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Mastercard bets $1.8B on stablecoins, Bitcoin wobbles near $76K, and OpenSea hits pause
PayPal just made its stablecoin available in 70 countries, turning PYUSD from a US experiment into a global play.
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The line between traditional payments and crypto is disappearing fast.
Two of the world's biggest card networks are now building stablecoin rails.
Meanwhile, Bitcoin's rally hit a wall and one major NFT platform got cold feet.
The theme today: legacy finance is sprinting in while crypto natives pump the brakes.
Mastercard just dropped $1.8B on a stablecoin startup
Mastercard is buying BVNK, a stablecoin payment infrastructure company, for up to $1.8B.
The deal plugs BVNK's crypto rails directly into Mastercard's global network.
That means stablecoin payments could soon flow through the same pipes as your Costco card.
This is the largest traditional finance acquisition of a stablecoin firm to date.
Markets
Bitcoin's rally ran into a wall — and oil might be stealing its thunder
BTC briefly topped $76K on Monday before sliding back hard below $74.5K. Traders are bracing for a packed macro week with FOMC and Bank of Japan decisions ahead.
Iran-driven commodity surges are pulling capital toward oil and metals instead. Onchain commodity platforms like Hyperliquid are seeing heavy energy contract volume.
BTC settled near $74K, ETH hovered around $2,300, SOL held steady near $94, and XRP climbed past $1.5.
PayPal opens PYUSD stablecoin access to 70 countries
PayPal users in South America, Africa, and Asia can now hold and send PYUSD.
Previously only US and UK users had access to the dollar-pegged stablecoin.
Users can also earn rewards on their holdings, which is PayPal's hook for adoption.
Cross-border payments just got a serious new competitor.
OpenSea pumps the brakes on its SEA token launch
OpenSea is delaying its highly anticipated SEA token indefinitely.
CEO Devin Finzer blamed tough market conditions for the postponement.
The foundation had been building at full speed but decided the timing wasn't right.
When even the biggest NFT marketplace won't launch a token, that tells you something about sentiment.
On Our Radar
The custody-free exchange: ChangeNOW brings enterprise-grade infrastructure to non-custodial crypto swaps*
Regulatory green light: Phantom gets CFTC blessing to trade with registered brokers
Ripple's moment: XRP finally breaks through the $1.5 barrier after a strong week.
*this is sponsored content.
ICYMI
Meme of the Day
That’s your briefing. Catch you next time.
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