This week saw significant developments in the crypto space worldwide, with major partnerships and market trends shaping the industry’s landscape. Binance Pay expanded its reach in Europe, while Tether pushed stablecoin adoption in UAE real estate. Meanwhile, $USDT inflows to exchanges surged to a two-year high, hinting at a potential market shift. In Switzerland, diamond tokenization gained momentum, and Alchemy Pay strengthened its foothold in South Korea’s financial sector. Here’s a breakdown of the biggest crypto stories from the past week.
Binance Pay and xMoney Expand Crypto Payments in Europe
Binance Pay, the payment platform of Binance exchange, has partnered this week with xMoney to boost crypto payment adoption across Europe. The integration enables over 20,000 businesses, including government services, to accept crypto seamlessly.
This collaboration supports Binance Pay’s global expansion, which saw 32,000 businesses onboarded and 36% year-over-year growth. Users can now make everyday transactions, from travel to luxury purchases, with crypto, further driving mainstream adoption. This is a welcomed news for the European crypto lovers who are facing changing regulatory environment.
Tether and Reelly Tech Partner to Streamline UAE Real Estate Transactions
In another important news from this week, Tether partnered with Reelly Tech to integrate $USDT into UAE’s real estate market. This is intended to enable faster and more secure transactions for agents, buyers, and developers. Over 30,000 agents on Reelly Tech’s platform will benefit from digital asset payment solutions.
The collaboration includes an educational program to train real estate professionals on stablecoin transactions. Reelly Tech’s AI-driven platform optimizes property transactions, with $USDT reducing costs and processing times. This move aligns with Dubai’s booming real estate market and the UAE’s growing role in digital asset adoption. Tether continues expanding its presence in the Middle East through regulatory partnerships and blockchain initiatives.
$USDT Inflows to Exchanges Hit $2.72B, Highest Since 2022
This week, we saw huge activity in the stablecoin landscape. $USDT inflows to crypto exchanges surged to $2.72B this week, the highest level since 2022, according to IntoTheBlock. The rise suggests a shift in market sentiment and increased stablecoin deposits across exchanges.
The spike coincides with a recent market dip, pushing traders to move stablecoins for collateral amid liquidations. Historically, such inflows have preceded key market movements, hinting at a potential rebound.
Swiss Diamond Market Adopts TokenFi Blockchain for Seamless Trading
Switzerland’s luxury jewelry market is embracing blockchain for diamond tokenization, according to TokenFi. This shift enables digital ownership, verification, and trading without the need for physical possession, enhancing security and transparency. By linking diamonds to a blockchain ledger, tokenization simplifies transactions, eliminating intermediaries and reducing fraud risks. Buyers can trace a diamond’s origin and ownership history, ensuring authenticity.
Swiss jewelry brands like Van der Bauwede are integrating blockchain through partnerships with Swiss Diamond Lab, further expanding the diamond market. With Switzerland’s diamond exports reaching $1.4B in 2023, businesses are leveraging tokenization to improve security, efficiency, and liquidity.
Alchemy Pay Registers as Electronic Financial Business in South Korea
Last, Alchemy Pay also made headlines this week as it secured an Electronic Financial Business registration in South Korea through its investment in EZPG Co., Ltd. This allows it to operate under local financial regulations and integrate crypto-to-fiat services with major payment platforms like KakaoPay, Naver Pay, and PAYCO.
With crypto transactions gaining traction in South Korea, Alchemy Pay’s registration enhances legitimacy and expands its reach, enabling seamless fiat conversions. As the firm strengthens collaborations with key players, it aims to boost cryptocurrency adoption in everyday transactions, bridging the gap between traditional finance and the digital economy.
This week’s developments highlight the growing adoption of crypto across industries, from payments and real estate to luxury goods and financial services. Binance Pay’s expansion, Tether’s real estate push, and Alchemy Pay’s regulatory milestone all reflect crypto’s increasing integration into mainstream markets. Meanwhile, rising $USDT inflows suggest shifting market sentiment, and Switzerland’s embrace of blockchain for diamond trading underscores tokenization’s potential. As the industry evolves, these trends pave the way for broader crypto adoption and innovation in the coming months.
