1) Mastercard partnered with Bitkub to launch crypto-backed payment cards
Mastercard has partnered with Bitkub, Thailand’s leading digital asset exchange and other two crypto companies in Hong Kong and Australia to launch crypto-backed payment cards in Asia Pacific.
The Siam Commercial Bank Public Company Limited, Thailand’s leading commercial bank, recently acquired 51% shareholding of Bitkub.
2) Goldman Sachs buy Chinese real estate debt
Despite the ongoing crisis of property developers in China that led to investors shying away, Goldman Sachs Asset Management made the opposite move by buying Chinese real estate debt even. The management stated that the market is overestimating the contagion risk and that creates opportunity.
3) S&P 500 closed at record high on House passing infrastructure bill
The S&P 500 closed at a record high Monday after the House of Representatives passed a $1 trillion infrastructure spending package. The need for significant infrastructure spending has been put on a table for years without much progress in the end.
4) Oil extended gain on positive sign of economic recovery
Oil prices extended gains on Tuesday morning on a positive recovery sign for the global economy, while the U.S. ended its pandemic travelling ban that has been put up for more than a year and a half.
Meanwhile, OPEC+ also ignoring Washington’s pledge on increasing oil production to ease the ongoing energy crisis.
Brent crude rose to $83.49 per barrel and WTI traded at $82.01 a barrel.