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Solana-Based PayPal USD (PYUSD) Now on GCrypto | Key Points | July 31, 2024

Photo for the Article - Solana-Based PayPal USD (PYUSD) Now on GCrypto | Key Points | July 31, 2024

GM. Welcome back toย BitPinas Key Points: easily digestible news in concise formats for easy reading. In todayโ€™s recap: GCash announces the availability of Solana-based PayPal USD (PYUSD)!

Here are the latest crypto news stories in the last 24 hours.

Market Analysis and Updates ๐Ÿ“ˆ

Here are the crypto highlights of the day:

Crypto Price Update

  • Bitcoin (BTC): $66,192.72, up 0.4% over the last 24 hours.
  • Ethereum (ETH):ย $3,287.12 down 0.3% over the last 24 hours.
  • Solana (SOL): $181.10, up 0.4% vs the previous day.
  • Save: $1.10, up 48.3% vs the previous day.
  • inSure DeFi: $0.0062, up 38.4% over the last 24 hours.
  • Waffles: $0.0221, down 19.0% vs the previous day.

For the daily price update, check out our post on Facebook.


Feature News: Solana-Based PayPal USD (PYUSD) Now Available in GCash

Photo for the Article - Solana-Based PayPal USD (PYUSD) Now on GCrypto | Key Points | July 31, 2024

The Solana version of PayPal’s stablecoin called PYUSD is now available on GCash’s GCrypto platform.

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What’s the significance: Adoption of the Solana version is eclipsing the PYUSD that is on Ethereum, the blockchain where it was originally launched.

  • In fact, a recent news suggests that PYUSD’s Solana version is closing the gap on its Ethereum counterpart.

Meanwhile, this also means there are more available dollar-pegged stablecoins on the GCrypto app, which currently has USDT and USDC.

The numbers:

  • GCash is the largest e-wallet app in the Philippines.
  • Solana is the 4th largest blockchain by market capitalization of its cryptocurrency $SOL.

How it works:

  1. Open the GCash app.
  2. Tap on Invest and select GCrypto.
  3. Follow the verification steps to start using PYUSD.

Key quotes:

Sheraz Shere, GM of Payments at Solana Foundation shared:

โ€œThe launch of PYUSD on GCash marks a significant step forward in democratizing access to financial services, providing millions of users in the Philippines with seamless and affordable access to stablecoin technology.”

Kenneth Chua, Chief Business Develpment Officer of PDAX, which powers the GCrypto platform of GCash said:

“Whether it’s sending remittances or making purchases, this initiative will allow uses to embrace digital assets as a secure and practical solution.”

Winsley Bangit, Vice President and Group Head of New Businesses at GCash said:

“The transcendence of crypto, partnered with a platform like ours, creates a more solid structure on how our users can grow their wealth”

What to watch next: Continued expansion of digital financial services by GCash, aiming to keep up with customer preferences and technological trends.


Philippine Crypto News ๐Ÿ‡ต๐Ÿ‡ญ

  • Paytaca announced its new merchant partner in Ormoc Cityโ€“Tolit’s Foodstall, a store for affordable rice meals.
  • The Philippine Blockchain Week (PBWx) nation-wide series, started the first leg at Davao City for ChainReact: Igniting a Digital Revolution in the Philippines.

Educational Corner ๐ŸŽ“

Photo for the Article - Solana-Based PayPal USD (PYUSD) Now on GCrypto | Key Points | July 31, 2024

As the game, The Machines Arena, launches its play-to-airdrop campaign on the Ronin Network, check out this guide on how to participate.

  • The Machines Arena (TMA) is a 4v4 mobile game on the Ethereum Network with PvE and PvP modes, utilizing the Ronin sidechain.
  • The campaign allows players to earn $TMA tokens by participating in game modes and completing tasks, with rewards distributed based on a leaderboard system.

Regulation Watch ๐Ÿ“œ

Stay informed about the latest regulatory updates and what they mean for you:

  • Slovenia became the first EU nation to issue a sovereign digital bond, a 30 million-euro ($32.5 million) note settled through the Bank of France’s tokenized cash system as part of the ECB’s money settlement experimentation program.
  • Amid the upcoming U.S. presidential election, analysts at Bernstein note that crypto has become a partisan issue with Donald Trump making six major promises to support Bitcoin and Kamala Harris attempting to reset relations with the crypto industry.
  • One Trading secured regulatory approval from the Dutch Authority for the Financial Markets to operate as a regulated crypto derivatives exchange.
  • The vote on Senator Debbie Stabenow’s crypto bill has been delayed due to lack of bipartisan support, with a markup hearing initially planned for this week now postponed until September,

Community Spotlight ๐Ÿ”ฆ

Photo for the Article - Solana-Based PayPal USD (PYUSD) Now on GCrypto | Key Points | July 31, 2024
Aldrin Rabino shared price predictions during the BitPinas webcast.

Meet Aldrin Rabino: Also known as Crypto4Chun, he is a well-known content creator in the crypto space, offering insights, tutorials, and updates across various platforms:

  • He shares content on day trading, airdrops, and crypto investments in Youtube and Tiktok.
  • Active since 2016, focusing on educational content for crypto enthusiasts.
  • He is also one of the hosts of the BitBulaga webcast series.

Rabino is also a frequent guest and co-host in the BitPinas Webcastโ€”his recent appearance was on the Webcast Episode 46: Implication of Binance Ban in the Philippines.


More Web3 and AI News ๐Ÿ’ก

Discover the latest in web3 and AI innovation.

  • 21Shares integrated Chainlink’s Proof of Reserve on the Ethereum mainnet to enhance transparency for the Ethereum reserves backing its Core Ethereum ETF (CETH).
  • Superteam announced that the Solana Radar Hackathon, presented by Colosseum, will be held from September 2 – October 8.
  • The Global FinTech Institute and ICP Hub Singapore partnered to drive innovation and growth in the FinTech and Web3 sectors through initiatives like the FLEX investment platform and the promotion of the Chartered FinTech Professional certification.
  • The Data Ownership Protocol (DOP)launched on Polygon PoS to enhance data ownership and selective transparency.

Web3 Gaming Section ๐ŸŽฎ

The future of web3 is gaming, and here are the latest news.

  • Jambo partnered with Pixelverse to integrate Web3 games directly into its smartphones, aiming to boost blockchain adoption and provide seamless digital gaming experiences across 126 countries, particularly in emerging markets.
  • XProtocol is launching its ‘superchain’ on the Layer 2 Base chain to address scalability issues in web3 gaming, aiming to enhance user experience and drive mainstream adoption with lower fees, reduced latency, and easier wallet integration.
  • Matr1xlaunched its $MAX token with a $1.5 billion valuation, aiming to revolutionize Web3 mobile gaming by enhancing community engagement, decentralization, and creator involvement.

Event Announcements ๐Ÿ“…

Donโ€™t Miss Out: Upcoming events, webinars, and meetups in the crypto space!


Noteworthy ๐ŸŒŸ

Key updates and announcements from around the crypto and blockchain world:

  • Key updates and announcements from around the crypto and blockchain world:
  • Elon Musk expressed on the X Takeover podcast that he sees some merit in Bitcoin and other cryptocurrencies following Donald Trump’s keynote speech at the Bitcoin 2024 conference, however, he emphasized that he only promotes crypto in a joking manner.
  • A 29-year-old Bitcoiner was kidnapped and murdered in Kyiv by four assailants who stole $200,000 worth of bitcoin.
  • A crypto wallet associated with the U.S. Department of Justice transferred $2 billion worth of confiscated bitcoin to an unidentified wallet, later splitting the funds into two separate addresses, according to Arkham Intelligence data.
  • NFT artists Brian Frye and Jonathan Mann sued the SEC to clarify whether NFTs fall under the agency’s jurisdiction as securities.

Stay Connected:

Weโ€™d love to hear from you! Reply with your thoughts or questions.

This article is published on BitPinas: Solana-Based PayPal USD (PYUSD) Now on GCrypto | Key Points | July 31, 2024

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