Four Substantial Catalysts for Cryptocurrencies in September
Other than the trade war, investors are finding plenty of reason to buy into cryptocurrencies. Especially with sizable catalysts in September 2019 alone.
Catalyst No. 1 – Binance Launching Binance U.S.
Binance US will launch in the “coming weeks”, according to CEO Catherine Coley.
Binance US is essentially the same as Binance, as noted by Decrypt, but with the approval of US regulators. As part of the deal with US regulators, consumers must pass know-your-customer (KYC) checks to use the exchange. New accounts will also require a valid government ID and a social security number.
Catalyst No. 2 – PwC Luxembourg Will Accept Bitcoin Payments
On October 1, 2019, auditing firm PwC will begin accepting BTC in an effort to meet consumer needs, and to support the cryptocurrency industry. “The Luxembourg firm strongly believes in the underlying technology as a medium to long-term standard in the economy and strives to position itself as an early adopter,” the auditor notes.
“The move to embrace crypto-payments is also a strong reflection of carefully listening to the growing demand from the market and PwC Luxembourg clients and offering them a secure payment alternative reflecting the evolution of our economy.”
Learn How to Spot Unique and Predictable Patterns in Cryptos
Catalyst No. 3 – HSBC Just Uses Blockchain to Issue Letter of Credit
In early September 2019, HSBC completed the first yuan-denominated letter of credit transaction using blockchain technology. Part of the reason for that is because blockchain can help reduce transaction times, costs, and even provide more secure and transparent accounting.
Catalyst No. 4 – Samsung Phone May be Cryptocurrency-Enabled
Samsung’s new Galaxy Note 10 will feature a cryptocurrency wallet, and free coins. “The world’s largest smartphone maker will offer a Galaxy Note 10 marketed as a ‘KlaytnPhone,’ named after a South Korean blockchain platform,” notes The Wall Street Journal.
Now, if the U.S. SEC would signal stronger support for cryptocurrencies, we’d see a much bigger boom in value. In fact, we believe that once that happens, coins could return to the sky-high valuations we saw just a few short years ago.
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