SEC’s New Approach to Crypto Securities

The Securities and Exchange Commission (SEC), under the leadership of Chair Paul Atkins, is embarking on a mission to redefine which tokens are classified as crypto securities. This strategic initiative, known as “Project Crypto,” promises a shift away from the enforcement-heavy approach of previous administrations. The aim is to create a “token taxonomy” based on the Howey Test, reflecting the dynamic nature of digital assets.

Atkins emphasized that this new framework does not imply leniency. The SEC will continue to oversee and address cases of fraud and tokenized securities. Moreover, this initiative is designed to complement legislative efforts by Congress, offering a holistic approach to market regulation.

Circle’s Arc Token Exploration

Meanwhile, Circle is making headlines with its exploration of a native token for its Arc Layer 1 blockchain. As the company reported a substantial growth in USDC supply, this move could significantly enhance its network’s utility. In Q3 alone, Circle achieved a total revenue of $740 million, with USDC circulation skyrocketing to $73.7 billion, marking a 108% increase year-over-year.

Circle’s management also raised its 2025 revenue outlook, projecting up to $100 million in “other revenue” streams, driven by subscriptions, services, and transactions. The potential development of a native token could further solidify Circle’s position in the stablecoin-centric ecosystem.

Visa’s Innovative Pilot Program

Visa is also making waves with its new pilot program allowing businesses to send payouts in USDC. This initiative targets creators, freelancers, and gig workers, offering near-instant, cross-border payments. Initially, only USDC is supported, but Visa plans a broader rollout by 2026.

Stablecoins are becoming a central element of Visa’s strategy, as evidenced by over 130 stablecoin-linked card programs across 40 countries. The pilot significantly expands Visa Direct’s capabilities, providing users with fast and borderless access to earnings.

JPMorgan’s JPM Coin on Base

JPMorgan has officially launched its USD-denominated deposit token, JPM Coin (JPMD), on the Ethereum Layer 2 network Base. This development follows a successful pilot phase and proof-of-concept testing. Institutional clients can now benefit from 24/7, near-instant onchain settlements.

JPM Coin represents existing JPMorgan bank deposits on a public blockchain, promising regulated, KYC-compliant transactions. The bank is also considering expanding JPMD to other blockchains and exploring a euro-denominated version.

As the digital asset landscape continues to evolve, these developments highlight the importance of regulatory clarity and innovation in the crypto space. With SEC’s new crypto securities guidelines and Circle’s potential Arc token, the industry is poised for significant advancements.

The post Crypto Securities: 5 Amazing Insights into SEC’s Powerful Clarification Plan appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Announced recently, Visa’s expansion of its Visa Direct service to include stablecoin payouts marks a significant shift in how funds are transferred globally. By allowing users to receive payments directly into digital wallets, Visa aims to eliminate the delays associated with traditional bank transfers.

Stablecoin Payouts: A Financial Game Changer

The incorporation of stablecoin payouts into Visa Direct is a strategic move to enhance cross-border liquidity and accessibility. Stablecoins, pegged to fiat currencies like the US dollar, serve as a bridge between traditional financial systems and blockchain technology. This innovation is particularly beneficial in regions with limited banking infrastructure.

Chris Newkirk, President of Commercial & Money Movement Solutions at Visa, emphasized, “Launching stablecoin payouts is about enabling truly universal access to money in minutes – not days – for anyone, anywhere in the world.” This reflects Visa’s commitment to improving financial inclusivity.

Impact on the Creator Economy

Visa’s 2025 Creator Economy Report highlights that faster access to payouts is crucial for creators. With 57% of surveyed creators prioritizing instant fund access, the Visa stablecoin initiative aligns with these needs. It’s estimated that the creator and gig economy will reach a staggering $500 billion by 2027, underscoring the importance of efficient digital payout solutions.

By leveraging stablecoins, Visa aims to empower creators, businesses, and freelancers with faster, more flexible money movement. This is especially impactful for those building digital brands, expanding into global markets, or working across borders.

The Future of Financial Transactions

This pilot program represents just the beginning of what could be a broader adoption of stablecoins in mainstream financial operations. As traditional financial entities like Visa embrace blockchain innovations, the potential for improved financial systems becomes increasingly apparent.

Overall, the Visa stablecoin initiative is a powerful step towards modernizing the financial landscape, offering seamless and immediate access to funds, thus supporting the burgeoning digital economy.

The post Visa Stablecoin Revolution: 5 Amazing Benefits for Creator Payouts appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Unveiling the New Bitcoin Rewards Card

The Fold Bitcoin Rewards Card offers up to 3.5% back on purchases, with an immediate 2% paid in Bitcoin. Cardholders can also enjoy an additional 1.5% back when they pay off purchases using Fold’s checking account. Furthermore, rewards of up to 10% are available at participating retailers like Amazon, Target, and Starbucks.

This innovative rewards system is entirely Bitcoin-based, eliminating the need for token lock-ins or complex redemption processes. As Will Reeves, CEO of Fold, explains, “Our credit card offers clear and compelling value and makes Bitcoin easily accessible to everyone.”

Benefits of Visa and Stripe’s Involvement

Visa’s extensive reach and Stripe’s technological prowess are key components in the success of this Bitcoin Rewards Card. Stripe’s head of money management, Sateesh Kumar Srinivasan, highlighted the partnership as a testament to Stripe’s capability to assist firms in launching financial products without the burden of directly managing them. Visa’s Head of Crypto, Cuy Sheffield, emphasized the seamless blend of Visa’s scale with the Bitcoin rewards system.

The introduction of this card builds on Fold’s existing ecosystem, which includes a Bitcoin debit card and a gift card program. Fold’s proprietary technology simplifies the process of buying and gifting Bitcoin, making it as straightforward as purchasing a traditional gift card.

The Future of Stablecoin Payments

As the market for stablecoins continues to grow, both Visa and Stripe are making strategic moves to integrate these digital assets into their payment systems. Visa has already processed over $200 million in stablecoin settlements and is actively working with banks and fintech firms to enhance token issuance capabilities.

In parallel, Stripe has launched Tempo, a Layer 1 blockchain developed with Paradigm, designed to handle over 100,000 transactions per second. This ambitious project aims to integrate stablecoins directly into Stripe’s payment infrastructure, reducing friction for institutional clients.

With these initiatives, Visa and Stripe are positioning themselves at the forefront of the crypto payments revolution, signaling a future where traditional and digital currencies coexist seamlessly.

In summary, the new Bitcoin Rewards Card by Visa and Stripe is more than just a financial product; it is a step towards making Bitcoin a part of everyday financial transactions, accessible to all consumers.

The post Bitcoin Rewards Card: 5 Amazing Benefits from Visa and Stripe Partnership appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Visa has joined forces with platforms such as Bridge and Baanx to facilitate these business cards. Bridge, a Stripe subsidiary, offers a single application programming interface (API) that enables fintech developers to issue Visa cards linked to stablecoins in various countries, including Argentina, Colombia, and Mexico. Conversely, Baanx concentrates on self-custodial wallets, allowing users to spend USDC directly from their crypto wallets via smart contracts for instantaneous currency conversion.

These efforts signify a significant stride toward integrating digital currencies into routine financial activities, connecting decentralized assets with conventional payment systems. Stablecoins are experiencing considerable adoption growth, with their average circulating supply increasing by about 28% year-over-year, according to the World Economic Forum. In 2024, their total transfer volume reached a staggering $27.6 trillion, surpassing the combined transaction volume of Visa and Mastercard in 2024.

Corporate cards backed by stablecoins connect to digital wallets holding stablecoins, not typical bank accounts or credit lines. This allows for instant currency conversion at the point of purchase. Compared to standard corporate cards, which rely on centralized banking systems, stablecoin cards offer faster transaction processing, lower fees, and improved access, especially in areas with limited banking services.

These cards represent a significant progression in blending cryptocurrency functionality with traditional financial systems. The future of stablecoin-backed corporate cards promises substantial growth, driven by technological advancements, wider usage, and strategic collaborations. As these trends continue to unfold, stablecoin-backed corporate cards are set to become crucial tools in the global financial landscape, providing businesses with more flexibility, security, and inclusivity in their financial operations.

The post Understanding the Mechanism and Potential of Stablecoin-Backed Business Cards appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

According to a statement, Binance will engage in dialogue with legislators and regulators in order to contribute to research and perhaps change the design of crypto law. Binance joins the Chamber alongside Visa and Deloitte and two crypto behemoths: Circle and OKCoin. Since the year 2020, the U.S. branch of the exchange, Binance US, has been represented on the top decision-making body: the executive committee.

After a history of run-ins with financial authorities, Binance has taken significant steps in the last year to strengthen its regulatory competence. This latest development is another landmark in that direction.

Binance’s VP of public affairs, Joanne Kubba, was quoted as saying,

As an organization at the crux of the industry’s rapid growth and complex regulatory environment, working hand in glove with policymakers, regulatory bodies, and industry groups like the Chamber are imperative to our mutual mission of fostering the sustainable development of sensible regulations for cryptocurrency and blockchain which ensures protections for users.

The Newest Participant

Blain Rethmeier, the Chamber of Digital Commerce’s vice president of public relations, says that Binance has established itself as a pioneer in this growing ecosystem.

Binance’s internal influence on the cryptocurrency sector is likewise expanding rapidly. To help soften the pain of the demise of FTX, the corporation has set aside $1 billion as part of a “industry recovery effort” fund to invest in cryptocurrency companies.

Although major outflows were recorded last week, there is still considerable concern about the exchange’s financial soundness. This week also saw a probe by Reuters on Binance’s opacity with its financials.

The post Binance Becomes a Part of the Governing Body of American Lobbying Organization appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

We see automatic payments as a core functionality that the existing blockchain infrastructure lacks,

the developers wrote.

To solve this problem, a smart contract is created to sit between the user’s account and the contract’s account, enabling the user to set up a self-custodial wallet that can make regular payments automatically and without their intervention.

Visa said this would pave the way for recurring payments to be settled exclusively through blockchain networks. It was proposed that the solution be implemented on Ethereum’s layer 2 network, StarkNet.

The two main categories of accounts now in use on the Ethereum network are Contract Accounts (CA), which are actually smart contracts, and Externally Owned Accounts (EOA), which are managed by private keys.

When it comes to initiating business, EOAs have more freedom than CAs do. However, Visa claims that a self-custodial wallet capable of making periodic, repeating payments may be built with the help of Account Abstraction. It is because a smart contract can be made to start transactions on behalf of an EOA.

As a proposal, Account Abstraction (AA) seeks to unify Ethereum user accounts and smart contracts into a unified ledger. It is made possible by empowering users to define their own set of rules governing the legality of specific transactions. The development of “delegable accounts” that enable the use of smart contracts to automate financial transactions is one application of AA.

Visa said that a user with a delegable account could hand over payment-initiation authority to a third-party smart contract (or “auto payment contract”) with the user’s prior approval. What might happen in theory is as follows: The user’s allow list is updated to include the auto payment contract’s address after the user visits the merchant’s website and agrees to allow for auto payments.

If the payment method is on the user’s allow list, the merchant can initiate a transaction by using the charge function of the auto-payment contract, and the user’s account will process the payment. The Visa team used the Argent wallet to implement the proof-of-concept.

Visa had not announced any intentions to integrate the technology into its current services as of Tuesday.

The post Visa Suggests Payment Automation on StarkNet appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

According to FTX, states in Latin America will be a primary target of the first growth, with Europe and Asia to follow.

FTX, a cryptocurrency exchange, announced that it would now provide Visa debit card services in over 40 more countries. Though it did not name any particular states, the company did say that many of them are in Latin America.

Earlier this year, FTX introduced the Visa debit card in the United States, allowing customers instant access to their crypto holdings at merchants who accept the card. In light of this success, FTX has decided to expand internationally by forming a long-term collaboration with Visa to issue cards in a considerably larger number of countries.

Then, FTX intends to launch campaigns in Europe and Asia. The launch in Europe is expected to take place before the end of 2022, while releases in other regions, presumably including Asia, are scheduled to begin in early 2023.

The exchange’s Visa debit card functions similarly to a bank debit card, allowing cardholders to make purchases at any of the more than 80 million merchants worldwide that accept Visa. When using an FTX card, cardholders won’t have to worry about paying any hidden fees or commissions.

Bitcoin, Ethereum, Dogecoin, Solana, and the stablecoin Tether are just some of the hundreds of cryptocurrencies that may be traded and held in custody on the FTX platform.

Visa’s Head of Crypto, Cuy Sheffield, stated in the announcement that digital currencies would have a lasting influence on the future of financial services and money flow. They’re thrilled to work with top crypto exchanges like FTX to improve users’ access and experience with cryptocurrency.

Coinbase, Binance, and Crypto.com are just a few competitors that have begun selling crypto debit card services, and FTX is extending its program too.

The post FTX Aims Its Visa Debit Card at Latin America appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Visa Inc is the world’s largest payment network that has launched an exclusive VIP crypto credit card known as ‘bitcoin block’. It is known as Bitrcoinblack in the  United Arab Emirates, a press release stated on July 3.

Furthermore, as per the recent press release, the card was first launched in 202. It is available by inviting only 10,000 members around the globe. It allows teh users to convert their Bitcoin (BTC) as well as other major cryptos into spendable cash. Also, invitations are requestable via the bitcoin black website.

Reportedly, the card is getting security by the holder’s cryptocurrency. Also, it offers premium benefits such as a no-spend limit in any place in the world where Visa is acceptable. As well as rewards of up to 10% back in exclusive SPND tokens.

Visa Offering Easy access to luxury goods via crypto

This Visa’s exclusive card allows its owners to spend rewards on various luxury items. The user can spend th in bitcoinblack’s Haute Living Luxury Marketplace. It is “a curate-able online boutique that includes luxury watches, purses, cars, charter jet deals, private mansion access and more. It will be launching soon.

Read More: El Salvador Buying the Dip: Bitcoin at $19K to Reap Drastic Benefits

The post Visa launches exclusive ‘no-limit’ Bitcoin card in UAE appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

In a recent report, global payment services giant VISA has said that cards linked to cryptocurrencies have been used to process payments worth over $1 billion in 2021. Earlier, the payment services provider had launched a Bitcoin rewards credit card in partnership with BlockFi. 

Speaking to Reuters, Visa’s CFO,  Vasant Prabhu confirmed that over “$1 billion worth of cryptocurrency was spent by consumers globally on goods and services through their crypto-linked cards in the first six months of the year.”

Despite the high market volatility and the extreme ups and downs in the prices of top cryptocurrencies this year, there has been an increase in the number of users of crypto-linked cards. 

Both top payment services giants Visa and Master have products that are linked to cryptocurrencies. Raj Dhamodharan, head of Digital Asset Products and Digital Partnerships at Mastercard, said:

Our philosophy on cryptocurrencies is straightforward: It’s about choice. Mastercard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value – traditional or crypto – however, they want. It should be your choice, it’s your money.

Earlier in the year, Visa forged a strategic partnership with top cryptocurrency exchange Coinbase. This week, Visa along with BlockFi had announced a  2% Bitcoin Rewards Credit Card. 400,000 users in the US are expected to benefit from the bitcoin rewards.

The post Global Payment Services Giant VISA Says Global Crypto Linked Card Payments Over $1Billion In 2021 appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

However, not only the two largest cryptocurrencies have seen a price increase. Binance Coin (BNB), the third-largest crypto, is up by over 10% in the past 24 hours. In addition, it is up by almost 40% in the past 7 days, per CoinMarketCap.com data. The fifth and the sixth-ranked cryptos Polkadot (DOT) and Ripple’s XRP increased in price by over 31% and 50% in the past 7 days, respectively.

Increasing cryptocurrency adoption could be the reason why Bitcoin and altcoins post gains. Two of the world’s leading investment banks, Goldman Sachs and Morgan Stanley, started offering access to digital assets for their wealth management clients. Payment networks Visa and PayPal have introduced crypto payment support. Moreover, automaker Tesla started accepting Bitcoin for payments in the U.S.

The post The crypto market cap hit $2 trillion on Monday appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.