Crypto Weekly Digest, May 19: Mastercard, MoonPay Launch Global Crypto Card
Hey folks! Welcome to the latest edition of the Crypto Weekly Digest. Here is a quick glimpse of the developments that took place over the week. Mastercard and MoonPay announced a major collaboration on May 15, introducing a stablecoin-powered card, enabling global crypto payments across 150 million businesses.
The card allows users to spend their stablecoins, converting them instantly to local fiat during sales. Whether online or in physical stores, this real-time conversion eliminates the volatility barrier that previously hindered crypto use in everyday retail. Further, merchants receive fiat currency directly, insulating them from price swings. This partnership signals a significant advancement in bridging the gap between blockchain infrastructure and global commerce.
As the crypto world gains further traction in policy and geopolitics, former UFC champion and now Irish presidential hopeful Conor McGregor made headlines with plans extending beyond the octagon. Meeting El Salvador’s President Nayib Bukele during the Bitcoin Nation State Summit, McGregor advocated for a strategic Bitcoin Reserve in Ireland. Known for his vocal support of Bitcoin, McGregor believes such a move could boost Ireland’s financial sovereignty and long-term resilience.
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Meanwhile, decentralized finance marked a historic milestone this week, as Uniswap became the first decentralized exchange to surpass $3 trillion in lifetime trading volume. CEO Hayden Adams shared the achievement on X, highlighting the protocol’s role in reshaping the financial system since its 2019 inception. According to Dune Analytics and DeFiLlama data, Uniswap now averages $3.1 billion in daily volume and commands a 23% market share, firmly establishing itself as the most dominant DEX.
Meanwhile, Coinbase Global Inc. has officially joined the S&P 500 index, replacing Discover Financial Services after its acquisition by Capital One. This makes Coinbase the first and only crypto-focused company to be included in the benchmark index—an achievement that reflects the growing institutional acceptance of the digital asset industry.
On the path from institutional finance to government services, Dubai Finance and Crypto.com signed a Memorandum of Understanding (MoU) enabling crypto payments for public services. Announced at the Dubai FinTech Summit, the partnership directly facilitates Dubai’s Cashless Strategy and brings stablecoin payments to the public sector, an evolution in government-side crypto adoption.
Back on Ethereum, the second-largest cryptocurrency by market cap, the breakout happened, sending prices flying from $1,800 to nearly $2,700 in days. As of press time, ETH trades around $2,619, holding above key moving averages. The slight pullback after hitting $2,725, together with strong trading volumes and whale accumulation, still maintains the bullish stance. Moreover, three major withdrawals from OKX totaling 6,053 ETH ($15.66M) indicate some level of institutional interest, with all funds being transferred to a single wallet—maybe a sign of strategic positioning.
Within this realm of decentralized physical infrastructure development, the Bee Maps platform, built over Solana’s Hivemapper, has been recognized as having Lyft as a client. The partnership, which began in 2024, utilizes live spatial data from AI-powered dashcams in support of Lyft’s map and autonomous vehicle systems. This acts as a classic example of how blockchain-enabled data infrastructure supports real-world applications.
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Brazil’s Méliuz S.A. made waves by acquiring 274.52 BTC for $28.4 million, repositioning itself as the country’s first public Bitcoin treasury company. The firm now holds 320.25 BTC, valued at over $33.3 million. Approved by shareholders on May 15, the move reflects a strategic pivot toward a Bitcoin-centric treasury model, aiming to maximize BTC per share
The market activity also ramped up for Dogecoin as one month saw large holders amass more than 1 billion DOGE, increasing the holdings from 24.6 billion to 26.6 billion. While prices took a high of $0.24, they corrected back to $0.2186 on May 17. With a 3.6% drop per day accompanied by a drastic 31.55% decline in trading volumes, there is a suggestion of waning momentum despite strong accumulation in recent days.
Overall, Mastercard’s stablecoin introduction and Coinbase’s joining the S&P 500 Index have garnered massive attention. As more players participate, crypto is progressing towards mainstream status at a faster rate. While the market may fluctuate, signs from players indicate that they believe blockchain will be of importance in finance, government, and infrastructure for years to come.
