Mastercard To Help Financial Institutions Offer Crypto Trading – October 17

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $19,557

Bitcoin price has started off the week at around $19,500, after appearing to find support at $19,000 over the weekend.

Top-20 altcoins have had a strong 24 hours of price performance, as Ethereum gains 3%, BNB rises 1% and Polygon leads with a 5% advance.

Top Stories for October 17, 2022 πŸ”₯

πŸ‘‰ Mastercard To Help Financial Institutions Offer Crypto Trading

Payments giant Mastercard will help financial institutions offer cryptocurrency trading, by acting as an intermediary with Paxos.

Mastercard will also provide regulatory compliance and security – an area that has previously given banks reluctance to become involved in the crypto sector.

A polling report referenced by Mastercard’s chief digital officer claims that clients also have been reluctant to enter the crypto space citing security concerns, and would rather begin by going through traditional banks.

πŸ‘‰ Aussie Regulator Blocks Access To Three Crypto Funds

The Australian Securities and Investments Commission (ASIC) has shut down access to three crypto funds from investment manager Holon, citing retail investor protection.

The ASIC says that the funds “may not be suitable for their financial objectives, situation or needs,” due to the funds including investors who plan to use the fund as up to 75% to 100% of their portfolios.

Holon’s Bitcoin fund, Ethereum fund and Filecoin fund have all been impacted by the order.

πŸ‘‰ Ripple Is Testing An Ethereum-Compatible Sidechain

Ripple is currently testing an EVM sidechain – a sidechain that is compatible with Ethereum smart contracts. The sidechain is already live on the company’s development network.

The testing process will consist of three phases, the second of which will begin in early 2023 and see the sidechain go permissionless. The third phase will take place in Q2 2023, with a full deployment of the software.