Eliminating archaic payments systems with stablecoins
Opinion by: Simon McLoughlin, CEO at Uphold2021 witnessed a fintech investment boom, with startups raising approximately $229 billion globally. Higher interest rates and tighter economic circumstances have since tempered that exuberance, but funds continue to pile into the sector. Indeed, the global fintech sector is expected to see a rebound in investment activity throughout 2025.Why are investors continuing to bet big on this sector? The answer is simple. The current international finance system is in urgent need of modernization. Built for a pre-internet age, it relies on outdated processes, chains of intermediaries and a patchwork of non-standard regulations. An aging and expensive systemTake SWIFT as a case in point. Founded in 1973, SWIFT remains the backbone of cross-border payments. SWIFT is nothing more than a messaging system that enables banks to communicate around transactions. It was never designed to manage funds or process transactions. As a result, a “make do and mend” approach has grown around international payments, characterized by a proliferation of intermediaries and local payment rails.This antiquated, fragmented system creates significant friction in cross-border transactions, leading to delays, high costs and limited choice for individuals and businesses outside major economic blocs. Fees for international payments currently average 1.5% for businesses and all the way up to 6.3% for remittances. Payments can take up to several days to reach recipients.This system hinders global commerce and exacerbates financial exclusion, particularly in the global south, where volatile local currencies and limited access to traditional banking services are common.Many of these friction points could be resolved by stablecoins, making transferring money across borders as easy as sending an email. Indeed, the blockchain-based currency has the potential to revolutionize global finance. Democratizing access to fiat currenciesFor people in countries with volatile economies or unstable governments, stablecoins offer a safe haven for savings. Stablecoins pegged 1:1 to a fiat currency such as the US dollar provide consumers in these regions with a way to escape their national financial system with a trustworthy and transparent alternative that protects them from inflation and currency devaluation. This is particularly important in the global south, where economic instability can erode the value of hard-earned income and savings. According to UBS, consumers in developing countries are also attracted to stablecoins due to the lower risk of government interference with the currency. The wealth management firm believes stablecoins are increasingly seen as “digital dollars” and used for everything from savings to transactions to remittances in these regions. Empowering small businesses and freelancersStablecoins can significantly reduce the costs and complexities associated with international payments, enabling small businesses and freelancers to participate in the global marketplace on a more level playing field. This opens up new opportunities for entrepreneurship and economic growth in developing countries.Recent: Dubai recognizes USDC, EURC as first stablecoins under token regimeIn our current payment system, physical money does not cross borders — only information does. A payroll company looking to pay a freelancer in a third country cannot do so directly and must use systems like Stripe, which uses virtual bank accounts to get around the problem.With stablecoins, payroll companies can pay in any currency to any currency, using crypto on- and off-ramps to facilitate the payment. The business pays in dollars, for example, which is on-ramped to Tether’s USDt (USDT) and sent to the freelancer’s digital wallet, where they can either keep it or off-ramp it to their local currency. Stablecoins will prove to be, and are, a vital tool in helping businesses access global talent and fill their skills gaps. Facilitating financial inclusionThrough offering an alternative to traditional banking systems, stablecoins also provide financial services to the unbanked and underbanked populations. This can be particularly transformative in regions with limited access to traditional financial infrastructure or in countries like Argentina, where there is low confidence in the national monetary system. According to the Bank for International Settlements, stablecoins can enable a wide range of payments and provide a gateway to other financial services, replicating the role of transaction accounts as a stepping stone to broader financial inclusion. Given their ability to provide access to financial services anywhere with an internet connection, stablecoins are seeing explosive growth in emerging markets. Use cases are expanding rapidly across Africa, Latin America, and parts of developing Asia, where they are being used to hedge against inflation, for remittances and cross-border payments, and as a simpler alternative to US dollar banking. This growth trajectory can be expected to continue in the years ahead. A shot in the arm for global businessStablecoins are rapidly rising in popularity and already total more than $233 billion in market capitalization, while transaction volumes in 2024 reached $15.6 trillion, surpassing those of Visa. In an increasingly uncertain world, they offer a stable, low-cost and rapid means of transferring money across borders, helping to increase financial inclusion and smooth access to global talent for employers. Stablecoins are a digital-first financial tool for a digital-first world and are ideally suited to replacing the current archaic international payments system. Opinion by: Simon McLoughlin, CEO at UpholdThis article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Swyftx acquires New Zealand’s Easy Crypto, citing Trump tailwind
Australian crypto broker Swyftx has announced its acquisition of New Zealand-based crypto exchange Easy Crypto. This move comes as a result of positive changes in crypto policy in the United States, with Swyftx CEO Jason Titman citing President Trump’s recent messaging as a “tailwind” for the deal.
According to Titman, the acquisition was already in the works before Trump’s election, but the current climate of “sensible regulation” in the US has made it an even more attractive opportunity. He believes that this shift in policy will bring more liquidity to the market and put pressure on other governments to follow suit.
Titman also notes that the crypto industry has seen a lack of mergers and acquisitions in recent years due to regulatory uncertainty. However, with the current administration showing more support for the industry, he expects to see an increase in dealmaking in the coming months.
The acquisition will see Swyftx and Easy Crypto continue to operate as separate platforms, with plans for integration in the future. The combined workforce of the two companies will be just under 200 employees, and they will be based in Brisbane, Australia.
Easy Crypto CEO Janine Grainger sees the acquisition as a natural fit and believes it will create a strong regional player in the crypto market. She also notes that there is increasing interest in leveraging the industry to drive economic growth in New Zealand, where there is strong support for crypto.
The acquisition comes at a time when the crypto market is maturing, with a trend towards consolidation and the emergence of strong regional and global players. In Australia, a recent survey estimated that 3.9 million people currently own cryptocurrency, while in New Zealand, almost 50% of the population either own or are considering investing in crypto.
With the current support for the industry in both countries, Grainger believes that the region is poised for growth and that increasing levels of regulation will help to drive trust in the market. As the industry continues to evolve and mature, we can expect to see more mergers and acquisitions in the future.
Michael Saylor’s Strategy plans to offer 5M shares to buy more Bitcoin
Business intelligence firm and Bitcoin investor Strategy plans to offer 5 million shares of the company’s Series A Perpetual Strife Preferred Stock and use the proceeds to purchase more Bitcoin. In an announcement, the company said it intends to use the proceeds for general purposes. This includes its working capital and “acquisition of Bitcoin.” However, the company said this is still subject to market and other conditions. According to Strategy, the stock will accumulate cumulative dividends at 10% annually. The company also noted that stockholders would receive dividends on the stock quarterly, starting on June 30, 2025. Strategy said it could buy back all of this stock for cash if the total number of shares left in the market drops below 25% of the issued amount. Strategy makes smallest Bitcoin purchase on recordThe announcement follows the company’s smallest known Bitcoin purchase. On March 17, the company announced that it purchased 130 Bitcoin (BTC) for $10.7 million in cash, at an average price of about $82,981 per BTC.The most recent BTC buy is the company’s smallest amount since its first Bitcoin investment in August 2020. Before the latest purchase, the least amount of BTC bought by Strategy was a 169-Bitcoin purchase made in August 2024. Strategy’s smallest BTC purchase comes amid sentiments that the Bitcoin bull cycle is over. On March 18, CryptoQuant founder and CEO Ki Young Ju said the bull cycle is over and that he’s expecting 6 to 12 months of bearish or sideways price action. Related: Strategy’s Bitcoin stash still up over $7B despite market downturnStrategy’s Bitcoin holdings near 500,000Since its first Bitcoin investment, the company and its subsidiaries have accumulated 499,226 BTC at an aggregate purchase price of $33.1 billion. The coins were bought at an average price of $66,360 per BTC, including fees and expenses.If the company buys 774 BTC (about $64 million), its total holdings will reach 500,000. This would be 2.38% of the entire Bitcoin supply. The company remains the largest corporate Bitcoin holder in the world and is still up by over $8 billion on its BTC investments despite the recent market downturn. At the time of writing, Strategy’s BTC holdings are worth about $41.1 billion. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Coinbase stock may rally to $310 on Trump-led crypto policies
Coinbase exchange’s stock price has received an optimistic price prediction from a Bernstein analyst, citing improving crypto regulatory clarity in the world’s largest economy.Gautam Chhugani, an analyst at global asset management firm Bernstein, initiated coverage of Nasdaq-listed Coinbase (COIN) stock with an outperform rating and a price target of over $310.The analyst expects improving mainstream cryptocurrency adoption, driven by US President Donald Trump’s administration, which intends to make crypto policy a national priority and make the US a global hub for blockchain innovation, according to a Bernstein research note seen by Tipranks. If Coinbase shares manage to rise to $310, it would mean an over 64% rally from the current $188 mark, Google Finance data shows.COIN/USD, all-time chart. Source: Google FinanceThe bullish price prediction comes over a week after Trump hosted the first White House Crypto Summit on March 7, shortly before he signed an executive order that outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases, Cointelegraph reported.Related: Bitcoin beats global assets post-Trump election, despite BTC correctionCoinbase stock may surge on improving crypto regulatory clarity in the USCoinbase is set to benefit from crypto’s “ascendancy to the US financial mainstream” amid improving regulations, mainly due to the firm offering a one-stop platform for numerous crypto activities, wrote the research note, adding:“COIN is described as a crypto exchange, but it is actually what a universal Bank would look like in the world of blockchain-based financial services.”“COIN offers an exchange, broker/dealer, institutional prime desk, stablecoin banking, crypto payments, custodian bank, software and blockchain ecosystem services, all combined into a full stack ‘Amazon’ of crypto financial services,” added the report.Related: FDIC resists transparency on Operation Chokepoint 2.0 — Coinbase CLOCrypto regulation is heading in a positive direction, with some analysts seeing the US Bitcoin reserve plan as the first “real step” for Bitcoin’s integration into the global financial system.“The US has taken its first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system,” Joe Burnett, head of market research at Unchained, told Cointelegraph.While Trump has previously highlighted his intentions to bolster crypto innovation in the US, issuing regulatory frameworks takes time and setting the “right regulatory tone” will be crucial for the administration, according to Anastasija Plotnikova, co-founder and CEO of Fideum — a regulatory and blockchain infrastructure firm focused on institutions.Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8
Xapo Bank launches Bitcoin-backed USD loans targeting hodlers
Xapo Bank, a global cryptocurrency-friendly bank headquartered in Gibraltar, is betting on crypto lending revival by launching Bitcoin-backed US dollar loans.Qualifying Xapo Bank clients can now access Bitcoin (BTC) loans of up to $1 million, the firm said in an announcement shared with Cointelegraph on March 18.The new lending product is designed for long-term Bitcoin hodlers who want to access cash while keeping their BTC, Xapo Bank CEO Seamus Rocca told Cointelegraph.“Unlike traditional assets, Bitcoin is an ideal form of collateral — it is borderless, highly liquid, available 24/7, and easily divisible, making it uniquely suited for lending,” Rocca said.No collateral re-usageA key distinction of Xapo’s Bitcoin loan product is that the bank does not rehypothecate the loan collateral by users, meaning that its lending mechanism does not involve the re-usage of BTC assets by clients.Instead, the Bitcoin collateral is stored in Xapo’s BTC vault using institutional multiparty computation (MPC) custody.Working of a crypto lending platform.Eligible Xapo clients can choose repayment schedules of 30, 90, 180 or 365 days, with no penalties for early repayment, the firm said.Who is eligible?Xapo’s new Bitcoin lending offering will be available to pre-approved members based on several criteria.The key criteria for eligibility are the amount of Bitcoin holdings and the period of holdings, as Xapo specifically targets long-term BTC holders with a long-term investment strategy.According to the bank, the offering will be available to global investors in regions like Europe and Asia, excluding residents of the United States.The list of jurisdictions supported by Xapo Bank. Source: Xapo BankXapo Bank is regulated by the Gibraltar Financial Services Commission under the Financial Services Act 2019. In 2024, the bank successfully passported its banking license in the United Kingdom, granting its Xapo Bank App full access to the country.While Xapo’s lending is offered across the European Union, crypto lending is not covered by local regulations like the Markets in Crypto-Assets framework.A revival following numerous collapsesXapo Bank’s new BTC loan launch comes a few years after the crypto lending industry suffered a major crisis in 2022.The crisis came amid the historic Terra crash and a subsequent bear market that triggered the collapses of major lending providers like Celsius and BlockFi.“The collapse of Celsius, BlockFi, and other centralized lenders significantly eroded trust in the crypto lending space,” Xapo Bank CEO told Cointelegraph.An example of the Bitcoin lending process on the Xapo Bank App. Source: Xapo Bank“Borrowers today exercise greater caution, prioritizing platforms with a proven track record in Bitcoin custody and those that offer secure, transparent solutions — especially ones that do not engage in rehypothecation,” Rocca said, adding:“At the same time, demand for Bitcoin-backed loans is on the rise, particularly among high-net-worth individuals and institutional investors who seek liquidity without selling their Bitcoin holdings.”In addition to removing asset rehypothecation and MPC security, Xapo offers risk management tools and proactive protection to prevent automatic liquidations.Related: Bitwise makes first institutional DeFi allocation“In the event of a Bitcoin price drop, customers receive instant notifications, allowing them to either top up their collateral or make partial repayments to maintain their loan status,” Rocca noted.Xapo is not the only firm that has been working to introduce lending products in 2025. In early March, Bitcoin developer Blockstream secured a multibillion-dollar investment to launch three new institutional funds, with two of them offering BTC lending.Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest, March 9 – 15
Dogecoin millionaires are buying dips as DOGE price eyes 30% rally
Dogecoin (DOGE) price has crashed by over 70% after hitting $0.48 in December 2024. Interestingly, the memecoin’s richest holders have accumulated during the price declines, indicating their confidence in a potential rebound in the coming weeks.Dogecoin onchain metrics hint at price rebound Onchain data from Santiment shows that wallets holding at least 1 million DOGE have increased by 1.24% since early February, despite declining prices. Meanwhile, active addresses have surged to a four-month high, suggesting rising network activity.Dogecoin addresses holding at least a million DOGE vs. price. Source: SantimentTypically, when large holders accumulate an asset while prices decline, it signals that they see undervaluation and are positioning for a future rebound. An increase in active addresses indicates higher engagement on the network—possibly reflecting growing retail interest.If this surge in user activity stems from real adoption rather than speculative trading or panic selling, it could provide the onchain foundation needed for a price recovery. A similar pattern was observed during the DOGE’s 200%-plus price rally in November.DOGE is oversold, raising chances of 30% rally Dogecoin is currently testing a support confluence comprising a multi-year ascending trendline support, a level that has historically triggered strong bullish reversals and the 200-week exponential moving average (200-week EMA) at around $0.13.DOGE/USD weekly price chart. Source: TradingViewAdditionally, the Stochastic RSI, an indicator measuring momentum and overbought/oversold conditions, shows a bullish cross in the oversold region (below the 0.30 reading).This signal typically indicates that selling pressure is weakening. In DOGE’s case, this crossover at low levels has preceded strong price recoveries, notably a 400% price rally in 2024 and 88% gains in 2023.Related: Crypto market is seeing a ‘tactical retreat, not a reversal’ — Binance CEOThe first major resistance level lies near $0.22, aligning with DOGE’s 50-week exponential moving average (50-week EMA; the red wave) and the March-April 2024 resistance area, as shown below.DOGE/USD weekly price chart. Source: TradingViewHowever, if DOGE fails to hold the support confluence, the bullish setup could be invalidated, leading to a deeper correction toward $0.12, which served as support in the March-May 2024 period.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin stalls under $85K— Key BTC price levels to watch ahead of FOMC
Bitcoin’s (BTC) price failed another attempt at breaking above resistance at $85,000 on March 17. Since March 12, BTC price formed daily candle highs between $84,000 and $85,200, but has been unable to close above $84,600.Bitcoin 1-hour chart. Source: Cointelegraph/TradingViewBitcoin remains in “no man’s land” on the lower time frame (LTF) of the 1-hour chart. This term in trading markets is defined as a price range where movements are characterized by uncertainty, significant risk, and dynamic tension due to external events and conflicting market sentiment.With the Federal Open Market Committee (FOMC) meeting set to take place on March 18-19, markets could see volatile price swings toward key BTC price levels over the next few days. The critical announcement on the interest rate will be made on March 19 at 2 pm ET.99% chance interest rates won’t changeAccording to CME’s FedWatch tool, there is a 99% chance that the current interest rates will remain between 4.25% and 4.50%, leaving just a 1% probability of a 0.25% rate cut. CME’s FedWatchtool interest rate expectations. Source: CME GroupHowever, a common market belief is that any bearish price action from unchanged interest rates is already priced in. Related: Bitcoin price fails to go parabolic as the US Dollar Index (DXY) falls — Why?Therefore, the market is focused on Jerome Powell, the US Fed chair’s speech during the FOMC speech. With respect to the recent data, Powell’s stance is likely to be hawkish. The assessment is based on the following points:Consumer Price Index (CPI) remains at 2.8%, which is still above the Fed’s 2% primary target and the Personal Consumption Expenditures (PCE) price index stood at 2.5%-2.6%. While CPI came in lower than expected last week, it does not encourage immediate rate cuts.Unemployment data remains low at 4.1%, with an annual GDP growth of 2.3% in Q4 2024, indicating the economy does not need immediate stimulus.Meanwhile, Polymarket now says there’s a 100% chance that the US Federal Reserve will conclude quantitative tightening (QT) by April 30, which would boost the odds of a rate cut as early as this summer. Key Bitcoin price levels to watchBitcoin must flip the $85,000 resistance level into support to target higher highs at $90,000. For this to happen, BTC/USD must first regain its position above the 200-day exponential moving average (orange line) on the 1-day chart. BTC price dropped below the 200-day EMA on March 9 for the first time since August 2024.Bitcoin 1-day chart. Source: Cointelegraph/TradingViewOne positive catalyst for the bulls could be renewed demand from spot Bitcoin ETFs. On March 17, Bitcoin ETFs registered $274 million in inflows, the largest since Feb. 4.The bears, meanwhile, will attempt to keep $85,000 resistance in place, increasing the likelihood of new lows under $78,000. The immediate target below previous range lows lies at $74,000, i.e., the previous all-time high from early 2024. Bitcoin 1-day chart. Source: Cointelegraph/TradingViewBelow $74,000, the next key area of interest remains between $70,530 and $66,810, with a daily order block. Reaching $69,272 would be a retest of the US election day price, erasing all of the “Trump pump” gains. SuperBitcoinBro, an anonymous BTC analyst, highlights that the “worst case” scenario for Bitcoin lies at $71,300 and $73,800, which can be a potential support in every timeframe from daily to quarterly. Bitcoin 1-day chart analysis by Nebraskangooner. Source: X.comSimilarly, Nebraskangooner, another popular Bitcoin analyst, says that the FOMC is a wildcard, explaining that BTC must reclaim $86,250 to confirm the bullish scenario on the lower time frame. Related: ‘Bitcoin bull cycle is over,’ CryptoQuant CEO warns, citing onchain metricsHowever, as illustrated in the charts, he expects a possible retest near the $70,000 level over the next few weeks.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin beats global assets post-Trump election, despite BTC correction
Bitcoin managed to outperform the other major global assets, such as the stock market, equities, treasuries and precious metals, despite the recent crypto market correction coinciding with the two-month debt suspension period in the United States.Bitcoin’s (BTC) price is currently down 23% from its all-time high of over $109,000 recorded on Jan. 20, on the day of US President Donald Trump’s inauguration, Cointelegraph Markets Pro data shows.Despite the recent decline, Bitcoin still outperformed all major global market segments, including the stock market, equities, US treasuries, real estate and precious metals, according to Bloomberg data shared by Thomas Fahrer, the co-founder of Apollo Sats.BTC/USD, 1-year chart. Source: Cointelegraph“Even with the pull back, Bitcoin still outperforming every other asset post election,” wrote Fahrer in a March 18 X post.Asset performance post-Trump administration takeover. Source: Thomas FahrerDespite concerns over the premature arrival of the bear market cycle, Bitcoin’s retracement to $76,000 remains part of an organic “correction within a bull market,” according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.“We are still in a correction within a bull market: Stocks and crypto have realized and are pricing in a period of tariff uncertainty and fiscal cuts, no Fed put. Recession fears are popping up,” the analyst told Cointelegraph.Related: Bitcoin experiencing ‘shakeout,’ not end of 4-year cycle: AnalystsBitcoin ETFs log biggest daily inflows since FebruaryThe US spot Bitcoin exchange-traded funds (ETFs) are starting to see positive net daily inflows, which may bring more upside momentum for the world’s first cryptocurrency. Spot Bitcoin ETF net inflows. Source: Sosovalue The US Bitcoin ETFs recorded over $274 million worth of cumulative net inflows on March 17, marking the highest day of investments since Feb. 4, when Bitcoin was trading above $98,652, Sosovalue data shows.ETF investments played a major role in Bitcoin’s 2024 rally, contributing approximately 75% of new investment as Bitcoin recaptured the $50,000 mark on Feb. 15.Related: Rising $219B stablecoin supply signals mid-bull cycle, not market topWhile Bitcoin may see more downside volatility due to global trade war concerns, it is unlikely to see a significant decline below the current levels, according to Gracy Chen, CEO of Bitget.Chen told Cointelegraph:“I don’t see BTC falling below 70k, possibly $73k – $78k which is a solid time to enter for any buyers on the fence. In the next 1-2 years, BTC at $200k isn’t as far-fetched as most would think.”Other industry leaders are also optimistic about Bitcoin’s price trajectory for the rest of 2025, with price predictions ranging from $160,000 to above $180,000.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1