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Luxury watchmaker TAG Heuer inks deal with BitPay to accept crypto online in the US

Luxury Swiss watch brand TAG Heuer will now accept cryptocurrency as payment on US websites.  TAG Heuer will accept 12 cryptocurrencies at checkout, including Bitcoin, Dogecoin, Ethereum, Litecoin, Shiba Inu, and 5 USD-pegged stablecoins. The brand will work with the support of BitPay, a bitcoin payment services provider, on transactions up to $10,000, with no minimum spend required. BitPay works by converting cryptocurrency to fiat money, which is ultimately what TAG Heuer receives. “We have been following cryptocurrency developments very closely …

Revolut’s planned native token will reward customer loyalty, Storonosky says

Revolut’s planned native crypto token will aim to reward customers for their loyalty, CEO Nik Storonosky said in an interview, in which he also shared details on the neobank’s forthcoming non-custodial wallet. Speaking to The Block at the Finance FWD conference in Hamburg, Storonosky said the long-rumored native token — which some have dubbed “Revcoin” — will function in a similar way to airline Air Miles programs, where users earn rewards based on how often they use the service. “It …

Bitso officially launches its app in Colombia

Latin American cryptocurrency exchange Bitso has officially launched its app in Colombia, allowing its residents to load pesos into their wallets using a widely-used online payment system connected to the country’s major banks. The company announced its expansion into the South American country in February and has been working on a pilot program for cash-in and cash-out operations with Banco de Bogotá. But now, Bitso’s product is officially available to the wider Colombian public. Using a popular online payment method …

Block details expanded Bitcoin efforts at 2022 Investor Day

Block is no longer just a payments company, according to Block Head Jack Dorsey. But if the firm’s 2022 investor day is any indication, it’s certainly looking to be a Bitcoin company. Dorsey touted Block’s latest approach to its products as an “ecosystem of ecosystems.” Bitcoin is one such ecosystem the firm is pouring resources into. Block Finance lead Amrita Ahuja said the firm sees a $3 billion gross profit opportunity for bitcoin consumer trading. “We think we’ve just scratched …

Meta files five trademark applications for ‘Meta Pay’ teasing crypto and digital payment platform

Quick Take The social media giant has submitted trademark applications for a digital assets trading and payment platform called Meta Pay. Meta previously acquired the Meta Pay corporate brand from a US bank for $60 million last year. Meta, formerly Facebook, has submitted five trademark applications in the United States for what appears to be new digital platform dubbed Meta Pay. The trademark applications, filed on May 13, described Meta Pay as an “online social networking service for investors allowing …

Nigeria’s markets regulator publishes set of rules for digital assets

Nigeria’s markets regulator has published 54 pages of regulations for digital assets, as the country may be stepping back from an earlier ban on cryptocurrencies. Last February, the Central Bank of Nigeria (CBN) issued a letter telling regulated financial institutions in the country to “immediately” close accounts connected to cryptocurrency-related activities, The Block reported at the time. Still, Nigeria’s young, tech-savvy population has eagerly adopted cryptocurrencies, often using peer-to-peer trading offered by crypto exchanges to avoid the ban, Reuters noted …

Emirates Airline to accept bitcoin as payment method: Arab News

Dubai-based airline Emirates will “employ bitcoin as a payment service” as part of a push toward embracing blockchain and metaverse projects, according to a May 11 report from the Saudi Arabian news outlet Arab News.  Speaking at the Arabian Travel Market trade show in Dubai, Emirates’ COO Adel Ahmed Al-Redha told press that the carrier will be hiring up staff to work on metaverse and NFT-related projects and focusing on bitcoin payments. “The executive revealed that Emirates plans to employ …

What the OCC’s consent order to Anchorage means for the crypto industry

Quick Take The Office of the Comptroller of the Currency levied a consent order against crypto bank Anchorage at the close of last month, criticizing the firm anti-money laundering practices. What should other crypto firms take away from the development? This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

WisdomTree positions its forthcoming crypto wallet to serve ‘the next 2 billion’

US asset manager WisdomTree hopes its forthcoming consumer-facing crypto wallet will offer an approachable experience for less tech-savvy users intimidated by the current crop. The smartphone-based wallet, known as WisdomTree Prime, was announced in January and will have a limited US launch this summer before a full roll-out across America next year, Jason Guthrie, Wisdomtree’s European head of digital asset product and head of digital assets, said in an interview with The Block. WisdomTree Prime represents a first foray into …

Revolut’s new crypto head departs as it gears up for digital assets push %

Revolut’s head of crypto has left the company for an as-yet unannounced destination.  Jean Meyer joined the neobank last September as part of Revolut’s first acquisition of start-up Wanted, a recruitment marketplace. He progressed from head of product to head of crypto in January, according to his LinkedIn page. Meyer replaced the incumbent head of crypto, Ed Cooper.  Sources familiar with the matter said Meyer had taken over the post from Cooper months before it appeared on LinkedIn.  While Meyer …