#955 - SoFiUSD Stablecoin Hits $100m Market Cap On Ethereum
SoFi rolls out its stablecoin. Cash App supports stablecoin transfers. And Aztec Labs acquires ZKPassport.
SoFi rolls out SoFiUSD on Ethereum.
Mastercard granted a BitLicense.
Cash App enables USDC transfers.
Aztec Labs acquires Obsidion.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
SoFi Technologies rolled out SoFiUSD, its native U.S. dollar stablecoin, to SoFi members. The stablecoin already has over $100 million in market cap on Ethereum mainnet and is backed 1:1 to U.S. dollars. SoFi Bank, N.A. becomes the first nationally chartered retail bank to issue a stablecoin on Ethereum, with tokenized deposit functionality also in development.
Mastercard Transaction Services was granted a BitLicense by the New York State Department of Financial Services, allowing it to engage with stablecoins and tokenized deposits in the state of New York. The license supports Mastercard's broader strategy to bridge payment and settlement infrastructure for digital assets while maintaining its existing compliance.
Cash App launched support for stablecoins, allowing its nearly 60 million users to send and receive USDC directly from their existing balance with no wallet setup required. The feature is live on Ethereum, Polygon, and Arbitrum, with auto-conversion to USD at a 1:1 ratio with no fees. The feature is unavailable to New York residents.
Aztec Labs announced its acquisition of Obsidion, the team behind ZKPassport, a ZK-powered private identity verification platform. ZKPassport allows users to prove age and nationality from over 130 supported government IDs without revealing their full personal data. ZKPassport will remain open source under Aztec Labs, with co-founders Michael Elliot and Theo Madzou staying on to expand the protocol into new consumer products.
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Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Cash App Supports USDC Transfers
Cash App launches support for USDC stablecoin transfers on Ethereum, Polygon, and Arbitrum, with no wallet setup required for its nearly 60 million users.
Cash App launched support for stablecoins, allowing users to send and receive USDC directly from their existing Cash App balance. The solution requires no wallet setup and is now live for USDC stablecoin transfers on Ethereum, Polygon, and Arbitrum. For receiving stablecoins, Cash App auto-converts stablecoins into a USD balance at a 1:1 ratio with no fees.
The rollout provides Cash App's nearly 60 million users with access to stablecoins. Sending limits are set at $2,000/day and $5,000/week. The feature is also unavailable to New York residents.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Aztec Labs Acquires ZKPassport
Aztec Labs acquires Obsidion, the team behind ZKPassport, a ZK-powered private identity tool.
Aztec Labs announced its acquisition of Obsidion, the team behind ZKPassport, a ZK-powered private identity verification platform. ZKPassport allows users to prove age and nationality from over 130 supported government IDs, without revealing their full personal data. The protocol generates a cryptographic proof of the data locally.
Aztec Network used ZKPassport to verify nationality for the Aztec Network token sale. ZKPassport co-founders Michael Elliot and Theo Madzou will continue building ZKPassport under Aztec Labs. ZKPassport will remain open source and the team plans to expand use cases into new consumer products.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created