BitPay Expands DeFi Options In Wallet App

BitPay, the world’s largest provider of bitcoin and cryptocurrency payments, has paid for WalletConnect, which will allow access to the decentralized finance (DeFi) space, according to a press release. WalletConnect will be integrated into the BitPay Wallet app.

WalletConnect is an open source protocol for connecting decentralized applications by scanning QR codes. It will let BitPay Wallet users send or receive DAI and WBTC ethereum tokens, the release stated.

In other news, digital investment platform Bitpanda has introduced a Visa debit card to let customers switch between multiple assets, including cryptocurrencies, to fund payments, according to CoinDesk.

The card will also let customers switch to fiat currency or precious metals, the report noted.

Bitpanda said the card will be linked to any asset in a user’s portfolio and can be selected on the platform, according to the report. The idea, according to Bitpanda Co-Founder and CEO Eric Demuth, is for consumers to be able to spend their investments anytime they want.

Meanwhile, investors are worried that the bitcoin mania is starting to recede as a market bubble encourages investors, Bloomberg reported.

The largest cryptocurrency saw its price fall about 8.4 percent on Wednesday (January 20), trading below $ 34,000.

The market has seen bitcoin soar late, peaking in early January. But there was also suspicion that the runoff was excessive, and analysts said recent gains could be short-lived if the rally stalls and traders eventually put their money elsewhere, according to Bloomberg.

Finally, Firo, an anonymous cryptocurrency formerly known as Zcoin, has been the latest proof-of-work coin to suffer a 51 percent attack, according to a report by Cointelegraph.

Firo tweets as much on Wednesday, saying that holders should delay all transactions until the network returns to normal.

According to Cointelegraph, the attack, which has ended, was revealed when some users started reporting that their previously confirmed transactions had changed to unconfirmed, which was apparently the result of a blockchain reorganization attack .

Binance CEO Changpeng Zhao said the reorganization had caused the return of 306 “orphaned” blocks and transactions from the previous day, the report said.



About: January 2021, Retail Banking Services Paradigm Change Report, PYMNTS explores how consumers choose to engage with their FIs when accessing information about various products and services, especially since the start of the pandemic.