The past week in the crypto industry has been marked by significant developments, showcasing a renewed sense of growth and collaboration. New regulatory approvals and institutional partnerships have taken centre stage, driving innovation and expanding user accessibility. Stablecoin issuers announced record-breaking market cap while some of them faced crackdowns too. These advancements demonstrate the industry’s resilience and potential, paving the way for a favourable future in the world of cryptocurrencies.
BitKeep Wallet Supports Token Swaps on Solana, Bringing Cost-Effective Trading to Users
BitKeep, a well-known decentralized multichain wallet, just made an exciting announcement: it now supports token swaps on the Solana blockchain platform. With the help of the decentralized exchange forum Raydium Protocol, BitKeep wants to make it easy for its users to swap tokens. The move is expected to pay off in the long run by letting customers trade cryptocurrencies quickly and cheaply on the Solana network. BitKeep has made it easy to trade between Solana and other popular chains like Arbitrum, Polygon, BNB Chain, and Ethereum with its cross-chain swap channel. This change shows how much BitKeep wants to grow its services and support different public chains.
Chinese Police Detain Trust Reserve Team, Adding to Troubles for Stablecoin Issuer
Trust Reserve is an offshore platform that focuses on issuing stablecoins. It is in a tough spot because police in China are looking into it. The company, which offers services in China, is having trouble doing business in that country at the moment. According to reports, the Chinese police have detained the stablecoin issuer’s team. This includes key members who have been missing since May 1. News outlets have shared exclusive information about the investigation, and some sources say that the platform was shut down because it was seized by the courts. The event adds to Trust Reserve’s problems in the Chinese market.
Tether Stablecoin Achieves All-Time High Market Cap
Tether, the company that made the first stablecoin, Tether.to, has done something amazing by beating its previous all-time high market cap of $83.2 billion. This makes Tether’s position as the best stablecoin and a leader in financial freedom and innovation even stronger. Since its launch in 2014, Tether’s USD-pegged stablecoin has become the biggest player in the cryptocurrency market, trading more than all other coins combined. Tether is committed to being open and honest, and it offers a quick and cheap way to make financial transactions. This makes it a safe option in volatile markets, especially in emerging economies.
Bitget Unveils EVM-Compatible Address Support
Bitget, well-known crypto derivatives and copy trading platform, made history when it became the first cryptocurrency exchange to support EVM-compatible addresses. This revolutionary feature lets Bitget users use a single address on multiple blockchains, which changes the way they trade. Users can now easily trade and store assets using a single EVM-Compatible Address across various chains on the Bitget platform. This makes crypto transactions more convenient and efficient. This milestone shows how committed Bitget is to making the complicated blockchain space easier to understand and giving users seamless cross-chain capabilities. This puts them at the forefront of innovation in the crypto industry.
Alchemy Pay Teams Up with Mastercard to Expand User Base and Simplify NFT Payments
Alchemy Pay, which is a well-known payment platform, has teamed up with Mastercard to reach a wider audience of users. As part of the partnership, Alchemy Pay’s latest project, Alchemy Pay NFT Checkout, will support Mastercard. This will let people all over the world buy digital artworks directly using Mastercard as a payment method. By adding Mastercard support, Alchemy Pay makes it easier for people to use and changes the NFT market by making it easier for people to pay.
Mercado Bitcoin Obtains Payment Provider License
The Central Bank of Brazil gave Mercado Bitcoin a payment provider license, which made it possible for the company to launch its fintech solution, MB Pay. The approval by the central bank is a big step forward for the exchange, making it possible to expand operations and provide better customer service. As a new payment service, MB Pay will offer digital banking services to Brazilian users using digital assets held on the platform. There are digital fixed-income investment orders, crypto staking, and other transactions as part of these services. Also, Mercado Bitcoin is working on a debit card that will make it easy for customers to get out of cryptocurrencies. The move shows how popular Brazil is becoming as a place for cryptocurrency businesses.
