THELOGICALINDIAN - Spotify is allegedly advancing to add crypto payments and strengthen its representation in the Libra Association
Spotify has acquaint a job aperture for accessory administrator of payments action and innovation, the capacity of which point appear crypto adoption.
Spotify Looking to Add Crypto Payments
The accessory director’s role will be to advance “Spotify’s action aural the Libra stablecoin activity and added agenda asset & cryptocurrency space,” according to the job listing.
The new cadre will be amenable for assurance with the Libra Association, apery Spotify’s associates in the consortium.
The aggregation additionally expects the recruit to accede added acquittal options application “distributed balance technology, blockchains, cryptocurrencies, stablecoins, Central Bank Agenda Currencies (CBDCs) and added agenda assets.”
Crypto payments are still a blah breadth for best agenda companies. Nonetheless, it has becoming the absorption of the broader FinTech space, decidedly afterwards the advertisement of Facebook’s Libra, now alleged “Diem,” and the Chinese CBDC launch.
Spotify is the world’s arch audio alive belvedere with a added than $320 actor user base. Its users pan the apple with subscriptions currently answerable via acceptable acquittal methods, such as acclaim cards or wire transfers.
The asset administration close is ablution a acknowledgment program, starting with a $12 actor acquirement of its NEXO token.
Nexo will absorb $12 actor on its built-in badge in the accessible market. Confirming the account in a columnist statement, the firm’s co-founder and managing accomplice Antoni Trenchev said:
“Nexo has had addition almanac year, affording us the adaptability to accord aback to our audience and reinvest in the aggregation and the NEXO Token as an basic allotment of the business. Our aboriginal acknowledgment affairs highlights the Nexo team’s close acceptance in our built-in token’s affairs and added incentivizes investors to allotment our view.”
The aggregation looks to abide growing the amount of its token, which has already apparent notable assets this year. Since October, it’s up about 160%.
It’s hoped that the move will accolade investors who accept accurate the activity from aboriginal on.
As NEXO is an ERC-20 token, the purchases will be arresting on the Ethereum blockchain. Nexo has set up an Investor Protection Reserve with its own abode on the network. The buybacks will accept a vesting aeon of at atomic 12 months afterwards repurchase, and bound tokens won’t be acceptable for dividends.
That agency accepted holders will account added from the affairs in the abutting annular of dividends.
Once vested, the tokens may be acclimated for acknowledgment trenches, absorption or cashback payments, dividends, or to accommodate clamminess on decentralized barter (DEX) pools.
The platform’s badge trades at $0.34 today. Its bazaar cap is aloof arctic of $190 million.
Disclosure: Nexo is a sponsor of Crypto Briefing.
