dtcpay to phase out BTC, ETH support amid services shift

  • dtcpay has announced that it will be shifting its payments services to stablecoins only effective 2025.
  • The Singapore-based platform will phase out Bitcoin and Ethereum by end of the year.

Singapore-based payment institution dtcpay has made a major announcement effective 2025, Fintech News has reported.

The licensed payment platform has announced breaking ties with digital assets Bitcoin and Ethereum as payment modes. It intends to support only stablecoins and fiat currency payment modes.

The move majors more on stability of stablecoins and fiat currency rather than the volatility nature of crypto. Business operators and consumers are also assured of a more secure payment mode and in line with the country’s regulations.

dtcpay eyes stablecoins in services pivot

In its announcement, dtcpay mentioned that there will be a paradigm shift come January 2025. Announcing its cancellation for accepting BTC and ETH, it intends to accept stablecoins USDT, USDC, Worldwide USD (WUSD) and First Digital USD (FDUSD) among others.

dtcpay’s decision comes amid an increased trajectory that has seen the regulated digital payments provider’s users lean towards stablecoins. The growth is what the company is looking to tap into, with digital payments seen as the new frontier in revolution that’s crypto.

Stablecoins make a huge chunk of this, with a Chainalysis report for Q2, 2024 indicating that the asset-backed tokens accounted for an estimated $1 billion in payments.

dtcpay’s strategic move is a strong indicator of the need for a stable and most reliable way of digital payment. Owing to its long-serving trend and trust, the platform boost of consumer confidence.

The platform’s good record in innovation, progressive growth in the digital world and different accolades has seen it become a darling to businesses.

In October 2024, the payment platform, and the only Asia -based company was picked for the Mastercard Starter Path programme. It also became the first to launch a regulated POS in Singapore enabling business owners to accept crypto payments.

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XRP hits new high above 2.80 amid fresh bounce

  • XRP price reached $2.82, its latest high as bulls dominate.
  • The cryptocurrency surged amid reports that Donald Trump could name his SEC Chair pick in coming hours.
  • XRP traded at an all-time high of $3.40 in January 2018 and struggled amid SEC lawsuit filed in Dec. 2020.

XRP, the cryptocurrency that has seen the most gains among the top 10 coins in the past few weeks, has spiked to a new high above $2.80.

The cryptocurrency of the Ripple ecosystem soared another 20% on Tuesday to lead the largest crypto assets by market cap as its price crossed $2.82 for its highest level since 2018. With this surge, XRP bulls are now eyeing the $3 level, a landmark level that could open up another vertical run past the all-time high of $3.40 reached on January 7, 2018.

XRP Chart. Source: TradingView

Why is XRP soaring today?

XRP has soared 110% in the past week and 457% in the past month – gains that go back to Trump’s win on November 5, 2024.

As most coins edged higher, led by Bitcoin’s rally to near $100k, XRP accelerated past $1 and then $2. This came as the community reacted to news that SEC Chair Gary Gensler will step down on January 20, 2025.

Ripple’s legal woes, which had the SEC suing the company in December 2020, helped constrain XRP’s price. However, with Ripple winning an epic court battle that ended with XRP declared not a security, bulls have looked to make up for lost time.

The latest uptick in prices comes amid news that president-elect Donald Trump could name Gensler’s replacement as SEC Chair “soon as tomorrow.”

Fox Business journalist Eleanor Terrett shared the news on X early Dec. 3.

XRP has also benefited immensely from the recent spate of positive ETF related news. On Monday, asset manager WisdomTree joined several firms that have filed for XRP spot ETFs with the SEC. WisdomTree’s S-1 filing joins applications by Bitwise, 21Shares and Canary Capital.

The firms seek the listing and trading of exchange-traded funds that track the daily price of XRP. A change at the SEC has the community highly bullish on the potential approval for the products.

Analysts looking at these factors and the overall market outlook are extremely bullish on XRP. Many see the XRP price spiking past the ATH reached almost 7 years ago as it cements its position as the third-largest cryptocurrency behind Ethereum and Bitcoin.

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Cambodia crackdown locks out 16 crypto exchanges

  • Cambodia has intensified its digital assets regulatory measures.
  • It has placed a ban on 16 popular cryptocurrency exchange platforms.

Cambodia has reportedly blocked websites of 16 crypto exchanges amid regulatory efforts to combat potential crypto related crime.  Among those blocked are Binance and Coinbase.

Binance is the world’s largest cryptocurrency exchange by trading volume and global user count, while Coinbase is the largest US-based crypto exchange.

Cambodia’s crackdown on unregistered exchanges

In a move to regulate the crypto space, the Cambodian government requires the exchanges to obtain a legal licence from the country’s Security and Exchange Regulator and the said exchanges failed to do so.

The Cambodian Telecommunication Regulator cited that the 102 sites banned were linked to online gambling. Shockingly, Binance which had signed a partnership with the Cambodian authorities in 2022, is among those whose sites are inaccessible following the TRC ban.

However, despite this ban, most of the banned exchanges’ mobile apps remain functional.

The National Bank of Cambodia banned the use of cryptocurrency in 2017 though citizens continued to gamble and do online exchanges of the said digital assets. The recent ban, as Nikkei Asia reported, is because the exchanges lack the licenses as required by TRC.

Despite the unfolding development, exchanges and other platforms play a huge role in the development of the country’s growing digital assets economy

Binance presence in Cambodia

In 2022, Binance signed an agreement with SERC to support Cambodia’s digital assets. The exchange went further to cement its presence in the country with a partnership with the conglomerate Royal Group.

Binance is among multiple exchanges that also faced a similar scenario to that reported in Cambodia earlier this year.

In January 2024, Indian authorities banned several platforms for failing to register.

This came a few days after India’s Financial Intelligence Unit pushed for the removal of exchange apps of several crypto exchanges from the Apple App Store and Google Play Store. It wasn’t until August 2024 that Binance officially reentered the Indian market, paying a $2 million penalty in the process.

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Coinbase partners with Apple Pay for fiat-to-crypto purchases

  • Coinbase has added Apple Pay for fiat-to-crypto purchases via its Coinbase Onramp.
  • The integration brings a tool for building onramps into users’ existing products.

Coinbase has announced the integration of Apple Pay for its fiat-to-crypto on-ramping.

The Apple Pay partnership will see users benefit from easy fiat-to-crypto purchases via the crypto exchange’s Coinbase Onramp, a tool that allows users to build onramps into their existing products.

Get on-chain easily with Coinbase Onramp

With onboarding to crypto largely complex for many platforms and users, made even more unwelcoming with the back and forth of KYC, Coinbase says its tool removes all these.

“Coinbase Onramp takes the hassle out of fiat-to-crypto conversions with lightweight KYC for eligible purchases, free USDC on and off-ramping, and access to the most popular payment methods. With Apple Pay, getting onchain only takes seconds,” the exchange wrote in a blog post.

Adding Apple Pay as a payment method means users will enjoy faster onboarding. The end-to-end experience will only take seconds for users to convert their fiat to crypto. Coinbase Onramp also means businesses can access more than 60 million Apple Pay users in the US.

The integration also means free on and off-ramping with USDC.

In April this year, Coinbase announced support for Apple Pay for its users in the UK, adding the capacity to buy Bitcoin, Ethereum and other digital assets with the payment option.

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5 top altcoins to watch and buy before Christmas 2024

As the bull market picks up speed, the crypto market is humming with activity as 2024 draws to an end, and investors are preparing for what might be a turning point. This is a critical period to find companies with strong foundations and creative ideas for individuals trying to diversify their portfolios and profit from interesting altcoins. Among these, Rexas Finance (RXS) and four other outstanding ventures are gaining growing interest from investors and analysts alike. Every one of these tokens has special qualities that could help them to expand steadily as we enter the next year.

Rexas Finance (RXS): Transforming Real-World Asset Tokenization

Leading real-world asset (RWA) tokenizing innovator Rexas Finance is creating waves. Rexas Finance uses blockchain technology to enable the fractional ownership of usually illiquid assets such as real estate, commodities, and collectibles. This creative strategy democratizes access to valuable markets, therefore increasing their availability to regular investors. Rexas Finance is in Stage 8 of its presale right now; tokens run $0.10. With almost 251 million tokens sold out of the 290 million allowed for this stage, the presale already raised an amazing $16.9 million. Rexas Finance has chosen a community-driven presale model rather than many blockchain initiatives depending on venture capital funding. This choice guarantees a more fair token distribution and so helps to match the interests of the project with those of its early sponsors.

Recent CoinMarketCap (CMC) and CoinGecko listings for the project have raised its profile and helped investors monitor its development and market performance. Furthermore improving investor confidence is a thorough CertiK assessment, which emphasizes the security and openness of the platform.

Novel Ecosystem Tools

Rexas Finance is an ecosystem not only a token. Important elements comprise:

  • Rexas Quick Mint Bot allows non-technical users to access the tokenizing process by streamlining it on Telegram and Discord.
  • Rexas Estate is a committed platform for tokenized real estate assets offering unheard-of property market liquidity.
  • Rexas AI Generator allows intelligent customizing tools to create automatic asset tokens.
  • Rexas Finance is a must-watch altcoin for 2024 with a defined path map and a complete toolkit.

Solana (SOL): Core Speed and Scalability

Among developers for distributed apps (dApps), DeFi, and NFTs Solana is still one of the most scalable and efficient blockchains, so it is a preferred one. Its low costs and fast transaction speeds provide a clear advantage over rivals; recent changes in its ecosystem have helped to support its dominance.

Why Solana?

The emphasis of the blockchain on user experience and ecosystem development has drawn big companies and initiatives. Solana stays a major contender for exponential expansion as we enter 2025 with more acceptance and alliances.

Chainlink (LINK)—The Essential Blockchain Oracle

A pillar of the blockchain universe, Chainlink offers distributed oracles bridging smart contracts with actual facts. Chainlink’s products have become absolutely essential as DeFi, gaming, and enterprise blockchain applications expand.

What Distinguishes Chainlink?

From price feeds for DeFi systems to weather prediction for insurance, Chainlink’s oracles find use in many fields. Future developments including Chainlink Staking 2.0 are meant to confirm its market leadership even more.

Immutable X (IMX)—the Blockchain Gaming Leader

Providing a Layer 2 solution with low gas fees and rapid transaction processing, Immutable X is transforming the NFT and gaming environments. Its relationships with big gaming companies have helped it to become a hotspot for digital collectibles and blockchain-based games.

Why Purchase Immutable X Today?

Immutable X is ideally positioned to gain from the growing embrace of blockchain by the gaming sector. Its focus on scalability and user-friendly solutions makes it an interesting investment; its ecosystem is fast-growing.

Stacks (STX) — Bringing Bitcoin Smart Contracts

Stacks enable smart contracts, DeFi, and NFTs using Bitcoin’s security and immutability. Building on Bitcoin’s blockchain, Stacks presents a novel way of combining the dependability of Bitcoin with Ethereum-like capability.

Unique Value Proposition of Stacks

Stacks is positioned to gain from the rising interest in Bitcoin-layered solutions as the story of Bitcoin develops transcends mere currency. Its ecology is growing steadily as more developers investigate its possibilities.

Why These Altcoins Could Represent a Buying Opportunity Right Before Christmas

Now could be the moment to set yourself up for possible exponential returns as the bull market picks up traction. Supported by a great presale performance and complete ecosystem tools, Rexas Finance (RXS) distinguishes itself for its creative approach to real-world asset tokenization.

One of the most intriguing initiatives to follow is CMC and CoinGecko listings together with a CertiK audit. Solana, Chainlink, Immutable X, and Stacks each add special value from scalability and necessary infrastructure to gaming and Bitcoin integration.

These cryptocurrencies have chances for both long-term development and quick profits, thereby reflecting the variety and possibilities of the cryptocurrency market. Use these interesting initiatives as the Christmas season gets ready to create a portfolio poised to profit from the next surge in crypto market expansion. These altcoins could be your pass to a rich 2025 regardless of your level of experience with investing or newness in this field.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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