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Decentralized Finance Goes Mainstream with MiamiCoin
09/27/2021 08:54 AM ET
Sep 27, 2021 (Financial News Media via COMTEX News Network) -- FN Media Group Presents Microsmallcap.com Market Commentary
New York, NY - September 27, 2021 – Cryptocurrencies aren't just the future of finance, they're here – now. Cities are now getting in on the crypto action, most notably Miami and its MiamiCoin. MiamiCoin is the first CityCoin, which is a city-based token. The city of Miami recently voted to approve accessing approximately $5 million worth of the cryptocurrency. The coin is a new way of funding government projects and that elected leaders can use to improve quality of life for city residents. One of the major hurdles for cryptocurrency was building understanding and acceptance for the business and political sphere. Now, cities are getting on board with cryptocurrencies as a way to fund their municipal budgets and change the lives of citizens. The companies helping facilitate this wave of change are moving the needle of progress faster now. Some leaders like WonderFi Technologies Inc. (OTCPK:WONDF) (NEO:WNDR), Coinbase (NASDAQ:COIN), MicroStrategy (NASDAQ:MSTR), Riot Blockchain Inc. (NASDAQ:RIOT), and Mobilum Technologies Inc. (OTCPK:MBLMF) are developing the tools and blockchain technologies that will underpin future financial infrastructure for governments around the world.
Stablecoins Key to WonderFi's Strategy and Future DeFi Applications – WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF), the namesake decentralized finance company of Shark Tank star and investor Kevin O'Leary, is making the wild-west environment of cryptocurrencies safe, simple, and accessible for investors around the world, from retail, to institutional. The company aims to bring together multiple applications and features to simplify the world of decentralized finance. Currently, with many brokers, wallets, and blockchains to choose from, the selection alone can be overwhelming. WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF) instead has a platform that â??â??allows users to access the best parts of DeFi without the level of complexity that you encounter on 99% of the platforms within the space.
The company understands that decentralized finance is critical to unlocking the potential of the global financial system and bringing the underbanked into a new system. Stablecoins are part of this strategy, as they can be tied to a fiat currency to ensure their stability. WonderFi is planning to use stablecoins are part of its treasury management strategy.
WonderFi intends to utilize certain stablecoins including USDC and DAI, and the Company will review performance, risks, and new developments in the area on an ongoing basis to continue to optimize its treasury management.
Stablecoins including USDC and DAI will be used to review performance, risks, and new development in the treasury management area on an ongoing basis. This will help the company optimize its treasury management for the future.
WonderFi also recently announced that its shares listed in the United States on the OTC Market under the symbol WONDF are eligible for electronic clearing and settlement through the Depository Trust Company in the United States. The automated system lowers costs and improves accuracy, giving investors in the US a better process and order execution for WonderFi shares. For more information about WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF), click here.
An Industry Moving the Decentralized, Freedom-Focused Agenda Forward
Coinbase (NASDAQ:COIN) is one of the biggest names and most popular exchanges in the cryptocurrency sector. On September 15, Coinbase filed an application with the National Futures Association to register as a futures commission merchant. The company wants to begin trading cryptocurrency derivatives, and this is a critical first step. Cryptocurrency futures and options are a big market, and Coinbase has not included the option in its product offerings yet. This changes the company's range of products and services to branch out and capitalize on what has become a large market.
Major software companies like MicroStrategy (NASDAQ:MSTR) are also building large cryptocurrency holdings as they realize the benefits of decentralized finance. The company recently purchased an additional $250 million in Bitcoin (BTC) increasing its total holdings to approximately $5.1 billlion. The company's strategy is to buy Bitcoin with excess cash and simultaneously develop the software business. This latest purchase of 5,050 coins at an average price of $48,099 makes MicroStrategy the biggest corporate investor in cryptocurrency.
â??â??Riot Blockchain Inc. (NASDAQ:RIOT) is one of the industry leaders in bitcoin mining and hosting, and its operational update is showing investors it has continued to increase production. Bitcoin production for August 2021 was 441 BTC, versus just 80 BTC in the same month the year before. The company is focusing on increasing production this year, and has already produced a total 2,051 BTC, a 221% increase over the same production period in 2020 of 639 BTC.
Mobilum Technologies Inc. (OTC:MBLMF) is breaking new records, announcing Total Transaction volumes of $7.7 million in August 2021, a 44% jump from September. The company aims to make traditional finance accessible through completely compliant digital payment infrastructure and digital asset management. Mobilum, like WonderFi and its peers, is advancing the mission of decentralized finance for the masses.
As cities, governments, and people around the world continue to discover and access decentralized finance products, WonderFi, and its industry peers are building the tools to make finance more accessible, secure, and simple.
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