Category: Top Crypto News

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Cardano Vasil Upgrade Completes First Phase – Top Crypto Updates

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Cardano Vasil upgrade completes its first phase

Cardano blockchain’s long-awaited upgrade, the Vasil hard fork, successfully completed its first phase early Friday morning. Vasil will bring improvements to the Cardano network, making it more scalable and increasing its efficiency and cost-effectiveness. [Hard forks are permanent updates to a blockchain protocol that require all nodes or users to upgrade to the latest version of the protocol software.]

Crypto prices today: Bitcoin rises 2.8%, ETH up 5.8%

Bitcoin is currently trading at $19,307.9, an increase of 2.8% over the previous day. Ethereum is up 5.7% over the last 24 hours to $1,340.56. Solana rose 5% to $32.9, while Cardano is trading higher by 5.52% at $0.467. Polkadot (DOT) rose 3.6% to $6.52. The global crypto market cap stands at $948.23 billion, a 3.94% increase over the previous day.

Coinbase denies proprietary trading and crypto ‘market maker’ allegations

Coinbase has denied allegations that it engages in proprietary trading but asserts that some of its competitors do. A Wall Street Journal report published on Thursday alleges that Coinbase hired traders to use the company’s own funds to make trades and stake crypto to make a profit. In response, the crypto exchange wrote up a blog denying the claims, arguing the report confused “client-driven activities” with prop trading.

INX launches trading platform for SEC-registered crypto

INX Digital Company has created a platform to allow the trading of US Securities & Exchange Commission (SEC)-registered security tokens and various cryptos. The product will be open to both retail and institutional investors. It will also include services for issuers seeking to raise capital via a security token offering.

Indian Govt. working on how GST tax could be applied to crypto

India’s Ministry of Finance is reportedly working on how the Goods & Services Tax (GST) could apply to crypto transactions. Previously, local media reported that the government was considering imposing either an 18% or 28% GST on crypto assets. GST may only be applicable on margin or service fees and not on the entire value of the asset.

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Helium Shifts to Solana Blockchain – Top Crypto Updates

Helium ditches own blockchain in favor of Solana

Helium community members have voted to move the decentralized WiFi network from its blockchain (officially known as HIP 70) to the Solana blockchain. The HIP 70 proposal concluded voting early Thursday morning with ~81% voting in favor of migration. Developers behind Helium proposed the migration to Solana to help scale the protocol through more efficient transactions as well as interoperability.

The move will transfer all tokens, applications, and governance to the Solana network.

Crypto prices today: Bitcoin falls 0.3%, ETH down 4%

Bitcoin is currently trading at $18,765.81, a decline of 0.38% over the previous day. Ethereum is down 4.1% over the last 24 hours to $1,267.68. Solana fell 0.68% to $31.30, while Cardano is trading higher by 0.14% at $0.443. Polkadot (DOT) rose 1.7% to $6.29. The global crypto market cap stands at $912.30 billion, a 0.7% decline over the previous day.

Bitcoin bear market is ‘healthy’ for crypto industry long term: Binance CEO

Binance CEO Changpeng Zhao said a four-year crypto market cycle is normal, and a bear market is healthier in the long term than a seemingly never-ending upward trend. He added that investors should not look at token prices as signs of how the crypto market is doing. Instead, he suggested investors look at the number of users buying & using crypto and the number of different blockchains and Web3 projects.

Jesse Powell steps down as CEO of Kraken

Jesse Powell, the controversial co-founder of crypto exchange Kraken, will step down as the company’s chief executive. He aims to spend more time on the company’s products, user experience, and broader industry advocacy. Powell will become chairman of Kraken’s board of directors.

Ethereum NFTs driving crypto adoption in Central, South Asia: Report

As per a Chainalysis report, non-fungible tokens (NFTs) may be the biggest driver of crypto adoption in Central, Southern Asia, and Oceania (CSAO). NFT-related actions accounted for 58% of all web traffic going to crypto services from this region in Q2 2022. Another 21% of traffic in the quarter went to websites of play-to-earn blockchain games like Axie Infinity and STEPN.

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Nasdaq Establishes Crypto Unit – Top Crypto Updates

Nasdaq establishes crypto unit

Nasdaq, the world’s second-largest stock exchange, announced the launch of a new business called “Nasdaq Digital Assets”. Initially, the unit will offer custody solutions for Bitcoin and Ether to institutional investors. Nasdaq also announced the expansion of its anti-financial crime technology with new capabilities and coverage for the crypto ecosystem.

Crypto prices today: Bitcoin falls 3.3%, ETH down 3.6%

Bitcoin is currently trading at $18,851.70, a decline of 3.3% over the previous day. Ethereum is down 3.6% over the last 24 hours to $1,322.59. Solana fell 3.12% to $31.55, while Cardano is trading lower by 1.5% at $0.443. Polkadot (DOT) fell 3% to $6.2. The global crypto market cap stands at $918.34 billion, a 2.3% decline over the previous day.

Nova Labs, T-Mobile launch crypto-powered 5G mobile service

Nova Labs and T-Mobile have partnered to launch Helium Mobile, a 5G wireless service for smartphones. It will use Helium’s decentralized, crypto-powered 5G network and T-Mobile’s network, and switch between the two when needed. Helium Mobile will allow users to opt into receiving the network’s MOBILE token rewards in exchange for providing anonymized data about their network usage.

Latest draft of US crypto law would temporarily stablecoins: Report

Leaders of the House Financial Services Committee continue to negotiate the terms of a proposed bill to regulate crypto. As per a Bloomberg report, the latest draft legislation would ban algorithmic stablecoins like TerraUSD (UST) for two years. During this period, regulatory agencies will conduct a study of “endogenously collateralized” tokens.

Crypto needs global regulatory framework: IMF

The International Monetary Fund (IMF) has called on financial regulators around the world to come together to develop a “global regulatory framework” for crypto assets. The move would bring order to the markets, help instill consumer confidence, lay out the limits of what is permissible, and provide a safe space for useful innovation to continue.

The IMF has stressed the importance of a quick global response to avoid national regulators from being “locked into differing regulatory frameworks”.

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SEC Claims All of Ethereum Falls Under US Jurisdiction – Top Crypto Updates

SEC claims all of Ethereum falls under US jurisdiction

The U.S. Securities & Exchange Commission (SEC) claimed that Ethereum transactions take place in the United States as Ethereum nodes are “clustered more densely” in the U.S. than in any other country. The SEC argument is found within a Sept. 19 lawsuit against crypto researcher and YouTuber Ian Balina.

It was alleged that Balina conducted an unregistered offering of Sparkster (SPRK) tokens when he formed an investing pool on Telegram in 2018.

Crypto prices today: Bitcoin up 5.6%, ETH rises 6%

Bitcoin is currently trading at $19,502.37, an increase of 5.6% over the previous day. Ethereum is up 6.11% over the last 24 hours to $1,369.76. Solana rose 5.29% to $32.6, while Cardano is trading higher by 3.19% at $0.45. Polkadot (DOT) rose 3.8% to $6.37. The global crypto market cap stands at $937.46 billion, a 4.02% increase over the previous day.

WazirX delists USDC stablecoin

Indian crypto exchange WazirX announced it would delist USD Coin (USDC), Pax Dollar (USDP), and TrueUSD (TUSD). It would auto-convert users’ existing balances on those three stablecoins into BUSD, the stablecoin developed by Binance. The exchange said the move was meant “to enhance liquidity and capital efficiency for users.”

UK Financial Regulator issues consumer warning against FTX

The UK’s Financial Conduct Authority (FCA) has issued a consumer warning against crypto exchange FTX for operating within the jurisdiction of the United Kingdom without authorization. FCA stated that firms that have not registered and adhered to the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations of 2017 are at risk of being subject to its criminal and civil enforcement powers. 

South Korea requests Interpol’s help in Terraform Labs probe

South Korean prosecutors have asked Interpol to issue a fugitive alert for the founder of Terraform Labs, Do Kwon, as they investigate a $40 billion crash of the firm’s crypto (LUNA). Recently, a court issued arrest warrants for Kwon and five other people connected to Terraform Labs as prosecutors investigate allegations of fraud and financial crimes.

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Ethereum Merge Hits Graphics Card Makers – Top Crypto Updates

Ethereum Merge hits graphics card makers

Ethereum’s shift from proof-of-work to environment-friendly proof-of-stake (called ‘The Merge’) will result in sizeable dumping of graphic cards (GPUs). It will also hit manufacturers such as Nvidia and AMD. GPUs are no longer needed on a mass scale and will go for a significant discount, said experts. 

Crypto prices today: Bitcoin falls 8%, ETH crashes 11%

Bitcoin is currently trading at $18,447.87, a decline of 8.05% over the previous day. Ethereum is down sharply by 11.32% over the last 24 hours to $1,291.30. Solana fell 7.67% to $3.18, while Cardano is trading lower by 9.85% at $0.436. Polkadot (DOT) fell 10.9% to $6.15. The global crypto market cap stands at $902.16 billion, a 7.3% decline over the previous day.

Dogecoin now 2nd largest proof-of-work coin after Ethereum Merge

With the Ethereum merge completed (switching to a proof-of-stake system), Dogecoin is now the second largest proof-of-work coin after Bitcoin in terms of market capitalisation. Dogecoin is currently the tenth-largest crypto with a market cap of $7.95 billion.

DOGE is mined using proof of work. Miners use computers and a massive amount of energy to solve complex mathematical equations, validate transactions, and receive DOGE as a reward.

Yuga Labs hires Chief Gaming Officer for Web3 gaming push

Yuga Labs, the company behind the Bored Ape Yacht Club NFT collection, has hired Spencer Tucker as its first Chief Gaming Officer (CGO). Tucker will supervise the development of the firm’s Web3 gaming projects, starting with Yuga’s “Otherside” metaverse. Earlier this year, Otherside saw a massive surge of transactions and NFT land sales worth $561 million within 24 hours.

ECB picks Amazon, four others to pitch digital euro prototype

European Central Bank (ECB) has chosen Amazon, Spain’s CaixaBank, France’s Worldline SA, and Italy’s Nexi SpA to develop a prototype for a digital euro. This exercise aims to test how well the technology behind a digital euro integrates with prototypes developed by companies. ECB is likely to be among the first advanced-economy central banks to issue a digital form of its currency.

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India Drops Two Rankings in Global Crypto Adoption Index – Top Crypto Updates

Antalya, Turkey - May 21, 2021: Close up shot of Bitcoin and alt coins cryptocurrency

India drops two rankings in global crypto adoption index

According to crypto analysis platform Chainalysis, India has fallen two slots to the fourth place in a list of 20 countries with the highest crypto adoption rate. This is primarily due to crypto tax and regulatory uncertainty. Vietnam continued to remain at the top spot, followed by the Philippines and Ukraine. The United States moved up to fifth in the 2022 Global Crypto Adoption Index Top 20.

Crypto prices today: Bitcoin falls 2.6%, ETH crashes 10%

Bitcoin is currently trading at $19,772.6, a decline of 2.6% over the previous day. Ethereum is down sharply by 10.2% over the last 24 hours to $1,473.45. Solana fell 5% to $32.91, while Cardano is trading lower by 2.6% at $0.467. Avalanche (AVAX) fell 5.1% to $18.21. The global crypto market cap stands at $963.11 billion, a 3.41% decline over the previous day.

Epic Games Store launches first NFT game

Epic Games Store has launched its first non-fungible token (NFT) powered Web3 game called Blankos Block Party. It lets users play and collaborate in a colorful online world, and is inspired by designer/vinyl toy culture. NFTs are used in the game to represent unique items like avatar designs and accessories. These NFTs can be bought and sold through the game’s marketplace. 

Ethereum energy usage, carbon footprint down 99.99% after merge: Report

Ethereum’s merge was successfully completed overnight. A report from the Crypto Carbon Ratings Institute (CCRI) says that the network has cut its energy usage and carbon footprint by approximately 99.99% each. Ethereum’s estimated annual CO2 emissions have declined from over 11 million tonnes to just under 870 tonnes.

Celsius files for permission to sell stablecoin holdings

Crypto lending firm Celsius Network has asked the court for authorization to sell its stablecoin holdings in order to generate liquidity to help fund its operations. The company is currently undergoing Chapter 11 bankruptcy proceedings. Celsius filed for bankruptcy in July, and is currently before the U.S. Bankruptcy Court for the Southern District of New York.

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Ethereum Successfully Executes Merge Event – Top Crypto Updates

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Ethereum successfully executes Merge event

At 2:45 am EST (12:15 pm IST), the Ethereum network successfully began its transition from proof of work to proof of stake.

In proof of work, Ethereum (ETH) was generated by “mining,” an energy-intensive process by which individuals directed huge amounts of computing power at difficult-to-solve puzzles. Under the proof of stake mechanism, new ETH is generated by individuals and entities pledging large amounts of pre-existing ETH. The transition is anticipated to be faster, more scalable, and 99.9% more environmentally friendly.

Crypto prices today: Bitcoin falls 0.4%, ETH up 0.6%

Bitcoin is currently trading at $20,230.4, a decline of 0.43% over the previous day. Ethereum is up 0.66% over the last 24 hours to $1,624.23. Solana rose 2.31% to $34.33, while Cardano is trading higher by 1.3% at $0.479. Avalanche (AVAX) rose 0.51% to $19.21. The global crypto market cap stands at $994.19 billion, a 0.4% decline over the previous day.

Binance sees record rise in Indian users after imposition of new crypto tax

The number of Indian user sign-ups has surged on global crypto exchange Binance after a 1% tax deducted at source (TDS) came into effect in July. Binance app downloads in India jumped to 429,000 in August 2022. Meanwhile, daily trading volumes at several India-based crypto exchanges have reportedly declined over 90% since the 1% TDS took effect.

South Korean authorities issue arrest warrant for Terra’s Do Kwon

A court in Seoul issued an arrest warrant for Do Kwon, the CEO and founder of TerraForm Labs, following an ongoing investigation into the collapse of the Terra ecosystem. The warrant also targets five more individuals who are currently residing in Singapore for violation of capital market rules. Terra Labs’ stablecoin UST and its sister token LUNA crashed heavily in May 2022. It resulted in the wipeout of at least $40 billion of investors’ wealth.

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Linux Foundation to Form Open-Source Digital Wallet Initiative – Top Crypto Updates

Linux Foundation announces open-source digital wallet initiative

The Linux Foundation announced plans to form the OpenWallet Foundation (OWF), a new collaborative effort to develop open-source software to support interoperability for a wide range of wallet use cases. The initiative has gained support from several technology companies, including Accenture and Avast. Wallets created under the OWF umbrella will support a wide variety of use cases such as identity verification, payments, and digital key management.

Crypto prices today: Bitcoin falls 9%, ETH down 5.6%

Bitcoin is currently trading at $20,295.57, declining sharply by 9.2% over the previous day. Ethereum is down 5.6% over the last 24 hours to $1,611.66. Solana crashed 12.92% to $33.47, while Cardano is trading lower by 5.8% at $0.473. Avalanche (AVAX) fell 10.4% to $19.10. The global crypto market cap stands at $997.68 billion, a 6.5% decline over the previous day.

Disappointing US inflation numbers have spooked traders across the globe. Markets are expecting another series of aggressive rate hikes by the US Federal Reserve to curb rising prices.

Charles Schwab, Citadel and Fidelity launch EDX crypto exchange

Investment firm giants Charles Schwab, Citadel, and Fidelity Digital Assets announced the launch of a new crypto exchange named EDX Markets (EDXM). The exchange will use technology built by stock exchange The Members Exchange (MEMX). EDXM will serve both institutions and retail investors, giving them a “safe entry point” to crypto.

Bitcoin mining difficulty reaches all-time high

According to data from BTC.com, Bitcoin mining difficulty rose by 3.45% on Wednesday, reaching an all-time high. The mining difficulty reading stood at 32.05 trillion. The difficulty level, which changes once every two weeks, has been on the rise since its Aug. 4 adjustment. It previously hit a high of 31.25 trillion on May 11.

Bitcoin mining difficulty is a measure of how hard a miner would have to work to verify transactions in a block to add to the blockchain, or “dig out” Bitcoins.

Indian citizen pleads guilty in crypto insider trading case in the US

A 26-year-old Indian citizen has pleaded guilty in the first-ever crypto insider trading case in the US. Nikhil Wahi, his brother, and their Indian-American friend made ill-gotten profits totaling over a million dollars. Wahi pleaded guilty to wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading in crypto assets by using confidential Coinbase information. 

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Fidelity Considers Bitcoin Trading on Brokerage Platform – Top Crypto Updates

Fidelity considers Bitcoin trading on brokerage platform: WSJ

As per a Wall Street Journal report, financial services giant Fidelity Investments is considering a move that would allow its individual brokerage customers to trade Bitcoin (BTC). Fidelity and other financial services firms like BlackRock continue to signal institutional interest in crypto despite market crashes and increased regulatory scrutiny.

Crypto prices today: Bitcoin up 2.2%, ETH falls 1.8%

Bitcoin is currently trading at $22,375.54, an increase of 2.2% over the previous day. Ethereum is down 1.81% over the last 24 hours to $1,71.30. Solana jumped 9.2% to $38.5, while Cardano is trading lower by 0.9% at $0.503. Avalanche (AVAX) rose 4.18% to $21.44. The global crypto market cap stands at $1.07 trillion, a 0.42% increase over the previous day.

Starbucks taps ETH scaling network Polygon for NFT rewards

Starbucks announced plans to offer its customers non-fungible token (NFT) rewards through Polygon, an Ethereum scaling network. The Starbucks Odessey program will allow customers and employees in the United States to earn digital stamps as rewards. They can also purchase and trade limited edition digital stamps. Each stamp will be minted as an NFT.

Huobi to delist 7 privacy coins, citing ‘latest financial regulations’

Crypto exchange Huobi terminated trading for Dash (DSH), Decred (DCR), Firo (FIRO), Monero (XMR), Verge (XVG), Zcash (ZEC), and Horizen (ZEN) on September 6. Deposits for each coin will also cease as of September 12, but withdrawals will continue to function. These tokens will be completely delisted on Sept 19. This is to comply “with the latest financial regulations” and Huobi’s own global token management rules. 

Argentina’s tax authority conducts raids on secret crypto miners

Argentina’s tax collection agency (AFIP) conducted raids for the first time in search of secret crypto miners. In San Juan, AFIP found an agricultural producer housing crypto mining equipment in a fruit cooling area. Many miners in the country carry out crypto mining activities secretly to avoid paying taxes. They take advantage of residential electricity tariffs, which are heavily subsidized when compared to industrial rates.

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SEC to Open Digital Asset Office – Top Crypto Updates

Kiev, Ukraine - September 22, 2017: Studio shot of Golden Bitcoins Coins and dollar bills. The Bitcoin was invented by Satoshi Nakamoto in 2008 as a digital form of money This is a close up photo of several gold plated bitcoins together symbolizing th

SEC to open digital asset office

The U.S. Securities & Exchange Commission (SEC) is planning to launch a new office dedicated to reviewing filings related to digital assets. The Office of Crypto Assets to the Division of Corporation Finance’s Disclosure Review Program (DRP) will be responsible for reviewing the company filings of crypto issuers. The SEC said this move will allow the DRP to “better focus its resources and expertise to address the unique and evolving filing review issues related to crypto assets.”

Crypto prices today: Bitcoin up 1.8%, ETH falls 1%

Bitcoin is currently trading at $21,888.69, an increase of 1.8% over the previous day. Ethereum is down 1.01% over the last 24 hours to $1,740.31. Solana rose 1.75% to $35.05, while Cardano is trading higher by 0.02% at $0.507. Avalanche (AVAX) rose 1% to $20.53. The global crypto market cap stands at $1.06 trillion, a 0.63% increase over the previous day.

ED has unfrozen bank accounts after investigation: WazirX

The Enforcement Directorate (ED) has unfrozen crypto trading platform WazirX’s bank accounts. It can now resume banking operations after almost a month. “After an in-depth internal investigation, WazirX noticed that most of the users whose information was sought by ED were already identified as suspicious by WazirX internally and were blocked in 2020-2021,” said the crypto platform in a blog.

ED is conducting investigations on 16 fintech companies to crack down on Chinese loan apps, many of which are suspected of laundering money. Some of them happened to use the WazirX platform. 

Ethereum geared up for The Merge

Ethereum’s much-awaited software update named ‘The Merge’ is just two days away. The update will shift Ethereum’s mechanism to proof-of-stake (PoS) from existing proof-of-work (PoW). According to the Ethereum Foundation, PoS will cut Ethereum’s energy usage by around 99.95%.

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White House Calls for Crypto Mining Standards – Top Crypto Updates

White House calls for crypto mining standards

The White House Office of Science and Technology Policy called for the U.S. to conduct further research on the energy impact of crypto mining in order to set standards for the industry. Crypto mining, particularly Bitcoin (BTC) mining, uses a lot of electricity, which undermines U.S. sustainability goals. The Biden administration also wants energy regulators and grid operators to ensure that crypto mining does not drive up prices for consumers.

Crypto prices today: Bitcoin up 7.3%, ETH rises 5%

Bitcoin is currently trading at $20,647.08, an increase of 7.25% over the previous day. Ethereum is up 4.9% over the last 24 hours to $1,708.37. Solana rose 8.6% to $35.26, while Cardano is trading higher by 3.6% at $0.493. Polygon (MATIC) rose 5% to $0.879. The global crypto market cap stands at $1.03 trillion, a 5.14% increase over the previous day.

Florida man pleads guilty to stealing $100 million in crypto Ponzi scheme

The U.S. Department of Justice said a Florida man pleaded guilty in federal district court to participating in a crypto-based Ponzi scheme that defrauded investors of approx. $100 million. Joshua David Nicholas acted for nearly two years as the so-called “head trader” of EmpiresX, a crypto investment platform that promised investors daily profits of 1%.

Queen Elizabeth II ETH NFT tribute project holds final auction

QueenE, an Ethereum-based NFT project, is holding its final Gen1 artwork auction following the death of England’s Queen Elizabeth II. The project launched in July 2022 and has released 73 total pieces of artwork. It was designed to launch new procedurally generated pieces at a steady clip for the rest of the Queen’s life.

Crypto intermediaries should register with US SEC: SEC Chair

Companies that help facilitate transactions in the crypto market should register with the U.S. Securities and Exchange Commission (SEC) just like other market intermediaries, said the agency’s chair Gary Gensler. He said intermediaries in the crypto market provide a range of functions regulated by the SEC, including operating as an exchange, broker-dealer, clearing agent, and custodian.

“Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities,” he said.

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Binance US Launches High-Yield ETH Staking – Top Crypto Updates

Binance US launches high-yield Ethereum staking

Binance US is the latest major crypto exchange to launch Ethereum staking on its platform. Users can now stake the second-largest crypto by market cap and earn rewards at a starting rate of 6% annual percentage yield (APY). The company’s competitors Lido and Coinbase currently offer 3.5% and 3.25% APY, respectively, on staked ETH.

Crypto prices today: Bitcoin up 2.4%, ETH rises 7%

Bitcoin is currently trading at $19,255.34, an increase of 2.4% over the previous day. Ethereum is up 7.04% over the last 24 hours to $1,626.24. Solana rose 4.32% to $32.44, while Cardano is trading higher by 2.39% at $0.474. Uniswap (UNI) rose 4.3% to $6.10. The global crypto market cap stands at $975.66 billion, a 3.75% increase over the previous day.

Celsius has been insolvent since 2019: Vermont Regulator

Vermont state officials have asked for broader powers to investigate Celsius. They have alleged that the troubled crypto exchange artificially inflated the price of its CEL token at the expense of retail investors going back over three years. “Excluding the company’s Net Position in CEL, liabilities would have exceeded its assets since at least February 28, 2019,” said Vermont assistant general counsel Ethan McLaughlin.

Voyager Digital to auction off assets next week

Bankrupt crypto broker Voyager Digital will auction off its remaining assets next week (Sept 13). Around 22 parties were in meaningful discussions to place a bid for Voyager’s assets as of early August, according to the group’s legal team. Voyager has also been working to return some money to customers. On August 5, the New York bankruptcy court handling the case approved a proposal to return $270 million to affected customers.

GameStop partners with crypto marketplace FTX

GameStop Corp announced a partnership with crypto exchange FTX US to increase its presence in the cryptocurrency space. The company will start selling FTX gift cards at some of its stores as part of the partnership. Earlier this year, GameStop launched a digital wallet and said it would enable transactions in a marketplace it is building for gamers to buy, sell, and trade non-fungible tokens (NFTs).

Crypto lender Nexo introduces spot, futures trading

Crypto lender Nexo has launched a spot, margin, and futures trading platform for retail clients with the launch of Nexo Pro. The platform aims to offer retail clients access to institutional-grade aggregated liquidity with no minimum funding requirement. The product has been rolled out to the five million Nexo clients with up to a 50% discount on standard fees.