The Crypto Compass Issue #32

Binance has become the “first fully licensed” crypto exchange in El Salvado? Read it in our weekly newsletter now! Brought to you by BitcoinWalletSG.

Hey Friends!

Welcome back to another week with The Crypto Compass! As the tides of the crypto world keep turning, we're here to ensure you don't miss any of the pivotal moments. Dive into this week's curated roundup of transformative events.

Binance Secures Ground in El Salvador

Binance, the renowned cryptocurrency exchange, is paving its path in El Salvador. The exchange secured a license from the country's authorities to offer services related to cryptocurrencies, strengthening its presence in regions committed to digital currency. This move further reinforces El Salvador's position as a cryptocurrency pioneer after its landmark decision to adopt Bitcoin as legal tender.

Base Prepares for Summer Mainnet Launch

The crypto ecosystem is awaiting the launch of Base's mainnet, expected to take place this summer. With the buzz around on-chain solutions and DeFi platforms, the Base mainnet could bring about new functionalities and opportunities for users. The tech community will be eagerly monitoring its impact on scalability and transaction speeds.

PayPal Dives Deeper into Crypto

PayPal is amplifying its crypto endeavors with the launch of its 'Cryptocurrencies Hub.' The platform's users can now make transactions with cryptocurrencies more seamlessly, marking another significant stride in mainstream financial platforms embracing digital currencies.

Stay in the loop with The Crypto Compass. Your beacon in the ever-evolving world of cryptocurrency. Don't forget to share with friends and fellow crypto enthusiasts!

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Notable News

PayPal to roll out Cryptocurrencies Hub for select users

PayPal will roll out the new feature to select users based on their fulfillment of the eligibility criteria.

cointelegraph.com/news/paypal-cryptocurrencies-hub-launch

Visa Tests Way to Make Paying Ethereum Gas Fees Easier

The process is too complex for the masses, the company said.

www.coindesk.com/business/2023/08/11/visa-eyes-mass-adoption-of-crypto-by-testing-method-of-paying-on-chain-gas-fees-through-fiat

Kraken Ventures seeks to raise $100 million for second fund

Kraken Ventures is raising $100 million for its second fund amid a challenging climate for crypto VC, sources tell The Block.

www.theblock.co/post/244616/kraken-ventures-second-fund

Coinbase's Base mainnet officially opens to the general public

Base's wider network launch follows its testnet debut in February and the subsequent developer-only release in July

www.theblock.co/post/243899/base-mainnet-onchain-summer

Regulatory News

Crypto exchange Binance receives two licenses in El Salvador

Binance said it received two licenses in El Salvador, becoming the "first fully licensed" crypto exchange in the country.

www.theblock.co/post/243710/binance-el-salvador-crypto-licenses

Blockchain.com obtains major payment institution license in Singapore

The license allows the exchange to offer regulated digital payment token services to institutional and accredited investor customers, the company said.

www.theblock.co/post/243670/blockchain-com-obtains-major-payment-institution-license-in-singapore

Legal briefs supporting Coinbase flood in, pressuring SEC

Several amicus briefs have already been filed this year, hoping to bolster Coinbase’s fight against the regulator.

blockworks.co/news/legal-briefs-coinbase-sec?nocache

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