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Join us in welcoming Jim (@jimnguyenjn), a longtime fintech innovator and early crypto builder. He led PayPal’s new markets and technology initiatives before serving as VP of Partnerships, Product, and Marketing at Okcoin, and later launched ventures bridging payments, stablecoins, and fintech infrastructure. Now focused on the intersection of AI and blockchain, he brings deep insight into how traditional and decentralized systems converge. Thrilled to have him in the network!
Follow Jim on X and LinkedIn!
Meet Phil (@NotTheDrPhil), who leads marketing at Nexus Mutual (@NexusMutual), one of the earliest projects bringing on-chain protection to DeFi. Before joining Nexus, he headed content at Unstoppable Domains and has spent over a decade working across tech startups. With deep experience in DeFi risk, yield, and web3 storytelling, Phil offers a experienced perspective on building trusted brands in decentralized ecosystems. Excited to have him in the community!
Follow Phil on X and LinkedIn!
Table of Contents
What We’re Looking at 👀
🌟 Crypto is quietly shifting from speculation to application.
This week, the big story is not price charts but products.
Crossmint is making wallets invisible, Cheeze is turning loyalty into spendable stablecoins, Lava is putting Bitcoin to work, and Binance and Samsung are embedding crypto into everyday tech.
Add regulators finally writing playbooks instead of subpoenas, and the message is clear.
The rails are being built, branded, and plugged into our daily lives.
The revolution will not scream Web3. It will just work 🌟
Money Moves(Funding/M&A): 🤑
From Introduction.com Members 💳️
Crossmint
Crossmint Forges Ahead as the Invisible Wallet for the 99% 🪄
Crossmint just secured a strategic investment led by Circle Ventures, signaling its mission to make on-chain access effortless for everyday users.
The company is positioning itself as the invisible wallet infrastructure for the next billion people entering Web3.
Who Is Crossmint? 🤔
Founded in 2021 by Rodrigo Fernández Touza and Alfonso Gómez Jordana Mañas.
Crossmint set out to make crypto simple, starting with NFT payments that anyone could use without a wallet.
Today, it has evolved into a full-stack wallet infrastructure layer that quietly powers everything from digital collectibles to remittances.
Its vision is to make fintech feel like second nature, turning “blockchain apps” into something your grandma could use between checking her savings and sending a Venmo 👵 📱
How It Works ⚙️
Crossmint makes crypto invisible.
Users interact with familiar apps, while Crossmint manages wallets, blockchain calls, and settlements behind the curtain.
Take its new partnership with MoneyGram.
A user in Colombia opens the same MoneyGram app they already trust and sends USD as usual.
Behind the scenes, Crossmint instantly converts those dollars into USDC, stores them in a managed wallet, and makes them spendable, holdable, or withdrawable in local currency; all without the user ever touching an exchange or seeing a seed phrase.
It is a quiet revolution: Web2 giants going Web3 without anyone needing to notice.
The Round 💸
What We Know ✅
Circle Ventures led the latest strategic round, signaling alignment between two major players in stablecoins and payments infrastructure.
Funds will go toward global expansion, compliance scaling, and infrastructure development, with an emphasis on stablecoin corridors and cross-border functionality.
What We Don’t Know ❓
The exact size of Circle’s investment and valuation details have not been disclosed.
Whether this partnership will evolve beyond funding into deeper product integrations between Crossmint and Circle’s ecosystem.
🚦 Circle’s investment is telling 🚦
Despite having its own wallet infrastructure, it chose to back Crossmint.
The Market 🌍
The invisible wallet race is heating up. Everyone wants to make crypto usable for the masses, but each major player is taking a different route.
Coinbase Wallet-as-a-Service 🏦
Targets enterprises that want crypto integration without the blockchain complexity
Uses semi-custodial MPC tech through Coinbase Cloud, prioritizing compliance and institutional trust over flexibility
Circle Programmable Wallets 💫
Focused on stablecoin adoption and cross-border payments
Provides custodial wallets tightly tied to USDC liquidity rails, perfect for fintechs and neobanks but less open to decentralized apps
PayPal + PYUSD 💵
Leverages its in-house stablecoin to merge fiat payments with crypto infrastructure
Familiar, trusted, and frictionless — but locked inside PayPal and Venmo’s ecosystem
Fireblocks & BitGo 🔐
Power institutional custody and secure transaction infrastructure
Excellent for compliance-heavy backend use cases, but not built for retail-facing apps
Crossmint stands apart as true middleware for the everyday user.
It hides the blockchain entirely, letting Web2 apps go Web3 without UX friction or technical overhaul.
With partners like Visa and Circle, Crossmint is quietly becoming the invisible infrastructure powering the next wave of global fintech access.
Looking Ahead 🔮
Crossmint is building for a world where crypto hides in plain sight. With Circle Ventures and MoneyGram now in its orbit, it has the credibility and partnerships to scale globally.
The next chapter is all about adoption. Whoever makes crypto invisible, secure, and compliant for the 99% wins.
Crossmint wants to be the wallet you never see but always use.
Cheeze 🧀
All smiles at Cheeze with a fresh seed round, aiming to tokenize loyalty itself
Cheeze has pivoted from photo NFTs to a rewards platform that turns everyday spend and on-chain actions into Stable Points.
Points convert to USDC or can be spent via a Cheeze Mastercard, blending Web2 familiarity with Web3 settlement.
Who Is Cheeze? 🤔
Founded by Simon Hudson, Cheeze started as a photography NFT marketplace on Flow, gaining early visibility in the Dapper ecosystem.
By 2024–2025, the company shifted to on-chain loyalty and payments, reimagining how users earn and redeem value.
Its new vision: make loyalty feel familiar while balances quietly settle on crypto rails.
How It Works ⚙️
Link a bank card or crypto wallet, spend at participating merchants, and earn Stable Points automatically in the app.
Convert those points to USDC or spend them using a Cheeze Mastercard for real-world purchases.
In case it’s not clear… the points you earn from your linked card or wallet can be loaded onto a physical or digital Mastercard and spent anywhere Mastercard is accepted. 🤯
The Round 💸
Cheeze announced a seed round backed by a mix of crypto VCs and angel investors.
Funds are earmarked for merchant expansion, deeper card and wallet integrations, compliance tooling, and engineering growth.
What We Know ✅
Investors: Crypto.com Capital, X Ventures, Arcadia, BABs Agency, Black Dragon, DCI Capital, MH Ventures, Newman Capital, OSF, Brian D. Evans, and Adrian Lai.
Product: Supports points from fiat card spend and Web3 activity, with USDC redemption and a Cheeze Mastercard.
What We Don’t ❓
Round size and valuation remain undisclosed.
Merchant coverage and geography of the Mastercard program are still unclear. 🚨
That said, based on investor lineup and Mastercard partnership, our best estimate puts Cheeze near a $150M valuation, suggesting this round is about cementing market position and capitalizing on partnership momentum.
But don’t quote us on that…
The Market 💹
Big-name players with similar consumer offerings:
Coinbase Card: Crypto rewards tied to spending inside the Coinbase ecosystem.
Crypto.com Visa: Multi-tier card with broad merchant coverage and tiered rewards.
Fold: Bitcoin rewards for everyday purchases.
Lolli: Browser and app-based BTC cashback at major retailers.
Cheeze’s niche: a single loyalty wallet that bridges Web2 and Web3, with Stable Points that convert to USDC and load onto a card — making crypto rails invisible to the end user.
Looking Ahead 🔮
Cheeze is turning loyalty into a soft onramp for everyday users.
If it can expand its merchant network, stay compliant, and make USDC redemption seamless at checkout, it could redefine loyalty programs as instant, spendable, and borderless.
The next milestones to watch are program geography, card limits, and brand integrations as Stable Points roll out at scale.
Industry Leaders 🤠
Lava 🌋
Bitcoin Backs the Bank Run
Lava just raised $17.5M to supercharge BTC-backed DeFi lending, proving that Bitcoin is no longer sitting idle. It is going to work.
Who Is Lava? 🤔
Founded in 2022, Lava is building a decentralized platform that lets users borrow dollars against their Bitcoin without ever giving up custody.
Its vision is to make Bitcoin productive by turning it into trustless collateral for a global DeFi credit system.
How It Works ⚙️
Lava locks BTC into smart contracts and lets users draw dollars or stablecoins against it.
Example:
You post 1 BTC worth $60K → borrow $30K in USD → keep your BTC locked safely while it earns interest.
Behind the scenes, Lava uses Bitcoin Layer 2 networks and on-chain liquidity pools to make borrowing seamless, transparent, and fully non-custodial.
The Raise 💸
Amount: $17.5M Series A extension
Investors: Castle Island Ventures, ParaFi Capital, Kingsway Capital, Mechanism Capital
Use of funds: Scale liquidity infrastructure, expand institutional partnerships, and grow Bitcoin-native lending markets
The Market 🌍
Competitors are circling the same space:
Ledn: Centralized loans with less composability
Maple Finance: Institutional DeFi credit network
Aave and Maker: Synthetic loans with limited BTC collateral
Coinbase (cbBTC): Bridges BTC to Ethereum DeFi
👉 Lava’s niche: Fully decentralized, Bitcoin-first, and built to keep Bitcoin yield on Bitcoin.
Looking Ahead 🔮
The message is clear. Bitcoin is shifting from a passive store of value to an active source of yield.
If Lava can scale liquidity safely and keep borrowing rates attractive, it could become the default credit layer for the world’s oldest and most trusted crypto asset.Moody’s or S&P of crypto.
Events 📆
IRL:
(TONIGHT) Wednesday, October 8th; NYC 🇺🇸
London; 10/13 - 10/15 🏴
Tobacco Dock, London UK; 10/21 - 10/22 🇬🇧
Las Vegas, Nevada; 10/26 - 10/29 🇺🇸
Top Stories 📰
Binance Rolls Out “Crypto as a Service” 🏦🌍
Binance unveiled Crypto as a Service (CaaS), a white-label platform that lets banks, brokers, and licensed firms offer crypto trading under their own brand; while Binance powers everything behind the scenes.
White Label Evolution 📆
2020: Binance Cloud launches, offering partners full exchange infrastructure and shared liquidity.
2022–2024: Model refined with separate liquidity pools and compliance tooling.
2025: Rebranded as Crypto as a Service, now targeting regulated institutions with integrated custody, settlement, and compliance support.
Who Benefits 🤝
Institutions
Offer crypto instantly without building new systems
Keep their brand, customers, and local licenses
Tap Binance’s liquidity and tech stack
Binance
Expands reach through licensed partners
Earns service and volume fees
Builds credibility with regulators
Why It Matters 🌍
Binance is evolving from exchange to infrastructure.
By letting TradFi run crypto products on Binance rails, it positions itself as the silent backbone of the next adoption wave.
This move signals where crypto is heading; not more exchanges, but embedded infrastructure inside the banks themselves.
Samsung Expands Coinbase Integration 🔗
Samsung just upgraded its Galaxy Wallet. Users can now buy, sell, and transfer crypto directly through Coinbase without leaving the app.
The rollout covers the U.S., South Korea, and parts of Europe, showing how hardware and crypto are converging fast.
What Happened 📰
Samsung added Coinbase’s fiat-to-crypto on-ramp into Galaxy Wallet.
Users can now:
Link or create a Coinbase account within the app
Buy crypto using cards, bank transfers, or mobile payments
Store assets in Galaxy Wallet, secured by Samsung Knox Vault
Coinbase handles exchange, custody, and compliance. Samsung provides the front-end experience and device-level protection.
The Play 📱
Samsung gets deeper user engagement and a real Web3 edge in the smartphone market.
Coinbase gains instant access to tens of millions of Galaxy users through native distribution.
Together, they make crypto access feel as natural as using a mobile wallet.
Why It Matters 🔮
This is what mainstream adoption looks like. It will not come from new apps but from trusted platforms quietly adding blockchain access where users already are.
Samsung phones now ship with built-in crypto rails, and Coinbase just became part of the daily user experience.
Adoption is not loud, it is seamless.
🧭 Regulation Roundup
Regulators are finally reading the room.
After years of mixed signals, global agencies are starting to move in sync with crypto. New charters, pilots, and policy updates all point to one thing: building legitimate rails for a maturing market.
🇺🇸 Coinbase Eyes Federal Trust Charter
Coinbase has applied for a U.S. federal trust charter to expand its custody footprint while clarifying it is not becoming a bank.
If approved, it could mark a major step toward federally recognized crypto custody and stronger institutional trust.
💰 IRS Clarifies Crypto Treasury Rules
The IRS released new guidance easing reporting requirements for corporate crypto treasuries, narrowing the focus to realized gains and direct holdings.
That means fewer accounting headaches for firms holding Bitcoin or stablecoins on their balance sheets.
🏛️ SEC Considers State Trust Custody Expansion
The SEC is reviewing rules that would allow state-chartered trusts to custody digital assets under federal recognition.
It is a procedural shift that could open new doors for Anchorage, Paxos, and Coinbase Custody.
⚖️ White House Pulls CFTC Chair Nominee
The White House withdrew Brian Quintenz’s name from consideration for CFTC Chair, leaving a key regulatory seat open.
His exit delays a unified stance on derivatives oversight just as tokenized futures volumes begin to rise.
🏦 FDIC to Review Crypto Banking Rules
The FDIC is reexamining how banks engage with crypto clients across custody and payments.
This review could give traditional banks the clarity they need to handle digital assets without supervisory fear.
💼 Bullish Expands Licensing to 20 U.S. States
Exchange operator Bullish secured approvals in 20 additional states, nearly doubling its regulated footprint.
It now stands alongside Coinbase and Gemini as one of the few exchanges cleared to operate nationwide.
🧾 Treasury and Senate Align on Crypto Tax Relief
The U.S. Treasury and Senate committees reached agreement on new reporting rules that simplify corporate crypto accounting under CAMT.
The move is being hailed as a win for clarity and a sign that Washington is finally listening to industry feedback.
📈 SEC Mulls Blockchain-Based Stock Trading
The SEC is considering proposals that would allow regulated exchanges to settle equities on-chain.
If approved, it could modernize U.S. market infrastructure and bring traditional finance closer to Web3 rails.
🇬🇧 UK Moves to Reverse ETN Ban
The Financial Conduct Authority is preparing to lift its 2021 ban on crypto ETNs.
London may soon welcome institutional crypto products back into its financial ecosystem.
🇶🇦 Qatar’s Blockchain Banking Moment
Qatar National Bank has joined JPMorgan’s Onyx blockchain for faster U.S. dollar settlements.
Top institutions in the Gulf region are quietly moving on-chain with blue-chip partners.
🇪🇺 Visa’s Stablecoin Pilot Goes Live
Visa launched a MiCA-compliant stablecoin pilot for cross-border payments.
Stablecoins have officially gone corporate, and Visa’s pilot proves the network effect is already here.
The takeaway:
Regulators are no longer trying to stop crypto. They are shaping it. The world’s largest financial players, from Coinbase to Visa, are getting playbooks instead of penalties, and the new rules are starting to make sense.
Wrap Up ✌
✨ Crypto is not reinventing money anymore. It is rebuilding how it moves.
The new frontier is invisible infrastructure; smooth, compliant, and hiding in plain sight.
If this week’s stories prove anything, it is that the future of finance will not look like a revolution.
It will look like your phone, your card, your favorite app, quietly running on blockchain✨
