Popular mobile payments service Cash App has integrated the Bitcoin Lightning Network as a part of an update, allowing faster and cheaper Bitcoin (BTC) transfers using the layer-two (L2) payments protocol.
Cash App is developed and owned by Block (formerly Square), a fintech firm co-founded by former Twitter CEO Jack Dorsey. The announcement of the Bitcoin L2 integration was shared as a notification on the official Cash App application, which made its way to Crypto Twitter:
The Lightning Network protocol addresses the noted limitations of the Bitcoin blockchain to improve speeds while reducing transaction fees.
Just last month, Dorsey featured in a video with Lightning Development Kit (LDK), a service developed by Spiral, a Square subsidiary focused on developing the Bitcoin ecosystem. LDK allows developers to integrate Lightning protocols into Bitcoin wallets and related services.
It appears that retail giant Walmart Inc. is getting ready to enter the Metaverse with patent filings indicating that it plans to create its own cryptocurrency and NFT collection.
The multinational retailer filed several new trademarks with the U.S. Patent and Trademark Office on Dec. 30, however, they remained unnoticed until a Jan. 16 report by CNBC shed more light on Walmart’s ambitions.
Walmart filed a total of seven patent applications at the time, including three under its existing advertising division “Walmart Connect”.
The applications included plans to create and sell “virtual goods,” including the likes of electronics, toys, appliances, apparel, and home decor. There’s also mention of a “digital currency” and “digital token”, and opportunities to buy and sell NFTs.
Meanwhile, a separate application suggests plans to trademark the Walmart brand name and logo in virtual reality (VR) and augmented reality (AR), with the possibility of introducing “physical fitness training services” in VR and AR.
This is how Walmart envisions Shopping in the #Metaverse.
Thoughts? pic.twitter.com/5l7KhoBse7 January 3, 2022
This comes as the latest in a string of recent events indicating Walmart’s interest in the Metaverse. In August, the retail giant listed a job vacancy for a “digital currency and crypto product lead” to drive digital currency strategy.
In what comes as the first major crypto sports sponsorship deal down under, the Australia Football League (AFL) has secured a partnership with Crypto.com to back its women’s league (AFLW).
The deal is worth close to $25 million over the next five years, a marked increase from the AFL’s existing $18.5 million sponsorship contract with Toyota. Crypto.com is a Singapore-based crypto exchange offering digital wallets and crypto-backed debit cards.
The partnership will mark Crypto.com’s first time sponsoring an Australian sports team. It will also be its first time sponsoring an elite women’s sports competition worldwide, a milestone that AFL Executive General Manager Customer and Commercial Kylie Rogers said she’s “proud” to be part of.
“The AFL is proud to be the first Australian sports league and elite women’s competition globally to work alongside an organization that shares our passion to progress the future of elite sport and technology.”
Crypto.com general manager Asia & Pacific Karl Mohan says that the company was attracted by Australia’s relatively high number of women interested in crypto.
“Our latest consumer research in Australia found that more than half (53%) of crypto investors were females,” he said.
“It is very encouraging to see that Australians from all walks of life, irrespective of gender or background, are very keen to adopt cryptocurrencies, and we’re excited about being their go-to platform.”
This Daily Dose was brought to you by Cointelegraph.