CryptoCorner: Fit Pay, Inc. ( $NXTD) Issues New Video and FAQ for Flip™, Japan’s FSA to Crack Down on Crypto Exchanges, Binance CEO Suing Sequoia Capital China and Coinme Announces Expansion with Coinstar Bitcoin ATMs
Point Roberts WA, Delta BC, May 23, 2019 - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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May 23 Crypto Corner
Stocks discussed: (NasdaqCM:NXTD)
Fit Pay, Inc., a subsidiary of Nxt-ID, Inc. (NasdaqCM:NXTD), has issued a new product video and FAQ for its contactless payment device, Flip. Flip allows users to pay using Bitcoin (BTC) by exchanging for USD upon payment at millions of retail locations. The press release explains:
Flip's near field communication (NFC) antenna allows it to transact payments at any retail point of sale location that accepts supported contactless payments. Flip stores value exchanged from the user's compatible Bitcoin wallet into U.S. dollars. Flip includes a digital wallet to manage the exchange of Bitcoin to U.S. dollars and the loading of value on the device. Flip does not need to be charged. Non-fiat funds (i.e. cryptocurrency) must first be converted to U.S. dollars before those funds are loaded onto Flip.
Nikkei Asian Review reports that Japan’s Financial Services Agency (FSA) is increasing scrutiny on cryptocurrency exchanges ahead of an inspection from the Financial Action Task Force (FATF) this fall. The FATF is an intergovernmental organization geared toward combating money laundering and terrorism financing – two activities sometimes linked to cryptocurrency. The country is also chairing a G-20 summit in June this year, which will host discussions of crypto exchange countermeasures regarding money laundering and terrorism financing.
CoinDesk reports that Binance CEO Changpeng Zhao (CZ) is suing venture capital firm Sequoia Capital China for reputational damage. CZ claims that during Sequoia’s now-dismissed legal challenge to Binance last year, the latter was prevented from raising funds and suffered a tarnished reputation. CZ states in the new filing:
“The injunction order has caused loss to me for which I am entitled to reasonable compensation by Sequoia. In particular, I have suffered i) a loss of chance to raise capital through successive rounds of financing at increasing high valuations; and ii) damage to my reputation.”
Crypto ATM provider Coinme has announced that it has expanded operations of with Coinstar kiosks to over 2,200 locations, making it available in 21 states and the District of Columbia. Neil Bergquist, Coinme cofounder, and CEO, said:
“Bitcoin and other digital currencies offer unique benefits to consumers — including the potential for more cost-effective and faster remittances to family and friends. We’re thrilled to team up with Coinstar to make Bitcoin more accessible to consumers than ever before and offer a key component for the new digital currency economy.”
Sam Mowers, Investorideas
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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies ( GBT)
@GenesisBlockch , @GbtTechnologies
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange.You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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