DWF Labs Partners with Mask Network to Boost Decentralized Social Infrastructure

This week in crypto, regulatory shifts, major partnerships, and strategic integrations made headlines. The U.S. Federal Reserve eased rules for banks engaging with digital assets, while Coinbase and PayPal teamed up to expand stablecoin adoption worldwide.

This week in crypto saw a mix of major partnerships, strategic integrations, and regulatory shifts that are shaping the Web3 landscape.

The U.S. Federal Reserve made a key move by easing rules for banks engaging with digital assets and stablecoins. Aiming to lower regulatory barriers and encourage broader participation in the growing crypto sector, the Fed will no longer require state-chartered banks to obtain its approval before offering crypto services.

Instead, banks will manage crypto offerings in accordance with standard supervision procedures, similar to the oversight of traditional financial products. This adjustment is expected to foster innovation, expand liquidity, and open up new avenues for banks, especially in the stablecoin market.

Meanwhile, Coinbase and PayPal joined forces to expand the reach and adoption of PayPal USD (PYUSD), a U.S. dollar-backed stablecoin, to consumers, businesses, and institutions worldwide.

Coinbase users can now buy, sell, and convert PYUSD without any platform fees, redeeming it at a 1:1 rate with U.S. dollars. Through this collaboration, Coinbase will provide access to PYUSD via its trading and custody platforms, aiming to integrate stablecoin solutions into PayPal's merchant network.

The partnership is focused on enhancing programmable payments, enabling faster settlements, and promoting the broader global use of stablecoins. Issued by Paxos Trust and backed by U.S. dollar reserves, PYUSD will also be promoted by PayPal and Venmo for regulated digital transactions.

In other news, Metaplanet crossed a major Bitcoin milestone by surpassing 5,000 BTC in its holdings after acquiring another 145 BTC for approximately $13.6 million.

The Tokyo-based investment firm is aiming to amass 10,000 BTC by the end of 2025 with its “21 Million Plan,” and with this latest purchase, it has completed over 50% of its goal.

The firm’s Bitcoin holdings are now valued at around $428 million. April marked a record month for Metaplanet as it purchased over 1,650 BTC for nearly $153 million, ultimately placing it among the top 10 corporate Bitcoin holders.

DWF Labs and Mask Network have partnered to boost decentralized social infrastructure and enhance Web3 social experiences for users. The aim of the partnership is to empower users with seamless access to NFTs, DeFi, and encrypted messaging, effectively bridging traditional and decentralized platforms.

Mask Network, through its venture arm Bonfire Union, has already backed over 100 Web3 projects in recent years.

Finally, ZetaChain has integrated Arbitrum into its Universal Apps platform, ZetaHub, to simplify cross-chain application usage.

Announced via its official X account, the move will allow Arbitrum wallets to access Universal Apps without needing any wrappers, bridges, or token swaps.

ZetaHub, with over 515,000 monthly users, is positioning itself as a leading multi-chain platform.

The integration leverages Arbitrum's renowned technology, offering fast and low-cost Ethereum L2 solutions, which are home to popular dApps like Radiant Capital and GMX.

Developers can now easily compose with Arbitrum's ecosystem, gain native support for $ARB and related tokens, and seamlessly interact with Arbitrum contracts from any chain using just one smart contract.