Coins.ph Expands PHPC Stablecoin to Solana for Global Use
Coins.ph has announced that its Philippine Peso stablecoin, PHPC, will soon be available on the Solana blockchain, expanding its reach to support cross-border transfers, decentralized finance (DeFi), and on-chain trading. This move enhances PHPC’s liquidity and accessibility, allowing users to engage in faster and lower-cost remittance services, especially crucial for the Philippines' large remittance market. In addition to remittances, PHPC will offer new trading opportunities by providing on-chain foreign exchange pairs such as USDC/PHPC and USDT/PHPC. The integration with Solana is part of a broader strategy to make PHPC available across multiple blockchains and exchanges globally. (Multiverse.PH)
PayPal Extends Crypto Services to U.S. Business Accounts
PayPal has announced that business accounts in the U.S. (excluding New York) can now buy, sell, and trade cryptocurrencies directly through their PayPal accounts. This new feature responds to increasing demand from business owners seeking the same crypto capabilities as consumers. Merchants will also have the option to withdraw their digital assets to external wallets or cold storage for added security. PayPal has further expanded its presence in the crypto space by introducing the PYUSD stablecoin, backed by U.S. dollar reserves and recently integrated into the Solana network for cheaper, faster transactions. (Cointelegraph)
Hong Kong Advances Digital Currency Testing with Phase 2 of e-HKD Pilot
The Hong Kong Monetary Authority (HKMA) has launched Phase 2 of its e-HKD Pilot Program, rebranded as Project e-HKD+, focusing on innovative applications of digital money. This phase involves 11 firms testing use cases related to tokenized asset settlement, programmability, and offline payments. Participating companies such as Visa, ANZ, and HSBC will explore the use of e-HKD and tokenized deposits for interbank transfers and cross-border payments. Through an e-HKD sandbox, the HKMA aims to evaluate real-world scenarios for digital money, with the goal of advancing a secure and efficient digital currency ecosystem for both public and corporate use. (Blockhead)
Robinhood and Revolut Explore Entry into the Stablecoin Market
Fintech giants Robinhood and Revolut are reportedly exploring the launch of their own stablecoins. Robinhood, which currently offers crypto trading, including USDC, has no immediate plans for a release, while Revolut is also evaluating options for expanding its crypto services. This follows PayPal’s successful introduction of its PYUSD stablecoin in 2023, now valued at $700 million. Analysts believe the upcoming MiCA regulations in the European Union could boost stablecoin adoption across the region. (The Block)
Solana Labs and Google Cloud Launch Gameshift API to Bridge Web2 and Web3
At the 2024 Solana Breakpoint conference, Solana Labs and Google Cloud unveiled Gameshift, a new API designed to help game developers integrate Web3 components like NFTs and digital assets into traditional Web2 gaming platforms. Available on Google Cloud Marketplace, the API simplifies blockchain integration, allowing developers to seamlessly transition from Web2 to Web3 in a secure and efficient way. This initiative is part of the ongoing partnership between Solana Labs and Google Cloud, which previously saw Google Cloud become a Solana node validator and participate in the launch of blockchain-enabled smartphones. (Cointelegraph)
PiP World Aims to Revolutionize Financial Education with Gamified Learning
Crypto gaming startup PiP World is building a "Duolingo for finance," offering gamified experiences to teach users about financial markets, trading, and investing. The company, led by CEO Saad Naja, has acquired Roblox’s popular stock-trading game StockRise, which boasts over 7.3 million visits and 300,000 monthly users, and launched Gold Rush on Telegram to tap into its growing gaming ecosystem. Naja describes PiP World’s approach as multifaceted, targeting different platforms and audiences with the goal of making financial education more engaging and accessible. Major updates for StockRise are expected by the end of the year. (Decrypt)
YGG and Parallel TCG Announce $100K Tournament at YGG Play Summit 2024
Yield Guild Games (YGG) is partnering with Parallel TCG to host a $100,000 tournament during the YGG Play Summit in Manila from November 19-23, 2024. Filipino web3 gamers will compete in two global qualifiers in October, with 16 players advancing to the main event. The tournament will follow a Swiss format on Day 1, with the top 8 advancing to a single-elimination format on Day 2. This collaboration emphasizes the growing intersection between traditional gaming and decentralized web3 technologies, offering players both a competitive esports experience and engagement with blockchain gaming innovations. (BitPinas)
