The world of cryptocurrency is constantly evolving and expanding, with new developments and partnerships being announced almost daily. As the popularity and adoption of cryptocurrencies continue to grow, so does the need for collaborations and partnerships to drive innovation and progress in this space. In this article, we will take a closer look at some of the most notable partnerships and collaborations in the world of cryptocurrency news.
Coinbase and PayPal
One of the most significant partnerships in the world of cryptocurrency news was announced in October 2020 when Coinbase, one of the largest cryptocurrency exchanges, announced its collaboration with PayPal, a leading online payment platform. This partnership allows PayPal users to buy, sell, and hold cryptocurrencies directly through their PayPal accounts.This move not only provides more convenience for PayPal users but also helps to bridge the gap between traditional finance and the world of cryptocurrency. This partnership also has a significant impact on the adoption of cryptocurrencies, as it exposes millions of PayPal users to the world of digital assets. It also adds credibility to the cryptocurrency industry, as PayPal is a well-established and trusted brand in the financial world.
Visa and Crypto.com
In February 2021, Visa, one of the largest payment networks in the world, announced its partnership with Crypto.com, a leading cryptocurrency platform. This collaboration allows Crypto.com to issue Visa-branded cards that can be used at any merchant that accepts Visa payments. This move is a significant step towards mainstream adoption of cryptocurrencies, as it allows users to spend their digital assets just like they would with traditional fiat currencies. Furthermore, this partnership also enables Crypto.com to access Visa's vast network of merchants, which currently stands at over 70 million.This means that Crypto.com users can now use their Visa-branded cards to make purchases at millions of locations worldwide, making it easier for them to use their cryptocurrencies in their day-to-day lives.
IBM and Stellar
In 2017, IBM, one of the world's leading technology companies, announced its partnership with Stellar, a blockchain-based payment network. This collaboration aimed to revolutionize cross-border payments by using Stellar's blockchain technology to facilitate faster and more cost-effective transactions. Through this partnership, IBM and Stellar have launched a blockchain-based payment network called World Wire, which allows financial institutions to settle cross-border payments in real-time. This move has the potential to disrupt the traditional cross-border payment industry, which is known for its slow and expensive processes.Ripple and MoneyGram
In 2019, Ripple, a leading blockchain-based payment network, announced its partnership with MoneyGram, one of the largest money transfer companies in the world. This collaboration aimed to leverage Ripple's blockchain technology to improve the speed and efficiency of cross-border payments. Through this partnership, MoneyGram has integrated Ripple's On-Demand Liquidity (ODL) service, which uses XRP, Ripple's native cryptocurrency, as a bridge currency for cross-border transactions.This has significantly reduced the time and cost of cross-border payments for MoneyGram, making it a more attractive option for its customers.
