Each week, we bring you the most important news about cryptocurrencies and the blockchain. After all, information is the key to success in the market.
Today, we’re talking about the expansion of cryptocurrencies into the world of fiat money and the other way around – the launch of Audi NFT tokens and the integration of Chinese digital currencies into Beijing’s ecosystem.
The world’s largest cinema network will start accepting Bitcoin by the end of the year
AMC Entertainment, a network of almost a thousand cinemas around the world, will accept cryptocurrencies as a means of payment. By the end of 2021, it will be possible to pay for tickets on the network's website. CEO Adam Aron promises to eventually add the option of paying with Bitcoin via Google Pay and Apple Pay.
According to Aron, the company's investors "are enthusiastic about cryptocurrency." During a press conference held on August 9 and timed to coincide with the release of AMC Entertainment's financial report for the second half of 2021, he announced that the company’s losses have decreased. This caused a stir on the stock exchange, with share prices rising by 4%.
German auto manufacturer Audi will launch proprietary NFT tokens
Audi will launch its first series of non-fungible tokens based on the xNFT protocol, targeting the Chinese market.
The company announced its decision to enter the NFT market through the Chinese social network Weibo. Tokens will be based on the xNFT platform, which allows users to sell coins at a fixed price, put them up for auction and automatically calculate the value of each NFT, taking into account recent sales of similar currencies and information about the issuer.
Audi is no stranger to the crypto market. The company actively supports blockchain startups, including the Holoride project, which develops technologies to improve entertainment capabilities within various vehicles. Holoride uses blockchain and NFT to support its service.
The Coinbase exchange adds the option of directly buying cryptocurrencies with Apple Pay
Owners of Apple smartphones will be able purchase cryptocurrencies using cards linked to their Apple Wallet. In other words, funds on your Visa or MasterCard can now be used to buy Bitcoin, Ethereum, or even DOGE coins. Previously, this feature was only available to holders of the Coinbase card who added it to Apple's payment system.
The exchange promises to add the option of paying via Google Pay this fall. The feature will be available to owners of smartphones based on iOS and Android from more than 20 countries.
Beijing fully integrates digital yuan into the city’s ecosystem
From August 1, residents of the Chinese capital can use the digital yuan to purchase subway tickets. They can do this by downloading a special application with similar features to WeChat Pay and Alipay.
The Chinese authorities plan to introduce the digital yuan (a national currency, with an exchange rate equivalent to the “regular” yuan) before the Olympic Games in 2022. The largest Chinese companies (including Huawei and several banks) already use it. The currency is being actively tested in Shenzhen, Suzhou, Chengdu and Xiong'an. The penultimate stage of testing the digital yuan will take place in Shanghai, Beijing and Hainan Island. Residents can now pay for food delivery, taxi rides, lunch at restaurants, and streaming subscriptions with the cryptocurrency. At the final stage of verification, e-CNY (the official name of the new currency) will become available for international transfers.
Alchemy Pay crypto-fiat platform launches virtual crypto cards with over 40 cryptocurrencies
The cards can be linked with PayPal and Google Pay wallets using the Visa and MasterCard systems. The crypto cards will be accepted by major online retailers, small online stores and services. The service is currently available in 65 countries, accepting over 300 crypto tokens and fiat currencies.
The technology is currently in a beta testing stage. The cards are expected to be released to a wide audience in early 2022. According to Alchemy Pay, this will help promote the "expansion" of cryptocurrencies into conservative markets. The method is likely to be successful – similar crypto cards have already been used for transactions exceeding a billion dollars in the United States.