Letter from NWC CEO
Germany accepted a Fund Location Act which will starting next week, allow German institutional funds (Spezialfonds) to put up to a fifth of their portfolios into cryptocurrency.
With this new law they are hoping to make Germany more appealing for investment opportunities on a global scale. And PayPal announced that it wants to expand its crypto trading services to United Kingdom. As for Bitcoin, this has been a very interesting week: after the weekly open at $35k, a short squeeze on Monday sent it above $40k for the first time since mid-June. Then, after some consolidation, it reached a high of almost $42.5, which hasn’t been touched since the May 19th crash. Right now, it looks poised to close the week at around $42k.
This week at NewsCrypto, our partnership with Travala, the world’s number one crypto-friendly travel booking platform, has led to the NWC payment option going live. With this partnership they integrated the NWC token on their platform which allows users to pay for their services directly with NWC tokens. All the purchases done with the NWC tokens are able to get a discount of up to 40%! We also published a development recap of the first half of 2021, so make sure to check out our blog post if you want to find out everything that we managed to create and accomplish.
That’s it for this week, see you soon!