Avalanche Launches Crypto Payment Card as Network Attracts Big Institutions

Following an extended period of development and testing, the Avalanche Foundation has introduced a new payment solution in partnership with Rain—a crypto card provider integrated with Visa.

The Avalanche Foundation has teamed up with Rain, a crypto card provider and Visa partner, to launch a new payment solution.

Announced on Monday, April 21, during North America’s midday trading hours, the Avalanche Card will make it easier for users to spend digital assets around the world.

Designed for use in stores and online, the card will initially support AVAX, USDC, and USDT. It’s directly linked to a user’s self-custoddial wallet and won’t charge any conversion fees.

Avalanche has become a fast-growing ecosystem within Web3, with more than $1.23 billion currently locked across its decentralized applications and over $1.7 billion in circulating stablecoins.

Over the last couple of years, it has become a preferred network for institutions venturing into the tokenization of real-world assets.

Among the notable developments, BlackRock teamed up with Securitize to launch the BUIDL fund on Avalanche, leading to over half a billion dollars being tokenized. Meanwhile, Citibank has also been assessing Avalanche for various blockchain initiatives, especially those focused on the tokenization of real-world assets.

Coinbase Commences Trading of XRP Futures Contracts for Increased Institutional Adoption and Liquidity

As Coinbase continues to expand its offerings in the derivatives market, the San Francisco-based cryptocurrency exchange has quietly introduced XRP futures contracts for institutional investors.

These new futures contracts are now available in standard and "small" sizes, with the standard contracts being valued at 50 units of XRP, while the "small" contracts are priced at 5 units of XRP.

The introduction of XRP futures on Coinbase marks another step in the exchange’s efforts to cater to the evolving needs of institutional investors.

Earlier this year, Coinbase announced the expansion of its crypto futures offerings with the addition of futures contracts for ether (ETH) and bitcoin (BTC) in March.

This move was part of Coinbase’s broader strategy to capitalize on the growing demand for crypto derivatives among institutions.

Moreover, Coinbase unveiled plans to introduce futures contracts for solena (SOL) and polygon (MATIC) later in 2024.

The introduction of XRP futures comes at a time when the cryptocurrency market is showing signs of recovery after a turbulent period.

As the crypto industry navigates new levels of institutional participation and technological advancements, platforms like Coinbase are playing a crucial role in connecting traditional financial markets with the decentralized web3 ecosystem.

MANTRA DAO CEO Uncovers Plans for Massive Token Burning and Next Moves

The CEO of MANTRA DAO, Anish Agnohotri, has revealed ambitious plans for an upcoming massive token burn and teased the next big move for the decentralized finance protocol.

In a recent interview, Agnohotri discussed the upcoming burning event, which will see a significant portion of the total MANTRA tokens being destroyed, ultimately reducing the circulating supply.

This initiative is set to have a positive impact on the value of remaining tokens held by investors.

The interview took place as part of a series of AMAs with cryptocurrency and blockchain communities.

During the conversation, Agnohotri provided an update on MANTRA DAO’s progress and touched upon some of the key priorities for the protocol in the coming months.

One of the main focuses has been on expanding the reach of MANTRA DAO’s ecosystem and forging new partnerships to introduce the protocol to a wider audience.

Agnohotri highlighted the importance of collaboration in the crypto sphere and expressed his commitment to working closely with other protocols and institutions to achieve common goals.

The executive also shed light on the role of artificial intelligence (AI) in shaping the future of fintech and how MANTRA DAO is incorporating these technologies to enhance its offerings and provide users with advanced financial solutions.

Agnohotri also discussed the significance of community involvement in the development of blockchain protocols. He emphasized how feedback from users is crucial in guiding the direction of the protocol and ensuring it meets the evolving needs of its community members.

As MANTRA DAO continues its journey in the decentralized finance space, the protocol is poised for further innovation and expansion. With a focus on community engagement, technological advancements, and strategic partnerships, MANTRA DAO aims to cement its position as a leading DeFi protocol.

Pi Network Plans to Launch Its Own Cryptocurrency Payment Card

Popular cryptocurrency community network Pi Network is planning to launch its own crypto payment card.

The network, which is currently in its third stage of development, is set to introduce the card in partnership with existing crypto card providers.

According to reports, the new development was announced by the network’s co-founder, Dr. Chengdiao Fan.

During a recent interview, Fan revealed that the network is working on a new initiative to introduce an easily accessible cryptocurrency payment card.

This card will be used for making daily purchases at various merchants.

The crypto network is aiming to integrate with an existing crypto card provider, such as NChain or Rain, to facilitate the seamless issuance and use

News data source: kdj.com

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