Samsung to test digital currency pilot in South Korea

The price of Bitcoin was down more than 2% on Thursday morning, taking a breather from its recent run.

The price was around $45,300 per coin, while rivals were trading between three,100 and 27 cents to coins, according to Coindesk.

Samsung Electronics is reportedly going to be a part of the digital currency pilot program in South Korea, according to the Korea Times and reported by Coindesk.

The electronics giant will test the functionality of BOK's program with its Galaxy phone.

Samsung is looking to see if it can conduct payment via mobile phones and digital currencies without the availability of the internet, according to an unnamed source cited in the report.

BOK's pilot program will be tested in two phases with the first phase running from this month until December and will determine the specific technology required. The second phase, which will run January 2022-January 1, will focus on real-life transactions and settlements.

In another news, the cryptocurrency derivative platform Delta exchange introduces a feature that it says will help generate passive income for its users through the use of automated call options.

According to a news release said by CoinDesk on Thursday, Delta's Enhanced Yield Product claims to simplify the process of option trading in bitcoin and ether.

Options allow traders to buy or sell the security at a specified strike price before or on a given date.

The strike price in the derivatives market terms is a set price at which the owner of the option can buy or sell the underlying asset, in this case Bitcoin or ether.

The Singapore-based firm said that in the same way exchange traded funds simplify crypto exposure, people won't need to learn or experiment with complex options strategies as they can select from a menu as they see fit.