Here is what happened yesterday in the crypto market:
Visa Expands Stablecoin Use in Key Regions
Payment card giant Visa has broadened its stablecoin capabilities across Central and Eastern Europe, the Middle East, and Africa, partnering with Yellow Card to boost digital dollar adoption in Africa. This move signals a growing integration of stablecoins into mainstream financial systems, potentially enhancing transaction efficiency and accessibility in these regions.
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Kraken Introduces Bitcoin Staking via Babylon
Kraken has launched Bitcoin staking through an integration with Babylon, tapping into the increasing interest in decentralized finance (DeFi) applications for BTC. This allows users to earn rewards by staking their Bitcoin, contributing to network security while exploring new avenues for yield generation within the crypto ecosystem.
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Musk’s X to Integrate Investments and Trading
Elon Musk’s X platform is set to introduce investment and trading features, aiming to transform into an “everything app.” This expansion into financial services could allow users to manage investments and conduct trades directly within the social media environment, potentially broadening access to financial tools for a wider audience.
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Project Eleven Secures Funding to Defend Bitcoin Against Quantum Threats
Project Eleven has raised $6 million to safeguard Bitcoin from potential quantum computing attacks. This initiative addresses concerns that advancements in quantum computing could render current encryption methods obsolete, highlighting proactive efforts to maintain the security and integrity of the Bitcoin network.
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US Bitcoin ETFs Mark 8-Day Inflow Streak
Despite market volatility, US-based spot Bitcoin ETFs have recorded eight consecutive days of inflows, totaling $388.3 million on Wednesday. This demonstrates sustained investor interest. This resilience underscores the growing acceptance of Bitcoin as an investment asset, even amidst broader economic uncertainties.
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