Good morning, Asia. This is the reason for the news in the market:
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And stable (USDT, USDC) In the Genius Act and Circle, headlines in the U.S. last month (CRCL) Blockbuster IPO, Asia’s quieter and strategic adoption is reshaping the region’s cross-border financing.
Asian banks increasingly view Stablecoins like USDT and USDC as defense tools to prevent deposit flights and lost transaction revenue. Behind the scenes, Stablecoins has played a major role in the region’s financial pipeline.
Major banks in South Korea, Japan and Hong Kong are proactively exploring stablers of local currency stability to mitigate these threats, Amy Zhang, head of Asia at Fireblocks, said in a recent interview with Coindesk.
“If I were not one of the banking circles or bank bondage, would I lose my deposit?” Zhang told Kodsk. “This is a huge risk to the bank.”
In South Korea, eight major banks including KB Kookmin and Shinhan, Established a consortium to launch South Korea-winning Stablecoindirectly responded to a sharp surge in local use to cross-border transactions.
Japan’s banking giant MUFG, SMBC and Mizuho are driving the yen fixed Stablecoins to simplify trade financing and reduce reliance on traditional cross-border rails. Hong Kong East Asia also recently drove its own USD and HKD Stablecoin settlement network.
Payment Service Provider (PSP) We are actively refueling stablecoins to transfer from expensive traditional bank channels.
“A year ago, the PSP asked them if they should be stable people,” Zhang said. “Now they say, ‘I’m moving the flow of billions of customers; I need a better wallet.'”
Fireblocks, which handled over $3 trillion in digital assets last year, reported that Stablecoins now accounts for about half of its trading volume.
Zhang cites the growing usage of Asian e-commerce giants.
Recent media reportsS said China’s JD.com plans to use Stablecoins to sharply cut supplier payment costs, which is an example Zhang mentioned.
PSPs like Hong Kong’s Tazapay USDC using Circle effectively routes cross-border payments to USD and HKD spending to help content creators and gamers in emerging Asian markets make instant payments.
Visa Analytics’ dashboard It shows that the weekend’s steady volume increased by 30%, highlighting their role in retail and performances.
Tether’s USDT dominated emerging Asian markets driven by its liquidity and easy-to-access Zhang, while USDC gained appeal in highly regulated financial hubs such as Singapore and Hong Kong.
As financial institutions in the region adopt stable institutions defensively and pragmatically operate them, Asia’s quiet transformation into cross-border financial infrastructure could be the next headline in Stablecoin’s growing history.
The question is, what will be the next IPO that takes advantage of this?
Bakkt is raising $1 billion to buy BTC
Bakkt holds (NYSE: BKKT) I am preparing to join more and more listed companies to allocate capital to Bitcoin. According to the Securities and Exchange Commission documents (SEC) Thursday.
Bakkt hopes to raise $1 billion through securities, common stock, preferred stock, debt, warrants and units that buy BTC, according to the SEC filing.
This move is because the company’s BTC treasury strategy has strengthened momentum around the world. The company likes it Metaplanet in Japan,,,,, Bridge Biological Therapy in Koreaand Semler Science in the United States Make headlines by adding BTC to your balance sheet.
register Follow a wave of negative news:Bakkt recently lost two of its largest clients, Bank of America and Webull, responsible for large revenues in loyalty and crypto services.
Last Februarythe company warned that it may not be able to continue operations. A few months later, Trump media is said to be studying acquisitionbut nothing has been achieved since then.
Bakkt is said to be exploring potential sales or rainfall for its loyalty division as it refocuses on cryptocurrency payments and transaction infrastructure.
Market movement
- BTC: Bitcoin remained stable until the $40b option expired on deribit on Thursday, with the highest pain price of $102,00 without obvious directional bias, while the core science of traders soared 33% in taking over rumors.
- ETH: Ethereum is trading at $2,420 as it tests major resistance between $2,500-2,600, and analysts say analysts may pave the way for $2,800 or even $4,000 in exchange reserves and recording user activity.
- Gold: Despite weak dollar and lower Treasury yields, Gold fell to $3,331 on Thursday as strong unemployment claims and durable commodity data offset the recession’s GDP revision and increased uncertainty about the Fed’s future leadership.
- Nikkei 225: Asia-Pacific markets are expected to rise on Friday, tracking Wall Street earnings after the White House draws attention to the upcoming tariff deals.
- S&P 500: The S&P 500 rose 0.8% on Thursday, reaching record heights after an April low of $9.8 trillion rebound, a 23% rally that was eased by eased tariff concerns and updated market optimistic 23%.
Elsewhere in cryptocurrency
- As global competition continues to rise (SCMP)
- The real-world asset tokenization market has grown nearly fivefold in three years (Coindesk)
- What’s the next step in tokenization? (Coindesk)
