Binance, the largest crypto exchange, has announced its plans to launch a non-fungible token (NFT) marketplace in June. The marketplace will run mainly on the Binance Smart Chain (BSC) but it will also support the Ethereum network. 

Japanese video game maker Nexon is the latest publicly listed company to buy bitcoin with its cash reserves. On Wednesday the firm announced it had purchased 1,717 bitcoin at a total cost of $100 million, paying an average price of $58,226 per bitcoin. The investment represents an allocation of under 2% of Nexon’s cash reserves.

Crypto exchange and custodian Gemini has partnered with Mastercard to launch a crypto rewards credit card which it expects to roll out to the entire US in summer. The credit card will offer 3% cashback in bitcoin and other cryptocurrencies. Gemini has said the card will be available wherever Mastercard is accepted.

Ethereum reached an all-time high of $2,708 on Wednesday, Reuters attributed the bullish market to the news that the European Investment Bank is issuing a $100 million digital bond on Ethereum. The sale will be led by Goldman Sachs, Banco Santander and Societe Generale.

Top stories in the Crypto Roundup today:

• Binance to Launch NFT Marketplace in June
• Japanese Video Game Maker Buys $100 million of Bitcoin
• Gemini Partners with Mastercard to Launch its Crypto Rewards Credit Card
• European Investment Bank Issues $100 Million Digital Bond on Ethereum

Binance to Launch NFT Marketplace in June

Binance, the largest crypto exchange, has announced its plans to launch a non-fungible token (NFT) marketplace in June. The marketplace will run mainly on the Binance Smart Chain (BSC) but it will also support the Ethereum network. 

The marketplace is aimed at creators and traders of NFT collectibles such as digital art, music, sports and more. Binance will facilitate the auctioning of premium works and creators will pocket 90% of the proceeds, with a 10% cut going to Binance. Users will be able to buy, sell and deposit NFTs for a 1% processing fee, but the creators will subsequently receive a 1% royalty from proceeds.

Japanese Video Game Maker Buys $100 million of Bitcoin

 Japanese video game maker Nexon is the latest publicly listed company to buy bitcoin with its cash reserves. On Wednesday the firm announced it had purchased 1,717 bitcoin at a total cost of $100 million, paying an average price of $58,226 per bitcoin. The investment represents an allocation of under 2% of Nexon’s cash reserves.

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” Nexon's president and CEO Owen Mahoney said in the statement, adding: “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

Gemini Partners with Mastercard to Launch its Crypto Rewards Credit Card

Crypto exchange and custodian Gemini has partnered with Mastercard to launch a crypto rewards credit card which it expects to roll out to the entire US in summer. The credit card will offer 3% cashback in bitcoin and other cryptocurrencies. Gemini has said the card will be available wherever Mastercard is accepted.

The rewards will be paid out as the user makes a purchase in US dollars giving the “cardholders full control over their rewards” and allowing them to “benefit from any appreciation in the price of their rewards from the moment the transaction occurs" said Gemini. More than 140,000 people are in the queue to receive the card and they will not have to pay a fee to use the card.

European Investment Bank Issues $100 Million Digital Bond on Ethereum

Ethereum reached an all-time high of $2,708 on Wednesday, Reuters attributed the bullish market to the news that the European Investment Bank is issuing a $100 million digital bond on Ethereum. The sale will be led by Goldman Sachs, Banco Santander and Societe Generale.

Danny Kim, head of revenue at SFOX said the EIB digital bond issuance has “triggered a bullish institutional use case for ethereum." He went on to tell Reuters that a decline in the supply of ethereum available in the market was another bullish indicator:

"The amount of ethereum sitting on exchanges continues to drop lower and has been the lowest in the past year… With less supply on exchange available, there's less likely a chance of a major sell-off."

State of the Crypto by Top Tier Exchange Volume

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