Square, Coinbase lead new crypto lobby; Stripe adds payments for Clubhouse creators

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In the lobby

Coinbase, Fidelity Investments, Square and crypto investor Paradigm are teaming to push for favorable outcomes as cryptocurrency regulation takes shape.

The Crypto Council for Innovation will operate internationally, providing information and encouraging what it sees as responsible public policy. The group will also share insights and analysis about crypto, while “correcting misperceptions,” reports Bitcoin Magazine.

The magazine reports that while the CCI is focusing generally on cryptocurrency, its members have a vested interest in bitcoin. Fidelity is trying to gain approval for a bitcoin ETF, and bitcoin trading has become a primary source of Square’s revenue.

First time payer, long time listener

Social audio technology startup Clubhouse has hired Stripe to support transfers directly to speakers on the app’s digital broadcasts.

The business model is similar to Patreon in that it creates a direct route between content creators and consumers. Payers access a program host’s profile, tap “send money” and choose how much to transfer from a pre-enrolled credit or debit card.

Stripe collects a processing fee for the transaction from Clubhouse, but the consumers and creators are not directly charged for payments.

Crypto star

Bitcoin ATM firm Coinme has added about 300 Florida locations to its network of Coinstar terminals that enable bitcoin purchases.

Consumers in Jacksonville, Miami, Orlando and Tampa can use kiosks in Winn Dixie, Fresco y Mas and Harvey’s to buy bitcoin, reports Coindesk.

Coinme has similar partnerships with Coinstar at Safeway and Albertsons locations. The deployments are geared toward buying bitcoin rather than using the cryptocurrency for payments in the supermarkets.

New node

Hoboken-based fintech Roxe plans a pilot for blockchain-based transfers involving India, testing its payment rail in one of the world’s largest remittance markets.

Digital asset exchange platform BuyUcoin will use a Roxe payment node to manage cross-border payments and settlement in and out of India, using the distributed ledger to remove third parties that add time and processing cost.

Roxe contends its permissioned blockchain enables near-instant settlement, as opposed to days for traditional remittances. Roxe’s remittance service supports U.S. dollars and covers the U.S., India and other major remittance markets.

From the Web

Egypt’s Paymob closes $18.5M Series A to expand payments services across MENA
TECHCRUNCH | Thursday, April 8, 2021
While Nigeria and Kenya have been at the forefront of African fintech innovation, activities in Egypt are beginning to shape up nicely. Right now, Egypt is home to a burgeoning fintech startup ecosystem, and today, one of its biggest players, Paymob announced that it has completed an $18.5 million Series A round.

E-commerce firm StockX valued at $3.8 billion after new funding round
REUTERS | Thursday, April 8, 2021
E-commerce firm StockX said on Thursday it had raised $255 million in a financing round, valuing the company at more than $3.8 billion.

Best Buy’s $200 Amazon Prime rival offers tech support and free installs
ENGADGET | Thursday, April 8, 2021
The membership service is still in beta but will available in 60 stores by the end of April.

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