Dear PointPay Family,
A full week has passed, and over these seven days, we've seen a range of fascinating developments! To help you stay up-to-date without getting overwhelmed by all the news, we've gathered the top 5 most significant and interesting events in the crypto world, all in one place.
Swift Launches Global Platform to Simplify Tokenized Asset Transfers
Swift has introduced a new global platform designed to simplify transactions involving both traditional and emerging assets like cryptocurrencies. By enabling real-time exchanges of tokenized assets through Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) processes, Swift aims to enhance efficiency across its network.
The initiative addresses the growing need for interoperability in the tokenized asset industry, which faces significant challenges due to differing technologies. With plans to integrate central bank digital currencies (CBDCs) and stablecoins alongside fiat, Swift is positioning itself to support the future of global asset trading, projected to reach $30 trillion by 2034.
PayPal and Venmo Streamline Crypto Payments with ENS Integration
PayPal and Venmo have integrated the Ethereum Name Service (ENS), making it easier for US users to send cryptocurrencies. By entering an ENS domain instead of a wallet address, users can now link to the recipient’s crypto wallet seamlessly.
This new feature reduces errors in crypto transactions and simplifies the process of managing wallet addresses. The integration is expected to appeal to both beginners and experienced users, encouraging broader adoption of decentralized finance.
Bored Ape NFT Prices Plummet 93% Since 2022 Peak
Bored Ape Yacht Club NFTs, once the symbol of NFT hype, have seen a dramatic 93% drop in value. From a peak price of $429,000 in April 2022, these digital assets now trade at just $27,600.
The steep decline reflects broader market challenges, as trading volumes have fallen and interest in NFTs has waned. Despite their "blue chip" status in the NFT world, the future for Bored Ape holders remains uncertain.
Mastercard and Mercuryo Partner to Launch Crypto Debit Card in Europe
Mastercard has teamed up with Mercuryo to introduce a crypto debit card that allows users to make purchases directly from their self-custodial wallets. Available at over 100 million European merchants, this new card makes spending crypto as easy as using traditional currency.
Bitcoin Mining Difficulty Hits New All-Time High
Bitcoin mining difficulty has reached a new record of 92.67 trillion, following a 3.6% increase this week. The rise, triggered by the growing number of miners, occurred at block height 860,832 and reflects the ongoing demand for computational power in the Bitcoin network.
This increase, driven by the April halving that reduced block rewards, forces miners to continuously upgrade their equipment to remain competitive, pushing the network’s hash rate to a new peak.
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