Switzerland’s economy is showing early signs of complete digitalization, as digital transactions have now surpassed cash payments, according to a new survey. Switzerland has long favored cash, with the average person holding around $10,481 in bills and coins. It’s been a cultural norm, valued for privacy and ease. But a new survey from the Swiss National Bank appears to show that debit cards have now edged out cash as the most common way to pay. The survey found that in 2024, 35% of in-store purchases in Switzerland were made with debit cards, overtaking cash, which made up 30%. That’s a big jump from 2017, when only 21% of payments were made with cards, and 70% were still in cash. For years, the Swiss held onto their cash-based culture, even as digital payments became more popular elsewhere. But now experts say the shift to cashless payments isn’t all that surprising. In an interview with Bloomberg, Alexander Koch, an economist at Raiffeisen Switzerland, said international comparisons “show that German-speaking countries in particular are very attached to cash, unlike the Netherlands and Scandinavia.” He also noted that the pandemic “has accelerated the move away from it also here.” Opportunity for Swiss stablecoin Despite the growing trend of digital payments, Switzerland remains one of the world’s top holders of cash. The country is ranked second for the largest average cash holdings per person, next only to Luxembourg. Yet, the shift away from cash continues. The SNB’s October announcement that public transport operators are planning to reduce cash acceptance further underscores this trend. In an interview with crypto.news, Dominic Weibel, head of research at Bitcoin Suisse AG, suggested that Switzerland’s increasing adoption of cards to cash “signals a broader openness to digital forms of money.” “While crypto payments remain niche today, the transition to digital means of payments creates fertile soil for utility, especially given that 8% of the global population now own crypto. Worldline already supports crypto at +85,000 merchants, and cities like Lugano for instance are accepting Bitcoin or stablecoins for everyday transactions.” Dominic Weibel Weibel also pointed to cities like Lugano, where Bitcoin ( BTC ) and stablecoins are already being accepted for everyday transactions, as a sign of growing acceptance. “We expect adoption to develop from a novel concept into broader optionality in the retail domain, although at a relatively slower pace than in other countries where debasing domestic currencies catalyse demand for tokenized dollars.” Dominic Weibel You might also like: UAE and Switzerland lead as premier locations with no crypto tax, research finds The SNB’s survey also revealed that 18% of payments in the country were made via mobile payment apps, while credit cards accounted for 14%. Addressing the growing acceptance of mobile payments, Weibel sees a significant role for stablecoins and tokenized assets in Switzerland’s evolving landscape, saying that stablecoins are “positioned to capture the largest piece of the cake since they remove the volatility headache linked to crypto assets.” “While dollar denominated stablecoins currently sport 99% market penetration, there is substantial opportunity for a Swiss stablecoin. The increasing adoption of mobile payment apps like TWINT already indicate the willingness to embrace novel payment technology.” Dominic Weibel The next logical step, Weibel argues, is tokenized Swiss francs that can “plug into both mobile apps to streamline payments while unlocking novel functionality like instant settlement, smart contract automation and the opportunities of decentralized finance.” No rush with CBDC Despite the country’s increasing reliance on digital payments, the SNB has made it clear that it does not intend to rush the introduction of a central bank digital currency, particularly as it remains cautious about the potential costs and privacy concerns associated with digital money. As Thomas Moser, a senior economist at the SNB, explained in a 2021 interview with finews, the central bank is wary of replacing cash with CBDC as “risks outweigh the benefits compared to the existing systems.” Moser further emphasized that one key factor in Switzerland’s reluctance to introduce the so-called e-franc is its focus on data protection, noting that “one advantage of cash is that you can use it to pay completely anonymously.” “If, on the other hand, you pay digitally, a lot of data is generated. Not only financial data but also data about what you buy and where you are at any given time.” Thomas Moser As cash usage declining in Switzerland, Weibel pointed to the recent developments in Swiss banks, such as UBS’s issuance of digital bonds and the active running of the SNB’s wholesale CBDC pilot. He pointed put that institutional engagement with blockchain infrastructure is “demonstrating clear acceleration,” adding that Bitcoin Suisse AG expects this trend to “manifest further across multiple institutional verticals in the months and years ahead.” Read more: Exclusive: Nexo expands card to Switzerland, Andorra
Crypto is heating up and the bulls are hunting for explosive coins. Ripple (XRP) and Mutuum Finance (MUTM) are two projects that have risen above the noise, each telling a different story about the potential for a $5.00 market value in 2025. XRP is at a pivotal point, standing on the verge of a bearish breakdown or a bullish comeback. At the same time, Mutuum Finance (MUTM) is setting records in its own presale, with Phase 4 going quickly as investors secure profits ahead of the next price rise. Ripple (XRP) — Turning Point Ripple (XRP) is once again at a crossroads. A bearish head-and-shoulders pattern has emerged on Ripple (XRP) daily chart, which threatens to Ripple (XRP) down to $1.50 if support levels fail. Losing the $2.00 threshold could spark a larger Ripple (XRP) drop, to as low as $1.07, according to analysts. But not all signals are dire. The bearish setup dissolves if Ripple (XRP) reclaims $3.00, nonetheless, potentially triggering the rally toward $15.00, according to some estimates. The bulls vs bears tug-of-war keeps Ripple (XRP) volatile. The recent price action flash freeze at the 20-day EMA ($2.36) with the RSI is hovering near neutral, suggesting a mixed Ripple (XRP) price sentiment. For investors, Ripple (XRP) is still a high-risk, high-reward play — its next big move will decide whether it flares out, or skyrockets. Mutuum Finance (MUTM): Pumps Lead Up To Presale The uncertain future of Ripple (XRP) allows Mutuum Finance (MUTM) to follow a strategic path of development. The presale tokens of the project earned $6,000,000 in funding while attracting more than 7,700 investors to lock their tokens. Mutuum Finance (MUTM) stands at $0.025 before it undergoes additional price increases according to its Phase 4 status. Stage 5 of the pricing structure will increase MUTM to $0.03 dollars per token to enable a 20% profit gain for initial buyers. The main opportunity within Mutuum Finance emerges from its tokenomics system. Phase 4 investors will secure a substantial 140% profit when Mutuum Finance (MUTM) launches at $0.06 during its debut. From a projection based analysis it should climb to $1.50 or more in the next time frame because of its lending structure and token buying system. Mutuum Finance (MUTM) stands out from typical speculative tokens since it offers real utility functions including decentralized borrowing and lending features and generates income from mtTokens. Why Phase 4 Matters The clock is ticking for investors to buy at the current price. Once Phase 4 sells out, the 20% price increase triggers, and the time frame for maximum returns shrinks. In investing in tokens early backers don’t just buy a token, then expecting a future listing on an exchange—this is an opportunity for them to lock in this position prior to exchange listings and trains of ecosystem growth. The Mutuum Finance team is conducting a smart contract audit with CertiK, will allay confidence. Upon completion, results will be disseminated through official Mutuum Finance (MUTM) channels, adding credibility to the project. Both Mutuum Finance (MUTM) and also XRP have their paths to $5.00. The price of XRP is tied to macroeconomic trends and regulation, while Mutuum Finance (MUTM) price will follow presale demand and platform usage. Mutuum Finance makes a strong case for investors looking for near term returns with less volatility. Don’t Miss the Next Phase Timing is everything in the crypto space, and early movers are rewarded. The completion of 4th phase of Mutuum Finance becomes good news near its cap with its next price increase being a surety. Lock & load now before prices go even higher. Ripple (XRP) to defy bears, or is Mutuum Finance (MUTM) the real deal? One thing’s for sure—2025 will be a pivotal year for both. For more information about Mutuum Finance (MUTM) visit the links below: Website: https://www.mutuum.finance/ Linktree: https://linktr.ee/mutuumfinance
On April 3rd, notable crypto advisor Justin Sun leveraged his social media platform to announce the apparent bankruptcy of First Digital Trust (FDT), a statement delivered devoid of emotional undertones.
California Representative Maxine Waters, ranking member of the US House Financial Services Committee, used her opening statement at a markup hearing to criticize President Donald Trump’s business and ethical entanglements with the crypto industry, including the launch of a stablecoin by a family-backed company. Addressing lawmakers at an April 2 hearing, Waters said Trump had used his position as president to leverage “multiple crypto schemes” for profit, including a US dollar-pegged stablecoin launched by World Liberty Financial (WLFI) — the firm backed by his family. The California lawmaker pointed to Trump’s memecoin launched in January, his plans to establish a national cryptocurrency stockpile, and “his own stablecoin,” referring to WLFI’s USD1 token launched in March. Rep. Maxine Waters addressing the House Financial Services Committee on April 2. Source: GOP Financial Services “With this stablecoin bill, this committee is setting an unacceptable and dangerous precedent, validating the president and his insiders’ efforts to write rules of the road that will enrich themselves at the expense of everyone else,” said Waters, adding: “Trump likely wants the entire government to use stablecoins from payments made by the Department of Housing and Urban Development, to Social Security payments, to paying taxes. And which coin do you think Trump would replace the dollar with? His own, of course.” Waters does not stand alone in her criticism of Trump’s crypto ventures , with many lawmakers and experts across the political spectrum suggesting potential conflicts of interest. Committee Chair French Hill, who spoke on stablecoins before Waters, also reportedly said that the Trump family’s involvement in the industry makes legislation “more complicated.” “If there is no effort to block the President of the United States of America from owning his stablecoin business [...] I will never be able to agree on supporting this bill, and I would ask other members not to be enablers,” said Waters. Related: Crypto has a regulatory capture problem in Washington — Or does it? Representative Bryan Steil, who introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, did not immediately address Waters’ concerns about Trump’s stablecoin but referred to establishing safeguards for consumers. Hill did not mention Trump in his opening statement but said there needed to be a “clear federal framework” for payment stablecoins. Crypto legislation moving through Congress The committee will consider amendments to the STABLE Act, as well as bills to combat illicit finance using emerging financial technologies and blocking the US government from issuing a central bank digital currency, or CBDC. The markup hearing was a necessary step before the committee could vote on whether to advance the bills to the House of Representatives. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
Ripple integrates RLUSD into its payments solution
Ethereum has been facing a challenging period, with its price falling by nearly 10% over the past week. The cryptocurrency briefly surpassed the $1,900 mark but was unable to maintain momentum and is fighting to remain above it now. This price drop follows a broader trend of market volatility, which has raised concerns about its price trajectory. This decline in price may be linked to shifting investor sentiment, as on-chain data suggests a notable reduction in large Ethereum transactions. Ethereum Whales Are Pulling Back According to crypto analyst Ali Martinez’s latest findings , there has been a significant decline in large Ethereum transactions since February 25, with a reported drop of 63.8%. This decrease was indicative of a notable reduction in whale activity on the network, which suggests that large-scale investors may be pulling back or reallocating their holdings. Interestingly, whales sold 760,000 ETH in the last two weeks alone. This downturn in whale activity coincides with the actions of a long-term Ethereum holder who recently liquidated their remaining assets. Lookonchain’s update revealed that an Ethereum OG sold their remaining 2,001 ETH, which is worth around $3.82 million, on April 2nd. The investor originally purchased 5,001 ETH for $1.38 million at $277 per coin back in 2017 and held through Ethereum’s bull run, even when prices soared to $4,878. Over the past month, however, they began selling and realized a total profit of $8.66 million in the process. At its peak, the investor’s unrealized gains reached as high as $23 million. All Eyes on Pectra’s Mainnet Launch Despite the successful finalization of Ethereum’s Pectra upgrade on the Hoodi testnet, the network has struggled to maintain a meaningful rally. Now, all eyes are on the highly anticipated upgrade on mainnet, which combines improvements from the Prague and Electra proposals. It is set to go live on the Ethereum mainnet on April 30, with a tentative activation scheduled for slot 11,599,872. There is still optimism that the mainnet launch could generate renewed investor interest and potentially trigger a more significant price movement. The timeline for the upgrade is still subject to final approval, with confirmation expected at the next All Core Developers Execution (ACDE) meeting. The post Ethereum Whale Activity Plummets as Large Transactions Drop 63.8% Since Late February appeared first on CryptoPotato .
Ripple has integrated its USD-backed stablecoin, RLUSD, into its Ripple Payments platform to streamline cross-border transactions for enterprise clients, with the asset nearing $250 million in market capitalization since its December 2024 launch. Ripple Adds Enterprise Stablecoin RLUSD to Cross-Border Payment System Ripple Payments, a platform that claims to process billions in transaction volume, now
Ripple has announced that its RLUSD stablecoin has been launched on cryptocurrency exchange Kraken and has also been integrated into its payments platform. The development comes as the stablecoin market continues to heat up as U.S. lawmakers push for regulatory clarity. The company confirmed in a statement that RLUSD is now being used for cross-border payments through its main payment solution. Select clients, including cross-border payment providers BKK Forex and iSend, are leveraging RLUSD to enhance their treasury operations. “Ripple has enabled RLUSD cross-border payments in its main payment solution,” the company said, adding: “RLUSD is used in payment flows with select customers to improve cross-border treasury operations.” Related News: BREAKING: FDUSD Team Makes Official Statement After Decline Since its launch in December, RLUSD’s market cap has surpassed $240 million, indicating growing adoption. Jack McDonald, SVP of Stablecoins at Ripple, highlighted the stablecoin’s expanding use cases. “We see market cap continuing to grow,” McDonald said. “RLUSD is used for a number of use cases, including use as collateral in both crypto and traditional financial trading markets.” *This is not investment advice. Continue Reading: There’s a New Development About Ripple’s (XRP) New Giant Project RLUSD – Company Makes a Statement
The cryptocurrency market remained relatively stable on Wednesday as former President Donald Trump prepares to finalize his "Liberation Day" tariffs later in the day. Bitcoin (BTC) is up 2.6% over the past 24 hours, trading around $87,000. Ethereum (ETH) dipped 0.6% to $1,905, while XRP gained 0.6% to $2.16. Solana (SOL) climbed 2.5% to $131. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
The First Digital US-dollar pegged stablecoin ( FDUSD ) depegged on April 2 following claims of insolvency from Tron network founder Justin Sun, who said that the issuer of the tokenized fiat equivalent, First Digital, is insolvent. First Digital responded to the claims by assuring users that the issuer is completely solvent and said that the dispute is with TrueUSD ( TUSD ), another stablecoin. The firm wrote in an April 2 X post : "Every dollar backing FDUSD is completely secure, safe and accounted for with US-backed Treasury Bills. The exact ISIN numbers of all of the reserves of FDUSD are set out in our attestation report and clearly accounted for." First Digital also indicated they would be taking legal action against Sun for making the claims on social media. FDUSD loses its dollar peg following online claims. Source: CoinMarketCap This is a developing story, and further information will be added as it becomes available.