Revolut may launch its own token, and the senatorial candidate is confident that the US needs to buy bitcoins
Media: Revolut intends to launch its own token
British fintech company Revolut may issue its own token, media reported, citing sources familiar with the startup’s plans. One of them noted that the company is working “on something sort of an exchange token like Binance Coin.”
The process of distributing Revolut tokens, according to the source, can be built in a similar way with the “native assets of the Wirex processing service and the cryptocurrency lender Nexo.”
Before issuing a token, the company will have to obtain approval from the UK Financial Conduct Authority (FCA). The second source added that the new Revolut product will target European customers and jurisdictions outside the United States.
“Revolut ($33 billion fintech giant) is launching their own token.
This is exciting, but also reminds me of 2017 when non-crypto native companies started launching tokens,” BlockWorksGroup founder Jason Janowitz wrote on Twitter.
Opinion: the US should buy bitcoins
It would be more correct for the United States to take the opposite position to China and buy BTC. This statement was made by Arizona senatorial candidate, Thiel Capital COO Blake Masters.
“China banned cryptocurrency last week.
Let’s do the opposite. The US government should buy a strategic reserve of Bitcoin — Fort Nakamoto, the new Fort Knox,” he said on Twitter.
Earlier it became known that the People Republic of China’s authorities finally banned cryptocurrency transactions in the state, and also announced plans to eliminate the slightest opportunity for the extraction of digital assets. This is stated in a statement by the Bank of China and 9 other government agencies.
“Whales” actively bought digital assets amid China’s actions
The inflow of funds into the cryptocurrency market has been increasing for the sixth week in a row. As noted in the CoinShares report, institutional investors continue to buy digital currency amid the market decline due to repression by the People Republic of China’s authorities.
Last week, investments in the cryptoindustry grew by almost 130% compared to the previous same period and amounted to $95 million. Investors invested $50.2 million in Bitcoin-based products, and $28.9 million on Ethereum.
Buying by “whales” of BTC began in May this year against the background of a sharp drop (by more than 33%) in the rate of the coin, when it fell to $30'000 for the first time since the beginning of the year. BTIG top manager Julian Emanuel then expressed the opinion that large investment funds were the key buyers of the first cryptocurrency during this period.
