Bitcoin surpasses $67,000, and XEROF expands services

In this week's newsletter, our research team noted several significant developments, including Bitcoin surging past $67,000, El Salvador's Bitcoin holding rising above 40%, and, according to Ethereum co-founder Joe Lubin, there is currently a bullish market sentiment.

At XEROF, we're also excited to announce our expanded services tailored to meet the needs of web3 companies seeking inward investment. Many web3 companies appeal to investors who prefer investing in cryptoassets like stablecoins for easier cross-border transactions. However, web3 companies often require fiat due to their operational expenses. This is where XEROF comes in. We can assist by receiving these digital assets, converting them into fiat, and depositing the funds into operational bank accounts. We believe this service enhances efficiency and opens new avenues for cross-border transactions.

On a related note, I also wanted to highlight the importance of clear communication between founders and investors regarding currency denomination and management strategies. Educating investors on the standard practice of converting to fiat and the potential risks associated with large exchanges can go a long way in fostering trust and mitigating friction.

We remain committed to helping our clients better manage investments in the web3 space. If you would like to learn more, please don't hesitate to contact our team to arrange a meeting.

Until next week,
Marc

Market Moves & News of Note 

Bloomberg: Bitcoin tops $67,000 on ETF-led demand despite GBTC outflows
Bitcoin has surged past $67,000, driven by ETF demand, despite significant outflows from GBTC. This highlights sustained interest and potential for further appreciation, making cryptoasset markets an area of keen future interest for investors, especially with the upcoming halving event next month.

CoinDesk: El Salvador's Bukele says value of country's Bitcoin holdings up over 40%
El Salvador's Bitcoin holdings have surpassed $147 million with over 40% profit since September 2021. President Bukele's disclosure of potential liquidation profits and the country's reliance on a citizenship program for additional Bitcoins signal a unique approach to digital asset acquisition in this region.

Cointelegraph: Crypto industry momentum ‘is picking up, and it's unstoppable
Ethereum co-founder Joe Lubin's remarks at ETHDenver suggest a bullish sentiment in the cryptoasset market, emphasising the potential of decentralised trust and the impact of ETFs. Lubin's optimism hints at a growing acceptance of digital assets despite regulatory challenges.

Views from Switzerland

Other reading, insights and resources from XEROF.

Best payment solutions for web3 companies in 2024
On-and-off-ramp solutions serve as essential bridges between digital assets and fiat currencies for web3 companies. Learn what to look for when choosing the best on/off-ramp provider.

From stablecoins to consumer protection – industry identifies next big payments trend for 2024
In a recent Fintech Times article, XEROF CEO Marc Taverner discusses how stablecoins like USDT and USDC will become a major payment trend in 2024 due to their increasing global usage and versatility. Marc also examines the competition between central bank digital currencies (CBDCs) and stablecoins. 

Must know for 2024: digital wallets and payments
In 2024, Europe is experiencing a move towards digital wallets and a cashless society, fuelled by the rise in cross-border payments driven by globalisation and e-commerce. XEROF CEO Marc Taverner stresses the importance of understanding Europe's diverse payment preferences to ensure businesses remain competitive.

XEROF Infographic
Image Source: XEROF

About XEROF

XEROF is a Swiss-licensed Crypto Gateway that offers exchange services for customers who possess crypto wallets and want to use them as fiat currency to purchase real estate properties and luxury goods.

Learn more about XEROF