Welcome to Around the Blockchain, Huobi Learn’s daily rundown of the crypto markets.
Gucci will start accepting crypto payments in over 10 currencies (including BTC, ETH, SHIB and DOGE) at some of its stores in New York, Los Angeles, Miami, Atlanta and Las Vegas at the end of the month. The luxury brand also plans to extend the pilot to all its directly operated North American stores this summer. Any in-store customer who wishes to pay using crypto will be emailed a link containing a QR code that allows them to use their crypto wallet to make payment. The fashion house has already adopted early Web3 technologies like blockchain and launched NFT projects, and president and CEO Marco Bizzarri said crypto payments were “a natural evolution” for the brand.
Bankoff, a platform offering virtual cards that can be topped up with crypto, has announced that its cards are no longer supported by Visa and Stripe. Some Bankoff users have also reportedly complained of being unable to withdraw deposited crypto from their accounts. The suspension was due to an increase in the number of active users and transactions from Russia, after Visa and Mastercard stopped operations in Russia in accordance with sanctions. This caused Russian-issued cards supported by leading payment processors to become useless for purchases outside Russia, leading to Russian residents ordering Bankoff’s virtual cards, which allowed them to make overseas payments.
Cboe Global Markets has completed its acquisition of institutional crypto exchange ErisX, with the newly joint firm’s executives saying quick integration was necessary while the digital asset markets were still hot. To be rebranded as Cboe Digital, the business will function as a subsidiary run by ErisX CEO Thomas Chippas. ErisX COO Matt Trudeau said it would prioritize adding margin capability to its clearinghouse in the near term, while the soon-to-be Cboe Digital would seek to expand its spot offerings beyond BTC, BTC cash, LTC and ETH.
France’s markets regulator AMF has registered Binance France as a digital asset service provider (DASP), with French banking regulator ACPR approving the registration. This makes France the first major European country to explicitly permit Binance to operate in its jurisdiction, and makes Binance the first major crypto exchange to be licensed as a DASP in France. This is a significant milestone for the exchange, especially as it has not had much luck in other European countries: Italy’s securities regulator said in July that Binance was “not authorized to provide investment services and activities in the country, while the Dutch central bank said in Aug that it lacked “the required legal registration” provide such services in the Netherlands.
Coinbase and Brazilian firm 2TM — Mercado Bitcoin’s parent company — have reportedly ended discussions on the former purchasing the latter. The reason for this has not been revealed, with both companies remaining tight-lipped. After announcing its acquisition of blockchain infrastructure platform Bison Trails, as well as the Routefire platform in Jan last year, Coinbase is said to have been making offers to buy other crypto and blockchain firms internationally. Last month, the exchange was reported to be planning a purchase of Turkey-based crypto firm BtcTurk for $3.2 billion.
Show me the money
Over the past 24 hours, BTC rose 1.54% to $39,509.33, while ETH was up 3.15% to $2,927.54. Other major altcoins witnessed mixed price movements: ADA was up 8.09% and SOL 5.66%, while LUNA was down 0.77%. Meme tokens SHIB and DOGE saw a respective increase of 2.36% and 2.26% within the same period.