Transfers via Coinbase Wallet, Grayscale ETF preparations and other crypto-industry developments

We have gathered the week’s most important crypto-industry news from participants in the sector.

Coinbase launches money transfers via links in social networks and messaging apps

The cryptocurrency exchange Coinbase has launched a service of free and instant transfers via links in social networks and messaging apps. To use it, you need to create a payment and send the link.

«We have simplified sending money wherever you can share a link. For example, in messaging apps WhatsApp, iMessage and Telegram, in social networks Facebook, Snapchat, TikTok and Instagram, even by email», — according to the announcement.

The sender and recipient of digital assets must have a Coinbase Wallet. If a link has been sent to someone and they do not yet have the app, they will be prompted to download it from the App Store or Google Play.

If funds are sent and not claimed within two weeks, they will automatically return to the sender.

In March the organization received a notice SEC about an investigation into its activities. The agency was interested in its operations, including its Coinbase Wallet service. The exchange declined to change its business model due to the Commission’s lawsuit.

Crypto.com receives EMI licence from the UK Financial Conduct Authority

The cryptocurrency platform has received registration as an electronic money institution (EMI) from the regulator in the United Kingdom.

The corresponding license allows firms to issue and manage electronic money, as well as provide a broader range of financial services.

Earlier, EMI licenses were granted to Coinbase and Gemini. In July, the Dutch Central Bank approved Crypto.com’s registration as a VASP.

Nubank enters partnership with Talos to promote cryptocurrency trading in Brazil

Brazil’s largest neobank Nubank announced a partnership with the infrastructure provider Talos to reduce the cost of trading digital assets.

«Thanks to the collaboration, customers […] will benefit from lower costs thanks to Talos’ smart order-routing mechanism involving multiple liquidity providers», — the statement says.

Nubank’s services are used by 90 million customers in Brazil, Mexico and Colombia.

The neobank offered the ability to buy, sell and hold Bitcoin and Ethereum in 2022. The partner became Paxos.

Grayscale hires former Invesco ETF chief to oversee GBTC-to-ETF conversion

Grayscale appointed former Invesco Americas ETF head John Hoffman as managing director and head of distribution and partnerships to oversee the conversion of GBTC into a spot exchange-traded fund.

On November 20, company leadership held a meeting with the U.S. Securities and Exchange Commission to discuss the process.

In June 2022, the asset manager sued the SEC for denying the conversion of its flagship trust. The company filed the corresponding application back in October 2021.

In late August 2023, the court granted Grayscale’s motion and ordered the regulator to reconsider the decision. Later, the appellate court officially affirmed the verdict.

Also on ForkLog:

• Robinhood launched the app for cryptocurrency trading in the EU.
• Brazil’s largest bank opened up trading of Bitcoin and Ethereum.
• The Swiss crypto bank SEBA underwent a rebranding to AMINA Bank AG.

What to read this weekend?

A U.S. district judge in Seattle has barred Changpeng Zhao from returning home to the UAE — he will remain in the country until the court hearing on February 23. Kaiko analysts analyzed the impact of the Binance deal and its former CEO’s dealings with U.S. authorities on the platform’s position and the competitive landscape more broadly.