circle

OKX founder and CEO Star posted that he welcomes Circle, Ripple, and SC Ventures as investors in OKX. OKX is not raising funds due to financial needs but is choosing to bring in strategic partners who share a long-term vision consensus with OKX in areas such as stablecoins, payments, institutional markets, and next-generation financial infrastructure.ChainCatcher previously reported that, according to Bloomberg, the cryptocurrency exchange platform OKX completed a new round of financing with a valuation of $25 billion, with existing partners and hedge fund Qube Research & Technologies participating in the investment.OKX stated that Circle Internet Group, Ripple, and SC Ventures, the investment arm of Standard Chartered Bank, all participated in this round of financing. OKX declined to disclose the specific amount of financing but indicated that this round is an extension of the financing from March of this year. At that time, the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), invested approximately $200 million in OKX at the same $25 billion valuation.

According to Bloomberg, cryptocurrency exchange platform OKX has completed a new round of financing with a valuation of $25 billion, with existing partners and hedge fund Qube Research & Technologies participating in the investment.OKX stated that Circle Internet Group, Ripple, and SC Ventures, the investment arm of Standard Chartered Bank, all participated in this round of financing. OKX declined to disclose the specific amount of financing but indicated that this round is an extension of the financing from March of this year. At that time, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, invested approximately $200 million in OKX at the same valuation of $25 billion.

Payment infrastructure company Modern Treasury has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Modern Treasury National Trust Bank, operating as a federally regulated limited-purpose national trust bank, providing digital asset custody and related fiat services.If the application is approved, the bank will allow Modern Treasury customers to custody and transfer stablecoins and fiat through integrated services, but it will not issue stablecoins or provide loans. Modern Treasury co-founder and CEO Matt Marcus stated that stablecoins are the foundational economic infrastructure of the future, and the company has fully integrated stablecoins into its payment platform.Modern Treasury stated that the proposed bank will operate separately from its existing payment business, which has processed over $600 billion in payments among hundreds of institutions. This application comes at a time when crypto and payment companies are competing for national trust bank licenses, with Bastion and Ripple having received conditional approvals, Circle and BitGo having received final approvals, and Kraken's parent company Payward, Zerohash, and Block also having submitted applications.

According to SolanaFloor monitoring, Circle has minted approximately 2.75 billion USDC on Solana in the past 7 days.

Circle, the issuer of USDC, submitted a proposal to the European Commission advocating for the revision of the rules regarding overseas stablecoins in the Markets in Crypto-Assets Regulation (MiCA) and the establishment of a recognition mechanism for overseas issuers. Circle suggested that overseas stablecoin issuers should primarily be regulated by their home jurisdiction's regulatory authorities, and after obtaining equivalence recognition from relevant parties and the European Banking Authority (EBA), local licensed entities in the EU would be responsible for distribution.This mechanism also allows euro stablecoins to circulate in overseas jurisdictions. Circle also requested the removal of the requirement for electronic money token issuers to hold 30% of reserve assets in commercial banks; the proportion for "significant" electronic money tokens is 60%. The company believes that this requirement increases exposure to credit risk and counterparty risk in the banking sector.

Circle disclosed that it has responded to the European Commission's targeted consultation on MiCA. Circle stated that MiCA has provided a first-mover advantage for Europe, with approximately 30 types of electronic currency tokens authorized. However, among the top 25 stablecoins by global market capitalization, only 3 are regulated by MiCA, namely USDC, USDG, and EURC, indicating a gap in the regulatory scope of MiCA that fails to cover the largest global tokens.Circle suggests maintaining a multiple issuance structure, where globally circulating stablecoins are jointly issued by EU entities authorized under MiCA and foreign regulatory entities. It also recommends establishing an equivalence and recognition system for foreign regulatory stablecoins similar to EMIR, CSDR, and MiFIR, with the regulatory authority of the issuer's jurisdiction primarily responsible for supervision, while the EU level conducts equivalence recognition and EBA entity approval. Regarding reserve requirements, Circle believes that MiCA's requirement for issuers to deposit at least 30% of reserve assets in commercial bank deposits will increase bank credit and counterparty risk, supporting the European Central Bank to reconsider this requirement, and suggests removing two concentration rules from the EBA technical standards.

According to Whale Alert monitoring, the USDC Treasury address minted 250 million USDC on the Solana chain, worth approximately 250 million USD.

On-chain data shows that at 9:37 AM Beijing time today, USDC Treasury minted an additional 250 million USDC on the Solana network.

Circle has partnered with payment technology company Volante Technologies to integrate USDC-related workflows into Volante's existing payment platform. Financial institutions can incorporate stablecoin payments and settlements into their existing systems without having to build a separate digital asset technology stack.Volante's clients include four of the top five corporate banks globally and seven of the top ten banks in the United States. These institutions will be able to evaluate processes such as USDC minting, redemption, wallet registration, fund injection, and inter-wallet payments, and use them in parallel with existing payment rails.

Stablecoin issuer Circle Internet Group (NYSE: CRCL) disclosed in an 8-K filing submitted on September 25 that co-founder P. Sean Neville has resigned from the board for personal reasons, effective immediately, reducing the board size from 8 to 7 members.On the same day, Chief Financial Officer Jeremy Fox-Geen notified the company of his intention to resign, but will remain until the end of 2026 to assist with the transition. Circle has engaged an executive search firm to find successors. The company stated that the departures of both individuals were not due to disagreements regarding the company's operations, policies, or practices.

Stablecoin issuer Circle is hiring a "Senior Director, Ecosystem Growth, South Korea" in South Korea, responsible for developing market entry strategies, tracking regulatory dynamics, and establishing partnerships within the domestic financial and digital asset industry.The position requires candidates to have over 13 years of business development experience, familiarity with stablecoins, DeFi, and institutional financial liquidity, and fluency in both Korean and English. Circle previously stated that its strategy in South Korea is not to directly issue a Korean won stablecoin, but to collaborate with local Korean won stablecoin issuers to provide infrastructure connecting to the US dollar stablecoin.

On-chain data shows that at 5:42 and 11:04 Beijing time today, USDC Treasury minted a total of 250 million USDC on the Solana network, bringing the total minting today to 500 million USDC in two instances.

According to The Block, Circle's Chief Financial Officer Jeremy Fox-Geen plans to step down after more than five years in office, with an expected departure by the end of December, unless the company identifies a successor earlier. Circle stated that it has engaged an executive search firm to initiate the recruitment process for a new CFO.

Stablecoin issuer Circle's Chief Financial Officer Jeremy Fox-Geen will step down at the end of this year, and the company has begun the search for his successor.According to the disclosed departure agreement, Fox-Geen will receive a conditional cash payment of $1.05 million.

The Circle Foundation announced two grants to the United Nations Development Programme (UNDP) and the World Food Programme (WFP) to explore the application of digital payments and digital financial infrastructure in humanitarian aid and development projects.The Circle Foundation stated that the relevant programs will study how to utilize digital payments and regulated payment-type stablecoins to disburse funds to aid recipients more quickly, transparently, and at a lower cost.For the UNDP, the grant will be used to establish and operate a "Digital Asset Innovation Pool," helping country offices expand previous digital payment pilot projects conducted in Syria, Haiti, Guatemala, and Gambia from single projects to regular project execution, and provide support such as regulation, operations, and beneficiary protection; this mechanism will not replace traditional banking channels but will serve as a complementary option outside the existing payment system.For the WFP, the grant will support the establishment of governance, risk management, funding, reconciliation systems, and compliance tools necessary for stablecoin payments, and integrate local fintech and mobile payment services. Over the next three years, the WFP plans to test 2 to 3 payment channels connecting its payment system with local financial service providers and markets to assess the performance of stablecoin payments in terms of efficiency, transparency, and resilience.

According to on-chain data, Tether has successfully frozen 218,000 USDT in the stolen address from Bitget, which is a "three-hop" associated address of the initial stolen address from Bitget. This address remained inactive for over 2.5 hours after being discovered.Crypto KOL tanuki42 initiated a tracking of "Circle vs Tether" at that time and asked which of the two companies would freeze the related assets first.Currently, Circle has frozen the related stolen assets 7 hours and 18 minutes earlier than Tether.

According to on-chain analyst tanuki42, the address 0xe07 holds 100,000 USDC and 218,000 USDT, which come from the initial address of stolen funds from Bitget. This batch of funds has been idle for over 2.5 hours, after which they publicly called on Circle and Tether to freeze the assets.At 5 PM, crypto researcher SomaXBT posted that Circle has frozen the USDC assets and specifically called on Tether to follow up. As of the time of publication, Tether has not responded.

Circle co-founder and CEO Jeremy Allaire posted on the X platform, citing an official tweet from Arc Chain, stating that one week after its launch, the on-chain asset scale (USDC and cirCTC) has achieved a breakthrough from 0 to 700 million dollars; the USDC trading volume has surpassed 7 billion dollars.

The public chain Arc officially announced that Circle's on-chain foreign exchange engine StableFX has now launched on the Arc mainnet. Arc is the public chain launched by Circle, aimed at stablecoins and payment scenarios.The global foreign exchange market has a daily trading volume of nearly 10 trillion USD, most of which still relies on traditional trading hours. StableFX supports round-the-clock settlement, allowing for near-instant or delayed settlement, where both parties can either receive funds simultaneously or not at all to reduce settlement risk. A single contract can trade with multiple vetted counterparties and obtain pricing through a unified RFQ model.