Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights đ§”:
1/ Jack Mallers teams up with Tether, SoftBank, and Cantor Fitzgerald to launch Twenty One, valued at US$3.6B, with plans to continue acquiring and holding BTC exclusively. Twenty One Capital, developed through a reverse merger with Cantor Equity Partnersâa special acquisition company that raised US$100M in 2023âaims to mirror the strategy adopted by Michael Saylorâs MicroStrategy and has begun operations holding 42,000 BTC.
2/ PayPal launches a loyalty program with a 3.7% yield on stablecoin balances. This move incentivizes customers to earn yield on their stablecoin holdings, which will be paid in PayPalâs USD stablecoin (PYUSD) starting this summer. With added benefits to holding PYUSD, customers are more likely to transact in and retain balances of the stablecoin, further solidifying PayPalâs stronghold in payments.
3/ Circle announces the Circle Payments Network (CPN) to transform global money movement. CPN marks the next chapter in Circleâs roadmapâfrom being a stablecoin issuer to powering a globally connected payments network. It aims to alleviate the inefficiencies of the fragmented cross-border payments system, offering financial institutions a modern way to move money globally with speed, transparency, and programmability.
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