Sixteen years after Bitcoin's launch, Stablecoins emerged as one of the most compelling applications of blockchain technology. Banks reportedly “panic” stubcoins invading their territory, but Fortune 500 companies are beginning to grasp the potential for transformation.
Shifting from blockchain to AI, Metaplatform is quietly assembled the “Superintelligence” unit, led by Scale AI founder Alexandr Wang. The move follows reports that Mark Zuckerberg's company has acquired the scale with a full-speed trading of nearly $15 billion.
This week at Crypto Biz we explore the evolving landscape of Stablecoins and the latest high-stakes movements in the Crypto and AI sectors.
Fortune 500 companies pay attention to Stablecoins: Coinbase
A new study from Coinbase shows that interest in Stablecoins by Fortune 500 companies has grown sharply over the past year, highlighting the rise in real-world utilities for the technology.
Crypto Exchange voted 100 executives from Fortune 500 companies, finding that nearly 29% are using or investigating the use of Stablecoins from just 8% in 2024. This represents an increase of more than three times in a year.
Executives cited faster financial transactions and reduced payment fees as key drivers. Approximately 7% of respondents say their company is already using Stablecoins.
Not all companies accept stubcoin. As reported by Cointelegraph, US bank lobbies are particularly concerned that stubcoins that support yields will disrupt their businesses.
Zuckerberg scrambles to ensure Meta doesn't fall behind in AI races
According to a report from Bloomberg, Meta Platforms' struggle in AI has prompted CEO Mark Zuckerberg to boldly move by acquiring a 49% stake in Scale AI, a data labeling company that supports several AI applications.
The $14.8 billion deal also brings scale AI CEO Alexandr Wang to the meta. Wang will be joining Meta's “Superintelligence” team, a group of about 50 people focusing on pursuing artificial general information.
As Bloomberg reported, Zuckerberg is unhappy with the slow progress of the meta in AI despite plans to spend nearly twice as much capital this year, many of which have been allocated to AI infrastructure development.
Nasdaq Fintech gets Crypto native protocol Mixie
NASDAQ-registered fintech company Netcapital has acquired the web3 gaming platform Mixie for a private total.
The agreement is expected to be implemented through NetCapital portfolio company Zelgor and strengthen NetCapital's token infrastructure.
Netcapital operates a complete digital capital market platform that connects private companies looking to raise capital with investors. A company spokesperson said the acquisition will enhance “the synergy between Mixie's tokenization capabilities and Netcapital's browser-based security products.”
Netcapital is a Nano-Cap stock with a market capitalization of less than $10 million.
Guggenheim partners with Ripple to expand its digital debt offering
Less than a year after launching commercial paper at Ethereum, US investment giant Guggenheim is expanding its products through a new partnership with Ripple.
Through this collaboration, the Guggenheim Ministry of Finance (a subsidiary of Guggenheim) will provide fixed income products supported by the Ministry of Finance on its XRP ledger. Fully supported by Treasurys in the US, this product may be available for purchase using RLUSD, a Stablecoin that was ultimately awarded in RIPPLE US dollars.
As part of the agreement, Ripple invested $10 million in its assets.
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