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CryptoCorner: AT&T (NYSE: $T) Teams with BitPay for Online Crypto Payments, Robinhood Crypto Available in New York, Facebook (Nasdaq: $FB) Plans 'GlobalCoin' for Q1 2020

 

Point Roberts, WA and Delta, BC - May 24, 2019 (Investorideas.com Newswire) 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.

Crypto Corner

Stocks discussed: (NYSE:T) (Nasdaq:FB)

U.S. telecommunications giant AT&T (NYSE:T) announced yesterday that they will accept cryptocurrency for online bill payments. The company will be working with crypto payments processor BitPay to execute transactions. Kevin McDorman, vice president, AT&T Communications Finance Business Operations, said:

"We're always looking for ways to improve and expand our services. We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer."

After receiving a BitLicense from the New York Department of Financial Services (NYDFS) back in January, financial services firm Robinhood has now announced the launch of its crypto trading app for New Yorkers in a recent blog post. Robinhood Crypto allows users to track, trade and invest in seven different cryptocurrencies, including: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV, Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Dogecoin (DOGE). Robinhood Crypto is now available in 39 U.S. states.

BBC reports that Facebook (NasdaqGS:FB) aims to establish a cryptocurrency payments network by the first quarter of 2020. The social media giant's planned cryptocurrency is being referred to internally as GlobalCoin, and will begin testing by the end of 2019. An excerpt from the report reads:

Facebook wants to create a digital currency that provides affordable and secure ways of making payments, regardless of whether users have a bank account.

The social networking site, which owns WhatsApp and Instagram, is hoping to disrupt existing networks by breaking down financial barriers, competing with banks and reducing consumer costs.

A report from Russian news outlet TASS indicates that the country's central bank is considering the creation and use of a gold-backed cryptocurrency. The report explains, however, that the currency will be used only for mutual settlements with other countries. Elvira Nabiullina, the head of the central bank, emphasized that the state is still firmly against the idea of crypto as an alternative to fiat currency:

"We, in principle, of course, are opposed to cryptocurrencies being launched into our monetary system. We do not see this possibility, that cryptocurrencies, in fact, fulfill here the function of monetary surrogates. In this part, definitely not."

Sam Mowers, Investorideas

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