DUBAI/RIYADH: Bitcoin, the leading cryptocurrency in trading internationally, traded higher on Wednesday, rising by 0.46 percent to $46,093.22 at 4:27 p.m Riyadh time.
Ether, the second most traded cryptocurrency, traded at $3,226.45, up 1.33 percent, according to data from CoinDesk.
Other crypto news:
CoinBase, the largest cryptocurrency exchange platform in the US, posted $1.9 billion in transaction revenue, growing 8.8 million monthly transacting users and 86 million users during the second quarter of the year.
The figure exceeds analysts’ expectations at $1.57 billion in transaction revenue, CoinDesk has reported.
The publicly listed company said it was working with the PNC Bank, the fifth-largest bank in the US, on an undisclosed crypto currency project.
“In recent months, we have formed partnerships with industry leaders including Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC, and WisdomTree Investments,” Coinbase said in a statement.
In Europe, a remittance corridor has been opened between 27 countries and Thailand on the Stellar blockchain technology.
The remittance market between the EU and Thailand connects 600 million customers, and is worth $17 billion, according to Velo Labs, which is building the network.
In the US, senators voted 50 to 49 along party lines to support President Joe Biden’s $3.5 trillion agenda, which includes a $1 trillion infrastructure plan that was criticized by crypto supporters.
The bill includes provisions for tax reporting in the cryptocurrency industry.
The Central Bank of Nigeria wants its digital currency proposal to be classified as “critical national infrastructure.”
The move is aimed to protect the plan from operational and cybersecurity risks, according to a report by Bitcoin.com.
PayPal service Venmo is introducing a feature that allows credit card customers to buy four types of cryptocurrencies with their cash back, without paying transaction fees.
US-based cryptocurrency services company Circle announced its intention to become a full-reserve national commercial bank. This will put the company in a unique position to link blockchain and traditional finance, according to Bitcoin News.