Mastercard has introduced a crypto Euro debit card in partnership with Mercuryo. The card allows users to spend crypto from their self-custodial wallets at over 100M merchants. This initiative integrates crypto into daily transactions, improving user control over their funds while advancing Mastercard's commitment to embedding digital assets in the mainstream economy.

Stripe will permit Europeans to use both their credit and debit cards to purchase Bitcoin

Crypto.com is partnering with Standard Chartered to expand access to multiple fiat currencies including USD, euros, and Dirhams through a new retail services business managed from its regional hub in Dubai. Servicing 90 countries, this collaboration aligns with the UAE's economic diversification goals and marks a significant step in Crypto.com's global expansion strategy.

Gnosis Pay has partnered with Visa to connect Safe self-custody smart accounts to Visa debit cards. This card will allow users to spend an onchain account at any merchant that accepts Visa. The feature will be available first in European markets.

MetaMask Debit Card 🦊, Coinbase Announces cbBTC 🪙, pumpdotfun Sees $5m in 24hr Revenue 💰

Robinhood Crypto has officially launched crypto transfers for its customers in Europe, a feature that has been highly anticipated in the region. This new capability allows users to deposit and withdraw over 20 different cryptocurrencies, including popular options like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The introduction of crypto transfers aims to provide customers with enhanced flexibility and control over their digital assets. Johann Kerbrat, the Vice President and General Manager of Robinhood Crypto, emphasized that this launch simplifies the process of self-custody and engaging with decentralized finance (DeFi) for users. By enabling deposits and withdrawals, Robinhood is ensuring that customers maintain control over their cryptocurrencies while enjoying the same reliable and cost-effective experience that the platform is known for. To celebrate the launch, Robinhood Crypto is offering a limited-time promotion where customers in Europe can receive a 1% match on all crypto deposits. This reward is given in the same cryptocurrency that users deposit, subject to certain conditions and a cap on the total rewards. In addition to crypto transfers, Robinhood Crypto provides a range of other benefits. Customers can buy, sell, and hold over 35 cryptocurrencies at competitive rates, trade Bitcoin without incurring fees, and stake their Solana holdings to earn an estimated annual percentage yield (APY). There are also rewards for holding USD Coin (USDC) and for participating in educational programs about various cryptocurrencies. Security is a key focus for Robinhood Crypto, which ensures that users' digital assets are protected. The platform does not lend out customers' crypto or use it for leverage, and the majority of assets are stored in cold storage. Additionally, Robinhood offers crime insurance to safeguard against theft and cybersecurity breaches. Crypto transfers are now available to all eligible Robinhood Crypto customers in Europe, marking a significant step in the platform's expansion and commitment to providing comprehensive cryptocurrency services. For more information, users can visit Robinhood's dedicated crypto page.

Fierce buy-now pay-later competition among payment card brands and independent providers is expanding conversion opportunities for merchants. Iconic credit card brands share a crowded stage with cryptocurrencies, digital wallets, and alternative payment schemes, each with their own value proposition and target demographic. Companies like Affirm and Klarna pose a significant threat to incumbent financial institutions by offering an alternative to bank or credit union cards.

Stripe and Coinbase are partnering to boost global crypto adoption by integrating USDC on Base into Stripe's payout and onramp services and incorporating Stripe's fiat-to-crypto onramp into Coinbase Wallet for instant crypto purchases with credit cards and Apple Pay.

The European Parliament's major committees have approved a ban on anonymous cryptocurrency transactions through hosted wallets. This aligns with the new Anti-Money Laundering legislation, which puts restrictions on cash transactions and anonymous digital payments. The ban specifically targets custodial crypto wallets offered by third-party providers. The decision sparked controversy in the space with some arguing that this is privacy infringement and others arguing that it isn’t a big deal.

Mastercard is partnering with major U.S. banking institutions like Citigroup, Visa, and JPMorgan to test a tokenized settlement system on a shared ledger platform, aiming to streamline multi-asset class settlements. This Regulated Settlement Network (RSN) trial integrates different asset types like treasuries and commercial bank money into a unified system, potentially improving settlement efficiency and lowering risks associated with traditional finance systems.

This post describes an experiment that evaluated the crypto onramp experience for new users using Phantom Wallet. The experiment demonstrated significant challenges in the fiat-to-crypto conversion process. None of the available payment providers supported credit card transactions, potentially because of concerns around fraud and chargebacks, posing a large obstacle for retail onboarding. There is a need for more streamlined and integrated onramping processes to increase crypto user adoption.

Leading restaking protocol EtherFi has announced EtherFi Cash, a new credit card associated with an onchain account. Users can pay using USDC holdings or borrowing USDC against their EtherFi portfolio. Any interest accrued can be paid off using eETH staking rewards. Card pre-orders will be available in July and shipped in September.

On September 25, 2024, PayPal Holdings, Inc. announced a significant enhancement to its services for U.S. merchants by enabling business accounts to buy, hold, and sell cryptocurrency directly from their PayPal accounts. This new functionality aims to meet the growing demand from business owners who wish to engage with digital currencies similarly to how consumers have been able to since 2020. However, it is important to note that this feature will not be available in New York State at the time of launch. Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal, highlighted the company's commitment to increasing the utility of cryptocurrency. He noted that the company has learned from consumer interactions with cryptocurrency and is now extending those capabilities to business accounts, allowing merchants to manage digital currencies with ease. In addition to the buying, holding, and selling capabilities, PayPal is also allowing U.S. merchants to transfer cryptocurrency externally to third-party eligible wallets. This means that business account holders can send and receive supported cryptocurrency tokens to and from external blockchain addresses, further enhancing their ability to operate in the digital currency space. PayPal has been progressively expanding its cryptocurrency offerings over the years. In 2020, the company first introduced the ability for consumers to buy, hold, and sell cryptocurrency. In 2023, it launched PayPal USD (PYUSD), a U.S. dollar-denominated stablecoin, which has since been integrated into various services, including the Xoom platform, allowing users to make fee-free transfers when using PYUSD. Most recently, PYUSD was made available on the Solana blockchain, providing users with more options for transactions. PayPal USD is issued by Paxos Trust Company, which is licensed to conduct Virtual Currency Business Activity by the New York State Department of Financial Services. The stablecoin is fully backed by U.S. dollar deposits and similar cash equivalents, ensuring its stability and reliability. Users can buy or sell PayPal USD at a fixed rate of $1.00 per token through PayPal and Venmo. This latest development reflects PayPal's ongoing efforts to enhance its cryptocurrency services and provide more options for both consumers and businesses in the evolving digital currency landscape.

ENS (Ethereum Name Service) integration on PayPal and Venmo now allows US users to send crypto using ENS names instead of long wallet addresses, simplifying transactions and enhancing security. This feature will expand to more regions soon, promoting a more connected and user-friendly approach to crypto transfers.

Circle has announced that its stablecoins, USDC and EURC, are now compliant with the new EU stablecoin regulations (MiCA), making it the first global stablecoin issuer to meet these standards. Effective immediately, Circle is issuing these stablecoins directly to European customers from its French headquarters, making USDC the leading regulated digital dollar in the EU market and enabling high growth for Euro digital currencies.

Stripe has announced it will allow customers to accept cryptocurrency payments on its platform. It will start this Summer with USDC on Solana, Ethereum, and Polygon, showing a demo of crypto payments using Solana at their developer conference. Stripe previously supported Bitcoin in 2014 but halted crypto efforts in 2018, citing its use as a store of value instead of as a medium of exchange. It processed $1 trillion in payments in 2023.

Visa is taking significant steps to support banks in the testing of tokenized assets and smart contracts, marking a pivotal move in its engagement with the cryptocurrency sector. The company has developed a new platform designed specifically for the development and testing of fiat-backed tokens. This initiative has already been utilized by Banco Bilbao Vizcaya Argentaria in Spain, showcasing Visa's commitment to evolving the way global banks operate within the changing financial landscape. The concept of tokenization is gaining traction, with industry leaders recognizing its potential. Larry Fink, CEO of BlackRock, a major asset management firm, has emphasized that the future of finance will involve the tokenization of financial assets. Visa's Crypto Head, Cuy Sheffield, has echoed this sentiment, highlighting the opportunities for banks to issue their own fiat-backed tokens on blockchain technology. He stressed the importance of doing this in a regulated manner to allow customers to engage with on-chain capital markets. Sheffield also pointed out that central banks are exploring the implications of tokenization, which could significantly modernize and digitize financial systems. The potential for integrating real-world assets onto blockchain platforms is vast, and with Visa's involvement, this transformation could occur more rapidly. Overall, Visa's initiatives reflect a broader trend in the financial industry towards embracing digital assets and the innovative possibilities they present.

Apple recently opened NFC chip access on iPhones to 3rd party app developers, allowing various wallet apps, including Web3 and crypto wallets, to use NFC for transactions and enabling developers to create user experiences where consumers can pay with USDC, potentially transforming direct merchant payments using blockchain technology. This development is significant as it expands payment possibilities beyond Apple Pay, allowing for various applications like USDC transactions, NFTs for tickets, and other digital assets to utilize tap-to-pay functionality on iPhones.

Crypto's path to hundreds of millions of users will come by making the user experience drastically better than Web2. Passwordless keys, web wallets, smart contract accounts, and open social graphs remove many frustrations around having multiple accounts, two-factor authentication, and siloed information. Signing into new apps will be a one-click process, with all relevant information and finances immediately available. Crypto will make the internet more usable and interconnected than ever before.

In the two weeks since its launch, €7.3 million EURC has been issued on Base, with adoption from various protocols and exchanges.

OKX, the world's fourth largest cryptocurrency exchange, is discontinuing its support for Tether trading pairs in the European Economic Area. This move comes ahead of the EU's implementation of the Markets in Crypto-Assets law, which restricts the use of certain stablecoins. OKX also plans to roll out new product offerings and Euro fiat onramps for EEA customers.

Mastercard is launching a haptic logo that provides vibrations in sync with its sonic brand to enhance customer trust during transactions. This innovation addresses shoppers' uncertainty at checkout and will initially debut in Latin America and Eastern Europe. The brand shares that addressing even small customer anxieties can lead to substantial returns.

Ether.fi has partnered with Scroll_ZKP to make Scroll's platform the settlement layer for the new Ether.fi Cash credit card, which offers up to 8% cash back on transactions. The card is accepted wherever VISA is and also includes perks like a complimentary pass to the Token2049 conference for certain cardholders. It promises a blend of efficient, cost-effective onchain and real-world utility.

Vodafone is planning to integrate crypto wallets into SIM cards, aiming to enable mobile users to leverage blockchain technology globally. Amidst these tech advancements, the company is also managing a substantial debt strategy involving raising nearly $3 billion, including a $1.8 billion loan initiative.

Coinbase has officially released cbBTC, an ERC20 token backed 1:1 by Bitcoin. This will allow millions of BTC holders to access DeFi apps across the @base and Ethereum ecosystems, with more chains to follow.

Revolut has announced Revolut X, a dedicated cryptocurrency exchange catering to professional traders, making it the first banking institution to venture into this arena. With a user base of 40 million worldwide, Revolut aims to provide specialized trading experiences with lower transaction fees and access to digital assets like Bitcoin, Ethereum, and XRP, initially available on desktops for UK customers with plans for further expansion.