Shopify Enables USDC Payments, FBI Warns Crypto Firms, and Binance.US Restores USD Ramps with MoonPay Partnership
Summary:
Shopify merchants will soon be able to accept USD Coin (USDC) payments through Solana Pay, while the FBI warns crypto firms about six Bitcoin wallets tied to a North Korean hacker group. Binance.US partners with MoonPay to restore USD ramps for users after being crypto-only for two months.
Shopify merchants will soon have the option to accept USD Coin (USDC) payments through Solana Pay, a platform that enables peer-to-peer cryptocurrency transactions. This move by Shopify could potentially lead to wider adoption of stablecoins. By integrating Solana Pay, merchants can reduce transaction costs compared to traditional credit card processing. The average transaction fee on the Solana network is currently $0.00025. Shopify, which facilitates approximately 10% of all e-commerce transactions in the US, is expanding its presence in the Web3 space and recently introduced a suite of blockchain commerce tools.
The FBI has identified six Bitcoin wallets associated with Lazarus, a North Korean hacker group. With 1,580 BTC worth $40 million, these wallets are believed to contain funds obtained through various cryptocurrency hacks over the past year. The FBI has alerted cryptocurrency firms to be vigilant and monitor these wallets for any movement of funds, as it may indicate that Lazarus is planning to sell. Lazarus has been involved in multiple crypto-related exploits and has stolen nearly $2 billion in cryptocurrency since 2018. Investigators have noted that although blockchain technology makes it difficult for hackers to launder or move their stolen funds, collaborations between law enforcement agencies and crypto companies have resulted in freezing these illicit assets in the past.
Binance.US has partnered with MoonPay to restore U.S. dollar ramps for its users. This collaboration allows Binance.US users to purchase the stablecoin Tether (USDT) using U.S. dollars. Due to issues with banking partner relationships, Binance.US had temporarily become a crypto-only platform, ceasing fiat deposits on June 9. The exchange attributed this disruption to the "aggressive and intimidating" actions of the Securities and Exchange Commission, which had filed a lawsuit against Binance.US and its affiliates. While direct bank deposits remain disabled, the MoonPay integration provides ramps for debit and credit cards, as well as Apple and Google Pay, facilitating the deposit and withdrawal of funds with Binance.US using dollars.
Published At
8/23/2023 7:41:31 PM
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