ALBAWABA -This week in Crypto News Recap, Argentina is rocking the world of football and making headlines in the world of crypto! PayPal has also made another move to increase crypto adoption. Speaking of adoption, CoinMENA teamed up with MAG to facilitate property transactions using crypto. You know the drill, let’s get started!
Argentina to issue US dollar-pegged stablecoin
Argentina doesn’t only have a huge match ahead but also seeking to issue US dollar-pegged stablecoin! Argentina's province of San Luis approved legislation allowing the issuance of its own stablecoin pegged to the US dollar. The token, known as the "Activo Digital San Luis de Ahorro," will be available to all province residents over the age of 18 and will be 100 percent collateralized in the province's liquid financial assets.
The bill gives the province the authority to issue the stablecoin up to two percent of its annual budget. It also says that assets can be transferred between parties, but it doesn't say which chain will be used. San Luis has a population of over 430,000 people.
MetaMask users can now purchase and transfer Ethereum via PayPal
PayPal has partnered with MetaMask's parent company ConsenSys to enable the purchase and transfer of Ether (ETH) through its platform. Users can access their PayPal accounts and complete transactions by logging into the MetaMask app. Only selected PayPal users in the United States can test the service at first. Other traditional payment providers are looking to incorporate cryptocurrency into their services. Western Union also filed three trademarks in October for managing digital wallets and exchanging digital assets.
CoinMENA Teams up with MAG to Facilitate Property Transactions Using Crypto
MAG, the UAE's leading real estate developer, has signed an agreement with CoinMENA, the Middle East and North Africa's (MENA) leading crypto asset service provider, to facilitate real estate purchases using cryptocurrencies to accelerate the growth of Dubai's new economy. The developer will accept stablecoins such as USDT and USDC under this agreement.
In a joint statement, CoinMENA’s Founders, Talal Tabbaa, and Dina Sam’an, commented: “We are excited to announce this agreement with MAG as it signals to the market that crypto adoption is growing and becoming a viable exchange medium to purchase ‘real world’ assets.”
