Ethereum News Today: Small Businesses Win as Ethereum Nears Peak and Crypto Gains Practical Value

Ethereum price movements have drawn attention as the second-largest cryptocurrency inches closer to a new all-time high, with Ethereum (ETH) trading within $50 of its historical peak as of August 22. This upward trajectory has sparked renewed interest in how crypto holders can leverage their gains for real-world spending, particularly through platforms like SpacePay, which enables Ethereum-based transactions in everyday commerce [2].

SpacePay, a London-based startup, is positioned to bridge the gap between crypto volatility and real-world utility by offering a payment solution that integrates seamlessly with existing infrastructure. The company’s platform works with Android-based card readers, which are already in use by millions of small businesses. By supporting over 325 crypto wallets—including popular options like MetaMask and Trust Wallet—SpacePay allows merchants to accept crypto payments without the need for additional hardware or extensive technical training [1].

A key innovation of SpacePay is its ability to convert cryptocurrency to fiat currency instantly at the point of sale. This approach mitigates the volatility risk for merchants, who receive funds in real-time in their local currency. For example, if a customer pays with Ethereum, the merchant receives the equivalent in SGD (or another local currency) immediately, regardless of how the value of ETH fluctuates afterward. This instant conversion mechanism ensures businesses are not exposed to price swings, a major concern for those hesitant to adopt crypto payments [1].

The platform also operates on a significantly lower fee structure compared to traditional payment processors. Instead of charging 2% to 4% per transaction, SpacePay takes only 0.5%, making it an attractive option for small businesses that often operate on thin margins. For a business generating $40,000 in monthly sales, this difference could save up to $800 per month in processing costs—money that could be reinvested in the business or used to cover expenses like rent and employee wages [1].

In parallel, the broader adoption of cryptocurrency as a legitimate payment method is gaining traction, particularly in high-value transactions. Volkswagen Group Singapore (VGS), for instance, has partnered with FOMO pay to allow customers to pay for vehicles and aftersales services using Bitcoin and Ethereum. This move aligns with Singapore’s broader digital asset adoption, where 26% of the population now owns cryptocurrency. The initiative not only reflects a growing normalization of crypto in everyday commerce but also positions VGS as an innovator in a rapidly evolving financial landscape [3].

As more major players enter the crypto payment arena—such as Ferrari, Tesla, and other automotive dealers—there is a clear trend toward integrating digital assets into mainstream transactions. This shift is not limited to automotive sales; platforms like BitCars and Crypto Emporium also allow buyers to purchase high-end brands with cryptocurrency. These developments signal a broader acceptance of digital currencies in sectors where traditional payment methods are deeply entrenched [3].

The Ethereum price rally and growing adoption of crypto-based payment solutions highlight the increasing practicality of digital assets in real-world use cases. While challenges such as regulatory uncertainty and security concerns persist, platforms like SpacePay are actively addressing these issues by offering secure, cost-effective, and user-friendly solutions for both investors and businesses [1]. As Ethereum continues to climb toward new highs, the ability to spend these gains in tangible, everyday transactions is becoming more accessible, further solidifying the role of crypto in the global economy.

Source: [1] Crypto Investors Are Taking Notice of SpacePay This ... (https://99bitcoins.com/news/crypto-investors-are-taking-notice-of-spacepay-this-summer-heres-why-it-should-be-on-your-radar-too/) [2] Ethereum Price Live: ETH Hits New All-Time High Above $4,880 (https://cryptonews.com/news/ethereum-price-live-eth-nears-all-time-high-just-50-away/) [3] Volkswagen Singapore Pioneers Crypto Payments with ... (https://www.fxleaders.com/news/2025/08/19/volkswagen-singapore-pioneers-crypto-payments-with-bitcoin-and-ethereum/)