#CryptoCorner Episode 404: Square's Cash App Allows Scheduled Purchases, Grayscale Reports Surge in Total AUM
May 20, 2020 at 13:00 PM EDT
Point Roberts, WA and Delta, BC - May 20, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
Listen to today's Crypto Corner Podcast:#CryptoCorner Episode 404: Square's (NYSE: $SQ) Cash App Allows Scheduled Purchases, Grayscale (OTC: $GBTC) Reports Surge in Total AUMStocks discussed: (NYSE:SQ) (CSE:BIGG) (TSXV:DMGI) (OTC:GBTC)
Cash App, a mobile payment system from Square, Inc. (NYSE:SQ), announced in a tweet that it now allows users to "schedule automatic stock and bitcoin purchases." The tweet went on to say that "By spreading purchases out over time, you may minimize the impact of market swings." Square CEO Jack Dorsey indicated in his own tweet that the app's automatic purchases can be scheduled daily, weekly or biweekly.
BIGG Digital Assets Inc. (CSE:BIGG) has entered into a Partnership Agreement with fintech startup IX Asia Limited wherein the latter will incorporate tools from BIGG subsidiary Blockchain Intelligence Group (BIG). These tools include the company's BitRank Verified product, which offers a risk score for cryptocurrencies, and QLUE, a Blockchain-agnostic search and analytics engine. Blockchain Intelligence Group's President, Lance Morginn, commented:
"By partnering with industry leaders like IX Asia it will allow us to further establish our presence in the APEC region. IX Asia has well established relationships and connections and won the Fintech Awards 2019 for Wealth Investment and Management. We look forward to the opportunity to collaborate with IX Asia to bring education and other technical solutions for their current and future business initiatives."
DMG Blockchain Solutions Inc. (TSXV:DMGI) has revealed a new corporate presentation including an updated operational business outlook. A key highlight of this is the company's plan to "expand its self-mining efforts with a goal to becoming one of the largest North American bitcoin mining companies by compute power." DMG anticipates that approximately 65 percent of its mining capacity at its facility will be for self-mining by the end of 2021. An excerpt from the press release reads:
Increasing self-mining compute power will require the Company to secure sufficient capital through equity, debt, or joint ventures in order to purchase additional miners, add more megawatt capacity to the Company's existing mining facility, and potentially acquire a second or third mining facility.
Cointelegraph reports that digital asset management fund Grayscale has reached total assets under management (AUM) of $3.8 billion. Grayscale Bitcoin Trust (OTC:GBTC) has led the growth, accounting for $3.36 billion, or 89 percent of the firm's total AUM, and has achieved growth of 76 percent from last year's $1.9 billion AUM.
Sam Mowers, Investorideas
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