Welcome to another new crypto news summary. All the important news and events within the world of cryptocurrency from last week are summarized for you below so that you are completely up to date again before you head into the weekend. Read on to find out!
PayPal launches its own stablecoin
This week, PayPal announced its intention to enter the world of stablecoins.
The company plans to do this through the PYUSD stablecoin. For this, it is working with the company Paxos. According to Paxos, the new stablecoin is an important turning point for the industry.
PayPals first stablecoin will be issued on the Ethereum (ETH)
blockchain and will soon be available to PayPal users in the United States. But unlike some existing crypto projects by traditional financial companies, PYUSD is not so heavily constrained by a closed system.
For instance, it is possible to simply move PYUSD to certain supported external wallets. This means you can store the coin itself and use it in Web3 applications. PYUSD competes with USDC and USDT.
Soon, the popular Venmo app will also support payments in PYUSD. This is not the first time Venmo has incorporated crypto capabilities into its services. It is already possible to pay with Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC)
Dutch crypto project shows potential with special offer
Arcomia (RCM) is a Dutch crypto project whose name is increasingly popping up in the world of crypto. As the project prepares for their official launch on 18 August, Arcomia's team has already built a strong community of more than 25,000 members and an impressive number of users.
Ahead of the launch, Arcomia is offering new users a unique opportunity. New users will get 6,000 tokens absolutely free if they sign up before 18 August.
Arcomia is basically similar to wildly popular games such as Roblox and Minecraft, but with its own twist. Think of an open world where players can own land and build unique things like theme parks, restaurants and more. What is special about Arcomia is that in this virtual world, every piece of land or item is considered an NFT, meaning they are rare and freely tradable on marketplaces like OpenSea.
Dogecoin gets lead role in popular animated series
The hype surrounding dogecoin (DOGE)
seemed to have calmed down a bit. However, that does not stop Dogecoin from entering pop culture. On 7 August 2023, the well-known 'memecoin' made an entrance into the well-known animated series Futurama.
On 7 August 2023, the Futurama episode 'How the West Was 1010001' aired on TV. In this episode, which was watched millions of times, the main characters went to the Wild West to mine not gold, but crypto. Upon arrival, the main characters found themselves in 'DOGE city', a city entirely dedicated to the coin.
For a currency like Dogecoin, an appearance on a huge TV programme is a big step. It could mark the beginning of a strong position within pop culture.