Core Insights - ELLIPAL and PAYDAO have launched ELLIPAL Pay × PAYDAO, a self-custodial, on-chain Point-of-Sale payment ecosystem enabling native stablecoin payments at physical merchant locations [1][3] Payment Architecture - The new payment architecture separates authorization, settlement, and custody from traditional banks and centralized intermediaries, executing transactions directly through a decentralized payment protocol [3][4] - Unlike existing hybrid models that rely on traditional card networks and fiat currencies, ELLIPAL Pay × PAYDAO operates independently of banks and card networks, allowing for a more efficient payment process [4][5] Transaction Efficiency - The system allows for sub-1% transaction fees, real-time on-chain settlement, and irreversible transactions, addressing issues such as high fees and delayed settlements faced by merchants [6][8] - Each transaction is authorized locally on a self-custodial NFC payment card, signed offline, and settled directly in stablecoins [7][8] Comparison with Hybrid Models - A comparison highlights the differences between hybrid crypto payment models and ELLIPAL Pay × PAYDAO: - Custody Model: Self-custodial vs. custodial/semi-custodial - Settlement Layer: Decentralized payment protocol vs. traditional payment rails - Settlement Currency: Stablecoins vs. fiat (USD) - Bank Dependency: None vs. required - Settlement Speed: Real-time vs. T+1/T+2 - Chargebacks: Not possible vs. possible - Fee Structure: Sub-1% vs. 2-5% plus processing costs [9] Decentralized Deployment Model - The ecosystem introduces a decentralized deployment model allowing independent participants to deploy POS terminals, with rewards based on real transaction activity, promoting growth without centralized control [10] Future Outlook - The ELLIPAL Pay × PAYDAO ecosystem is currently in a validation phase with plans for multi-chain EVM integration in 2026 and broader merchant adoption in 2027, indicating a shift towards blockchain-native payment systems in global commerce [11]

Core Insights - Bitget Wallet is advancing its PayFi initiative, integrating QR code technology into decentralized payment systems, marking significant progress in connecting traditional finance with the Web3 decentralized world [2][3] - The PayFi project aims to provide a familiar cryptocurrency payment experience while embracing the future of Web3, focusing on user-centric design [2][4] Group 1: PayFi Initiative - The PayFi initiative explores how QR code-based transactions can operate securely within self-custody wallet environments, analyzing regional QR payment standards and their interoperability with decentralized protocols [3] - The project is in its early research phase, prioritizing responsible development and a deep understanding of the technology rather than rapid deployment [3] Group 2: Market Trends - QR code payment infrastructure has shown significant growth in Southeast Asia, with Vietnam experiencing a 170% year-on-year increase in QR code payments in 2023, driven by popular e-wallets [2] - The Philippines has also seen rapid growth with its national QR Ph standard, accepted by over 2.5 million merchants and supported by leading platforms like GCash and Maya [2] Group 3: Future Vision - The integration of QR code functionality reflects a deeper transformation towards inclusive, interoperable payment systems rooted in user ownership [4] - Bitget Wallet's PayFi initiative envisions a future where cryptocurrency payments are as simple as scanning a code, bridging decentralized and traditional systems [4] Group 4: Company Overview - Bitget Wallet is a non-custodial crypto wallet with over 80 million users, offering a full suite of cryptocurrency services, including swaps, market insights, staking, rewards, and payment solutions [6] - The wallet supports over 130 blockchains and millions of tokens, facilitating seamless multi-chain transactions across hundreds of decentralized exchanges [6]