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TRON Price Gains Attention Amid Hamilton Lane Tokenized Fund Launch

By | Edited By Messam Raza,,

There is an escalating level of institutional interest in tokenized assets. The TRON blockchain is now the most recent blockchain to have a large-scale private credit offering within the tokenized asset space. At press time, TRON price was trading at $0.3373, down 1.83% over the past 24 hours.

TRON Price Holds Near $0.337 After Recent Pullback

The TradingView chart indicates that TRON price had previously risen towards resistance near $0.38, while TRON continues to trade close to the region of support at $0.337. Even with price pulling back from its high, TRX still trades at higher values than those seen earlier this year.

In addition to this price action, the On-Balance Volume (OBV) continues to be elevated, which indicates that there remains a strong amount of participation in the market despite changes in momentum.

Source: TradingView

Also Read: TRX Price Eyes $0.366 Breakout as Inverse Head and Shoulders Pattern Forms

TRON Price in Focus Following Hamilton Lane Fund Launch

Recently, Hamilton Lane’s tokenized Senior Credit Opportunities Fund (HLSCOPE) launched on the TRON ecosystem via Securitize, according to a recent announcement.

This new launch marks the first Securitize-issued digital asset on the TRON platform, as the launch provides a new way for investors to access the vibrant tokenized private credit sector.

This development represents another significant milestone for the growing trend of real-world assets (RWAs) and the ongoing integration of blockchain technology into traditional financial markets.

While this news did not provoke a significant spike in TRON value, it does emphasize TRON’s ongoing interest in building institutional-level alternative financial instruments within its ecosystem.

At approximately $0.337, TRON continues to be vulnerable to short-term price declines, although the launch of HLSCOPE will support additional efforts by the TRON ecosystem to build a presence in the RWA space. Investors will likely be monitoring both ecosystem developments and critical support levels in the near term.

Also Read: TRX Price Holds Key Support as Bulls Eye a Potential Rally Toward $3 Target

Ethereum Analyst Cites 3-Day Chart Pattern Before Dip

By | Edited By Ammar Raza,,

Ethereum is drawing attention after a market analyst highlighted a recurring pattern on the cryptocurrency’s three-day chart. The analyst suggests that Ethereum may be approaching a final corrective phase before potentially resuming its broader upward trend, pointing to similarities with structures observed during previous market cycles.

Repeating Chart Structure Draws Attention

According to the analyst, Ethereum’s current price action resembles formations seen in earlier bullish cycles. The comparison focuses on a sequence of consolidation, breakdown, and recovery phases that appeared before major upward movements in the past. Technical analysts often study such recurring structures to identify potential market trends.

Ethereums repeating chart structure draws attention
Source: Trader Tardigrade

The chart shared by the analyst highlights several periods where Ethereum experienced sharp pullbacks before establishing new highs. In each instance, the asset moved through a correction phase before regaining momentum. While historical patterns do not guarantee future outcomes, they remain a common tool for assessing market sentiment.

Also Read: Ethereum Price Nears Critical Support as Bulls Eye $2,360 Resistance Zone

Current Pullback Viewed as Potential Final Dip

The analyst believes Ethereum may be entering what is described as a “final dip” phase. This interpretation is based on the position of the current price structure within a rising channel that appears similar to previous cycle formations. Traders often monitor these setups for signs of support and potential reversals.

A final corrective move could allow the market to clear excess speculation before a new trend develops. Such pullbacks are common in volatile cryptocurrency markets and can occur even during broader bullish periods. Market participants continue to watch whether ETH maintains key support levels during the current consolidation.

Technical Analysis Remains a Key Market Tool

Chart-based analysis remains one of the most widely used methods for evaluating cryptocurrency markets. Traders rely on trend lines, support zones, resistance levels, and recurring formations to assess possible future price movements. ETH’s large market capitalization makes it one of the most closely analyzed digital assets.

Despite the popularity of technical analysis, experts often caution against treating chart patterns as certainty. External factors such as macroeconomic developments, regulatory changes, and market liquidity can significantly influence price behavior. As a result, technical indicators are generally used alongside broader market analysis.

Broader Ethereum Market Outlook

ETH continues to play a central role in the digital asset ecosystem through decentralized finance, tokenization, and blockchain-based applications. Its network activity and ecosystem growth remain important factors influencing investor sentiment. These fundamentals often contribute to long-term market outlooks alongside technical signals.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Bitmine Expands Ethereum Treasury to 5.42 Million ETH, Nears 5% Supply Target

TAO Holds Near $250 as Analyst Tracks Key $225 Support

By | Edited By Ammar Raza,,

Bittensor’s native token, TAO, is trading near the $250 level as market participants closely watch a key support zone around $225. Recent technical analysis highlights the importance of current price levels, with traders assessing whether the asset can stabilize after a series of lower highs since its November 2025 peak near $500.

The discussion comes as institutional interest in AI-focused crypto assets continues to grow ahead of potential ETF-related developments later in 2026.

$250 Emerges as a Key Price Level

According to chart analysis, the $248–$250 range has repeatedly acted as an important level for TAO over the past two years. The area previously served as support during parts of 2024 and later functioned as resistance in early 2026, making it a closely watched zone for traders.

$250 emerges as a key price level for TAO
Source: TradingView

The token is currently trading near this level once again, creating a technical test for both buyers and sellers. Market participants often pay close attention to such recurring levels because they can influence short-term price direction and trading activity.

Also Read: TAO Price Consolidation Tightens Above $200 as Traders Await Major Breakout

Lower Highs Define Current Market Structure

Since reaching a high near $500 in November 2025, TAO has formed a pattern of lower highs. Recovery attempts have faced selling pressure at progressively lower levels, including around $385 in March and approximately $335 in May.

This structure suggests that the broader trend remains under pressure despite occasional rallies. Technical analysts generally view a sequence of lower highs as a sign that buyers have yet to regain full control of market momentum.

However, the asset has continued to trade above its January 2026 low, indicating that long-term support remains intact for now. Whether this trend changes could depend on how the token behaves around current support zones.

January Volume Spike Remains a Focus

One of the most notable events on the TAO chart occurred in January 2026 when the asset reached a low near $150. During that period, trading volume surged to its highest level in roughly two years, signaling significant market activity.

Large volume spikes during sharp declines are often interpreted as potential capitulation events. Some traders believe such periods can mark the formation of longer-term market bottoms, especially when subsequent lows remain above that level.

Since January, TAO has not revisited the $150 region. Instead, each major correction has produced a higher low, a development that some analysts view as a constructive sign despite the broader downtrend.

ETF Developments and Network Growth in Focus

Beyond technical analysis, investors are also monitoring institutional developments surrounding TAO. Market participants are watching potential ETF-related applications from asset managers, with regulatory decisions expected later in 2026.

At the same time, the Bittensor ecosystem continues to expand through subnet growth and network upgrades. Supporters argue that ongoing development activity may eventually influence market sentiment if adoption continues to increase.

For now, traders remain focused on the $225 support level and the $280–$300 resistance range. A move above resistance could improve market structure, while a breakdown below support may expose lower price levels.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Bittensor (TAO) Price Outlook: Can Bulls Defend $234?

Solana Logs 8 Straight Red Months, Down 36.4% in 2026

By | Edited By Ammar Raza,,

Solana (SOL) has recorded eight consecutive monthly declines, marking the longest losing streak in the cryptocurrency’s history. The asset is down 36.4% so far in 2026, according to market data shared by analysts, placing its performance close to Ethereum’s 33.5% decline over the same period.

The trend has sparked discussion among traders about broader market conditions and the changing relationship between major layer-1 blockchain networks.

Solana Records Historic Eight-Month Losing Streak

The latest market data shows that Solana has closed eight consecutive months in negative territory. This marks the first time the cryptocurrency has experienced such an extended sequence of monthly losses since its launch.

Solana records historic eight-month losing streak
Source: cryptorank

The streak highlights the pressure that has affected many digital assets during 2026. While SOL remains one of the largest blockchain networks by market capitalization, the prolonged decline has raised concerns about investor sentiment and market momentum.

Also Read: Solana Price Eyes Rebound Toward $87 Despite Falling Market Activity

SOL and Ethereum Show Similar Performance Trends

Analysts have pointed out that Solana’s 36.4% decline this year is not far from Ethereum’s 33.5% drop over the same period. The comparison has attracted attention because Solana has often been viewed as a faster-growing alternative to Ethereum.

For several years, investors frequently compared SOL’s growth trajectory with Ethereum’s position in decentralized finance and blockchain infrastructure. However, the recent performance data suggests that both assets have been influenced by similar macroeconomic and market-wide factors.

Market Conditions Continue to Weigh on Risk Assets

The broader cryptocurrency market has faced persistent volatility throughout 2026. Rising uncertainty across financial markets, combined with changing investor risk appetite, has contributed to pressure on digital assets. Solana’s recent performance reflects these wider market conditions rather than network-specific developments alone.

Many cryptocurrencies have struggled to maintain upward momentum despite continued technological upgrades and ecosystem activity. At the same time, trading volumes have remained active across major exchanges. This suggests that while prices have weakened, investor participation has not disappeared from the market.

Long-Term Network Growth Remains in Focus

Despite the price decline, Solana continues to maintain a significant presence within the blockchain industry. The network remains active in areas such as decentralized finance, non-fungible tokens, and payment applications.

Developers continue to build applications on the platform, while institutions and venture-backed projects remain involved in the ecosystem. Supporters argue that network adoption and technological development should be evaluated separately from short-term price fluctuations.

Whether Solana can reverse its current trend may depend on broader market recovery and renewed investor confidence. For now, traders are closely monitoring price action as the asset attempts to stabilize following its longest monthly losing streak on record.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Solana Price Range Tightens As Open Interest Drops and $87–$88 Resistance Holds

ZEC Price Forecast: Can It Rally Toward $1,050 After Recent Correction?

By | Edited By Ammar Raza,,

Zcash (ZEC) remains in a broader bullish trend despite a recent pullback after a strong rally. The ZEC price may consolidate before its next move, and if support holds, the uptrend could resume with potential upside toward higher resistance levels around previous projected targets.

At the time of writing, ZEC is trading at $529.41 with a 24-hour trading volume of $877.84 million and a market capitalization of $8.84 billion. Despite the 3.76% loss over the last 24 hours, the ZEC price structure and rising volume point to a bullish reversal.

ZEC Price Chart

Source: CoinMarketCap

ZEC Price Setup Points to a Bullish Rally Toward $1,050

Furthermore, the crypto analyst Chiefrat highlighted that ZEC has drawn renewed attention after revisiting the $680 zone, reinforcing its broader bullish structure. 

Previously highlighted near the $200 range as a potential trend driver, the ZEC price has now transitioned into a phase where former resistance levels are being tested as support, signaling continued market strength within its ongoing uptrend.

Source: Chiefrat’s X Post

Analysts now expect a brief consolidation phase for the ZEC price as momentum cools and the market stabilizes above recent gains. If support holds, the next projected upside region lies between $960 and $1050. 

This scenario depends on sustained buying pressure and structural confirmation, but overall sentiment suggests continuation of the broader trend rather than reversal at current levels.

Also Read: ZEC Price Analysis: Bullish Breakout Points to a Rally to $700 Resistance

ZEC Technical Outlook Points to Short-Term Pressure

According to TradingView, the ZEC price has enjoyed a strong uptrend in its macro picture, recently transitioning to a corrective period. 

The ZEC price ranged from around $200 to $300 for April before surging to $700.00. However, the latest candle shows an impressive 6.69% drop down to $530.24, closing lower than its open price during the period.

ZEC Technical Outlook Points to Short-Term Pressure

Source: TradingView

From a technical perspective, this current slide seems to be targeting and penetrating some key levels of dynamic support. The ZEC price has broken below the 20-day EMA at 556.72 and the Bollinger Middle Band. 

In the event that the downtrend continues, then buyers should look to find a good level of support at the 50-day EMA or Bollinger Lower Band.

Rising Volume Reveals Upward Potential

However, the trading volume of ZEC increased by 60.19% to $3.54B, indicating greater levels of trading activities and involvement. The increase signifies higher involvement from traders, given that there have been many more trades compared to previous intervals.

Rising Volume Reveals Upward Potential

Source: Coinglass

The open interest fell by 5.77%, totaling $1.12 billion. This indicates that there are fewer contracts held on the exchange. This indicates that there is a profit-taking strategy going on. This suggests a sense of caution among traders.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: ZEC Price Analysis: $500 Support Level Becomes Make-or-Break Zone for Bulls

HIVE Bitcoin Holdings Drop by 331 BTC as Revenue Climbs

By | Edited By Ammar Raza,,

HIVE Bitcoin holdings declined in the latest quarter, even as HIVE Digital Technologies reported stronger annual revenue from mining and high-performance computing. The Canadian Bitcoin miner ended the fiscal year with 150 BTC, down from 481 BTC at the end of Q4 2025. The drop showed a reduction of 331 BTC during the quarter.

As per the report, the reduction in HIVE Bitcoin holdings was worth approximately $23 million at current prices. CoinGecko data showed that Bitcoin’s year-to-date price drop was about 21.5%, which also decreased the market value of miner-held reserves.

Also Read: Anthropic IPO Heralds Promising New Era for Tech in 2026

HIVE Reports 2,885 BTC Mined in Fiscal 2026

HIVE did not directly say it sold Bitcoin. The company said it mined 2,885 BTC during fiscal 2026 and generated $297.8 million in revenue.

That revenue was up 158% from the previous year. The increase was primarily due to increased Bitcoin mining operations and increased revenues from high-performance computing services.

The reduction in HIVE bitcoin holdings is a testament to the company’s treasury management strategy during a time of rapid growth. Public miners continue to face higher costs as they build larger mining sites and add new computing businesses.

Digital currency mining continued to be HIVE’s biggest income source. The segment brought in $278.3 million in the fiscal year.

There was an increase of $19.5 million in high-performance computing revenues. That was nearly double the previous year’s total of $10 million from the business.

Source: HIVE Digital

Costs also increased during the year. As HIVE grew its mining and data center business, it incurred additional operating and maintenance costs.

HIVE Bitcoin Holdings Decline as HPC Revenue Grows

Depreciation reached $170.4 million. This was almost triple from the previous year and was one of the biggest costs on the income statement.

HIVE stated that its HPC segment grew as a result of demand for AI computing services. By the end of the year, the company had $35 million of contracted annual recurring revenue from that business.

The company attributed the figure to Nvidia-powered GPU cluster deployments and to new enterprise contracts. It also referenced a proposed 320 MW AI data center project in the Greater Toronto Area.

HIVE estimated that the project could eventually accommodate over 100,000 GPUs. The roadmap coincides with its ongoing expansion from Bitcoin mining to AI infrastructure.

HIVE’s revenue surged significantly as the Bitcoin holdings went down. It also reflects the pressure on the public miners due to the rise in the cost of expansion and the increase in the competition of mining.

Also Read: Bitcoin Price Eyes Explosive 11% Surge in 5 Days

Arbitrum Price Prediction: Descending Wedge Signals Breakout to $0.59

By | Edited By Ammar Raza,,

Arbitrum (ARB) is compressing in a long-term bearish wedge, suggesting a possible volatility breakout for the Arbitrum price if momentum strengthens.

Technical signals still show downside pressure, while moving averages and momentum indicators remain weak. Despite this, its strong Layer 2 ecosystem and growing DeFi and privacy tools support long-term potential.

At the time of writing, ARB is trading at $0.09946 with a 24-hour trading volume of $66.65 million and a market capitalization of $623.89 billion. Following the 1.88% loss over the last 24 hours, the ARB price structure and growing adoption point to a bullish reversal.

Arbitrum price chart

Source: CoinMarketCap

Arbitrum Price Breakout Signals 6X Rally Toward $0.59

According to the crypto analyst Atakan Altun Öz, Arbitrum is pressing into the apex of a long descending wedge that has defined months of bearish compression. 

The Arbitrum price near $0.1048 shows seller exhaustion as repeated lower-bound tests hold. This tightening structure signals potential volatility expansion, with early breakout validation targeting the first resistance zone around $0.2189 if momentum confirms.

Arbitrum Price Breakout Signals 6X Rally Toward $0.59

Source: Atakan Altun Öz’s X Post

With this pattern remaining strong and volume backing it up, the full target for this measured move is seen as $0.5998, coinciding with prior structurally high prices, and pointing to a potential rise of 600%. 

This sort of setup usually develops following an accumulation phase and could lead to fast changes in valuation. However, validation would be required, as a failed breakout tends to drag the Arbitrum price back into a range.

Also Read: Arbitrum Price Outlook: Support Retest Could Drive Next Move Toward $0.16

MACD Bearish Crossover Reveals Downward Pressure

According to TradingView, from late February until June 2026, the Arbitrum price exhibits very volatile movements. After experiencing an impressive drop to the level of $0.08800 in April, the asset rallied to reach a high level of $0.15000 in May. 

However, heavy sell-off caused the Arbitrum price to fall significantly to a level of $0.09925, resulting in a decline of 4.10%.

MACD Bearish Crossover Reveals Downward Pressure

Source: TradingView

Technical indicators add weight to the stubborn bearish sentiment. The Arbitrum price weaves around the lower Bollinger Band at 0.09399, way below the 20-day simple moving average at 0.11192. 

On the other hand, the MACD line crosses below the signal line while the rising red bars indicate an increasing momentum without any signs of slowing down.

Arbitrum Strengthens DeFi Lead With Privacy Innovation

The data from AmericanFortress further highlighted that Arbitrum has become a frontrunner Layer 2 hub, having a total value locked of around $16 billion and accounting for almost 40% of the layer 2 space. 

Its ecosystem includes highly liquid DeFi solutions like GMX, Variational, and USDai to form an exceptionally advanced on-chain financial stack. Such an array of options has made Arbitrum a focal point of trading and investment.

Arbitrum Strengthens DeFi Lead With Privacy Innovation

Source: AmericanFortress’ X Post

However, this kind of transparency makes everything visible, from sizes to entries and counterparties, all accessible via publicly available blockchain explorers. 

Now, with AmericanFortress beta on Arbitrum, privacy-first transactions are available to the users who can now send their tokens anonymously, without using any mixers or compromising on compliance.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Arbitrum Price Analysis: Falling Wedge Breakout Hints at a Rally Toward $0.131

RedotPay Unveils Connect Gateway for Stablecoin Payments

By | Edited By Ammar Raza,,

RedotPay launched RedotPay Connect at Money20/20 Europe, introducing a merchant gateway for stablecoin payments. The platform allows businesses to accept crypto wallet transfers and receive settlement in local currencies, including USD, EUR, and GBP instantly.

According to the company report, merchants can integrate one way to accept payments from crypto wallets. It claimed this product would help businesses save up to 70% in their processing costs as opposed to the card and banking systems. 

Also Read: RedotPay Launches GMC Entity to Boost Stablecoin Payments

Stablecoin Payments Aim to Reduce Merchant Costs

According to RedotPay, the offering will also provide greater merchant access to users of cryptocurrency in global digital markets by enabling stablecoin payments.

Connect is designed to address payment problems that have hindered the use of crypto in commerce. These include high transaction costs, technical complexity, and price volatility linked to digital assets.

The gateway enables merchants to accept stablecoin payments and get settled in the local currency. RedotPay said this model helps businesses serve crypto users without holding or managing cryptocurrencies on their own balance sheets.

The service includes support for big wallets like Coinbase Wallet and MetaMask. That support enables customers to pay with the crypto tools they know how to use, while merchants can receive stablecoin payments via a business-friendly settlement structure.

Source: RedotPay

Jonathan Chan, Head of Partnerships and Co-Founder of RedotPay, stated that merchants have been dealing with excessive fees and crypto volatility for too long. He said the company didn’t just create a gateway; it created a bridge.

RedotPay Skill to Connect AI Agents With Payments

RedotPay also used the launch to outline its next payment plans. The company stated it is working on AI tools that would enable AI agents to make transactions with stablecoins without payment cards.

RedotPay Skill will be available from the company later this month. It aims to integrate AI agents into RedotPay’s payment network, enabling AI-driven software to initiate and finalize transactions via stablecoin payments.

The future of RedotPay is in digital assets and autonomous agents enabling commerce at scale. As AI capabilities continue to progress, these systems could enable seamless cross-border transactions.

RedotPay Connect joins a rapidly expanding ecosystem of merchant tools focused on stablecoin payments. It brings together crypto wallets, local currency settlement, and upcoming AI payment capabilities into a unified merchant-centric platform.

Also Read: Quant Network Launches Fusion Rollup Connecting 74 Blockchain Networks

Chainlink Price Prediction: LINK Eyes Breakout to $11 After Key Support Retest

By | Edited By Ammar Raza,,

Chainlink (LINK) is testing a key support level after recent losses, with analysts watching for a rebound toward higher resistance zones for the Chainlink price. Despite bearish technical indicators, the Chainlink gained attention after enabling a major cross-chain institutional settlement involving J.P. Morgan and Ondo Finance.

At the time of writing, LINK is trading at $8.86 with a 24-hour trading volume of $318.84 million and a market capitalization of $6.45 billion. Despite the 2.46% loss over the last 24 hours, the LINK price structure and institutional adoption point to a bullish reversal.

Chainlink price chart

Source: CoinMarketCap

Chainlink Price Eyes $11 After Testing Major Support

According to the crypto analyst Ali Charts, LINK is retesting the lower boundary of its trading channel after facing recent market pressure. Analysts believe this zone could become a strong support area if buyers return with momentum. 

The Chainlink price remains technically structured within its broader trend, making the current level important for traders watching for signs of a potential rebound.

Chainlink Price Eyes $11 After Testing Major Support

Source: Ali Charts’ X Post

In case the bullish momentum continues gaining momentum, then traders are considering $10.10 and $11 as the probable resistances on the upside. 

If the Chainlink price breaks out from these zones, there will be an improvement in investor sentiment, thus resulting in a stronger rebound in prices. On the other hand, failure to maintain support may make the token susceptible to downward moves.

Also Read: Chainlink Price Stalls in Falling Wedge as Breakout Signal Builds Near $9.9

LINK Faces Pressure Below Key Moving Averages

According to TradingView, there is an indication that the Chainlink price is witnessing a bearish turnaround following a high point in May. It soared above the $10.50 price point only for it to face stiff resistance, leading to a dramatic fall in value until June. 

At about $8.88900, the Chainlink price experienced a drop in value by 2.70%, falling below the 20 EMA ($9.38019) and the 50 EMA ($9.45794).

LINK Faces Pressure Below Key Moving Averages

Source: TradingView

As per technical analysis, there is a strong ceiling in the form of resistance above along with diminishing momentum. 

The Chianlink price remains firmly trapped well below its key 100 EMA of 9.75352 and 200 EMA of 11.08957, indicating that there is a downward trend. On the other hand, the RSI indicator is trading at 37.41, which is below its signal level of 43.38.

Chainlink CRE Enables Institutional Cross-Chain Deal

The data from Chainlink further highlighted that the Kinexys project, which is a joint venture between J.P. Morgan, Chainlink, and Ondo Finance have reached a breakthrough with their atomic settlement of a tokenized asset across chains. 

This development marks an important milestone in terms of adoption of blockchain technology by institutions, linking a banking blockchain to a Layer-1 chain.

Chainlink CRE Enables Institutional Cross-Chain Deal

Source: Chainlink’s X Post

The solution used the Cross-Chain Runtime Environment (CRE) provided by Chainlink, facilitating the secure transfer of funds without any risks across different blockchains. 

This is an example of how tokenization and interoperability will revolutionize finance, and it demonstrates Chainlink’s importance as a key infrastructure firm connecting major financial firms with the blockchain economy.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Chainlink Price Consolidation Near $9 Points to a Possible Breakout Toward $11

MoneyGram Launches MGUSD Stablecoin to Power Its Global Payments Network

By | Edited By Ammar Raza,,

The MoneyGram launch of MGUSD introduces a native U.S. dollar stablecoin designed to support the company’s expanding blockchain payments network.

Built on Stellar and supported by Bridge, M0, and Fireblocks, the MoneyGram launch aims to improve cross-border transfers, provide stable digital dollar access, and expand financial services globally.

MoneyGram Launch Introduces MGUSD Stablecoin

MoneyGram has launched MGUSD, a native U.S. dollar stablecoin built on the Stellar blockchain, marking a major step in its expansion of blockchain-powered payments infrastructure across its global network.

The MoneyGram launch aims to strengthen digital payments infrastructure while serving families that send money across borders and people with limited access to traditional financial services.

MoneyGram launched MGUSD
Source: @CryptooIndia

The company said MGUSD will act as the foundation for future blockchain-powered products.

By integrating stablecoin technology into its network, MoneyGram seeks to create a more connected and efficient financial ecosystem for customers worldwide.

Also Read: Stellar Price Surges 26% as Developer Activity Tops Web3 Rankings

Partnerships Strengthen Blockchain Infrastructure

Several technology firms are supporting the MoneyGram launch of MGUSD. Bridge, a Stripe company, serves as the regulated issuer of the stablecoin.

M0 provides the smart contract infrastructure for minting and burning tokens, while Stellar hosts the stablecoin at launch. Fireblocks wallets store MGUSD before it is transferred to customer wallets embedded within the MoneyGram app.

As per MoneyGram’s plan, they would like to integrate the MGUSD token into the wallet that customers own themselves through their app.

The customers can thus keep a stable dollar-based balance as well as access the digital cash balance through the stablecoin platform.

Stablecoin Targets Global Money Movement

The MoneyGram launch is aimed at ordinary consumers seeking reliability, reduced costs, and continuous use of an array of financial services.

The MGUSD cryptocurrency is meant for individuals transferring funds from one country to another, not crypto enthusiasts.

In markets facing inflation, currency devaluation, or difficulty accessing banks, MGUSD allows you to store your U.S. dollars in a digital wallet and transfer them to any corner of the globe, converting them into whichever currency suits you best.

According to MoneyGram, this stablecoin could expand financial access. The adoption of MGUSD represents yet another step that builds on the success of MoneyGram’s partnership with the Stellar Development Foundation over many years.

As a company operating in 500,000 retail locations around the globe, MoneyGram works with more than 60 million active clients and moves more than 70% of transactions online.

It seeks to establish an interconnected payment system through its work with blockchain-based solutions.

Also Read: Bitcoin Spring Rally: 16-Week Fakeout Before Strong Crash?