San Francisco-headquartered Bank Wells Fargo have decided to add its own cryptocurrency strategy for wealthy clients. The president Wells Fargo Investment Institute (WFII), Darrell Cronkmade this known when he said the bank sees Crypto as a “viable investable asset”. He added the system could be a nice diversifier to portfolio holdings. Major crypto adoption continues as JPMorgan, the largest U.S. bank is set to introduce a Bitcoin fund this summer due to strong customer demand.
Ripple partners with the National Bank of Egypt, the biggest banking institution in Egypt to enable remittance inflows from the United Arab Emirates through LuLu International Exchange. This Partnership will strengthen the MENA region’s financial infrastructure and provide ease in cross- border payment experience for the Egyptian community. Egypt ranks is the 6th-largest remittance recipient in the world, with increasing remittance volume.
Cardano parent company Input Output, launched a new ‘converter’ today that allows users to bring ERC20 tokens onto the Cardano blockchain. The ERC20 converter will allow Ethereum-based tokens like AGI (SingularityNet) to run on its proof-of- stake blockchain. According to the company’s announcement, the converter is coming to testnet soon. 10 project manager Francisco Landino said the converter is designed for token issuers and users.
SOS Ltd. tech company with head quarters in Qingdao, China launched more than 6,000 ETH and BTC mining rigs from 90% renewable energy sources according to its recent announcement. The company now has 575 Ethereum mining rigs and 5,464 Bitcoin mining rigs. The Mining rigs are now active at the company’s cryptocurrency mining center in Sichuan Province. SOS Chief Executive Yandai Wang describes the purchase as progress On digital currency plan.