the blockchain without interjecting whatever our personal opinions might be,” Bittrex PR statement informs.
Shopify Partners With CoinPayments to Feature More Crypto Payment Options
Shopify, the Canadian e-commerce software provider, partnered with CoinPayments, a cryptocurrency payment processor, to add more cryptocurrency to its payment options. CoinPayments features support for more than 1,800 cryptocurrencies, and users of the platform will be able to configure their sites to accept these as payments, to eliminate any friction with paying with a local or not so known cryptocurrency. Previously, Shopify had also entered an arrangement with BitPay to use its services as a payment processor.
Brian Armstrong Explains Why He Prefers Alternative Media
Trend I'm noticing: most execs/CEOs don't want to speak with mainstream media as much as they did even a few years ago. Our customers are on YouTube/podcasts/social media – not reading mainstream media. And companies are able to control their own distribution channels.
— Brian Armstrong (@brian_armstrong) May 21, 2020
Brian Armstrong, CEO of Coinbase, the most important US-based crypto exchange, clarified why he prefers alternative media channels over traditional outlets. “Publishing to our own blog/twitter/YouTube let’s us say what is on our mind and talk to our customers – not get one quote in an otherwise balanced (or sometimes outright mean/snarky) article,” he stated. Armstrong prefers to have a direct line of communication with users using alternative media that caters to most of the userbase of exchanges and crypto companies.
Crypto.com Will Expand Card Services to Canada
Crypto.com, a cryptocurrency and payments platform, announced they are expanding its cryptocurrency card business to Canada, after receiving regulatory approval from the government. Crypto.com cards can use a variety of cryptocurrencies to be spent in traditional stores that don’t take cryptocurrency payments yet. Crypto.com stated its official wallet app features a 3-minute onboarding process that includes KYC procedures. Crypto.com expanded to offer its services in Europe and the US last year.
CONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.