Web2 companies making waves in crypto

GM Baos,

Doods are up today 💗

How cool is The Stoodio?

Today we cover:

• Mastercard Crypto Credential

• Google Cloud's Web3 startup program

• Crypto transfers on Venmo

Mastercard Crypto Credential 🔥

Mastercard has teamed up with several Web3 companies to launch the Mastercard Crypto Credential standard. They're working with blockchain networks Aptos Labs, Ava Labs, Polygon, The Solana Foundation, and also with wallet providers Bit2Me, Librium, Mercado Bitcoin, and Uphold.

The goal of Mastercard Crypto Credential is to "establish a set of common standards and infrastructure that will help attest trusted interactions among customers and businesses using blockchain networks".

Here are some of Mastercard's ideas:

• Use metadata to help ensure only intended transactions are completed

• Provide straightforward aliases to help consumers share wallet addresses

• Use CipherTrace to help verify addresses and support Travel Rule compliance for cross border transactions

Google Cloud's Web3 startup program ☁️

Google Cloud just announced its Startups Cloud Program designed for Web3 project and startups. It's pretty cool because the program is available to all startups, even if they haven't received any funding yet.

The program has two tiers depending on whether you've received funded before or not.

The Start tier (pre-seed)- gives you $2,000 in Google Cloud credits, access to Google Cloud events at global Web3 conferences like Paris Blockchain Week, Consensus, and TOKEN2049 Singapore + more.

The Scale tier (seed to series A)- gives you everything in the Start tier + additional benefits, like foundation grants from program partners of up to $1m each.

Crypto transfers on Venmo 👀

If you're outside the USA, you might not be familiar with Venmo, but it's essentially the same thing as PayPal. It's a platform for making payments that was acquired by PayPal in 2013. A lot of people use it to pay back friends for things like food, rent and other expenses.

PayPal enabled crypto transfers on its platform last June, and now it's giving the 60 million Venmo customers the option to move their crypto to external wallets/exchanges or to a PayPal account starting in May.

Venmo customers have been able to buy and sell BTC, ETH, LTC and BCH through the mobile app since 2021. And if you're a Venmo Credit Card customer, you can even earn cash back rewards in the form of crypto.

It seems like people are keen to buy crypto and hold it on Venmo as it's an easy on-ramp. According to Venmo, almost 50% of customers with existing crypto balances have added to their holding on the app since the beginning of 2023.

Bao-Sized News

• Binance U.S. adds support for Unstoppable Domains and introduces .BinanceUS domains on Polygon Network 

• PancakeSwap launches LSD integration with Binance 🥞

• Robinhood introduces Web3 on-ramp Robinhood Connect

• Mike Seavers joins Yuga Labs as CTO 🤩

Made us Kek

Thanks for reading today. Don't forget to share The Dumpling with your frens 🥟

–Cassidy