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Valduz, Liechtenstein, 4th March, 2021, // ChainWire //

TheFutbolCoin (TFC) token aims to provide a means of financial support for disparate organizations within the football ecosystem

23rd February 2021, Vaduz, Liechtenstein — Bittrex Global GmbH will be listing the TheFutbolCoin  (TFC) cryptocurrency on its digital asset exchange.  TFC is a high utility token that is interwoven with TheFutbolApp (TFA) – a gamified social network themed around football/soccer.  TheFutbolApp, launched in September 2019, is growing organically at the same rate as Twitter in its early days and has a current play store user rating of 4.8★ out of 5★.  TheFutbolApp only accepts TFC for advertising.

TFC and TFA appeal to all elements of the football ecosystem:  3.5+ billion fans worldwide,  supporting merchants/businesses, football players, professional football clubs big and small and recreational/amateur football clubs. TFC enables the sharing of the digital wealth of football with its participants, primarily the football fan.

TheFutbolCoin’s utility is so high and diverse that it is already accepted by more than 20 different types of businesses for goods and services. These include KFC, Farmer Boys, burger & other restaurants, coffee shops, convenience stores, car washes, tattoo parlors, hearing aid centers, nail & hair salons, gymnasiums, motorbike & car sellers, creative agencies, electronic supplies and more.

Prior to the Bittrex Global listing, there are already more than 150,000 unique TFC wallet holders in less than 18 months with hundreds of thousands of transactions. TFC and TFA plan to significantly increase their geographic economies in Europe, USA, Africa and Asia.

“The COVID-19 pandemic has been particularly hard on everyone both psychologically and economically.   This includes football fans, clubs, players and all that are associated with football.  More than 3.5 billion football fans globally have the uplifting, fun opportunity to join TheFutbolApp community and enjoy TFC’s sharing of the digital wealth of football, the biggest and richest sport in the world” said Bittrex Global’s CEO Tom Albright.  “Football clubs also have a significant economic opportunity to benefit from TheFutbolCoin and TheFutbolApp.”

“We are proud of TheFutbolApp and its high utility TFC token.  Our business model is explicitly to share the digital wealth of football via the TFC utility token with all participants in all continents of the world” said Steve Van Zutphen, CEO and founder of TheFutbolApp.  “We believe in community, breaking barriers and bringing millions of people together in an uplifting, inspiring and sustainable fashion.  We hope and expect to make a significant difference for football clubs and millions of football fans worldwide.”

The football industry is a multibillion-dollar industry supported by billions of people around the world; however, the impact COVID-19 has had on traditional sources of revenue has been considerable, particularly for people providing support and auxiliary services to the industry. TheFutbolCoin aims to provide an example of how communities and specific industries can band together and provide a decentralised economic network dedicated to football fans around the world.

About Bittrex Global

Bittrex Global has one of the most secure trading platforms and digital wallet infrastructures in the world, where customers can access exciting new products. Built on Bittrex’s cutting-edge technology, Bittrex Global provides a high-level experience for professional and novice customers alike.

About TheFutbolApp

TheFutbolApp (TFA) is a gamified social network themed around the global sport of football.  Through TheFutbolCoin (TFC) its high utility token, TheFutbolApp enables the sharing of the digital wealth of football with its participants, primarily the football fan.

Digital asset trust company, BitGo has added another feather to its cap. The company announced today that it has received a Trust Charter that will enable it to operate as an independent qualified custodian in the United States’ commercial hub, New York. The license was issued by the New York State Department of Financial Services.

Go, BitGo

California-based digital asset solutions provider, BitGo has expanded its horizon. It will now render cryptocurrency custodial services to New York-based institutional clients. The news was confirmed after the state’s Department of Financial Services issued the New York Trust charter to the company.

BitGo is proud to announce a new license under New York State Banking Law to operate as an independent Qualified Custodian. Read more: https://t.co/IfTGOJ1hc0 pic.twitter.com/VO9wqxgXUl

— BitGo (@BitGo) March 4, 2021

The news reiterates the company’s motive to exhaust the possibilities of the new financial landscape. It announced in December last year that it had over $16 billion in assets in its custody. With the surge in institutional interest, BitGo now has its eyes set on the world’s financial and commercial epicenter. Speaking on the latest milestone, BitGo CEO Mike Belshe said:

“We are extremely proud to receive the approval for a trust charter from NYDFS to serve the world’s premier financial organizations that are based in New York State. The past year has been exceptional for BitGo and the digital asset markets overall, primarily due to the influx of large financial services institutions that bring a new level of credibility, liquidity and stability to the crypto ecosystem.”

The license will enable New York’s premier institutions to key into the digital revolution while staying within the state’s regulatory framework. BitGo’s list of reputable partners adds an extra layer of trust. It claims to be backed by Goldman Sachs, Craft Ventures, Digital Currency Group, Redpoint Ventures, and Valor Equity Partners.

What’s In Store?

BitGo intends to go all-in for its prospective clients. Asides from its fully secured custodial services, it outlined several benefits of the New York Trust.

It will adopt a sophisticated, independently verified system control – SOC 2 Type 2. The SOC 2 Type 2 compliance records how a company safeguards customer’s data. This system control type verifies compliance with standard procedures and often gives a competitive edge.

Prospective clients will benefit from BitGo’s “comprehensive insurance coverage,” which it says covers up to $100 million in digital assets. Its multi-signature technology is yet another selling point.

New York – The New Crypto Hub?

The city of New York is becoming a destination for mainstream cryptocurrency companies. This week, leading blockchain sports and entertainment platform, ChiliZ announced that it would set up an office in New York.

Perhaps this is fueled by the state’s unwavering efforts to maintain a regulated framework that attracts investment and prioritizes asset protection. The New York Financial Services Law, which was enacted five years ago, necessitates the regulation of companies in the digital asset space. The state’s Department of Financial Services approved the sale and trading of eight cryptocurrencies in August last year.

American basketball team Dallas Mavericks will now accept payments for tickets and merchandise in Dogecoin via the leading cryptocurrency payment processor, BitPay.

Prior to the announcement, it already supported payments in cryptocurrencies, including BTC, BCH, ETH, USDC, GUSD, PAX, and BUSD. Its billionaire owner and Shark Tank star, Mark Cuban, cited the ‘very important’ reason behind the newest addition.

All Bark And Some Bite

Meme-inspired Dogecoin is finally getting some utility to go with the massive hype of recent. The digital asset, which features the face of the Shiba Inu dog from the “Doge” meme on its logo, has been added to the list of payment options on Dallas Mavericks’ online shop.

As a result, the team’s fan base, Mavs Fans for Life (MFFLs), can now purchase game tickets and merch using dogecoin.

According to the Dallas Mavericks, the decision is purely consumer-centric and is targeted at leveraging cryptocurrencies to “expand business sales opportunity, reduce high fees and increase payment transparency and efficiency.” Mavs’ billionaire owner and bitcoin skeptic-turned proponent Mark Cuban revealed the ‘earth shattering’ reason for accepting dogecoin payments.

“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth shattering reason, because we can! Because we can, we have chosen to do so. We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR. So we will take Dogecoin, today, tomorrow and possibly forever more. For those of you who would like to learn more about Dogecoin we strongly encourage you to talk to your teenagers who are on TikTok and ask them about it. They will be able to explain it all to you,”

While institutions are just getting caught up in the bitcoin frenzy, Dallas Mavericks is one of the early institutional adopters. The Dallas-based NBA hotshot started accepting bitcoin payments nearly two years ago and has continued to align itself with newer developments in the digital space.

Fun Over Intrinsic Value?

Mark Cuban’s reason for accepting dogecoin payments is based on the digital assets’ central theme – fun. He told Forbes last month:

“Dogecoin is less than a dime. You can buy $1 worth or $10 worth and have fun watching it all day”

He further stated that the digital currency has no intrinsic value, adding that he bought some for his son for educational purposes.

His earlier comments have led to strong suggestions that he is solely interested in reaping off the PR surrounding dogecoin of late.

Bitcoin Over Gold, Cuban Tells Schiff

Mark Cuban was quick to rebuff anti-bitcoin remarks made by the gold proponent and Chairman of SchiffGold, Peter Schiff, this week. The agelong precious metal advocate took a jab at wall street bitcoiners, tweeting that he never knew smart investors could be “dumb enough to buy bitcoin.”

In response, Cuban correctly pointed out that while a technology-backed store of values like crypto are dynamic and can transition into advanced applications, gold is simply static.

Let me help Peter. Gold is hyped as much as Crypto. Do we really need gold jewelry? Gold can make you a ring. BTC/Eth are technologies that can make you a banker, allow friction free exchange of value and are extensible into an unlimited range of biz and personal applications https://t.co/pJPdEAl5gq

— Mark Cuban (@mcuban) March 2, 2021