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Banking giant Goldman Sachs reportedly believes that stablecoins have significant growth potential in the payments sector. Goldman Sachs analysts say in a new research paper, as seen by Fortune, that blockchain-based currencies pegged to the US dollar or other fiat currencies could grow into a market worth trillions. “Visa sizes the addressable market for payments at ~$240 trillion in annual payment volume, with consumer payments representing ~$40 trillion of annual spending. B2B (business-to-business) payments comprise roughly ~$60 billion while P2P (peer-to-peer) payments and disbursements comprise the remainder. As such, payments are the most obvious source of (total accessible market) expansion for stablecoins over the longer term. This opportunity is largely untapped so far, with the majority of stablecoin activity being driven by crypto trading activity and demand for dollar exposure outside of the US.” The bank’s analysts also say that Ci...

Pro-crypto Ohio senator Niraj Antani introduced a new bill that will allow citizens of the state to pay local and state taxes and fees using cryptocurrencies such as Bitcoin (BTC). “Cryptocurrency is not just the future, but it’s the present of our 21st-century economy,” Antani said in a Sept. 30 post on X. He said the recent bill is part of his effort to “encourage innovation and free enterprise in Ohio.” New Ohio Crypto Tax Bill In Review The timeline for the new bill to potentially come into effect is not yet clear. It is currently awaiting committee assignment and review. Before the bill makes its way to the governor’s desk, it will also require a full vote of Ohio’s bicameral legislature. TODAY: I introduced a bill the legalize the use of cryptocurrency to pay state and local taxes and fees. Cryptocurrency is not just the future — it’s the present. I’m proud to be the most pro-cryptocurrency Member of the Ohio Senat...

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of its new ETH-BTC Dual Asset product, as per the latest updates shared with Finbold on August 8.  The new product is set to empower users to maximize their earnings by holding and trading their Bitcoin (BTC) and Ethereum (ETH) directly, without the need to convert to Tether (USDT). ETH-BTC Dual Asset The ETH-BTC Dual Asset product helps investors capitalize on price movements between the two cryptocurrencies by allowing them to trade ETH against their BTC holdings and vice versa. Picks for you ChatGPT-4o builds ideal winning stocks and crypto portfolio from current market crash 2 hours ago AI predicts XRP price for August 31, 2024...