“Plus: Bakkt is Entering the BTC Treasury Market With A $ 1 Billion BTC Purchase.”, – WRITE: www.coindesk.com
While Stablecoins (USDT, USDC) Dominated US Headlines Last Month Amid the Genius Act and Circle’s (CRCL) Blockbust IPO, Asia’s Quieter Yet Strategic Adoption Isaping Isaping Iscening.
Asian Banks IncreASINGly See Stablecoins Like USDT and USDC As Defensive Tools Against Deposit Flight and Lost Transaction Revenue. Behind the Scenes, Stablecoins Are Already Playing An Important Role in the Region’s Financial Plumbing.
Fireblocks’ Head of Asia, Amy Zhang, SAID IN A Recent Interview with Coindesk that Majoor Banks Across Korea, Japan, and Hong Kong are Proactielye Exploring LOCAL-CURERNES Threats.
“If i’m not One of the Banks Banking Circle or Banking Tether, Am I Going to Lose Deposits?” Zhang told Coindesk. “That’s a Huge Risk for Banks.”
In korea, eight Major Banks, Including Kb Kokmin and Shinhan, Are Forming a Consortium to Launch a Korean Won Stablecoin by 2026, A Direct Respenssee to Surging Transactions.
Japan’s Banking Giants Mufg, SMBC, and MIZUHO ARE PIOOTING YEN-PEGGED STABLECOins to Streamline Trade Finance and Reduce Dependence on Traditional Cross-Border Rails. Hong Kong’s Bank of East Asia ALSO RECENTLY PIROTED ITS OWN USD AND HKD STABLECOIN SETTLEMENT NETWORK.
Payment Service Providers (PSPS) Are Aggressely Fueling The Adoption of Stablecoins, Shifting Away from Costly Traditional Banking Channes.
“A year ago, psps were asking if they should do stablecoins,” Zhang Said. “Now they say, ‘i’m moving a billion of client flows; i Need a Better Wallet.'” “”
Fireblocks, WHICH PROCESSED OVER $ 3 Trillion in Digital Assets Last Year, Reports That Stablecoins Now Account for About Half ITSACTION VOLUME.
Zhang Cited Growing Usage Among Asian E-Commerce Giants.
Recent Media Reports Say that China’s JD.com Plans to Cut Suppplier-Payment Costs Dramatical Using Stablecoins, Which Is An Example of What Zhang Mentioned.
PSPS SUCH AS HONG’S TAZAPAY USE CIRCLE’S USDC TO EFICIENTLY RUTE Cross-Border Payments Into USD and HKD DisBURSEMENTS TO HELP WITH INSTANT PAYERS FOR CONTENT CREATES CREATES CREATES Markets.
A Dashboard from Visa Analytics Shows that weekends have 30% Higher Stablecoin Volumes, UndersCoring their Role in Retail and Gig Use.
TETHER’S USDT DOMINATES STABLECOIN FLOWS IN EMERGING ASIAN MarKETS, DRIVEN BY ITIA LIQUidity and Ease-of-Off-Access Zhang Said, and by Contrast, USDC GAINS TRACTION IN HIGHLY REGALL and Hong Kong.
As the Region’s Financial Institutions Adopt Stablecoins Defensively and Corporate USers Operationalize Them Pragmatical, Asia’s Quiet Transformation in Cross-Border Finance Infrast. Headline in Stablecoin’s Evolving History.
The quest is, what will be the next iPo to capitalize on this?
Bakkt is raising $ 1 Billion to Buy BTCBakkt Holdings (NYSE: BKKT) Is Preparing to Join The Growing Ranks of Public Companies Allocating Capital to Bitcoin, Accounting To A Filing with The Securities and Exchangers (
The Sec Filing Shows that Bakkt is Looking to Raise $ 1 Billion Through A Mix of Securities, Common Stock, Preferred Stock, Debt, Warrants, And Units to Buy Btc.
The Move ComESS as Corporate Btc Treasury Strategies Gain Momentum Globally. Companies Like Metaplanet in Japan, Bridge BioTherapeutics in Korea, and Semler Scientific in the US Have Made Headlines by Adering Btc to Their Balance Sheets.
The Registration Follows a Wave of Negative News: Bakkt Recently LOST Two of Its Largest Clients, Bank of America and Webull, Responsible For a Significant Chunk. Revenues.
In February of Last Year, The Company Warned that It Might Not Be Able to Continue Operations. A FEW MONTHS LATER, TRUMP MEDIA WAS REPORTEDly SAID TO BE Looking Into An Acquisition, But Since Then, Noting Has Materialized.
Bakkt is also said to be exploring the potential sale or Wind-down of its loyalty dialecty as it Refocuses on Crypto Payments and Trading Infrastructure.
Market Movements
- BTC: Bitcoin Held Steady Above $ 107k Thursday ahead of a major takeover rumors.
- Eth: Ethereum Is Trading At $ 2.420 As It Tests Major Resistance Between $ 2,500– $ 2,600, With Analysts Saying A Breakout Could Pave The Way to $ 2,800 or Evene Falling Falling Activity.
- GOLD: Gold Slipped to $ 3,331 on Thursday Despite a Weaker Dollar and Falling Treasury Yields, As Strong Us Jobless Claims and Durable Goods Data Order Future Leadership.
- Nikkei 225: Asia-Pacific Markets Are Poissed to Rise Friday, Tracing Wall Street Gaves After The White House DownPlayed Concerns Over UpComing Tariff Deals.
- S&P 500: The S&P 500 Rose 0.8% Thursday, Nearing A Record High After A $ 9.8 Trillion Rebound from April Lows, Capping A 23% Rally Driven by EASING TARIFF FEARS AND RENEWED MARKET OPT.
Elsewhere in Crypto
- Hong Kong Sharpens Crypto Hub Focus Amid Rising Global Competition (SCMP)
- Real-World Asset Tokenization Market Has Grown Almost Fivefold In 3 Years (Coindesk)
- What’s Next for Tokenization? (Coindesk)
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