tl;dr
• Forbes Fintech 50 company Paxos in another deal to bring crypto services to Brazil's PicPay users• Japan's Shinsei Bank looking to reward clients with Bitcoin and XRP• Samsung cuts deals to bring real-world utility to its NFT ecosystem• Huobi founder, Leon Li, is looking to shed 60% of his holding...
• Forbes Fintech 50 company Paxos in another deal to bring crypto services to Brazil's PicPay users
• Japan's Shinsei Bank looking to reward clients with Bitcoin and XRP
• Samsung cuts deals to bring real-world utility to its NFT ecosystem
• Huobi founder, Leon Li, is looking to shed 60% of his holdings with Sam Bankman-Fried of FTX and Justin Sun of Tron looking to get in on the action
• FTX and Paradigm are in a deal to bring futures spread trading on digital assets products for the users of both platforms
It has been a crazy few days as many top cryptos have hit recent highs. There is some profit-taking at the moment, but here is what is on my mind today.
1. Just a few days ago I told you about a deal between Interactive Brokers and Paxos to be additional crypto tools to Register Investment Advisors (RIAs). Now Paxos is in bed with Brazilian payment app, PicPay. The deal will enable PicPay's customers to buy, sell and store Bitcoin and Ethereum. There is a reason my Paxos was listed on the Forbes Fintech 50 list.
2. XRP may still be fighting the SEC, but a bank in Japan, Shinsei Bank, is looking to offer XRP and BTC as a reward in a new marketing campaign. The rewards will go to customers meeting specific criteria, such as opening new accounts or make specific transactions. Rewards can go up to 8,000 Japanese Yen worth around $60. Things like this make me say XRP will be ready for a major lift up once the SEC lawsuit concludes and US exchanges re-list the coin.
3. Global brand, Samsung is about to bring some serious utility to the NFT space after singing a memorandum of understanding (MOU) with several retailers to bring real work utility to Samsung NFT holders. They will be able to access perks and discounts when they purchase specific devices, like the Galaxy S22 and the Galaxy Tab S8. The retailers include south Korean brands Samsung Digital Plaza, Shilla Duty Free Shop, Show Golf and E Cruise.
4. There is going to be a major winner in the Huobi deal as the founder of crypto exchange Huobi Global, Leon Li, is in discussions to sell nearly 60% of his investment in Huobi. Imaging if FTX was able to get involved with one of the world's largest exchanges. Tron founder, Justin Sun, is also said to be in talks. One would imagine there is going to be a major premium when the deal or deals are finally done.
5. FTX and Paradigm, a digital asset investment firm, enter into a partnership to create a futures spread trading products for the users of both companies. Paradigm says users will be able to trade the spread between spot, perpetual and fixed maturity futures on eight digital assets - Bitcoin, Ether, Solana, Avalanche, ApeCoin, Dogecoin, Chainlink and Litecoin. These "cash and carry" trades will carry across the FTX and Paradigm platforms. Again, another move by FTX to expand its offerings in a very traditional sense and increase their reach to more users.