A lot of good things are happening in the exciting world of cryptocurrencies right now. That statement might be a bit hard to believe since you’ve been too focused about the market’s volatility, which is a very temporary phenomenon by the way as market forces will eventually achieve a state of equilibrium. It’s about time we’ll give you a round-up of the recent positive event to open up your eyes to the bigger picture.
Surprisingly, cryptocurrencies are still gaining in popularity despite the negative news floating around. For instance, Canada just approved a blockchain ETF, financial giant Santander bucks the trend by announcing Ripple-powered apps, and there is now a good chance that Bitcoin may be coming to the eBay platform.
Canada’s first blockchain exchange-traded fund ETF has now been approved by the Ontario Securities Commission. Canadian investment management firm Harvest Portfolios already filed the paperwork for its Blockchain Technologies ETF last month and is already set to launch on the Toronto Stock Exchange this week.
The investment vehicle will carry the ticker HBLK on the exchange as is aimed at providing Canadians the opportunity to enter the blockchain sector. In a statement, Harvest Portfolio its portfolio strategy as investing “in equity securities of issuers exposed, directly or indirectly to the development and implementation of blockchain and distributed ledger technologies.” In other words, the company will invest in blockchain-powered assets, such as cryptocurrencies.
While other countries have been adamant in blocking crypto trading, Canadians remain generally bullish on the segment’s long-term prospects. For instance, other companies have already expressed interested in putting up their own blockchain funds such as the Trust Portfolios Canada and the Evolve Funds Group Inc.
Meanwhile, the Spain-based banking conglomerate Santander Group is still a firm believer in the long-term prospects of cryptocurrencies, particularly with Ripple. The financial giant just launched a Ripple-powered app in four countries.
The bank had been testing the app and was used by its employees for 18 months before it was released to the public. The app works by integrating Apple Pay and can be used for payments between $14 and $14,000. The app will be initially released in Brazil, Poland, Spain, and the U.K.
The app will also showcase Ripple’s well known fast settlement speed. Customers using the app will be able to make same-day cross-border payments in less than a minute. In addition, the app provides a personal finance manager, a digital personal wallet, and assistance for person-to-person payments.
Meanwhile, the e-commerce scene has been shocked by the latest breakup of one of the longest-running partnerships in the industry. In a surprise announcement, eBay announced that it will be ditching Paypal as its primary payments processor and has named the relatively smaller, Amsterdam-based global payments company Adyen.
However, it looks like it won’t just be Adyen that will benefit from eBay’s sudden change of heart. Apparently, the payment company supports a lot of interesting payment methods, which (hold your breath now) also includes cryptocurrencies as well.
With all these recent positive developments, it would be totally your option if you still wish to feel depressed about the current state of affairs in cryptocurrency. The bottom line is, whatever their detractors say, cryptos are definitely here to stay.