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Argentina explores Bitcoin, stablecoins in Japan, and PayPal expands to Solana

The Hash Insider

During the final week of May, the Nasdaq Crypto Index (NCI) experienced a 1.8% decline. Bitcoin (BTC) saw its price drop 1.6%, while ether (ETH) recorded a 2.3% price correction. However, when considering the month of May in its entirety, the Nasdaq Crypto IndexTM (NCITM) concluded on a positive note with an increase of 19.8%, its eighth green month in the previous nine, partially offsetting the negative price action observed in April. 


 

Argentina aims to learn from El Salvador's Bitcoin success

The Argentine government is actively collaborating with El Salvador to gain insights from its Bitcoin adoption and broader cryptocurrency initiatives. According to an official statement from the National Securities Commission (CNV) of Argentina, representatives met with El Salvador’s National Commission of Digital Assets (CNAD) to discuss strategies and regulations for integrating cryptocurrencies into their financial systems. This initiative represents a significant step towards broader Bitcoin adoption by sovereign governments.

 

Nomura to explore stablecoin issuance in Japan

Japanese banking giant Nomura, along with its digital asset division 'Laser Digital,' has reportedly teamed up with GMO Internet Group to explore the issuance, redemption, and circulation of stablecoins denominated in Japanese yen and US dollars. This partnership aims to facilitate the introduction of "stablecoin-as-a-service" products, providing companies with the necessary tools to issue their own stablecoins, underscoring how this has been one of the “killer use cases” for blockchain technology.

 

PayPal expands PYUSD to Solana, targets payment use cases

PYUSD, Paypal’s very own stablecoin, recently launched on Solana, expanding its reach beyond Ethereum to enhance adoption, reduce gas fees, and enable faster transactions. This strategic move is designed to elevate PYUSD from mere awareness to practical utility by leveraging innovative blockchain features that enhance payment security and efficiency, paving the way for its integration into everyday commercial use.

 

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