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Crypto Corner Episode 467: PayPal (NasdaqGS: $PYPL) May be Trying for BitGo Acquisition, Ebang (NasdaqGS: $EBON) Establishing Subsidiary in Australia

 

Point Roberts, WA and Delta, BC - October 23, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2020/102320-CryptoMarket.mp3

Crypto Corner Episode 467: PayPal (NasdaqGS: $PYPL) May be Trying for BitGo Acquisition, Ebang (NasdaqGS: $EBON) Establishing Subsidiary in Australia

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Stocks discussed: (NasdaqGS:PYPL) (NasdaqGS:EBON) (CSE:NC)

Bitcoin (BTC) appears to have sustained the bull run that it began on Monday, and which was accelerated by news that PayPal (NasdaqGS:PYPL) would be launching a new crypto service. At press times, Bitcoin is trading for just under $13,000, but has in fact surpassed that amount a few times throughout the week, according to data from CoinMarketCap.

On the subject of PayPal, Bloomberg reports that the payments giant is considering acquisitions in the crypto space, including custody firm BitGo Inc. Citing "people familiar with the matter," the Bloomberg article claims that "PayPal has been holding talks with BitGo," "and could reach a deal within weeks." The sources indicated, however, that negotiations could not be guaranteed success at this point, and that if they failed, PayPal would pursue other companies in the space.

Bitcoin mining machine producer Ebang International Holdings Inc. (NasdaqGS:EBON) has announced that it has established a wholly-owned subsidiary in Australia, which it cites as being "part of its growth strategy to build a digital asset financial service platform which is in the stages of preparation." Dong Hu, Ebang's Chairman and CEO, said:

"We are pleased to announce that the Company has established its presence in Australia in furtherance of our strategies to launch comprehensive blockchain-enabled financial business and capture the growth opportunity along the value chain of the blockchain industry. We are currently applying for the Australian financial service license in preparation for our global expansion."

Crypto payments firm NetCents Technology Inc. (CSE:NC) has revealed that it exceeded $27 million dollars in transactions on its NetCents platform in 2020. A considerable amount of this growth is chalked up to the company's focus on its global B2B merchant base, which comprised 70 percent of new approved merchants added to the platform, boasting an average transaction value of over $25,000. Clayton Moore, Founder and CEO of NetCents Technology, commented:

"We are really excited about the B2B business as we are solving major problems in the current business climate for our clients. Additionally, the Company has made significant strides in accelerating its European growth with management convening in Germany for a number of high level meetings that will result in the opening of the first satellite office in Europe and significant business relationships to kickstart revenues. We have turned the corner as far as Crypto being a respected product, and now bank executives are beginning to understand that digital currencies can provide users more security than the current financial infrastructure."

Sam Mowers, Investorideas

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