The most important crypto news of the last week

Another exciting week in crypto space is coming to an end. The most important events around BTC and Co. at a glance.

PayPal is working on stablecoin plans

An analysis of the PayPal app source code revealed that the payment service provider is working on its own stablecoin. However, the rumor didn’t have to circulate long for the company to confirm that it was indeed working on such a project.

The stablecoin is said to be backed by the US dollar. PayPal has been enabling customers in the USA and Great Britain to buy BTC and Co. since 2021.

N26 starts crypto business already in 2022

Germany’s largest neobank made it into the limelight with a headline last week. Accordingly, the crypto integration for N26 now a priority.

It could be very interesting for the fintech this year. Because in addition to the crypto business, there is also an IPO on the company’s list.

USA: Inflation rises to 7 percent

Faster than expected: The US Department of Labor announced that the inflation rate had risen to 7 percent. This is the highest level since 1982.

Coinciding with the news, BTC experienced a northbound push. The Fed recently announced that it would raise interest rates earlier than planned.

Polkadot: The first parachain is live

Project moonbeam is now the first parachain live on the Polkadot network. Over 200,000 investors supported the project and got a piece of the cake in return.

The project “only” scored second place in the first round of parachain auctions, ranking behind Acala Network (ACA). Nevertheless, Moonbeam is now the first fully functional parachain in the network.

China goes into NFT space – but without crypto

After the crypto ban in China, the government now wants to work on blockchain solutions on its own. China reportedly wants to build its own non-cryptocurrency NFT infrastructure.

Only the Chinese yuan should be permitted as a means of payment. The project is supported by more than 20 partners – including the Cosmos Blockchain Network.