This Week in Cryptos: Blockchain Week in NYC Begins While Facebook Allows Crypto Ads Again

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This Week in Cryptos: Blockchain Week in NYC Begins While Facebook Allows Crypto Ads Again

Key highlights

  • Blockchain Week in NYC begins
  • Abra adds thousands of banks
  • Facebook allows crypto ads again
  • Ask Figure closes USD 1 billion credit line
  • Fidelity to launch crypto trading soon

Blockchain Week in NYC begins

This week, all eyes are going to be on New York City as leading blockchain brains assemble for the blockchain week. New York City Blockchain Week will runs from May 10th to May 18th with hundreds of events drawing people from around the world to share in the exploration of new innovations. It is a rare opportunity to meet global blockchain leaders with dozens of events being held to this aim. This year headline speakers include FedEx’s Fred Smith, Fidelity’s Abigail Johnson, Twitter and Square’s Jack Dorsey, chairman of the U.S. Securities Exchange Commission, Jay Clayton, and U.S. presidential hopeful, Andrew Yang.

Abra adds thousands of banks

Abra has been one company that is progressing rapidly as the cryptocurrency wallet/investment app now allows that users will now be able to connect their accounts with thousands of U.S. banks. While U.S. and EU users have been able to fund their wallets through a bank transfer, they will now be able to directly connect their bank(s). In addition, users will be able to withdraw DGB, DOGE, DASH, BAT, NEO, ZEX, OMG, QTUM, VTC, ZEC, ZEC, GNT, STRAT, REP, and SNT in addition to the other coins already on the platform.

Facebook allows crypto ads again

Facebook has had a very funny relationship with cryptocurrency as the tech giant has been moving back and forth on its cryptos ads ban. In another reversal of its decision, Facebook announced on May 8 via a blog post that it is relaxing its policy on ads related to cryptocurrency, blockchain technology, and financial products and services. The policy change allows more business in the mentioned sectors to promote their work on the social media platform which has over 2.3 billion monthly active users.

Ask Figure closes USD 1 billion credit line

According to a press release issued May 9, 2019, Figure Technologies in conjunction with Jefferies and WSFS Banking Services recently completed a $1 billion asset-based loan facility on the Provenance blockchain. The partnership will see Figure’s Provenance blockchain handling the full spectrum of loan financing for dealers, funds, banks to mention a few. Jefferies will provide advances to Figure on a periodic basis via a variable funding note secured by Figure’s home equity division. The $1 billion loan facility will be domiciled on the Provenance blockchain – a distributed ledger technology (DLT) engineered by Figure Technologies.

Fidelity to launch crypto trading soon

Another wall street giant is all set to enter cryptos. US-headquartered leading global financial services company Fidelity Investments will soon start offering Bitcoin trading – buy and sell – feature as part of its products and services. Earlier this year, Fidelity Investments, one of the largest asset managers in the world, had started custody services to store Bitcoin. The company in its market research found that 47% of institutional investors think digital assets as worth investing in.

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This Week in Cryptos: Blockchain Week in NYC Begins While Facebook Allows Crypto Ads Again
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This Week in Cryptos: Blockchain Week in NYC Begins While Facebook Allows Crypto Ads Again
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Blockchain Week in NYC begins Abra adds thousands of banks Facebook allows crypto ads again Ask Figure closes USD 1 billion credit line Fidelity to launch crypto trading soon
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Author: Abhinav Agarwal

A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com

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Abhinav Agarwal 107 Articles

A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com

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