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This Week in Web3: Crypto Banking, Payments, and 2025’s Financial Landscape
- The integration of cryptocurrency into traditional finance was confirmed after Bitcoin's price exceeded $100K, reflecting blockchain's usability. Despite crypto payments being a new area for many customers and facing regulatory challenges, cryptocurrency payments firm Triple-A will integrate with Coinbase. Wednesday saw a debit card from European cryptocurrency exchange WhiteBIT launched in conjunction with Visa, enabling crypto transactions with cashback benefits, while Circle and Binance are joining forces for stablecoin promotion. Cryptocurrency regulations in the US may be shaped by David Sacks, nominated for President-elect Donald Trump's administration's new AI and crypto policies.
- Crypto payments enablement within everyday payments has not yet taken off, requiring support channels and educational resources to ease consumer adoption leading to widespread adoption. Meanwhile, the Deutsche Bank has become the corporate banking provider for Cryto.com in Singapore, Australia, and Hong Kong, potentially leading to additional banking support and coverage in new countries pending further collaborations.
- The face of crypto regulation is poised to change with Trump's administration coming into place, with a nomination shaping AI and crypto policies. The exclamation point on the US's changing tide is that fact President Trump's son Eric spoke at the Bitcoin conference in Abu Dhabi on Monday, stating that America will have the most pro-crypto president in history, further providing opportunities for banks to position themselves and the trusted gateways for digital economy by partnering with stablecoin issuers or development proprietary on-ramp solutions.
- As deregulation carries risks, boundaries around security laws being pushed too far can result in increased market volatility and put inexperienced investors at risk if they purchase unvetted or underregulated digital assets. To mitigate risk in the crypto asset market, the Financial Stability Oversight Council (FSOC) has proposed several actions or legislation, including supervision over crypto assets, subsidiaries, etc. and continued efforts to inform consumers about the risks of cryptocurrencies, stablecoins, and other digital assets.
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