1️⃣ Circle's stablecoin launches on the World project, backed by Sam Altman✨
Circle, a stablecoin issuer, has launched its USDC stablecoin on World Chain, the blockchain of the decentralized identity project created by Sam Altman, CEO of OpenAI. World has also joined Circle's Cross-Chain Transfer Protocol (CCTP V2), which streamlines and reduces the costs of transferring USDC across compatible chains.
The world declared,
Nearly two million people in World already had USDC in their World app wallets. It has now been upgraded to native USDC, issued directly by Circle. World has a unique global distribution, with over 27 million users in more than 160 countries.
2️⃣ PayPal brings its stablecoin to Stellar for cross-border remittances and payment financing▶️
Reportedly, payment giant PayPal will launch its stablecoin PYUSD on the Stellar blockchain network. This move aims to strengthen the stablecoin's position in cross-border remittances and payment financing.
May Zabaneh, Vice President of blockchain, cryptocurrencies, and digital currencies at PayPal, stated
For years, stablecoins have been considered the "killer application" of cryptocurrencies by combining the power of blockchain with the stability of fiat currencies. As we see cross-border payments as a key area where digital currencies can provide real value, partnering with Stellar will boost the use of this technology and provide benefits to all users.
3️⃣ Payment giant Stripe will acquire cryptocurrency wallet company Privy‼️
According to reports, payment firm Stripe has agreed to acquire Privy, an electronic wallet infrastructure provider. While the terms of the deal have not been disclosed, the move comes after Stripe's acquisition of the Bridge stablecoin platform valued at $1.1 billion. The acquisition is part of Stripe's efforts to expand its web3 capabilities. Notably, Privy's integrated electronic wallet technology is used by several prominent cryptocurrency projects, such as the DEX Hyperliquid, restaurant loyalty company Blackbird, and HR platform Toku.
4️⃣ Flashbots veterans raise $20 million to enhance cryptocurrency user experience with OneBalance💰
OneBalance, a cross-chain infrastructure development company, has raised $20 million in a Series A funding round. The round was led by Cyber Fund and Blockchain Capital, with additional support from Mirana Ventures and L2IV. This latest round brings its total funding to date to $25 million. The company plans to use the funds to hire more employees and expand the functionality of its Toolkit product.
Notably, OneBalance was founded by key collaborators from Flashbots and a former engineer from Coinbase (COIN). The OneBalance toolkit provides developers with one-click access to transfers, swaps, and yield across chains, and is already compatible with native Bitcoin to EVM swaps, with integration with Solana coming soon.
5️⃣ GameStop presents a $1.75 billion offering as Bitcoin treasury consolidates💸
According to reports, the video game chain GameStop plans to offer a convertible senior bond issuance worth $1.75 billion. GameStop claims it will use the funds, at least in part, for investments in line with its Investment Policy. Notably, the company updated its investment policy to include bitcoin as a treasury reserve asset in March. It also intends to give initial bond purchasers an option to acquire an additional $250 million in bonds within two weeks of the initial issuance.
6️⃣ The Senate begins approving the stablecoin bill while the House of Representatives achieves victories in market structure🔍
Yesterday, the U.S. Senate voted 68 in favor and 30 against to invoke cloture on the U.S. Stablecoin Innovation and Establishment Guidance Act (GENIUS). Cloture is a procedural measure that paves the way for further debate. Notably, the vote was approved thanks to the alignment of many Democrats with Republicans to push for stablecoin regulation. The bill would establish a system allowing the issuance of stablecoins in the U.S. under the supervision of state or federal regulators.