BNY, the world's largest custodian bank with $59.4 trillion in assets under custody, has made USDC the first stablecoin on its Digital Asset Custody platform, enabling institutional clients to store, transfer, mint, and redeem Circle's dollar-pegged token alongside traditional assets.
BNY, the world's largest custodian bank, has made USDC the first stablecoin supported on its Digital Asset Custody platform, giving institutional clients a single environment to store, transfer, mint, and redeem Circle's dollar-pegged token alongside traditional assets.
The integration, announced Monday by Circle on its official X account, extends a relationship between the two firms that began in 2022, when Circle selected BNY as the primary custodian of USDC reserves. BNY oversees $59.4 trillion in assets under custody and administration, per its first-quarter 2026 earnings. USDC holds $73.71 billion in circulation, the second-largest stablecoin by market cap, per DefiLlama.
Custody-to-Mint in One PlaceUnder the expanded arrangement, BNY's institutional clients can hold USDC in digital asset custody wallets maintained by the bank, then instruct BNY to have Circle convert U.S. dollars into USDC (mint) or redeem USDC back into dollars (burn). That brings fiat cash management and blockchain-based settlement into one operational framework, removing the handoff between a traditional custodian and a separate stablecoin infrastructure provider.
BNY said it plans to extend the capability to additional stablecoin issuers and broader digital cash workflows over time.
GENIUS Act Opens the DoorThe GENIUS Act, the Guiding and Establishing National Innovation for U.S. Stablecoins Act signed by President Trump in July 2025, gave federally chartered depository institutions explicit authority to provide custody services for payment stablecoins. The law requires permitted stablecoin issuers to maintain 1:1 reserves in liquid assets including U.S. dollars and short-term Treasuries, and it allows OCC-regulated institutions to provide stablecoin custody within the existing supervisory framework without holding additional regulatory capital against the assets.
BNY's January 2026 tokenized-deposit launch was the first visible step in executing that strategy. The USDC custody expansion is the next: the January announcement put tokenized bank deposits on a private blockchain for collateral and margin workflows; Monday's move brings an external stablecoin issuer onto the same platform, opening USDC to BNY's institutional client base.
The bank said the Digital Assets platform is governed by established risk, compliance, and control frameworks and that client balances continue to be recorded on traditional systems to maintain regulatory and reporting integrity.
BNY's Digital Asset ArcBNY's move into digital assets has followed a deliberate sequence. In November 2025, the bank launched the BNY Dreyfus Stablecoin Reserves Fund, a money-market vehicle designed to hold reserves for stablecoin issuers including Circle. In January 2026, it extended digital cash capabilities to institutional clients via tokenized deposits on a permissioned blockchain, with participants including Citadel Securities, Anchorage Digital, and ICE. Monday's USDC announcement follows as the third step: custody, plus the ability to mint and burn USDC directly from a BNY account.
Dante Disparte, Circle's chief strategy officer, said at the January 2026 tokenized-deposit launch that the BNY relationship has been "anchored by a shared vision" of demonstrating that "speed and new use cases do not come at the expense of safety and soundness expectations of the world's leading financial institutions," per BNY's announcement.
The expansion comes as Invesco filed for a GENIUS Act-compliant tokenized stablecoin-reserve money-market fund on June 25, and as Baillie Gifford launched a tokenized bond fund on Solana and Ethereum with BNY custody on June 23. BNY appears as the custodial layer across each of those institutional digital-asset moves.
The Bank of New York Mellon (BNY) has expanded its partnership with Circle Internet Group (CRCL) to deliver full-lifecycle stablecoin capabilities to institutional clients. Circle's USDC, the second-largest stablecoin by market capitalization, will become the first supported asset on BNY’s Digital Asset Custody platform.
Through their partnership, the firms will enable users to custody, transfer, mint and burn USDC directly through BNY, according to the announcement on Monday. Institutional clients can now hold USDC in their BNY digital custody wallets and instruct the bank to convert U.S. dollars into newly minted USDC or redeem, or "burn," USDC back into dollars.
The new service builds on BNY’s role as primary custodian for USDC reserves and creates a seamless bridge between traditional fiat and digital assets.
"BNY has always been where institutional finance moves first, and making USDC the first stablecoin included in their new offering reflects the regulatory rigor Circle has built into USDC from day one," Circle Chief Commercial Officer Kash Razzaghi said. "This is the next chapter in a longstanding relationship that now gives BNY clients connectivity between on-chain and traditional assets, within the infrastructure they already trust."
BNY, the world's largest custodian bank, said it plans to add support for additional stablecoin issuers over time. It initially supports USDC issued on Ethereum and Solana.
This is not BNY’s first step into crypto. Earlier this year, the bank opened a tokenized deposit service for six clients, including ICE and Citadel Securities.
It was also one of the first major Wall Street institutions to offer regulated digital asset custody in the U.S. and other regions and provides support for the majority of spot BTC and ETH ETFs.
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BNY has added USDC minting, redemption, custody and transfer services to its Digital Asset Custody platform, giving institutional clients direct access to Circle’s stablecoin through the bank.
Summary
BNY has enabled institutional clients to mint, redeem, store and transfer USDC directly through its Digital Asset Custody platform. The bank has expanded its role with Circle beyond safeguarding USDC reserves by adding client-facing stablecoin services. BNY joins Invesco, JPMorgan and State Street as major financial institutions rolling out products tied to stablecoin reserves and infrastructure. According to BNY, the update allows clients to turn U.S. dollars into USDC and redeem the stablecoin back into dollars from within its platform. The bank said clients can also hold and transfer USDC through its digital asset custody service, making Circle’s token the first stablecoin supported by the platform.
The service deepens BNY’s existing relationship with Circle. BNY already serves as the primary custodian for the assets backing USDC, and the latest expansion moves the bank beyond reserve custody into direct stablecoin services for institutional clients.
BNY said it plans to add support for more stablecoins and digital cash workflows over time. The bank did not name the next assets it may support or give a timeline for the expansion.
BNY is taking USDC deeper into institutional custody BNY said it oversees $59.3 trillion in assets under custody and administration and serves more than 90% of Fortune 100 companies. Its USDC support gives large institutions a bank-based route to access stablecoin issuance and redemption without moving outside a regulated custody environment.
USDC is the second-largest stablecoin by market value, with more than $73.8 billion in circulation, according to DefiLlama data. Tether’s USDT remains the largest stablecoin, while DefiLlama data places the total stablecoin market at about $313 billion.
The announcement also follows BNY’s recent work in other areas of digital asset custody. In May, the bank partnered with Abu Dhabi-based Finstreet and the ADI Foundation to develop institutional custody services for Bitcoin and Ether, with plans to later include stablecoins and tokenized real-world assets.
By adding USDC minting and redemption to its platform, BNY is placing stablecoin activity closer to the custody and settlement systems already used by institutional clients. Circle’s role remains tied to USDC issuance, while BNY’s expanded service gives clients custody and movement tools around the token.
Banks are building products for stablecoin reserves BNY’s move comes as large financial firms develop products tied to stablecoins, reserve assets and tokenized cash management.
Last week, Invesco filed with the U.S. Securities and Exchange Commission to launch a tokenized money market fund for stablecoin reserve management. According to the filing, the fund would invest in cash and short-term U.S. Treasury securities.
In May, JPMorgan filed to launch a tokenized money market fund designed for stablecoin issuers. The Ethereum-based fund would invest in U.S. Treasury bills and overnight repurchase agreements used to back payment stablecoins.
State Street also launched a government money market fund for stablecoin issuers earlier this month. The fund invests in U.S. government securities and repurchase agreements, with State Street Bank and Anchorage Digital listed among its first investors.
Other financial firms have also moved into stablecoin-related services. In January, Fidelity Investments launched its U.S. dollar-backed stablecoin FIDD after receiving conditional approval to operate a national trust bank.
Together, the announcements show how major banks and asset managers are building around the reserve, custody and payment layers of stablecoins as institutional demand for digital cash infrastructure grows.
@BNYglobal, one of the world's largest custody banks, has made Circle's @USDC the first stablecoin on its Digital Asset Custody platform, deepening a relationship with @circle that stretches back to 2022. BNY oversees $59.3 trillion in assets, giving the new USDC services immediate institutional scale.
What Institutional Clients Can Now Do Under the expanded arrangement, institutional clients can now hold USDC directly in digital asset custody wallets maintained by BNY. The bank also enables clients to instruct Circle to convert U.S. dollars into USDC (mint) and redeem USDC back into dollars (burn), bringing fiat custody and blockchain-based settlement into one operational framework.
By combining digital asset custody with fiat cash management, the platform is designed to support the full lifecycle of institutional stablecoin transactions while providing a single operating environment for both traditional and blockchain-based assets. For institutional clients, this reduces friction. Previously, accessing USDC often required separate accounts with crypto-native custodians or exchanges. Now, clients can manage their stablecoin holdings within BNY's existing custody framework, which is already used by many of the world's largest asset managers and financial institutions.
A Partnership Built on USDC Reserves The announcement follows a collaboration that began in 2022, when Circle named BNY Mellon as one of its key USDC reserve custodians. The offering makes Circle's flagship stablecoin the platform's first supported stablecoin and extends BNY's existing role as custodian of USDC reserves.
BNY said the integrated platform is designed to support institutional adoption of digital assets by bringing blockchain-based transactions into existing financial workflows, with plans to support additional stablecoins over time. The move reflects growing demand from traditional financial institutions for regulated stablecoin infrastructure.
Sources:
CoinDesk: Wall Street's BNY Expands Stablecoin Ties With Circle
Crypto Briefing: BNY Mellon Integrates USDC as First Stablecoin on Digital Asset Custody Platform
Bitcoin.com News: BNY Gives Institutions Power to Mint and Burn USDC Directly From Custody
Solana RWA distributed asset value climbed to $3.03B after posting a 13.2% increase over 30 days. Monthly RWA transfer volume surged 120.5% to $8.53B, marking the fastest-growing network metric. RWA holders reached 290,481 after growing 24.4% in one month, showing wider ecosystem participation. Solana stablecoin market cap rose to $15.77B, supporting liquidity across the expanding RWA market. Solana’s real-world asset market continues to expand as fresh on-chain data points to stronger activity across tokenized assets.
The latest figures show higher asset values, growing participation, and a sharp rise in transfer volume. Stablecoins also remain a major source of liquidity across the network. The new metrics highlight steady growth across multiple parts of the Solana ecosystem.
Solana RWA Ecosystem Records Higher Asset Value and User Growth Data shared by Everstake shows the Solana RWA ecosystem reached $3.03 billion in distributed asset value. That marks a 13.2% increase over the past 30 days.
❗@solana's RWA ecosystem is reaching a whole new level.
Every month, the numbers get bigger.
And more importantly, they show that real-world assets are becoming an increasingly important part of the Solana ecosystem.
• $3.03B in distributed asset value, up 13.2% over the… pic.twitter.com/vpyj2eJowj
— Everstake (@everstake_pool) June 29, 2026
The same dataset shows the number of RWA holders climbed to 290,481. Monthly holder growth reached 24.4%, indicating broader participation in tokenized assets.
Transfer activity expanded even faster. Solana recorded $8.53 billion in 30-day RWA transfer volume, representing a 120.5% increase from the previous month.
Everstake highlighted transfer volume as the strongest metric during the latest reporting period. The figures suggest assets moved across the network at a much faster pace than before.
The platform also reported 2,115 tokenized real-world assets operating on Solana. Represented asset value stood at $125.86 million during the same period.
Stablecoins Continue Powering Solana RWA Market Activity Stablecoins remained the largest segment supporting the Solana RWA market. Network data placed the total stablecoin market capitalization at $15.77 billion, up 3.43% over 30 days.
Stablecoin transfer volume reached $487.08 billion during the month. Activity increased 3.59%, even as stablecoin holders declined 7.77% to 10.95 million.
The league table published alongside the data ranked Circle as the largest platform by asset value. Circle accounted for approximately $7.1 billion across three supported asset classes.
Tether Holdings followed with roughly $3.8 billion, while Paxos ranked third at $1.4 billion. BitGo, Securitize, Anchorage Digital Bank, Ethena, Ctrl Alt, Solstice, and Ondo completed the top ten.
Among individual assets, USDC remained the largest tokenized product on Solana with nearly $6.97 billion in distributed value. USDT followed at about $3.77 billion, while BitGo’s USD1 exceeded the $1 billion mark.
Other leading products included Anchorage Digital Bank’s USDGO, Paxos-issued PYUSD, and Securitize’s BlackRock USD Institutional Digital Liquidity Fund.
According to Everstake’s published figures and the accompanying Solana RWA dashboard, stablecoins continue to dominate network value while tokenized treasuries, private equity, and corporate credit products steadily expand their presence.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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Hyper Foundation will allocate about $10 million in grants to help builders affected by the USDH sunset. The funding is meant to cover migration and wind-down costs as the Hyperliquid ecosystem moves more trading activity toward USDC.
Summary
Hyper Foundation will fund builders affected by the USDH sunset with about $10m in grants. Eligible teams include HIP-1, HIP-3, HyperEVM protocols, bridges and Native Markets. The grant plan supports a wider move from USDH markets toward deeper USDC liquidity. “Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs,” Wu Blockchain said. The post said eligible recipients include HIP-1 and HIP-3 deployers, HyperEVM protocols, USDH bridges and Native Markets.
Hyper Foundation Allocates $10M in Grants to Support USDH Migration
Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs. Grants will be distributed to eligible HIP-1 and HIP-3… pic.twitter.com/Hwy7ZNwswz
— Wu Blockchain (@WuBlockchain) June 28, 2026 The grants come with a clear deadline. Recipients must complete migrations or orderly shutdowns by the end of July. The plan gives affected builders a limited period to update markets, move liquidity, adjust bridges or close USDH-related services.
Eligible builders face July deadline HIP-1 deployers relate to spot market deployments, while HIP-3 deployers relate to perpetual market deployments. Both groups may need support because USDH served as a quote asset or liquidity route for some products. HyperEVM protocols and USDH bridge operators may also face direct technical changes.
Native Markets is also listed among eligible grant recipients. The firm won the validator vote to issue USDH in September 2025, beating larger bidders such as Paxos, Frax and Ethena. Its plan aimed to return reserve yield to the ecosystem through HYPE buybacks and ecosystem support.
The migration affects users as well as builders. Users holding USDH may need to convert balances, close positions or follow protocol-level migration steps. The officialUSDH migration page says the dashboard supports USDH to USDC and u.s. dollar fiat conversions until July 17, while the USDH/USDC spot order book will remain available.
USDC becomes the main stablecoin route The grant program follows Hyperliquid’s wider move toward USDC. Coinbase became the official USDC treasury deployer on Hyperliquid in May, strengtheningUSDC as the aligned quote asset across the ecosystem. The deal also gave Coinbase the right to purchase USDH brand assets from Native Markets.
“USDH remains fully backed and maintained, with feeless conversions into USDC and fiat for onboarded customers available on dashboard.usdh.com,” Native Markets said. The statement means users still have conversion routes while USDH markets move through the transition.
The shift marks a change from the original USDH strategy. USDH launched to reduce reliance on outside stablecoin issuers and keep more reserve yield inside Hyperliquid. However, two stablecoin systems can split liquidity and add friction for traders. A move back toward USDC may simplify markets and reduce conversion steps.
Migration plan follows earlier stablecoin race The USDH sunset follows a competitive stablecoin race that drew wide attention across DeFi. Hyperliquid validators voted on the USDH ticker after proposals from Native Markets, Paxos, Frax, Agora and other teams.USDH later launched in a USDH/USDC pair and recorded more than $2 million in early trading.
The new grant plan now focuses on cleanup rather than expansion. Builders may need to change collateral settings, update front ends, move liquidity, close markets or support users during withdrawals. The July deadline gives the ecosystem a short window to finish those steps.
For Hyperliquid, the grants may reduce the risk of unfinished integrations and stranded liquidity. They also give builders a financial reason to complete the transition on time. The move shows how stablecoin strategy can change quickly when trading venues balance liquidity depth, user experience and reserve-yield economics.
Hyperliquid’s [HYPE] stablecoin market is becoming increasingly concentrated as liquidity continues shifting toward USD Coin [USDC] instead of the native USDH.
The trend reflects traders’ preference for deeper liquidity and established settlement assets over newer DeFi-native stablecoins.
Hyperliquid Foundation has put out roughly $10 million in grants to assist in migration costs and ensure that each of its protocols continues to run smoothly. Those are HIP-1, HIP-3, HyperEVM protocols, bridges, and native markets.
Source: X In addition, users can swap their USDH for USDC through the same migration paths, reducing friction during the transition.
According to DeFiLlama, USDC now dominates Hyperliquid’s stablecoin liquidity.
In fact, USDC accounts for $5.74 billion of Hyperliquid’s $5.96 billion stablecoin pool. Conversely, USDH holdings have fallen sharply to just $20 million.
Source: DeFiLlama Meanwhile, Tether [USDT] trails at around $155 million. These figures clearly indicate that network effects are supporting the growing dominance of USDC.
This imbalance suggests network effects are reinforcing USDC’s leadership, making it the preferred collateral across spot and perpetual markets. If institutional activity continues expanding, USDC’s dominance could strengthen further.
Otherwise, USDH would require meaningful utility improvements to regain market share.
Protocol activity reinforces HYPE utility That orderly migration is already translating into stronger on-chain activity as Hyperliquid continues expanding around its USDC-first model. The shift did not disrupt the user participation.
It allowed for a sustained level of approximately 6,932 Daily Active Addresses and over 315,000 Daily Transactions, according to DeFiLlama data.
Meanwhile, Perpetual Trading Volume remained near $2.8 billion, reinforcing Hyperliquid’s leadership in on-chain derivatives.
Growing activity also generates Annualized Fee Revenue in the hundreds of millions, creating recurring value for the ecosystem. Those fees increasingly flow into HYPE through staking, priority fees, buybacks, and incentives instead of relying mainly on speculation.
If trading activity and USDC liquidity continue growing together, HYPE’s long-term value capture could strengthen further. Otherwise, slower network activity may gradually reduce revenue growth.
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BNY has expanded its partnership with Circle to launch new institutional stablecoin services, allowing clients to custody, transfer, mint and burn USDC through BNY’s Digital Asset Custody platform, the company announced Monday.
BNY’s Digital Asset Custody platform provides institutional investors with regulated custody and servicing for digital assets such as bitcoin, ether and tokenized securities. Designed to bridge traditional finance and blockchain, it integrates digital asset custody with banking services including payments, liquidity management and operational support.
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The offering makes Circle’s flagship stablecoin the platform’s first supported stablecoin and extends BNY’s role as custodian of USDC reserves.
According to the company, clients can now hold USDC in BNY custody while directing Circle to issue or redeem tokens against US dollars, creating a direct connection between traditional cash management and digital asset custody.
BNY said the integrated platform is designed to support institutional adoption of digital assets by bringing blockchain-based transactions into existing financial workflows, with plans to support additional stablecoins over time.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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Bitcoin infrastructure company Breez has added a feature to its developer toolkit that lets users send USDC (USDC) and USDt (USDT) across more than 30 blockchain networks directly from a Bitcoin balance, without first converting or holding stablecoins.
According to an announcement shared with Cointelegraph, the feature uses the Lightning Network alongside automated conversion to route payments from Bitcoin (BTC) to USDC or USDT before delivering funds to the recipient's preferred blockchain.
When a user enters a recipient's wallet address, the Breez SDK identifies the destination blockchain, calculates a conversion route and displays the amount, network and fees before the payment is confirmed. The transaction is then routed through liquidity providers, including Flashnet and Boltz, which convert the sender's Bitcoin into stablecoins and deliver it on the recipient's chosen blockchain.
Roy Sheinfeld, CEO of Breez, told Cointelegraph the feature does not require USDT or USDC to be issued on the Lightning Network. Instead, it relies on "interoperability" to let users spend from a Bitcoin balance while recipients receive stablecoins on supported blockchain networks.
Breez said users continue holding Bitcoin until they initiate a payment, while recipients receive stablecoins on their preferred blockchain without requiring the sender to manage separate stablecoin balances. The feature is non-custodial and initially supports only outbound stablecoin payments, with support for receiving stablecoins from external blockchain networks planned for a future release.
The feature is designed to allow developers to add stablecoin payments without integrating multiple blockchain networks or requiring users to manage separate Bitcoin and stablecoin balances.
Bitcoin payment infrastructure expandsThe launch comes as companies expand Bitcoin and the Lightning Network, a layer-2 payment network designed to make Bitcoin transactions faster and less expensive, into new financial and commercial applications.
In February, Secure Digital Markets, an institutional trading and lending desk, completed a $1 million Bitcoin payment to Kraken over the Lightning Network in less than half a second, demonstrating the protocol's potential for high-value institutional transfers. The transaction illustrated how Lightning is increasingly being tested for use cases beyond small retail payments.
That same month, Bitcoin infrastructure company Voltage introduced a US dollar-settled revolving credit line that embeds business credit into Lightning payment flows, allowing companies to settle repayments in either US dollars or Bitcoin. The product is intended to enable businesses to access working capital using Lightning for payments, without holding crypto on their balance sheets.
Event platform Satlantis also launched a Bitcoin-native ticketing platform with embedded Lightning wallets, allowing organizers to sell tickets and accept BTC alongside traditional payment methods.
In March, Tether-backed Bitcoin infrastructure startup Ark Labs in a $5.2 million funding round to develop technology supporting stablecoin issuance, transfers and settlement on Bitcoin.
Lightning adoption has continued to grow. A February report from River estimated the network surpassed $1 billion in monthly transaction volume in late 2025, up from around $12 million in 2021.
Lightning Network transaction volumes continue to grow. Source: River
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Kraken is set to list the Bittensor subnet Alpha token.
Barry Silbert, founder and CEO of Digital Currency Group (DCG), parent company of Grayscale, reposted on X to disclose that crypto exchange Kraken is set to list Alpha tokens from Bittensor subnets. According to leaked details, the first batch of tokens to be listed includes Chutes, Targon, Score, Ridges AI, Hippius, and others.
1 seconds ago
Trump: Will Take Immediate Action on Fed Governor Lisa Cook’s Eligibility for Her Position
US President Trump stated that in the lawsuit over the eligibility of Federal Reserve Governor Cook, the Supreme Court remanded the case to a lower court solely on procedural grounds. We will immediately take appropriate action to ensure that individuals who have engaged in misconduct do not continue to make decisions on major matters related to the well-being of the United States.
1 seconds ago
Castle Securities warns that the Federal Reserve’s policies will become more stringent.
Castle Securities stated that investors have underestimated Fed Chair Kevin Warsh’s resolve to curb inflation, warning that higher interest rates could put pressure on risk assets. The firm also cautioned that the rally in the artificial intelligence market faces growing risks, including weak demand, declining returns, and intensified political and regulatory scrutiny.
1 seconds ago
X's Android version of XChat is now live.
According to official announcements, the Android version of X’s chat application XChat is now available, allowing users to hold private chats with friends directly within X. The iOS version of XChat launched on the App Store on April 25.
1 seconds ago
Ripple has launched an XRPL lending protocol, with developers now able to integrate and test it on the testnet.
Ripple has launched the XRPL Lending Protocol, an on-chain credit infrastructure for tokenized assets. The protocol’s core principle is to keep credit assessment off-chain while only standardizing execution processes on-chain. Institutions handle their own underwriting and compliance reviews, with the protocol responsible for standardized execution of liquidity pooling, loan disbursement, repayment, and default handling. The protocol comprises two components: the Single Asset Vault, which manages on-chain pooling of individual assets; and the Lending Protocol, which disburses vault liquidity as loans with clear terms. The two correspond to the XLS-65 and XLS-66 proposals respectively and are pending approval from validator nodes. At the infrastructure level, the protocol supports a subordinated capital mechanism, where pool managers assume risk exposure senior to that of other liquidity providers. Developers can now access and test the protocol on the devnet.
1 seconds ago
阿曼外交大臣：不支持收取霍尔木兹海峡通行费
Local time on the 29th, Oman’s Ministry of Foreign Affairs released excerpts from an interview with Foreign Minister Badr. Badr stated that Oman is committed to maintaining a safe, peaceful, and free navigation environment for all parties in the Strait of Hormuz. He pointed out that Oman and Iran have reached a consensus in their ongoing dialogues that any future arrangements related to the Strait of Hormuz must be conducted within the framework of international law. Addressing the widely discussed transit fee issue, Badr said Oman does not support levying tolls on passing vessels, though he did not rule out the possibility of exploring mechanisms related to maritime services. Badr added that topics such as strengthening navigation safety, improving maritime accident emergency response capabilities, and preventing marine pollution could be discussed, with reference to practices from other straits. He noted that such arrangements would be developed in consultation with countries and shipping companies that use the Strait of Hormuz, aiming to enhance maritime services and ensure navigation safety rather than imposing new burdens on global trade. (CCTV News)
Key HighlightsBitcoin-to-USDC Payment Capability Now Available Through Breez SDKUSDT Payment Functionality Extended Across Multiple Blockchain NetworksEnhanced Functionality for Bitcoin Payment Ecosystem Breez enables direct stablecoin transmission from Bitcoin holdings without requiring users to maintain USDC or USDT balances.
The payment solution operates across more than 30 different blockchain networks.
Bitcoin remains in user wallets until the moment of payment execution and conversion.
Application developers gain stablecoin payout capabilities without complex multi-chain infrastructure.
Future updates will enable users to receive stablecoins from external blockchain networks.
Breez has introduced a novel payment mechanism that allows Bitcoin holders to transmit USDC or USDT without maintaining stablecoin balances. The technology operates through the company’s software development kit and facilitates transactions across more than 30 blockchain ecosystems. This innovation provides applications with a streamlined method to integrate stablecoin payment options without requiring users to pre-fund stablecoin wallets.
Bitcoin-to-USDC Payment Capability Now Available Through Breez SDK The payment functionality has been integrated directly into Breez’s software development kit, which application developers utilize to incorporate Lightning Network payment capabilities. The architecture allows users to initiate transactions from Bitcoin holdings while delivering value to USDC-enabled recipients. Users benefit from eliminating the requirement to maintain separate USDC reserves prior to transaction execution.
The system performs recipient address verification and blockchain identification before transaction approval. It provides senders with complete visibility into routing paths, associated fees, payment amounts, and destination networks. Upon user confirmation, designated liquidity providers execute Bitcoin-to-USDC conversion and complete delivery to the intended recipient.
The solution leverages Lightning Network infrastructure alongside Breez’s proprietary Spark Layer 2 protocol for rapid settlement processing. Breez collaborates with industry partners such as Flashnet and Boltz to facilitate conversion operations and payment delivery. This approach allows developers to offer USDC payment functionality without constructing independent blockchain integration systems.
USDT Payment Functionality Extended Across Multiple Blockchain Networks The platform additionally facilitates USDT transmission from Bitcoin balances using identical payment workflows. Users maintain Bitcoin exposure until payment initiation, while recipients receive USDT in their designated wallets. This architecture eliminates the burden of stablecoin wallet management prior to fund transmission.
Current functionality focuses exclusively on outbound stablecoin payments, based on the company’s deployment roadmap. Breez has announced intentions to incorporate stablecoin receiving capabilities from external blockchain networks in subsequent releases. This enhancement could transform the SDK into a comprehensive multi-asset payment infrastructure layer.
USDT maintains significant relevance in global remittance channels due to widespread preference for dollar-denominated transactions. Regional variations in blockchain adoption stem from differences in transaction costs and exchange accessibility. Breez’s support for 30 distinct chains provides developers with enhanced flexibility to serve diverse geographic markets.
Enhanced Functionality for Bitcoin Payment Ecosystem This release expands stablecoin capabilities within Bitcoin payment infrastructure and Lightning Network-enabled applications. Breez currently provides services to over 75 applications via its SDK, including notable platforms like Deblock and Cake Wallet. This established distribution network provides the new payment feature with immediate accessibility across wallet and payment product ecosystems.
Breez secured $4.5 million in funding during December 2022 from investment firms including Fulgur Ventures and Ego Death Capital. Following this capital raise, the company has concentrated development efforts on Lightning Network tools for wallet applications, social platforms, and payment infrastructure. The latest product release advances this strategic direction into stablecoin delivery and remittance applications.
The broader Bitcoin payment sector has evolved beyond small-scale retail transaction processing. During February, Secure Digital Markets successfully executed a $1 million Lightning Network payment to Kraken exchange in less than half a second. Voltage launched a dollar-denominated credit facility integrated with Lightning payment infrastructure.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
BNY will let institutional clients custody, mint and redeem Circle's USDC through its digital asset platform.The bank plans to expand the service to additional stablecoin issuers over time.The move reflects growing demand from traditional financial institutions for regulated stablecoin infrastructure.BNY, the world's largest custody bank overseeing $59 trillion in assets, is deepening its ties with Circle (CRCL) as the Wall Street bank ramps up its stablecoin services.
The bank said Monday that USDC will become the first stablecoin supported on its Digital Asset Custody platform. Clients will be able to hold USDC in custody at BNY and instruct Circle to convert U.S. dollars into the stablecoin or redeem USDC back into dollars through the bank.
The move expands BNY's role in the USDC ecosystem. The bank already serves as the primary custodian of the reserves backing the stablecoin. The new offering lets institutions manage both their cash and digital assets through a single platform.
BNY said it plans to support additional stablecoin issuers over time.
The announcement comes as stablecoins gain momentum among banks and asset managers following the 2025 passage of the GENIUS Act, the U.S. law establishing a federal framework for U.S. dollar-backed stablecoins. The legislation is widely expected to accelerate institutional adoption by setting rules for reserve assets, disclosures and issuer oversight.
Unlike cryptocurrencies such as bitcoin, stablecoins are designed to maintain a fixed price pegged to a fiat currency, typically to the U.S. dollar and backed with cash and short-term U.S. Treasuries. Originally used primarily by crypto traders on exchanges, they are increasingly finding broader uses in payments, cross-border transfers and securities settlement.
Institutions see significant room for growth. Standard Chartered projected the stablecoin market could expand from roughly $300 billion today to $2 trillion by the end of 2028, while Citigroup estimated it could reach $4 trillion by 2030 in its base case. Circle's USDC is the second-largest stablecoin with a market capitalization of over $73 billion.
"As digital assets become increasingly integrated into financial markets, institutions need infrastructure that seamlessly works across traditional and blockchain-based systems," said Carolyn Weinberg, chief product and innovation officer at BNY.
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The Evolution of the Crypto CEX Landscape: A Case Study on Binance
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
5 hours ago
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
America's oldest bank will allow institutional clients to store, mint, redeem, and transfer USDC.
The Bank of New York Mellon (BNY), the oldest bank in the United States, has expanded its partnership with Circle to introduce new stablecoin services for institutional clients.
Circle’s USDC will become the first stablecoin supported on BNY’s Digital Asset Custody platform under the arrangement. This will allow BNY clients to store, transfer, mint, and burn USDC through the bank’s custody services.
BNY Mellon integrates USDC According to the official blog post, the latest move broadens BNY’s role as the primary custodian of USDC reserves. Institutional clients using BNY’s digital asset custody platform can now hold USDC in their custody wallets and use the bank to instruct Circle to convert US dollars into USDC.
Clients will also be able to redeem USDC for US dollars through the burning process. Circle said that these services are intended to support the entire lifecycle of institutional stablecoin activity by connecting traditional cash services with digital asset custody within one framework. BNY said the stablecoin capabilities are part of its integrated Digital Assets platform, which is designed to help institutional clients manage the growing connection between traditional finance and digital assets.
By combining custody and cash management services, the bank aims to provide access to blockchain-based networks while maintaining the controls, governance, and operational resilience required by institutional markets. BNY also plans to expand support to other stablecoin issuers and additional digital cash workflows over time.
BNY’s Chief Product and Innovation Officer Carolyn Weinberg commented,
“As digital assets become increasingly integrated into financial markets, institutions need infrastructure that seamlessly works across traditional and blockchain-based systems. With the addition of our enhanced stablecoin enablement capabilities, we’re expanding the ways clients can move value with the operational scale, trust, and resiliency they expect from BNY.”
BNY’s Crypto Footprint BNY Mellon and Circle first partnered in March 2022, when the bank was selected as a primary custodian for the reserves backing the stablecoin. Since then, the bank has steadily strengthened its presence in digital assets over the past few years.
You may also like: Tim Draper Explains Why Bitcoin Is Safer Than Banks in the Quantum Era Peter Schiff Blasts Jamie Dimon’s Push for Bank-Style Rules on Stablecoins Banks Fear Stablecoins as Yield Threatens Deposit Business: Report This year, the Wall Street giant expanded its digital asset custody business by partnering with Finstreet and ADI Foundation to develop regulated crypto infrastructure within Abu Dhabi’s ADGM financial hub.
We’re excited to announce that USDC, EURC, and CCTP support are live on Cronos.
Cronos Network is a high-performance, EVM-compatible, Layer-1 (L1) blockchain network supported by Crypto.com, supporting payments, AI-native workflows, and DeFi trading. Native USDC, EURC, and CCTP bring trusted and interoperable stablecoin infrastructure to Cronos’ large and established ecosystem. USDC will also serve as the settlement layer for the Cronos app, the upcoming mobile-first trading platform where users will be able to trade tokenized stocks, crypto, and prediction markets from a single account, with 24/7 markets, and access in 180+ countries.1
With the launch of native USDC, EURC, and CCTP, Cronos gains access to the leading regulated2 dollar and euro stablecoins. This unlocks dollar- and euro-denominated DeFi trading, payments, treasury management, and more on a blockchain designed for EVM compatibility, AI-friendly workflows, and transaction efficiency. Native USDC will also serve as the dollar settlement layer for the Cronos app. Users will be able to deposit dollars and trade every asset class from one account.
Benefits of USDC and EURC on Cronos:
Regulated,2 fully reserved stablecoins redeemable 1:1 for USD and EUR,3 respectivelyInstitutional on/offramps with Circle Mint4 for qualified businesses Integrate easily with apps and protocols on CronosUnlock dollar- and euro-denominated DeFi markets and AI-powered transactionsCCTP on Cronos enables developers to:
Securely and efficiently move USDC between Cronos and other supported blockchainsBuild apps directly on the protocol layer that support high-performance DeFi and AI-powered transactionsKey use cases of USDC and EURC on CronosNative USDC and EURC can help establish a trusted dollar- and euro-denominated ecosystem on Cronos. With MiCA compliance, full reserve backing, and 1:1 redeemability for dollars and euros respectively, USDC and EURC support DeFi, traditional markets, and agent-to-agent transactions by serving as collateral and settlement infrastructure. Establishing deep liquidity for both EUR/EURC and USD/USDC trading pairs can support lower-slippage DeFi activity and AI-driven applications at the scale institutions and enterprises need. Through CCTP, users and developers can move USDC securely across ecosystems without relying on wrapped assets.
Beyond institutional use cases, native USDC will also bring dollar settlement to everyday users. As the dollar layer for the Cronos app, the upcoming mobile-first trading platform, USDC will let people deposit dollars and trade tokenized stocks, crypto, and prediction markets from a single account.
Together, native USDC, EURC, and CCTP can give businesses and developers on Cronos access to regulated2 fiat rails for institutional-grade trading, programmable payments, and compliant onchain settlement. While USDC is widely used around the world, euro-denominated EURC may be especially well suited for payments, settlement, and other onchain activity within the EU, where 1:1 euro redeemability and MiCA compliance can help support trusted euro-denominated use cases.
Popular Cronos apps include: Crypto.com, LI.FI, Relay, VVS, Wolfswap.
Bridged vs native USDC on CronosCronos also supports bridged USDC (i.e., USDC.e), a non-native version of USDC. The Cronos team plans to work with ecosystem apps and protocols to smoothly migrate bridged USDC liquidity to native USDC over time.
This gives Cronos the same native stablecoin features that are already available on other supported chains. There is no immediate impact to existing bridges and they will continue to operate normally. Bridged USDC will remain clearly labeled as “USDC.e” in block explorers, app interfaces, and documentation.
Get started todayBusinesses can access institutional on/offramps to convert to Circle stablecoins on Cronos by applying for a Circle Mint4 account. Individuals and smaller institutions can access USDC and EURC through various exchanges, wallets, and providers. Visit circle.com/eurc and circle.com/usdc to learn more.
Get started today with our developer docs for USDC, EURC, and CCTP. Both USDC and EURC are open-source, permissionless stablecoin protocols that anyone can build with.
1 Products may be subject to jurisdictional availability
2 USDC is issued by regulated affiliates of Circle. EURC is issued by Circle Internet Financial Europe SAS. A list of Circle’s regulatory authorizations can be found here.
3 Circle Mint customers are able to redeem USDC and EURC directly from Circle. In addition, Circle will redeem all USDC and EURC presented to it for redemption in compliance with MiCAR, regardless of whether the holder is a Circle Mint customer. Circle Mint is currently available only to institutions and is not available to individuals.
4 Circle Mint and money transmission services are provided by Circle Internet Financial, LLC, NMLS # 1201441, and Circle Internet Financial Europe SAS, Electronic Money Institution License No. 17788, when provided in France.
In the realm of cryptocurrencies, Cronos has made a significant move: integrating native USDC and EURC along with its Cross-Chain Transfer Protocol (CCTP). According to Circle’s announcement, this milestone was achieved on June 18, 2026. It’s not just a tech update; it’s a pivot that could redefine Cronos as a major player in decentralized finance and blockchain payment systems.
This news from Cronos and Circle marks the first time native stablecoins USDC and EURC, alongside CCTP, have been integrated on the same blockchain simultaneously. Cronos aims to be the settlement layer for the Cronos App—a mobile-first platform targeted at facilitating trading in tokenized stocks and digital assets.
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What this means for Cronos Native USDC and EURC allow for 1:1 redemption and full reserve backing, compliant with MiCA regulations. The contracts—USDC at 0x3D7F2C478aAfdB65542BCB44bCeeC05849999d2D and EURC at 0xA6dE01a2d62C6B5f3525d768f34d276652C554c8—are now live. Developers currently have access to testnet versions via Circle’s faucet, with mainnet deployment expected soon, although no specific date has been set.
A strategic chess move The integration is backed by Crypto.com’s Cronos L1, which has over 150 million users. By reducing reliance on third-party bridge technologies, the network aims to mitigate risks and increase efficiency. A planned migration from bridged USDC.e to native USDC is underway, with existing bridged tokens not expected to be impacted immediately.
The wider landscape for investors Circle’s involvement, given its reputation as a regulated issuer, adds legitimacy to the integration. The launch of native USDC and EURC provides more secure and compliant options compared to bridged solutions previously used in DeFi. As liquidity increases, transaction volumes on the Cronos network are expected to rise, potentially creating more robust DeFi ecosystem opportunities.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SK Group Chairman Choi Tae-won: Even if SK Hynix speeds up its factory construction, memory shortages will persist. (Jinshi)
8 minutes ago
Former meme stock 'BB' (BlackBerry) rallied 270% in March, with one trader netting a 318% return by taking a long position.
According to Hyperinsight’s monitoring, BlackBerry (BB) has continued to attract capital inflows, rising 40% cumulatively over the past seven days and 270% since its early April low. On Hyperliquid, BB is currently priced at $11.6, up 3.4% intraday. A trader with the wallet address starting with 0xa5fd has maintained a 10x long position on BB’s contract since the first day it was listed on trade.xyz (32 days ago). The trader allocated $58,000 to build the position, which now has an unrealized profit of $186,000, representing a return of approximately 318%. The average entry price was $8.8, with the position size totaling $770,000. Additional notes: In recent years, BlackBerry has completed its transition to a software-centric business, with its core product—the QNX real-time operating system—widely applied in smart vehicles, autonomous driving, robotics and other fields. The recent sharp rally in its stock is mainly driven by factors including the market’s revaluation of its Physical AI concept, sustained growth of the QNX business, better-than-expected Q1 results, and an upward revision to its full-year earnings guidance. BlackBerry was once a global leader in business smartphones. After its mobile phone business declined, it gained renewed attention during the 2021 U.S. retail investor vs. Wall Street meme stock craze. There remains market division over this latest rally: some hold that its improving fundamentals provide support, while others view it as a resurgence of meme stock momentum.
8 minutes ago
ANSEM surged nearly 600-fold in three days, with 12 addresses accumulating positions worth nearly $2 million in the past 24 hours.
According to on-chain analyst Ai Yi (X handle @ai_9684xtpa), Solana meme coin ANSEM has surged nearly 600 times in the three days since its launch, with its market capitalization quickly exceeding $100 million. Over the past 24 hours, a total of 12 addresses have cumulatively invested $1.985 million to establish new positions in ANSEM (only counting addresses with single buy transactions of over $100,000), further pushing up the token's price.
8 minutes ago
South Korea unveils a massive semiconductor and AI investment plan: it plans to invest 800 trillion won to build four chip plants and double its DRAM production capacity within five years.
The South Korean government today unveiled its latest industrial plan, with President Lee Jae-myung stating that South Korea must promptly advance the construction of chip production facilities, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and aims to invest at least 30 trillion won in semiconductor fields including next-generation memory, edge AI, and defense over the next 15 years. Additionally, the chip packaging cluster in the Chungcheong region is projected to receive an investment of 81 trillion won, AI data center construction is expected to draw around 550 trillion won, new industrial projects in the southwestern region will see investments ranging from 5 trillion to 20 trillion won, and the overall project scale in Gwangju and Jeolla regions could reach up to 520 trillion won. The South Korean government also stated its goal of doubling DRAM production capacity within the next five years and increasing South Korea’s share of the global humanoid robot market. Officials project that the global memory chip market will grow approximately fourfold over the next five years. In reaction to the news, the Korea Composite Stock Price Index (KOSPI) turned from negative to positive in the afternoon, after falling more than 3% at one point during the session.
8 minutes ago
The A-share semiconductor equipment sector strengthened in the afternoon session, with multiple stocks rising sharply.
China's A-share semiconductor equipment sector rallied again in the afternoon. As of press time, Huahai Qingke and Jingyi Equipment surged more than 11%, Jinhaitong and Huaya Smart had earlier hit their daily limit, while stocks such as Huafeng Measurement & Control and Core Source Micro rose in tandem. (Jinshi)
8 minutes ago
Serenity: The decade from 2020 to 2030 may be the fastest period of technological progress in human history.
Serenity stated in a report that the decade from 2020 to 2030 is poised to be the fastest period of technological advancement in human history. Reusable rockets are driving rapid development of orbital computing infrastructure, with firms like Rocket Lab and SpaceX continuously enhancing their launch capabilities; Anthropic and OpenAI are advancing artificial intelligence (AI) toward general artificial intelligence (AGI) and even more advanced stages. Humanoid robots from companies including Boston Dynamics and Unitree are making steady progress, and are expected to gradually replace some labor tasks. Additionally, high-energy laser technology is expanding from the defense sector to AI data centers, autonomous driving technologies from Waymo and Tesla continue to be deployed commercially, and quantum computing is also expected to achieve breakthroughs by the end of this decade. Multiple cutting-edge technologies are advancing toward industrialization in parallel, making the current period a highly historically significant investment cycle.
SK Group Chairman Choi Tae-won: Even if SK Hynix speeds up its factory construction, memory shortages will persist. (Jinshi)
8 minutes ago
Former meme stock 'BB' (BlackBerry) rallied 270% in March, with one trader netting a 318% return by taking a long position.
According to Hyperinsight’s monitoring, BlackBerry (BB) has continued to attract capital inflows, rising 40% cumulatively over the past seven days and 270% since its early April low. On Hyperliquid, BB is currently priced at $11.6, up 3.4% intraday. A trader with the wallet address starting with 0xa5fd has maintained a 10x long position on BB’s contract since the first day it was listed on trade.xyz (32 days ago). The trader allocated $58,000 to build the position, which now has an unrealized profit of $186,000, representing a return of approximately 318%. The average entry price was $8.8, with the position size totaling $770,000. Additional notes: In recent years, BlackBerry has completed its transition to a software-centric business, with its core product—the QNX real-time operating system—widely applied in smart vehicles, autonomous driving, robotics and other fields. The recent sharp rally in its stock is mainly driven by factors including the market’s revaluation of its Physical AI concept, sustained growth of the QNX business, better-than-expected Q1 results, and an upward revision to its full-year earnings guidance. BlackBerry was once a global leader in business smartphones. After its mobile phone business declined, it gained renewed attention during the 2021 U.S. retail investor vs. Wall Street meme stock craze. There remains market division over this latest rally: some hold that its improving fundamentals provide support, while others view it as a resurgence of meme stock momentum.
8 minutes ago
ANSEM surged nearly 600-fold in three days, with 12 addresses accumulating positions worth nearly $2 million in the past 24 hours.
According to on-chain analyst Ai Yi (X handle @ai_9684xtpa), Solana meme coin ANSEM has surged nearly 600 times in the three days since its launch, with its market capitalization quickly exceeding $100 million. Over the past 24 hours, a total of 12 addresses have cumulatively invested $1.985 million to establish new positions in ANSEM (only counting addresses with single buy transactions of over $100,000), further pushing up the token's price.
8 minutes ago
South Korea unveils a massive semiconductor and AI investment plan: it plans to invest 800 trillion won to build four chip plants and double its DRAM production capacity within five years.
The South Korean government today unveiled its latest industrial plan, with President Lee Jae-myung stating that South Korea must promptly advance the construction of chip production facilities, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and aims to invest at least 30 trillion won in semiconductor fields including next-generation memory, edge AI, and defense over the next 15 years. Additionally, the chip packaging cluster in the Chungcheong region is projected to receive an investment of 81 trillion won, AI data center construction is expected to draw around 550 trillion won, new industrial projects in the southwestern region will see investments ranging from 5 trillion to 20 trillion won, and the overall project scale in Gwangju and Jeolla regions could reach up to 520 trillion won. The South Korean government also stated its goal of doubling DRAM production capacity within the next five years and increasing South Korea’s share of the global humanoid robot market. Officials project that the global memory chip market will grow approximately fourfold over the next five years. In reaction to the news, the Korea Composite Stock Price Index (KOSPI) turned from negative to positive in the afternoon, after falling more than 3% at one point during the session.
8 minutes ago
The A-share semiconductor equipment sector strengthened in the afternoon session, with multiple stocks rising sharply.
China's A-share semiconductor equipment sector rallied again in the afternoon. As of press time, Huahai Qingke and Jingyi Equipment surged more than 11%, Jinhaitong and Huaya Smart had earlier hit their daily limit, while stocks such as Huafeng Measurement & Control and Core Source Micro rose in tandem. (Jinshi)
8 minutes ago
Serenity: The decade from 2020 to 2030 may be the fastest period of technological progress in human history.
Serenity stated in a report that the decade from 2020 to 2030 is poised to be the fastest period of technological advancement in human history. Reusable rockets are driving rapid development of orbital computing infrastructure, with firms like Rocket Lab and SpaceX continuously enhancing their launch capabilities; Anthropic and OpenAI are advancing artificial intelligence (AI) toward general artificial intelligence (AGI) and even more advanced stages. Humanoid robots from companies including Boston Dynamics and Unitree are making steady progress, and are expected to gradually replace some labor tasks. Additionally, high-energy laser technology is expanding from the defense sector to AI data centers, autonomous driving technologies from Waymo and Tesla continue to be deployed commercially, and quantum computing is also expected to achieve breakthroughs by the end of this decade. Multiple cutting-edge technologies are advancing toward industrialization in parallel, making the current period a highly historically significant investment cycle.
Predict.fun’s first World Cup knockout match: Canada vs South Africa, with Canada holding a 58% win probability.
Data from prediction market platform Predict.fun indicates that the first knockout match of the 2026 Canada-Mexico-USA World Cup’s 32-team knockout stage is approaching. The clash between Canada and South Africa will kick off at 3 a.m. Beijing time today. Current predicted win probabilities stand at 58% for Canada (CAN), 16% for South Africa (RSA), and a 27% chance of a draw. The data shows that the market has given higher support to the Canadian national team’s overall strength ahead of the match.
4 hours ago
Predict.fun Launches World Cup 32-Team Knockout Stage Event, Remaining Prize Pool Exceeds $1.1 Million
According to an official announcement from Predict.fun, the knockout stage of the World Cup’s 32-team tournament has officially launched, with the platform simultaneously upgrading its Predict Cup event mechanism. For this knockout round, Predict.fun will open 11 prediction markets per match and boost Fan Points rewards. The official added that the ongoing event still has a prize pool of over $1.1 million up for grabs, with rewards disbursed immediately after each knockout match’s conclusion. Notably, the Canada vs. South Africa match is set to kick off in under 3 hours, with a direct $25,000 reward allocated for this fixture, giving users more frequent chances to participate and win. Predict.fun stated that as the knockout stage commences, the platform will incentivize users to actively join World Cup prediction markets and compete for subsequent prize pool rewards via more markets, higher point rewards, and a more frequent reward distribution system.
4 hours ago
Predict.fun World Cup Group Stage $840,000 Event Rewards Now Available for Claiming
According to official announcements from Predict.fun, rewards for the World Cup group stage event are now available for collection, with the current prize pool totaling $840,000. The platform noted that users who participated and secured rewards during the group stage can now claim them via the platform. With the conclusion of the 32-team group stage, the number of World Cup-related markets on Predict.fun has risen from the initial 6 to 11, providing more trading and points-chasing opportunities for new participants. For the upcoming knockout stage, the platform will release over $1 million in additional event rewards, giving users ongoing opportunities to compete for leaderboard positions and split the subsequent prize pool.
4 hours ago
South Korean investors' borrowings for stock trading hit an all-time high, with record leverage exacerbating volatility in South Korean equities.
South Korean investors’ margin lending for stock trading hits an all-time high: South Korea’s margin loans have reached a record of approximately $26 billion, doubling since the start of 2025. However, when measured as a share of South Korea’s free-float market capitalization, margin lending currently makes up only around 0.8% — the lowest level since the 2020 pandemic low. This is because the sharp rise in South Korea’s total stock market capitalization has far outpaced the growth of leverage. Meanwhile, during the recent market correction, the daily forced liquidation ratio surged to 4-5% of total outstanding margin loans, far exceeding the normal level of roughly 1%. This means that leveraged investors unable to meet margin call requirements are forcing brokers to liquidate 4-5% of all margin positions in a single day. Record leverage is exacerbating volatility in the South Korean market.
4 hours ago
Samson Mow asserts that Bitcoin has reached its bottom, as analysts’ views on the market outlook have grown increasingly divergent.
Jan3 CEO Samson Mow today asserted that Bitcoin has reached its bottom. His core argument is that Bitcoin hit its then all-time high 37 days before the April 2024 halving, an anomaly indicating the traditional four-year halving cycle has accelerated, rendering historically reliable timing patterns no longer applicable. “Even if you believe in the cycle, you should conclude that it has accelerated.” However, the market is far from reaching a consensus: Markus Thielen, founder of 10x Research, believes the bottom is more likely at $55,000, with a time window between August and October; BitMex co-founder Arthur Hayes is more bearish, predicting Bitcoin will hit roughly $40,000 within six months; senior analyst James Van Straten notes that Bitcoin is currently testing its 200-week moving average, with on-chain data suggesting the $50,000–$54,000 range could be the next key battleground. Since 2011, every major Bitcoin bear market has only confirmed its cycle bottom after falling below its realized price, and this signal has not yet emerged in the current cycle.
4 hours ago
Galaxy CEO: MicroStrategy has evolved into a key confidence signal for the overall Bitcoin market, with $59,000 serving as a critical support level.
Galaxy Digital CEO Mike Novogratz stated that the core reason for Bitcoin’s recent decline is a "confidence collapse triggered by Strategy". The issue extends beyond Bitcoin’s price itself: concerns over Strategy’s financing model are spreading across the market. As the world’s largest public corporate holder of Bitcoin, Strategy’s stocks and senior securities have become key metrics for traders to gauge Bitcoin market risk. Earlier, the company’s Bitcoin flywheel effect came under pressure, with its stock once trading below the value of its Bitcoin holdings—meaning its years-long reliance on the "issuing stock at a premium to raise funds for Bitcoin purchases" model is now facing challenges. Novogratz bluntly noted that STRC (Strategy’s ticker) is trading weakly, and it should have held steady around $100. Currently, Strategy’s annual dividend obligations have risen to roughly $1.2 billion, and shrinking cash reserves have cut the dividend coverage period to just about 14 months. On the macro front, Bitcoin also faces pressure. Novogratz summed up the current market logic as "a strong dollar means a weak Bitcoin": hawkish central bank signals and a strengthening US dollar are suppressing demand for risk assets. Technically, the $59,000 to $60,000 range has become a critical support level for Bitcoin; a break below could open downside space to $45,000. Novogratz also admitted the current situation is complex, with an equal 50/50 probability of a rebound or deep correction. ETF outflows, weak liquidity, and cautious positioning in the options market further confirm the market’s fragile sentiment. Today, Strategy’s balance sheet health, STRC’s price performance, and cash position are no longer just company-level issues—they have evolved into a confidence signal for the entire Bitcoin market.
TLDR:Hyper Foundation Unveils $10M USDH Migration Grant ProgramUSDH Holders Receive Migration Options as Ecosystem Shifts to USDC Hyper Foundation committed about $10 million to support USDH migration across affected ecosystem projects. Eligible builders must complete migration or orderly shutdown activities before the end of July deadline. USDH holders can swap tokens for USDC through supported HyperCore and HyperEVM migration pathways. Grant allocations depend on deployment costs or affected USDH total value locked across supported protocols. Hyper Foundation has introduced a grant program worth approximately $10 million to support projects affected by the USDH sunset. The initiative targets builders migrating away from the stablecoin or winding down USDH-dependent services before the end of July.
Eligible teams have already been contacted as the network moves through an organized transition process. The funding aims to reduce migration costs while helping maintain continuity across the Hyper ecosystem.
Hyper Foundation said the grants will support builders whose products relied on USDH before its retirement. According to the foundation, eligible recipients include HIP-1 spot deployers, HIP-3 perpetual deployers, HyperEVM protocols, dedicated USDH: USDC bridge operators, and Native Markets.
The grants fall into two categories. Migration grants support teams replacing USDH with USDC, while wind-down grants assist projects ending USDH-related operations. The foundation noted that wind-down grants remain smaller than equivalent migration awards.
According to Hyper Foundation, every recipient has committed to completing migration or orderly shutdown activities before the end of July. The program seeks to minimize disruption while encouraging structured transitions across supported applications.
Grant calculations also differ between ecosystem participants. HIP-1 and HIP-3 recipients receive allocations based on auction deployment costs, while HyperEVM protocol grants depend on the amount of USDH total value locked affected by the sunset.
USDH Holders Receive Migration Options as Ecosystem Shifts to USDC Hyper Foundation also outlined the migration process for users holding USDH. The organization encouraged users to follow instructions directly from the protocols where their assets remain deployed.
Users can exchange USDH for USDC through the HyperCore spot order book. The foundation also confirmed that HyperEVM users can swap USDH for USDC at a one-to-one ratio through Across without paying transaction fees.
Hyper Foundation Allocates $10M in Grants to Support USDH Migration
Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs. Grants will be distributed to eligible HIP-1 and HIP-3… pic.twitter.com/Hwy7ZNwswz
— Wu Blockchain (@WuBlockchain) June 28, 2026
Wu Blockchain highlighted the announcement shortly after the grant program became public. The report noted that the funding package covers both migration expenses and wind-down costs for affected ecosystem participants.
Hyper Foundation also acknowledged the contribution of builders, users, and Native Markets throughout the USDH rollout. The organization credited community participation and direct coordination with helping the migration process progress smoothly during the transition period.
Tokenized Stocks Aim to Unlock Global Equity Access“There’s actually about four billion people in the world today who are unbrokered,” Armstrong said in an episode of Sourcery with Molly O’Shea that aired on Saturday. “Half the planet basically can’t get access to any high-quality U.S. companies to invest in. They’re stuck holding cash and lower-quality investments.”
“That’s going to totally change the world,” Armstrong said of the shift to tokenized equities on modern financial rails.
Armstrong pointed to the pending Clarity Act, which he described as "right on the horizon," as the next crypto bill expected to speed up adoption of tokenized equities, similar to how the Genius Act supported stablecoins.
“If you survey Americans, something like 83% of them say that the financial system is not currently working for them,” Armstrong said, highlighting that the access issue extends beyond emerging markets.
Recent market data also supports Armstrong’s point, indicating tokenized stock trading volumes have reached record levels, signaling growing institutional and retail interest in blockchain-based equity exposure.
Photo Courtesy: Shutterstock By Thrive Studios ID
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Circle Stock is Facing Major Risks as USDC Supply DipsCRCL, which operates USD Coin (CRYPTO: USDC) and EURC, is confronting several major risks as the crypto winter continues.
A key risk is that the supply of USDC has continued to drop this month, which will hurt its revenue growth. CoinMarketCap data shows that the market capitalization of USDC has dropped to $73.7 billion from the year-to-date high of $80 billion. Similarly, EURC’s valuation has dropped to $426 million from the year-to-date high of $467 million.
At the same time, US bond yields have continued falling recently as crude oil prices fall after the reopening of the Strait of Hormuz. Brent and the West Texas Intermediate have fallen to $72.6 and $69, respectively. As a result, the two-year yield has dropped to 4.09% from the year-to-date high of 4.235%.
A combination of falling stablecoin supply and US bond yields is that its revenue growth will deteriorate in the near term. That’s because Circle’s business model involves investing its stablecoin reserves in short-term government bonds. Its revenue does well when these reserves and short-term bond yields are in an uptrend.
Analysts expect that Circle’s business will remain under pressure in the near term. The expectation is that its annual revenue will jump by 11% this year to $3.07 billion. Its annual revenue jumped by over 60% last year as its USDC assets jumped.
Circle Internet Group Stock Has Formed a Double-Top PatternCRCL is also facing some technical risks, which may drive it lower in the near term. It formed a double-top pattern at $135.70, its highest point in March and May this year. It has now dropped below the neckline of $84, its lowest point on April 9.
The stock has slumped below the 50-day moving average, while the two lines of the MACD indicator have continued falling. Therefore, the stock will likely continue falling, initially to the all-time low of $49. This view is in line with the recent CRCL stock downgrade by Mizuho, who lowered their target to $85.
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1024EX, an on-chain crypto trading platform, has announced support for $USDC deposits on two more networks. 1024EX now supports $USDC deposits on Ethereum and Base blockchain networks. As per 1024EX’s official social media announcement, these deposits are live now. Moreover, $USDC withdrawals on Base, Solana, and Ethereum are already live. The update highlights 1024EX’s plan to make stablecoin transfers less fragmented and more rapid.
1024EX now supports USDC deposits via Base and Ethereum.
Withdrawals are available via Base, Ethereum, and Solana.
Coming soon: TRON support.
More chains. Smoother deposits. Easier withdrawals.
— 1024EX (@1024EX) June 27, 2026 Supporting USDC deposits on Ethereum and Base is highly important for any crypto platform and its users. It improves user experience, boosts platform competitiveness, and supports broader stablecoin adoption.
How USDC Deposits on Base and Ethereum Can Improve User Experience The launch of the $USDC deposits on Base and Ethereum permits 1024EX to improve the user experience. Base enables fast finality as well as low-fee transactions. At the same time, Ethereum provides comprehensive liquidity as well as wide wallet compatibility. Keeping this in view, the rollout provides traders with two additional ways for account funding via $USDC without depending on a single blockchain. Additionally, the $USDC deposit support minimizes congestion risk when it comes to increased network activity.
Coming to withdrawals, 1024EX users are permitted to withdraw capital via Solana, Base, and Ethereum. Withdrawals support on Solana is of great importance because Solana delivers a high-throughput option for minimal fees and sub-second settlement. This benefits consumers who look for funds transfers to other platforms, DeFi protocols, or wallets quickly.
1024EX Targets TRON as Next Integration for Wider Access In addition to this, the platform has also unveiled plans to support the TRON network to further facilitate its users. The potential inclusion of TRON would broaden 1024EX’s access to consumers who focus on minimal network fees in the case of $USDC transactions. Ultimately, this development gives consumers more control over $USDC withdrawals and deposits.
To sum up, 1024EX considers this 3-chain withdrawal framework as a key move to let consumers pick ecosystem compatibility, cost, or speed in line with their individual requirements.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Michael Saylor issued a statement noting that Bitcoin is operating normally, and so are we (Strategy).
2 minutes ago
A renowned Chinese hedge fund manager has warned that global AI stocks have formed a "super bubble".
Two renowned Chinese hedge fund managers have warned that global AI stocks have formed a "super bubble" and are on the verge of bursting. Yang Dong, founder of Ningquan Asset, explicitly warned in the "2026 Semi-Annual Investment Report" released on June 23 that a "super bubble" has formed in global AI stocks, and a crash may be imminent. The report bluntly stated that a large number of hot A-share stocks are very likely to drop by 80% or even over 90% in the future, adding that "if one lacks the ability to pull chestnuts out of the fire and emerge unscathed, taking such risks would be irresponsible to investors." Yang Dong accurately predicted the peak of the 2007 bull market. Separately, Li Bei, founder of Shanghai-based Banxia Investment, noted in her June 21 monthly report "To Banxia Investors" that "the triggering conditions for the AI bubble to burst have emerged." Taking Anthropic's ARR (Annualized Run Rate) as an example, she argued that revenue growth at downstream model companies has slowed significantly, their full-year results are likely to fall well short of market expectations, and a subsequent decline in capital expenditure is highly probable.
2 minutes ago
An address linked to Vitalik has transferred 7,000 ETH, and is likely to deposit the funds into a centralized exchange (CEX).
According to monitoring by Onchain Lens, a wallet linked to Vitalik, labeled "0xD04", transferred 7,000 ETH (valued at $11.06 million) to a new wallet. Based on the address’s historical transaction records, the ETH is highly likely to be deposited into a centralized exchange (CEX). Earlier, the same wallet transferred 1,300 ETH (worth $31.6 million), which was subsequently deposited into Paxos. The wallet currently holds 20,001 ETH, valued at $31.6 million.
2 minutes ago
Hong Kong government: Regulated stablecoins are expected to launch between mid-year and the second half of this year.
Hong Kong’s government stated in a written response to the Legislative Council that the Hong Kong Monetary Authority (HKMA) granted stablecoin issuer licenses to two bank-backed institutions in April 2026. Per the institutions’ existing business plans, Hong Kong’s regulated stablecoins are projected to launch between mid-year and the second half of this year. The government added that the HKMA has sent notices to unregulated entities conducting stablecoin issuance in the market to clarify legal requirements, and will continue to follow up on related matters; individual cases may be referred to the police or the Department of Justice if necessary. Additionally, the government will submit a bill to the Legislative Council this year to establish a regulatory regime for virtual asset trading, custody, advisory and management service providers.
2 minutes ago
The Israeli military will reduce its forces stationed in southern Lebanon.
According to Israel's Army Radio, the Israeli military will reduce its forces stationed in southern Lebanon and withdraw several combat brigades.
2 minutes ago
Serenity's trade calls push CBRS to a short-term sharp rally, with a significant premium over post-market prices on TradFi platforms.
Serenity's bullish calls drive Cerebras' short-term sharp surge. As of press time, the stock contract is trading at $188.26 on trade.xyz, up over 5% in the past hour. Meanwhile, the stock's after-hours price (markets are now closed) stands at just $182.3. Earlier reports noted that Serenity said it first bought Cerebras stock in the $170 range, citing a valuation premium from its OpenAI partnership, though it pointed out the current valuation is slightly higher than profitable firms like JBL, while remaining bullish on Cerebras' potential as an AI inference leader.
PANews, June 27 news, according to official data, in the 7 days up to June 25, Circle issued about 6 billion USDC, redeemed about 7.1 billion USDC, and the circulating supply decreased by about 1.1 billion tokens. USDC's total circulating supply is 73.6 billion tokens, with reserves of approximately $73.9 billion, including about $52.2 billion in overnight reverse repurchase agreements on government bonds; about $10 billion in Treasury securities with maturities less than 3 months; about $11 billion in deposits at systemically important institutions; and about $0.7 billion in other bank deposits.
Polymarket said it successfully contained a security breach after discovering a third-party vendor had been compromised on Thursday morning.
Polymarket Refunding ‘Users In Full’Polymarket Traders, an X handle with an official Polymarket Traders badge, first disclosed that the breach injected a “malicious script” into the frontend for some users.
“We’ve contained it & removed the affected dependency. We’re contacting impacted users & refunding them in full,” Polymarket Traders said.
Polymarket’s Growth Lead, William LeGate, confirmed the hack and the refund process. Benzinga reached out to Polymarket for more details on the breach.
On-Chain Sleuths Point To Millions In TheftBlockchain analytics platform Bubblemaps said that the attacker drained nearly $3 million from under 15 wallets, although the damage has been “largely contained.”
“Great response by Polymarket,” the on-chain sleuth added.
Specter, another on-chain investigator, stated that the victim wallets held PUSD, a collateral token backed by USDC (CRYPTO: USDC) used for all trading on Polymarket.The stolen assets were then swapped for Ethereum (CRYPTO: ETH) and consolidated into a single address.
Polymarket On Hackers’ Radar?The latest security breach comes barely a month after Polymarket revealed that the wallet its employees used to top up accounts and pay user rewards had been hacked. On-chain analysts estimate the exploit at close to $700,000.
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This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, This Summer, Binance introduces a brand-new interactive campaign designed to reward meaningful participation across trading, staking, and referrals. Welcome to the MENA Spin & Win, where completing missions unlocks spins, and every spin brings the chance to win and share 50,000 USDC in rewards. By taking part in high-intent actions on Binance, eligible users can earn attempts to play and win rewards throughout the month. Join Here Activity Period: 2026-06-25 00:00 (UTC) - 2026-07-31 23:59 (UTC) How to Participate: Only users from the MENA and Pakistan regions are eligible for this campaign. Visit the MENA Spin & Win Game of Chance campaign page.Click [Join Now] to confirm participation.Complete eligible missions during the Activity Period to unlock spins.Use your spins to play the Game of Chance and reveal your reward outcome instantly.All tasks are segmented, except for the Referral task. Users will only be able to participate in the tasks for which they meet the eligibility criteria.Only actions completed via the campaign page during the Activity Period will be considered valid.All rewards would be distributed after the campaign ends by 2026-08-15. How to Earn Spins: Eligible users can unlock attempts by completing one or more of the following missions: Successfully refer friends who complete account verification (KYC) and trades at least 5 USDT equivalent to unlock attempts. For each successful referral the inviter gets 2 spins and the invitee gets 1 spin. Each inviter can refer a maximum of 30 invitees (only successful referrals will be counted).Complete your first trade on Binance of ≥ $5 on Spot, Convert or Futures to Unlock 2 spins.Available for existing users only.Complete your first trade on Binance of ≥ $5 on Spot, Convert or Futures to Unlock 2 spins.Available for new users only.Subscribe 5 USDT equivalent or more in supported products for 1 day or longer to unlock 1 attempt.Available to users who have never used Earn products before the Activity Period.Complete your first Spot trade of at least 5 USDT equivalent to unlock 1 attempt. Available to users who have never traded on Spot before the Activity Period.Complete your first Futures trade of at least 10 USDT equivalent to unlock 1 spin Available to users who have never traded on Futures before the Activity Period. Each mission may only be completed once, unless otherwise specified on the campaign page. Rewards: Each game attempt gives users a chance to win rewards from the prize pool of 50,000 USDC. Reward values may vary, and outcomes are determined at random upon each successful attempt.Rewards are on a first-come, first-served basis and will be distributed in 2 weeks after the campaign ends by 2026-08-15 in USDC tokens. Rewards will be issued in the form of USDC tokens, which needs to be claimed within 14 days of disbursement. Terms and Conditions: Only regular and VIP 1 - 3 users who complete identity verification and click "Join Now" on the Activity page during the Activity Period, will be eligible for rewards from the overall prize pool.Eligible Spot/Convert trading pairs include all available trading pairs on Binance Exchange, except BTC/TUSD, BTC/ARS, BNB/FDUSD, stablecoin-to-stablecoin, BUSD trading pairs, and 0 fee pairs. Only trades on eligible trading pairs will count toward the calculation of users’ total trading volume during the Activity Period. Binance reserves the right to disqualify user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk registered accounts, self dealing, or market manipulation).USDC token rewards will be distributed by 2026-08-15, which needs to be claimed within 14 days of disbursement.Binance reserves the right to cancel or amend any Activity or Activity Rules at its sole discretion.Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software. The Binance Terms and Conditions for Prize Promotions apply to this Activity.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. Thank you for your support! Binance Team 2026-06-26
PANews, June 26 – Tether-backed Hyperliquid mobile interface and non-custodial trading platform Dreamcash announced it will gradually shut down its CASH perpetual contract markets based on Hyperliquid HIP-3, citing that USDC is now natively integrated on the platform, placing USDT markets at a user experience disadvantage. According to the announcement, all CASH markets will be settled sequentially on a preset schedule between June 30 and July 2, with positions automatically closed at external oracle prices upon settlement, and funding rates will be set to 0 during this period. Dreamcash emphasized that the platform uses a non-custodial architecture, so user account balances and rewards will not be affected; only the relevant USDT-denominated underlying perpetual markets (such as TSLA, NVDA, GOLD, etc.) will cease trading. The team will subsequently focus on developing and promoting its crypto trading mobile application.
PANews June 26 news, USDC announced on X that USDC privacy features are now live on Starknet, enabled by STRK20 — Starknet's privacy feature for ERC-20 tokens with built-in compliance capabilities. Users can shield, send, and unshield USDC while maintaining privacy of balances, amounts, and counterparty information on the public ledger. USDC remains a USD-denominated stablecoin, and the new privacy features are suitable for payments, fund flows, payroll, and on-chain financial activities on Starknet.
PANews June 25 news, according to The Block, Kraken has partnered with decentralized lending platform Maple to launch the first fully on-chain digital asset loan warehouse facility, providing USDC liquidity for its OTC lending business for institutional and high-net-worth clients. Maple funds the facility through a revolving financing vehicle similar to traditional asset-backed securities (ABS) and establishes a bankruptcy-remote SPV structure to protect asset safety. Kraken acts as loan originator, servicer, and subordinate capital provider bearing first loss, while its Wyoming SPDI institution, Kraken Financial, holds the collateral assets.
There is a hint of support and reluctance in Russia's attitude toward Bitcoin. Recently, that extended to USDC.
Ivan Chebeskov, Russia's Deputy Finance Minister, told Expert.ru in early June that the controlled whitelist will include Circle's stablecoin in addition to Bitcoin, Ethereum, and USDT.
Here are the assets that, when Russia's new digital-asset law goes into effect, non-qualified retail investors will be able to trade.
He explained that the criteria are methodical and stated that the options can only be those four names that are already well-liked by traders, provided that their average market value is more than 5 trillion rubles (~$70 billion) during a two-year period.
That kind of thinking ensured that USDC would qualify.
It simply won't meet the criteria effectively. Shortly after Chebeskov's remarks, the structure that was intended to allow USDC entry transformed into one aimed at imposing taxes on it.
By the time of June's SPIEF forum in St. Petersburg, the same official characterized USDC, along with USDT and Binance's BNB, as a "unfriendly" asset that necessitates commissions, technical hurdles, and "advice" to encourage citizens to consider alternatives.
The retail whitelist that once featured four assets has, in just two weeks, effectively been reduced to three: BTC, ETH, and USDT, while USDC now finds itself in a distinct, penalized category.
The narrative isn't that Russia is embracing USDC. It appears that Russia has established a market-cap filter that mandates the acceptance of USDC, while simultaneously implementing a sanctions-logic filter to discourage participation.
The Legal Mechanism Behind the Flip-Flop
The anomaly is a direct result of the way the Russian government is structuring its digital currency and digital rights law, which made it through the State Duma on April 22 with 327 out of 340 votes and must be finalized by July 1, 2026.
The law achieves two goals simultaneously, and they are purposefully incompatible with one another.
The retail whitelist is first established with particular eligibility requirements, such as a market capitalization greater than 5 trillion rubles and a daily trading volume greater than 1 trillion rubles, both of which must be maintained continuously for a period of two years.
No geopolitical assessment is being made here; this is a quantitative study.
If you implement it now, the only stablecoins and large assets that qualify are Bitcoin, Ethereum, USDT, and USDC. This is why Chebeskov confirmed USDC's inclusion almost as a formality.
Second, the Law and its Regulatory Framework empower the Russian Central Bank and the Ministry of Finance to impose "economic incentives, such as commissions or recommendations" on assets owned by companies registered in "unfriendly" jurisdictions, a categorization that Russia has maintained since 2022 and encompasses the United States, the European Union, and the United Kingdom.
Circle was founded in the United States.
The British Virgin Islands-based Tether has spent the last three years crafting a geopolitical position that is intentionally vague.
Interestingly, it has granted US law enforcement demands to freeze wallets, including a substantial $344 million freeze, as reported by Izvestia, suggesting that it is not exempt from the hazards linked with such measures.
According to reports, USDT was almost banned by authorities until the industry rallied and had it added to the authorized list; USDC and BNB are still being investigated.
The main reason USDT is able to avoid taxes while USDC is subject to them appears to have less to do with the technical risk of asset freezing – since both issuers can do it – and more to do with Tether's track record of enabling transactions linked to Russia, in contrast to Circle's considerably stricter stance on sanctions compliance.
What The Fees Would Actually Look Like
Officials and experts who have been apprised of the draft are starting to provide some ideas, although the law has not yet defined a particular figure.
The friction associated with "unfriendly" tokens, according to Freedom Global analyst Vladimir Chernov, ranges from 0.5% to 2%. For dollar-pegged stablecoins like USDC, the friction increases significantly to 3%.
Assuming a retail investor is not qualified and has an annual purchase limit of 300,000 rubles, or about $4,000, the numbers soon start to add up: a 3% cut on an already small allocation puts a heavy strain on the one asset, a dollar stablecoin, that retail Russians have used to protect themselves from ruble volatility.
That is the part of the story that the audience should think about. Russia isn't trying to drive USDC prices down by prohibiting it; it did it for years with larger crypto restrictions, yet adoption still increased.
The process involves presenting USDC inside a well-thought-out framework that brings about controlled obstacles in a newly regulated setting, all the while retaining the alluring headline – "USDC is approved!" – as an assertion of truth.
This type of regulatory capture differs from others in that it allows for future adjustments to be made through "commissions or recommendations" rather than legislation.
This keeps the limitations out of the slower three-reading legislative process and under the control of ministerial discretion.
Why Tether Wins This Round And Circle Doesn't
This disparity is important for reasons that go well beyond Russia. Chebeskov reported over 50 billion rubles, or around $650-700 million, in daily crypto transactions overall, indicating a high daily volume of USDT in Russia.
Chainalysis also estimates that between July 2024 and June 2025, Russia processed $376 billion worth of cryptocurrency, more than any other European country.
An integral aspect of this process is stablecoins, the most prominent of which is USDT. These allow Russian importers and exporters to transact cross-border with clients in China, the UAE, Turkey, and other countries.
There has never been much of a chance that Moscow will reduce USDC's stake in that channel because Circle was never a good candidate for avoiding sanctions because to its adherence to rules and ties to the US.
Moscow is putting the finishing touches on an informal market hierarchy that has already formed: USDT for trading, BTC and ETH for value storage, and USDC as the secondary choice that satisfies the paper market-cap criterion.
Even if Circle's hands-on experience is limited, the symbolic weight of it makes some people uneasy.
When US-regulated issuers are subject to scrutiny from OFAC and Treasury for infrastructure compliance with sanctioned states, having their stablecoin designated as the "taxed" version inside the G20 regulatory framework is hardly the kind of recognition they seek.
In contrast to Tether's opaque operation, Circle has built its whole value proposition and public listing story on being a trustworthy, validated, US-aligned alternative.
What makes USDC attractive to regulators in Washington, Brussels, and Singapore – its transparency and local presence – are precisely what cause the "unfriendly asset" fee in Moscow, according to the Russian framework, which basically flips that premise on its head.
The Ruble-Stablecoin Endgame
Not the penalty on USDC, but the replacement he suggested is the most important thing to remember from Chebeskov's remarks at SPIEF. The perfect option for diverted capital, according to him, would be stablecoins tied to the ruble or instruments tied to the dirham from "friendly" countries.
There is no abstraction in that.
As per CertiK's reporting, the Kyrgyzstan-issued stablecoin A7A5 has handled more over $110 billion in transactions since the beginning of 2025. With this, it surpasses all other non-dollar stablecoins in terms of worldwide market capitalization.
In addition, Moscow formally acknowledged it in September 2025 as a digital currency for international commerce. Because of its role in helping sanctions evaders, it is now under direct sanctions from the United States and the United Kingdom. Another exchange that was most associated with it, Grinex, shut down in April after a hack.
Taken as a whole, the structure in place is less concerned with consumer protection and more of a strategic move toward lessening the retail sector's dependence on the dollar.
Since neither Bitcoin nor Ethereum has an issuer that may be subject to penalties, they continue to play an important role as politically neutral assets.
The infrastructure for trade settlement is already reliant on USDT, thus its removal would create major disruption, hence it remains in place, albeit grudgingly.
Since USDC and BNB are functionally equivalent and have symbolic value in relation to the Western financial system, they are taxable.
Regulatory backing for stablecoins like the ruble and dirham makes them more secure since they allow for the transfer of value through tools that can be easily controlled or shielded from sanctions by countries like Russia, the UAE, and others in the BRICS.
The Outlook
The likelihood that something will stick depends on three things. It is anticipated that adjustments will be proposed soon after the vote, following the second reading in the Duma.
Russian financial institutions have previously pushed for the whitelist's limits to be loosened and for transfers to non-custodial wallets abroad to be permitted via their organization. There is still time to make modifications to the final version before July 1st, the deadline.
The second point is the cost structure; there are no official rules in place at the moment, but a 0.5% charge isn't much of an issue, and a 3% fee is getting close to becoming serious.
Lastly, the capacity to implement regulations, according to reports, Roskomnadzor is planning to implement DNS-level filtering in order to combat unlicensed foreign exchanges.
That shows Moscow is serious about backing the fee structure with technical blocking measures, not just a pricing signal that smart users can get around.
Russia included USDC on its whitelist, as the headline states. Contrary to popular belief, Russia is bound by law to admit USDC while simultaneously erecting obstacles to prevent it from staying.
Key HighlightsCRCL Shares Rebound on Strategic Japan ExpansionNomura Collaboration Focuses on Real-Time Currency ExchangeJapan Strengthens Digital Currency Regulatory FrameworkGet 3 Free Stock Ebooks Circle (CRCL) stock gains momentum following Nomura collaboration announcement for Japan market. Partnership aims to deliver instant foreign exchange settlement infrastructure by 2027. USDC stablecoin technology positioned to reduce cross-border transaction times for Japanese businesses. Nomura Securities to oversee client relations and regulatory compliance locally. Japan’s progressive stablecoin framework enables institutional blockchain integration. Shares of Circle Internet Group experienced a pre-market rally as the digital currency firm progressed with its strategic entry into the Japanese market. CRCL climbed 1.67% to reach $72.17 during early trading, recovering from a 6.21% decline that brought the stock to $70.98 in the prior session. Market enthusiasm grew following confirmation of a stablecoin-based settlement collaboration with financial giant Nomura.
Circle Internet Group, CRCL
CRCL Shares Rebound on Strategic Japan Expansion Circle’s stock demonstrated resilience as investors evaluated the firm’s expanding footprint in Japan’s foreign exchange infrastructure. This collaboration represents a significant opportunity to integrate Circle’s stablecoin technology into high-value corporate payment channels and global trade transactions. The initiative reinforces the company’s competitive standing within compliant digital payment ecosystems.
Circle maintains USDC, the globe’s second-most valuable dollar-pegged stablecoin measured by total market capitalization. Businesses leverage USDC across multiple functions including payment processing, digital asset trading, treasury management, and blockchain-enabled financial clearing. Circle’s growth trajectory centers on collaborations with licensed financial entities to broaden stablecoin adoption internationally.
The firm’s market penetration strategy emphasizes alliances with banking institutions, cryptocurrency platforms, and payment service providers. Circle delivers the underlying USDC infrastructure, while regional collaborators manage customer relationships, regulatory adherence, and fiat currency exchanges. Consequently, this framework enables Circle to access strictly regulated territories through trusted financial intermediaries.
Nomura Collaboration Focuses on Real-Time Currency Exchange Circle and Nomura are working toward launching their foreign exchange settlement platform in Japan’s commercial market by early 2027. Circle will supply the USDC blockchain payment infrastructure, whereas Nomura Securities will handle corporate customer engagement and compliance obligations. The platform will primarily serve trade financing needs, international investment flows, and substantial cross-border remittances.
The envisioned system would enable businesses to transform Japanese yen into USDC tokens before transmitting value across blockchain networks. A designated financial intermediary would subsequently exchange the stablecoins into destination currencies. Such transactions could potentially execute within minutes rather than spanning multiple business days.
Conventional correspondent banking networks frequently introduce delays as financial institutions navigate disparate technological systems, operational schedules, and geographic time differences. Blockchain-powered settlement mechanisms could eliminate these bottlenecks while minimizing counterparty risk associated with large-value transfers. Nevertheless, both organizations must upgrade operational infrastructure and obtain necessary regulatory permissions before commercial deployment.
Japan Strengthens Digital Currency Regulatory Framework Circle initially accessed the Japanese market through strategic partnerships that aligned USDC operations with domestic stablecoin legislation. These arrangements established compliant pathways for digital payment execution, transaction settlement, and enterprise treasury applications. The Nomura initiative represents an expansion of this regulatory foundation into corporate currency exchange services.
Nomura has conducted multiple blockchain technology pilots focused on institutional financial applications and securities processing. Earlier experiments encompassed government bond collateralization and stablecoin-facilitated securities clearing mechanisms. This new partnership advances Nomura toward operational blockchain-based settlement offerings.
Japan administers stablecoin operations under its Payment Services Act, restricting issuance authority to authorized financial service providers. Regulatory authorities have additionally explored incorporating digital assets under frameworks governing conventional financial instruments. These regulatory developments may facilitate expanded institutional participation while preserving rigorous supervision of digital asset operations.
Circle and Japan’s leading investment bank Nomura have announced a strategic partnership to develop an instant foreign exchange settlement service tailored for Japanese corporations. According to a Thursday report by Nikkei, the joint service is targeted for launch as early as 2027.
Cross-border payments set for transformationThe planned settlement infrastructure will allow companies to convert funds into new US dollar stablecoins for use in cross-border transactions. This model aims to reduce delays caused by traditional banking hours and time zone differences. The report highlights that accelerating the settlement process could bring major efficiency gains, particularly for corporate payments.
The report notes that the upcoming service could enable Japanese firms to convert funds into new dollar-based stablecoins and settle cross-border payments instantly.
This initiative signals the entry of one of the world’s largest dollar stablecoins into Japan’s institutional foreign exchange markets. As a result, the use of stablecoins in intercompany international payments could see significant expansion in the coming years.
Glossary: A stablecoin is a digital asset whose value is typically pegged to a fiat currency such as the dollar or yen. Settlement refers to the final completion of a payment, where funds are definitively transferred between parties.
Circle, the issuer of USDC with a market capitalization of $73.8 billion, is currently recognized as the world’s second largest stablecoin provider. As this article was being prepared, neither Circle nor Nomura had issued an official statement regarding the partnership.
Rapid progress on stablecoin regulation in JapanJapan has accelerated its progress in the stablecoin sector as financial institutions evaluate regulatory-compliant, blockchain-based settlement solutions. On Wednesday, SBI Holdings and Startale Group introduced JPYSC, a yen-backed stablecoin designed for corporate use and cross-border settlements, supported by a trust bank. Over the same period, Ripple USD also became officially available for use in Japan.
Japan has become one of the first major economies to establish a legal framework for stablecoins, enabling banks, trust companies, and licensed money transfer operators to issue regulated tokens.
The legal foundation for stablecoins in the country is shaped by the Payment Services Act, which allows banks, trust companies, and licensed payment institutions to issue regulated tokens. This framework is credited with enabling swift innovation in the sector.
Taxation and ETF reforms in focus for digital assetsJapanese regulators are also reassessing the legal status of crypto assets. While currently governed by the Payment Services Act, there are steps underway to bring digital assets under the Financial Instruments and Exchange Act. Such a shift could align crypto assets with the regulatory framework of traditional financial products.
Among the proposed reforms is a reduction of the capital gains tax on crypto assets from the current high of 55% to a flat rate of 20%. These changes are seen as crucial for attracting corporate interest and expanding investment vehicles related to digital assets in Japan.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
MiCA is the European Union’s first comprehensive rulebook for crypto, and on July 1, 2026, its transition period ends for good. This guide explains what MiCA does, why USDT got delisted while USDC did not, and what the hard deadline means for exchanges and users.
Summary
MiCA becomes fully enforceable across the European Union on July 1, 2026, after which crypto firms without a MiCA license can no longer legally serve EU users. The regulation introduced a single framework for crypto across all EU member states, with strict rules for stablecoins, exchanges, and other crypto service providers. MiCA compliance kept USDC listed on regulated European exchanges, while USDT was delisted after its issuer chose not to seek authorization. Table of Contents
What MiCA actually regulatesThe stablecoin rules and why USDT got delistedCASPs: the rules for exchanges and service providersThe July 2026 deadline and the great narrowingA worked example: what a token and an exchange each faceWhat MiCA leaves unsettledMiCA in the global pictureWhat it means for everyday usersFrequently Asked Questions MiCA, short for Markets in Crypto-Assets, is the European Union’s first comprehensive law governing crypto-assets and the companies that deal in them, creating one common rulebook across all twenty-seven member states in place of the patchwork of national approaches that came before. Formally known as Regulation (EU) 2023/1114, it entered into force in mid-2023 and has rolled out in phases ever since, and it now sits at a decisive moment: on July 1, 2026, the transition period that let existing crypto firms keep operating under old national rules expires for good, and Europe’s market supervisor has been blunt that there will be no extensions.
After that date, any company offering crypto services to European Union clients without a proper MiCA license is simply breaking the law. This guide explains what MiCA is, the categories it creates, why some stablecoins survived in Europe while others were delisted, what a crypto company must do to comply, and what the hard 2026 deadline means for exchanges and ordinary users alike.
The significance of MiCA is hard to overstate, because the European Union is one of the largest economic blocs on earth and MiCA is the most ambitious attempt yet to bring crypto fully inside a traditional financial-regulation framework. Before MiCA, a crypto exchange or token issuer operating in Europe faced a confusing mix of national rules, with one regime in Germany, another in France, another in Malta, and gaps everywhere in between.
MiCA replaces that fragmentation with a single, harmonized system: get authorized once, and you can passport your services across the entire bloc. The trade-off is that the bar to get authorized is high, the obligations are heavy, and the deadline to clear them is now days away rather than years off. The result is a market being reshaped in real time, with a small number of licensed winners, a large number of firms facing exit, and a stablecoin landscape that already looks very different inside Europe than outside it.
What MiCA actually regulates MiCA divides the crypto world into categories and applies different rules to each, so the first step in understanding it is learning what those categories are. At the top level, MiCA governs two kinds of actors: the issuers of crypto-assets and the providers of crypto-asset services. For issuers, MiCA sorts tokens into three buckets.
The first is electronic money tokens, or EMTs, which are stablecoins pegged to a single official currency, such as a euro-pegged or dollar-pegged coin. The second is asset-referenced tokens, or ARTs, which are stablecoins backed by a basket of things, multiple currencies, commodities, or other assets, rather than a single currency. The third is a catch-all category of other crypto-assets, which covers utility tokens, governance tokens, and unbacked cryptocurrencies like Bitcoin and Ether, the assets most exchanges handle every day.
Each bucket carries different obligations. The two stablecoin categories face the strictest treatment, because regulators view stablecoins as the part of crypto most capable of threatening the wider financial system, a concern sharpened by the 2022 collapse of the TerraUSD algorithmic stablecoin that wiped out tens of billions of dollars. EMT and ART issuers must hold proper reserves, grant holders redemption rights, and meet governance and disclosure standards.
The other crypto-assets face lighter rules, mainly requirements to publish an honest whitepaper before offering a token to the public and to avoid market abuse. Notably, MiCA largely excludes non-fungible tokens, unless they are issued in a large fungible series that makes them function more like ordinary tokens, and it excludes assets already covered by existing financial law, such as securities. The category a token falls into determines almost everything about how MiCA treats it, which is why getting the classification right is the starting point for any issuer.
The stablecoin rules and why USDT got delisted The most visible effect of MiCA so far has been on stablecoins, and the clearest way to understand the rules is through what happened to the two largest dollar stablecoins. Under MiCA, a stablecoin can only be offered by European Union-regulated platforms if its issuer is authorized, which for a single-currency stablecoin means holding an e-money or credit institution license and meeting MiCA’s reserve, redemption, and governance requirements.
The reserve rules are strict: an EMT must back its tokens fully, holding one hundred percent of reserves in safe, segregated accounts, while an ART must keep at least a substantial portion segregated at regulated credit institutions. MiCA also bars stablecoin issuers from paying interest or yield to holders, a deliberate choice to stop stablecoins from competing with bank deposits and drawing money out of the banking system.
This is where the two giants diverged. Circle, the issuer of USDC, pursued authorization through a European subsidiary and obtained MiCA approval for USDC and its euro stablecoin EURC, making them compliant and freely offered across European Union exchanges. Tether, the issuer of USDT, the largest stablecoin in the world, did not apply for MiCA authorization and confirmed its token was not compliant. The consequence was swift: major European Union-regulated exchanges, including the regional arms of the largest global platforms, delisted USDT and other non-compliant stablecoins for their European users.
The nuance worth understanding is that USDT is not banned from existence in Europe; users can still hold it in self-custody and trade it on decentralized exchanges. What changed is that a MiCA-licensed exchange can no longer offer it, which fragments liquidity and pushes European users toward compliant alternatives like USDC. Every stablecoin authorized under MiCA so far has been an EMT, a single-currency token, and USDC’s compliance versus USDT’s non-compliance has become the textbook illustration of the rules in action.
CASPs: the rules for exchanges and service providers Beyond token issuers, MiCA’s other major target is the companies that provide crypto services, which the regulation calls crypto-asset service providers, or CASPs. This category is broad: it covers exchanges, brokers, custodians, wallet providers that hold customer assets, trading platforms, and firms that advise on or place crypto-assets.
If your business touches customer crypto in almost any commercial way, you likely need a CASP authorization to keep serving European Union clients. The obligations that come with that authorization are extensive and closely mirror those imposed on traditional financial firms, which is the entire point: MiCA aims to make crypto service providers behave like regulated financial institutions rather than lightly governed startups.
A CASP must meet requirements covering customer identity verification and anti-money-laundering controls, the safekeeping and segregation of customer assets, governance and capital standards, market-conduct rules that prohibit insider trading and market manipulation, and clear disclosure of risks to customers. Authorized CASPs also become subject to the European Union’s operational-resilience framework, which mandates cybersecurity and incident-reporting standards, and to the crypto travel rule, which requires them to pass along sender and recipient information on transfers, the same obligation that has applied to bank wires for decades.
The reward for shouldering all of this is passporting: once a firm is authorized in any one member state, it can offer its services across all twenty-seven without seeking separate licenses in each, turning a fragmented continent into a single market. The burden is that running these programs at scale, across a global customer base, is expensive and demanding, which is exactly why so many firms are struggling to clear the bar before the deadline.
The July 2026 deadline and the great narrowing Everything about MiCA now points toward a single date, and understanding the phased rollout explains why that date matters so much. MiCA did not arrive all at once. The stablecoin rules for EMTs and ARTs took effect in mid-2024. The full CASP authorization regime took effect at the end of 2024, the point from which firms needed a MiCA license to operate.
But MiCA included a grandfathering provision, a transition period that let firms already operating legally under their national rules continue doing so while they applied for full MiCA authorization. Member states set their own transition windows within the limits MiCA allowed, ranging from short windows ending in 2025 to the full eighteen-month period ending on July 1, 2026. That final date is the bloc-wide cutoff, the moment the transition ends everywhere at once.
What makes the deadline dramatic is how few firms have actually cleared the bar. As the cutoff approached in 2026, roughly a couple of hundred firms held some form of full MiCA authorization across the entire union, but the number cleared to run an actual crypto trading platform was strikingly small, in the low double digits, with a number of member states having issued zero trading-platform licenses at all. Industry executives openly warned that a large majority of exchanges currently operating may fail to secure a license and be forced to exit the European market, and reports emerged of major global exchanges facing rejection in specific countries.
Europe’s market supervisor reinforced the message with no room for ambiguity: no member state may extend the transition beyond July 1, 2026, and after that date, operating without authorization is a breach of European Union law, not a paperwork gap. The picture, then, is of a great narrowing, a market being compressed from a crowded field into a small set of licensed survivors, with the rest required to wind down their European operations or leave.
A worked example: what a token and an exchange each face To make the rules concrete, it helps to walk through how MiCA treats two typical cases, a stablecoin issuer and an exchange, because the abstract categories become much clearer in motion. Imagine a company issuing a euro-pegged stablecoin and wanting European users to hold and trade it on regulated platforms.
Under MiCA, that token is an electronic money token, so the issuer must hold an e-money or credit institution license, back every token fully with reserves held in safe, segregated accounts, grant holders the right to redeem their tokens for the underlying currency on demand, publish a compliant whitepaper, and accept that it cannot pay holders any interest or yield. If the company does all of this and secures authorization, its stablecoin can be offered across the bloc; if it does not, regulated exchanges must refuse to list it, exactly the fork in the road that separated the compliant dollar stablecoin from the non-compliant one. The token’s fate under MiCA is decided entirely by whether its issuer accepts this package of obligations.
Now imagine an exchange that wants to keep serving European customers. Its path runs through CASP authorization. It must apply to a national regulator in some member state, prove it meets MiCA’s standards for governance, capital, and the safekeeping and segregation of customer assets, stand up the identity-verification and anti-money-laundering machinery that turns it into an obliged entity under European law, implement the travel rule so it passes sender and recipient information on transfers, meet the operational-resilience and cybersecurity requirements, and submit to ongoing supervision and market-conduct rules. If the regulator grants authorization, the exchange can passport that single license across all twenty-seven member states and operate bloc-wide.
If it cannot meet the bar or applies too late, it must stop serving European Union clients once the transition ends, winding down in an orderly way. The two journeys share a logic: MiCA offers a single, valuable prize, legal access to the entire European market, in exchange for accepting obligations modeled on those that govern banks and regulated financial firms.
What this worked example reveals is the deeper character of MiCA. It is not a light-touch registration that lets crypto firms keep operating much as before with a new label. It is a serious authorization regime that demands real reserves, real controls, real segregation of customer money, and real accountability, and it forces every issuer and service provider to decide whether the prize of European market access is worth the cost of meeting those demands.
For well-resourced firms with a long-term commitment to Europe, the answer is often yes, and they have built the compliance machinery to clear the bar. For many smaller or offshore operators, the cost is too high or the timeline too short, which is why the market is narrowing toward a smaller set of licensed survivors. The categories and rules described earlier are not bureaucratic abstractions; they are the concrete hurdles that decide, token by token and firm by firm, who gets to operate in Europe after the transition closes.
What MiCA leaves unsettled For all its ambition, MiCA leaves important questions open, and the gaps are as revealing as the rules. The largest unsettled area is decentralized finance. MiCA is built around identifiable issuers and service providers, the companies it can authorize and supervise, but a genuinely decentralized protocol has no company at its center, no firm to hold a license or answer to a regulator. MiCA states that fully decentralized arrangements, those provided without any intermediary, fall outside its scope, which sounds clean until you ask what “fully decentralized” actually means.
The market supervisor has not yet defined the term precisely, and most real protocols sit somewhere in the middle, with a governance token, a development team, a foundation, or a front-end operator that a regulator might decide counts as an intermediary. The result is genuine uncertainty about which DeFi protocols MiCA captures and which it does not, a gap that will be filled by future guidance and enforcement instead of the text itself.
Other tensions are surfacing as the rules meet reality. MiCA places caps on how widely very large stablecoins denominated in non-European currencies, such as dollar stablecoins, can be used as a means of payment within the bloc, a provision aimed at protecting European monetary sovereignty but one that complicates life for a market where most trading is dollar-denominated.
There are overlaps with other European financial laws, such as payment services rules, that can double the compliance burden for some stablecoin activities and have prompted worries about the competitiveness of euro stablecoins. And politically, the dossier has grown charged, with some member states floating the idea of a mechanism to switch off foreign stablecoins seen as a systemic threat.
None of these unsettled questions undermines MiCA’s core achievement of creating a single framework, but they are reminders that a law this sweeping cannot anticipate everything, and that MiCA will keep evolving through guidance, enforcement, and amendment for years after the headline deadline passes.
MiCA in the global picture MiCA does not exist in isolation, and seeing it alongside parallel efforts elsewhere reveals where global crypto regulation is heading. The same years that produced MiCA also produced the United States’ first comprehensive federal stablecoin law, the United Kingdom’s move toward its own crypto regime under its financial regulator, and Hong Kong’s stablecoin ordinance, among others.
These frameworks differ in detail, but they converge on a striking number of core principles: stablecoin issuers should hold full, high-quality reserves; they should be licensed and supervised; holders should have clear redemption rights; service providers should enforce identity checks and anti-money-laundering controls; and the whole apparatus should be brought inside the regulatory perimeter that governs traditional finance. MiCA, having arrived early and comprehensively, has functioned as something of a reference point that later frameworks echo and respond to.
This convergence matters for anyone trying to understand the trajectory of the industry. The era in which crypto operated in a regulatory vacuum, where an exchange could serve a global audience with minimal oversight, is closing, and MiCA is one of the clearest markers of that shift. The picture that emerges is of a maturing market in which access increasingly depends on compliance, in which the same stablecoin can be freely available in one jurisdiction and delisted in another based purely on its issuer’s regulatory posture, and in which the cost of operating legally has risen sharply.
For Europe specifically, MiCA’s promise is a safer, more transparent market with clear rules and a public register of authorized firms and tokens that anyone can consult. Its cost is a heavier compliance burden, a narrower field of providers, and reduced access to some popular global assets. Whether that trade favors consumers or stifles innovation is the live debate, but the direction is set: in Europe, crypto is now a regulated activity, and after July 1, 2026, that is true without exception.
What it means for everyday users For an ordinary person using crypto in Europe, MiCA changes the landscape in concrete ways worth understanding before the deadline instead of after. The most immediate effect is on which platforms and tokens you can use. If you rely on an exchange that has not secured a MiCA license, that platform may be forced to stop serving European Union clients after July 1, 2026, which in practice can mean frozen new deposits, halted trading features, and eventually a forced withdrawal of your funds, sometimes during a period of low liquidity and high fees. The protective move is to check, today instead of on July 2, whether the platforms you use have secured or are clearly on track to secure authorization, and to favor those that have. An unauthorized service operating after the deadline offers reduced legal protection and potential restrictions on access to your own assets.
The second effect is on stablecoins. If you hold a non-compliant stablecoin on a European Union-regulated exchange, you may find it delisted, with trading pairs removed and liquidity drying up, which is why many European users have shifted toward MiCA-authorized options. You can still self-custody whatever you like, but the convenient on-ramps and trading pairs increasingly favor compliant tokens. The broader takeaway is that MiCA, for all its complexity, ultimately aims to make the European crypto market safer and more transparent for users by ensuring the exchanges they trust meet real standards and the stablecoins they hold are genuinely backed. The cost of that safety is fewer choices and more friction, and a transition period that, for some platforms and tokens, ends abruptly.
The practical wisdom is simple: understand which of your platforms and assets are compliant, make any moves before the deadline instead of during the disruption, and treat MiCA authorization as a meaningful signal that a service has accepted real regulatory accountability.
Frequently Asked Questions What does MiCA stand for and what is it? MiCA stands for Markets in Crypto-Assets. It is the European Union’s first comprehensive law for crypto-assets and the companies that deal in them, formally Regulation (EU) 2023/1114. It replaces the previous patchwork of national rules with one harmonized framework across all twenty-seven member states, covering token issuers and service providers like exchanges, custodians, and wallet providers. Its goals are to protect consumers, prevent market abuse, ensure stablecoins are properly backed, and bring crypto inside the same kind of regulatory perimeter that governs traditional finance, while letting authorized firms operate bloc-wide.
Why was USDT delisted in Europe but not USDC? Under MiCA, a stablecoin can only be offered by European Union-regulated platforms if its issuer is authorized and meets MiCA’s reserve, redemption, and governance rules. Circle pursued authorization through a European subsidiary and obtained MiCA approval for USDC and its euro stablecoin EURC, so they remain available. Tether did not apply for MiCA authorization and confirmed USDT was non-compliant, so European Union-regulated exchanges delisted it. USDT is not banned outright; it can still be self-custodied and traded on decentralized exchanges, but licensed European platforms can no longer offer it.
What happens on July 1, 2026? That is when MiCA’s transition period ends across the entire European Union. The transition, or grandfathering, let firms already operating under national rules keep going while they applied for full MiCA authorization. After July 1, 2026, any company providing crypto services to European Union clients without a proper MiCA license is breaking European Union law. The market supervisor has stated there will be no extensions. Because relatively few firms have secured licenses, especially to run trading platforms, many exchanges may be forced to exit the European market or wind down their services there.
What is a CASP under MiCA? A CASP is a crypto-asset service provider, MiCA’s term for companies that offer crypto services such as exchanges, brokers, custodians, wallet providers holding customer assets, and trading platforms. To serve European Union clients, a CASP needs MiCA authorization, which comes with obligations modeled on traditional finance: identity checks and anti-money-laundering controls, segregation and safekeeping of customer assets, governance and capital standards, market-conduct rules against manipulation and insider trading, operational-resilience requirements, and the crypto travel rule. Once authorized in one member state, a CASP can passport its services across all twenty-seven.
Does MiCA regulate DeFi and NFTs? Only partly, and with significant uncertainty. MiCA largely excludes non-fungible tokens unless they are issued in a large fungible series that makes them behave like ordinary tokens. For decentralized finance, MiCA says fully decentralized arrangements provided without any intermediary fall outside its scope, but it has not precisely defined “fully decentralized.” Since most protocols have a governance token, a development team, a foundation, or a front-end operator, regulators may decide some of them have an intermediary that MiCA captures. So the treatment of many DeFi protocols remains unsettled and will be clarified through future guidance and enforcement.
How does MiCA affect ordinary crypto users in Europe? Mainly through which platforms and tokens you can use. If an exchange you use has not secured a MiCA license, it may have to stop serving European Union clients after July 1, 2026, which can mean halted deposits and trading and eventually forced withdrawals. Non-compliant stablecoins may be delisted from regulated exchanges, with liquidity shifting to compliant ones like USDC. The protective steps are to check whether your platforms are authorized, move before the deadline instead of during any disruption, and treat MiCA authorization as a signal that a service has accepted real regulatory accountability. You can still self-custody assets freely.
This article is educational information, not legal or financial advice. MiCA implementation, license counts, stablecoin compliance status, and deadlines can change, and details reflect reporting available as of June 25, 2026. Confirm current requirements and the status of specific platforms and tokens through official sources such as the European Securities and Markets Authority register before relying on anything described here.
Skip to contentHow STRK20 brings confidential stablecoin payments to DeFi
Stablecoins have become the unit of account for onchain finance. They settle trades, move treasury, pay contributors, and back most of the liquidity that DeFi runs on. But every one of those transfers carries a cost that rarely gets named: it is permanently, irreversibly public.
On Starknet, this has changed with privacy features for USDC, built with STRK20. With STRK20, Starknet’s native privacy framework, USDC on Starknet gains confidential capabilities: shieldable, privately transferable, and usable across DeFi, without leaving the standard ERC-20 behind.
The transparency problem with blockchain transactionsSend stablecoins on any chain and you broadcast the full transaction to anyone watching: the sender, the recipient, the exact amount, and the timestamp, all written to a public ledger forever. For a base layer that’s a feature. For the entity actually moving the money, it’s an exposure.
A treasury rebalance reveals position size and intent. A market-making wallet leaks its strategy with every fill. Counterparties can map your entire balance history before you’ve signed a single agreement, and MEV searchers can reconstruct your behaviour from a single linked address. The transparency that makes the network trustworthy makes its most important asset hostile to anyone who needs discretion, which is to say most enterprises, most institutions, and a fair number of individuals who simply expect their finances to be their own.
Workarounds exist, but they fragment liquidity, demand new tokens, or wrap privacy in a separate app users have to trust and migrate to. None of that is the same thing as privacy on the asset you already hold.
Introducing USDC privacy features with STRK20STRK20 is a privacy framework for all ERC-20 tokens on Starknet. It lets any ERC-20 support shielded balances and private transfers without altering the token contract and without asking wallets or apps to rebuild from scratch. USDC is among the first stablecoins on Starknet to have these privacy capabilities.
The model is:
– Shield USDC to hold a private balance, invisible to outside observers on the public ledger.
– Unshield at any time to return to standard, fully transparent ERC-20 behaviour.
– Transfer shielded USDC privately, with asset type, amount, and participating wallets all hidden from outside view.
Crucially, this is privacy at the protocol level, not an app integration. It’s the same USDC, in the same wallet, private when you need it to be and visible when you don’t. There’s no second token, no bridge into a walled garden, no duplicated balance to reconcile.
How it worksShielding moves USDC into a privacy pool where balances and transfers are protected by zero-knowledge proofs rather than published in the clear. A private transfer proves the transaction is valid (funds exist, the sender is authorised, nothing is double-spent) without revealing what moved, how much, or between whom.
Proof generation happens operator-side; verification happens at the sequencer level, using the same infrastructure Starknet already uses to prove its own blocks. Unshielding reverses the process, returning USDC to the public ledger whenever the user chooses.
And it won’t price privacy as a tax. Unlike approaches that skim a percentage of transaction value, STRK20 charges a fixed fee per transaction, closer to a gas fee than a toll. That flat cost is what makes private stablecoin payments viable at real volume rather than only for the largest transfers.
Confidential DeFi on Ready X and XversePrivacy that strands your assets isn’t very useful, so STRK20 is built for assets to stay composable. From the privacy pool, users will be able to swap in and out of USDC confidentially on Ready and XVerse wallets
That means you can hold a private balance and still participate in onchain markets without re-exposing yourself the moment you want to do something with it. These are the first integrations, not the last; more DeFi venues will follow as the framework rolls out.
Compliance architecture and viewing keysPrivacy and auditability are usually framed as a trade-off. STRK20 is designed to deliver both, by building compliance rather than bolting it on.
When a user shields, they automatically register a viewing key. The key is scoped to that user and that user alone. If a legitimate legal request is made, a designated third-party auditing entity can use it to reconstruct *that specific user’s* transaction history, and nothing else. No other participant in the pool is affected, and access sits with authorised bodies under legal process, never with counterparties, observers, or the users themselves peering into one another.
The result is privacy for users by default, with a clean, scoped path to auditability for regulators when the law requires it.
Why StarknetNone of this is incidental to Starknet; it’s a direct consequence of what the network was built on. Years of zero-knowledge research and engineering by StarkWare produced a STARK-based proving and verification stack efficient enough to make private payments both cheap and scalable, rather than a premium feature reserved for whales.
That same efficiency is why STRK20 can support complex private payments at scale where other privacy designs hit a wall. And it isn’t experimental: verification runs on the very infrastructure Starknet has used to prove its own blocks in production for over five years. Shielded USDC inherits that foundation.
Stablecoins gave onchain finance a unit of account. STRK20 is set to give it a private one.
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Confidential stablecoin payments are here on Starknet. Follow the rollout and get the technical details at strk20.starknet.io
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