Brazilian Payment Processing Giant Announces Bitcoin Support

Cielo, a Brazilian payments giant, is looking to unlock cryptocurrency payments to over 200 million people.

Cielo announced its support for bitcoin and other cryptocurrency purchases via its 1.4 million point-of-sale devices. Customers will now have the ability to make bitcoin purchases through Cielo’s point-of-sale devices by creating an account with its network partners, Uzzo or Criptohub. The PoS devices generate a QR code which the customer can scan using the partner app while later this year, customers could be able to make cryptocurrency purchases with the Cielo Pay app. (Positive)

Philippine Boxing Champion and Celebrity Manny Pacquiao has Launched His Own Cryptocurrency

On Sept. 1, the South China Morning Post reported that the Filipino boxer turned politician and singer launched his own token with the financial support of private investors such as ex-Liverpool and England soccer star Michael Owen and Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family.

The thing is, the Pac token will be listed on Singapore’s Global Crypto Offering Exchange (GCOX), paving the way for his fans to buy merchandise and interact with him via social media.

Jeffrey Lin, GCOX Founder and CEO reportedly said that the token is not intended to just raise money but to build a token ecosystem.

Pacquiao, who currently holds the World Boxing Association welterweight title, first assumed office as a senator in the Philippines in June 2016.  (Neutral)

Electric Coin Company Reports Losses in Q1 2019

Electric Coin Company (ECC), the firm behind cryptocurrency Zcash (ZEC), reported financial losses in Q1 2019.

According to the Q3 2019 report published on Aug. 29, the firm operated at an average monthly deficit of $186,000 during the Q1 2019.

The company reportedly was receiving 6,157 ZEC per month and 2,000 ZEC for employee compensation. Considering the average coin price during that time frame, it is equivalent to about $449,000. The firm’s monthly expenses, on the other hand, were “approximately $635,000 including employee compensation paid in ZEC at the Q1 […] price of roughly $55.” Still, ECC’s overall holdings ended up increasing:

“The company’s first quarter ending amount of USD and Zcash was approximately $5.2M. The company currently holds approximately $6.4M worth of USD and Zcash.” (Neutral)