🚨 The Last 24 Hours Just Changed Everything – This Week in Web3 Payments (Mar, 3rd 2025)

👋 Welcome to PayFi Weekly, your go-to digest for the biggest moves in stablecoins, crypto payments, and digital finance, powered by Transak.

This week was already shaping up to be big - then yesterday happened. 😳

Just when we thought we had seen it all, the last 24 hours took things to a whole new level. Markets are buzzing, policymakers are making moves, and the lines between crypto and traditional finance have never been blurrier.

Let’s break it all down! 🚀💳

🔥 Top Stories of the Week

📢 Breaking: U.S. Creates a Strategic Crypto Reserve! 🇺🇸 For the first time, the U.S. government has officially backed crypto reserves, including XRP, Solana (SOL), and Cardano (ADA). More on this below ⬇️

⛽ Tron to Make USDT Stablecoin Transactions Free by Removing Gas Fees! 🤯 Tron is removing gas fees for USDT transactions, making stablecoin payments more cheaper and seamless. Will other networks follow? Read more

🏦 Spot Bitcoin ETFs See Institutions Coming Back in with $94.3M Inflows 📈 The inflows come amid a slight market recovery as BTC rebounds from its monthly low, over growing pro-crypto stance from the Trump administration. Spot bitcoin ETFs saw $94.3 million in inflows on Feb. 28, ending an eight-day outflow streak. Know more

🇺🇸 U.S. Strategic Crypto Reserve – A Game Changer for Digital Payments?

For the first time in history, the U.S. government has officially backed a Crypto Strategic Reserve, recognizing digital assets as part of national financial security.

🔍 What Happened?

• The Trump administration announced that the U.S. will hold Ripple (XRP), Solana (SOL), and Cardano (ADA) in its reserves.

• The move is seen as an effort to position the U.S. as a leader in digital assets and hedge against economic shifts.

• This comes amid growing institutional adoption of crypto and increasing calls for clearer regulations.

💡 Why Is This Important?

• Legitimizes Crypto in Finance: The U.S. is the first major economy to formally recognize crypto reserves, giving legitimacy to digital assets in finance.

• Could Impact Stablecoin Regulation: If the U.S. is holding crypto, will they push for a more favorable stablecoin framework?

• Global Ripple Effect: This could pressure other countries to accelerate their own crypto strategies, especially in Europe and Asia.

📊 Market Reaction (Surge post the Announcement)

• Bitcoin (BTC): Surged approximately 10%, reaching around $94,000. 🔥

• Solana (SOL): Experienced a 20% increase, climbing to about $168. 🚀

• Cardano (ADA): Soared nearly 65%, reaching approximately $1.13. 🔥

• Ripple (XRP): Went nearly 32%, reaching approximately $2.95. 🔥

• 🌟 Crypto Market Cap went from $2.91T to 3.24T 🫣 up by $330B

⏭️ Big Next’s Questions? Let us know in the comments!

• 📌 Will the U.S. Treasury expand reserves to include BTC & ETH?

• 📌 How will the SEC & Federal Reserve react to this shift?

• 📌 Could this spark global competition for crypto reserves?

💵 Stablecoins & Institutional Moves

🏦 Bank of America to Launch Its Own Stablecoin, BofA is exploring a bank-issued stablecoin to improve settlement speeds and cut reliance on external providers. Is TradFi finally going all-in on stablecoins? Learn more

💬 Stripe Founders Say Stablecoins Could Transform Global Payments, The Collison brothers believe stablecoins will revolutionize digital payments, but scalability & regulation remain key hurdles. Read more

⚔️ Tether Faces New Competition as Stablecoin Rivals Gain Ground 🫣 With new stablecoins emerging, Tether’s dominance is being challenged. Can USDT maintain its market lead? Read the story

🌍 Innovations

🇸🇬 Singapore’s Metro, a Departmental Store Now Accepts Stablecoin Payments! Crypto adoption goes retail—a major Singaporean store now accepts stablecoin payments, setting a precedent for Asia. More info

💳 PayPal’s PYUSD Stablecoin Now Accepted by 20M Merchants Crypto payments are making their way into mainstream commerce as PayPal’s PYUSD adoption grows, integrating stablecoins into millions of businesses. Is this the moment stablecoins break into mass payments? Read more

🇰🇬 Kyrgyzstan Bets on a Gold-Backed Stablecoin 🌟 Blending traditional value storage with blockchain, Kyrgyzstan is launching a gold-backed stablecoin. Details here

🏦 Europe’s Digital Euro Moves Forward with Retail Pilot Programs 🇪🇺 The European Central Bank has launched new pilot programs for the Digital Euro, focusing on retail payments. Will this become a serious competitor to private stablecoins? Read more

💰 Ethena Raises $100M for USDe Stablecoin, Targeting Traditional Finance, USDe aims to bridge TradFi and DeFi, offering a regulated on-chain USD alternative for institutional players. More

🔔 That’s a wrap for this week’s PayFi Weekly roundup! Stay tuned for next week's insights. 🚀