The latest cryptocurrency updates for July 2020, it’s been an interesting moth for Binance Coin and Ethereum.
It’s been an interesting few weeks for Binance Coin; the cryptocurrency has gained 17% on Bitcoin which means altogether Binance Coin has gained roughly 20% on Bitcoin in July 2020 alone.
Binance Coin is not the only Cryptocurrency to see improvements; Ethereum, the second most valuable cryptocurrency after Bitcoin, has almost doubled in value so far this year. Reports show that the number of active Ethereum addresses have grown at nearly twice the rate of Bitcoin’s.
The Governor of the Bank of England (BoE), Andrew Bailey revealed Britain’s plans to introduce a Central Bank Digital Currency (CBDC).
A CBDC would allow households and businesses to directly make electronic payments using money, issued by the Bank of England.
The BoE has also said in a previous statement that if a CBDC were to be introduced, it would be denominated in pounds sterling, just like banknotes. So, £10 of CBDC would always be worth the same as a £10 note.
So how does this affect online payment platforms? PayPal has confirmed that it is working to bring crypto capabilities on its platform:
“As an innovative FinTech company and by virtue of its mission, PayPal is monitoring the evolution of the crypto-asset space,” the payments company noted.
Evertas, an insurance provider focused on the Cryptocurrency space, has raised $2.8 million in a seed round led by Morgan Creek.