Crypto Biz: Rails, rigs and regulation — the new crypto economy
PayPal launches P2P crypto links, Google tests AI payments, miners pivot to data centers and Bitwise eyes stablecoin ETF.
Crypto’s center of gravity is shifting from speculation to services. PayPal is opening the door to peer-to-peer (P2P) cryptocurrency transfers, building on its growing presence in digital assets. Its stablecoin, PYUSD, has already surpassed $1 billion in market capitalization.
Google is piloting a payment protocol designed for AI agents, with built-in support for stablecoins — highlighting the role dollar-pegged crypto could play in the emerging web economy.
Meanwhile, Bitcoin miners face tighter margins from rising costs, higher difficulty levels and growing competition. Yet several companies are thriving by pivoting into data-center and AI infrastructure, sending their share prices sharply higher in recent weeks.