UK FinTech Says You Can Now Spend NEO Anywhere That Takes Apple Pay or Google Pay

Siamak Masnavi

On Monday (April 29), UK-based FinTech startup Zeux announced that it is adding support for NEO to its "digital payment wallet", so that it will be possible to spend NEO at any merchant worldwide that accepts Apple Pay, Google Pay, or Samsung Pay.

Here is a brief description of NEO from its website:

"NEO is an open source project driven by the community. It utilizes blockchain technology and digital identities to digitize assets and automate the management of digital assets using smart contracts. Using a distributed network, it aims to create a 'Smart Economy'.
NEO was founded in 2014 and open sourced on GitHub in June 2015. Its MainNet was released in October 2016 and has been running in stable capacity for two years. Its vision of a 'smart economy' was set up along with the project rebranding in 2017."

This is what Abra wrote in July 2018 in its "Ultimate Guide to Altcoins" document about QTUM:

"Started by a blockchain research company called Onchain in 2014, the project originally called antshares was rebranded as NEO in 2017. NEO focuses on the verification of digital identities, and smart contracts (contracts built from code that execute and run themselves with rules on how funds can be transferred). Calling itself a distributed smart economy network, NEO is powered by gas in the same way that ethereum runs on ether... In other words, a separate token known as gas is needed to run smart contracts, depending on the computing power used. The price of NEO and the price of NEO gas are listed as two different assets on the coin market cap charts."

As for Zeux, in a blog post published earlier today, it says that it is "committed to providing the mass with a simpler way to pay, bank and invest," which it does by "integrating all the services onto one platform  — the Zeux app, which provides a digital bank account on top of a digital wallet address for each user, allows them to pay at all stores, and offers a range of investment products provided by different financial institutions."

Zeux, which is registered with the UK's financial regulator, the Financial Conduct Authority (FCA), "charges no fees for opening an account, money transfers, top-ups, withdrawals or payment fees on fiat and cryptos."

Frank Zhou, Founder and CEO of Zeux,said:

“We’re delighted to announce that we will be adding NEO to our list of cryptocurrencies. We believe that NEO is paving the way for a smart economy by giving developers the tools to deploy and scale their own smart contract applications without learning another unique language. This strategic partnership will help us build upon our current infrastructure and expand our service to a larger audience.”

Zeux launched its mobile app in the UK earlier this month, and expects to make it available within the rest of Europe later this year (soft launch in June, official launch in November). Support for the NEO cryptocurrency will be added to the Zeux app on 7 May 2019. 

Featured Image Courtesy of the NEO Team

Coinbase Outbids Binance to Acquire Crypto Prime Broker Tagomi in All-Stock Deal

Francisco Memoria

San Francisco-based cryptocurrency exchange Coinbase has announced t is acquiring crypto prime broker Tagomi, which focuses on servicing institutional investors.

The companies did not disclose the price of the acquisition, but a source familiar with the deal revealed Coinbase paid entirely with its privately-held stock. The source added that media reports in November claiming Tagomi was being sold for $150 million overstated the value.

According to Fortune, a source familiar with Tagomi revealed the price was “close to $100 million,” and added the San Francisco-based firm outbid leading cryptocurrency exchange Binance to acquire Tagomi.

Tagomi was launched in December 2018, and gained attention in the cryptocurrency space for the veterans of the traditional financial world in its executive team. These included Goldman Sachs’ former head of electronic trading Greg Tusar and Union Square Ventures partner Jennifer Campbell. Tagomi’s financial backers include billionaire tech mogul Peter Thiel.

Tagomi’s focus on institutional investors gave large traders additional options in the space, as before they had to rely on over-the-counter trading desks for large transactions. In its announcement, Coinbase noted the acquisition will allow it to better serve institutional investors. It reads:

The addition of Tagomi will round out our product suite for the fast-growing institutional trading market. It will allow us to offer custody, professional trading features, and prime brokerage services on one platform, giving sophisticated investors the seamless, powerful trading experience they have come to expect in equities and FX markets.

Fortune reports Emilie Choi, Coinbase’s chief operating officer, noted Tagomi will initially operate as a stand-alone brand. Over time, however, it will likely be integrated into Coinbase Pro, Coinbase’s platform for professional traders.

Featured image via Pixabay.