📈 Web3 TLDR: 💳 Mastercard Accelerates its Startup Accelerator Program
The Web3, NFT and Crypto Newsletter
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- 💳 Mastercard Accelerates its Startup Accelerator Program
- 🏹 Robinhood Still Bullish on Crypto Despite Drop
- 1️⃣ JP Morgan’s First DeFi Trade?
Job of the week
AND NOW THE NEWS
Mastercard Accelerates its Startup Accelerator Program
Mastercard continues supporting cryptocurrency and blockchain startups as part of its fintech accelerator, Mastercard Start Path.
Mastercard has selected seven industry startups to promote crypto and blockchain technology adoption in order to promote the adoption of crypto and blockchain technology, the company announced on November 3.
Fasset, Digital Treasures Centre, and Stable, the Colombian stablecoin-focused company, are among the firms that Mastercard has selected for its Start Path program. Mastercard teamed up with Fasset in July in order to jointly produce digital solutions to incentivize financial inclusion in Indonesia. Web3-focused social payments provider Loot Bolt, Quadrata privacy startup, Take Back the Mic blockchain-based media fintech project, and Uptop, a brand-oriented platform, are also included.
Written by: WarBiscuitNFT
Robinhood still Bullish on Crypto Despite Drop
In the third quarter of 2022, cryptocurrency revenue on the Robinhood trading platform dropped 12% compared to the previous quarter, despite the firm's CEO saying that the results will not temper his company's ambition to serve the market.
The CEO cited a 12% drop in monthly active users (MAUs) and a 24% drop in notional volume as the key contributors to a 12% decline in crypto revenue, which amounted to $51 million.
Customers continued to navigate volatile markets, the company stated in its quarterly report. Despite this, the company said it would continue to invest resources in the crypto market, including rolling out support for more cryptocurrencies, a new international retail-focused wallet, and NFT features on its platform.
Written by: WarBiscuitNFT
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AND BACK TO THE NEWS
JP Morgan’s First DeFi Trade?
JP Morgan Chase has executed its first-ever cross-border transaction using DeFi on a public blockchain, and it is a milestone to say the least for this bank who keeps flip flopping on it’s stance on crypto via their CEO Jamie Dimon. The trade was done through the Monetary Authority of Singapore’s (MAS) Project Guardian on Polygon on November 2nd, and was deemed a success. This was a pilot program which tested the use of tokens by a TradFi outfit to see how transactions can happen between the two entities, amongst other use cases.
WORLD! J.P. Morgan has executed its 1st *LIVE* trade on public blockchain using DeFi, Tokenized Deposits & Verifiable Credentials, part of @MAS_sg Project Guardian 🙌🚀🔥 Many world 1sts here, & since this is public ⛓ here’s a transparent🧵on what we did:
— Ty Lobban (@TyLobban)
Nov 2, 2022
The first image in this post says it all. Even as CEO Jamie Dimon loves to sucker punch crypto overall, his bank can’t miss opportunities in an areas where their investors can make money so they forge on, hoping to capture some revenue from this new endeavor. God Speed, JPMC. As for Jamie, meh.
One Last Thing...
Who else is long on the long paper receipt industry?
— WarBiscuit.nft (@WarBiscuitNFT)
Nov 3, 2022
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