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Audio Streaming Mogul Spotify Considering Cryptocurrency Payments

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Joining the tech and financial services bigwigs in the payments revolution, Spotify too is going the crypto way. The Swedish audio streaming and music services giant just put up a job offer for an Associate Director, Payments Strategy & Innovation. The desired candidate will play a key role in ‘navigating the company’s payments rudder’ through the cryptocurrency ecosystem.

Spotify Looking To Be A ‘Leading Player In The Cryptocurrency Space’

As per an official job opening that Spotify just posted, the company is looking for an Associate Director for their Payments Strategy & Innovation Team. The said individual would report to the Director of the same team. And will be instrumental in Spotify gaining a considerable foothold wrt integration of cryptocurrency payments. According to the description:

We are now looking for an outstanding Associate Director to join our Payments Strategy & Innovation team. This role will report to the Director, Payments Strategy & Innovation and will play a key part in defining and implementing Spotify’s payments strategy as well as leading Spotify’s activity within the Libra stablecoin project and wider digital asset & cryptocurrency space.

The objective is to address the company’s plan of ‘enabling new monetization opportunities’ for music creators. Also, Spotify wants its platform to become accessible to a larger section of potential users.

Spotify intends to inculcate all the latest fintech trends in their payments strategy, including cryptocurrencies. So that users from all sections of the society can access the music streaming platform.

Crypto Agenda Involves Libra As Well

One of the designated roles of the incoming Associate Payments Strategy Director would be to lead ‘Spotify’s day-to-day engagement with the Libra Association.’ This is due to the ongoing alliance of the company with Facebook’s digital currency project.

Along with this, the company is looking to leverage all the blue-chip aspects of the blockchain and cryptocurrency space. This includes stablecoins and Central Bank Digital Currencies (CBDCs). It is to streamline its transition to the most advanced payment methods available in finance at the moment.

The Associate Payments Strategy Director would be required to fulfill the above roadmap by making use of

Spotify’s global footprint to seek out innovation in the payments domain globally as well as emerging regulatory & market trends that could influence Spotify’s approach to payments.

Through all the above, the company actually intends to elevate its ‘reputation as a market leader in payments’, the website said. And give giant payments players like PayPal a run for their money.

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Source: https://cryptopotato.com/audio-streaming-mogul-spotify-considering-cryptocurrency-payments/

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BGC Partners’ Arm Taps CLS for Enhancing FX Compression Services

The platform is planning to offer new FX solutions as well.

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Capitalab, a unit under the BGC Brokers, has announced on Friday its partnership with CLS Group, a foreign exchange market infrastructure provider, for enhancing its FX multilateral compression services.

The BGC Partners subsidiary will benefit from CLS’s market data on FX forwards and swaps, which will help in enhancing the speed and efficiency of the broker’s FX portfolio.

“We are delighted to consolidate our presence in FX through our services agreement with CLS, which will enable previously unexplored possibilities,” Capitalab co-founder, David Bachelier said. “Combining Capitalab’s multi-product technology with CLS data allows us to offer the market new FX solutions and unique optimization of several risk metrics, including notional, margin, and counterparty risks.”

BGC Brokers is regulated by the UK’s Financial Conduct Authority (FCA), and its division Capitalab is offering portfolio compression services with interest rate swaptions, interest rate swaps, caps and floors, equity options, FX, and FX Options.

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“As highlighted by the Bank for International Settlements’ most recent Quarterly Review, FX market systemic risks are growing, leading to an increasing need for multilateral optimization and risk-reduction technique,” Gavin Jackson, another co-founder of Capitalab, said.

Enhancing the FX Market

CLS Group has a wide presence in the FX market. It offers market intelligence services and also provides processing and settlement to the FX players.

Most recently, fintech firm Finastra tapped CLS’s payment netting services to meet the demand from the buy side clients for a centralized infrastructure, managing post-trade processes.

CLS global product head, Keith Tippell, said: “CLS settlement members continue to focus resources on optimization and risk mitigation. Our unique position at the center of the FX market enables us to collaborate with specialized service providers, like Capitalab, for the benefit of our common client base.”

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Polkadot-based DEX Polkastarter to partner with Moonbeam

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Polkastarter, a Polkadot-based DEX built for cross-chain token pools and auctions, has partnered with Moonbeam, an Ethereum compatible parachain, to enable cross-chain interoperability.

In an announcement, Polkastarter stated that the partnership would allow for easy integration between the Ethereum and Polkadot ecosystems.

Moonbeam is able to transpile Solidity and other Ethereum-native logic & code to be compatible with Substrate and Web3 environments on Polkadot.

This technology will enable Polkastarter to re-deploy current Solidity code to Polkadot with limited changes and developer time/resources for the migration.

Polkastarter is a protocol for cross-chain token sales and swaps, whose main function is to facilitate transfers between the two main smart contracting platforms: Ethereum and Polkadot.

It raised $875,000 in a seed and private sale backed by NGC Ventures, Moonrock Capital, Signum Capital, and Astronaut Capital, earlier this year.

“The technology that Moonbeam provides will save us time and effort, in order to bring better products to our users, faster. This is an important step towards making truly autonomous and decentralized cross-chain swaps and token sales a reality.”, says Daniel Stockhaus, CEO of Polkastarter.

Nate Hamilton, Head of Business Development for Moonbeam at PureStake too commented on the partnership, stating, “Their platform will give projects an easier path to token exchange and raising capital in a decentralized fashion.”

Moonbeam is also a founding member of the newly formed Polkadot DeFi Alliance, which aims to create a more streamlined conversation around Polkadot’s potential for DeFi.

Founding members of this alliance also include oracle protocol, Chainlink, and Layer 2 technology provider, Plasm network.

This alliance is expected to encourage building on the Polkadot chain, advocating for its scalability, optimization, and core governance infrastructure that is seemingly lacking in legacy networks.

Source: https://eng.ambcrypto.com/polkadot-based-dex-polkastarter-to-partner-moonbeam

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