By integrating RocketFuel, companies will be able to make sure that merchants can access crypto payments from users with private wallets or crypto exchange accounts, the release stated. The service will also cover online delivery orders if they fall under permissible local regulations.
As cannabis companies have long labored to offer convenient payment options, the company said in the release its goal is to help facilitate easier payments.
“The growth of cryptocurrencies however has leveled the playing field for the industry and has given the control of transactions to merchants who no longer have to depend on banks for handling their financial transactions,” RocketFuel CEO Peter Jensen said in the release.
Decentralized finance (DeFi) has been gaining traction as of late, and Lyra plans to use the new funding to hire more engineers, CoinDesk reported.
Meanwhile, South Korea is looking into tightening regulations on tax evasion by cryptocurrency investors and high-income earners, Reuters reported. This comes as the country needs to cover rising welfare costs.
With the new developments, the government is looking at revising tax codes so that authorities can take crypto assets from tax dodgers, even if they store the crypto in digital wallets, according to Reuters.
Lastly, crypto ATM installations are seeing a continued spike, with 71.73 percent more installations in 2021 thus far, Cointelegraph reported. There were 13,993 of them as of Jan. 1, and there are 24,030 as of late July.
The U.S. is the leader in this area, seeing almost 48 installations every day, according to Cointelegraph. Crypto ATMs can now be accessed in over 75 sovereign nations.