Visa Says It Wants to Build the Rails for Lending in ‘Onchain Finance,’ Its New Name for DeFi

Visa is making a bold move by unveiling a roadmap for programmable money, signaling a significant shift in the financial landscape. With a $670 billion stake in the stablecoin lending market, Visa is indicating that this isn't just a crypto experiment but a foundational element for the future of finance. This development is crucial as it could reshape how financial institutions operate and interact with digital currencies, potentially leading to more innovative and accessible financial solutions.

Visa's latest report highlights the evolving role of stablecoins, indicating they are expanding beyond their traditional use in payments and are now making significant inroads into the credit markets. This shift is important as it suggests a growing acceptance and integration of digital currencies in mainstream finance, potentially offering new opportunities for lending and investment.

The price of SNX, the token for the Synthetix DeFi platform, has dropped 15% after a brief rebound, raising concerns among investors. This decline is significant as SNX is crucial for minting synthetic assets and staking for rewards. The downturn highlights the volatility in the cryptocurrency market and poses questions about the future recovery of SNX, making it a critical moment for stakeholders in the DeFi space.

Visa, Mastercard, and American Express have teamed up with Cloudflare to enhance security during online checkouts by authenticating AI agents. This collaboration is significant as it aims to protect consumers from fraud and ensure a safer shopping experience in an increasingly digital world. By leveraging advanced technology, these financial giants are taking proactive steps to address the growing concerns around online security, making it a win for both businesses and customers.

Bitcoin is facing a challenging moment as its price has dropped to $103,528, reflecting a negative trend in the cryptocurrency market. This decline is significant as it indicates a critical transition phase for Bitcoin, raising concerns among investors about the future of the leading digital currency. With the global macroeconomic outlook becoming increasingly uncertain, many are left wondering when this downward trend will stabilize and what it means for the broader market.

Ghana is making significant strides in the cryptocurrency space as lawmakers aim to establish regulations by the end of December. This move, highlighted by Bank of Ghana Governor Johnson Asiama, is crucial for creating a safe and structured environment for digital assets. With the rise of cryptocurrencies globally, having a legal framework will not only protect investors but also position Ghana as a forward-thinking player in the financial technology landscape.

A retired therapist has lost her entire investment portfolio to a crypto scam, highlighting the risks associated with cryptocurrency investments. This incident serves as a cautionary tale for others considering entering the volatile crypto market, emphasizing the importance of thorough research and skepticism towards too-good-to-be-true offers.

Dogecoin's price has taken a significant hit, dropping 10% to $0.17 as large investors, known as whales, sold off approximately 360 million DOGE worth $74 million. This decline extends a troubling trend, with the cryptocurrency down over 27% for the week. Despite some positive buzz surrounding the potential merger of House of Doge with a Nasdaq-listed company and Thumzup's plans for DOGE payouts to creators, the initial excitement has quickly waned. This situation highlights the volatility in the crypto market and the impact of large sell-offs on prices.

Ripple's recent partnership with Absa Bank is generating excitement in the crypto community. Pro-XRP lawyer Bill Morgan highlighted that this collaboration not only emphasizes the importance of digital asset custody but also showcases the increasing demand for Ripple's payment infrastructure in Africa. This development is significant as it reflects the growing acceptance and integration of cryptocurrency in traditional banking systems, potentially paving the way for more innovations in the financial sector.

Steak 'n Shake is making waves in the fast-food industry by introducing a Bitcoin-themed burger, priced at $7.19, as part of its initiative to accept cryptocurrency payments. This limited-edition item not only showcases the chain's innovative approach to modern dining but also highlights the growing acceptance of digital currencies in everyday transactions. It's an exciting development for both burger lovers and crypto enthusiasts, signaling a shift in how we think about payment options.