Cambodia has one of the highest retail crypto adoption rates.

The government just blocked access to Binance, Coinbase & 14 exchanges. The war on crypto isn’t just about 'regulation' — it’s about control.

What's the scoop?

• Cambodia cited "lack of licenses" but mobile apps remain accessible despite the website restrictions.
• Only 2 firms in Cambodia's FinTech Sandbox can trade digital assets but can't exchange them for Cambodian or other fiat.

Will Ethereum remain institutions' top choice?

jonahrobrts breaks down the blockchain competition for TradFi's attention 🤼‍♂️

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Disruption. Digitization. Financial inclusion. Future-proofing.

What do all of these oft-repeated buzzwords have in common? They’ve all been used by crypto-pilled associates at TradFi firms to pitch their bosses on the exciting upside of blockchain tech. This year, it seems, the executives are listening.

Institutions jumped into crypto more headlong than ever in 2024. Their moves are starting to bridge the gap between TradFi and DeFi. However, this article isn’t focused on why firms are building onchain. Instead, we are focusing on where these funds are choosing to build.

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What’s Happening on Ethereum?
Ethereum is the world’s largest smart-contract blockchain network. It has secured over $90 billion in RWAs, including stablecoins. 2024 has been a big year for the adoption of non-stablecoin RWAs on Ethereum as well, with the network growing its onchain U.S. treasuries, bonds, and cash equivalents from $800 million to over $1 .5 billion and overall non-stablecoin RWA value to $2 .9 billion.

Some of the major players building on Ethereum this year include
Visa, BlackRock and FTI_US

Earlier this month, Visa announced that they are building the Visa Tokenized Asset Platform (VTAP) on Ethereum. This is the company’s biggest step toward crypto adoption thus far. VTAP enables Visa to issue and manage fiat-backed tokens on Ethereum. It is intended to be a sandbox for participating financial institutional partners to create and experiment with fiat-backed tokens. They expect to begin piloting the platform with Spanish multinational bank BBVA in 2025. While the VTAP program is certainly an experiment, it gives credit to the thesis that TradFi will migrate its operations onto Ethereum over the coming decades.

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Yet, the success of Ethereum’s competitors highlights a critical point: institutions are no longer bound to a single network. While Ethereum is foundational, blockchains like Solana and Stellar provide alternatives that are increasingly hard to ignore. However, they also present novel interoperability concerns.

Interoperability is central to the future of institutional blockchain adoption. As Visa states in their VTAP press release announcement, the largest benefits of building onchain include easy integration, programmability, and interoperability. Institutions that venture onto non-EVM chains like Solana or Stellar may face challenges in asset liquidity and protocol compatibility. This can lead to reliance on third-party services to bridge assets between chains, which introduces complexity and security risks. Ethereum’s widespread use means that staying within the EVM ecosystem—whether through Ethereum or Layer 2 solutions—remains the simplest and most secure option for institutions.

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However, for Ethereum to maintain its lead in the race toward institutional adoption, it must continue to balance world-class security and stability with the performance and scalability that competing chains continue to push. The race to capture the attention of institutional finance will be won by the network that can not only meet today’s demands but also anticipate the needs of tomorrow. Ethereum is well-positioned for now, but staying on top will require constant evolution.

On September 20, Reown, formerly WalletConnect, announced the launch of its Solana Appkit, a comprehensive developer tooling platform designed to simplify Solana ecosystem development.

The move promises to amplify Solana connectivity, leveraging a range of essential services that aim to expand the ecosystem. Best known for its expansive EVM network, Reown facilitates over 15M monthly wallet connections across 100+ blockchains.

Solana’s inclusion in Reown’s substantial list of supported chains comes following the network’s meteoric growth throughout 2024. Reown CEO Jess Houlgrave contends that the Solana Appkit’s launch could spearhead a new wave of applications on the network:

"The Solana ecosystem has stood out since its inception in 2020. Solana instantly drew interest from developers and teams throughout the industry, resulting in some of the biggest and most recognizable projects to date. The launch of the Solana AppKit will act as a catalyst for further growth, the AppKit simplifies building apps and ensures the best experience for end-users. We're excited to see what teams can do with these new tools". - Jess Houlgrave, Reown CEO.

What Can Developers Expect From Reown’s Appkit?
Reown’s Solana Appkit aims to streamline the development process, amplifying application connectivity across the ecosystem. The new tooling platform promises a range of essential features, including:

WalletConnect Network integration.

Simplified email and social login - Allowing users to connect to dApps using familiar, Web2 logins.

Fiat-to-Crypto onramp - Partnering with Coinbase, users can instantly buy over 100 crypto assets directly through Reown-powered apps.

Token swaps - In collaboration with 1Inch, Reown provides applications with in-app trades at the best available rates.

Web3 Messaging Notifications - Apps can now send onchain messages directly to user’s wallets.

Multi-Language support - Reown’s Solana Appkit supports developers building with React, Vue, JavaScript, and Next.js

Reown Attracts Key Launch Partners
Bringing the new Appkit to as many Solana developers, Reown has collaborated with some of the biggest names in the ecosystem. Integral DeFi apps like Jupiter, Solana’s leading aggregator, and Marinade Finance, one of Solana’s original staking providers, have lent their weight behind the launch, with additional support from Drift Protocol, a popular perpetual DEX, and Solayer, the network’s leading restaking protocol.

Drift Protocol co-founder Cindy Leow believes that Reown’s Solana Appkit will facilitate a smoother onboarding process for traders. Championing the toolkit accessibility, Leow expressed excitement at the prospect of a widening ecosystem.

“At Drift we’re continuously improving the experience for our users. As we expand, we want to see even more blockchain adoption. Integrating Reown’s Solana AppKit marks a milestone for accessibility and usability. We’re looking forward to seeing more apps in the Solana ecosystem leverage the Solana AppKit” - Cindy Leow, Drift Protocol co-founder.

Echoing Leow’s enthusiasm, Backpack CEO Armani Ferrante also demonstrated his support for the Reown Appkit.

“As the entry point for the Solana ecosystem, Backpack wallet team worked closely with the Reown team to integrate the Reown WalletKit on the mobile app end. We’re excited to partner with Reown and improve Solana users' experience. Now, users can easily access Backpack Wallet when they click the WalletConnect button on their favorite dApps.” - Armani Ferrante, Backpack CEO

Alongside Solana’s dramatic surge in user activity throughout 2024, the network has also enjoyed a significant increase in developer activity. According to the Solana 2023 Developer Report the network boasted over 2,500 monthly active developers.

The Reown Solana AppKit is expected to provide Solana’s expansive developer community with an expansive suite of tools, enabling them to create a diverse and access

New Chapter Unlocked: @Solana 🔲

1 ⃣ Multichain Boost: Deblock is fully committed to the diversity of blockchains
2 ⃣ Solana, the fast and economical alternative: Ultra-fast and cheaper transactions.
3 ⃣ IBANs & Solana: Easily switch to fiat currency with our integrated IBANs.

Ready to explore? 🌐

🔥 AMAZING 🔥

Compared to #Bitcoin The iPhone 16 will be the cheapest new iPhone EVER 😎🔥

FIAT ❌
#btc ✅

🚨 SWIFT launches system to simplify tokenized asset (RWA) transactions.

SWIFT is updating its system to support real-time transfers of tokenized assets, connecting blockchains, CBDCs and fiat currencies for seamless global transactions.

“Our vision is that our members can use their Swift connection to transact interchangeably using both existing and emerging asset and currency types.”

https://www.swift.com/news...

💬 BlackRock claims on its website that #Bitcoin "could serve as a hedge against growing global disorder and declining confidence in governments, banks and fiat currencies."

Mercuryo, a Web3 payments provider, has announced the rollout of Spend, a virtual debit card promising to streamline crypto payments.

Complete with Apple Pay and Google Pay compatibility, Spend facilitates payments directly from Solana wallets to over 90M Mastercard merchants across the globe.

WHAT IS SPEND??
Mercuryo’s Spend allows wallet apps to integrate virtual Mastercard debit cards directly into their applications. Through the Spend Card, Mercury promises to enable the crypto community to use their crypto assets to “spend on anything. Anytime. Anywhere.”

Spend aims to provide a fast and cost-effective method for crypto users to convert and spend their digital assets from their wallets. Beyond the simplicity of Mastercard, Apple Pay, and Google Pay integration, Spend also offers card customization, meaning wallet providers can incorporate their logos into virtual cards.

Spend is fully self-custodial, meaning users have full control over any assets deposited into the card account. Additionally, the platform offers multi-chain support, including Solana, Ethereum, and PolkaDot.

As part of the announcement, Mercuryo teased that several leading Web3 wallets will be adding Spend in the near future. SolanaFloor engaged Mercuryo for comment on the matter but is yet to receive a response.

Why Web3 Needs Better Off-Ramps
Since the birth of the industry, crypto companies have focused tirelessly on streamlining the flow of funds into decentralized economies. According to Mercuryo, “on-ramping is now a user-friendly process, and users can purchase crypto with ease.”

While onboarding has become easier with exchanges and third-party apps readily available, bringing funds back into the real world still poses significant barriers. Mercuryo argues that the biggest struggles facing crypto off-ramping are:

1. Poor UX of existing solutions - Users need to jump through a variety of hoops to withdraw funds. Many platforms are only available in certain regions and popular offboarding platforms offer limited support outside of mainstream cryptos.

2. Bank restrictions - Traditional banks often block payments from crypto-related companies and freeze accounts suspected of interacting with cryptocurrency.

3. Extortionate fees - Third-party apps and intermediaries can charge high fees on crypto-to-fiat withdrawals, discouraging users from transferring funds.

Slow processing times - After becoming accustomed to rapid, permissionless transfers onchain, crypto-to-fiat withdrawals can feel slow and cumbersome.

While the industry loves to discuss and promote progress and efforts toward crypto onboarding, finding seamless methods of getting funds off-chain is equally important.

Mercuryo’s commitment to simplified crypto off-ramps helps to legitimize digital currencies as meaningful financial tools. Through the Spend card, millions of crypto users may be able to enjoy improved access to their funds in real-world contexts, solidifying the role of cryptocurrency in the Web2 world

BTC, against the background of a fairly positive speech by Powell of the US Federal Reserve, that it was time to change the Fed's policy and start lowering rates, the data we will receive on inflation on September 11 will give confidence in further rate cuts at subsequent Fed meetings.
Bitcoin has broken through the local resistance level against this background, we are moving along the setup that was written on the 20th. Slowly but surely we are moving towards the 70,000-73,000 mark, after which a new round of growth will begin. But still, this requires a pin on a weekly tamframe.

the withdrawal from the exchanges exceeds the input - 35%, 11,000 btc
Significant volumes!

Altcoins have grown significantly from the lower level of the squiz on August 5th. Some have already risen 2 x higher. While the waiters were waiting below. We bought in the VIP channel, and he already sees the result in our deposit! There is still a part of the fiat free, but I will not use it yet, it will probably increase the deposit in the x125 group for trading speculative transactions. I will let you know about it closer to September 11.
Altcoins have also come close to important downward trends in the capitalization of altcoins. The breakdown and closing above will already give a more significant increase in altcoins, and those entry points that we had for coins, many will already start biting their elbows! Patience is a profit!

https://www.tradingview.co.../

🚨 MetaMask partners with Mastercard and Baanx to launch the world's first Mastercard debit card that enables instant spending directly from your self-custody wallet.

The MetaMask Card works like a traditional debit card: users can make purchases directly from their MetaMask wallet.

The Crypto is then instantly converted to fiat and available for purchases online or in-store.

“MetaMask Card represents a major step towards eliminating the friction that exists between blockchain and traditional payments. It is a paradigm shift that offers the best of both worlds,” said Lorenzo Santos, Senior Product Manager at Consensys

https://consensys.io/blog/...

BTC, yesterday there was a re-test of the 60,000 level, which could not be immediately returned. Let me remind you that a lot of important data will be released this week, with the help of which the market can turn around if there is good data. The right step is to wait for this news within a week, make an action plan, place limit orders and wait. There is no place to pour free fiat directly into the current ones. We also read the post above, which describes the local support levels.

the withdrawal from the exchanges exceeds the input - 18%, 1,200 btc

Altcoins, the situation is similar here. I keep a free fiat until the data is released. Yesterday, as we saw, most altcoins showed growth, as a result of a slight correction in the dominance of Bitcoin. Subject to a deeper correction of Bitcoin's dominance, one can imagine what percentages of growth altcoins can show. There is not much time left to recruit altcoins. The correction in the market cannot be eternal...The growth of altcoins is a matter of time.

https://www.tradingview.co.../

Daily Memecoin Recap - August 7

Volume starting to pick up as $btc , $sol recover

Runners Of The Day
$btw -> $1 .6m to $15 .6m (9.75x), banana taped to a wall, after pulling back yesterday, reached new ATH's today, good community
$nani -> hit $3m , KOLs in, dog meme
$minion -> hit $2 .8m, "Jesus Minion Confessions", unique concept where they post people's confessions
$chango -> hit $2 .3m, monkey with a machine gun
$jajak -> hit $1 .4m, funny meme
$tt -> hit $1m , "Thumb Thumb", spy kids meme

Insider Trump Coin
$twc -> hit $5 .5m, "Trumpwifcrown"
- Speculation that this was Trump's coin after Eric Trump's tweet saying "Stay tuned for a big announcement"
- Heavily sniped with insane volume, currently at $50k
- Plenty of smart wallets aped

Kamala Harris Announces Her VP Pick
$coconut -> $5m to $11 .3m (2.26x), KamalaHarris
, cult community, new ATH
$walz -> $315k to $2m (6.35x), based on Tim_Walz

Dog Meta
$wDOG -> $12m to $26m (2.16x), wrapped dog, currently retracing
$bicho -> $93k to $1 .8m (19x), coin out since June but heavily pushed today, $michi beta
$drc -> hit $995k , "Dog Riding Chicken", CTO
$pitbull -> hit $720k
$pooku -> hit $645k , CTO
$borf -> hit $475k , cartoon dog
$waffles -> hit $220k

Cat Meta
$neo -> hit $1 .8m, "The one", cat + matrix
$apple -> hit $340k , a cat with an apple
$icd -> hit $250k , "International Cat Day" is today

Other Cooks
$fiat -> hit $500k
$sheep -> hit $465k , same dev as $goat which peaked at $45m
$slog -> hit $370k , snail meme
$rockstar -> hit $240k , rock shaped like a star

What did you catch?

BTC wrote yesterday that the market needs to recover within a week or two. I think this is an extremely important point. There is also a breakdown of the key resistance zone of 70,000-73,000 and even higher. All this needs to be done within these deadlines. The market has been in flat or correction for quite a long time, at the current it has been 5 months. The edge is 6 months. Whales have accumulated and bought more than 404,000 Bitcoins recently, on the drain the day before yesterday, there were purchases from whales, there were large deposits on Fiat Exchanges to buy off this strait. More than $ 1.2 billion was placed on the Binance Exchange alone. The hash rate of Bitcoin has recovered, as well as reached new highs. This is a positive moment for the start of a new cycle. A kind of indicator.

the withdrawal from the exchanges exceeds the input - 4%, 1,700 btc

Altcoins, as well as the story about Altcoins, the restoration of which is necessary within a week or two. Let me remind you that altcoins have been in flat or correction for the 5th month.
This has been going on for at least a long time and is approaching the term recession. August and September will be key for Altcoins! It won't be long, patience is a profit!

https://www.tradingview.co.../

Crypto affluent, fiat frustrated… Strong belief that a 2nd bankruptcy can’t ruin me. Donald would agree 100%. I paid $9000 into a Consumer proposal, then realized I was maintaining “credit” with the wrong creditor (BTC)…. A new age indeed. Our hopes are high that we can get a return!

When is pay day? Crypto is great, but right now some Fiat in the wallet is what I am looking for, folks.

Court documents reveals that Binance has received court approval to put customer fiat funds into US Treasury Bills.

Solana-based Helio introduces Auto-Transfer, a feature that converts crypto purchases to fiat and transfers them directly to merchants' bank accounts, simplifying transactions on platforms like Shopify and Woo.

🤝 Chiliz entered into a partnership with AlchemyPay .

Alchemy Pay now supports Chiliz Chain & Fan Tokens!

Fiat-to-crypto payments will be available in 173 countries around the world and in more than 50 fiat currencies.

At the moment, the integration includes CHZ, ACM, ARG, ATM, and 10 other Fan Tokens.

https://x.com/alchemypay/s...

PayPal USD, the fiat-backed stablecoin launched by one of the world’s most recognizable brands, is finding a home for itself within Solana’s booming DeFi ecosystem.

When PYUSD launched on Solana in late May, many network participants saw it as an inferior alternative to established stablecoins like Circle’s USDC. However, a meteoric rise in PYUSD supply in recent weeks suggests that there may be more demand for PayPal USD than originally anticipated.

PYUSD Supply on Solana Up 198% in Two Weeks, What’s Driving PayPal USD’s Explosive Growth??

Stablecoins are cryptocurrencies designed to maintain a stable value, often backed by assets such as the US dollar or the euro.

Currently, they represent 84% of the total volume of exchanges in the crypto ecosystem.

In other words, the vast majority of transactions are made using stablecoins rather than traditional fiat currencies.

. Uniswap Wallet integrates Transak to facilitate fiat-crypto conversions :

Uniswap partners with Transak to integrate fiat-crypto conversion services into Uniswap Wallet. Users will be able to buy cryptos directly with fiat currencies via Apple Pay, Google Pay, credit cards.

. The Bahamas wants to force local banks to integrate their CBDC :

The Bahamas is preparing legislation requiring banks to support their CBDC, the "Sand Dollar". According to the governor of the central bank, banks will have to offer access to this digital currency to their customers within two years.

. Cometh and Worldcoin collaborate to facilitate account abstraction :

The French startup Cometh has received a grant from the Worldcoin Foundation to develop a mobile library integrating access keys, ERC-4337, and Safe smart accounts in World Chain wallets.

. Bitfarms increases its production capacity :

In June, Bitfarms increased its Bitcoin production by 21%, reaching 189 BTC, despite a decrease of 51% compared to June 2023 due to the last halving. The company sold 134 BTC for $8 .8 million and now holds 905 BTC.

Solana's Liquidity layer Marginfi has partnered with Meso a network created to enable fast and secure transactions between banks and crypto wallets in order to enable fiat-to-crypto transfers, boosting solana liquidity directly from US bank accounts