Visa

From Bitcoin's meteoric rise, now surpassing Visa in transaction volume, to Binance's bold prediction about the demise of stablecoins in Europe, the news has been as varied as it has been impactful. Citigroup has also made a splashy entry into the crypto world, while the Ethereum ecosystem faces turbulence with the rejection of its Shanghai upgrade. And the FTX case, nearing its resolution, marks a pivotal moment for millions of investors. Dive with us into this weekly roundup to stay informed about the significant events of the past week.

Several reports on the performance of dollar-backed digital currencies suggest that crypto wallets containing stablecoins will eventually replace credit cards. The appetite for dollar-backed stablecoins in payments is increasingly surprising, and could even pose a threat to the business model of traditional payment companies such as Visa, PayPal and MasterCard. What do traditional payment companies have to say about this silent competitor?