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first_img Coinbase collaborates with Moov to provide stablecoin infrastructure for community banks

According to Cointelegraph, cryptocurrency exchange Coinbase has partnered with financial platform Moov to provide stablecoin infrastructure for over 1,000 community banks and credit unions within Moov's customer base. The two parties will combine Coinbase's regulated digital asset infrastructure with Moov's payment platform to offer stablecoin payment acceptance, settlement, and real-time funding services.This infrastructure will support use cases such as consumer stablecoin payments, merchant settlements, and payments, and will provide businesses and merchants access to Coinbase's custodial accounts. U.S. community banks typically have total assets of less than $10 billion, including state-chartered institutions and savings and loan holding companies.This collaboration comes as major U.S. banks are experimenting with stablecoin infrastructure. On Wednesday, U.S. Bank, the fifth-largest commercial bank in the U.S., completed a real-time cross-border payment using its proprietary stablecoin USBDC on the Stellar blockchain. Earlier this month, 21 financial institutions, including Bank of America, Citigroup, Goldman Sachs, Deutsche Bank, and UBS, announced plans to form a company to issue stablecoins. Additionally, Western Union also partnered with stablecoin infrastructure provider Rain in August to launch a digital wallet and Visa-branded card.

first_img Coinbase CEO stated that a price of $400,000 for Bitcoin by 2030 is still a reasonable target

According to Decrypt, Coinbase CEO Brian Armstrong stated in an interview with CNBC Squawk Box Asia that a Bitcoin price of $400,000 by 2030 is still a "reasonable goal," despite the current BTC price being around $77,000. He cited the four-year cycle pattern of Bitcoin, noting that the current downturn has lasted about a year, and said, "I personally believe that the bottom of this cycle for Bitcoin has already occurred." He also mentioned that typically there is a price increase before Bitcoin halving, which is expected to occur in about 18 months, stating, "The next one or two years will be a good time for Bitcoin."On the regulatory front, Armstrong is more optimistic about progress in Washington. The U.S. Senate will vote on the Clarity Act on September 15, and he stated that the bill is "ready to pass," with support from law enforcement agencies, several banks, and crypto companies, and the objections previously raised by Coinbase have been resolved. The remaining disagreement concerns the ethical rules regarding the president's family's crypto business, and negotiations are close to reaching a solution. Armstrong expects that regardless of whether the bill passes, there will be regulatory clarity within a month, as the SEC and CFTC have indicated they are ready to issue rules and innovation exemptions based on existing authority.He also cited last year's Genius Act as an example, stating that within three months of the bill's passage, over 150 large companies integrated stablecoins. If the Clarity Act passes, U.S. customers will be able to access tokenized stocks and perpetual contracts.

Bitget has integrated with the official Nasdaq data source, becoming the first cryptocurrency platform in the industry to adopt this standard

According to official news from Bitget, Bitget has completed a comprehensive upgrade of its U.S. stock product market data source, officially connecting to the Nasdaq official data source, becoming the first cryptocurrency trading platform in the industry to adopt this data standard. Compared to the previous data model, Nasdaq official data can provide users with more accurate and timely market data, and maintain better price stability and continuity during periods of significant market fluctuations.To further ensure data quality, after connecting to the official data, Bitget has established a multi-layered assurance mechanism based on the official metadata, including data processing, real-time monitoring, quality comparison, simulation validation, and anomaly data filtering. Nasdaq, as a core data service provider long adopted by global financial markets, has had its data standards validated over many years in the traditional financial sector.This upgrade also marks a further deepening of Bitget's global asset trading infrastructure development. As the trading categories gradually expand from digital assets to global assets such as U.S. stocks, the platform will continue to enhance its underlying data, liquidity, and risk management capabilities, and introduce more mature institutional-level market standards to provide individual investors and institutional clients with a more stable and efficient cross-market trading experience, continuously enhancing the comprehensive competitiveness of its Universal Exchange (UEX).

Former Deputy Governor of the Bank of England Jon Cunliffe has joined blockchain payment company Fnality and serves as the Chairman of the UK entity

According to Bloomberg, Jon Cunliffe, the former Deputy Governor for Financial Stability of the Bank of England, has joined the blockchain payment company Fnality and will serve as the Chairman of its UK entity. Jochen Metzger, the former Director General for Payment and Settlement Systems of the German central bank, has been appointed as a member of the Supervisory Board of Fnality Europe and is expected to serve as its Chairman; Ron Berndsen, the former Head of Supervision and Head of Market Infrastructure Policy at the Dutch central bank, will also join the Supervisory Board.Fnality operates a wholesale payment system that allows banks to settle debts using central bank currency balances. Its pound sterling system, regulated by the Bank of England, went live in 2023 and is currently seeking regulatory approval to launch versions in US dollars and euros. Fnality states that the system is designed to support the tokenized trading of traditional assets such as stocks and bonds, enabling the synchronized flow of securities and payment funds across interconnected digital networks, thereby shortening settlement times and supporting round-the-clock trading. Fnality was established in 2019, with investors including major financial institutions such as Goldman Sachs, UBS Group, Santander Bank, Bank of America, and Citigroup.

Strive's preferred stock scale approaches 1 billion USD, Gemini approved for full MPI license in Singapore

According to BBX data, global listed treasury, well-known exchanges, and cross-border clearing platforms disclosed the latest updates yesterday, with the core information as follows:Strive's preferred stock SATA approaches $1 billion, holding over 24,500 coins: The perpetual preferred stock SATA issued by Strive (NASDAQ: $ASST) has a market value nearing $1 billion. Currently, Strive's balance sheet holds a total of 24,531 Bitcoins (worth approximately $1.96 billion). Thanks to an annualized dividend yield of up to 13%, SATA demonstrates strong financing capabilities, helping the company continuously raise funds to allocate BTC. In contrast, the similar preferred stock STRC under another treasury giant Strategy has an annualized dividend yield of 12%, but its secondary market trading price has consistently underperformed its par value, failing to return to the $100 benchmark since May of this year.Gemini obtains a Major Payment Institution license from the Monetary Authority of Singapore (MAS): Cryptocurrency exchange Gemini officially announced that its Singapore entity, Gemini Digital Payments Singapore, Pte. Ltd. (GDPSPL), has successfully obtained a Major Payment Institution (MPI) license officially issued by the Monetary Authority of Singapore (MAS). After approval, Gemini will be allowed to compliantly provide digital payment tokens (DPT) and compliant cross-border remittance clearing services within Singapore, further solidifying its compliance center layout in the Asia-Pacific region.OSL Group partners with Waka to facilitate stablecoin settlements for trade corridors between Africa and the world: Hong Kong-listed stablecoin payment and trading platform OSL Group (00863.HK) announced a deep cooperation with the payment platform Waka, which connects emerging market liquidity and clearing networks. OSL will deeply integrate institutional-level infrastructure covering stablecoin to USD and USD-native payment capabilities into Waka's clearing system, focusing on empowering seamless cross-border clearing and corporate settlement needs for major trade corridors between Africa and the world.
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