Apple Pay One-Click is now available on MetaMask via Banxa, Coinbase expands into Canada, and the lead of Protocols says Base Network is ‘Permissionless’.

Apple Pay One-Click is now available on MetaMask via Banxa, Coinbase expands into Canada, and the lead of Protocols says Base Network is 'Permissionless'.

Blockchain Industry: Payments, Exchanges, Regulations, DeFi, Security, and Politics

The blockchain industry continues to expand and revolutionize various sectors, including finance, payments, exchanges, regulations, decentralized finance (DeFi), security, and even politics. While the news headlines tend to focus on major developments, there are often hidden gems in the blockchain world that go unnoticed. Here, we dive into some recent events and explore the deeper implications for the industry.

Payments News

Financial technology platform Banxa announced that Apple Pay one-click is now available for MetaMask wallet iPhone users worldwide. This integration is significant for the seamless integration of cryptocurrencies into the user experience. Banxa’s CEO, Holger Arians, stated that this marks an important step towards embedding crypto into the daily lives of users[^1^]. At the same time, PayPal has introduced its Cryptocurrencies Hub feature, allowing users to hold and interact with Bitcoin and other cryptocurrencies in their PayPal accounts. The move represents a major stride in the adoption of mainstream payment platforms integrating cryptocurrencies[^1^].

Exchange News

Coinbase, one of the leading cryptocurrency exchanges, has expanded its offerings in Canada. Through its partnership with Peoples Trust Company, part of the Peoples Group, Coinbase now provides access to the Interac e-Transfers funds transfer service to its Canadian users[^2^]. This expansion showcases Coinbase’s commitment to the Canadian market, offering zero trading fees, boosted staking rewards, and priority 24/7 support, among other benefits, through the Coinbase One membership[^2^].

Blockchain News

Coinbase recently launched Base, its own Layer 2 blockchain. Jesse Pollak, the lead for Coinbase protocols, responded to concerns about the centralization of Base. He emphasized that the network is “permissionless” and that Coinbase does not have full control over Base, ensuring its continued open, permissionless, and decentralized nature[^3^]. While the current systems’ upgradability may still possess some permissioned aspects, Coinbase’s commitment to ensuring an open protocol is evident.

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Regulation News

The UK Financial Conduct Authority (FCA) has received applications from 291 crypto companies since January 2020. However, a mere 13% of these have obtained permits to operate in the country[^4^]. The FCA indicated that most applications were withdrawn by the companies themselves, but some were refused due to non-compliance with regulations. The FCA strictly requires firms to meet conditions outlined in the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations 2017 (MLRs). Failure to provide the required minimum information results in application rejection[^4^].

DeFi News

Decentralized exchange Uniswap made headlines recently when it fired an employee who was allegedly involved in a rug pull. This incident further underscores the importance of trust and transparency within the DeFi space. Founder Hayden Adams made it clear that such behavior is not supported or condoned[^5^]. The incident highlighted the need for robust security measures and thorough background checks to mitigate risks within the DeFi ecosystem.

Security News

Decentralized finance platform Zunami Protocol experienced an attack on its liquidity pool in collaboration with Curve Finance. The hacker managed to steal over ETH 1,152 (equivalent to more than $2.12 million)[^6^]. The Zunami Protocol team promptly alerted users not to buy zETH and UZD, assuring them that the collateral remained secure. The incident emphasizes the importance of continuous security efforts and the need for robust protocols to protect users’ funds within DeFi platforms.

Politics News

In an unexpected turn of events, Javier Milei, a libertarian candidate who supports Bitcoin and advocates for the abolishment of Argentina’s central bank, won the primary presidential election in Argentina. Milei’s significant support highlighted the growing influence of cryptocurrencies and libertarian ideals in shaping political landscapes[^7^]. This reflects the increasing recognition of the potential of cryptocurrencies and blockchain technology globally, not only in the financial sector but also in politics.

The blockchain industry is a flourishing ecosystem with numerous developments and continuous advancements. From payments to security, exchanges to regulations, DeFi to politics, each sector presents unique challenges and opportunities. While the industry is still evolving, it is clear that blockchain technology is here to stay, reshaping traditional systems and inspiring innovation across various domains.

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References: [^1^] Get your daily, bite-sized digest of cryptoasset and blockchain-related news [^2^] Coinbase expands offerings in Canada [^3^] Coinbase protocols lead discusses Base blockchain [^4^] UK regulator reveals approval process for crypto firms [^5^] Uniswap fires employee following rug pull claim [^6^] Zunami Protocol liquidity pool attacked [^7^] Libertarian candidate wins Argentina’s primary presidential election

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