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Visa will build on Solana with USDC

Visa will build on Solana with USDC

READING TIME: 4 mins 44 secs

Good Morrrrrrrning!

Don’t you agree that Wednesdays are like the gas fees on the Ethereum network? Sometimes they're a pleasant surprise, other times they make you want to flip your desk. Fingers crossed for the more positive version of your Wednesday!

Here's what we got for you today:

💰Yuga Labs offers Bitcoin NFT rewards

🏄‍♂️ Visa surfs the Solana wave for faster payments

🚫 80 Chinese crypto influencer accounts shut down

🏄‍♂️ Visa surfs the Solana wave for faster payments

Visa plans to expand its stablecoin settlement capabilities utilizing the USDC stablecoin and the Solana blockchain.

In collaboration with Worldpay and Nuvei, this move seeks to revolutionize cross-border settlements by facilitating quicker and more efficient transactions. While many altcoins have seen reduced interest recently, Solana continues to attract significant institutional investment, solidifying its position among top digital assets. In the past, Visa's collaboration with Crypto.com and the Ethereum blockchain in Australia has shown success in reducing settlement times. Solana's efficiency and low fees make it a promising choice for Visa's future endeavors in the digital payment realm.

🚫 80 Chinese crypto influencer accounts shut down

Sina Weibo, a leading Chinese social media platform with 258 million daily active users, has deleted 80 influencer accounts associated with promoting cryptocurrency activities.

This move follows the official legislation and is in line with Weibo's previous actions since China's crypto ban in September 2021. Earlier, in March, 131 accounts linked to crypto and stock trading were removed. Furthermore, in August 2022, the Cyberspace Administration of China (CAC) deleted 12,000 influencer accounts and 51,000 related posts on Weibo and Baidu. The clampdown seeks to ensure compliance with multiple regulations and protect the public from potential investment risks.

✨ USDC expands to Base and Optimism networks

Circle's USDC has been introduced natively on both the Base and Optimism networks, enabling transfers of USDC from Circle accounts to Base or Optimism.

Additionally, Coinbase has now enabled USDC transfers to Base. At the time of Base's launch on August 9, direct transfers of USDC weren't possible, so users depended on a bridged version termed "USDbC." The official launch of USDC on these networks is significant, but many decentralized exchanges, like Uniswap and Baseswap, still use the older coin version. Amid this development, Circle faces challenges in regaining its market share from competitors like USDT and newer stablecoin launches.

💰Yuga Labs offers Bitcoin NFT rewards

Yuga Labs, creators of the Bored Ape Yacht Club, have initiated a 13-week cipher puzzle series associated with their TwelveFold Bitcoin NFT collection.

The TwelveFold collection, a generative art series launched in February, utilizes a 12x12 grid. For 12 weeks, a Moon Puzzle is released, with the solver winning 0.12 BTC. The final puzzle's winner will receive an unspecified TwelveFold ordinal in the thirteenth week. Participants submit answers inscribed on satoshis, Bitcoin's smallest denomination, and need a bitcoin ordinals wallet.