Samsung’s new crypto payment option, USDA leverages blockchains, and half of hedge funds invest in crypto

Crypto markets moved sideways amid an ongoing consolidation phase, with bitcoin (BTC) remaining flat at 0.1%, ether (ETH) rising 0.6%, and Solana (SOL) gaining 0.3%. The Nasdaq Crypto Index™ (NCI™) rose 0.1% for the week.

Samsung Pay adds crypto payment option with Alchemy Pay integration

Alchemy Pay integrated its virtual card service with Samsung Pay enabling users to make both cryptocurrency payments and purchases at supported retailers, such as Amazon, Netflix and eBay, using the Samsung Pay app together with the Alchemy Pay virtual card. This move is part of Alchemy Pay’s broader strategy to expand payment options and enhance cryptocurrency adoption across major platforms, signaling a growing acceptance of crypto payment methods.

US Agriculture Dept approves blockchain-based certification system

The US Department of Agriculture (USDA) has approved a blockchain-based certification system from CattleProof, using it to track individual cows through a decentralized digital ledger, recording this data on their health and location immutably. The USDA’s endorsement signals compliance with regulatory standards and highlights a growing interest in blockchain, showcasing the potential uses of blockchain technology on the traditional world and enhancing transparency in agriculture.

Nearly half of hedge funds have exposure to crypto

A survey by AIMA and PwC revealed that 47% of traditional hedge funds have exposure to digital assets, showing a 27% rise in comparison to 2022, which was potentially driven by increased regulatory clarity in key markets like the U.S. and Asia. The increasing participation of traditional hedge funds in the digital asset market signals greater institutional acceptance and confidence in crypto, which can enhance liquidity and legitimacy, potentially attracting more institutional investors.