April News Recap: Goldman Sachs Offers First BTC-Backed Loan, Buenos Aires to Accept Crypto Tax Payments, and More
Though bearish sentiments are at an all-time high, all hope is not lost as the uptick in institutional adoption and the inclusion of crypto services among financial institutions further encourages the beneficial use-cases of digital currencies. From Goldman Sachs' first-ever Bitcoin-backed loan to the acceptance of crypto tax payments in Buenos Aires, here’s our monthly round-up of all things crypto and blockchain-related.
1. Goldman Sachs Offers First Bitcoin-Backed Loan
Financial giant Goldman Sachs has officially offered its first Bitcoin-backed loan, further accelerating institutional crypto adoption on Wall Street. The bank had lent cash collateralized by Bitcoin owned by the borrower for the first time in the firm’s history. This allows for a Bitcoin holder to borrow fiat currency such as the USD by placing their Bitcoin as collateral to the bank.
2. Buenos Aires to Accept Crypto Tax Payments
As part of its 12-step development plan known as “Buenos Aires +”, the capital of Argentina will make blockchain an integral part of its digitalization plans. On top of accepting crypto for tax payments, the country is looking to launch a platform for citizens’ digital IDs that will hold all the necessary information including birth dates, medical records, and education documents. To ensure that such sensitive data is well-protected, the platform will run on a distributed ledger technology.
3. Polygon Aims to go Carbon-Neutral This Year
The Polygon network recently released its “Green Manifesto: A Smart Contract with Planet Earth” as it aims to go carbon-neutral in 2022. Furthermore, the network also made a $20 million pledge to offset its carbon footprints. This move is part of its long-term vision for the ecosystem to become the first blockchain to be climate positive - a term coined by the network.
4. Japan’s Super App, Line, Adds NFT Marketplace
Japan’s social messaging mobile application LINE has launched its own NFT marketplace. The firm has partnered with Japanese entertainment conglomerate, Yoshimoto Kogyo, to launch the new feature that will offer approximately 40,000 different NFTs to its reported 90 million users.
5. Luna Foundation Guard Receives 10 Million LUNA From Terraform Labs
Nonprofit organization Luna Foundation Guard (LFG) has just been gifted 10 million LUNA. While the reason for the transfer was not specified, many expect that some of the funds will go towards building its stash of digital gold. The latest donation to LFG comes just over a month after Terraform Labs gifted $1.1 billion worth of LUNA so that it could be burned to mint UST and grow its reserves.
If you plan on earning passive income with your crypto assets, it is time to consider depositing them into a Hodlnaut account to earn up to 7.25% APY on your digital currencies. Feel free to drop us an email at support@hodlnaut.com should you have any questions and we’ll get back to you as soon as possible.
Stay tuned for the next edition of our crypto news and updates as we discuss the monthly highlights in the crypto and blockchain space.
Disclaimer: By using Hodlnaut, users expressly acknowledge and agree to the Terms of Use listed on our website at www.hodlnaut.com. This includes the relevant risk warnings applicable to you as a user of Hodlnaut's services, prior to/when carrying out Digital Payment Token (DPT) transactions. This article is for informational purposes only, and is not an offer nor a solicitation to invest in DPT, securities, funds, partnership interests or other investments or funding or purchasing loans. It is the user's sole responsibility to conduct due diligence and research extensively into each DPT and platform, and understand that the volatility and unpredictability of the price of DPT may result in significant loss over a short period of time. No information on Hodlnaut should be considered to be business, legal, financial or tax advice regarding the use of Hodlnaut. Users should consult their own legal, financial, tax or other professional advisors before using Hodlnaut. Please refer to our website at https://www.hodlnaut.com/tos for the full Terms of Use.
