The cryptocurrency market never closes, and the industry itself is growing faster than ever. This means there’s more breaking news, and more vital information emerging than ever before. This Week in Crypto is Covesting’s weekly news recap aimed at providing the most complete coverage across the cryptosphere.

CFTC Chairman Giancarlo, aka CryptoDad, Says Crypto is “Here to Stay”

While speaking to CNBC, chairman of the Commodity Futures Trading Commission (CFTC) Christopher Giancarlo said that he believes cryptocurrencies such as Bitcoin and Litecoin are “here to stay.”

Giancarlo, affectionately dubbed CryptoDad by the cryptocurrency community, isn’t sure cryptocurrencies will rival the US dollar as is intended, but he does believe there is a future for them, adding “there’s a whole section of the world that really is hungry for functioning currencies that they can’t find in their local currencies. There’s 140 countries in the world, every one of them has a currency. Probably two-thirds are not worth the polymer or the paper they’re written on, and those parts of the world rely on hard currencies. Bitcoin [or another] cryptocurrency may solve some of the problems.”

Buy Hublot’s Big Bang Blockchain Luxury Watch with Bitcoin Only

Swiss luxury watch maker Hublot has revealed a special edition watch to celebrate the 10th anniversary of Bitcoin, the number one cryptocurrency by market cap.

The new limited edition Watch, called the Big Bang Blockchain, can only be purchased with Bitcoin, and features 210 pieces as a nod to the 21 million Bitcoins in existence.

Gemini Announces Cryptocurrency Insurance

Furthering their mission to “build the future of money,” Winklevoss-owned Gemini announced new Digital Assets Insurance for their customers. Head of Risk for Gemini, Yusuf Hussain, said that the new coverage “complements” the existing FDIC deposit insurance that covers fiat funds held on Gemini.

Gemini explains that insurers are uneasy with cryptocurrencies due to the need for high security standards, however, Gemini says they were able to prove that their platform was safe and secure, and were able to strike a deal to provide their customers with a unique insurance and give them an edge in the market.

Ripple Officially Releases xRapid Commercially

Ripple has finally released their xRapid cross-border payment solution commercially. xRapid uses XRP for low-cost, nearly instant cross-border transactions.

Ripple also revealed that they are already moving into “production” with a number of partners, including MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union.

Circle Announces New Crypto Collections, Index-Like Funds

The Goldman Sachs-backed Circle has long offered a unique “Buy the Market” feature that allowed retail investors to buy into a variety of cryptocurrencies with one simple purchase.

Expanding on that idea, Circle has released three additional “Collections” in the same vein as the Buy the Market feature, via their Circle Invest app. The new Collections include “Platforms, Payments, and Privacy,” with each containing a different set of cryptocurrencies based on each crypto’s real world use-case.