Industry leaders Ivan Soto-Wright, CEO of MoonPay, and Nancy Beaton of Uphold highlight stablecoins as a transformative 'killer use case' for the crypto industry.
Industry leaders Ivan Soto-Wright, CEO of MoonPay, and Nancy Beaton of Uphold highlight stablecoins as a transformative ‘killer use case’ for the crypto industry. Their remarks come in the wake of Ripple and MoonPay’s announcement of a partnership where the two highlighted the potential of stablecoins to modernize payment systems and unlock greater financial access. RLUSD Spotlight: @MoonPay CEO @isotowright shares why stablecoins are crypto’s “killer use case” and how $RLUSD unlocks new opportunities for users worldwide. https://t.co/HAtknbWYvX pic.twitter.com/Gx2Nws1pOR — Ripple (@Ripple) December 20, 2024 Soto-Wright deems Ripple ( XRP ) USD and its value proposition as the block from which inclusive and competitive financial ecosystems can spawn. With the token, these global users will be able to deposit USD directly into their accounts and transact seamlessly from supported wallets and marketplaces. “The job isn’t done until the user experience for crypto is better than your bank,” he stated, calling stablecoin the best use case crypto can offer. Ripple announced its USD-pegged digital asset on the XRP Ledger, RLUSD stablecoin, on Dec.17, which now will be available via MoonPay . This crypto exchange specializes in fiat-to-crypto on and off-ramp. The partnership seeks to strengthen stablecoin usage while providing users the convenience of depositing traditional USD and using RLUSD directly in supported wallets and marketplaces. You might also like: Ripple rolls out RLUSD stablecoin on Uphold, Bitstamp, and Bullish Nancy Beaton of Uphold , a digital wallet and exchange platform, touted the accessibility and regulatory disclosure of stablecoins like RLUSD. “Stablecoins are the killer use case for crypto at the moment,” she said, pointing to the cost-effectiveness, speed, and settlement facilities that stablecoins bring to the table twenty-four hours a day, seven days a week. RLUSD will also be available on the Uphold platform, stated Beaton. RLUSD Spotlight: @UpholdInc ’s Nancy Beaton ( @beatonboulder ) explains how $RLUSD sets a new standard for stablecoins and brings efficiency, speed and transparency to global payments. https://t.co/pE4OIjrdoC pic.twitter.com/Fs7fupnbMN — Ripple (@Ripple) December 20, 2024 Ripple’s RLUSD stablecoin, now integrated with MoonPay and Uphold, exemplifies how stablecoins are becoming indispensable in modern financial ecosystems. You might also like: SOL’s $400 rally and XRP’s $10 goal highlight bullish momentum as XYZ soars Stablecoins are the next big thing: Stablecoins are a “killer use case” for cryptocurrency because they solve one of the biggest problems in the financial ecosystem — volatility. Their value, often pegged to stable assets such as the U.S. dollar or Treasuries, makes them especially useful for practical activities such as daily payments, savings, and even lending . Once limited to serving as a digital cash equivalent for crypto traders, stablecoins have evolved into a flexible financial instrument used for everything from cross-border payments, an efficient alternative to traditional remittance services, to low-cost, instantaneous transactions. As reported earlier by crypto.news, Stablecoins have demonstrated their scalability with record-high activity, such as the $5.5 trillion in value settled in just Q1 2024. Bringing blockchain technology’s transparency and efficiency to the stability of traditional currencies could reinforce the U.S. dollar’s dominance and reshape the global financial system. Read more: Ripple’s $150 million spending for the last ‘no’
The post Metaplanet Bitcoin Strategy: $33M Bonds Issued to Expand BTC Holdings appeared first on Coinpedia Fintech News Metaplanet, a Japanese Tokyo-listed company, is taking a major step to increase its Bitcoin reserves by issuing 5 billion yen (about $33.3 million) in ordinary bonds. These bonds paid on December 20th will mature on June 16, 2025, giving the company ample time to carry out its Bitcoin purchasing plan. The company plans to repay the bonds using money raised from selling stock rights, ensuring it stays financially secure while growing its Bitcoin holdings. Now the question arises is it a strategy or a gamble following the bigger companies adding Bitcoin to sustain financial strain? As of now, companies across the world using this strategy have gained like MicroStrategy. This bitcoin buying plan has doubled companies’ stock prices in just 5 years. *Metaplanet to issue 5.0 billion yen in Ordinary Bonds to Accelerate Bitcoin Purchases; Repayment to be made from Warrant Exercise Proceeds* pic.twitter.com/9Sr6a5kDkD — Metaplanet Inc. (@Metaplanet_JP) December 20, 2024 Zero-Interest Bonds With a Vision Metaplanet’s Bitcoin buying spree began in April 2024 and has already added 1,150 BTC, worth $122.67 million, to its holdings. The company sees Bitcoin as valuable because it has a limited supply and isn’t controlled by governments. This new bond plan is part of Metaplanet’s goal to become Asia’s largest Bitcoin holder, following a strategy similar to MicroStrategy’s, using Bitcoin as a key asset to handle future financial challenges. Market Cheers the Move The announcement has gone well with crypto investors, triggering Metaplanet’s stock up by 51% in just five days with a whopping market cap of more than ¥1 billion, with shares hitting ¥4,270. CEO Simon Gerovich thanked investors for their support and said the company is confident about its plans. Moreover, Zero-interest bonds reduce short-term financial strain while boosting long-term Bitcoin investments. To make it attractive for investors they are also coming up with Bitcoin Rewards Program. Shareholders who own at least 100 shares by December 31, 2024, will be entered into a lottery to win Bitcoin from a ¥30 million ($199,500) prize pool. A total of 2,350 winners will be chosen, with prizes varying in size. Conclusion The future is bright if the company manages to stick to its plan as it will require long-term planning and short-term plans can only give a calculated profit. Countries are following Bitcoin since the US is going all out to support the crypto to become a top leader in terms of holding maximum Bitcoin. However, the supply is limited and such accumulations can be risky if not planned properly.
Vivek Ramaswamy, co-head of the U.S. government’s DOGE efficiency department, appears to have had his Twitter account hacked.…
A group of hedge funds that focus on cryptocurrency has seen massive profits in recent weeks. Bitcoin shot up strongly after Donald Trump’s election victory, leading to a price above $100,000. According to the report by Financial Times, the data from Hedge Fund Research shows that hedge funds that used crypto strategies shared a gain of 46% in November, bringing total yearly gains for the niche to 76%. Compared to the rest of the hedge fund industry, these returns were very strong in what would otherwise be a 10% average win. Crypto financial services firm Galaxy Digital was among the big winners The rally accelerated since Trump’s election win in November and boosted the value of the largest digital asset, Bitcoin. Brevan Howard and Galaxy Digital were among the big winners. The surge also pushed up the value of smaller digital tokens. This year, bitcoin has surged 130% to around $100,000, driving the total market value for major cryptocurrencies to rise by $1.8 trillion to $3.5 trillion. But this week, the market declined slightly as the Federal Reserve signaled it would boost interest rates less than anticipated next year, which pummels high-risk assets. In contrast to the Biden administration, which has been more cautious about digital currencies, investors hope the Trump administration’s appointments of high-level government roles will be more crypto-friendly. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
The recent surge in whale activity and heightened address engagement signal pivotal changes in the trajectory of Arbitrum (ARB). Market participants are closely observing critical resistance levels that ARB must
The SEC has given the green light for the first-ever dual Bitcoin-Ethereum ETFs, marking a significant milestone in the cryptocurrency investment landscape. This approval allows Nasdaq and Cboe BZX to
Dogecoin started a major decline below the $0.3550 support against the US Dollar. DOGE is now consolidating and might struggle to recover above the $0.350 resistance. DOGE price started a fresh decline below the $0.3650 level. The price is trading below the $0.3550 level and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.3550 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could struggle to start a fresh increase above the $0.3550 and $0.3650 resistance levels. Dogecoin Price Dips Sharply Dogecoin price started a fresh decline from well above $0.400 like Bitcoin and Ethereum . DOGE traded below the $0.380 and $0.3650 support levels. It even spiked below $0.320. A low was formed at $0.30 and the price is now consolidating losses. It recovered some points and climbed above $0.320. It tested the 23.6% Fib retracement level of the downward move from the $0.4096 swing high to the $0.300 low. Dogecoin price is now trading below the $0.3550 level and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $0.3550 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.3250 level. The first major resistance for the bulls could be near the $0.340 level. The next major resistance is near the $0.3550 level or the 50% Fib retracement level of the downward move from the $0.4096 swing high to the $0.300 low. A close above the $0.3550 resistance might send the price toward the $0.3650 resistance. Any more gains might send the price toward the $0.380 level. The next major stop for the bulls might be $0.40. More Losses In DOGE? If DOGE’s price fails to climb above the $0.3550 level, it could start another decline. Initial support on the downside is near the $0.3050 level. The next major support is near the $0.3050 level. The main support sits at $0.30. If there is a downside break below the $0.30 support, the price could decline further. In the stated case, the price might decline toward the $0.280 level or even $0.2620 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.3050 and $0.3000. Major Resistance Levels – $0.3400 and $0.3550.
IMF Loan Deal Highlights El Salvador has finalized a $1.4 billion loan agreement with the International Monetary Fund (IMF) to strengthen its fiscal stability and drive inclusive economic growth. Pending IMF Executive Board approval, this deal also opens the door to additional financial backing from the World Bank and regional development banks, potentially raising the … Continue reading "El Salvador Cuts Bitcoin Policies Amid $1.4 Billion IMF Loan" The post El Salvador Cuts Bitcoin Policies Amid $1.4 Billion IMF Loan appeared first on Cryptoknowmics-Crypto News and Media Platform .
Following multiple review extensions since June, the regulator has approved the first dual Bitcoin-Ethereum ETFs.