19. October 2020 | 10:24 CET
Wirecard, Paypal, BIGG Digital Assets: Crypto - soon normal means of payment?
The crypto world is constantly developing, and the user numbers are increasing considerably. The more the discussion about the abolition of cash takes shape, the more people are interested in a liquid alternative means of payment. Even if system critics hold on to gold, once certain acceptance hurdles have been overcome, cryptocurrencies must be said to have grown rapidly. In 2016 there were less than 10 million registered wallets with cryptocurrencies, since the end of 2019 this number exploded to over 40 million, an increase of 300% in three years. Compared to other key figures, especially concerning the Bitcoin exchange rate, this number seems low, but there is an anticipation of further growth.
time to read:
ISIN: CA0898041086 , US70450Y1038 , DE0007472060
Born in Munich, he first studied economics and graduated in business administration at the Ludwig-Maximilians-University in 1995. As he was involved with the stock market at a very early stage, he now has more than 30 years of experience in the capital markets.
Wirecard - Offline in Singapore
Even if investor interest in Wirecard is steadily waning, the adverse agency reports will probably continue to accompany us for months to come. The abrupt end of Wirecard's billing services has caused chaos among retailers, restaurants and hotels, especially in Singapore. Providers were caught unprepared, on the assumption that the systems would continue to operate for the time being despite the insolvency of the provider. Unfortunately, this is not the case.
Former Wirecard customers can now no longer accept credit card payments and are also experiencing massive problems with the billing of current contracts. After the insolvency, a regulated continuation of operation is probably no longer guaranteed. Irrespective of this, the Wirecard share price rose by 17.7% to EUR 0.697 on Friday - it is fascinating which rallies "shares believed to be dead" conjure up again and again.
Paypal - Steadily forward
Paypal now has over 320 million customers who pay with their email address. Recently the voices become ever louder after integration of the crypto world. PayPal has now confirmed its work on crypto payment functions, as can be seen in a letter from the payment giant to the European Union. The document was initially delivered in March this year and can be viewed on the website of the European Commission. It was a response to the EU consultation process to create a framework for cryptocurrencies and digital assets.
In the letter, PayPal confirmed that the payment giant's mission is to democratize access to financial services and the digital economy worldwide. Its recently applied for license to provide banking and payment services in Luxembourg, is an example of how the online payment service provider is increasingly focusing on the banking world. Wall Street investors are confident that PayPal will announce the support of Bitcoin & Co. before the end of the year. The share has itself, since the March correction, smoothly doubled.
BIGG - Crypto security and trade under one roof
The Canadian security and IT company BIGG Digital Assets specializes in creating a secure environment for trading cryptocurrencies. However, for a few weeks now, BIGG has been not only one of the leading developers of blockchain technology solutions for search, risk assessment, and data analysis, but also the operator of its own crypto platform called "Netcoin", based in Vancouver (BC). The Company is registered since 2015 and specializes in trading the 7 most liquid coins. The approval procedures for the first fully legal and accessible trading platform for Canada are already underway. The Company expects a positive conclusion in 2020 and relies on the security functions of the Blockchain Intelligence Group (BIG) to make trading secure and traceable.
Recently, it has also become known that the Company has signed another 1-year contract with a US federal authority, not mentioned for legal and tactical reasons, worth 320,000 CAD, for the delivery of QLUE licenses. Here again, the Company has succeeded in landing the agency's budget to support the prosecution of criminal activities related to cryptocurrencies and blockchain security. There can be no better "proof of concept" for BIGG.
The enterprise is thus already very well set up since one offers now not only software for forensic investigations, but also at the same time a modern platform, which makes the legal entrance into the crypto world only correctly palatable to potential customers. After the approval of the Netcoin platform, we expect a strong inflow and increasing sales in the group in the coming months. It is to be expected that a second significant upswing in crypto assets is imminent due to increased scepticism about traditional means of payment. BIGG will be able to profit significantly from this trend.