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Hyperscale Data established a new subsidiary to independently operate mining, and Reap plans to launch multi-national local currency stablecoins to facilitate 24/7 foreign exchange clearing

According to BBX data, yesterday, publicly listed companies in the U.S. and cross-border financial infrastructure disclosed the latest developments in the restructuring of cryptocurrency businesses and global compliance stablecoin settlements. The core information is as follows:Hyperscale Data (NYSE: $GPUS) established a subsidiary, Patriot BTC, to independently undertake mining operations and assets: Nasdaq-listed Bitcoin mining company and AI data center infrastructure company Hyperscale Data officially announced the establishment of a new wholly-owned subsidiary, Patriot BTC. The purpose of this subsidiary is to hold and operate the company's cryptocurrency mining business, mining machines, and related on-chain assets as a completely independent business entity, in order to further optimize the overall asset structure of the parent company and align with the implementation of the AI computing power center strategy.Reap plans to launch multi-national local currency stablecoins to build a 24/7 on-chain foreign exchange trading network: The multinational payment technology platform Reap, which has received strategic support from Kraken's parent company Payward and is a core partner of Visa, announced plans to successively launch local currency stablecoins in multiple countries and regions to achieve 24/7 on-chain foreign exchange settlements. Reap will first launch the Mexican Peso (MXN) stablecoin and is accelerating the exploration of issuing various local currency stablecoins, including the Hong Kong Dollar (HKD), Euro (EUR), South Korean Won (KRW), and Japanese Yen (JPY). This layout aims to completely break the physical limitations of traditional commercial bank operating hours, providing multinational companies with efficient and low-friction on-chain cross-border foreign exchange clearing solutions during nighttime and weekends.

first_img Visa partner Reap plans to launch a Mexican Peso stablecoin, exploring 24/7 on-chain foreign exchange

According to CoinDesk, Daren Guo, founder of Reap, a Hong Kong fintech platform and Visa partner, stated that Reap plans to add a Mexican peso stablecoin to its card, cross-border payment, and fund management products, and is exploring stablecoins for the Hong Kong dollar, euro, Korean won, and Japanese yen to support around-the-clock on-chain foreign exchange settlements and reduce cross-border costs.Reap is a major issuing member of Visa in Hong Kong and Mexico (VPIM), owned by Kraken's parent company Payward, and can issue cards on its own BIN, claiming to support partners in over 100 markets. Guo noted that while public blockchains continue to operate, global foreign exchange still relies on bank operating hours, correspondent banks, and settlements that can take several days. Transfer fees for some currency corridors in emerging and cross-border markets can reach 5% to 7%, while nearly 99% of current stablecoin payments are denominated in US dollars.The company is integrating stablecoin settlements into a broader product system that includes cards, cross-border payments, fund management, and compliance risk control. Reap stated that in the first half of 2026, card and payment volumes grew by 33% year-on-year, with revenue and transaction volume expected to double in 2025. Stephen Karpin, President of Visa Asia Pacific, stated that blockchain settlement should not be viewed as a replacement for traditional payment systems, but rather as a complementary relationship, with opportunities to reduce friction and maintain interoperability with the broader financial system.
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