DeFi News Official TheBitTimes.com

On November 6, 2023, Oasys – a game-optimized blockchain – announced a strategic partnership with Singularity, a cross-chain payment solution, to offer users a seamless payment experience across its ecosystem . The partnership with Singularity will enable the creation of more and more games by enhancing the Oasys ecosystem ’s infrastructure by improving cross-chain asset transfers, non-fungible token (NFT) purchases, as well as other payment s, as per the latest information shared with Finbold. With Singularity’s integrated payment solution, users will no longer have to manually swap or bridge tokens, or repeatedly switch networks to facilitate payments across the Oasys Verses. Instead, they will now be able to make purchases on any Verse using tokens from any Verse – including the Oasys Hub-Layer.  The partnership is set to improve Oasys’ already-existing Hub-Layer (Layer1) and multiple Verse-Layers (Layer2) infrastructure and help eliminate the traditio...

FCF Pay’s X account finds itself in a state of suspension due to the rampant spread of misinformation regarding its supposed “partnership” with Honda, an alliance that has never materialized. Honda, the prominent automobile manufacturer, does not accept cryptocurrency payments directly. However, individuals can still employ cryptocurrencies like Bitcoin as a means to acquire a Honda vehicle through third-party intermediaries. In early October, various publications erroneously claimed that Honda had begun embracing cryptocurrency as a valid payment method. Contrary to these reports, a Honda spokesperson clarified to Cointelegraph, saying, “American Honda does not accept cryptocurrency as a form of payment. The recent reports suggesting a shift in this policy are inaccurate.” When queried further about their stance on cryptocurrency or any prospective plans for integrating crypto payments, Honda chose not to provide additional comments. Despite the unavai...

Despite the hype surrounding cryptocurrencies, few people are using the digital asset for its intended purpose — payments. Cryptocurrencies offer several advantages to traditional money, including lower costs, faster transfers, and decentralized systems that do not collapse at a single point of failure. Despite these benefits, many people don’t consider digital currencies practical for everyday use. Moreover, the currently available crypto debit card solutions often require tedious transfers and incur high fees, making the process unfeasible for everyday users. Leading crypto exchange Bybit wants to change that, promising to make using cryptocurrencies more convenient and rewarding for users. There are more and more companies accepting crypto currencies as a form of payment . While there has been some institutional interest, it hasn’t been enough for most businesses to start accepting digital currency transactions. As a result, it is difficult for a cryptocurrency user to make purch...

The lack of regulatory clarity is the biggest hurdle to the adoption of crypto-enabled payments, according to a new survey co-hosted by Ripple. The global payment s industry is bullish on the potential of crypto currencies and blockchain to enable faster and cheaper transactions, according to a new survey co-hosted by Ripple. Blockchain-based digital payment network Ripple and the Faster Payments Council (FPC) payment organization on March 2 issued a report devoted to the opportunities of crypto-enabled payments. Titled “Transforming the Way Money Moves,” the report provides insights on global crypto payment trends based on a survey sent to over 950 FPC subscribers, such as analysts and CEOs across 45 countries. The survey included a total of 281 respondents addressing 25 questions on topics of blockchain payments use cases and benefits, digital asset ownership and usage barriers. Fieldwork for the survey was conducted during the first half of 2022. According to survey results, nearl...

The Binance CEO claimed that algorithmic USD stablecoins may become more popular as well, although they “have risks.” The crypto industry will “probably” start using euro, yen, or Singapore dollar based stablecoins in the future, reducing its reliance on US dollar based stablecoins, according to a Feb. 14 statement on Twitter Spaces by Binance CEO Changpeng Zhao, also known as “CZ.” CZ gave the statement in answer to a question about the crypto industry using gold as a standard of value instead of the US Dollar. CZ agreed that it “makes sense” to use gold. However, “most people’s costs are still in fiat currencies.” For this reason, most people calculate their investment returns in dollars, which is why US Dollar backed stablecoins are “still important.” However, CZ argued that the US government’s recent actions against US dollar stablecoins will probably lead the global crypto industry to rely on other currencies such as the Euro, Yen, and Singapore Dollar to back stablecoins, as he ...