Bitcoin trading above Rs 24 lakh

Cryptocurrencies traded in the red early on June 11. The global crypto market cap is $1.19 trillion, a 2.91 percent decrease over the last day. The total crypto market volume over the last 24 hours is $67.62 billion, which makes a 11.34 percent increase.

Cryptocurrencies pose 'huge risk' to financial stability: RBI Guv Shaktikanta Das

Mastercard to allow NFT purchases with cards

Payments giant Mastercard has tied up with a raft of crypto marketplaces to allow its cardholders to pay for the purchase of Non-Fungible Tokens (NFTs). Mastercard is working to enable NFT commerce with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure provider MoonPay.

“We’re working with these companies to allow people to use their Mastercard cards for NFTs purchases, whether that’s on one of these companies’ marketplaces or using their crypto services. With 2.9 billion Mastercard cards worldwide, this change could have a big impact on the NFT ecosystem. Buy the NFTs you want on the marketplace of your choice. No need to buy crypto first,” Raj Dhamodaran, executive vice president at Mastercard, wrote in a blog. Take a look

OpenSea to step up efforts in preventing scams, thefts

Days after NFT trading platform OpenSea’s former executive was charged for insider trading of the digital assets, the company’s co-founder and CEO Derin Finzer has committed to step up efforts in preventing thefts, scams, and IP infringements on the marketplace. Finzer in a blog post said while plagiarism, IP infringements, and thefts are prohibited under OpenSea’s Terms, “at our scale, comprehensive policies aren’t enough”. He said the company recently launched a new verification system that identifies authentic accounts and content more prominently to keep scammers out and that OpenSea’s copy mint prevention system is the most sophisticated spam and fraud reduction tool the company has built. Read more here

Most US retailers give high priority to enabling crypto payments: Deloitte

More than 85 percent of US retailers give high or very high priority to enabling cryptocurrency payments, given the significant interest in digital solutions among the younger generations, a survey by Deloitte has shown. Roughly 83 percent are doing the same for stablecoins.

Almost three-quarters of US retail executives surveyed reported plans to accept cryptocurrency or stablecoin payments within the next 24 months, Deloitte said in a report titled Merchants getting ready for crypto, prepared in collaboration with PayPal. The poll was focused on US consumer businesses with annual revenue ranging from below $10 million to $500 million and above. The survey polled 2,000 senior executives at retail organisations across the US between December 3 and December 16, 2021, with all respondents from the consumer goods and services sector. Read more here