Japans major banks back new stablecoin project for global trade

Project Pax, backed by Japans top banks, seeks to streamline cross-border transactions using stablecoins, addressing inefficiencies identified by the G20.

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Bitcoin trades under $57K, but data suggests pro traders are not bearish 

Bitcoin price fell closer to $56,000, leading traders to question whether the bull market is coming to an end. US job market data could hold the answer.

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New Mastercard crypto card lets users pay from self-custodial wallets

Mastercard has teamed up with crypto payment provider Mercuryo to launch a new debit card called “Spend” that allows users to make payments directly from their self-custodial wallets using digital assets, including Bitcoin. According to a Sept. 5 statement, Mercuryo explained that “Spend” is a multi-chain crypto card that connects directly to users’ wallets. This means […]

The post New Mastercard crypto card lets users pay from self-custodial wallets appeared first on CryptoSlate.

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Getting paid in crypto: Dubai court ruling shows increasing acceptance

Crypto salaries are becoming more common, especially in countries with prevalent economic incentives like inflation. 

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Crypto-native travel platform Travala integrates with Skyscanner for 2.2M hotels

Travala is the first crypto-native travel platform to receive a Skyscanner integration, which allows it to access the platforms 110 million monthly users.

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Mastercard enables non-custodial crypto spending in new partnership

Mastercard partners with Mercuryo to launch a euro-denominated crypto debit card, enabling users to spend crypto from self-custodial wallets at over 100 million merchants.

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Ohio to consider accepting crypto for tax payments and fees

They tried once in 2018, but the State Board of Deposits "failed" to show any enthusiasm.

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Crypto Biz: Bitfarms gets new board after months of power struggles

Bitfarms and Riot Platforms settle months of corporate disputes with board review, while BlackRock moves for changes to Bitcoin ETF withdrawals. 

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PayPal Opens Crypto Buying/Selling to Business and Merchant Accounts....

PayPal is taking another step forward in the cryptocurrency space, announcing on Wednesday that U.S. merchants can now buy, hold, and sell crypto directly through their business accounts.

This move reflects the growing mainstream acceptance of digital currencies, especially following the approval of Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) earlier this year. What was once considered a fringe asset class is now becoming more integrated into traditional finance.

"Business owners have increasingly expressed interest in having the same cryptocurrency options that consumers already enjoy," said Jose Fernandez da Ponte, PayPals Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies.

PayPal first entered the crypto scene in 2020, allowing customers to trade and hold Bitcoin and other cryptocurrencies within its platform. Since then, theyve been leading the charge for fintech companies embracing digital currencies. Most notably, in August 2023, PayPal launched its own dollar-backed stablecoin, marking a major milestone as the first major fintech to introduce a stablecoin for payments and transfers.

Stablecoins, unlike more volatile cryptocurrencies, are tied to stable assets, providing a level of price protection for users wary of the dramatic swings often seen in the market.

In addition to this, PayPal is also allowing U.S. merchants to transfer cryptocurrencies externally to third-party wallets, further expanding their crypto functionality. However, theres one notable exceptionthese new crypto services wont be available to businesses in New York at launch.

PayPal's move into the crypto sector has been paying off, and is credited as a primary reason for the the company's stock boost this year, where it's climbed nearly 26% so far.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

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Bolivia reports 100% rise in virtual asset trading since lifting Bitcoin ban

The rise came immediately after Bolivias central bank lifted a 42-month ban on cryptocurrency payments, allowing financial entities to conduct transactions with digital assets.

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Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy

Render has shown a sharp jump of more than 23% during the last week as on-chain data shows the large hands have continued to buy. Render Has Enjoyed Bullish Momentum Over The Past Week The cryptocurrency sector as a whole has witnessed an uplift recently, but Render has been among the altcoins that have really stood out from the rest. Whereas Bitcoin (BTC) and Ethereum (ETH) have only seen weekly profits of around 3% and 9%, respectively, RENDER has shown an impressive 23% jump. Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear? The below chart shows how the recent performance of the asset has been like. Following this sharp growth, Render’s price has now neared the $6.5 mark for the first time in four weeks. In terms of the market cap, the asset has seen its valuation touch $3.3 billion, placing it at the 29th place on the top cryptocurrencies list. The coin is now chasing Pepe (PEPE), which is the 28th largest asset in the sector with a market cap of around $3.9 billion. Though, considering the 18% difference in their valuations, it wouldn’t be an easy task for RENDER, especially since PEPE generally shows a notable rise of its own when the market goes up. As for what could be behind the latest growth that the cryptocurrency has enjoyed, perhaps on-chain data can provide some hints. Sharks & Whales Have Been Busy Buying The Token Recently According to data from the on-chain analytics firm Santiment, the Render sharks and whales have participated in some considerable accumulation during the last eleven weeks. The indicator of relevance here is the “Supply Distribution,” which tells us about the amount of supply that a given wallet group on the network is holding right now. In the context of the current topic, the cohort containing addresses who own at least 100,000 tokens is of interest. At the current price of the coin, this cutoff is equivalent to just under $650,000, which is a significant amount. As such, this group corresponds to the large hands of the market, popularly known as the sharks and whales. Below is the chart shared by the analytics firm, which shows how the Supply Distribution for these investors carrying 100,000+ coins has changed over the last few months: From the graph, it’s apparent that the supply held by the Render sharks and whales has witnessed a considerable increase over the last eleven or so weeks. More specifically, these investors have added 20.54 million tokens to their wallets, equivalent to 3.7% of the total supply. Related Reading: Bitcoin Correlation With Gold Now At Highest Level Since March The buying spree from this cohort has continued during the latest price surge and thus, could be at least a factor behind why it has taken place. Featured image from Dall-E, Santiment.net, CoinMarketCap.com, chart from TradingView.com

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PayPal Now Lets Millions Of US Business Accounts Directly Buy, Hold, And Sell Bitcoin And Ethereum

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Watchdog: VisaMastercard duopoly spends millions blocking competition

According to a report, the two companies spent a combined $80 million lobbying against credit card competition acts. 

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PayPal Expands Crypto Features for U.S. Businesses, Introduces On-Chain Transfers

PayPal is expanding its cryptocurrency capabilities for U.S. business customers, allowing them to buy, hold, and sell cryptocurrencies directly from their accounts. It marks a significant step for PayPal, which has already seen increasing interest from consumers using crypto. According to the release, this reflects the rising demand from merchants who want to merge digital […]

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Bitcoin Swap Service Boltz Launches BTCPay Server Plugin For Lightning Payments

The Boltz BTCPay Plugin enables merchants using BTCPay Server to accept Lightning payments non-custodially and transfer these funds to the Liquid sidechain.

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PayPal Increases Supply of Their Stablecoin PYUSD by a MASSIVE 90%...

PayPal's foray into the stablecoin market with PayPalUSD (PYUSD) has been nothing short of remarkable.

The total market capitalization of PYUSD has skyrocketed to $8 million, marking a staggering 90% growth from its initial value slightly above $2 million at the start of the month.

This meteoric rise can be attributed to its adoption by several leading centralized exchanges.

Notably, Kraken was a significant player, contributing to 90% of PYUSD's trading volume last month.

The surge in supply aligns with the trading volumes, which have amplified fourfold, touching $9.29 million. Since its inclusion on September 7, Huobi has become a dominant force, accounting for 57% of the coin's trading volume.

Currently, PYUSD predominantly trades against other stablecoins such as USDT, USD, and EUR. However, Crypto.com stands out as the sole exchange offering trading pairs with major cryptocurrencies like bitcoin (BTC) and ether (ETH) against PYUSD, though these pairs have yet to gain substantial volume.

The potential for PYUSD's growth is palpable, especially as more exchanges are poised to introduce diverse trading pairs. Launched on August 7, PYUSD is underpinned by dollar deposits and short-term US Treasuries, operating as an ERC-20 token on the Ethereum network.

Could PYUSD be gearing up to challenge USDT and USDC?

While PayPal has some distance to cover, the current trajectory suggests a promising future. If they maintain this pace, PYUSD could indeed emerge as a formidable contender in the stablecoin arena.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

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PayPal enables business accounts to buy, sell, and trade crypto

In 2020, PayPal began allowing individual retail customers to buy, sell, and hold crypto directly from their PayPal and Venmo accounts.

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PayPal Enables Business Accounts to Buy, Hold, and Sell Bitcoin And Crypto

PayPal has announced a new feature allowing U.S. business accounts to buy, hold, sell, and transfer supported cryptocurrency such as Bitcoin, expanding its crypto offerings for merchants.

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DOJ sues Visa over alleged payments monopoly

The suit alleges that Visa purposely made it difficult for competitors to participate in the payments market. 

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Celsius token surges 300% a month after $2.5B payment to creditors

The Celsius token skyrocketed 300% a month after the firm paid $2.5 billion to creditors, marking a strong rebound in the aftermath of its bankruptcy settlement. 

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