Facebook’s Diem Launch
In early 2021, Facebook will launch its Diem stablecoin. The coin will be pegged to the U.S. dollar, and it is supported by an association made up of big-name brands including Spotify, Shopify, Uber, and Lyft.
Though there is no definite launch date for the Diem cryptocurrency, some sources expect that Diem will go live as early as January.
Coinbase’s IPO Sale
Coinbase, one of the largest cryptocurrency exchanges in the world, plans to run an initial public offering this year. This will make it the first major cryptocurrency exchange to offer shares on the stock market.
Once again, Coinbase has not announced a date for its IPO. However, most sources expect the stock will be listed in early 2021.
Ripple, creator of XRP, the third-largest cryptocurrency on the market, will face a lawsuit from regulators in 2021. The U.S. Securities and Exchange Commission argues that the company’s sales model constitutes an unregistered securities offering. Ripple plans to fight these charges.
It is not yet clear when the lawsuit will conclude. However, the SEC filed charges against Ripple on Dec. 22, meaning the case has already begun.
More PayPal Crypto Features
PayPal launched cryptocurrency buying and selling in November 2020. Right now, investors can only hold Bitcoin in their accounts. However, PayPal will probably introduce more extensive features in the first half of 2021.
Based on past statements, PayPal will likely announce support for spending cryptocurrency just like regular money. Plus, it will probably announce support for crypto trading through Venmo and support outside the U.S.
Visa’s Cryptocurrency Efforts
In 2020, payments giant Visa formed relationships with several crypto companies including Binance, Fold, BlockFi, Coinbase, and Circle. Visa says that it is “actively working with over 25 digital currency companies” on crypto-related products and services, including payment cards.
Though these partnerships may not reach all Visa cardholders, they are a sign that one of the biggest payment companies is interested in crypto. Visa will likely make further crypto announcements in 2021.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.