The decline reflects investor concerns that the new entrant could challenge the adoption and enterprise market share of Circle’s USD Coin (CRYPTO: USDC).
Open USD Launch Raises Competitive Pressure Open Standard said Tuesday that Open USD is designed for global money movement. Businesses can mint and redeem the stablecoin without fees or volume limits.
The organization said partners will receive reserve earnings after management fees. An independent board representing participating partners will oversee governance of the stablecoin.
Major Companies Back New StablecoinMore than 140 companies have committed to supporting Open USD, including Visa Inc., Mastercard Inc., Stripe, Shopify Inc. and Coinbase Global Inc.
“What sets Open USD apart is that it’s genuinely open,” said Andy Fang, co-founder of DoorDash Inc.
Visa Chief Product and Strategy Officer Jack Forestell added that Visa is applying its operational rigor to help build the trust layer for the stablecoin.
Circle Internet Group Already Facing Supply HeadwindsThe competitive launch comes as Circle was already facing pressure. Data released June 27 showed CRCL stock trading near its lowest level since February.
According to CoinMarketCap, USDC’s market capitalization has fallen to $73.7 billion from a year-to-date high of $80 billion.
Circle’s business model relies on investing reserves into short-term government bonds, leaving it vulnerable to declining asset supplies and falling U.S. bond yields.
Technical Picture Remains WeakCircle continues to trade well below key moving averages. The stock sits 19.6% below its 20-day simple moving average, 34.1% below its 50-day average and 34.3% below its 200-day average.
The moving-average setup also remains bearish. The 20-day average is below the 50-day average, while the 50-day average moved below the 200-day average in June, forming a “death cross.” Technical analysts often view that pattern as a sign that selling pressure could persist.
Momentum indicators also remain negative. The Moving Average Convergence Divergence (MACD) indicator is below its signal line, suggesting bullish momentum continues to weaken.
The next key resistance level is around $77, where previous rebounds have struggled.
Circle Internet Group Price ActionCRCL Stock Price Activity: Circle Internet Group shares were down 16.30% at $63.57 at the time of publication on Tuesday, according to Benzinga Pro data.
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Key Takeaways Circle (CRCL) shares plummeted over 13% to approximately $65, reaching their lowest point in four months following the rival stablecoin announcement. More than 140 major corporations, including Visa, Stripe, Mastercard, BlackRock, and Coinbase, have unveiled Open USD, a new stablecoin project. Open Standard, the organization managing Open USD, is headed by Zach Abrams, who previously co-founded Bridge before its acquisition by Stripe in 2024. Open USD distinguishes itself from Circle’s USDC by offering zero-fee minting and redemption, plus shared reserve income distribution among consortium members. Circle’s CEO Jeremy Allaire dismissed concerns about the competition, asserting that USDC maintains its position as the most reliable stablecoin in the market. Shares of Circle Internet Group experienced a significant decline on Tuesday. The stock plummeted as much as 14% during trading before closing down approximately 13%, hovering around $65—marking its weakest performance since the end of February.
Circle Internet Group, CRCL
The sharp decline came after news emerged that a consortium exceeding 140 corporations intends to introduce a rival stablecoin. This new digital asset, dubbed Open USD, represents a direct challenge to Circle’s flagship USDC token.
Coinbase shares also experienced downward pressure from the announcement, declining roughly 6% to $142.37. This decline carries particular significance given that Coinbase partnered with Circle to create USDC and has historically shared in its revenue stream.
The Consortium Behind Open USD The alliance backing this initiative includes an impressive roster of industry leaders. Among the founding partners are payment giants Visa, Mastercard, and Stripe, alongside financial powerhouses BlackRock and Coinbase, plus banking institutions including BNY, Standard Chartered, and U.S. Bank.
Major technology corporations have also joined the effort. Google and IBM are both participants, along with prominent blockchain projects such as Ripple, Solana, Polygon, and Aave.
An independent entity named Open Standard oversees the project. Zach Abrams serves as its leader, bringing experience from co-founding Bridge, a stablecoin infrastructure company that Stripe purchased in 2024.
Abrams positioned the initiative as addressing market needs, stating that while current stablecoins have merits, the business community requires a solution that’s open, affordable, and structured to serve their interests at enterprise scale.
Industry observers weren’t completely caught off guard. CoinDesk had previously reported earlier this month that Stripe, Visa, and Mastercard were developing a competing stablecoin platform, with indications that Coinbase might participate.
Open USD’s Competitive Advantages Over USDC The economic model represents the most significant challenge to Circle’s revenue stream. Open USD will allow businesses to create and redeem tokens without any associated fees.
The distribution of reserve income follows a similar collaborative approach. Rather than concentrating interest earnings from reserves within a single entity, Open USD intends to distribute yields among all participating partners following operational expense deductions.
This directly threatens Circle’s primary revenue source. Circle generates income by investing USDC reserves in short-duration Treasury securities and retaining the majority of interest generated—a model that Open USD explicitly aims to disrupt.
Governance authority will be distributed among consortium members instead of residing with a sole issuer. This approach resembles USDG, another consortium-based stablecoin supported by Paxos, Robinhood, Kraken, and Galaxy Digital.
USDC presently maintains approximately $73.6 billion in circulation, positioning it as the dominant U.S.-originated stablecoin. Tether’s USDT holds a larger global presence with roughly $145 billion in circulation, though it focuses primarily on cryptocurrency trading and developing economies.
The implications for Coinbase are substantial. Revenue connected to USDC accounted for 44% of Coinbase’s subscription and services division during the first quarter.
Circle’s CEO Jeremy Allaire took to X on Tuesday to defend his company’s position, characterizing USDC as “the most trusted, widely adopted, institutional-ready stablecoin in the world.” He emphasized that Circle collaborates with thousands of institutional partners.
A Coinbase representative maintained an optimistic perspective, suggesting that additional stablecoin issuers and applications ultimately expand the total addressable market, while affirming that USDC continues to be central to their platform strategy.
According to Open Standard’s official statement, Open USD is scheduled to debut later this year.
Survey: 88% of enterprises plan to adopt stablecoins within the next year, with cross-border payment costs reduced by an average of 35%.
Payment infrastructure company Cybrid has released a new survey report indicating stablecoins are rapidly gaining traction in enterprise payment scenarios. The survey found that 42% of participating enterprises already use stablecoins for cross-border payments, while 88% said they are likely or very likely to adopt stablecoins within the next 12 months—only 2% of firms stated they will continue to rely entirely on traditional payment systems. According to the report, enterprises using stablecoins save an average of 35% on cross-border payment costs, with firms processing over $100 million in monthly payments achieving an average cost reduction of 47%. Payroll and contractor payments represent the most prominent use case, followed by supplier payments, customer payments, investment and revenue management, and treasury management, among others. Additionally, 71% of respondents identified a clear regulatory framework as the primary factor driving further mainstream adoption of stablecoins, outranking considerations such as infrastructure provider credibility and system integration. The survey was conducted from April to May this year, covering 468 senior executives from tech, financial services, and e-commerce sectors in the United States, Canada, and the United Kingdom.
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FalconX secures EU MiCA license, allowing it to offer compliant crypto services to institutional clients in Europe.
Institutional digital asset broker FalconX announced it has obtained the EU’s Markets in Crypto-Assets (MiCA) license issued by the Malta Financial Services Authority (MFSA), enabling it to provide compliant digital asset trading, custody, liquidity and related institutional services across the European Union (EU) and European Economic Area (EEA). FalconX stated that this license allows it to operate across EU member states under a unified regulatory framework, eliminating the need for individual country-specific licenses. Currently, the firm serves over 2,000 institutional clients worldwide, including asset management firms, hedge funds, banks and family offices, with cumulative transaction volumes exceeding $2.5 trillion and over $8 billion in institutional financing disbursed. FalconX noted that as the MiCA regulatory framework is fully implemented, institutional clients’ demand for compliant trading, custody and liquidity services continues to grow, and regulatory credentials are becoming a key competitive advantage in Europe’s digital asset market.
2 hours ago
Guo Wengui sentenced to 30 years in prison in connection with a fraud case involving over $1 billion.
A US court has sentenced Miles Guo (also known as Ho Wan Kwok) to 30 years in prison. In 2024, a jury convicted Guo on multiple charges including racketeering, fraud, and money laundering, with his formal sentencing now issued. Prosecutors stated that Guo defrauded over $1 billion from global victims through a series of related scam schemes spanning five years. Notably, in 2021, he promoted the cryptocurrency project Himalaya Coin (H-Coin), claiming the tokens were backed by 20% gold reserves and promising to cover all investors’ losses, raising approximately $500 million in total. Additionally, the court previously ordered the forfeiture of nearly $900 million in Guo’s illegal proceeds, as well as his luxury mansion in New Jersey and multiple high-end vehicles. Guo had close ties to Steve Bannon, a former senior advisor to US President Donald Trump; Bannon was arrested in 2020 aboard Guo’s yacht.
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The first-half 2026 funding rankings have been released, with Kalshi and Polymarket raising a combined $1.8 billion.
According to statistics, the 14 largest global funding rounds in the first half of 2026 raised a total of $4.3 billion, with prediction markets, AI, and payment sectors drawing the most investor interest. Specifically, prediction market platform Kalshi topped the list with a $1.2 billion funding round, while Polymarket secured $600 million—together, the two raised $1.8 billion, accounting for over 40% of the total capital of the top 14 rounds. In the AI space, Replit, Exa AI, and OpenRouter closed funding rounds of $400 million, $250 million, and $113 million respectively. For blockchain projects, Canton Network, Arc, and Morpho raised $355 million, $222 million, and $175 million respectively. Meanwhile, payment, RWA, infrastructure, and compliance projects including Rain, Slash, Goldcom, Alpaca, and Elliptic also featured on the list.
2 hours ago
Open Standard launches stablecoin Open USD, with over 140 institutions including Visa, BlackRock, and Coinbase participating.
Open Standard has announced the launch of Open USD (OUSD), a new stablecoin for global fund flows, noting that over 140 enterprises have joined its ecosystem, including financial, payment, and crypto industry players such as Visa, Stripe, Mastercard, American Express, BlackRock, BNY, DBS, Coinbase, OKX, MetaMask, Aave, Ripple, Fireblocks, Solana, and Polygon. According to the introduction, Open USD follows three core design principles: supporting zero-cost, large-scale minting and redemption for enterprises; returning all reserve asset yields to partners after deducting a small management fee; and being governed by a board of directors composed of independent firm Open Standard and its partners, rather than controlled by a single issuer. Open Standard states that Open USD will officially launch later this year, with the goal of building an open, low-cost, high-throughput stablecoin infrastructure with a sharing economy mechanism to meet the needs of the internet economy and global enterprise-level payments.
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Pump.fun is discontinuing support for its tokenized agent issuance feature, stating it will focus on optimizing retail user trading experience.
Pump.fun announced it will immediately cease support for its Tokenized Agent token issuance feature. The feature will no longer be available for new token launches, though projects that have already activated it will remain unaffected. The platform noted that over recent months, consistent community feedback has pointed out that excessive issuance options have sparked unnecessary user vs. user (PVP) competition. Moving forward, Pump.fun will prioritize issuance models and product features that explicitly enhance retail trading experiences.
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.
Kamino Finance just rolled out a new vault product that signals where Solana’s DeFi ecosystem is headed: toward the suits. The Hyperithm USDC Apex Vault, which went live on June 30, pairs Kamino’s lending infrastructure with yield strategies curated by Hyperithm, a regulated digital asset manager with roots in Tokyo and Seoul.
The vault is currently delivering approximately 6.77% yield on USDC deposits, with around $200K in total value locked. Those numbers are modest by DeFi standards, but the product itself tells a bigger story about institutional capital slowly finding its way onto Solana.
What the vault actually does Think of an Apex Vault as a managed fund that lives on-chain. Instead of depositors manually hunting for the best USDC lending rates across different pools, the vault’s curator, in this case Hyperithm, automatically allocates capital to optimize returns.
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Kamino has categorized this particular vault as “Balanced” risk. That sits somewhere between the conservative options that prioritize capital preservation and the aggressive strategies that chase higher returns with correspondingly higher exposure. Historically, Kamino’s USDC strategies have offered yields ranging from 4% to 9% APY, which puts the Hyperithm vault’s 6.77% right in the middle of the pack.
Who is Hyperithm Hyperithm isn’t some anonymous DeFi team with cartoon animal profile pictures. Founded in 2018 with offices in Tokyo and Seoul, the firm focuses on quantitative trading and venture investments in digital assets. The “regulated” part matters: operating across Japan and South Korea means navigating two of Asia’s more stringent crypto regulatory environments.
This isn’t Hyperithm’s first vault rodeo, either. The firm has been running similar USDC Apex vaults on Morpho, an Ethereum-based lending protocol, since around late October 2025. Those Ethereum vaults have attracted significantly more capital, pulling in millions in TVL. The strategies there focus on integrating collateral for high borrower yields while maintaining risk controls.
The bigger picture for Solana DeFi Kamino operates as Solana’s largest lending and liquidity protocol, with a multi-billion dollar TVL across its various markets. The platform has been actively pursuing a curator-led product strategy since 2025, essentially inviting professional asset managers to build structured yield products on top of Kamino’s infrastructure.
The risk side deserves honest discussion, though. Vaults like these carry multiple layers of exposure: smart contract risk on Kamino’s protocol, strategy risk from Hyperithm’s allocation decisions, and the ever-present systemic risks that come with DeFi composability. The “Balanced” risk label is Kamino’s own categorization, not an independent rating.
Investors watching this space should pay attention to whether Hyperithm’s Solana vault can replicate the traction its Ethereum counterpart achieved on Morpho. If the TVL grows meaningfully from its current $200K base, it validates the thesis that institutional-grade products can find product-market fit on Solana.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Investment firm Spiko has integrated Coinbase’s stablecoin payment infrastructure into two regulated EU Treasury-bill funds, allowing eligible investors to fund subscriptions and receive redemption proceeds using USDC and EURC.
Coinbase said Tuesday the integration covers Spiko’s EU T-Bills Money Market Fund and US T-Bills Money Market Fund. Both are structured as Undertakings for Collective Investment in Transferable Securities, or UCITS. Coinbase Payments will provide the payment, wallet and application programming interface (API) infrastructure, with the transactions settling on Base, Coinbase’s layer-2 network.
The exchange said the products are the first UCITS funds in Europe to accept direct stablecoin payments.
The move into UCITS funds comes as net sales of the assets rebounded in April, the latest data from trade group EFAMA showed on Monday. UCITS saw net inflows of 104 billion euros that month, compared to net outflows of 41 billion euros in March. Net sales reached a new record in 2025, totaling 828 billion euros and surpassing the previous 2021 high of 813 billion euros.
Tokenized funds push toward 24/7 utilityCoinbase described the integration as an example of how stablecoins could reshape payments infrastructure for mutual funds by removing bottlenecks for investors as they enter and exit a product. It positions stablecoins as settlement infrastructure, connecting onchain capital with regulated investment funds.
Investors can submit subscriptions at any time, including weekends and holidays. At the same time, redemption proceeds can be delivered to a stablecoin wallet within minutes after a position is liquidated.
Despite this, round-the-clock stablecoin transfers do not necessarily mean that the underlying fund continuously processes subscriptions and redemptions. Spiko said the Coinbase integration introduces a new payment method rather than changing the funds themselves.
Cointelegraph reached out to Coinbase for more information on order execution, but did not receive a response before publication.
Other asset managers have tested ways to provide 24/7 access to tokenized funds. In February, WisdomTree received approval for round-the-clock secondary trading and instant USDC settlement of its tokenized Treasury fund, with liquidity supplied by its broker-dealer while primary fund processes remained unchanged.
Tokenized money market funds are also increasingly being used as infrastructure beyond subscriptions and redemptions. In February, Franklin Templeton and Binance introduced a program allowing institutions to pledge tokenized fund shares as off-exchange trading collateral while the assets remain in regulated custody
Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express
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The July 1 MiCA deadline is a crypto story, yet some of its biggest winners may trade on stock exchanges. As Europe forces unlicensed firms out, a handful of publicly traded MiCA winners, the so-called MiCA stocks.
BeInCrypto analysts screened institutional money flow and options positioning to find three names whose charts reveal how traders are playing them.
Circle Internet Group (CRCL)Circle sits at the center of the July 1 MiCA deadline, making it the first of three MiCA stocks worth watching. The regulation forces non-compliant euro stablecoins off EU venues, and that consolidation favors Circle directly. Its EURC now holds roughly half the euro stablecoin market, while USDC ranks among the only top-10 stablecoins cleared under the rules.
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Yet institutional positioning complicates the bullish narrative. The Chaikin Money Flow (CMF), a proxy for institutional buying and selling pressure, has fallen steadily since March 4 and sits deep in negative territory at -0.34. Large investors have been net sellers, not buyers, even as the regulatory tailwind built.
CRCL Money Flow Decline: TradingViewThe CMF reading tracks inside a falling channel. As long as it holds that channel, a short-term bounce around the deadline stays possible. A breakdown below it would confirm sustained distribution and likely trigger heavier profit booking.
Options flow tells a more constructive near-term story. The put-call ratio, which compares demand for bearish puts against bullish calls, is dropping. Its volume reading fell from 0.75 on June 25 to 0.44, while open interest eased from 0.81 to 0.80. Falling ratios mean traders are opening more bullish call positions than puts.
CRCL Put-Call Ratio: BarchartThat leaves CRCL as a momentary, event-driven bet. The MiCA catalyst and improving options sentiment support a tactical move, with the stock last at $75.96. However, persistently negative CMF caps conviction, and a channel breakdown would nullify any deadline-driven pop.
Coinbase Global (COIN)Coinbase is the second of the MiCA stocks to watch, and arguably the clearest infrastructure winner. It secured an EU-wide MiCA license through Luxembourg’s regulator, letting it passport regulated services across all 27 member states as rivals exit the bloc.
Options positioning, however, sends a more cautious signal. On June 26, the COIN put-call volume ratio sat at 1.14, skewed heavily toward bearish puts, with open interest at 0.84. Since then, volume has eased to 0.96 while open interest climbed to 0.88.
COIN Put-Call Ratio: BarchartThat split is the interesting part. The falling volume ratio shows fresh call buying. Yet rising open interest points to traders hedging existing positions rather than turning outright bullish. The setup reads as mixed, not a clean reversal.
The chart adds nuance through timeframe. On the daily, CMF remains deep in negative territory. On the four-hour, however, CMF has started rising inside its falling channel, last at -0.14, a sign of building short-term inflows.
COIN Money Flow Recovery: TradingViewThat four-hour turn matters most for an event-driven trade. A break above the channel’s upper trendline would open a path back toward the zero line and a more sustained move. That move might also have an impact on the put-call ratio as the MiCA deadline approaches.
Robinhood Markets (HOOD)Robinhood rounds out the MiCA stocks to watch, and the liquidity angle sets it apart. It owns Bitstamp, which holds a MiCA license passportable across the EU. As roughly 83% of previously registered crypto firms exit the bloc, freed-up trading volume can route toward licensed venues like Bitstamp.
Options positioning leans bullish. On June 25, the HOOD put-call volume ratio sat at 0.43 with open interest at 0.63. Volume has since fallen to 0.35 while open interest ticked up to 0.64. As with Coinbase, the split shows fresh call buying alongside light hedging. Yet the lower volume ratio points to stronger directional conviction.
HOOD Put-Call Ratio: BarchartThe money flow is the standout. HOOD is the rare crypto-linked name whose CMF sits above zero, last at 0.05, holding a rising parallel channel since early February. The reading reflects Robinhood’s diversified brokerage model, which draws steadier institutional inflows than pure-play crypto stocks.
HOOD Money Flow Strength: TradingViewCMF has respected the channel support in early April and mid-May without testing the lower trendline, each time preserving the uptrend. A break below that trendline and the zero line would signal weakness. Until then, the structure stays constructive, helped by a roughly 12% gain over the past month. That makes HOOD the strongest positioned of the three.
A major stride was made in Europe’s regulated investment market with the launch of blockchain-based payment infrastructure. Coinbase and Spiko have collaborated to enable stablecoin payments for UCITS-structured investment funds. Thanks to this new arrangement, investors can now purchase or redeem fund shares much faster, eliminating the need to wait for traditional bank transfers.
Stablecoins make inroads into UCITS fundsAs part of the integration, Spiko’s EU Treasury Bill Money Market Fund and US Treasury Bill Money Market Fund now accept USDC and EURC stablecoins. These products have thus become among the first UCITS funds in Europe to offer stablecoin funding options. The new system particularly facilitates quicker transitions between regulated short-term public debt funds and digital assets for institutional investors.
Glossary: UCITS is a regulatory framework developed in the European Union to protect investors and ensure risk diversification in collective investment funds. This structure, which facilitates cross-border fund distribution, is widely used throughout Europe.
Investors can acquire fund units with USDC or EURC at any time, including weekends and public holidays, without waiting for regular bank working hours or settlement periods. According to company statements, when redeeming fund units, stablecoins can be transferred to wallets within minutes. This setup is expected to minimize the period during which capital remains idle during transaction processing.
Coinbase and Spiko emphasized that regulated financial products can operate in harmony with digital assets while maintaining full compliance with legal frameworks.
Base network and payment infrastructure highlightedThe payment infrastructure operates through Coinbase Payments, with transactions finalized on Coinbase’s Ethereum layer-2 network, Base. In addition, Coinbase provides both the required wallet infrastructure and payment tools needed for the process. The companies underlined that this model ensures the security and compliance standards that regulated financial markets expect remain intact.
Glossary: Base is a layer-2 Ethereum network developed by Coinbase. Networks of this kind are built to process transactions more quickly and at a lower cost than the main chain.
UCITS funds are among the most heavily regulated investment products in Europe and are widely used by both retail and institutional investors. Bringing stablecoin payments into this framework is being viewed as a significant step in connecting traditional finance and blockchain infrastructure.
Rising institutional interestThe move aims to resolve one of the biggest inefficiencies in traditional markets: slow settlement times. Investors’ ability to access their funds without waiting for standard trading cycles may improve cash management and reduce idle capital.
Citing a study by EY Parthenon, Coinbase highlighted that 88% of institutional investors see same-day, T+0 securities settlement as one of stablecoins’ main use cases.
The announcement comes at a time when institutional interest in blockchain-based settlements is rising. Coinbase CEO Brian Armstrong has also renewed his call to reform accredited investor rules in the US, arguing that the current system creates opportunities reserved solely for wealthy investors.
Meanwhile, a partnership established between global digital payments firm Checkout and Coinbase is expanding stablecoin acceptance for institutional clients. These developments further indicate the tightening link between traditional payment channels and blockchain-based settlement systems.
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.
Key HighlightsDollar-Denominated T-Bill Fund Activates USDC Payment ChannelEuro T-Bill Product Enables EURC Transaction CapabilityPartnership Advances Tokenized Investment Product Infrastructure Stablecoin payment integration launches for European UCITS Treasury bill funds
USDC and EURC enable fund subscriptions and withdrawal processing
Infrastructure provided by Coinbase Payments includes wallet, API, and settlement layers
Base layer-2 network facilitates efficient blockchain transaction settlement
Payment method addition maintains existing fund structure and regulatory framework
A collaboration between Coinbase and Spiko has introduced stablecoin payment functionality to European Union-regulated Treasury bill investment vehicles. Eligible investors can now utilize digital currency payment methods for entering and exiting two UCITS-compliant money market products. The development integrates Circle’s USDC and EURC stablecoins within established European regulatory frameworks for mutual funds.
Dollar-Denominated T-Bill Fund Activates USDC Payment Channel The US T-Bills Money Market Fund managed by Spiko has activated USDC acceptance through Coinbase Payments technology. This investment product delivers exposure to short-duration United States Treasury securities while operating within UCITS regulatory parameters. The payment infrastructure encompasses digital wallet functionality, transaction APIs, and backend processing systems supplied by Coinbase.
Transaction finalization occurs on Base, the layer-2 blockchain network developed by Coinbase. This technical architecture creates a bridge between onchain digital assets and traditionally regulated investment vehicles. The arrangement diminishes reliance on conventional banking hours and legacy payment processing systems that impose delays.
The innovation particularly serves corporate treasury operations requiring rapid reallocation between liquid assets and fund positions. Investors gain the ability to initiate subscription requests outside typical banking schedules, encompassing weekends and public holidays. Spiko emphasized that this development introduces an alternative payment channel without modifying the fund’s underlying operational structure or investment strategy.
Euro T-Bill Product Enables EURC Transaction Capability Spiko’s EU T-Bills Money Market Fund has implemented EURC payment acceptance utilizing identical Coinbase technological infrastructure. This fund adheres to UCITS regulatory requirements, which establish European Union benchmarks for investor protection and operational oversight. Coinbase characterized these products as pioneering European UCITS funds offering direct stablecoin payment acceptance.
Upon liquidation, redemption payments can transfer to designated stablecoin wallets in a matter of minutes. This capability provides treasury management teams with accelerated access to capital following position exits. The fund continues operating within its established regulatory guidelines governing subscription and redemption procedures.
This launch arrives during a period of robust UCITS market activity across Europe. According to EFAMA statistics, UCITS products attracted 104 billion euros in net capital inflows during April. This represented a significant reversal from the 41 billion euro net outflow recorded in March, while cumulative 2025 net sales have reached 828 billion euros.
Partnership Advances Tokenized Investment Product Infrastructure Coinbase positioned this collaboration as progress toward modernized payment systems for regulated investment products. Stablecoin-based payment networks can minimize operational friction when clients allocate capital to or withdraw from compliant financial products. The integration creates connectivity between blockchain-based settlement mechanisms and traditional mutual fund administration.
This framework does not transform the underlying investment vehicles into continuously operating products. Rather, it provides qualified investors with an additional funding mechanism for subscriptions and proceeds distribution. This differentiation carries significance because payment processing velocity and fund operational cycles function as distinct elements.
Additional asset management firms have explored comparable tokenized fund applications. WisdomTree secured regulatory authorization this year for continuous secondary market trading in a tokenized Treasury product. Franklin Templeton and Binance have similarly launched tokenized fund instruments available as institutional collateral in off-exchange environments.
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]
Binance Alpha will delist TTD, OIK, LUNAI, TOWN, VINU, PUP, CYPR, and DGRAM.
Per an official announcement, following a recent review, the below tokens fail to meet Binance Alpha’s criteria and will be removed from its recommended list on June 30, 2026, at 18:30 (UTC+8): TTD (TradeTide), OIK (Space Nation), LUNAI (Luna by Virtuals), TOWN (Alt.town), VINU (Vita Inu), PUP (PUP), CYPR (Cypher), DGRAM (Datagram Network).
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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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Circle just pulled a quarter-billion dollars worth of USDC off Ethereum and stamped out $910 million in fresh tokens on Solana. Think of it as moving cash between registers at a store, except the registers are blockchains and the cash is the second-largest stablecoin in crypto.
The net effect: a $660 million liquidity swing toward Solana.
How the burn-and-mint machine works Circle manages USDC supply through what it calls the Cross-Chain Transfer Protocol, or CCTP. The mechanics are straightforward: burn tokens on one chain, mint an equivalent amount on another. Every USDC in circulation is supposed to be backed 1:1 by cash and cash equivalents, so these operations don’t change the total supply. They just change where the tokens live.
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The $250 million Ethereum burn and $910 million Solana issuance fit a pattern that’s been accelerating throughout 2026. Earlier in June, Circle minted $1 billion USDC on Solana in a single day. Days before that, there was a $500 million Solana mint. The cumulative gross issuance on Solana has been approaching $57 billion for the year.
USDC’s total circulation sits at approximately $73.6 billion as of late June 2026. The stablecoin is now native on over 30 networks.
Why the migration matters The institutional angle has gotten more concrete this month. Circle expanded its partnership with BNY Mellon in June 2026, enabling direct mint and burn capabilities through the bank’s custody services. That means institutional clients can now create and destroy USDC without going through Circle’s standard pipeline.
What this means for investors For Solana, more USDC on the network means deeper liquidity pools, tighter spreads on decentralized exchanges, and more attractive conditions for both traders and protocol developers.
The BNY Mellon partnership adds another layer to consider. Institutional access to direct minting and burning means that large players can respond to market conditions faster than ever.
Tether’s USDT still dominates overall stablecoin market share, but USDC’s multi-chain expansion and emphasis on full reserve transparency have carved out a distinct institutional niche. The $73.6 billion in circulation represents significant ground gained.
The risk worth flagging: concentrated minting on any single chain creates dependency. If Solana experienced a significant outage or security event, having tens of billions of USDC sitting on the network would create redemption pressure that could test Circle’s operational capacity.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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Summary
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Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Key HighlightsUSDC Integration Launches on BNY’s Custody InfrastructureEnhanced Circle Collaboration Streamlines Institutional USDC OperationsFederal Stablecoin Framework Accelerates Institutional IntegrationGet 3 Free Stock Ebooks BNY shares climb following enhanced Circle collaboration for institutional USDC services.
Custody platform now supports USDC storage, creation and conversion functions.
Institutional investors gain integrated stablecoin access through BNY infrastructure.
USDC marks inaugural stablecoin offering on BNY’s digital custody system.
Collaboration advances traditional finance integration with blockchain payment rails.
Bank of New York Mellon (BNY) shares appreciated 1.41% to reach $145.58 following news of an enhanced collaboration with Circle focused on stablecoin infrastructure. The expansion integrates USDC capabilities into BNY’s Digital Asset Custody solution designed for institutional market participants. This development reinforces the bank’s growing footprint in blockchain-based financial services and digital currency custody operations.
Bank of New York Mellon Corp, BNY
USDC Integration Launches on BNY’s Custody Infrastructure BNY announced that USDC represents the inaugural stablecoin available through its Digital Asset Custody infrastructure. This platform enables corporate and institutional customers to securely store USDC within BNY-managed wallet systems. The integration establishes a streamlined pathway connecting traditional dollar holdings with blockchain-based digital assets.
Institutional participants can now direct Circle to generate USDC tokens from U.S. dollar deposits. Conversely, clients may convert USDC holdings back into fiat currency using identical institutional channels. Consequently, BNY creates operational continuity between stablecoin transactions and its established custody and treasury management functions.
This rollout extends BNY’s current position as the principal custodian holding USDC reserve assets. The service provides regulated entities with a compliant infrastructure for stablecoin safekeeping and blockchain transfers. Looking ahead, BNY intends to incorporate additional stablecoin providers and digital currency transaction capabilities.
Enhanced Circle Collaboration Streamlines Institutional USDC Operations Circle’s USDC token forms the foundation of BNY’s expanded digital asset offerings. USDC maintains its position as the second-largest dollar-pegged cryptocurrency measured by total value. Current market capitalization exceeds $73 billion according to data referenced in the partnership announcement.
The collaboration enables BNY customers to interact with USDC while remaining within the bank’s established operational ecosystem. This arrangement allows organizations to coordinate traditional currency and stablecoin holdings under a unified custody arrangement. Such integration may streamline entry points for companies exploring blockchain-powered payment and settlement infrastructure.
BNY and Circle maintain a longstanding relationship centered on USDC reserve management. The new custody capabilities represent a strategic evolution toward customer-facing product deployment. This initiative positions USDC within a prominent institutional custody environment operated by a major financial services provider.
Federal Stablecoin Framework Accelerates Institutional Integration This partnership expansion follows the 2025 enactment of the GENIUS Act within the United States regulatory landscape. This legislation established comprehensive federal guidelines governing dollar-backed stablecoins. The framework addresses reserve requirements, transparency standards and issuer supervision protocols.
Stablecoins maintain distinct characteristics from speculative cryptocurrency assets through value stabilization mechanisms. Dollar-denominated stablecoins typically maintain reserves comprising cash holdings and short-duration U.S. Treasury securities. Originally developed for cryptocurrency exchange activity, these instruments increasingly support cross-border payments, remittances and transaction settlement applications.
BNY manages approximately $59 trillion in custodial assets, maintaining its status as the globe’s largest custody banking institution. The firm’s stablecoin initiative demonstrates ongoing convergence between traditional financial infrastructure and blockchain-enabled market technologies. Industry counterparts including Standard Chartered and Citigroup have similarly forecasted substantial expansion within the stablecoin sector over coming years.
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]
Bitcoin infrastructure firm Breez has unveiled a major update to its developer toolkit, enabling users to send USDC and USDT stablecoins directly from their Bitcoin balances. The new feature supports over 30 blockchain networks, eliminating the previous need for users to hold stablecoins or convert Bitcoin in advance before making a payment.
Payments flow through the Lightning NetworkAccording to information shared by Breez, the system combines the Lightning Network with an automatic conversion mechanism. When a user initiates a payment, their Bitcoin is instantly converted into USDC or USDT and sent to the recipient’s chosen blockchain network.
Once the sender enters the recipient’s wallet address, the Breez SDK identifies the target network, calculates the optimal conversion route, and transparently displays the amount, network, and transaction fees before approval. The transaction is then processed by liquidity providers such as Flashnet and Boltz, who handle the conversion from Bitcoin to stablecoin and transfer the coins to the selected network.
Roy Sheinfeld clarified that there is no need to issue USDT or USDC directly on the Lightning Network. Thanks to interoperability, users can make payments from their Bitcoin balance, while recipients get stablecoins on any supported network.
Breez also emphasized that users continue to hold Bitcoin right up until the payment is executed. On the recipient side, there’s no need to manage a separate stablecoin balance—the funds are delivered in the chosen network seamlessly. The company stated that the new feature is non-custodial and, in the initial phase, only supports outgoing stablecoin payments. Incoming stablecoin transfers from outside blockchain networks are planned for a future update.
Mini glossary: The Lightning Network is a second-layer payment network operating on Bitcoin, designed for faster and lower-cost transactions. It routes transfers off-chain and later settles them on the main Bitcoin network.
Aims to reduce integration complexity for developersBreez developed this feature with a focus on developers, aiming to streamline stablecoin payment integration into applications without the hassle of connecting individually to each blockchain. This approach could allow users to manage both Bitcoin and stablecoin transactions from a single balance, minimizing complexity.
Renowned for its Bitcoin and Lightning-based payment infrastructure, Breez offers an SDK that lets developers embed Lightning functionalities directly into their products and services.
Lightning Network’s expanding use casesThe rollout comes at a time when startups are seeking broader financial and commercial applications for Bitcoin and the Lightning Network. In recent months, the network has been tested in scenarios well beyond small retail payments, demonstrating its scalability and utility.
In February, Secure Digital Markets, a provider of institutional trading and lending services, completed a $1 million Bitcoin payment to Kraken via the Lightning Network in under half a second—highlighting the protocol’s potential for large-scale corporate transfers.
That same month, Voltage introduced a revolving credit line integrated with Lightning payment flows, supporting settlement in US dollars. Meanwhile, event platform Satlantis launched a Bitcoin-focused ticketing system with built-in Lightning wallets. In March, Ark Labs, a Tether-backed Bitcoin infrastructure startup, secured $5.2 million in funding to develop technologies for stablecoin issuance, transfer, and settlement on the Bitcoin network.
Growth in Lightning Network adoption continues apace. As estimated by River in February, the network’s monthly transaction volume surpassed $1 billion by the end of 2025—a steep rise from approximately $12 million in 2021.
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.
BNY has expanded its Digital Asset Custody platform to let institutional clients store, transfer, mint and redeem Circle's USD Coin, making it the first stablecoin supported on the platform.
The new capabilities allow BNY clients to convert US dollars into USDC and redeem the stablecoin back into dollars directly through the bank while also storing and transferring USDC on its custody platform. BNY said it plans to expand the service to additional stablecoins and digital cash workflows over time.
The expansion builds on BNY's existing role as the primary custodian of the assets backing USDC, extending its relationship with Circle beyond safeguarding reserve assets to include client-facing stablecoin services.
According to BNY, the custodian bank oversees $59.3 trillion in assets under custody and administration and serves more than 90% of Fortune 100 companies. USDC is the world's second-largest stablecoin by market capitalization, with more than $73.8 billion in circulation, according to DefiLlama data.
In May, BNY partnered with Abu Dhabi-based Finstreet and the ADI Foundation to develop institutional custody services for Bitcoin (BTC) and Ether (ETH), with plans to later support stablecoins and tokenized real-world assets.
Source: DefiLlama
Traditional finance expands stablecoin infrastructureBNY's announcement is the latest in a series of stablecoin-focused products launched by major financial institutions in recent months, as traditional banks and asset managers expand services supporting reserve management, custody and blockchain-based payments.
In May, JPMorgan filed to launch a tokenized money market fund that would allow stablecoin issuers to hold reserve assets in a regulated investment vehicle while earning interest. The Ethereum-based fund is designed to invest in US Treasury bills and overnight repurchase agreements that back payment stablecoins.
Earlier this month, State Street launched a government money market fund for stablecoin issuers, offering a vehicle to hold reserve assets in compliance with the GENIUS Act. The fund invests in US government securities and repurchase agreements and counts State Street Bank and Anchorage Digital among its initial investors.
Other large financial institutions are pursuing stablecoin strategies as well. In July 2025, Bank of America said it was exploring stablecoins to modernize its payments infrastructure, while in January, Fidelity Investments launched a US dollar-backed stablecoin, FIDD, after receiving conditional approval to operate a national trust bank.
The stablecoin market is valued at approximately $313 billion, according to DefiLlama, with Tether's USDT accounting for about 60% of the market.
Source: DefiLlama
Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
BNY has expanded its Digital Asset Custody platform to let institutional clients store, transfer, mint and redeem Circle's USD Coin, making it the first stablecoin supported on the platform.
The new capabilities allow BNY clients to convert US dollars into USDC and redeem the stablecoin back into dollars directly through the bank while also storing and transferring USDC on its custody platform. BNY said it plans to expand the service to additional stablecoins and digital cash workflows over time.
The expansion builds on BNY's existing role as the primary custodian of the assets backing USDC, extending its relationship with Circle beyond safeguarding reserve assets to include client-facing stablecoin services.
According to BNY, the custodian bank oversees $59.3 trillion in assets under custody and administration and serves more than 90% of Fortune 100 companies. USDC is the world's second-largest stablecoin by market capitalization, with more than $73.8 billion in circulation, according to DefiLlama data.
In May, BNY partnered with Abu Dhabi-based Finstreet and the ADI Foundation to develop institutional custody services for Bitcoin (BTC) and Ether (ETH), with plans to later support stablecoins and tokenized real-world assets.
Source: DefiLlama
Traditional finance expands stablecoin infrastructureBNY's announcement is the latest in a series of stablecoin-focused products launched by major financial institutions in recent months, as traditional banks and asset managers expand services supporting reserve management, custody and blockchain-based payments.
In May, JPMorgan filed to launch a tokenized money market fund that would allow stablecoin issuers to hold reserve assets in a regulated investment vehicle while earning interest. The Ethereum-based fund is designed to invest in US Treasury bills and overnight repurchase agreements that back payment stablecoins.
Earlier this month, State Street launched a government money market fund for stablecoin issuers, offering a vehicle to hold reserve assets in compliance with the GENIUS Act. The fund invests in US government securities and repurchase agreements and counts State Street Bank and Anchorage Digital among its initial investors.
Other large financial institutions are pursuing stablecoin strategies as well. In July 2025, Bank of America said it was exploring stablecoins to modernize its payments infrastructure, while in January, Fidelity Investments launched a US dollar-backed stablecoin, FIDD, after receiving conditional approval to operate a national trust bank.
The stablecoin market is valued at approximately $313 billion, according to DefiLlama, with Tether's USDT accounting for about 60% of the market.
Source: DefiLlama
Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Coinbase launched Coinbase for Agents on June 11, a platform that lets AI systems like ChatGPT and Claude connect directly to user accounts to execute trades, manage portfolios, and make transactions using stablecoins. Users tell the AI what to do in plain English, set spending and risk limits, and the agent handles the rest. Coinbase’s stock rose over 3% on the news.
How it actually works Users can grant AI agents access to their Coinbase accounts with specific constraints: how much the agent can spend, what level of risk it can take, and which types of trades it can execute.
The platform supports both spot and derivatives trading, real-time market data access, and portfolio management. It’s accessible through both web interfaces and terminal-based setups.
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Transactions on the platform run on USDC, Coinbase’s preferred stablecoin, using something called the x402 protocol. This protocol is designed to enable machine-to-machine payments, essentially letting AI agents pay for services, data, or assets without a human intermediary approving each step.
Compliance follows the same framework as standard Coinbase accounts. The agents operate within user-defined guardrails, and Coinbase’s existing regulatory controls still apply.
The bigger picture: agentic finance Coinbase has been building toward this moment through a series of AI-focused products. First came AgentKit, which embedded crypto wallets directly into AI agents. Then came Agentic Wallets, purpose-built for autonomous trading and spending. Coinbase for Agents connects those autonomous capabilities to the full suite of Coinbase’s exchange infrastructure.
Alongside the agents platform, Coinbase also rolled out Coinbase Advisor, an in-app AI that provides personalized recommendations to users.
Coinbase is calling this broader trend “agentic finance.” Analysts have projected that autonomous agents could drive as much as 20% of all e-commerce by 2030.
What this means for investors Coinbase has hinted at future expansions beyond crypto, with potential support for equities and commodities trading through the agents platform.
By routing agent transactions through USDC, Coinbase is creating a new demand driver for its stablecoin. Every AI agent that needs to make a payment or execute a trade on the platform needs USDC to do it.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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.
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)
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.
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)
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.
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)
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
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
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.
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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