Stablecoins Surge, Meta's AI Ambitions Develop

Sixteen years after the launch of Bitcoin, stablecoins have emerged as one of the compelling purposes of blockchain know-how. Banks are reportedly “panicking” over stablecoins encroaching on their territory, whereas Fortune 500 corporations are starting to know their transformative potential.

Shifting from blockchain to AI, Meta Platforms is quietly assembling a “superintelligence” unit, led by Scale AI founder Alexandr Wang. This transfer follows stories that Mark Zuckerberg’s firm acquired Scale in a virtually $15 billion all-cash deal.

On this week’s Crypto Biz, we discover the evolving panorama of stablecoins and the most recent high-stakes strikes within the crypto and AI sectors.

Fortune 500 corporations are taking note of stablecoins: Coinbase

Curiosity in stablecoins amongst Fortune 500 corporations has grown sharply over the previous yr, highlighting the know-how’s growing real-world utility, based on a new survey by Coinbase.

The crypto alternate polled 100 executives from Fortune 500 corporations and located that almost 29% are both utilizing or exploring the usage of stablecoins, up from simply 8% in 2024. This represents a greater than threefold improve in a yr.

Executives cited quicker monetary transactions and decrease cost charges as the first drivers of curiosity. About 7% of respondents mentioned their corporations are already utilizing stablecoins.

*The stablecoin market has grown considerably over the previous yr, eclipsing $250 billion as of June. Supply:* *CoinGlass*

Not each firm is embracing stablecoins. As Cointelegraph reported, the US banking foyer is especially involved about yield-bearing stablecoins disrupting their enterprise.

Zuckerberg scrambles to maintain Meta from falling behind in AI race

Meta Platforms’ struggles in AI prompted CEO Mark Zuckerberg to make a daring transfer by acquiring a 49% stake in Scale AI, a data-labeling firm that helps a number of AI purposes, based on stories from The Info and Bloomberg.

The $14.8 billion deal additionally brings Scale AI CEO Alexandr Wang into Meta. Wang is ready to affix Meta’s “superintelligence” staff, a gaggle of about 50 folks targeted on pursuing synthetic common intelligence.

As Bloomberg reported, Zuckerberg has grown annoyed with Meta’s gradual progress in AI, regardless of plans to almost double capital expenditures this yr, a lot of which is earmarked for AI infrastructure improvement.

Nasdaq fintech acquires crypto native protocol Mixie

Nasdaq-listed fintech firm Netcapital has acquired Web3 gaming platform Mixie for an undisclosed sum, probably marking the primary time a publicly traded firm has acquired a crypto-native protocol.

The deal was executed by means of Zelgor, a Netcapital portfolio firm, and is anticipated to reinforce Netcapital’s tokenization infrastructure.

Netcapital operates a totally digital capital markets platform that connects non-public corporations looking for to boost capital with traders. An organization spokesperson mentioned the acquisition enhances “synergies between Mixie’s tokenization capabilities and Netcapital’s browser-based safety providing.”

Netcapital is a nano-cap inventory with a complete market capitalization of lower than $10 million.

Guggenheim companions with Ripple to broaden digital debt providing

Lower than a yr after launching its industrial paper providing on Ethereum, US investment giant Guggenheim is increasing the product by means of a brand new partnership with Ripple.

By this collaboration, Guggenheim Treasury Providers — a subsidiary of Guggenheim — will supply its Treasury-backed fixed-income product on the XRP Ledger. Absolutely backed by US Treasurys, the product might ultimately be accessible for buy utilizing RLUSD, Ripple’s US dollar-pegged stablecoin.

As a part of the settlement, Ripple has invested $10 million into the asset.