Fun

Cross-border BTC payments a top priority for Marathon Digital — Bitcoin 2024

News Feed - 2024-07-27 04:07:00

Alex O’Donnell4 hours agoCross-border BTC payments a top priority for Marathon Digital — Bitcoin 2024The Bitcoin miner is seeking partners to build BTC payment apps, a company executive said.764 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksBitcoin miner Marathon Digital is seeking partnerships with blockchain developers to build Bitcoin layer-2 solutions for cross-border BTC payments, Julian Duran, Marathon’s product lead for side chains, said at the Bitcoin 2024 conference on July 26 in Nashville, Tennessee. 


Cross-border payments are “the biggest use case for blockchain, generally speaking, and especially for Bitcoin,” according to Duran, who also contributes to Anduro, Marathon’s in-house Bitcoin layer-2. He said payments are “at the top of my list” of development priorities.


Related:World’s largest BTC miner Marathon buys $100M BTC to go ‘full HODL’


In emerging markets, the average cost of sending money overseas is 8% to 10% of the transaction value, with settlement often taking three to four days, according to Duran. By comparison, Bitcoin (BTC) transfers usually settle in 10 minutes or less — and Bitcoin layer 2s could be even faster, Duran said.Marathon Digital’s 12-month stock performance. Source: Marathon Digital


He noted that for any payment solution to succeed, regulatory compliance is crucial — and often comes at a cost.


“With any sort of use case […] that we might incubate, regulation is a top priority,” Duran said, adding that if “making sure every single license is in order […] means that the product road map extends from a month to a year, that"s okay.”


The high cost of compliance in the United States should not discourage developers, who are likely to find a more supportive environment in developing countries where cross-border payment solutions are most needed.


“Other jurisdictions, specifically within emerging markets, tend to be a lot cheaper and a lot quicker” to sign off on new payment systems “because the regulators and the governments […] want a better cross-border payment solution” than what is currently available, Duran explained.


Beyond payments, tokenized real-world assets (RWAs) are also among the top areas of focus for Marathon, Duran said. The Bitcoin miner is in the early stages of a plan to tokenize whisky barrels in the US and has partnered with an RWA platform to preserve French castles, he said.


Marathon is among the largest corporate holders of BTC, with a treasury of some 20,000 coins worth upward of $1 billion. It acquired around $100 million worth of BTC in July alone.


Magazine:Earn Bitcoin for eating tickets, Immutable says ‘big studios are showing up’ — Web3 Gamer# Bitcoin# Blockchain# Cryptocurrencies# Mining# Business# Government# Decentralization# Bitcoin Price# Technology# Payments# Bitcoin Regulation# Adoption# United States# DeFi# RegulationAdd reaction

News Feed

Bitcoin ‘Probably’ Hit Its Bottom At $77,000, Arthur Hayes Says
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
PRIMEZTOKEN Is Now Available for Trading on LBank Exchange
PRIMEZTOKEN Is Now Available for Trading on LBank Exchange press release PRESS RELEASE. INTERNET CITY, DUBAI, Sep. 23, 2022 – LBank Exchange, a global digital asset trading p
Indian Police Seize $3 Million in Bitcoin from Sh**ty Bitconnect Scammers
Property worth over Rs 38 Crore ($5.5 million) has been seized in the Indian state of Gujarati from promoters of the Bitconnect cryptocurrency scam. According to the Times of India, the property includes 280 Bitcoins whi
‘Control the Pandemic’ – Fed Chair Jerome Powell Predicts the Entry of a ‘Different Economy’
"Control the Pandemic" - Fed Chair Jerome Powell Predicts the Entry of a "Different Economy" Federal Reserve Chair Jerome Powell told participants at the Bay Are
Russian Court: Bitcoin Theft Not a Crime
Russian Court: Bitcoin Theft Not a CrimeA Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status
BitYard Has Partnered With Banxa to Expand Fiat Money Deposit Methods Supporting Major Currencies
BitYard Has Partnered With Banxa to Expand Fiat Money Deposit Methods Supporting Major Currencies press release PRESS RELEASE. BitYard, a Singapore-based cryptocurrency derivatives
Bancacy Successfully Raises 6,500 ETH, Completing Its Public Funding Round Within Two Days
TwitterFacebookLinkedInReddit Bancacy is an innovative and decentralized digital asset class that is establishing a
Price analysis 5/8: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Rakesh Upadhyay5 hours agoPrice analysis 5/8: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBBitcoin’s dull range-bound action is likely to continue for a few more days as the bulls and the bears battle for control
Tom Mitchelhill3 hours agoEffective altruism fueled SBF’s ‘ridiculous’ actions at FTX: Ex-Alameda engineer“No sane person would make those decisions,” says a former engineer at Alameda Research about what ultim
‘The Big Short’ Coming For Bitcoin? Why BTC Will Clear $110,000
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Digital Collectible Owners Continue to Take Loans out Using NFTs as Collateral
Digital Collectible Owners Continue to Take Loans out Using NFTs as Collateral While non-fungible token (NFT) collectibles have become a hot commodity over the last 12 months, a nu
Nvidia outperforms Apple by 25x, ahead of 10-to-1 stock split
Zoltan Vardai11 hours agoNvidia outperforms Apple by 25x, ahead of 10-to-1 stock splitWhile stock splits are a sign of confidence in a company’s future performance, they could introduce significant price volatility aft