American financial technology company Visa has launched stablecoin payments in the Latin American (LATAM) region. The firm launched the product in partnership with Bridge, a Stripe company, as it looks to broaden access to stablecoin payments in multiple countries. Under the partnership, the company said Bridge Fintech developers can offer stable assets with a single API integration.
The Visa Stablecoin Offering
In its announcement to shareholders, Visa said customers can access the offering at local shops where its services are available. With a network of over 150 million merchants, the fintech giant reiterates its commitment to advancing payments initiatives.
The alliance with Bridge will also permit the issuance of new card programs in Colombia, Ecuador, and Mexico. Despite its bold step in this region, the company plans to expand into other markets in the coming months.
This update comes as rival Mastercard launched a solution for stable token transactions earlier this week. The move confirms the high stakes fintech firms are placing on stablecoins amid changing regulatory trends around the world.
Popular economist Peter Schiff believes that Bitcoin will accelerate the demise of the U.S. dollar if the government adopts it as a US strategic reserve. Last Sunday, President Donald Trump signed an executive order to declare BTC along with a few other altcoins as part of US reserves. Investors are now awaiting more details at the first White House Crypto Summit scheduled on Friday.
Peter Schiff Predicts Dollar’s Demise Amid Bitcoin’s Rise
Economist Peter Schiff has expressed concerns on the implications of the United States creating a strategic BTC reserve. He stated that if BTC’s success hinges on the failure of the U.S. dollar, such a move would hasten the dollar’s decline. However, Schiff believes that in this fight of BTC vs USD, Gold will emerge as the ultimate winner.
“This development might provide a short-term boost for Bitcoin, but in the long run, gold will emerge as the ultimate winner.”
His comments reflect ongoing debates about Bitcoin’s role in global financial systems and its potential to disrupt traditional fiat currencies. Schiff’s comments also reflect upon macro conditions and the volatility in the US market as the Trump trade war kicks off.
While Schiff is against BTC reserves, market veterans like Robert Kiyosaki believe that Bitcoin will resolve America’s financial woes. He asserts that individuals who sold their BTC during the recent market crash may regret missing out on potential gains, while those who held onto their holdings will emerge as ultimate winners.
Will BTC Price Rally Continue Past $100,000?
Just ahead of the first White House Crypto Summit scheduled for Friday, Bitcoin and altcoins are showing strength once again. The BTC price is up by an additional 6.24% in the last 24 hours and is currently trading at $92,296 levels with a market cap of $1.830 trillion. As per the coinglass data, the BTC open interest is also up 8.09% to more than $51.38 billion.
Crypto analyst Ali Martinez suggests that if Bitcoin (BTC) reclaims the $97,000 level, it could gather momentum for a potential surge toward $150,000, as indicated by the Pi Cycle Top metric.
Source: Ali Charts
On the other hand, altcoins are also showing strength with Ethereum (ETH) price recovering more than 15% from the weekly bottom of $2,000.
TAO, the altcoin that powers Bittensor’s decentralized machine learning network, has soared 10% in the past 24 hours. It has outperformed major cryptocurrencies like Bitcoin (BTC), which has seen a modest gain of 0.13%, and Ethereum (ETH), whose value has dipped by 1.3% over the past day.
With technical indicators hinting at growing bullish pressure, TAO could extend its double-digit rally in the short term.
TAO Flashes Bullish Signal
TAO’s price has broken above its 20-day Exponential Moving Average (EMA), an indicator that suggests a strong bullish trend in its spot market.
The 20-day EMA measures an asset’s average price over the past 20 trading days, giving more weight to recent prices. When an asset’s price breaks above this key moving average, it signals a shift in momentum toward a bullish trend. Traders view it as a short-term signal that the asset may continue to rise.
This crossover confirms TAO’s growing buying pressure and renewed investor confidence. It also hints at a sustained price rally as long as the 20-day EMA remains below the token’s price, to offer a dynamic support floor against any significant price dips.
Additionally, the altcoin’s rising Relative Strength Index (RSI) further supports the demand spike, reinforcing the likelihood that TAO’s upward trend could continue. At press time, this is at 54.86.
This indicator ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound
TAO’s RSI confirms that bullish momentum is building gradually. It indicates growing buying interest, with room for further upside before reaching overbought conditions above 70.
TAO Eyes $279.70 Breakout as Bullish Momentum Builds
TAO currently trades at $255.20. With strengthening bullish pressure, the altcoin could extend its gains and break above $279.70, its next major resistance level. A successful breach of this price spot could propel TAO’s price to $366.10.
However, a spike in profit-taking activity will invalidate this bullish outlook. If demand wanes and TAO sellers regain market control, they could force the token’s price below its 20-day EMA, which forms dynamic support at $237.30.
If this happens, the TAO token price could fall further to $163.70.
