Eidoo, the Swiss DeFi startup, has partnered with Contis to launch a new Visa crypto debit card. 

The new Eidoo card has been approved by Visa and will be accepted by 40 million merchants worldwide. It uses regulated stablecoins to enable crypto-to-fiat conversions, supporting major currencies including the euro (EUR) and British pound (GBP). 

Contis, a principal member of Visa Europe, acts as the issuer of the new card, while the Ethereum-based stablecoins used are issued by UK-based financial services firm Moneyfold. According to Eidoo, the new card represents the first time the backend of a cryptocurrency card is done via stablecoins and DEXes. 

People can pre-order an Eidoo Card by staking or burning Eidoos native EDO token (minimum burn 100 EDO, or minimum stake 25,000). There are three levels of account available: BASIC, VIP, and BLACK. 

The company says nearly 3,000 cards have already been pre-ordered, with more than 3m EDO tokens staked.

AYO.NEWS says:

Cards like this really do make cryptocurrencies as convenient as cash, and will be a major driver of mainstream adoption. At the end of March we reported that Malta-based crypto company Binance had launched a Visa debit card, with initial roll out in Malaysia. Meanwhile, US-based Coinbase has been steadily adding more countries and cryptocurrencies to its Visa debit card program.  

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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Italian porn industry news outlet PornVisory.it is planning to launch a third-party video and live streaming platform, and reward people for watching with its own crypto tokens. 

Talking to Cointelegraph the company’s founder, Veronica Noschese, said that the adult entertainment industry was in desperate need of anonymous financial systems, and she saw there was a “natural synergy” between the crypto and porn industries. 

With even the world’s biggest adult website, Pornhub, running into issues with payment providers – as evidenced by PayPal’s decision to ban it in 2019 – cryptocurrencies seem to offer an appealing solution. As we previously reported, in January this year Pornhub itself decided to support the Tether (USDT) stablecoin, and it was already supporting the Verge (XVG). 

Apparently PornVisory’s token (PVY) has been inspired by the Basic Attention Token (BAT) – and will be awarded to visitors using the privacy-first Brave Browser if they enable special ads, and to users viewing PornVisory’s content. 

An exclusive section of the new platform will also allow users to pay for content using popular mainstream cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). Though PornVisory currently only offers Italian-language content, it is planning to launch an English-language section soon. 

Interestingly, Noschese confirmed there will not be an initial coin offering (ICO) for the PVY token, and the project is being financed with the founder’s own funds. However, there are plans to seek additional investment once the platform is running, and there are token airdrops planned for marketing purposes. 

Though plans have been delayed somewhat by the COVID-19 crisis, which effectively shutdown Italian businesses for months, the company plans to launch its new platform before the end of 2020. 

The technical blockchain aspects of the project are being handled by Swiss company Deepit. 

AYO.NEWS says:

As we’ve pointed out before, the adult industry could well turn into one of the most significant drivers for mainstream blockchain adoption among the general public. However, with regulators across the world now turning their attention to cryptocurrencies, how long the technology will really be able to offer anonymity for financial transactions is anyone’s guess. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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Blockchain lottery company Quanta has appointed Ioannis Papachristou as SVP, Managing Director, of its Isle of Man operations. 

Papachristou has extensive experience in managing operations and projects, and is said to be a dynamic and motivated professional with a proven track record of managing projects from concept to completion. 

Introducing Papachristou Quanta’s CEO, Harmen Brenninkmeijer, said:

“Ioannis is able to respond quickly to changes that occur on a daily basis in fast moving industries. As a member of senior management, the managing director is also expected to promote expansion and innovation within the industry.”

While Papachristou himself added:

“I am excited to take on this role and to focus on Quanta’s potential to utilise revolutionary technology to bring unparalleled security, transparency, and immutability to the gaming sector and beyond. As a true believer in Quanta’s vision for the future, I have confidence in the new management team and its ability to lead the company to success.”

Staying with Quanta, in March we reported the company had appointed John Kamara as SVP African Operations, while in February Jason Yee was appointed Chief Financial Officer of the company.

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Telegram has conceded defeat in its battle with US authorities, withdrawing its appeal against a US federal court injunction.

According to a court document dated 22 May, the company has halted its attempt to fight the injunction that ordered it to cease issuing and distributing its Gram tokens. 

As we reported in March, the injunction had been issued after a US District Court agreed to grant a Securities and Exchange Commission (SEC) request, stating that it considered the SEC to have shown “a substantial likelihood of success in proving” that the issuance and sale of tokens was an “integral part of the sale of securities without a required registration statement.” 

Earlier this month Co-Founder of Telegram Messenger, Pavel Durov, announced the closure of the Telegram Open Network (TON) project, and the withdrawal of the appeal seems to be the final nail in the coffin, confirming there’s no going back. 

However, though it may be the end of the road for Telegram’s official involvement in TON, the Telegram Open Network operating system, the open-source project is still very much alive, after being published on Github and propelled forward by its worldwide developer communities. 

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Statespace, the creator of Aim Lab, has secured $15 million in a Series A funding round.

Khosla Ventures led the round, with founding partner Samir Kaul joining Statespace’s board. Current investors FirstMark Capital, Expa, and Lux Capital also participated, along with new investor June Fund. 

According to the company, which combines gaming with cognitive science and artificial intelligence, it will use the new capital to expand its team, which has doubled since its last funding round in August 2019, when it raised $2.5m. 

The company is also working on a mobile version of Aim Lab, and says it will be adding support for Xbox and Playstation in the near future. An Academy, created in partnership with Masterclass and several top streamers, is also slated to launch in Q3 2020. 

According to Statespace CEO, Wayne Mackey, the platform now has 2 million registered users, with around 500K monthly active users – a 400% increase from January.

Aim Lab, Statespace’s flagship esports offering, recently signed a deal with Overwatch League franchise Philadelphia Fusion.

AYO.NEWS says:

With esport now big business, and millions of gamers dreaming of turning pro and building careers in the space, there’s clearly massive demand for services that help players improve their skills, so the future’s looking bright for companies like Statespace. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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Things may be about to get a little easier for crypto firms in the Ukraine, after the publication of a new draft bill clarifying the legal status of virtual assets. 

After four years of contemplation, last week the Ministry of Digital Transformation of Ukraine, published the new draft bill “On Virtual Assets”, which provides clarification on the legal status of cryptocurrencies, and rules regarding their circulation and issuance. 

Critically, if passed, the bill should allow Ukrainian crypto companies to open local bank accounts – something cryptocurrency exchanges in the country are still unable to do.

However, despite the obvious benefits to the industry, some serious concerns have been raised. One in particular is quite disturbing – the possibility that the law would render all crypto wallets in the country illegal unless they are registered with the Ministry.  

It seems the Ministry drafted the bill in response to last year’s announcement by the Financial Action Task Force (FATF) that it would be adopting AML rules for cryptocurrencies by June 2020. The Ministry has invited feedback from the crypto community, with the bill open for discussion until 5 June 2020. 

As we reported in January, the Ukrainian authorities have already started monitoring all cryptocurrency transactions exceeding 30,000 Ukrainian hryvnia (UAH) – approximately €1,100. 

AYO.NEWS says:

As digital assets mature into a fundamental part of the global economy, we are witnessing the irreconcilable nature of true privacy and anti-money laundering regulations. No matter what proponents of regulation say, by definition you simply can’t have true privacy and effective AML controls. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020