Our first news roundup for 2023 includes some interesting stories from the last couple of weeks including Visa auto-payments, an Indonesian National Crypto Exchange, virtual trademarking and more.
Visa Announces Auto-Payment Feature for Self-Custodied Cryptocurrency Wallets
Visa plans to allow users to pay recurring bills using Ethereum through auto-payments on StarkNet, a Layer 2 scaling solution. The payments would be initiated by merchants and users can customize them with limits or other preferences.
Typically, Ethereum is designed for “push payments”, requiring that users actively initiate a payment transaction. The new feature would shift this to “pull payments”, allowing users to maintain custody of their assets while paying bills, which is a key aspect of decentralized finance.
Indonesia to Establish National Cryptocurrency Exchange in 2023
As part of its efforts to reform cryptocurrency regulation, Indonesia will launch a cryptocurrency exchange in 2023. The exchange is planned to be launched prior to the shift of regulatory power from the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti) to the Financial Services Authority (FSA).
The head of Bappebti, Didid Noordiatmoko, stated that the exchange should be set up this year as part of a broader financial reform launched in December 2022.
Fidelity Seeks Trademarks for Virtual World Services as it Expands into Cryptocurrency
Fidelity has filed three trademark applications in the US to offer services in virtual worlds and the metaverse. The firm intends to bring its traditional services to alternate realities, including NFTs and NFT marketplaces, virtual real estate investing, cryptocurrency trading, and metaverse investment services.
Fidelity has been quicker than other large investment companies to embrace digital assets, announcing plans in October to hire 100 more employees for its digital asset team, bringing it to 500. In November, the firm also began offering commission-free retail cryptocurrency trading accounts.
Scottie Pippen's NFT Collection Sells Out in Record Time
NBA Hall of Famer Scottie Pippen's NFT project sold out this week in just 77 seconds. The "Scottie Pippen SP33" drop consisted of 1,000 unique NFT metaverse-wearable sneakers, which sold for 0.2 ETH ($241) each.
The project has generated 211 ETH ($255,000) in trading volume since December 21 and the floor price has increased to 0.42 ETH ($507). A small number of randomly selected holders will also receive physical pairs of sneakers and opportunities to play golf with Pippen, and one individual will be given a tour of Pippen's hometown and dinner.
The NFTs were created in collaboration with Web3 entertainment company Orange Comet, which also produced a collection for Sir Anthony Hopkins that sold out in seven minutes.
Polygon Unveils NFT Debit Card as Next Web3 Venture
Polygon blockchain has partnered with neobanking app hi and Mastercard to launch a platform that allows customers to create customized NFT debit cards for web3 payments. The new NFT Debit Mastercards can be used at 90 million merchants worldwide to make purchases with cryptocurrency or fiat currency.
NFT Debit Mastercard holders can also personalize their cards with Polygon-based NFTs without incurring gas fees.
NFA DYOR (Not financial advice. Do your own research.)