Microsoft is the latest company to embrace cryptocurrencies, having added bitcoin as a payment method in its online store.
Users of bitcoin will be able to add funds in the digital currency to their Microsoft accounts, where it will be converted into a more conventional currency before they can use it to buy music, games, videos and applications for Xbos consoles and computers.
Up to the equivalent of $1000 can be added in bitcoin to users’ accounts each day, and there will also be a cap on how much can be exchanged through multiple accounts registered to the same person.
“The use of digital currencies such as bitcoin, while not yet mainstream, is growing beyond the early enthusiasts,” commented Eric Lockard, corporate vice president of the Microsoft Universal Store, in a blog post.
“We expect this growth to continue and allowing people to use bitcoin to purchase our products and services now allows us to be at the front edge of that trend.”
A paper from the independent researcher analyses whether Bitcoin will crowd out fiat currencies in the global community.
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Nordic banking group Nordea has announced most of the teams that will be joining its second fintech accelerator this autumn.
The latest report by the International Trade Administration at the US Department of Commerce also forecasts Japan will lead the export market for the overall fintech sector.