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Stablecoin Yield Means Banks Must Now offer Customers Real Interest
Crypto Trends

Stablecoin Yield Means Banks Must Now offer Customers Real Interest

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Stablecoins, tokenized versions of fiat currencies that move on blockchain rails, will eventually force banks and other financial institutions to offer customers yields on their deposits to remain competitive, according to Patrick Collison, CEO of payments company Stripe.

The average interest rate for US savings accounts is 0.40%, and in the EU, the average rate on savings accounts is 0.25%, Collison said in response to VC Nic Carter’s X post outlining the rise of yield-bearing stablecoins and the future of the sector. Collison added:

“Depositors are going to, and should, earn something closer to a market return on their capital. Some lobbies are currently pushing post-GENIUS to further restrict any kinds of rewards associated with stablecoin deposits. 

The business imperative here is clear — cheap deposits are great, but being so consumer-hostile feels to me like a losing position,” he continued.

Source: Patrick Collison

Stablecoins have steadily grown in market capitalization and user adoption since 2023, which ramped up following the passage of the GENIUS stablecoin bill in the United States. The GENIUS bill paved the way for a regulated stablecoin industry but also prohibited yield-sharing.

Related: Stablecoin market boom to $300B is ‘rocket fuel’ for crypto rally

Banking Industry fights to restrict yield-bearing opportunities for stablecoins

The banking lobby pushed back against interest-bearing stablecoins while US lawmakers were deliberating what provisions to include in the final draft of the GENIUS stablecoin regulation, according to a report from American Banker.

Banks and their Congressional allies argued that stablecoins offering interest-bearing opportunities to clients would undermine the banking system and erode market share.

“Do you want a stablecoin issuer to be able to issue interest? Probably not, because if they are issuing interest, there is no reason to put your money in a local bank,” New York senator Kirsten Gillibrand told the DC Blockchain Summit in March.

However, crypto industry executives see the rise of stablecoins as the next logical progression and predict that stablecoins will consume legacy fiat payments.

“All currency will be a stablecoin. So even fiat currency will be a stablecoin. It’ll just be called dollars, euros, or yen,” Reeve Collins, co-founder of stablecoin issuer Tether, told Cointelegraph at Token2049.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight



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American Express Offers NFT Passport Stamp Feature For Customers
NFT Gaming

American Express Offers NFT Passport Stamp Feature For Customers

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Payments company American Express has launched blockchain-based stamps for customers as a digital keepsake of their travels.

Each travel stamp will be stored as an ERC-721 non-fungible token on the Ethereum layer-2 Base to preserve their travel history and their favorite overseas memories, according to the company’s website. 

“Part of the magic of travel is reminiscing about past getaways, and commemorative keepsakes are a powerful way for travelers to relive their favorite trips,” Amex Digital Labs Executive Vice President Luke Gebb said on Monday. 

“As physical passport stamps continue to disappear, Amex Passport creates an opportunity for Card Members to celebrate their travels.” 

Each stamp can be customized to highlight the best experiences from each trip, such as a special attraction, standout meal, or hotel stay, or favorite activity, Amex said.

Only those holding a US Amex consumer card linked to their online account are eligible for the Amex Passport, and the NFTs cannot be transferred.

Examples of Amex passport stamps. Source: American Express

Each stamp will only show the country or region of the stamp, stamp description, and the date of when the stamp was earned, Amex said, adding that personal information and trip details won’t be visible on Base. 

Data from Base’s block explorer, BaseScan, shows that the Amex travel stamp smart contract was created 25 days ago.

The development is the latest example of a public blockchain helping corporations and their users securely store data without a centralized server. 

Last month, the US Department of Commerce said it would start publishing economic statistics, including gross domestic product data, on the blockchain. 

NFT travel stamps coincide with demand for digital keepsakes

Demand for new travel stamp solutions is strong, too, according to a recent Amex survey, which found 73% of respondents wanted more ways to commemorate past trips digitally.

Another 56% said they missed receiving passport stamps when arriving in a new country.

Examples of hotel stamps for Amex customers traveling overseas. Source: American Express

Amex travel stamps can be shared on social media or saved to a camera roll, and trips booked through Amex up to two years ago will be automatically added for customers.

Crypto is slowly being integrated into the tourism sector 

The crypto travel industry remains relatively niche but has picked up the pace in recent months.

Related: Blue chip NFTs sink double digits as ETH retreats from record highs

In February, crypto-native travel platform Travala integrated crypto payment options for 2.2 million hotels on Trivago, a hotel metasearch engine that allows users to compare accommodation prices from various booking sites.

Data from Travala in May showed crypto users typically spend three times more for an average hotel stay and typically stay longer in a certain place to accompany their flexible and remote working lifestyles.

Meanwhile, Triple-A data states that 14% of crypto transactions were spent on travel and hospitality in 2024, while more airlines started accepting crypto for bookings.

Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?



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Product Reviews

Amazon is reportedly developing separate AR glasses for customers and its drivers

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Amazon may be muscling into the field of augmented reality glasses. According to a report by The Information, sources claimed that the company is working on AR glasses for consumers, allegedly with plans to release the product in late 2026 or early 2027.

Insiders told the publication that the project, internally dubbed Jayhawk, would equip AR glasses with microphones, speakers, a camera and a full-color display in one eye. Amazon is reportedly using Chinese company Meta-Bounds for the AR tech.

Amazon is also working on a separate model of AR glasses specifically for its delivery drivers under the codename Amelia. This productivity-focused option, which would reportedly shave seconds off drivers’ times, could be ready by the second quarter of 2026, according to The Information‘s sources.

If Amazon does release these AR sets, it will primarily be in competition with Meta, which already sells simpler smart glasses with Ray-Ban. The social media company is expected to launch a new product currently dubbed Hypernova at its Connect conference next week, a set that pushes more into a true augmented reality experience with a similar one-eye AR concept.



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Verizon is down for many customers in the US
Gaming Gear

Verizon is down for many customers in the US

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Verizon has confirmed to customers in stores and online that its network is having an issue on Saturday. Many people have been unable to connect and make or receive calls for hours, while DownDetector’s tracker peaked in the afternoon at around 3:30PM ET with more than 20,000 reports. Some customers report their service has continued to function throughout the day, so it’s unclear what the cause is exactly.

Downdetector’s outage map showed hotspots in many cities, and Verizon didn’t specifically list affected areas. On X, the @VerizonSupport account confirmed the issue in response to customers’ questions, but didn’t have additional details on restoration or how widespread it is.

Verizon’s Karen Schulz responded to our inquiry about the issue and confirmed the outage via email, saying,

We are aware of a software issue impacting wireless service for some customers. Our engineers are engaged and we are working quickly to identify and solve the issue. Please visit our Check Network Status page for updates on service in your area. We know how much people rely on Verizon and apologize for any inconvenience. We appreciate your patience.

If there’s any additional information or the situation changes, we will update this post.



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Volkswagen Singapore Lets Customers Pay In Crypto Via Fomo Pay
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Volkswagen Singapore Lets Customers Pay in Crypto via FOMO Pay

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Volkswagen Singapore is moving fast to transform car buying by letting customers pay with cryptocurrencies. The company partnered with FOMO Pay, a local firm, to allow customers to make payments using Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT and USDC. 

As per the release, a survey done recently shows that about one in four Singaporeans now own digital assets, highlighting a growing interest in digital currencies. Volkswagen Singapore is responding by offering more modern and flexible ways to pay.

The integration with FOMO Pay ensures secure and efficient transactions. Dr. Kurt Leitner, Managing Director of VGS, explained, “An increasing number of consumers today are digital natives. 

They expect speed and convenience across all touchpoints, including how they pay.” The partnership targets partial payments for new vehicles and aftersales services, with daily transaction limits of SGD 4,500 and a maximum of SGD 13,500 to prevent misuse.

How VGS Implements Crypto Payments

VGS handles digital assets transactions through the enterprise architecture of FOMO Pay. The gateway makes sure that there is alignment with local regulations and offers up-to-the-minute currency rates. This means customers can enjoy easy payments, while the business maintains a clear and open operation.

Furthermore, this integration supports Singapore’s goal of creating a digital economy. Rose Wang, Head of Digital Payments at FOMO Pay, noted, “As Singapore advances toward becoming a smart financial center, we believe digital assets will continue to play an important role in improving customer experience.”

However, VGS also emphasizes customer choice. FOMO Pay accepts hybrid and fiat payment methods for both online and offline purchases. The multi-channel strategy helps VGS be dedicated to providing a mobility experience.

Volkswagen Singapore is making it easier for customers to pay with digital currencies. This shift is changing the way people engage with premium brands. By embracing cryptocurrency, VGS is not only offering greater convenience and security but also adding flexibility to the mix, all while modernizing its payment systems for a fresh, contemporary experience.

Also Read: Solana Expands to Dubai With First Official Hub



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Product Reviews

Steam launches ‘language-specific’ review scores, because ‘customers in different regions of the world may have vastly different experiences from each other for the same game’

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In its never-ending quest to achieve algorithmic nirvana, Valve has updated Steam’s user review scoring system “for some games” to be calculated based on the language in which they were written.

“When there are enough reviews written in a particular language, Steam will calculate a review score for that language,” Valve explained. “The Review Score displayed to users will be based on their primary language. What this means is that some languages may show more positive review scores, while others may show more negative ones, for the same game.”

The language-specific review breakdown will be provided for any game with more than 2,000 public user reviews, at least 200 of which are written in at least one language. Valve said the thresholds are higher than the 10 reviews required to calculate an overall review score “because we wanted to be pretty confident in the language-specific score before showing it to users.”


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Of course, this is Steam, and that means you can dive deeper into the numbers if you want to. Hovering the “Language” dropdown in the user reviews menu bar, for instance, will provide a quick-and-dirty breakdown of a game’s rating in every applicable language. This, for instance, is the rating breakdown for The First Descendant, which is very obviously all over the map—”mostly negative” for Simplified Chinese, “very positive” for Portuguese and Dutch.

(Image credit: Steam)

There’s also a new language-breakdown popup option, which displays basically the same information, but bigger and in color:

(Image credit: Steam)

The new language-specific review scores are enabled by default—Valve said it wants user reviews to be as useful as possible without requiring users to “twiddle with the many knobs the system has”—but you can switch back to all-languages ratings in your Steam settings if you prefer. As for why it made the change, the simple fact is that Steam has become a global platform, and that means “customers in different regions of the world may have vastly different experiences from each other for the same game.”

“There are a variety of reasons this may happen for a particular game, including translation issues, cultural references, poor network connections, and many others; things that the Overall Review Scores haven’t been able to capture until now,” Valve wrote. “Calculating a language-specific review score means that we can better distill the sentiment of these different groups of customers, and in doing so, better serve potential customers that belong to those groups.”

I would observe with a certain note of caution that the value of Steam user reviews is dependent upon them being used in good faith, which is not always the case, and that language-specific review scores could maybe possibly encourage some, let’s say, friendly geopolitical rivalries on the rating scene, as users from one region take issue with the quite obviously incorrect (and maybe even biased) opinions of people in other regions. We’ll see how that works out soon enough, I’m sure.

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