Nexo has launched a payments card in Europe which allows users to spend without selling their digital assets.
The Nexo Card claims to be the first backed by a crypto credit line after the regulated institution for digital assets partnered with Mastercard and DiPocket.
Allowing cardholders to use their digital assets – such as Bitcoin, Ethereum and Tether – as collateral rather than selling them, it boasts 0% APR, no FX fees for up to €20,000 per month and a 2% crypto reward for every transaction made.
The Nexo Card comes with direct Apple Pay and Google Pay integrations, with other mobile wallet integrations available, and will be accepted by 92 million merchants worldwide where Mastercard is accepted.
Meanwhile processing and payments company FIS is partnering with crypto custody firm Fireblocks to offer its 6,000+ capital markets clients crypto investments, a move expected to encourage institutional investors into crypto.
These clients will now be able to move, store and issue digital assets on Fireblocks, and also have access to the its network connected to exchanges and tokens.
According to new research from accountancy software giant Sage, finance officers within UK SMEs are increasingly embracing cryptocurrencies.
The study – based on 1,900 responses from finance leaders in the healthcare, non-profit, financial services, professional services, hospitality, technology, eCommerce and retail industries in global English-speaking nations – found that only 13% of UK finance teams currently accept crypto transactions.
However 33% plan to accept decentralised currencies within the next 12 months and 44% believe these currencies will prove ‘extremely’ viable as a long-term payment solution.
The research revealed that 42% of finance leaders have used cryptocurrency as payment for personal transactions, whilst 45% have personally invested in cryptocurrency and 47% plan to invest in it.
The biggest hurdles surrounding adoption of cryptocurrencies were internal ESG policies (25%) and finding the right talent to manage it (23%).
The overall market cap of the more than 18,800 coins is at $1.92 trillion following a 2.4% rise in the last 24 hours.
Market leader Bitcoin – the original cryptocurrency created by the mysterious Satoshi Nakamoto – is at $41,300 at the time of writing (7am UK) following a 3% gain. BTC is 5% down in a week.
Ethereum, the second most valuable crypto coin – created as a decentralised network for smart contracts on the blockchain – added 2% to top $3,100. ETH, set for a huge upgrade soon, is 3% down over the course of a week.
Binance Coin is a cryptocurrency created by popular crypto exchange Binance to assist its aim in becoming the infrastructure services provider for the entire blockchain ecosystem. Its BNB token rose less than 1% to $421, leaving it 2% down over seven days.
The XRP token of Ripple, a payment settlement asset exchange and remittance system, acts as a bridge for transfers between other currencies. XRP gained 3% to approach 74 cents, which leaves it 5% down over seven days.
Solana is a blockchain built to make decentralised finance accessible on a larger scale – and capable of processing 50,000 transactions per second. Its SOL token added 3% to $107 and is 6% down on its price last Thursday morning.
Cardano is an open source network facilitating dApps which considers itself to be an updated version of Ethereum. Its ADA token, designed to allow owners to participate in the operation of the network, rose 1% to 97c. It is 9% down over the course of a week.
Terra, described as a programmable money for the internet, gained 3% to $88.30. Its payment token LUNA is 18% lower than its price a week ago.
Avalanche, a lightning-quick verifiable platform for institutions, enterprises and governments, came out of nowhere months ago to break into the top 10 currencies. Its AVAX token climbed 5% to around $81.50 and is 2% down in a week.
Meme coin Dogecoin was created as a satire on the hype surrounding cryptocurrencies but is now a major player in the space. DOGE rose slightly to remain above 14c while it is 2% down over seven days.
Polkadot was founded by the Swiss-based Web3 Foundation as an open-source project to develop a decentralised web. Its DOT token, which aims to securely connect blockchains, rose 3% to $18.35 and is 8% lower than its price a week ago.
To see how the valuations of the main coins have changed in the last few days, click here.
For valuations of the top 250 coins by market cap plus 24-hour price change and volume traded, see below.