Rice-based stable coin is being launched in Indonesia

Rice-based stable coin is being launched in Indonesia

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Editor’s Note: This article was updated to include information on Gluu Mobile’s merger. There’s no doubt that the headline tech stocks have been guiding this market to new highs. The big ones are in all the major indexes for this very reason. Are tech stocks really deserving of a place in the Dow Jones Industrial Average, when most don’t even build the goods they sell in the U.S.? Apparently they do, because there’s a lot of them in the 30 stocks that make up the index.InvestorPlace - Stock Market News, Stock Advice & Trading Tips And they’re the same companies that make up big weightings in the NASDAQ 100 and S&P 500. Of course, as the old saying goes, don’t fight the tape. But also, look for other opportunities. Smaller, lesser-known tech stocks are getting noticed as well. And as they gain shareholders they’ll gain capital to expand. Now is a great opportunity to get in on that growth. 8 Cheap Stocks Under $20 That Could Double The seven cheap tech stocks that I highlight below are exactly those kinds of stocks. And all of them have either “A” or “B” ratings in my Portfolio Grader. Let’s take a look: Blackberry (NYSE:BB) Ideanomics (NASDAQ:IDEX) Zynga (NASDAQ:ZNGA) Cango (NASDAQ:CANG) Glu Mobile (NASDAQ:GLUU) DouYu International (NASDAQ:DOYU) Wipro (NYSE:WIT) Cheap Tech Stocks: Blackberry (BB) Source: Shutterstock Depending on your age, you either remember this device because you saw it as a youngster at the dawn of the mobile age, or you remember using one of the pioneers in smartphones. This Canada-based company stormed into the market as mobile technology was rewriting the world. There were mobile phones that sold more, but few had the network security and reliability that this Canada-based phone maker provided. Its phones were supported by its network, and it was so secure that it was the go-to work phone for Wall Street and the players in Washington, DC. It was a great device, and also as cool as the iPhone, with its physical QWERTY keypad. But then the iPhone came along with a slew of other touchscreen competitors, with apps and new designs, and Blackberry was left in the dust as a symbol of the past. And as attention moved away, BB continued to do what it did best — securing networks. Recently, the stock was one of those stocks lifted from obscurity by Reddit group investors. But it’s a real cutting-edge tech stock with a lot of promise. And it’s even licensed its phone to a new manufacturer. The stock is up 83% year-to-date, which shows the massive interest in this low-priced player recently. But it’s still a solid company that has a big future. Ideanomics (IDEX) Source: Shutterstock Basically, Ideanomics is a venture capital firm that focuses on promising tech companies that need capital to grow their businesses. Its biggest focus at this point is electric vehicles (EV), commercial electric vehicle funding, and batteries and energy storage. It also has a capital division that provides financial services using artificial intelligence (AI) and blockchain technologies. The company has been of keen interest in the past year or so as ESG (environmental, social and governance) investing has ramped up on the institutional side, and electric vehicles have become very hot tech stocks. IDEX is involved in EV work in both the U.S. and Asia, including with vehicles like electric tractors and motor bikes. 7 Must-Own Stocks in February The stock is up 121% year-to-date, and its market capitalization is $1.64 billion. Zynga (ZNGA) Source: Sundry Photography / Shutterstock.com Launched in 2007, this social gaming company has been through both the Great Recession and the pandemic. And both of those events, as well as everything that has happened in between, has helped build this tech stock’s street cred. We know how popular gaming stocks have become while we’re all remaining socially distant, here and around the world. And the same is true of games that are being played on social media platforms as well. ZNGA is the king in that sector. It just released its Q4 numbers and reported record annual and quarterly revenue and bookings. Yet the crazy thing is, it hasn’t gone wild like most tech stocks. It’s up 20% year-to-date and is a great buy in a hot space. Also, there’s always the possibility that a buyer may come in and take it out at a big premium. Cango (CANG) Source: lumen-digital / Shutterstock.com What’s Cango? It’s the leading automotive transaction service in China. What does that mean? It links financial institutions to dealerships and customers to offer financing for vehicles. As you well know, China’s growing middle class is playing catch-up in the car ownership world. And there are many players from outside and inside China looking for a foothold. But just like in the U.S., homegrown companies are usually favored by businesses and consumers alike for significant transactions. In its Q3 report out in late November, revenue was up 24%, which beat the company’s guidance by 32%. What’s more, late payments on outstanding financing was down significantly. 7 Safe Stocks for Reddit’s WSB Bull Gang This tech stock is up 74% year-to-date, but it still only has a current price-to-earnings (P/E) ratio of 7.5. Glu Mobile (GLUU) Source: OpturaDesign / Shutterstock.com Yes, niche gaming company Glu Mobile recently announced it will be acquired by Electronic Arts (NASDAQ:EA). But with the deal not set to close until the second quarter of this year, there is still time to get in on GLUU stock. Glu Mobile has been around since 2001, after the tech bubble burst. And back then, its focus on mobile phones and tablets seemed a bit hopeful. But no more. Most of the other gaming stocks have been late adopters of mobile gaming. GLUU derives much of its revenue with purchases from apps that are promoting products within its games. These are usually apps that are available in most major app stores. Some of the most well-know games produced by Glu Mobile are MLB Tap Sports Baseball and Covet Fashion. Overall, Glu Mobile’s portfolio and potential are likely part of the reason why EA struck the deal. And it’s also why, even if the deal were to somehow collapse, GLUU is still a great company in its own right. DouYu International (DOYU) Source: Shutterstock As one of China’s leading livestream gaming companies, DouYu has garnered a lot of attention as many American investors have looked to these types of tech stocks that are familiar to U.S. audiences. Given the fact that whatever is hot in the U.S. is likely hot in China, and China has orders of magnitude more people, it makes sense that if gaming hot here, it’s even hotter in China and its region. There is talk that DOYU and another big player in the space may merge, but that hasn’t happened yet. And given Chinese authorities’ crackdown on anti-competitive moves by large companies, this could be delayed. But that doesn’t change the fact that DOYU is a top Chinese tech stock that is seeing significant growth. 7 F-Rated Growth Stocks to Sell Sooner Than Later The stock is up 57% year-to-date. Wipro (WIT) Source: Shutterstock It has been an interesting journey for this India-based multination tech firm. In 1945, the company was founded as the Western India Palm Refined Oil Limited. It sold edible refined oils. Over the years it found opportunities as India grew. It also began to partner with major U.S. corporations as the West became interested in India’s growing economy. By the mid-1990s, WIT was transitioning into a tech firm. By 2012 it had sold off most of its non-tech business divisions. And now it’s a multinational IT solutions and services firm with significant operations outside South Asia. The stock has a $32 billion market cap, so it’s a good-sized player but the Indian market isn’t very open and few companies list outside the nation. There are only a couple of Indian tech stocks available in the U.S. But this is a solid company with a very broad base in growing markets. The stock is up 19% year-to-date, and it’s trading near its 52-week highs, yet still has a P/E far below the S&P 500 average. On the date of publication, Louis Navellier has a position in ZNGA in this article. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article. The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden’s Presidency The post 7 Cheap Tech Stocks to Hop On Now appeared first on InvestorPlace.

How Mastercard’s crypto strategy is distinct from its new stablecoin plans

The crypto space lit up late Wednesday when news broke that Mastercard was expanding the scope of its digital currency support.

Mastercard said in a blog post that it was moving to enable its systems to facilitate payments in the form of stablecoins directly to merchants who choose to accept them. Such a service will complement Mastercard’s existing crypto card-focused offerings, through which consumers can spend their cryptocurrencies via an issuer’s card – though in the end, the transaction is settled outside of Mastercard and in the form of fiat currency like the U.S. dollar.

The payments firm’s chief financial officer, Sachin Mehra, discussed the expanded offerings during a virtual event hosted by Goldman Sachs on Wednesday, according to a published transcript obtained by The Block. But more broadly – and, perhaps, more importantly – Mehra provided a clear-cut break down of how Mastercard views what he termed “sub-categories” of digital currencies: cryptocurrencies, fiat-backed stablecoins and central bank digital currencies, or CBDCs.

Mehra called crypto “an asset class,” adding: “It’s not a payment vehicle as far as we’re concerned.” He spoke about Mastercard’s crypto card program and indicated that such efforts would continue and grow over time. “We’re seeing tremendous growth in that space,” said Mehra, saying later:

“So that’s kind of – and we’ve got numerous agreements in that regard, which are already in play. And we’ll continue to do more and more of those because people want to be able to use that asset class to make payments at the point of sale.”

On the subject of stablecoins, Mehra noted that “we have plans to enable those, regulation pending, across our network.”

Mehra continued:

“So in other words, the delivery of those stablecoins and to allow the settlement of those stablecoins with those merchants who wish to be settling in those stablecoins on a forward-going basis. So we are enabling our network to allow for that to happen yet this year.”

Lastly, Mehra discussed Mastercard’s work in the area of CBDCs, which is perhaps a bit more theoretical given that such currencies remain in their nascent stage. Yet payments firms big and small appear to be positioning themselves as possible service providers should they take off – PayPal being one of those, according to statements from the firm’s leadership – and it seems that Mastercard is no exception.

“We can bring the technology,” said Mehra. “We have – we’re the leader – one of the leaders in terms of the patents we have developed in terms of DLT. And how we can help [central banks] at the infrastructure level and/or the application and services level is something we remain engaged with on numerous [fronts] with several central banks.”

Mehra concluded his remarks by calling the broader crypto sphere “a space to keep an eye on.”

“I think it will ebb and flow depending on what the flavor of the day is as it relates to cryptos. We’ve seen run-ups in crypto prices in the past. But broadly speaking, the use of digital ledger technology is something we will remain focused on.”

One potential conclusion from Mehra’s comments is that whereas Mastercard is interested in capturing value around the interest in cryptocurrencies, the payments firm views stablecoins as worth the investments required to integrate them into its systems. And as for CBDCs, those remain on the horizon – albeit one that might one day constitute an entirely new business line.

Forget bitcoin, card firms should embrace stablecoin payments - Gartner

Research house Gartner has poured cold water on Visa’s recent move to support bitcoin trading on its network, arguing that the real revolution in payments would see centralised financial companies support stablecoin transactions on blockchains.

Earlier this week Visa outlined plans for the first pilot of its new suite of crypto APIs, following other industry players such as PayPal and Square in embracing the digital currency movement.

Gartner analyst Avivah Litan says that the move is welcome, and increase the “technical rails between consumers, businesses and blockchains, and help prepare the transition to future payment infrastructure”.

However, in a blog, she also notes that it is “hardly a revolution”. Having centralised financial companies that earn revenues by charging transaction fees at the centre of crypto goes against the peer-to-peer ideals of blockchain payments.

“Potential users are left to wonder if, in the future, they will have to pay these centralised services additional transaction fees for moving cryptocurrency across peer-to-peer blockchain networks, defeating the promise of blockchain,” writes Litan.

Her answer to this problem is for card brands and other established players to provide the on and off ramps for payors and payees using stablecoins, without being involved in the actual payment that would occur on the blockchain.

This would mean Visa and its peers would not get a transaction fee but would make money from issuers and acquirers using services such as risk management, onboarding and protections for balances.

Concludes Litan: “The question remains: will these centralised financial services companies go forward in line with the spirit of blockchain peer to peer payments at the risk of cannibalizing their existing central-clearing house based-revenue streams? The answer will depend on whether or not these firms have any practical choice.”