Daily Axis Interaxis

Visa and Transak Partnership
We kicked things off discussing the partnership between Visa and Transak, which is set to revolutionize how people use their crypto wallets. With Transak joining Visa's Direct program, users in over 140 countries can now spend their crypto assets using a Visa card, converting them to local currency on the fly. This is a game-changer for travelers and those living in countries with volatile currencies, as it provides a secure and immediate way to access funds without the need for traditional banking.
Ethereum ETF Speculation
Next up, we touched on the potential approval of an Ethereum spot ETF by the SEC, expected around May 23rd, 2024. This follows the approval of a Bitcoin ETF earlier in the year. We discussed the implications for the market and how the ETF's structure might differ from Bitcoin's due to Ethereum's variable issuance policy.
PayPal Ventures Invests in Mesh
In investment news, PayPal Ventures made a significant move by investing $6.5 million into Mesh, a company aiming to be the 'plaid of crypto,' facilitating the movement of assets across different blockchain networks. Notably, $5 million of this investment was made using PayPal's own stablecoin, PYUSD, showcasing a real-world application of stablecoins in institutional investment.
The Rise of Stablecoins
We wrapped up the episode reflecting on the growing importance of stablecoins in the crypto ecosystem. Stablecoins offer a way to transact with the stability of fiat currencies while leveraging the benefits of blockchain technology. This trend is being recognized by major players like PayPal and is expected to continue growing in 2024.