Fitch Ratings Observes Greater Corporate Acceptance of Bitcoin

Fitch Ratings Observes Greater Corporate Acceptance of Bitcoin

Ratings agency Fitch released a statement on Tuesday with regard to bitcoin acceptance in the corporate playground. The agency says they have observed "great corporate acceptance" of the digital currency in its form as a payment mechanism (to which many enthusiasts would say, "duh!". The observation comes in the wake of DISH Network, Newegg, Expedia, and 1-800-FLOWERS.com announcing their adoption of the digital currency. In addition, Fitch points to the publishing of the 'Coin Pocket' app to the iOS App Store following Apple's change of heart when it comes to approving....


Related News

Fitch Ratings Analyzes Bitcoin in New Commentary

Credit rating agency Fitch has chimed in on bitcoin, calling it small in comparison to traditional payment processors like VISA and MasterCard, along with global currencies. This news, which many in the community would call "blatantly obvious" originated from the Fitch Ratings Why Forum commentary that was published on Wednesday. With reference to transactions: Total Bitcoin transactions averaged $68 million per day in February 2014, a more than 10 fold increase compared to February 2013. By comparison, payment processors Western Union and PayPal averaged $225 million and $492 million....

Fitch: Regulation Could Rob Bitcoin of its Low-Cost Appeal

Global credit rating agency Fitch Ratings believes bitcoin is still too small to affect traditional payment systems and national currencies. The agency's Why Forum published its findings in a report on bitcoin, dubbed 'Sizing up Bitcoin'. The report points out that bitcoin transactions in February 2014 averaged a meagre $68m per day. Despite a tenfold increase year-on-year, bitcoin's average daily transaction volume pales in comparison to Western Union and PayPal. The two payment processors averaged $225m and $492m per day in 2013. Fitch examined bitcoin's potential role in the financial....

MMA Welterweight Jon Fitch: Why I Get Paid In Bitcoin

Mixed martial arts welterweight Jon Fitch is the first MMA fighter to be fully paid in bitcoin, according to Inverse.com, a culture and technology news site. As an international MMA competitor, he claims he gets paid easier and faster with bitcoin. Fitch loves cryptocurrency and he thinks it is bringing about a new form of commerce he calls "techno-feudalism." A former top welterweight contender for Ultimate Fighting Championship, Fitch said a lot of MMA fighters have difficulty with payment because mixed martial arts is an international sport. It can take weeks to get paid. This is....

S&P: Too Early for Blockchain to Impact Credit Ratings

One of the top corporate credit ratings providers believes it's too early for the use of blockchain tech to be a factor in its analysis. In a report published this week, Standard & Poor's (S&P) reportedly weighed in on the emerging technology, asserting that while it believes the "market-wide adoption" of blockchain technology remains far off, it continues to monitor its evolution due to its anticipated impact. Notably, S&P said it does not see the use of blockchain technology to be a ratings driver "in the near term or even perhaps in the long term". S&P continued:....

S&P: Widespread Blockchain Implementation Could Affect Ratings

Standard & Poor’s (S&P) Global recently published a report detailing its view of blockchain technology. The credit rating agency also revealed how blockchain development could change its credit ratings of financial institutions. Blockchain Could Affect Credit Ratings. Known for its stock market indices such as the S&P 500, the company is one of the Big Three credit rating agencies. The other two are Moody’s Investors Service and Fitch Rating. In a new report entitled “The Future Of Banking: Blockchain Can Reshape The Financial System?” S&P....