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This Week in Web3: FTX Engineer Singh Walks, Crypto Payments Surge
- Recent advancements in blockchain infrastructure are positioning digital assets as more functional tools for real-world financial transactions.
- This week, the news showed that major players in finance and technology are more and more signaling growing confidence in stablecoins and cryptocurrency as credible tools for mainstream payments.
- Visa launched a money movement partnership with cryptocurrency exchange Coinbase.
- Alchemy Pay introduced the launch plan for its Layer-1 blockchain.
- Regulatory hurdles continue to cast a shadow over the crypto payments sector. Federal agencies are investigating stablecoin issuer Tether for possible violations of sanctions and anti-money laundering (AML) rules.
- Ex FTX executive Nishad Singh was sentenced to time served, three years supervised release.
- Binance announced Binance Wealth on Tuesday, a wealth management solution from the crypto exchange that lets wealth managers oversee the onboarding of their clients and similar to traditional wealth management.
- The crypto and stablecoin ecosystem is growing, and as consumer demand for faster, borderless payments grows, the integration of stablecoins and blockchain technology into mainstream financial services could change the global payments system.
- Stablecoins may very well serve as the bridge that connects today’s financial system with the decentralized aspirations of tomorrow.
- Blockchain enables faster, more transparent value transfers, an area where stablecoins are already enjoying more traction.
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