Since the inception of cryptocurrency payments more than a decade ago, banks and finance companies have been slow to accept payments in cryptocurrency. However, all of that is set to change, with Visa and FTX leading the way with their new crypto debit card. Allowing users to make purchases charging directly to crypto in their account, demand is high with a waiting list launched to register interest. The card was received with great success earlier in the year in the US. The rollout will continue to include Asia, Europe, and South America. Industry giant Sam Bankman-Fried heads Bahamas-based FTX. FTT, the native token of FTX, surged 7% on the release of the news of the partnership.
Uniglo also fuses old with new finance to benefit its users. Uniglo utilizes the GLO Vault to grow its wealth: The Vault stores assets such as collectibles, antiques, fine wines, and art alongside contemporary investments like cryptocurrency and NFTs. Holders thus benefit from the steady rise in the value of the material assets as well as the more lucrative yet risky digital formats. Uniglo is community-centered, allowing users to vote for the way treasury funds will be spent. The treasury is backed by buying and selling taxes, meaning each time GLO is used, the community receives yet more cash flowing back into the coffers. GLO also utilizes a dual-burn mechanism to keep tokens burning, thus limiting supply. Scarcity is in-built, making it both deflationary and pressured for growth.
As Uniglo is backed by a vault of investments, including real-world tokenized assets, GLO holds proof of value (where other cryptocurrencies do not). As such, it is highly useful when being used as a payment. As a store of value, GLO may well be listed by FTX soon.
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