PayPal to Launch More Stable Crypto…and Other Tech News for Small Businesses This Week

Here are five tech events that happened in the past week and how they affect your business. Did you miss them?

1 —PayPal is getting closer to launching its own stablecoin.

PayPal announced last week that it plans to roll out its own PayPal Coin which will be supported by the US dollar. The announcement did not specify how close PayPal is to launch. According to reports, PayPal needs to have clear guidelines on required regulations and licenses. Additionally, the stablecoin should be secure and support large-scale payments. (Source: Yahoo finance)

Why it matters to your business:

Perhaps the biggest problem with all cryptocurrencies is their volatility. This is what keeps many mainstream businesses – and small businesses – from adopting this type of payment method. But stablecoins may be the answer. As Bob Mason explains, “Stablecoins are virtual currencies. Unlike cryptos such as Bitcoin (BTC) and Litecoin (LTC), values ​​are pegged to traditional assets. These can include the US dollar, in the case of USD Tether (USDT) or even gold in the case of the gold-backed stablecoin Paxos Gold (PAXG) If this model works, it could open the door to other digital currencies for they take similar measures.

2 — Here are some ways in which new HR technologies can help companies fight the Great Resignation.

Since the start of the pandemic, companies have faced widespread resignations, leaving them with a massive talent shortage. Some emerging HR technologies can help companies gauge their employees’ performance and sentiment, which could help retain talent. Some of the technologies include CultureAmp and Workvivo, which can help monitor employee satisfaction. Other platforms like Better Up and Torch helping employees keep their mental health top of mind. Source: (fast business)

Why it matters to your business:

Fast Company’s Kevin Diestel did a great job explaining how different HR technologies are being used by large and small companies to help address performance, productivity, mental health, and diversity issues. You should check out some of these apps and services.

3 —Lootex has raised $9 million for its blockchain metaverse marketplace.

Lootex announced last week that it had recently raised $9 million with the intention of using the funding to grow its planned metaverse marketplace. Once done, players would potentially have the ability to purchase and trade items on numerous blockchains. Lootex shared that currently their marketplace supports over 12,000 NFTs spread across 500 collections. (Source: business beat)

Why it matters to your business:

In the Metaverse, individuals and businesses will soon be buying and selling digital objects – furniture, artwork, buildings, supplies – to create their own unique world that will be cool for their visitors and fun to view. It’s not that different from the real world, is it?

4 — Best Buy is jumping into the booming retail media network space.

Best Buy announced last week that it was rolling out its redesigned media company called Best Buy Ads. According to the retail chain, it interacts with customers 3 billion times a year. The company shared that its in-house company can help all brands, not just electronics-focused ones, reach audiences. Best Buy Ads will help shoppers find deals, services and products. (Source: morning infusion)

Why it matters to your business:

Internal advertising is a huge trend in retail this year. Think about it: people walk through your store and are hit by advertisements – via videos, signs, etc. – promoting the products you sell. You sell advertising space to brands and suppliers. You also sell their products. This is a potentially lucrative new revenue stream that can make a difference for retailers of all sizes.

5— Novo has raised $90 million to reinvent small business checking accounts.

Small business banking platform Novo announced last week that it had raised $90 million in funding. The additional funding will help the company make dramatic improvements by helping small businesses with their cash flow by enabling them to access their funds faster than ever. The funding will also help Novo build more efficient lending integrations and processes so small businesses can speed up the way they send and receive money. (Source: business thread)

Why it matters to your business:

As online banking continues to gain acceptance among small businesses, banks like Novo are expanding their services to provide services that are backed by FDIC insurance, with no hidden fees, monthly fees, or credit card requirements. minimum balance, simple and easy-to-use mobile apps, free transfers, posted checks and incoming transfers that integrate with many small business tools.

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