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The price of EOS rose 25% following news of its rebrand to Vaulta and a shift toward web3 banking. EOS ( EOS ) gained 25% to $0.61 after the network announced plans to rebrand as Vaulta to “realize the vision of web3 banking.” In a press release on Tuesday, March 18, EOS said the transition, which includes a token swap, is expected to take place by the end of May, though the timeline still remains subject to change. Yves La Rose, founder and CEO of the Vaulta Foundation, claims the shift represents “more than just a name change,” adding that Vaulta is the “product of years of planning, strategic development, and thoughtful design.” The rebrand follows a prolonged period of weak price performance for EOS, which has struggled to recover not only from its all-time high in 2018 but also from its 2021 levels, which were more than 30% lower than its peak. The transition is described as part of a broader effort to integrate blockchain with traditional financial services. According to the announcement, Vaulta will act as an operating system for web3 banking, aiming to provide scalable and decentralized financial services. The network will also introduce the Vaulta Banking Advisory Council, a group of banking experts tasked with helping to bridge traditional finance with blockchain. Meanwhile, blockchain security firm SlowMist issued a warning about address poisoning attacks on wallets holding EOS. According to the firm, bad actors are sending out 0.001 EOS to users to lure them into unknowingly interacting with fraudulent addresses. These attackers create wallet addresses that closely resemble legitimate ones, hoping users will mistakenly copy and paste the wrong address when making transactions. As part of the rebrand plans, Vaulta will integrate with exSat, a Bitcoin digital banking solution, adding that exSat’s services will “complement Vaulta’s BankingOS,” positioning BTC as a key component of its financial model. Further details, including the new token ticker and additional partnerships, are expected to be announced in the coming months.

Merlin Chain partners with BNB Chain to launch cross-chain bridge Bitcoin (BTC) layer-2 platform Merlin Chain (MERL) announced on X a partnership with BNB Chain, introducing a cross-chain bridge that allows users to transfer $MERL and $mBTC between the two ecosystems. The…

Pro XRP lawyer Bill Morgan has uncovered new details about Ripple’s On-Demand Liquidity (ODL) system. The information comes from Currenc Group’s March 6 SEC filing. The document outlines financial risks and reveals how the 2023 banking crisis impacted Tranglo’s XRP transactions. Tranglo, a key Ripple partner in Southeast Asia, faced severe liquidity challenges after the collapses of Silicon Valley Bank, Signature Bank, and Silvergate Bank. Many crypto exchanges, including two used by Tranglo, struggled to process XRP transactions. Because of this, several ODL partners stopped using XRP for a bit and switched to using regular money they had on hand. The filing explains how the failure of major U.S. banks created a liquidity shortage for crypto markets. Many exchanges relied on these banks for cash flow. When they collapsed, liquidity dried up. Two exchanges that Tranglo used—Independent Reserve and Coins.ph—could not convert XRP into local currencies fast enough. Related: Crypto Lawyer Shares His Take On Ripple’ ODL XRP Sales The disruption forced Tranglo to ask its ODL partners to pause XRP transactions. In response, nine out of eleven ODL partners switched to fiat pre-funding to keep operations running. This showed the risks of relying on crypto for quick cash, especially when traditional banking support is lost. The filing also provides insight into ODL adoption in 2024. It reveals that only seven out of Tranglo’s ninety-three active customers used ODL in the first nine months of the year. These transactions made up 4.8% of Tranglo’s remittance revenue and 3.6% of total payment transactions. While ODL remains part of Tranglo’s business, its limited adoption suggests some partners are hesitant to adopt it after past disruptions. Most have chosen to stick with fiat pre-funding instead of returning to XRP-based settlements. Morgan noted that the filing contains one of the most detailed breakdowns of Tranglo’s ODL system. Pages 82 to 85 explain how XRP facilitates cross-border transactions. A diagram in the prospectus shows the process, confirming that XRP remains integral to Tranglo’s operations. Related: XRP Price Alert: Support Test, Bearish Signals, Bullish Hopes Ripple’s ODL eliminates the need for pre-funded accounts by using XRP as a bridge currency. The system enables faster settlements and lowers costs. However, the 2023 banking crisis revealed its potential weaknesses during liquidity shortages. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

MoonPay has acquired Iron, an API-driven stablecoin infrastructure startup, in a move to enhance its enterprise payment solutions. This marks MoonPay’s second major acquisition in two months, reinforcing its ambition to lead the growing stablecoin payments sector. With Iron’s technology, MoonPay aims to offer businesses instant, low-cost, and borderless stablecoin transactions. The deal mirrors PayPal’s acquisition of Braintree, which helped establish its dominance in credit card processing. “This is our Braintree moment,” MoonPay CEO Ivan Soto-Wright told CNBC. The stablecoin market saw $27 trillion in transactions in 2024, with businesses increasingly adopting blockchain-based payments. MoonPay’s expansion comes amid competition from Stripe, which recently acquired Bridge Network in a $1.1 billion deal. MoonPay, valued at $3.4 billion, reported a 112% increase in net revenue in 2024. Last October, Venmo partnered with MoonPay, enabling its 60 million U.S. users to buy crypto using their Venmo balances. CNBC reporting helped with this article.

Tether CEO Paolo Ardoino shared his thoughts into the future of stablecoins and the impact of new legislation from the White House. Ardoino stated during a Bloomberg TV interview on Thursday that the Trump administration’s recently proposed stablecoin bill can provide regulatory clarity and would benefit the role of digital U.S. dollars. “This bill would unlock very much clarity on the stablecoin role for the future of the U.S. dollar and how we should be managed in a very safe and serious way,” Ardoino explained. He emphasized that Tether’s growth has been remarkable, particularly in emerging markets and developing countries, where the company sees around 40 million new wallets added each quarter. Ardoino also discussed Tether’s strategic partnership with Cantor Fitzgerald. “Our relationship with Cantor is strong and we are grateful to the fact that they onboarded us,” he said. He explained that Cantor conducted thorough due diligence on Tether before deciding to allow them to hold U.S. Treasury bills. “The past administration in the United States just tried to almost kill crypto,” Ardoino added, highlighting the importance of Cantor’s trust and partnership. This relationship reinforces Tether’s credibility within the traditional financial sector, signaling a shift toward broader acceptance of stablecoins in mainstream finance. When asked why Tether is not based in the U.S., Ardoino pointed to the global demand for U.S. dollars. “If you go outside the U.S. and you make a dozen people in the street and you ask them, ‘Would you prefer to hold the U.S. dollar or your national currency?’ they will all choose the dollar,” he said. He further explained that there are 3 billion people “not having access to traditional systems” and are “desperate” to have easy access to the dollar. Tether has strategically positioned itself to meet this demand, contributing to the strength of the dollar abroad while providing financial solutions to underserved populations. Ardoino also discussed the geopolitical importance of stablecoins and how it can positively impact the greenback. “We are building infrastructure in emerging markets, and I believe these are the last strongholds of support for the U.S. dollar,” he noted. This reflects Tether’s strategic positioning to strengthen the dollar’s global presence while addressing financial accessibility challenges in underserved markets. Ardoino’s insights underscore Tether’s pivotal role in the evolving financial landscape, where stablecoins are poised to bridge gaps between traditional and digital economies.