Bitcoin Industry Insights #3
10/12/2022 - 10/18/2022
💡 Daily Reminder: Stay humble, stack sats
Bitcoiners,
Today's newsletter highlights major Bitcoin industry news announced this past week.
Summary
Mastercard helps banks offer bitcoin trading
Bitwage to offer Bitcoin 401(K) plans
Zebedee launches Lightning non-profit
Weekly Roundup
Mastercard helps banks offer bitcoin trading
Mastercard partnered with Paxos, a regulated blockchain infrastructure platform, to manage the security and regulatory compliance side of institutional bitcoin trading.
Traditional banks have avoided bitcoin trading for the most part because of all the regulatory challenges they would face. This partnership bridges the gap between Bitcoin and legacy banks to fill customer demand. Interestingly, a large number of people would prefer to gain exposure to bitcoin through their bank, per a recent poll.
Bitwage to offer Bitcoin 401(K) plans
Bitwage partnered with a popular fintech company, ForUsAll, to allow users on both platforms to gain exposure to 401(k) retirement plans.
Bitwage, a bitcoin payroll provider, seeks to provide a complete set of payroll and benefits suites for employers with this new partnership. It is becoming increasingly easier for bitcoiners to take advantage of pre or post-tax saving vehicles such as a 401(k) plan. The ability to get paid in bitcoin and potentially avoid capital gains tax on bitcoin profits is an enticing product.
Zebedee launches Lightning non-profit
Zebedee announced No Big Deal (NDB), a non-profit dedicated to furthering open-source development for Bitcoin and the Lightning Network.
The recent announcement from the bitcoin gaming company follows other recent announcements regarding capital flowing into Lightning network development. The new non-profit and contributions to growing the Lightning network removes the need for custodial services. The point of Bitcoin is to not need any trusted third parties to transact value and this challenge is being actively worked on for Bitcoin's layer 2 solution Lightning.
Weekly Roundup
Here are other noteworthy industry news articles from this week:
BITCOIN AMSTERDAM 2022: OPTIMISTIC OUTLOOK FOR BTC AMID SHAKY ECONOMIC TIMES
KAZAKHSTAN TO ESTABLISH LEGAL FRAMEWORK FOR BITCOIN, CRYPTO: REPORT
Happy Tuesday,
-Pod
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Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz
Disclaimer: This should go without saying: This is not financial advice. This is not investment advice. I write this newsletter for education and entertainment. Act accordingly.
