Several notable developments have emerged in the cryptocurrency sector, including PayPal’s launch of a new service that enables merchants to accept payments in over 100 cryptocurrencies using its stablecoin, PYUSD. The U.S. Securities and Exchange Commission (SEC) has also delayed its decisions on the Truth Social Bitcoin ETF and the Grayscale Solana Trust, while Avalanche has announced a significant partnership that will bring $250 million in tokenized assets onto its blockchain.
PayPal Launches PYUSD Payment Service
PayPal has introduced a service called “Pay with Crypto” that allows small businesses to process payments in various cryptocurrencies, converting them into its stablecoin, PYUSD. This new offering is designed to facilitate quicker and more cost-effective transactions, with businesses able to access lower fees than traditional international credit card processors.
Initially, PayPal will implement a transaction fee of 0.99% for the first year, which will subsequently rise to 1.5%. According to CEO Alex Chriss, the service aims to alleviate the high transaction costs typically associated with international payments. This initiative marks an important step in PayPal’s ongoing commitment to expanding its crypto services which began in 2020. Since its introduction, PYUSD has grown to become the 12th-largest stablecoin by market capitalization, currently standing at approximately $900 million.
The service will first be available in the United States and will support major cryptocurrency wallets, including Coinbase, Binance, and MetaMask. Notably, even meme coins like TRUMP and FARTCOIN may be accepted, contingent on liquidity conditions. Payments made in cryptocurrencies will be converted to dollars and credited to merchants in PYUSD.
SEC Delays Decisions on ETFs
The SEC has announced a postponement of its ruling regarding the proposed Truth Social Bitcoin ETF, extending the review period until September 18, 2025. This ETF, filed by the Trump Media & Technology Group, seeks to tap into the growing interest in cryptocurrency investments. The SEC indicated it requires additional time to evaluate the proposal adequately.
This delay follows a trend observed with increasing numbers of ETF filings within the cryptocurrency space. The Truth Social ETF was initially filed in June 2025 and adds to a series of applications that have emerged since the approval of several spot Bitcoin ETFs earlier this year. Additionally, the SEC has delayed its verdict on the Grayscale Solana Trust, with a new decision expected by October 10, 2025. Various firms, including VanEck and Bitwise, are also in the process of submitting similar Solana ETF proposals.
Former President Donald Trump has endorsed policies that support the cryptocurrency sector, citing the appointment of Paul Atkins as SEC Chair and advocating for the U.S. to become a global leader in crypto innovation.
Avalanche Partners with Grove for Tokenized Assets
In a separate development, Avalanche has secured a substantial commitment of $250 million in real-world assets (RWAs) through a partnership with Grove and Janus Henderson Anemoy. This agreement will facilitate the introduction of two tokenized investment funds: the Anemoy AAA CLO Fund (JAAA) and the Anemoy Treasury Fund (JTRSY). The JAAA fund is designed to provide exposure to collateralized loan obligations, while the JTRSY fund will focus on short-term U.S. Treasury bills.
Both funds will be issued on Centrifuge, a key platform in the tokenization of RWAs. Currently, the JTRSY fund manages over $408 million in assets, primarily on the Ethereum blockchain, and will now expand onto Avalanche. The collaboration with Grove Labs, which developed the protocol for tokenization, is bolstered by support from Steakhouse Financial.
As a result of this partnership, Avalanche’s on-chain RWAs will exceed previous valuations of $195 million by more than double, positioning the network as a competitive player in the tokenization landscape. Other blockchain networks, such as Aptos and Solana, are also ramping up their tokenized asset offerings, reflecting a broader trend toward the integration of traditional financial assets with blockchain technology.
These developments underscore the increasing fusion of mainstream financial systems with the cryptocurrency ecosystem, highlighting the potential for innovation in payment solutions and asset management.