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This Week in Web3 Innovation: Crypto Policies, Payments and Stablecoins
- Bitcoin, the first cryptocurrency in the world, could double its $100,000 record high and reach $200,000 in 2025 as institutional interest, regulatory clarity and mainstream utility are driving forces that could shape this potential trajectory.
- Regulation, long seen as crypto's biggest hurdle, could become the catalyst for the industry with the Securities and Exchange Commission approving bitcoin ETFs and robust regulations for crypto companies looking to shed their 'Wild West' image and enter the financial mainstream.
- Crypto is continuing its march toward mainstream adoption, with its role in enterprise finance growing, particularly with cross-border payments, as blockchain technology emerged as a key enabler, offering transparency, speed, and cost efficiency.
- For crypto to sustain its momentum, it must deliver on its promise of utility by focusing on real-world applications that enhance transparency, reduce costs, and improve efficiency.
- Crypto adoption is taking root in the Middle East, where partnerships are more than localized efforts and rather signals of crypto's global ambitions.
- Stablecoins are playing a pivotal role as a bridge between traditional finance and digital currencies, and their role is becoming more pronounced as newer solutions, such as Frax Finance's frxUSD stablecoin, offer unprecedented transparency and custody.
- KuCoin's solution designed to bring cryptocurrency payments into the retail sector will allow customers to complete purchases by scanning a QR code or using its app.
- Meanwhile, cryptocurrencies are increasingly used to make international payments beyond western sanctions, specifically in Russia as businesses reportedly use bitcoin and other cryptocurrencies.
- However, crypto's role in avoiding regulations remains one of its persistent knocks as domestic regulatory dynamics surrounding crypto in the U.S. has even led to banks cutting ties with customers on the political right or with industries such as the cryptocurrency sector.
- Finally, the acquisition of Arbelos Markets will strengthen investment firm FalconX's position among cryptocurrency derivatives dealers, driven by the growth of exchange-traded funds (ETFs) and derivatives markets and positive regulatory momentum.
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