Summary of AI
According to BlockBeats, on September 23, K33 Research analyst David Zimmerman highlighted the current practical use of cryptocurrencies despite the skepticism fueled by the meme craze. Zimmerman noted that the real options for using cryptocurrencies are already obvious if you look closely at the development of the market.
The market capitalization of stablecoins recently reached $175 billion, underscoring their importance in emerging markets. Stablecoins are important financial tools for people in these regions, helping them avoid hyperinflation in their local currencies and bypass exorbitant money transfer fees. This growing adoption means cryptocurrencies have practical utility beyond speculative trading.
In a major move, Mastercard has partnered with Mercurio to enable users to spend their own cryptocurrencies at over 100 million merchants. In addition, PayPal and Venmo have integrated the Ethereum name service, which allows users to transfer cryptocurrencies using human-readable names instead of traditional wallet addresses. These integrations make cryptocurrency transactions more accessible and convenient.
The DePIN Helium project cooperates with major telecommunications companies, as a result of which 113,000 mobile services have been registered. This indicates a shift where a significant number of users are choosing cryptocurrency-based services over traditional providers such as Verizon. Such partnerships highlight the growing acceptance and integration of cryptocurrencies into mainstream services.
With nearly 1 billion monthly active users, Telegram has integrated an open network (TON) that allows users to transfer cryptocurrency as easily as sending text messages. Similarly, Asian messaging app LINE, which boasts more than 230 million monthly active users, is implementing a similar plan with Kaia. These changes reflect the increasingly easier transactions with cryptocurrency and their integration into everyday communication platforms.
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