PayPal Unveils PYUSD on Solana for Super-Fast Transactions
PayPal has taken a significant step in the crypto space by launching its stablecoin, PayPal USD (PYUSD), on the Solana blockchain. Known for its fast and low-cost transactions, Solana allows PYUSD to provide a swift and economical payment solution. This move enhances PayPal’s presence in both the fintech and crypto sectors, positioning PYUSD for daily use in a rapidly evolving digital economy.
Gemini Returns $2.18B to Earn Users
Gemini has successfully returned $2.18 billion worth of digital assets to its Earn users, covering about 97% of the assets owed. This remarkable recovery follows a settlement with Genesis and other creditors after Genesis suspended withdrawals. Gemini's achievement marks a 232% recovery rate, ensuring that users will eventually recover all their assets along with any appreciation.
Mastercard Expands Crypto Services with P2P Network Launch
Mastercard is rolling out a peer-to-peer platform for crypto users in Europe and Latin America. The Mastercard Crypto Credential network supports transactions on exchanges like Bit2Me, Lirium, and Mercado Bitcoin, facilitating cross-border payments. This initiative is part of Mastercard's strategy to integrate digital assets into its growing payment services, highlighting the company's commitment to leveraging crypto for international transactions.
Gnosis Pay Partners with Visa for Web3 Payments
Gnosis Pay has partnered with Visa to integrate Safe self-custody smart accounts with Visa debit cards. This partnership will enable users to spend their on-chain assets at any merchant that accepts Visa, initially focusing on the European market. This development aims to bridge the gap between traditional payment systems and the emerging Web3 ecosystem, providing a seamless spending experience for crypto users.
Vanguard Files for Specialized Funds Trust
Vanguard has filed a registration statement for its Specialized Funds Trust, categorizing various types of crypto assets. The filing defines digital assets as blockchain-based assets not issued by a central authority, digital security tokens as representations of ownership over separate assets, and digital utility tokens as those providing access to specific products or networks. This move reflects Vanguard's effort to classify and manage crypto assets within a regulated framework.
That’s all for this edition of our crypto newsletter. Stay tuned for more exciting news and updates from the world of blockchain and crypto!
Disclaimer: Crypto-asset or VDA investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.
