Crypto Market Overview December 02nd | Dex-Trade
Crypto Market Overview – December 02nd, 2021
Croatian Supermarkets Launch Support for Cryptocurrency as a Means of Payment
From today, the largest Croatian supermarket chain Konzum will begin accepting payments from retailers and individuals for groceries and about 12,000 other household goods in Bitcoins and several other cryptocurrencies. CoinGape reports. It’s known that so far the crypto payment function is available only within the framework of online orders on the company's website. But Konzum has already announced plans to expand cryptocurrency payment options in its retail stores across the country in the coming months. Specifically, the company insists that crypto payments will be as simple as fiat payments: users simply have to select one of nine crypto payment options and scan a barcode to complete transactions. Already today, buyers can pay for their order in BTC, ETH, BCH, EOS, DAI, XRP, XLM, USDT and USDC. Konzum will work in partnership with local fintech company Electrocoin to simplify crypto payments at the retail online store. It’s reported to have developed a new cryptocurrency payment processor called PayCeck. The goal of this system is also to eliminate the risks of cryptocurrency instability, which will allow buyers to receive fixed exchange rates at the time of payment.
Crypto.com Buys Two Crypto Trading Platforms for $216 million
Crypto giant Crypto.com announced the purchase of almost 40% of shares of North American Derivatives Exchange Inc. [Nadex] and Small Exchange Inc from financial services firm IG Group Holdings Plc for $216 million in cash. According to the details of the deal, it’s expected to close in the first half of 2022, subject to regulatory approval. Crypto.com co-founder and CEO Chris Marshalek clarified in a company statement that the purchase "will give our customers access to an entirely new set of financial tools." For example, Crypto.com plans to use the Small Exchange as a gateway to trade certain derivatives, particularly for US clients such as futures. As for Nadex, it already supports derivatives retailing in some key global markets. “This deal supports IG’s strategic objectives by delivering a significant return on the previous investments made in Nadex and Small Exchange and now sharpening IG’s focus on growing and expanding the U.S. options and futures businesses.” — said IG Group CEO, June Felix.
Fidelity Launches Canada's First Spot Bitcoin Fund
US-based investment firm Fidelity Investments is launching a tradable Bitcoin ETF that will allow investors to directly trade Bitcoins rather than derivatives. CoinTelegraph reports. At the moment, the fund is still awaiting listing on the Canadian stock exchange. However, Bloomberg Senior ETF Analyst, Eric Balchunas, noted that if the Fidelity Advantage Bitcoin ETF will successful, it is likely to be the largest asset management firm offering Bitcoin services. Meanwhile, the US Securities and Exchange Commission (SEC) is still hesitant to approve the spot Bitcoin ETF, which many experts believe will be a hit at the market. The introduction of the FBTC in Canada could open the way for additional spot ETFs in the country's market and be a major boost to the global trend. Analysts believe that this would be a significant win for investors and traders, as such funds would allow them to have access to Bitcoins without necessity to purchase and store them on their own.