Welcome to the Sei Overview. In this edition, we explore the network joining the Mastercard program, the two’s ongoing relationship, and stablecoin growth.
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By the Numbers
$SEI token price: $0.06 (+1.1%)
Market cap: $402.4M (+1.08%)
Sei Total Value Locked (TVL): $63.7M (+0.8%)
Daily EVM transactions: 703.2K (-58.6%)
Daily EVM active addresses: 652.2K (-59.2%)
Block time: 0.47s (-24.2%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: Sei has joined the Mastercard Crypto Partner Program.
💨 Why it matters: Mastercard’s Crypto Partner Program aims to bring together crypto-native companies, payments providers, and financial institutions to collaborate on solutions for cross-border remittances, B2B transfers, payouts, and settlement.
The program aligns Sei directly with Mastercard's network of financial institutions, technology partners, and regulatory expertise, as well as unlocks avenues toward future onchain payment products. In addition, the announcement post states two two have created a whitepaper around blockchain frameworks for evaluating financial services.
As digital assets mature, the market they serve will shift from crypto-native users to fintechs, banks, and merchants.
💨 The bigger picture: Digital assets are moving from a parallel system to a behind-the-scenes layer in finance, facilitating settlements, payouts, and cross-border money transfers. Instead of trying to reinvent the wheel, Mastercard posits that financial services can run onchain in the background, and be plugged into established card rails.
Sei's addition to the program offers traditional payment institutions broader access to high performance EVM network capabilities and positions the network as a candidate for traditional financial settlement integrations.
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Sei’s stablecoin market cap hit an all-time high of $332.9M on May 15, after Ondo’s USDY active addresses increased to 107 and PayPal’s PYUSD on Sei reached a market value of $11.9M
Total deposits on Feather’s borrow and lend vault on Sei reached an all-time high of $52.2M, in line with the broader recovery of the DeFi market
What’s the community Sei’ing
Highlighting the builders, users and ecosystem players within the Sei blockchain.
Lock in to the ecosystem
Want to get involved?
Check out the latest jobs at the Sei Development Foundation and Sei Labs
Participate in Yei Finance's Nitro campaign to earn a piece of a $270K rewards pool for lending USDC
Sign up for NY Tech Week events hosted by Sei: Sumvin’s Happy Hour on June 1 and Mastercard’s institutional panel on June 2
That’s all for this week.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.