Telecom
PayPal launches its stablecoin on the Solana blockchain to expand market share

Payment giant PayPal has officially deployed its fiat-backed stablecoin, PayPal USD (PYUSD/USD) on the Solana blockchain, which is popular for its cheap, quick transactions and the backing of numerous ecosystem applications.
According to its official statement, this integration makes PYUSD transactions faster and cheaper, offering users increased flexibility and control by providing the option to use multiple blockchains.
The integration with Solana ensures that PayPal and Venmo wallets display PYUSD as a unified balance. Users can choose to send PYUSD on either the Ethereum or Solana blockchains when transferring to external wallets.
Additionally, PYUSD is now available for purchase on platforms like Crypto.com, Phantom, and Paxos.
The timing of PayPal’s announcement coincides with a surge in the stablecoin market. Ripple said in April it plans to launch a stablecoin designed primarily for enterprise clients, alongside XRP, later this year.
“The availability of PYUSD on the Solana blockchain supports our goal of enabling a stable digital currency for commerce and payments,” said Jose Fernandez da Ponte, VP of crypto business at PayPal.
“The Solana network’s speed and scalability make it the ideal blockchain for new payment solutions that are accessible, cost-effective, and instantaneous. Adoption by industry participants like PayPal drives the next generation of fintech innovation,” added Sheraz Shere, GM of Payments at Solana Foundation.
Solana has made a name for itself with its high throughput, handling about 65,000 transactions per second (TPS), while Ethereum processes around 30 TPS. This big difference is attributed to Solana’s Proof of History (PoH) mechanism combined with the Proof of Stake (PoS) model, which speeds up transaction and block validation.
PayPal became the first major financial services company to release a public stablecoin with the introduction of PYUSD last August. Issued by Paxos Trust Co. and pegged to the dollar, PYUSD allows customers to redeem it for dollars, use it for purchases, and buy other cryptocurrencies.
Despite numerous efforts to expand the utility of its PYUSD stablecoin, USDC and Tether’s USDT still account for nearly 99% of the stablecoin market on Solana.
Stablecoins are among the most successful real-world applications of crypto technology, and they are increasingly being used to pay for goods and services in various parts of the world.
Telecom
Telcos Warns of Nationwide Telecom Blackout over Diesel Shortage

Association of Telecommunications Companies of Nigeria (ATCON), has raised the alarm over a diesel supply crisis caused by an ongoing strike by the National Union of Petroleum and Natural Gas Workers (NUPENG).
Mr Tony Emoekpere, president, ATCON in a statement said that the fuel supply disruption is critically affecting telecom base stations, pushing them to the brink of a shutdown and threatening millions of mobile and internet users in the region.
“This strike, which stems from the persistent harassment of tanker and petroleum product drivers by police officers in Lagos State, has effectively halted all truck loading operations and fuel movements,” Emoekpere stated.
He explained that diesel supply to telecom infrastructure has been severely impacted, leaving critical sites with dangerously low fuel levels.
According to him, if urgent measures are not taken, the situation could escalate into a full-blown network blackout, disrupting essential services, including mobile and internet access, business operations, emergency response systems, and daily communications.
ATCON has called on the governors of Lagos and Ogun states to intervene immediately by facilitating the release of diesel from depots to telecom operators to prevent further deterioration of the situation.
“This is not just a telecom issue—it is a national emergency that could cripple economic activities and compromise public safety,” Emoekpere stressed.
The association also appealed to security agencies and petroleum unions to resolve the crisis swiftly to safeguard Nigeria’s connectivity and economic stability.
ATCON emphasised that a prolonged disruption in fuel supply to telecom infrastructure could have far-reaching consequences for both businesses and individuals who rely on stable communication networks for daily operations.
Telecom
Nigerians Spend N5.3 Trillion on Telecom Services

In 2023, Nigerians spent a total of about ₦5.3 trillion on telecommunications services, which includes calls, data, SMS, and other telecom services, according to the Leadership.
Specifically for voice calls, Nigerians made approximately 408.5 billion minutes of local calls, generating around ₦3.28 trillion from outgoing calls and ₦3.23 trillion from incoming calls, totaling about ₦6.51 trillion in call-related revenue according to projections based on 2023 call volumes and tariff data.
However, the ₦5.3 trillion figure represents the overall telecom sector revenue, with voice calls being a major component but also including data and other services.
For individual spending, MTN subscribers spent an average of ₦2,508 monthly on voice calls in 2023, showing a 14.4% increase from 2022, while Airtel customers spent about ₦1,694 monthly on voice calls.
Total telecom spending (calls, data, SMS, etc.): ₦5.3 trillion in 2023
Estimated revenue from voice calls alone: around ₦6.5 trillion based on call minutes and tariffs
Average monthly spending on calls per subscriber: ₦1,694 to ₦2,508 depending on the network
Telecom
MTN Chairman, Industry Leaders Honour Late Dr. Pascal Dozie’s Legacy at NGX Tribute

Nigeria’s corporate elite gathered recently to bid farewell to one of the nation’s most influential business titans, Dr. Pascal Gabriel Dozie.
The Nigerian Exchange Group’s headquarters in Marina, Lagos, played host to an ‘Afternoon of Tributes’ that saw industry captains, financial moguls, and family members celebrate the extraordinary legacy of a man who helped reshape Nigeria’s economic landscape.
MTN Nigeria Chairman, Dr. Ernest Ndukwe, captured the mood of the gathering when he described the late Dozie as “a visionary leader, a true patriot, and a trailblazer” whose impact continues to reverberate across Nigeria’s business terrain.
“Thanks to his remarkable foresight and unwavering dedication, MTN Nigeria didn’t just find its footing—it soared,” Ndukwe told the distinguished audience.
“Today, it stands not only as the largest telecommunications company in the country but also as one of the most highly valued corporations on the NGX Premium Board.”
The symbolic bell-ringing ceremony—a highlight of the event—paid homage to Dozie’s pivotal role in transforming both Nigeria’s capital market and telecommunications sector.
Speaker after speaker painted the portrait of a man whose influence transcended conventional boundaries. Beyond founding Diamond Bank and steering MTN Nigeria to unprecedented heights, Dozie was celebrated for embodying the rare combination of business acumen and ethical leadership.
Throughout the afternoon, the late business icon was remembered not merely as a successful entrepreneur but as a nation-builder whose contributions spanned critical sectors from banking and telecoms to public policy and education.
More than his corporate achievements, however, it was Dozie’s personal qualities that dominated tributes—his uncompromising integrity, innovative thinking, disarming humility, and lifelong commitment to service.
As the event concluded, it became clear that the gathering was more than a memorial—it was a celebration of possibilities, a testament to what can be achieved when purpose meets passion and when leadership is firmly rooted in service to others.
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