Coins.ph Expands PHPC Stablecoin to Solana for Global Remittances and DeFi Access
Coins.ph, a leading cryptocurrency exchange, has announced the expansion of its Philippine Peso stablecoin (PHPC) to the Solana blockchain, unlocking a broader set of use cases including cross-border transfers, decentralized finance (DeFi), and on-chain trading. The move is poised to enhance PHPC's liquidity, providing users with faster, lower-cost remittances, a key feature for the Philippines' large remittance market. Moreover, PHPC will now offer foreign exchange trading pairs, such as USDC/PHPC and USDT/PHPC, opening up new trading opportunities. This expansion is a part of Coins.ph’s strategy to diversify PHPC's availability across multiple blockchain networks and exchanges globally, facilitating more accessible digital finance. (Multiverse.PH)
PayPal Expands Crypto Services to U.S. Business Accounts: A New Era for Merchants
In a significant step toward embracing digital assets, PayPal has extended its crypto services to U.S. business accounts (excluding New York). Business owners can now buy, sell, and trade cryptocurrencies, further solidifying PayPal’s role in bridging traditional finance with the crypto space. Merchants will also be able to withdraw their digital assets to external wallets or cold storage, ensuring security for business transactions. Additionally, PayPal has introduced the PYUSD stablecoin, backed by U.S. dollar reserves, now integrated into the Solana network for more efficient, cost-effective transactions. This expansion demonstrates PayPal's increasing influence in the stablecoin market and its commitment to innovating within the growing cryptocurrency landscape. (Cointelegraph)
Hong Kong’s Digital Currency Testing Advances with Phase 2 of e-HKD Pilot
The Hong Kong Monetary Authority (HKMA) has launched Phase 2 of its e-HKD Pilot Program under Project e-HKD+, which will explore the use of digital currencies in tokenized asset settlement, programmable transactions, and offline payments. This next phase includes collaborations with industry giants like Visa, ANZ, and HSBC, all aiming to enhance cross-border payments and interbank transfers. The e-HKD initiative is expected to play a significant role in the future of central bank digital currencies (CBDCs) and will support Hong Kong's ambitions to remain a leading hub for digital finance. (Blockhead)
Robinhood and Revolut Explore Stablecoin Launches: What’s Next for the Crypto Landscape?
As the demand for stablecoins grows, fintech giants Robinhood and Revolut are reportedly exploring the launch of their own stablecoins. Robinhood, which currently offers crypto trading, is eyeing new opportunities in the stablecoin market, although no official launch date has been set. Similarly, Revolut is evaluating options to expand its crypto services, with a focus on stablecoin adoption, spurred by the success of PayPal's PYUSD stablecoin. Experts predict that the MiCA regulations in the European Union could provide the regulatory clarity necessary to boost stablecoin adoption across Europe, paving the way for these fintech firms to take the plunge into the stablecoin arena. (The Block)
Solana Labs and Google Cloud’s Game-Changing Partnership with Gameshift API
At the 2024 Solana Breakpoint Conference, Solana Labs and Google Cloud launched the Gameshift API, an innovative tool designed to bridge the gap between Web2 and Web3 gaming. This new API allows game developers to seamlessly integrate NFTs and digital assets into their traditional Web2 platforms, empowering them to transition to the blockchain with ease. The Gameshift API is now available on the Google Cloud Marketplace, marking a significant collaboration between Solana and Google Cloud, who are already working together to bring blockchain-enabled smartphones and decentralized applications to market. This partnership signals a shift in the gaming industry, with blockchain integration becoming an essential component of modern game development. (Cointelegraph)
PiP World Aims to Revolutionize Financial Education Through Gamified Learning
PiP World, a crypto gaming startup, is reinventing financial education with gamified learning experiences designed to teach users about financial markets, trading, and investing. Dubbed the “Duolingo for finance,” PiP World has acquired Roblox’s StockRise game, which boasts over 7.3 million visits. With new updates slated for StockRise, PiP World is tapping into the growing intersection of gaming and finance to make financial literacy more engaging and accessible. By utilizing platforms like Roblox and Telegram, PiP World is expanding its reach to younger, tech-savvy audiences. (Decrypt)
YGG and Parallel TCG Announce $100K Tournament at YGG Play Summit 2024
Yield Guild Games (YGG), in collaboration with Parallel TCG, will host a $100,000 tournament during the YGG Play Summit 2024 in Manila. Filipino Web3 gamers will compete in a Swiss format during the first day, with the top 8 advancing to the single-elimination format. This tournament highlights the intersection of traditional gaming and decentralized finance (DeFi), offering players a competitive esports experience while engaging with the evolving world of blockchain gaming. The event reflects the growing adoption of Web3 technologies in gaming and the increasing integration of cryptocurrencies and NFTs into the entertainment industry. (BitPinas)
