Author: Boboye Adeyemi

Tether Joins the Polygon Network with Introduction of its Stablecoin

Boboye Adeyemi

Tether has further stretched the company’s reach and influence with the introduction of a dollar-pegged stablecoin (USDT) on the Polygon Network, a deal that extended the stablecoin to over 11 blockchain networks. Through its relationship with Tether, the Polygon ecosystem is expected to have a stable currency for investors, which will help generate yield in and out of the network. This will all be achieved through the integration of Tether’s stablecoin USDT, which is tied to 1:1 to the U.S. dollar and has a market capitalization of about $73 billion.…

The NFT Fever Seems to Have Caught up With YouTube

Boboye Adeyemi

YouTube may be the next social media platform to announce the adoption of NFTs to its platform. The first social media site to announce the integration of NFTs on its platform is Instagram; Twitter and Spotify have also both announced the integration of NFTs onto their platforms. YouTube seems to have a lot of plans for integrating the NFT marketplace for creators on its platform, as previously announced. The video-sharing giant has shown plenty of intention regarding the integration of an NFT marketplace for creators. Susan Wojcicki, the CEO of…

Shiba Inu Expands Into Flight and Hotel Bookings 

Boboye Adeyemi

A crypto coin, that many labeled as a “meme currency”, may soon become part of the future of traveling worldwide. In a recent announcement, the Shiba Inu coin stated that you can now use SHIB (Shiba Token) to book flights and hotels globally. Using SHIB in the traveling industry can be seen as another milestone showing just how far the cryptocurrency industry has come in recent years. Decentralized Online Booking platform XcelTrip announced that they had bagged a partnership with Shiba Inu on their official website. The travel agency will…

Tether Seems to Have Found a New Home in Latin America With Mexican Peso-Pegged Stablecoin

Boboye Adeyemi

One of the key features of cryptocurrency is the ease of cross-border payment. Tether seems to have taken this concept a step further in order to explore the multibillion-dollar remittance market in Latin America by creating a Mexican Peso-pegged stablecoin. Tether announced on Thursday that it has added Mexico to its list of stablecoins, announcing it has launched its MXNT token that is pegged to Mexico’s peso. This is actually a great move, as seen in an analysis done by Marianna Palacious, as regards the state of Bitcoin in Latin…

Brazil’s Citizens Will Pay Tax on Cryptocurrency Related Revenue.

Boboye Adeyemi

Citizens of Brazil are now required to pay tax on any cryptocurrency-related activities and revenue, as announced by the Federal Revenue of Brazil (RFB). This new law means that every cryptocurrency-related activity like NFT flipping, remittance, and trading activities are taxable, with some exceptions. However, the enforcement is a bit confusing and surprising to see as, currently,  no cryptocurrency exchange supports the Brazilian Real, which is the national currency of Brazil. In a memo published in the Diario Oficial da Uniao, which is the official journal of the Federal Revenue…

An Island for Cryptocurrency and DeFi Talent is Set to Open in the Central African Republic 

Boboye Adeyemi

The CV-19 lockdown situation has brought about a global shift in how work is completed. With countries forced to go on lockdown for months, there was, unfortunately, a need to lay off workers in key industries. However, many tech companies decided to introduce the concept of a WFH (Work from Home) policy to retain talent. Some sectors suffered economically during the pandemic. For certain sectors, like the cryptocurrency industry, the global cryptocurrency market size was USD 826.6 million in 2020 and fluctuated greatly.  One of the key effects of CV-19,…

Russian Court Acknowledges Crypto as a Form of Payment

Boboye Adeyemi

Russia has joined the list of countries that have adopted cryptocurrency as a means of payment. However, this might be less so from an eagerness to adopt the world of crypto, but rather may be related to the sanctions imposed on the country due to the ongoing war between Ukraine and Russia. This Russian court ruling that allows crypto as a payment method came just a week after the Russian Industry and Trade Minister Denis Manturov hinted that the country would soon make crypto a legal form of payment. As…