While not without some growing pains, the financial system is reinventing itself. What’s new?
Major companies and banks are engaging with cryptocurrencies.
Policymakers are closing gaps in digital asset oversight.
ChatGTP creator envisions a more connected global economy (but accessing it may feel a little too close for comfort).
In this month’s newsletter, we’ll dive into these new crypto developments and how they could be a tipping point towards mass crypto adoption.
Summer is winding down soon, and so will this discount! Save a whole 25% off transaction fees using code SUMMER25* at any of our crypto ATMs or through our onlineOrder Desk.
We kicked off the first inaugural Ben Weiss roundtable, featuring not one, not two, but four Ben Weisses! Legal reporter for Courthouse News Service, crypto reporter for Fortune, CEO and founder of FLGHTX and co-founder of NXTG3NZ, and CEO of CoinFlip met to discuss their involvement in the fintech space and blockchain’s growing impact across different industries. Check out the full conversationhere.
CoinFlip Adds Highly Popular Digital Asset XRP to Offerings
CoinFlip’s Order Desk now offersXRP,one of the world’s most valuable cryptocurrencies by market cap. XRP facilitates easy conversions between fiat and different cryptocurrencies, supporting cross-border payments without the high fees or wait times of a traditional bank or exchange.
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From buying and selling to swapping and sending, Olliv offers you a personal digital wallet covering your crypto journey every step of the way. Need help getting started? Check out our new “How to” serieson YouTube.
Crypto News
💰PayPal’s New Digital Asset Opens Doors
Payments giant PayPal became the first major U.S. financial company to roll out its own dollar-backed stablecoin, PayPal USD (PYUSD), a blockchain-based digital token that can be used for payments, online purchases, and crypto conversions.
“The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar,” Dan Schulman, CEO of PayPal, said in a press release.
Just a day after PayPal’s coin launch, the Fed amped its oversightof chartered banks dealing with stablecoins, which many crypto fans took as a bullish sign for clearer regulations and more robust consumer protections.
👀Chat GPT Founder Launches Cryptocurrency, and All Eyes Are On It (Literally)
As AI continues to grow, distinguishing between humans and bots has become an issue that feeds into fraud and other financial crime.
On July 24, ChatGPT creator Sam Altman combined AI technologies with cryptocurrency by launchingWorldcoin(WLD), a decentralized blockchain that aims to preserve the “humanness” of the internet as well as offer globally accessible tokens with unique digital identities. To access Worldcoin (and get free crypto), over 2 million people worldwide opted for an eye scan that verifies their IDs—a sci-fi-tinged image that's prompted some privacy concerns.
📈BlackRock EFT Impact: Is It Good News?
The Fed may skip a rate hike next monthas it continues to observe effects of previous hikes filter through the economy. But forecasting inflation trends is not plug-and-play. With social media, news (or rumors) can quickly swing opinions and markets, which makes understanding economic cycles more so a waiting game and an (educated) guessing game.
The Big Flipping Number
1 trillion
Since Ripple Labs’ big win against the SEC, the price of the XRP token soared to96%within two weeks of the July ruling, briefly brushing up against a trillion-dollar market cap. The current price of XRP is $0.58 and can be purchased atCoinFlip’s Order Deskwith same-business-day delivery and at a competitive rate.
Questions?
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