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Major financial giants back stablecoin adoption. Visa and PayPal leaders voiced strong support at DC Fintech Week, stressing how stablecoins can change global payments. At the same event, Chainlink and Swift shared news of their blockchain breakthrough. Also Read: Michael Saylor’s Bold U-Turn: Embracing Self-Custody Amid Backlash How Visa and PayPal’s Stablecoin Adoption is Driving Crypto Milestones with Chainlink and Swift Major Financial Players Push for Integration Two key figures supported stablecoins. Visa’s crypto head, Cuy Sheffield, and PayPal VP Jose Fernandez da Ponte spoke about new uses beyond trading. They plan to cut costs and speed up global transfers. Both companies will soon add more stablecoin Features to their services, promoting stablecoin adoption in everyday transactions. Swift and Chainlink Break New Ground “The collaboration between Chainlink and SWIFT is a landmark achievement that underscores the potential of blockchain technology to revoluti...

Payments giant PayPal has reportedly completed its first business transaction using the dollar-pegged stablecoin it launched last year. Bloomberg reports that on September 23rd, the San Francisco-based company used PayPalUSD (PYUSD) to pay an invoice to the Big Four accounting firm Ernst & Young. Paypal settled the undisclosed amount using SAP digital currency hub, a platform that enables users to make and receive payments in cryptocurrencies and stablecoins without intermediaries. Jose Fernandez da Ponte, PayPal’s senior vice president of blockchain, cryptocurrency, and digital currencies, says the payment demonstrates a new use case for the stablecoin, which now has a market capitalization of nearly $700 million. “The enterprise environment is very well-suited for it. It’s a very rational conversation to have with the CFO.” According to da Ponte, business-to-business transactions can be expensive and risky particularly those that cross borders becau...

Recent reports have indicated that Elon Musk might be considering the transformation of X (former Twitter) into a modernized iteration of PayPal.  Previously, a major institution’s endorsement of Bitcoin (BTC), like that of PayPal in late 2020, played a pivotal role in initiating a bullish surge in Bitcoin prices , at the time propelling its value to nearly $70,000. The future of X According to Charles Gasparino, a correspondent at Fox Business News, Elon Musk is engaged in ongoing discussions with prominent Wall Street executives concerning the future of X.  SCOOP: @elonmusk continues to have conversations w top Wall Street executives on future of @X. Seems to be settling, they tell me, on a new fangled payment system, updated version of @PayPal. It will offer low transactions costs (as opposed to credit cards) & monetize user info — Charles Gasparino (@CGasparino) August 24, 2023 Sources suggest that Musk is leaning towards introducing an evolved payment sy...

The MetaMask crypto wallet now offers US users to purchase Ethereum, according to an announcement by developers today. MetaMask is the first web3 wallet to enable users to buy ETH using PayPal. In addition to purchasing ETH directly, the integration also supports the transfer of ETH from PayPal to MetaMask, a developer blog says. Here’s how to buy Ethereum on MetaMask with PayPal, step by step. How to Purchase ETH on MetaMask with Paypal MetaMask offers a step-by-step tutorial on buying Ethereum with PayPal. Here’s how to do it: Login into the MetaMask browser extension, mobile app, or MetaMask Portfolio. Click or tap “ BUY ” to get started. Select country (US only) and  state  (Note: PayPal crypto service is not available in Hawaii) Choose “ PayPal ” as your payment method. Select  ETH , then enter the amount you want to purchase Sign in  to your PayPal account. Select payment option of choice: PayPal  balance, eligible bank, or debit card . Review th...