Crypto focused merchant bank Galaxy Digital, and Bakkt, the crypto custodian and derivatives exchange, have announced a partnership to launch a “white-glove” service for asset managers to buy and store bitcoin.

Federal Reserve Chair Jerome Powell’s remarks at a press conference yesterday have got crypto enthusiasts excited about the prospects for digital assets.

Digital assets platform Centrapay announced Tuesday that it had signed a deal with Coca-Cola Amatil (CCA), one of the largest bottlers and distributors of Coca Cola products, to allow anyone to pay with crypto for Coca Cola.

Top stories in the Crypto Roundup today:

• Galaxy Digital and Bakkt Partner to Launch Bitcoin Trade and Custody Service
• Fed Chair Jerome Powell’s Words Encourage Crypto Community
• You Can Now Use Bitcoin to Buy Coca Cola in Australia and New Zealand

At the time of writing, bitcoin (BTC) is trading at $9,808.24 (0.62%) with a daily Top Tier volume of $3.76 bn. As for ether (ETH), it is trading at $246.75 (1.23%) with a daily Top Tier volume of $859.89 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,264.08 (0.09%).

Galaxy Digital and Bakkt Partner to Launch Bitcoin Trade and Custody Service

Crypto focused merchant bank Galaxy Digital, and Bakkt, the crypto custodian and derivatives exchange, have announced a partnership to launch a “white-glove” service for asset managers to buy and store bitcoin.

The joint press release explained that Galaxy Digital Trading ("GDT"), Galaxy Digital's affiliate, is "providing market access and trading capabilities" while qualified custodian Bakkt Warehouse -- which is regulated by the New York State Department of Financial Services (NYDFS) -- is "safeguarding digital assets for clients."

The press release also explained the proposed synergy between the two companies:

"This direct connectivity between Galaxy Digital and Bakkt enables the two companies to offer clients best-in-class efficiency through the entire process of onboarding, trade execution and storage of their digital assets."

Fed Chair Jerome Powell’s Words Encourage Crypto Community

Federal Reserve Chair Jerome Powell’s remarks at a press conference yesterday have got crypto enthusiasts excited about the prospects for digital assets at a time of unprecedented financial stimulus and soaring equity prices.

Talking to press about the Fed’s monetary policy, following the conclusion of a two-day meeting of the Federal Open Market Committee (FOMC), one comment in particular sparked excitement among Bitcoiners and the broader crypto community, with Powell remarking:

“The Fed would never hold back support for the economy because it thinks asset prices are too high. Popping the asset bubble would hurt job-seekers."

With Bitcoin surging to $9,978 around the conference, MultiCoin capital Managing Partner Tushar Jain summed up the mood, commenting in a tweet:

“Reminds me of an old Soros quote: "When I see a bubble forming, I rush in to buy, adding fuel to the fire" This upcoming bubble is going to make 1999 look tame.”

You Can Now Use Bitcoin to Buy Coca Cola in Australia and New Zealand

Digital assets platform Centrapay announced Tuesday that it had signed a deal with Coca-Cola Amatil (CCA), one of the largest bottlers and distributors of Coca Cola products, to allow anyone to pay with crypto for Coca Cola.

Using the Sylo Smart Wallet, the move now allows customers to pay for items sold by CCA's 2000+ vending machines (with a QR code payment sticker) in Australia and New Zealand.

Centrapay CEO Jerome Faury had this to say about a future his firm envisions "where value is transferred as easily and efficiently as information":

“We’re working to create a future where individuals are in control of their own data and digital identity. Brands can connect directly and ethically with people, empowering them to make the right purchasing decision, whilst also supporting their retail and other distribution partners.Now we’ve shown how it can work in Australia and New Zealand, we’re looking to grow the business globally.”

Don’t miss the webinar today!

Last chance to register for today's webinar, featuring CryptoCompare’s Commercial Director James Harris alongside a panel of industry leaders including Greg Winterton (AlphaWeek), George Zarya (BEQUANT), Haydn Jones (PwC), Dr. Ruth Wandhöfer (Gauss Ventures) and Jeff Dorman (Arca). Join us to explore what the post-COVID financial markets mean for digital assets, institutional adoption, and more!

Topics include:

• Market adaptation and the future of digital assets
• Institutional adoption in a post-COVID financial market
• Bitcoin as a safe haven asset 
• What to expect for the rest of 2020 and beyond

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