Global restaurant software provider Lavu announced on May 19, that they’re now in cooperation with Verifone a global FinTech payment solution provider. In essence, this will enable the companies to offer a unique point of sale (POS) solution to their customers. Whatsmore this strategic partnership will kick off with the Verifone Engage e285 device outfitted with Lavu’s tablet-based POS.
The partnership will offer smooth integration of Lavu’s restaurant software suite with the Verifone FLEX payment options, enabling the companies based in more than 65 countries to offer a unique point of sale (POS) solution with multiple modern payment methods to their customers. The following payment methods were announced: Alipay, Affirm, cryptocurrencies (including Bitcoin, Ethereum, Litecoin, Dogecoin, Shiba Inu, and several USD stablecoins) using crypto wallets such as PayPal, Venmo, WeChat Pay.
Following the collapse of Terra, the cryptocurrency industry has arrived at a pivotal juncture; while uncertainty persists, market players have chosen to take a cautious approach.It appears fear in the market is seemingly brought about by uncertain regulatory methods, escalating rate rises in the United States, and inflation spreading throughout countries.
Notably, the overall value of the global cryptocurrency market cap was $2.2 trillion on January 1, 2022, but as of the time this article was published on May 20, it was at $1.29 trillion, representing a decline of 41.36% since the beginning of the year, according to CoinMarketCap data.Since the beginning of 2022, the market capitalization has had a net outflow of $910 billion due to a variety of issues, including bearish sentiment.
The G7 finance ministers and central bank governors have called for a swift and comprehensive regulation of crypto assets. The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST.The finance ministers and central bank governors from the Group of Seven (G7) industrialized nations convened in Bonn and Königswinter, Germany, on May 18–20.
“The G7 supports work by the Financial Stability Board (FSB) to monitor and address financial stability risks arising from all forms of crypto-assets, and welcomes increasing global cooperation to address regulatory issues associated with the use of crypto-assets, including in cross-border payments,” according to the communique summarizing the finance leaders’ key decisions, published Friday.Following the collapse of LUNA and UST, a number of countries have independently.
Cryptocurrencies can potentially complement mobile money in Africa if regulators on the continent are made to change their perceptions of the digital currencies, the boss of one of Kenya’s biggest lenders has said. According to James Mwangi, CEO of Equity Group Holdings Plc, central banks first need to be convinced of the benefits of cryptocurrencies.
In remarks published by Bloomberg, Mwangi noted that most of the continent’s central banks have either banned the use of cryptocurrency like bitcoin or have imposed restrictions on its use. He noted, however, that a few countries have or are exploring ways to embrace cryptocurrencies.According to Mwangi, adopting cryptocurrencies is also one way Africa can get ahead of other continents as far as embracing fourth industrial technologies is concerned.
The U.S. now accounts for 37.84% of the global Bitcoin mining hashrate, according to new data published by the Cambridge Centre for Alternative Finance.FoundryUSA also ended up becoming the biggest mining pool in the world.
Georgia is the biggest mining hub in the U.S. by a wide margin, accounting for more than 30% of the country’s hashrate. It is followed by Texas (11.22%) and Kentucky (10.93%). What is more, New York and California, two deep blue states, are also responsible for a significant share of mining activity (9.77% and $7.9%, respectively), despite the fact that many progressive Democrats are opposed to Bitcoin.
Bank of France Governor François Villeroy de Galhau reportedly said that the recent crypto market volatility had been a “wake-up call” for global regulators.Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies.
According to a Tuesday report from Reuters, Bank of France Governor François Villeroy de Galhau said representatives from the United States, Canada, Japan, Germany, France, Italy, and the United Kingdom will likely speak on issues related to a regulatory framework for cryptocurrencies at a meeting in Germany’s cities of Bonn and Königswinter starting on Wednesday. Villeroy reportedly said that the recent crypto market volatility.