Crypto Morning Post: PayPal launches cryptocurrency payment service, Find Steel Group and Yuancoin Group cooperate to explore stablecoin applications

Author: TechFlow

Yesterday's market dynamics

Market news: The US SEC has postponed the review of Truth Social and Grayscale cryptocurrency ETF applications

According to market news: The U.S. Securities and Exchange Commission (SEC) announced a postponement of its decision to review two cryptocurrency ETF applications:

Truth Social's application for a spot Bitcoin ETF
Grayscale submitted a spot Solana ETF application

Cboe submits application documents for the Canaray Collateralized INJ ETF and Invesco Galaxy Solana ETF

According to The Block, the Cboe BZX exchange has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund that tracks INJ, the native asset of the Injective blockchain. The fund is managed by Canary Capital Group LLC as the trust administrator. On the same day, Cboe BZX also submitted an application for the Invesco Galaxy Solana ETF.

The SEC is currently reviewing dozens of digital asset fund proposals, covering crypto assets such as DOGE, SOL, and XRP.

The Arbitrum Foundation will invest $14 million to subsidize the security audit of the ecological project

According to The Block, the Arbitrum Foundation has announced that it will launch a cybersecurity audit subsidy program after receiving approval from the ArbitrumDAO proposal. The plan will allocate 30 million ARB tokens (approximately $14 million) over 12 months to fund blockchain projects built on the Arbitrum network for smart contract security audits.

The program is designed for two types of projects: early-stage projects with product-market fit, and established projects with major upgrades planned. The project team will need to use a security audit firm from the list of pre-approved auditors, which will be announced this week.

PayPal has launched a cryptocurrency payment service that supports US merchants to accept more than 100 digital currencies

According to Fortune, PayPal announced the launch of a new payment service for small and medium-sized merchants in the United States, supporting the acceptance of payments in more than 100 cryptocurrencies, including Bitcoin and Ethereum. The service will be available through PayPal's online payment processing platform, with a transaction rate of 0.99% for the first year, adjusted to 1.5% from the following year.

During the transaction settlement process, users can connect their existing cryptocurrency wallets to the payment page, and the system will convert the cryptocurrency to PayPal stablecoin PYUSD through Binance or decentralized exchanges, and then convert it into USD to pay to the merchant.

Collectibles tokenization marketplace Courtyard has completed a $30 million Series A funding round, led by Forerunner Ventures

According to Fortune, New York-based collectibles tokenization platform Courtyard has completed a $30 million Series A funding round led by Forerunner Ventures, with participation from NEA and Y Combinator.

Courtyard was founded in 2021 by former YouTube employee Nicolas le Jeune and former Apple software engineer Paulin Andurand. The platform tokenizes physical collectibles like Pokémon and sports cards into NFTs, enabling trading, custody, and redemption, with vending machines for unpacking and instant buyback options.

Nano Labs increased its holdings of BNB to 128,000 coins, with strategic reserves exceeding $100 million

U.S.-listed company Nano Labs (Nasdaq: NA) today announced that it has increased its BNB holdings to 128,000, with a total value of more than $108 million at the current market price of $850 per coin. The company recently purchased 8,000 new BNB through over-the-counter transactions at an average price of $801 per coin, with an average overall holding cost of $713 per coin.

Liminatus Pharma, a U.S. medical company, will raise $500 million to invest in BNB

Liminatus Pharma (NASDAQ: LIMN), a Nasdaq-listed biopharmaceutical company, announced today that it plans to establish a subsidiary called "American BNB Strategy" with the goal of raising and investing up to $500 million in BNB, the native token of the Binance ecosystem, in stages. The company said the move was based on the long-term growth potential and robustness of the BNB ecosystem, not short-term speculation.

CEA Industries and 10X Capital in $500 million private placement to build BNB treasury

According to StreetInsider, CEA Industries and 10 X Capital have announced a $500 million private placement funding round backed by YZi Labs to build the BNB treasury, and the two institutions will expand the PIPE offering, with more than 140 subscribers participating in the offering, including Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Hypersphere Capital, Kenetic, and others.

Find Steel Group and Yuan Coin Group signed a letter of intent for strategic cooperation to jointly explore the application of stablecoins

According to the official announcement, the founding of the steel group (6676. HK) signed a letter of intent for strategic cooperation with RMB Group, planning to promote the "Steel Searcher" brand to participate in the construction of an international digital commodity trading platform, and explore the use of Hong Kong dollar-denominated stablecoins (such as HKDR) for cross-border trade settlement. RD Holdings is one of the first three companies to be eligible to issue stablecoins under the supervision of the Hong Kong Monetary Authority.

TRON INC filed a $1 billion hybrid securities offering application with the U.S. Securities and Exchange Commission

TRON INC has filed a Mixed Shelf application with the U.S. Securities and Exchange Commission (SEC) capping the amount of $1 billion, according to Reuters.

Market dynamics

Recommended reading

At the time of the new high, explore a new crossover species, BNB

This article describes how BNB is transforming from an exchange token to a cross-border financial infrastructure, combining on-chain ecology with real-world assets to promote it as a new species in the crypto market. The article explores BNB's technological upgrades, financialization attempts, and the implementation of payment scenarios in detail, demonstrating its flexibility and development potential between centralization and decentralization.

Sonic Ecosystem Ranks First in Trading Volume and Revenue: Shadow Brings x(3,3) to Interpret the Ultimate Evolution of DeFi Liquidity Incentives?

This article details Shadow Exchange, the core DeFi project in the Sonic ecosystem, which redefines the development path of DeFi through its innovative x(3,3) model, powerful transaction performance, and multiple income distribution mechanisms. The article also explores Shadow's technical architecture, liquidity framework, economic model innovations, and future development roadmap.

Behind Solana's boom, is it real manipulation or real value?

This article mainly discusses the current status of the Solana ecosystem and its potential problems, analyzes the impact of manipulation on prices in the cryptocurrency market, and proposes that the current market has entered the end of the cycle. Through historical cases and market phenomena, the article sheds light on the harms of manipulation and its unsustainability, while exploring the potential of other blockchains.

The power game behind stablecoins

This article explores the transition of cryptocurrencies from decentralized ideals to centralized regulation, analyzing the profound impact of the GENIUS Act on the stablecoin industry. Cryptocurrencies have gradually been institutionalized from their initial role as rebels to become part of U.S. monetary policy, while stablecoin regulation has also shown a protective effect on banks and the hegemony of the US dollar. The article provides an in-depth analysis of the contradictions between cryptocurrencies and traditional financial systems and possible future evolution trends.

Revealing Pump.fun and its mysterious founder, who have a history of Rug Pull?

This article focuses on the background of the cryptocurrency platform Pump.fun and its founders, revealing the early history of Dylan Kerler, one of the platform's co-founders, who was suspected of manipulating ICO projects and Rug Pull. The article explores in detail the Pump.fun's business model, background information on the founding team, and its association with early-stage crypto projects, while analyzing the ICO bubble and meme coin investment risks.

24.47K

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.