PayPal, Franklin Templeton, and oinbase-clarifies-indian-service-continuation-amid-confusion">oinbase">Coinbase made notable moves this week to further integrate cryptocurrencies into the mainstream finance world.
PayPal launched new fiat on-ramps and off-ramps for crypto purchases, allowing US users to seamlessly convert dollars to crypto and vice versa. This provides a key infrastructure piece as PayPal continues growing its crypto services.
Asset manager Franklin Templeton applied to launch a spot bitcoin ETF in the US. The ETF would custody bitcoin via oinbase">Coinbase and cash through BNY Mellon. Franklin Templeton joins major firms like BlackRock and Fidelity seeking crypto ETF approval.
Meanwhile oinbase">Coinbase announced plans to support Bitcoin’s Lightning Network. This should allow faster and cheaper BTC transactions for oinbase">Coinbase users. Lightning Network aims to solve scalability issues and has seen growing adoption.
On the tech side, Meta is developing an AI system more powerful than its current Llama model to compete with OpenAI’s GPT-4. The new system will be open source, allowing broad access to high-level AI capabilities.
Overall, traditional finance and tech are increasingly embracing crypto, despite market volatility. More accessibility and real-world usage could help further mainstream adoption.
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