Now you’ll be able to spend your whole crypto wallet at Whole Foods, and soon you may be able to bid on CryptoKitties at eBay. Growing adoption of cryptocurrency payments by mainstream companies was the big theme that emerged on the first day of Coindesk’s Consensus 2019 conference in New York on May 13. The Winklevoss twins’ Gemini announced that major retailers—ranging from Whole Foods to Nordstrom’s—were accepting crypto payments. Meanwhile, online marketplace eBay teased it may soon take virtual currencies with ads and a show sponsorship.
In a surprise announcement over the weekend, Tyler Winklevoss, co-founder & CEO of crypto exchange Gemini, tweeted, “Let’s play a game: Spot the @Gemini Crypto Bus. Reply to this tweet with your pics and #CryptoBus, best one wins 1 bitcoin (BTC). Right now they are in San Francisco, Chicago, and Washington D.C. Happy hunting!”
Cryptocurrency supporters eager to see the business break into the financial mainstream had a pair of good signs on Jan. 30, as Fidelity Investments announced a timeframe for its Bitcoin custody service, and the Gemini exchange became the first exchange to pass a tough third-party test of its security offerings.
There’s a new crypto-asset available as of Monday morning, and it’s yet another effort to come up with a U.S. dollar-backed cryptocurrency. Called Paxos Standard (PAX), the new token is maintained by blockchain technology company Paxos. The firm endeavors to digitize different kinds of assets so that they can be traded anywhere at any time using the blockchain. For now, the company can securely track trades of securities and precious metals, but will expand to support commodities of any other type down the road. Its new PAX token is an important piece of this puzzle. PAX is one of a family of so-called “stablecoins,” those cryptocurrencies that are designed to…