Bitcoin spot ETF starts in Canada

The well-known asset management fund Fidelity Investments has launched a Bitcoin ETF in Canada. This fund - named Fidelity Advantage Bitcoin ETF - invests directly in Bitcoin or through derivatives. At least 98 percent ETF shares will be held at "Cold wallets".

The fund is listed on the Toronto Stock Exchange with the designation FBTC. The fund will have an investor management fee of 0,4%, with clients being given the option to invest Canadian or US dollars. Canada is a popular destination for cryptocurrency ETFs with over 20 available to Canadian investors. However, Fidelity's offer is unique among cryptocurrencies ETFsbecause it offers physical ownership of bitcoin, not futures trading.

MercadoLibre accepts cryptocurrencies

Latin America's main auction site Free market now allows customers in Brazil to trade and pay for products in cryptocurrencies. The company announced that users in Brazil will be able to buy, hold and sell Bitcoin, Ether, and Stablecoin Pax Dollar, based on the US dollar. The combination of the two major cryptocurrencies and stablecoina on MercadoPago - the MercadoLibre payment platform - will enable customers to carry out transactions for products valued in fiat currency using cryptocurrencies.

MercadoPago is authorized by the Central Bank of Brazil, which has made it easier for the company to start cryptocurrency operations in the country. But MercadoLibre operates in many Central and South American countries, offering a potential customer base of several million for new cryptocurrency payments as the company broadens its offerings.

Square is rebranding in the wake of Dorsey's departure from Twitter

Payment company Square announced it was changing its name to "Block," a few days after its chief executive, Jack Dorsey, stepped down as head of Twitter. The company noted in its statement that the new name could have many associations, but among them was the use of Blockchain technology, which they use in some of their projects.

Square Crypto, a separate company initiative to promote the use of Bitcoin, is also changing its name to Spiral. Square will not disappear though - Square remains the name of a sales company that is part of a corporate portfolio that now also includes Cash App, TIDAL and TBD54566975.

Jack Dorsey announced his sudden exit from Twitter last week, and many speculated that he wants to spend more time on cryptocurrency and blockchain projects, led by Block, which has just undergone a rebranding.

The head of Meta cryptocurrencies leaves the company

Head of the Meta cryptocurrency department (formerly Facebook) leaves the company as the launch of the Diem stablecoin is still in question. David Marcus announced that he would be leaving the company after seven years of working on the Meta financial offering he began in May 2018, when the Libra cryptocurrency project was first announced. This project later turned into a payment wallet called Novi with an associated crypto asset called Diem. A cryptocurrency wallet has since been launched, but Diem's ​​start remains uncertain.

The meta faced significant hurdles in launching its cryptocurrency products. Commenting on Marcus's departure, Meta CEO Mark Zuckerberg commented on his post:

"We wouldn't have gotten this far with Diy without your leadership, and I'm grateful you made the Meta a place where we make such meaningful decisions."