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  PayPal Wants 20 Million Merchants Using PYUSD Stablecoin by End of 2025

  PayPal's U.S. dollar-pegged PYUSD stablecoin is moving beyond experimental status, the company said Tuesday. The update was shared during the company's investor day in New York, with execs from the payments tech firm touting ambitious plans for its future. "The thesis was: Can we facilitate that on PYUSD rails so as not to have the currency conversion, the friction, as well as time?" Michelle Gill, general manager of PayPal's small and medium enterprises line of business, said in an interview wi...

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  Stablecoin Legislation Could Unleash 1,000 Tether and USDC Rivals, Expert Says

  As lawmakers hash out a federal framework for stablecoins in the U.S., corners of the crypto industry may soon face competition from the likes of Uber and Meta. Senate Banking Committee Chairman Tim Scott (R-SC) vowed this month that a stablecoin bill, dubbed the GENIUS Act, will be passed by both chambers of Congress and signed into law within the first 100 days of President Donald Trump’s administration. As the bill gains momentum, some experts say the industry may be at a crossroads. While th...

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  Tether Chooses Ethereum L2 Arbitrum for Cross-Chain USDT Infrastructure

  Tether has picked Layer 2 Ethereum protocol Arbitrum to provide the infrastructure for its new cross-chain initiative, Legacy Mesh. The news follows Tether’s launch of a new token, dubbed USDT0, in mid-January to facilitate smoother cross-chain transfers of USDT outside of blockchains that already support it. The aim was to do it without needing to use techniques like wrapping tokens or blockchain bridges. USDT0 is pegged one-to-one with Tether’s flagship stablecoin, USDT. It's currently the wor...

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  What is Phantom? A Guide to Solana’s Most Popular Crypto Wallet

  As cryptocurrency adoption grows, so does the need for secure, user-friendly wallets. While MetaMask dominates Ethereum, Phantom is a self-custody cryptocurrency wallet that offers a multi-chain solution, supporting Solana, Ethereum, Base, Polygon, and Bitcoin. With built-in send, receive, buy, and swap features, it eliminates the need for a centralized exchange, making asset management seamless. What is Phantom? Launched in 2021, Phantom is a non-custodial cryptocurrency wallet originally desig...

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  PayPal's Venmo Can Now Be Used to Buy Bitcoin and Ethereum via MoonPay

  PayPal is diving deeper into the crypto world. In a Thursday announcement, the payments giant said that U.S. customers could now buy digital coins and tokens like Bitcoin and Ethereum on MoonPay using their Venmo accounts. Venmo is a popular mobile payments app owned by PayPal. MoonPay is a platform allowing people to buy, sell, or swap digital coins and tokens. Venmo customers can use their account balance, a direct bank withdrawal, or debit card to fund crypto purchases on MoonPay, however Moo...

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  Stripe $1.1 Billion Bridge Deal Validates Stablecoin Growth, Says Bernstein

  The recently confirmed acquisition of stablecoin payment platform Bridge for $1.1 billion by U.S. payment processor Stripe validates the growing importance and legitimacy of stablecoins as a use case for public blockchains—particularly for global cross-border transactions, according to Bernstein. “Stablecoins have become systemically important, now the 18th largest holder of U.S. Treasury assets, alongside major sovereign holders,” Bernstein said in a note sent to Decrypt. The integration of sta...

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  Stripe Follows Through on Crypto Payment Support in USDC Following Six-Year Hiatus

  On Wednesday, global payments giant Stripe fulfilled its April commitment to reinstate crypto support, marking six years since it first discontinued Bitcoin payments on its platform. The San Francisco-based firm has introduced a new payment option that allows businesses to accept USD Coin (USDC) from customers in more than 150 countries, Jeff Weinstein, Stripe’s product lead, announced on Twitter (X). “Crypto on Stripe is officially back!” he tweeted. “We're rolling this out to hundreds of thous...

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  Stablecoin Issuers Now 18th Largest Holder of US Treasuries, Says Bernstein

  Stablecoin issuers as a category have grown to become the 18th largest holder of U.S. Treasuries, a milestone that places them alongside major sovereign holders. According to a new report by Bernstein, the total circulation of stablecoins has reached an all-time high of $170 billion, following a dip in 2023. The report describes the dollar-pegged coins as "systemically important" and notes their role in providing USD savings access to international users, helping to spread digital dollars beyond...

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  Could Robinhood and Revolut Find Stablecoin Success Where PayPal Stumbled?

  Fintech heavyweights Robinhood, a U.S. investing app, and Revolut, a crypto-friendly neobank based in London, are considering launching their own stablecoins, unnamed sources told Bloomberg this week. The giants are eyeing the stablecoin market at a time when Tether (USDT), with its $119 billion market capitalization, accounts for roughly 68% of the $173.5 billion category. With Europe offering clearer regulatory frameworks, the fintech giants could bring a new wave of competition. However, the...

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  PayPal and Venmo Users Can Now Send Crypto Payment With ENS Names

  U.S. payment processors PayPal and Venmo have added support for Ethereum Name Service, meaning that people can send crypto payments to ENS usernames, according to a press release from ENS Labs. The new integration simplifies wallet address management and reduces the risk of errors, the companies said in a statement. The feature, available initially for U.S. users, will simplify how users interact with crypto on these platforms. Previously, users had to input long wallet addresses manually or sca...

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