Several major developments have emerged in the cryptocurrency sector, highlighted by PayPal’s recent launch of its PYUSD payment service, which enables merchants to accept over 100 cryptocurrencies. Concurrently, the U.S. Securities and Exchange Commission (SEC) has postponed decisions on two significant Bitcoin ETF proposals, including one from Truth Social. Additionally, Avalanche has secured a partnership worth $250 million to advance the tokenization of real-world assets.
PayPal Enhances Crypto Payments with PYUSD
PayPal has introduced a new service called “Pay with Crypto,” allowing small businesses to receive payments in the form of cryptocurrencies. This program utilizes the company’s own stablecoin, PYUSD, which was developed in collaboration with Paxos. Merchants can convert over 100 supported cryptocurrencies into PYUSD, receiving instant settlements while benefiting from lower fees compared to traditional payment processors.
Initially, PayPal will charge a transaction fee of 0.99% for the first year, increasing to 1.5% thereafter. CEO Alex Chriss stated that this service aims to alleviate high transaction fees faced by businesses, particularly for international payments. The launch will support major cryptocurrency wallets such as Coinbase, Binance, and MetaMask, as well as some meme coins, depending on liquidity.
Since its inception in 2023, PYUSD has gained traction, becoming the 12th-largest stablecoin with a market capitalization of approximately $900 million. However, PayPal has clarified that PYUSD is not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).
SEC Postpones Key ETF Decisions
The SEC has delayed its decisions on the proposed Truth Social Bitcoin ETF and the Grayscale Solana Trust. The review period for the Truth Social ETF, filed by Trump Media & Technology Group, has been extended until September 18, 2025. This delay allows the SEC additional time to evaluate the proposal and the associated regulatory concerns.
The Truth Social ETF was initially filed in June 2025 amidst a surge of ETF applications following the January approval of 12 spot Bitcoin ETFs. If approved, the proposal could increase the Trump family’s involvement in the cryptocurrency market, where previous endorsements for crypto-friendly policies have emerged.
Alongside the Truth Social ETF, the SEC also postponed its decision regarding the Grayscale Solana Trust, which is now anticipated by October 10, 2025. Other firms, including VanEck and 21Shares, have submitted similar proposals, underscoring the growing interest in cryptocurrency investment vehicles.
Avalanche Partners for Tokenization Growth
Avalanche has secured a notable partnership with Grove and Janus Henderson Anemoy, committing $250 million in real-world assets (RWAs) to bolster the blockchain’s tokenization capabilities. This partnership aims to introduce two tokenized investment funds: the Anemoy AAA CLO Fund (JAAA) and the Anemoy Treasury Fund (JTRSY).
The JAAA fund will focus on collateralized loan obligations, while the JTRSY fund will target short-term U.S. Treasury bills. Currently, JTRSY manages over $408 million in assets and will expand its offerings onto the Avalanche network, which previously had RWAs valued at $195 million. This significant increase reflects Avalanche’s commitment to integrating more real-world assets into the blockchain ecosystem.
The partnership with Grove, which facilitates tokenization through its protocol, indicates a broader trend in the cryptocurrency space as other networks, including Aptos and Solana, also enhance their tokenized asset offerings. The adoption of stablecoins, particularly in light of new regulations like the GENIUS Act, is expected to further boost institutional interest in cryptocurrency transactions.
These recent developments illustrate the ongoing integration of cryptocurrency within mainstream financial systems, highlighting both the opportunities and regulatory challenges faced by the industry.