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Crypto Trends

Brazil’s Mercado Bitcoin Bets on ‘Invisible Blockchain’ Approach to Build Financial Super App

by admin October 4, 2025



Twelve years after launching as a cryptocurrency exchange, Mercado Bitcoin aims to be something entirely different.

Less focused on price charts and trading pairs, the São Paulo-based company now talks more about Brazil’s central bank’s PIX payments, digital fixed income, and streamlined remittances.

Mercado Bitcoin’s head of corporate development, Daniel Cunha, told CoinDesk in an interview on the sidelines of the exchange’s DAC 2025 conference that the firm wants to become the app where Brazilians manage their financial lives. A kind of “super app” for spending, saving, and investing.

Yet, calling MB a “super app” may not quite capture the essence of the strategy. Its leadership prefers a different term: a financial hub that blends legacy finance with blockchain, letting users tap into both without needing to understand either.

“The revolution happens when the protocol disappears,” Cunha told CoinDesk. “The customer doesn’t want to hear about blockchains and tokens. They want to know the rate, the risk, and the maturity date,” he said, referring to the exchange’s tokenized fixed income offerings.

‘Invisible blockchain’

That thinking has reshaped how MB presents itself to users. Instead of relying on crypto-native vocabulary, the company now emphasizes features in its offering. One major change involved scrapping the term “tokenization” in user-facing materials altogether, Cunha said.

“We tried a ton of variations,” Cunha said. “When we stopped saying ‘token’ and started saying ‘digital fixed income,’ things took off.” The idea is to have a product whose backend is powered by blockchain technology, but the frontend remains more recognizable to the masses.

Essentially, MB’s bet is that “invisible blockchain” is the next frontier.

“We’re going to see a lot of people use blockchain without realizing they’re using blockchain,” MB said. “That’s when you know the revolution has happened.”

The firm’s flagship blockchain-based investment products focus on tokenized private credit, a segment it believes is underserved and ripe for disruption in Brazil.

Brazil ranks among the top five countries for retail crypto usage, according to Chainalysis’ Global Crypto Adoption Index. MB is positioning itself as an answer to a pain point common in the country through a stablecoin-based remittance service.

A pivot from trading

Despite all the new initiatives, MB’s core business, crypto trading, still accounts for the majority of its revenue. But that balance is shifting.

At its peak, trading made up 95% of the firm’s income. Today, that number is closer to 60%, with the rest coming from payments, custody, tokenized investments, and services like asset management. Over time, the company expects trading to fall below 30%, Cunha revealed.

As part of that shift, the firm is also expanding geographically. It now has a client-facing operation in Portugal and is building institutional channels in the U.S., aiming to link capital and investment opportunities across markets.

Mercado Bitcoin, where a significant portion of assets under management are made up of small and medium enterprises’ treasuries, expects to surpass 3 billion reais ($563 million) in tokenized credit issuance by year-end. About 20% of assets under custody on the platform are now tokenized real-world assets (RWAs), up from virtually zero just a few years ago.

The pivot sits within a wider push to build “financial super apps.” Coinbase CEO Brian Armstrong has said Coinbase aims to be a crypto-powered “super app” that would provide “all types of financial services.”

Beyond crypto, fintechs such as Revolut and Paytm are bundling payments, lending and investing. The playbook borrows from WeChat and Alipay, apps that bundle social, financial, and other features.

Read more: Crypto Exchange Mercado Bitcoin to Tokenize $200M in Real-World Assets on XRP Ledger



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October 4, 2025 0 comments
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The blockchain revolution should be invisible
GameFi Guides

The blockchain revolution should be invisible

by admin September 20, 2025



Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

When it comes to money, every person ultimately has the same basic needs: we need to be able to save it, send it, and spend it, safely and simply. But even in 2025, billions of people are still left out by the formal financial system. And this happens not just in the emerging markets, but ironically, also in the world’s leading nations. 

Summary

  • Tens of millions remain underbanked in developed markets, but blockchain has yet to deliver practical, everyday solutions due to poor UX and complexity.
  • Adoption depends on relatability — successful models like Nubank in Brazil, GCash in the Philippines, and Telegram’s TON payments show that people embrace tech when it’s simple, embedded, and solves daily problems.
  • Blockchain must prioritize utility over ideology — clumsy rollouts like El Salvador’s Bitcoin experiment show the risks, while stablecoins and tokenized assets offer a clearer path to usability and trust.
  • Mass adoption requires simplicity — crypto must become as effortless as existing apps, making saving, sending, and spending natural; otherwise, blockchain risks staying niche for decades.

According to recent surveys, over 36 million consumers remain underbanked in North America alone, while there are over 20.2 million adults who are underserved in the United Kingdom. Whether it be due to a lack of infrastructure or a mistrust in banking, this financial exclusion continues to stifle economic mobility and limit access to basic opportunities. Many still see blockchain as a revolutionary solution, offering faster, cheaper, and borderless financial services to the world. However, in practice, we haven’t yet delivered on that promise for everyday users.

Today, cryptocurrencies and blockchain, more broadly, are perceived as speculative ways to extract value, rather than practical tools for solving real-world problems. The technology is often clunky and intimidating for the average user, with poor UX that feels designed for developers rather than everyday people. Setting up wallets, managing private keys, bridging assets, and navigating unfamiliar interfaces introduces friction at every step. These processes are not only complicated but also unforgiving, where a single mistake can mean losing funds permanently. Adoption has been sluggish because people don’t want innovation for innovation’s sake — and they especially don’t want heavy-handed industry attempts to onboard them to a new world that they don’t understand or see value in. They want intuitive solutions to the problems they experience every day.

This is why the future of blockchain won’t be won by those who shout the loudest about decentralization or tokenomics — it’ll be won by those who simplify the complex, provide killer utility, and integrate the technology into the apps people already trust.

Global adoption requires relatability

Often, inspiration comes from markets that don’t have an established legacy financial system. Just look at how innovation in digital banking has reshaped Brazil. Nubank transformed financial access by giving users a simple, mobile-first way to manage money without the friction or barriers of traditional banks. The model thrived because it aligned with existing user behaviours and addressed specific local needs. While the technology was new to consumers, it immediately solved problems encountered daily. Most importantly, these consumers didn’t need to understand how the underlying technology worked.

This is where user experience becomes the winning element, by making financial tools feel natural in everyday life. Take GCash in the Philippines, which has become a hub for all financial operations: paying bills, sending and, even more importantly, receiving remittances, shopping, and accessing credit. The same principle can apply to blockchain. We see this with platforms like Telegram, which now allows TON-based payments directly in-app, showing how blockchain features can be made easy and natural as sending a text. By keeping the complexity behind the scenes, these platforms illustrate how crypto can become invisible yet useful, blending into the tools people already rely on.

Of course, Nubank worked for Brazil’s 200-million population. Scaling that model globally presents a different set of challenges: reaching diverse populations, navigating different regulatory environments, and integrating with existing payment habits. 

Telegram’s growth to over a billion users illustrates how platforms with large, engaged audiences can serve as an effective distribution channel for new services, including blockchain-based financial tools. By embedding financial features quietly, it becomes possible to offer capabilities like borderless payments or tokenized assets without requiring users to learn a new system. For most people, these features wouldn’t feel like using crypto at all — just another reliable feature of an app they already rely on.

Building rails or barriers?

Blockchain is a way to remove barriers, but when applied clumsily, it can create them instead. Too often, developers build around ideals instead of use cases. The focus shouldn’t be on shoehorning crypto where it is not needed. Simplicity and utility must take precedence over novelty and ideology: adopting technology should be driven by clarity and clear benefits rather than the allure of innovation alone.

El Salvador’s experiment with Bitcoin (BTC) as legal tender serves as a perfect example. The Central American nation has for years been consolidating its Bitcoin position, but the initiative seems to have faced significant hurdles, including price volatility, lack of public trust, and poor adoption for remittances, which constitute a substantial portion of the nation’s GDP. Many citizens opted to cash out any Bitcoin as soon as they received it, or avoid the system altogether, underscoring the gap between theoretical promise and practical usability.

A better path forward lies with stablecoins pegged to the price of fiat currencies. These offer the price stability of fiat with the benefits of crypto: instant, low-cost transfers, and global access. Integrated into familiar apps, stablecoins could quietly power remittances, everyday payments, and even savings solutions across underserved communities. Beyond payments, blockchain could open the door to more complex financial tools for the masses. Imagine a token that tracks a selection of stocks, allowing someone in an emerging market to invest in Apple shares. This would’ve been unthinkable just a few years ago. NFTs and DeFi have the ability to redefine the meaning of ownership and have the potential to democratise access to wealth-building tools that have long been restricted to select groups of society.

Getting back to basics

The acceleration of blockchain adoption has demonstrated that the technology can grant opportunities in ways that the traditional financial system cannot. However, so far, access to these opportunities is restricted to those who are able to take the time to learn and understand how crypto works. 

For a blockchain-based future to become a reality, our core focus must be on bringing simple projects to market that provide a meaningful use case for the average person. We must build a system that honors what should already be recognized: the right of every person to save, send, and spend. That means moving beyond education and making crypto as effortless as the apps people already use every day. Because if it doesn’t work for the mass consumer, mass adoption will remain not years, but decades away.

Irina Chuchkina

Irina Chuchkina is the chief growth officer at Wallet in Telegram, leading Wallet’s global expansion strategy with a target of 15 new countries in the next 2 years. An accomplished leader in crypto and fintech, Irina spent over 18 years building world-class brands at the intersection of payments and technology, across Europe and Asia.



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September 20, 2025 0 comments
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What's so special about the original Hollow Knight? The intoxicating power of Team Cherry's invisible, insistent guiding hand
Game Reviews

What’s so special about the original Hollow Knight? The intoxicating power of Team Cherry’s invisible, insistent guiding hand

by admin September 4, 2025


It’s not just locked doors, imposing bosses, and top-tier traversal. It’s a world, a sensation, a desperate and lonely feeling communicated through screen and pad. It’s chains and foliage obscuring the foreground, as imposingly huge bugs slink about in the background. The depth of parallax art and the grit of an impossible fight. The feeling of movement as you flap your wings or dash over pits or scramble up walls. The world is dying, but you feel alive and vital within it. From vanishingly small beginnings to power comparable to godhood, Hollow Knight isn’t just a good game: it’s one of the best ever made.

There’s been a wealth of incredible Metroidvania games from small dev teams over the past few generations – Axiom Verge, Guacamelee, Headlander, Ori and the Blind Forest to name just a few – but I don’t think any of them compare with Hollow Knight, really. Team Cherry’s 2017 debut is a masterpiece. And I am not using that word lightly. It represents a high tide for the genre that I think even surpasses the achievements of its progenitors, taking the foundational design philosophies of Metroid and Castlevania and sanding off all the rough edges to leave something elegant, perplexing and utterly moreish.

Here’s a bit of Silksong for you.Watch on YouTube

It all begins with its subtle tutorialisation. This is a Metroidvania, so the unwritten understanding is that you get power-ups, and they open up new areas. When you’re thrown into the world of Hallownest from the starting town of Dirtmouth with the vague instruction of ‘head on down’, you are instantly and subconsciously directed about where to go next: verdant green leaves tease the Green Path from the Forgotten Crossroads, and peculiar pink gems nod towards the Crystal Peak.

It’s the enticing greenery of the Path that typically grabs your attention first, though – the visual language of the game’s ‘second zone’ eating into the starting area in a small touch you’ll soon notice runs as a theme in the game. One screen in, and you’re barred; an armoured beetle-like thing impedes your progress. So you soldier on, going right instead of left, until you face your first boss and ingest your first upgrade, the Vengeful Spirit. In order to leave this area, an NPC instructs you to clear its temple, and what do you find at the exit? The very same armoured beetle, which you can now kill. Aha, you think, I know this guy.

So you backtrack, clear the doorway, and you’re on your way. That experience, a delicious example of early game not-quite-handholding that makes you feel like you’ve done all the work, sets a precedent. It’s easy, early on, to trick a player into thinking they’re smart for putting two and two together and coming out with four. But as the paths deviate, the 15 zones that make up Hallownest and its colonies begin to show themselves, and you start to gain a bit more independence, Team Cherry keeps finding ways to make you feel smart. It’s intoxicating, ego-boosting, and I even think at times it feels sublime. Really.

Image credit: Team Cherry / Eurogamer

You’re nudged along with barely perceptible cues that keep your brain itching whilst your fingers dance over the parabolic difficulty spikes in Hollow Knight’s combat. So many design decisions in this game are small, but mighty – fitting for a game about bugs, failing empires, and bitter godheads. Each area, be it the perpetually soggy City of Tears or the dusty dankness of the Ancient Basin, has its own specific colour. Colours are saturated, and props and set dressing is placed (with little repetition) to make each area feel distinct. In your head, you associate these areas with the map: left is green, right is pink, down is blue. It tugs at your cortex, so when you’re trying to navigate, you’ve always got an impression of what direction applies to what power.

But there’s more. The map itself hues its areas to match the world design, subconsciously gluing these colours to your spacial reasoning processes even more distinctly. Paired with more explicit progression cues – Silksong’s Hornet teasing you with which way to go by constantly dashing out of reach and out of view – Hollow Knight simultaneously baits you and makes you feel like you’re in control of your fate. It’s a dirty, delicious trick. And I cannot wait to see how this formula is expanded upon in the sequel.

Team Cherry’s approach to the map, too, cedes all power to the player. It’s not until you actually make it to the City of Tears that the game itself actually applies anything to your map – and even then, it’s a strange waypoint for a place we’ve already discovered. Otherwise, it’s all on you. You even need to choose between a power-up notch in your character screen and a marker to identify where you are on the map. Some may call this obtuse, or needlessly unhelpful, but I think it does wonders for the sense of place Hollow Knight dedicates so much effort to instilling in your head. You pull up the map a lot. Good. If you want to learn everything there is to know about Hallownest, you should know it inside out. The relationship between the knight and the world is a symbiotic relationship, technically and narratively, and all of these mechanics feed into that.

Image credit: Team Cherry

I think that’s where the real appeal of Hollow Knight lies. You have proper agency when it comes to progression and exploration – a sense of proper agency I have honestly only felt in the first Dark Souls in terms of ‘modern’ games. You’re let loose to discover your power on your terms, pluck at various locks and see which one comes undone, whilst also given the power to go and forge your own locks. You don’t even need to be a game design savant to understand the potential for sequence breaks (something Ori and the Blind Forest also understood very well), and by keeping a keen eye on the environment and the map, it feels like Team Cherry almost dares you to skip certain bosses or platforming challenges. The devs understand player ego, how to appeal to it, and how to challenge it. It makes the game’s difficulty more than just a combat or dexterity check, but an emotional one, too.

A lot of Metroidvania games also fall down when they design their critical paths: all too often, there will be one place you need to find and use your new power in order to progress. Some bits of Hollow Knight have four separate paths leading to the ‘next bit’ of the critical path. Chances are, you’ll happen upon one when casually exploring, or backtracking to farm currency or get a combat upgrade. The trail of breadcrumbs never runs out, and by letting you manually pin things to your map when resting at a bench, the sense of self-direction always feels natural and encouraged. The invisible hand of Team Cherry, it becomes clear from this first game alone, is one of the deftest in the business. And that insistent, impossibly light touch is so much of what makes Hollow Knight so special, so compelling, so intoxicating.

I’ve not even touched on the strength of the combat and the 160+ enemies here, or the build-crafting that’s integral to your journey through the game via pins and notches. I’ve not spoken about the game-changing spectral/dream mechanic you unlock about 50 percent of the way through, and how Team Cherry makes asset reuse into a genius portion of the game that anyone that’s played, say, Bravely Default would be agog over. I’ve not spoken about the subtle narrative craft that rivals FromSoft in its multi-layered complexity. I’ve not spoken about the music, the use of leitmotif, or how five twinkly piano notes can evoke such a distinct sense of loss, hopelessness, and desolation.

But that’s because it’s the design of Hollow Knight that sets it apart both from its contemporaries and its inspirations. Sure, the game wouldn’t be half as good if it didn’t have stellar combat or a surprisingly deep build-crafting system, but it’s in the irrepressible way the game keeps nudging you deeper, further down into its mystery that it truly shines. Hollow Knight is, indeed, a masterpiece, an exemplary manifestation of a developer understanding and leveraging player psychology. Is all this hype for Silksong really justified? Yes. And then some.



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September 4, 2025 0 comments
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