UpGate

Author: Admin_Up

  • Cardano’s Scaling Testnet Goes Live, Network Unfazed at $0.148

    Cardano’s Scaling Testnet Goes Live, Network Unfazed at $0.148

    Cardano’s Price Stagnates Despite Major Scaling Testnet Launch

    Cardano (ADA) is currently trading around $0.1480, a 1% dip over the past 24 hours. This price point places it approximately 95% below its September 2021 all-time high of $3.09, a significant decline that has not gone unnoticed by investors.

    Scaling Milestone Met with Indifference

    The Leios Musashi Dojotestnet, a significant step forward in Cardano’s scaling efforts, went live on June 23. However, the network’s activity showed little immediate impact. Daily transactions remained close to 25,000, consistent with the three-month average. Active staking addresses, meanwhile, reached a 120-day low of around 5,000 on June 21, down from the typical 7,000–8,000 range.

    A notable surge in transactions occurred on June 4–5, with daily volume exceeding 60,000. This spike, however, coincided with a sharp sell-off, suggesting liquidation activity rather than new user adoption.

    Sentiment Dampened by Leadership Concerns

    Public statements from Charles Hoskinson, Cardano’s co-founder, regarding potential “ecosystem failures” and temporary project pauses have contributed to negative sentiment. These comments, coupled with governance challenges such as backlash over a Discord migration proposal and calls for leadership changes, have pushed ADA below the $0.20 mark for the first time since 2020. This layer of uncertainty extends beyond what technical analysis alone can account for.

    Broader Market Pressures Compound Weakness

    The current altcoin market environment further exacerbates Cardano’s precarious position. Bitcoin (BTC) has seen a softening, persistent macroeconomic headwinds continue to weigh on markets, and there has been aggressive capital rotation out of mid-cap altcoins. The central question for ADA holders is whether the cryptocurrency’s current tight trading range will resolve into capitulation or continuation.

    Technical Outlook: A Tight Range

    Technically, ADA’s price is compressed, consolidating between support at $0.148 and resistance at $0.172. This narrow band follows a sharp decline from the $0.20 to $0.25 range. The market capitalization stands near $5.58 billion, with a circulating supply of approximately 37.24 billion ADA. While even modest buying pressure could influence ADA’s price at this level, sustained volume remains absent.

    Should the $0.14 support level hold, and if exchange outflows continue to indicate accumulation pressure, coupled with a broader market shift towards risk-on assets that lifts altcoins, ADA could retest $0.172 and potentially reach $0.20 on momentum.

    If neither bullish nor bearish forces gain dominance, ADA may trade sideways throughout the summer within this corridor. The projected 2026 mainnet launch for Leios could serve as a longer-term catalyst, potentially keeping capitulation buyers engaged but limiting near-term upside potential.

    A breakdown below $0.148 on significant volume would signal a weaker technical picture, with the next meaningful support level considerably lower. Such a move would represent a structural break from multi-year support, decisively shifting the chart narrative to negative.

    Divergence Between On-Chain and Exchange Activity

    A key point of tension lies in the divergence between exchange outflows and on-chain engagement. While buyers appear to be present at current price levels, they are not yet actively building on the network. This gap needs to be bridged for any recovery to gain substantial credibility.

    The $0.148 level is critical and warrants close observation, as it is currently performing significant structural work for the price action.

    Risk-Reward Debate and Shift to Early-Stage Projects

    The risk-reward profile for ADA at its current levels is a subject of genuine debate. Even in a bullish scenario, recovering to previous cycle highs from $0.15 would require capital inflows that the broader altcoin market has not seen in months.

    This calculus is prompting some active traders to shift their focus to earlier-stage projects where entry price asymmetry remains more favorable, before a project reaches the liquidity constraints associated with a $5 billion market capitalization.

    Emerging Presale Opportunities

    One such presale attracting attention is Maxi Doge ($MAXI), built on Ethereum (ERC-20). The project positions itself within a meme-first trading culture, emphasizing high leverage, viral marketing tactics, holder-exclusive trading competitions with leaderboard rewards, and a Maxi Fund treasury dedicated to liquidity and partnerships. Its tagline, “never skip leg-day, never skip a pump,” appears calibrated for its target audience.

    Maxi Doge has raised $4,811,876.93 at a current presale price of $0.0002825, offering dynamic staking APY. The Dogecoin cycle serves as a historical reference point for the dynamics of meme coin launches.

    Investors are reminded that presales carry inherent risks, post-launch liquidity is not guaranteed, and meme token markets can be unforgiving if momentum falters. Thorough due diligence is advised before committing capital.

  • Strategy’s MSTR, STRC Plunge to 52-Week Lows

    Strategy’s MSTR, STRC Plunge to 52-Week Lows

    Strategy’s MSTR and STRC Crash to 52-Week Lows

    Shares of MicroStrategy (MSTR) and its preferred stock (STRC) plummeted to 52-week lows on Wednesday, signaling a real-time stress test for the treasury model pioneered by Michael Saylor.

    MSTR fell 9.35% to $94.13, hitting an intraday low of $92.28, a dramatic decline from its 52-week high of $457.22. STRC, the dividend-paying preferred stock that Saylor has utilized to finance Bitcoin purchases, dropped 7.41% to $80.84. This also marked a 52-week low and pushed the stock well below its $100 par value. Bitcoin itself briefly dipped to $59,200 during the broader market selloff before recovering to $61,000 following strong earnings from Micron. Both MSTR and STRC saw modest rebounds in after-hours trading.

    The central question now is whether this reckoning is reaching its peak, and if so, when. A $300 million cash raise on Monday was intended to stabilize STRC, yet the stock printed a new low just three days later. This suggests the market remains unconvinced that cash alone can resolve the underlying issues. The deeper concern is a potential “doom loop”: as MSTR’s stock price falls, Saylor has less collateral to purchase Bitcoin or raise funds to service his debt, although his current cash reserves cover approximately 10 months of obligations.

    Some analysts believe Saylor should consider selling a significant portion of the company’s Bitcoin holdings to reset its financial position. Others speculate that large Bitcoin holders, or “whales,” may be actively attempting to destabilize Saylor’s position and drive down BTC prices to force his hand. The exact mechanics at play are unclear, but the volatile ride is far from over.

    Kalshi Targets a $40 Billion Valuation as Sports Betting Drives Volume

    Kalshi, the financial exchange, is reportedly in discussions to secure new funding at a valuation of approximately $40 billion, according to a report by the Financial Times. This figure represents a near doubling of its $22 billion valuation from a $1 billion funding round closed just three months ago in April.

    This significant valuation jump is attributed to a surge in trading volume, which exceeded $17 billion last month and is on pace to surpass $25 billion in June. This is a substantial increase from under $5 billion a year prior, with sports-related contracts accounting for roughly 65% of the total volume. For context, Kalshi has already facilitated over $5 billion in trading volume related to the World Cup, with the tournament not yet at its halfway point.

    While sports betting has been a major growth driver, Kalshi’s expansion is not solely reliant on this sector. Its cryptocurrency markets have also seen remarkable growth, evolving into a $1 billion per week market segment, a twentyfold increase since December 2025. The platform is also introducing legal perpetual futures contracts, which are expected to further boost trading volumes. Overall, Kalshi boasts nearly three times the open interest of Polymarket across all market sectors, with $1.1 billion compared to Polymarket’s $484 million.

    This rapid growth has also led to a substantial increase in fees. Last June, Kalshi generated $8 million in fees. This June, the platform had already cleared $180 million with five days remaining in the month, putting its first-half 2026 fees over $800 million, with month-over-month growth projected between 10-20%. At this trajectory, the $40 billion valuation may prove to be conservative by year’s end.

  • Europol Freezes $47M in Crypto in Global Infostealer Bust

    Europol Freezes $47M in Crypto in Global Infostealer Bust

    Global Crackdown Freezes Millions in Stolen Crypto Assets

    A sweeping international law enforcement operation targeting “cybercrime-as-a-service” malware has successfully frozen tens of millions of dollars in cryptocurrency stolen from unsuspecting victims.

    In the latest phase of “Operation Endgame,” authorities identified, flagged, and seized over €41 million (approximately $47 million) in illicit crypto assets, Europol announced Wednesday. The two-week, multi-national effort dismantled the underlying infrastructure of three prominent malware families: SocGholish, Amadey, and StealC.

    All three malware strains are designed to target cryptocurrency users. StealC, an infostealer marketed as a service since 2023, is adept at extracting passwords, browser cookies, and cryptocurrency wallet data from compromised computers. Researchers at Proofpoint noted that its control panel even featured a plugin specifically designed to attempt decryption of seed phrases for victims’ MetaMask wallets.

    Amadey typically serves as the initial entry point, facilitating the deployment of additional malware. SocGholish, meanwhile, has been linked to the Russian cybercriminal group Evil Corp and often infects users through deceptive browser-update notifications displayed on compromised websites. Collectively, these malware families act as the initial stage of attacks that ultimately lead to drained crypto wallets, unauthorized account takeovers, and ransomware deployments.

    Law enforcement agencies successfully took down 326 servers and 142 domains. They also recovered nearly 27 million stolen credentials from over 385,000 compromised systems and remediated approximately 15,000 infected websites, many of which belonged to small businesses. Microsoft, a key partner in the operation, reported that Amadey and StealC had infected more than 140,000 computers globally in the first two weeks of May alone.

    Infostealers have emerged as a primary vector for cryptocurrency theft, quietly exfiltrating wallet files, private keys, and seed phrases from victims’ devices. These malicious tools employ a variety of methods to target crypto users, including the distribution of fake AI tools, compromised Steam wallpapers, and pirated game modifications.

    The scope of exposure is significant. An earlier iteration of Operation Endgame late last year uncovered login data for over 100,000 crypto wallets that had been stolen but not yet fully drained.

    Separately, Microsoft’s Digital Crimes Unit filed a U.S. racketeering lawsuit that, for the first time, treated two distinct malware families as a single criminal conspiracy. Leveraging AI tools, including Copilot, for malware analysis, investigators discovered that Amadey and StealC, despite being developed by different criminal entities, operated on shared infrastructure. This allowed Microsoft to pursue charges against enablers of both operations under the RICO Act and disrupt more than 200 command-and-control servers. The unit has since identified over 18,000 victim computers and initiated measures to sever the attackers’ control.

    Microsoft’s Digital Crimes Unit has dismantled five operations in the past nine months that facilitated “Cybercrime as a Service” (CaaS). The unit emphasized that disrupting cybercrime requires a coordinated approach, working with partners to dismantle the systems that enable these attacks.

    While such takedowns rarely eliminate malware entirely, and operators often regroup – with StealC releasing a new version as recently as this month – Europol and its partners are currently directing victim alerts through services like Have I Been Pwned. This allows users to check if their credentials, and consequently the access to their digital wallets, may have already fallen into criminal hands.

  • Kraken, Maple Launch Fully On-chain Institutional Credit

    Kraken, Maple Launch Fully On-chain Institutional Credit

    Kraken and Maple Launch On-Chain Institutional Credit Facility

    Kraken, the veteran U.S. cryptocurrency exchange, has partnered with Maple, a prominent on-chain institutional asset management platform, to introduce a lending structure familiar to traditional finance into the blockchain-based market.

    The new facility, denominated in USDC, will bolster Kraken’s over-the-counter (OTC) lending business by allowing institutional clients to borrow against their Bitcoin (BTC) and Ether (ETH) holdings, rather than liquidating them.

    According to a joint statement from the two companies, this initiative marks one of the first instances of replicating the structural safeguards of asset-backed securities (ABS) markets entirely on-chain. The facility is built around a dedicated special-purpose vehicle (SPV) designed to be bankruptcy-remote. Simultaneously, Kraken affiliates will originate, service, and retain the junior portion of the loans.

    This first-loss position means Kraken will absorb potential losses before senior lenders are impacted, a mechanism intended to align the interests of borrowers, lenders, and the platform.

    Warehouse financing, a long-standing cornerstone of traditional credit markets, has historically funded products like mortgages, auto loans, and consumer lending before their packaging into larger investment vehicles.

    Under the new structure developed by Maple and Kraken, the BTC and ETH collateral will be held by a Wyoming-chartered Special Purpose Depository Institution (SPDI), which also functions as a regulated qualified custodian. Zaria, an independent SPV administrator, will oversee the facility’s operations.

    “The infrastructure that powers a multi-trillion-dollar ABS market in traditional finance has never existed on-chain, until now,” said Sidney Powell, CEO and Co-Founder of Maple. “This Facility applies that model to digital asset collateral in a fully on-chain environment, with the structural protections institutions actually require.”

    Arjun Sethi, Kraken’s Co-CEO, highlighted that the facility addresses a growing demand from the company’s clients for access to the same capital formation tools that have long supported traditional credit markets.

    This collaboration with Maple follows other significant moves by Kraken, including a partnership with Nasdaq to develop tokenized equities, further integrating traditional capital markets with blockchain-based financial systems. The collaboration will enable Kraken’s tokenized equity product, xStockz, to power a permissionless infrastructure intended to support Nasdaq’s issuer-sponsored equity tokens.

    In related news, Deutsche Börse acquired a $200 million stake in Kraken in mid-February, valuing the exchange’s parent company at $13.3 billion.

  • Binance Update Impacts European Users

    Binance Update Impacts European Users

    Binance Faces Regulatory Hurdles in Europe, Shifts Licensing Strategy

    Binance’s ongoing struggles with European regulators have become a significant point of concern for its user base. The central question now is whether the cryptocurrency exchange can meet local regulatory requirements by the July 1 deadline and what the implications will be for its customers if it fails to do so.

    Earlier this week, Reuters reported that Binance is intensifying its efforts to secure operating permits within the European Union. Gillian Lynch, Binance’s head for Europe and the United Kingdom, indicated that the company might abandon its pursuit of a license in Greece and explore alternative EU member states.

    In an official announcement aimed at quelling growing speculation, Binance confirmed its decision to withdraw its Markets in Crypto-Assets (MiCA) license application with the Hellenic Capital Market Commission (HCMC) in Greece. The company stated it would instead seek authorization in another EU member state.

    “When we are ready to announce that Member State, we will do so publicly. We made this decision after careful consideration of the status and the timeline of the process in Greece, with our users’ interests at the center,” Binance said in its statement.

    The exchange emphasized that Europe remains a crucial market and reiterated its commitment to operating under a “clear, fair, and harmonized MiCA framework.” Binance expressed confidence in achieving full compliance in the coming months, underscoring that serving local users and fostering long-term growth in the region continue to be top priorities.

    Binance has advised its users to monitor their email and in-app notifications for updates, review all communications from the exchange, and contact customer support with any questions regarding their options.

    “Please be cautious of scams: Binance will never contact you by phone. All communications will be sent through official Binance channels or by email. We will never ask for your password, 2FA codes, or private keys,” the company warned.

    The exchange also stressed that addressing this regulatory matter is a primary responsibility, assuring clients that their assets remain secure and accessible at all times.

    Binance CEO Richard Teng also commented on the situation, stating the company’s dedication to obtaining a MiCA license within the next few months. He pledged to “providing clarity, minimizing disruption, and keeping users informed directly.”

    Teng’s remarks on X (formerly Twitter) generated considerable debate, with many users criticizing Binance for its perceived slow progress on regulatory compliance. Some pointed out that the exchange has had ample time to meet EU rules, suggesting that the prolonged absence of a license has eroded trust.

    Other critics questioned the initial choice of Greece, describing it as “the slowest EU member state” with notoriously protracted administrative procedures.

    The uncertainty has prompted some users to consider moving their assets to rival platforms. Coinbase recently announced Luxembourg as its base for MiCA compliance, while Kraken has also highlighted its existing authorization to operate within the European Union.

  • Kalshi Aims for $40B Valuation After $1B Raise

    Kalshi Aims for $40B Valuation After $1B Raise

    Prediction market Kalshi is reportedly in discussions to secure new funding at a valuation of approximately $40 billion, according to The Financial Times. This funding round, which could be finalized as early as the third quarter, would represent a near doubling of Kalshi’s valuation from just last month, when it raised $1 billion from investors including Sequoia Capital, Andreessen Horowitz, Coatue, and Morgan Stanley.

    This valuation surge marks a dramatic ascent for Kalshi, which was valued at around $5 billion in October 2025 and $11 billion by December of the same year.

    Public Listing on the Horizon?

    A public listing may follow the funding round. CEO Tarek Mansour indicated to CNBC on Wednesday that Kalshi is “basically thinking about” an initial public offering, though not within the current year. “A company of our financial profile with the rate of growth that we’re seeing, that sort of conversation has to happen,” he stated. The Information has previously reported that a listing is unlikely before late 2027 or 2028.

    Explosive Growth Amidst Legal Battles

    Kalshi has experienced explosive growth, claiming an annualized trading volume of $178 billion by April 2026, a 32-fold increase year-on-year. However, the platform is also embroiled in an intensifying legal dispute between state and federal authorities over regulatory jurisdiction of prediction markets.

    Last week, derivatives giant CME Group filed a lawsuit against the Commodity Futures Trading Commission (CFTC) over the latter’s approval of Kalshi’s “perpetual” futures. These contracts allow traders to speculate on cryptocurrency prices, directly competing with CME’s own products. Kalshi maintains that its event contracts fall under the exclusive jurisdiction of the CFTC as swaps, a position shared by the Trump-appointed agency.

    States, however, view the situation differently, characterizing the sports markets as unlicensed gambling operations. Arizona initiated criminal charges in March, a Massachusetts judge prohibited Kalshi’s sports markets in January, and Nevada has extended a ban on prediction markets. This month, Kentucky filed a lawsuit against Kalshi and rival platform Polymarket, accusing them of operating illegal sportsbooks.

    The CFTC responded on Tuesday by suing Kentucky to prevent its enforcement actions, marking the ninth state the agency has taken to court and the first led by a Republican attorney general. Former President Donald Trump has emphasized the “critically important” nature of federal authority over these markets, and his son, Donald Trump Jr., serves as an advisor to both Kalshi and Polymarket.

    Regulatory Uncertainty Looms

    The ultimate outcome of these legal challenges remains uncertain. A federal judge in Michigan recently ruled that sports prediction markets do not constitute swaps, and former CFTC and SEC chair Gary Gensler has filed a brief arguing in support of this stance. With multiple states engaged in active litigation and conflicting rulings accumulating, the question of regulatory authority over prediction markets appears destined for the Supreme Court.

    For Kalshi’s potential investors, the resolution of these regulatory battles carries significant weight. Kentucky alleges that 89% of the platform’s 2025 volume originated from sports-related contracts, the very markets that states are attempting to ban. Furthermore, according to The Financial Times, approximately two-thirds of bets placed on Kalshi result in losses for users.

  • UVXYUSDT Perpetual Contract Launched with 20x Leverage

    UVXYUSDT Perpetual Contract Launched with 20x Leverage

    Bybit Introduces UVXYUSDT Perpetual Contract with Up to 20x Leverage

    Cryptocurrency exchange Bybit has announced the listing of its UVXYUSDT Perpetual Contract, enabling traders to engage with the product immediately. The new contract offers leverage of up to 20 times.

    The UVXYUSDT Perpetual Contract is also accessible through Bybit’s suite of Futures bots, including Futures Grid, Futures Martingale, and Futures Combo.

    Contract Specifications:

    • Contract Name: UVXYUSDT Perpetual Contract
    • Underlying Asset: ProShares Ultra VIX Short-Term Futures ETF (UVXY)
    • Settlement Asset: USDT
    • Tick Size: 0.01
    • Maximum Leverage: 20x
    • Capped Funding Rate: 2.5%
    • Funding Fee Settlement Interval: Every 8 hours
    • Trading Hours: 24/7
  • Request Network Launches One-Click Cross-Chain Mass Payouts, Integrates Merkle Science Wallet Screening

    Request Network Launches One-Click Cross-Chain Mass Payouts, Integrates Merkle Science Wallet Screening

    Request Network Unveils One-Click Mass Payouts Across Chains, Enhances Compliance

    Zug, Switzerland – June 25, 2026 – The Request Network Foundation has announced a significant expansion of its stablecoin payment platform, enabling users to execute mass payouts across EVM chains and the Tron network from a single interface. This latest development, released just three weeks after major upgrades to its crypto payment collection system, also introduces built-in bridging and token swapping capabilities across EVM chains and integrates Merkle Science as an additional wallet screening provider.

    These enhancements are designed to bolster Request Network’s commitment to offering businesses a more streamlined, scalable, and resilient solution for global stablecoin payments.

    Effortless Mass Payouts from a Single Wallet

    Stablecoins are increasingly utilized for global disbursements, including salaries, commissions, affiliate rewards, bug bounties, supplier payments, and customer refunds. While stablecoin settlements offer speed and cost advantages over traditional fiat, the operational complexity of sending funds across multiple chains and currencies has historically required finance teams to manage numerous transactions and wallets.

    Request Network now addresses this fragmentation by allowing users to initiate mass payouts from a single wallet and in a single currency. The platform supports payments to recipients across the top six EVM chains—Ethereum, Base, Arbitrum, Optimism, Polygon, and BNB Chain—using USDC and USDT.

    With a single signature, a mass payout can be initiated, even if individual transactions require bridging and swapping to reach their intended recipients. The Request Network protocol automates the retrieval and batching of bridge and swap quotes, ensuring each payment within a batch is correctly routed with just one approval. Further simplifying the process, recipients can set and update their payment preferences, guaranteeing that funds are always directed to their preferred destination. This breakthrough in cross-chain and swapping abstraction aims to connect payers and recipients more effectively, irrespective of their preferred blockchain or currency.

    Mass Payouts Now Supported on Tron

    In addition to EVM chain capabilities, Request Network has launched mass payout support for the Tron network, marking it as the first protocol to combine these functionalities. This allows users to send USDT to multiple recipients on Tron in a single transaction, facilitating large-scale payouts on a network widely used in Asia, Africa, Eastern Europe, and Latin America. The integration means users can now manage all their global stablecoin payouts through the Request Network protocol.

    Expanded Wallet Screening Options

    Request Network has also partnered with Merkle Science to provide an additional wallet screening provider on its protocol. This feature is designed to protect users from interactions with high-risk wallets. When enabled, payments can only be executed if the payer or recipient meets predefined screening policies, helping businesses mitigate risks such as asset freezing or difficulties with fiat off-ramping. The integration of Merkle Science enhances Request Network’s position as a secure platform for receiving crypto on-chain, while still accommodating recipient preferences.

    Tristan Wallaert, CEO of the Request Network Foundation, commented, “Stablecoins have enabled global money movement without the usual fiat constraints, but executing payments at scale remains a bottleneck, forcing users to rely on payment service providers. Anyone should be able to pay hundreds of payments across chains in a single operation. High-risk wallet exposure has tarnished crypto’s reputation recently; if we want to provide the best protection to blockchain users, they need to be able to use the best screening providers. Sending and receiving payments must become intuitive and safe if we want stablecoins to be a real alternative to fiat.”

    Mriganka Pattnaik, CEO of Merkle Science, added, “As stablecoin payments become more global and cross-chain, compliance needs to become just as seamless as the payment experience itself. Our integration with Request Network helps businesses screen wallets with greater confidence, reduce exposure to high-risk activity, and scale on-chain payments without compromising trust or operational efficiency.”

    About Request Network

    Since 2017, Request Network has focused on developing, educating about, and promoting the use of open-source, decentralized, and permissionless protocols that provide infrastructure for on-chain payments and related financial flows. The Request Network protocol enables users to send and receive crypto at scale, across chains, without custodial intermediaries. It is developed by a community-funded foundation dedicated to making crypto payments accessible while protecting participants. To date, over $2 billion has been transacted using Request Network technology.

    About Merkle Science

    Merkle Science provides blockchain analytics and crypto compliance solutions that assist businesses in detecting, investigating, and preventing financial crime across digital assets. Its platform offers wallet screening, transaction monitoring, risk intelligence, and investigation tools, enabling crypto platforms, financial institutions, and payment providers to manage on-chain risk and meet compliance requirements at scale.

  • Binance Convert Now Supports Recurring Transactions for bStocks

    Binance Convert Now Supports Recurring Transactions for bStocks

    Binance Introduces Recurring Purchases for Tokenized Stocks

    Binance has announced a new feature allowing eligible users to set up recurring transactions for bStocks on Binance Convert, simplifying the automation of bStock purchases according to a user’s preferred schedule.

    bStocks are tokenized securities issued by BTech Holdings Limited, an affiliate of the Binance group. These are classified as certificates representing certain financial instruments, as outlined in paragraph 92 of Schedule 1 to the Financial Services and Markets Regulations (FSMR). Importantly, bStocks represent an interest in underlying securities held by the issuer, rather than direct ownership of the underlying shares. Holders of bStocks do not gain direct ownership of shares in the listed companies.

    Each bStock is tokenized security backed 1:1 by a U.S. share held by a regulated custodian. These tokenized securities were the first to be admitted to the FSRA Official List, issued under an FSRA-approved prospectus, and traded on a Recognized Investment Exchange.

    Eligible users can now access fractional U.S. stock exposure starting from as little as the equivalent of 0.01 USDC. This provides an entry point into tokenized securities backed by real shares, held in custody. The specific entry point available to users may differ based on their country or region of residence, verification status, and product availability.

    To set up recurring bStock transactions via the Binance App (iOS version 3.16.3 and Android version 3.15.7):

    1. Navigate to the Homepage and tap [Trade], then select [Convert] or [Buy/Sell].
    2. Choose the [Recurring] mode.
    3. Input the desired purchase amount and select the preferred transaction frequency.
    4. Review the transaction details and confirm the recurring plan.

    Binance users can initiate their bStocks journey with recurring transactions starting from the equivalent of 0.01 USDC. The platform also teased an upcoming promotion where eligible users who set up recurring bStock transactions can share rewards.

    USDC Redemption Rights

    Holders of USDC have a legal claim against Circle SAS, the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS at any time and at par value.

  • Japan Embraces XRP: Major Adoption Announced

    Japan Embraces XRP: Major Adoption Announced

    Ripple Secures Japanese Approval for Stablecoin Launch

    Ripple has received the green light from the Japanese Financial Services Agency (JFSA) to introduce its stablecoin to the country, following an extended collaboration with its long-standing local partner, SBI Group.

    The company’s Senior Vice President of Stablecoins lauded Japan’s regulatory environment, characterizing it as a leader in cryptocurrency adoption. The approval was facilitated by SBI Holdings, through its subsidiary SBI VC Trade Co., LTD, which holds a license as an Electronic Payment Instruments Exchange Service Provider. This partnership will enable the launch of RLUSD in the Japanese market.

    The two entities initially formalized their collaboration with a memorandum of understanding (MoU) in August of this year. This official launch signifies the stablecoin’s significant entry into what they described as one of the most “sophisticated and forward-looking digital assets markets.”

    According to the JFSA license, RLUSD is classified as a new category of electronic payment instrument under Japan’s Payment Services Act. It is designed for foreign-issued stablecoins, ensuring adherence to the safety and regulatory standards mandated by local law. Both institutional and retail users will be able to access Ripple’s stablecoin via SBI VC Trade’s VCTRADE platform.

    “Japan has long been a leader in digital asset adoption, underpinned by both regulatory clarity and financial innovation,” stated Jack McDonald, Ripple’s Senior VP of Stablecoins. “This launch marks an important step in expanding access to transparent, regulated USD-backed stablecoins like RLUSD for financial institutions, consumers, and businesses in Japan.”

    Tomohiko Kondo, CEO of SBI VC Trade, also expressed his satisfaction with the enduring partnership between his company and Ripple, highlighting the RLUSD launch in Japan as a significant recent achievement for both organizations.

    Despite facing legal challenges in the United States, Ripple successfully launched its proprietary stablecoin in late 2024. Primarily targeting institutional investors, RLUSD has experienced considerable adoption growth across various sectors over the past two years, including from major entities like Mastercard.

    Ripple has engaged with numerous exchanges to bolster the stablecoin’s usability and liquidity. Data from CoinGecko indicates that RLUSD’s market capitalization has reached $1.6 billion, a figure slightly below the $1.7 billion reported by Ripple. Nonetheless, it remains among the top 50 largest cryptocurrencies by market cap and ranks as the 10th largest within the stablecoin sector.