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USDC

Stripe’s USDC Transfers Exceed $100 Million on Polygon, Base, Ethereum

by admin October 4, 2025

Stripe hits $100 million in USDC transfers across Polygon, Ethereum, Base
More and more corporations join stablecoin race

Stripe, a leading global fintech company, hit an all-time high in USDC stablecoin transfers. In September 2025 alone, the platform processed over $17 million in USDC via three blockchains, with Polygon (POL) outshining Ethereum (ETH).

Stripe hits $100 million in USDC transfers across Polygon, Ethereum, Base

Stripe’s Global Financial Accounts service eclipsed a cumulative $100 million in transfers via the USDC stablecoin. This massive amount was processed on three blockchains: Polygon (POL), Ethereum (ETH) and Base.

Such results were shared by Alex Obchakevich, seasoned cryptocurrency researcher and investor, with his 64.5K followers on X yesterday, Oct. 3, 2025.

In September 2025, the platform set a new all-time high in terms of stablecoin rails’ usage. Stripe transmitted $17 million in USDC coins. Since May 2025, Polygon (POL) has been processing more value than Ethereum (ETH), the Dune dashboard by Obchakevich says.

In total, Polygon (POL) was responsible for $51 million in equivalent, Ethereum (ETH) processed $48 million, while Base totaled $3 million.

The service is available in over 100 countries and territories globally. Paxos, a U.S. fintech heavyweight, is handling the technical side of the integration.

More and more corporations join stablecoin race

In 2025, more and more Web2 digital payment systems are exploring the opportunities of stablecoins. Last week, PayPal launched Aave incentives for its PYUSD stablecoin.

As covered by U.Today previously, Ripple president Monica Long named TradFis integrating stablecoins as one of the hottest trends of 2025.

OKX SG Brings USDT and USDC Scan-to-Pay to Singapore’s Everyday Shopping

by admin September 30, 2025

OKX SG, the Singapore-based unit of OKX, said it is bringing the crypto exchange’s integrated payments service, OXK Pay, to the city-state through a stablecoin-powered scan-to-pay service tie-up with Southeast Asia’s “everyday everything” app, Grab.

OKX SG, which received a major payment institution license from the country’s central bank just over a year ago, will work with crypto infrastructure provider StraitsX to allow customers to pay for everyday expenses using the two largest U.S. dollar-pegged stablecoins, USDT, issued by Tether, and USDC, issued by Circle Internet (CRCL).

The launch of OKX Pay is a sign of the increasing adoption of stablecoins in commercial networks across Asia and beyond. StraitsX’s XSGD stablecoin is already integrated with Alipay+ and Grab, which enables wallets like GCash, KakaoPay and Touch ’n Go e-wallets. In some emerging markets, stablecoins are already widely used for remittances and day-to-day commerce, often preferred for their lower transaction fees and faster settlement times than conventional money transfers through traditional banking channels.

“OKX Pay addresses real needs for customers by expanding DPTs’ use beyond trading and investing to everyday payments — from a morning coffee to dining out with friends,” Gracie Lin, CEO at OKX SG, said in a press release shared with CoinDesk.

The system allows users to scan GrabPay SGQR codes at participating merchants and converts their USDT or USDC into XSGD, StraitsX’s Singapore dollar-pegged stablecoin. The XSGD is then converted in the fiat currency and passed to merchant.

Stablecoins are tokens whose values are pegged to an external reference, typically a fiat currency. This pegging mechanism minimizes the price volatility typically seen in other cryptocurrencies, providing users with a digital asset that functions similarly to traditional money while offering the benefits of blockchain technology such as faster cross-border transactions and payment modes.

According to JPMorgan, stablecoin transaction volumes have zoomed to over $800 billion a month from less than $100 billion in five years. The overall use of stablecoins in real world transaction is slowly picking up.

According to a BCG white paper on stablecoins released in May 2025, stablecoins’ payments-related uses such as cross-border remittances, merchant transactions and on-chain settlements now make up approximately 4%–6% of total activity. Meanwhile, trading related activities make up for 88% of the total.

The OKX Pay’s three-step conversion ensures that merchants benefit from a simple, compliant way to accept stablecoin payments without having to handle digital payment tokens (DPTs) themselves.

Every OKX Pay transaction is executed as a blockchain transfer using the Monetary Authority of Singapore’s purpose bound money (PBM) framework, which applies programmable logic to ensure compliant and conditional settlement.

“The future of payments will be defined by trust, speed, and interoperability – and stablecoins are at the heart of this shift,” Tianwei Liu, StraitsX CEO & co-founder, said in the statement. “The launch of OKX Pay is more than a new service but a blueprint for how stablecoins will underpin global commerce in the years ahead.”

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September 30, 2025 0 comments

GameFi Guides

Temporary ‘Boost’ from DeFi Lender Morpho Behind Elevated USDC Lending Rates for Coinbase Users

by admin September 20, 2025

In brief

Coinbase unveiled a lending product this week offering “competitive yields.”
DeFi lender Morpho is currently subsidizing those rates.
A Coinbase employee acknowledged that it’s a marketing tactic.

A lending product unveiled by Coinbase that offers up to 10.8% returns on USDC deposits is receiving a temporary boost from DeFi lender Morpho.

On X, Coinbase Head of Consumer and Business Products Max Branzburg said on Thursday that around 6% of the product’s returns stem from activity that takes place on Morpho’s platform, while an additional 5% is being “boosted” by the protocol itself.

In a statement to Decrypt, a Coinbase spokesperson confirmed that Morpho is currently augmenting the lending product’s returns, but it declined to say whether the arrangement was the product of a deal, or when the effective subsidy could end.

“While the interest rate always fluctuates and will climb or dip naturally over time, the current yield is elevated by the Morpho boost,” they said. “Morpho frequently deploys incentives to drive activity in their ecosystem, and this is part of that broader motion.”

Decrypt has reached out to Morpho for comment.

When Coinbase unveiled the lending product on Thursday, many people wondered where its competitive yields came from, whether through memes or posing the question directly. The intrigue, in many ways, is the product of contagion among crypto lenders in 2022.

The advertised return for Coinbase’s product is not nearly as eye-popping as the 20% returns once offered by Anchor Protocol before Terra’s ecosystem went belly up in 2022. As companies like Coinbase lean into on-chain lending products under crypto-friendly lenders, the pause among some onlookers indicates bad memories haven’t been entirely forgotten.

A blog post introducing Coinbase’s new lending product makes no mention of Morpho’s subsidy, which Branzburg acknowledged is for marketing purposes on X. A Coinbase spokesperson noted that the exchange has a help page explaining that Morpho’s lending rates can vary.

Morpho, which exists on Ethereum and Coinbase’s layer-2 scaling network Base, allows users to create markets for overcollateralized loans that are separate and customizable. For its product, Coinbase said that a firm called Steakhouse Financial is curating the “vaults” that users deposit funds into, or managing risk and allocating USDC to different markets.

Decrypt has reached out to Steakhouse for comment.

The only vault on Morpho tied to Stakehouse that exists Base had $24 million in USDC deposits on Friday, according to Morpho’s website. The vault offered an annual percentage yield of 5.87%, and is currently collecting a 25% performance fee.

The vault’s funds were supplied to markets for borrowing wrapped versions of Bitcoin and Ethereum, including Coinbase’s cbBTC and cbETH products, as well as WETH and wstETH. Over 98% percent of the vault’s funds were dedicated to the market for lending cbBTC.

The Coinbase spokesperson confirmed to Decrypt that the vault is tied to its product.

In a blog post, Morpho said Coinbase’s lending product dovetails with the exchange’s second rollout of crypto-backed loans earlier this year, which are also powered by the DeFi lender. (Coinbase stopped issuing crypto-backed loans under its Borrow service in May 2023, not long after receiving an enforcement threat from the SEC.)

“The two offerings complement each other perfectly: lenders provide liquidity that directly fuels crypto-backed loans,” Morpho said.

Coinbase users can already earn passive rewards on USDC held within their accounts, topping out at 4.5% APY for customers of its subscription-based membership. The dollar-pegged token is backed by cash and U.S. Treasuries, like most other stablecoins.

Several banking groups have called stablecoin rewards a “loophole” under legislation that was recently passed in the U.S., demanding that it be changed. Yet others see the prospect of yields as important for stablecoins to see adoption amid a competitive market.

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September 20, 2025 0 comments

NFT Gaming

What Is Arc? The Stablecoin Blockchain From USDC Issuer Circle

by admin September 20, 2025

In brief

Arc is a blockchain built by USDC issuer Circle for stablecoin-focused applications.
It uses USDC for gas, features a built-in FX engine, and enables opt-in privacy.
Public testnet is expected later this year, with a mainnet beta planned for 2026.

Circle, the company behind the USDC stablecoin, has launched a new blockchain platform called Arc. Unlike blockchains like Ethereum or Solana, Arc is a Layer-1 network designed specifically to support stablecoin-based applications.

Stablecoins are tokens whose value is tied to fiat currencies such as the dollar. Arc is Circle’s effort to address the infrastructure challenges that limit the adoption of stablecoins at an institutional scale.

“We’ve helped enterprises and builders use USDC across dozens of networks,” Rachel Mayer, VP of Product Management at Circle, told Decrypt. “The consistent feedback has been: make costs predictable, settlement finality deterministic, and privacy compatible with real-world obligations.”

This article will explain what Arc is, how it works, and what Circle says sets it apart from other blockchain platforms.

Why Circle built Arc

While a part of the crypto market for years, stablecoins like USDT and USDC have seen growing interest and adoption following the passage of the GENIUS Act, which President Donald Trump signed into law in July 2025.

However, Circle argues that most existing blockchains were not designed to support stablecoins. Common limitations that Circle points to include:

🎢 Fee volatility
⛓️ Probabilistic settlement with risk of chain reorganizations
🕵️ Lack of privacy controls for sensitive commercial transactions
💧 Fragmented liquidity across multiple chains

Circle said Arc addresses these challenges by offering instant and irreversible transaction settlement (known as deterministic finality), predictable fees priced in stablecoins, optional privacy features that support regulatory compliance, and built-in connections to other blockchains and traditional financial systems.

Arc is being rolled out in three phases:

Private testnet began in August 2025
Public testnet is expected in Fall 2025
Mainnet beta is scheduled for 2026

USDC as native gas

By using USDC, a digital currency backed by real-world assets, Circle aims to eliminate the need for volatile tokens to pay transaction fees. The network can also support other stablecoins as gas via a paymaster system.

According to Circle, Arc’s fee model builds on Ethereum’s EIP-1559 architecture but replaces block-level adjustments with a weighted moving average of network demand. This smoothing mechanism keeps fees low and predictable. Fees are denominated in USDC and directed to an on-chain Arc Treasury.

“Arc’s fast finality and native gas coupled with Circle’s CCTP and Gateway interoperability service-as-a-stablecoin liquidity hub, enable USDC to move across the blockchain ecosystem freely,” Mayer said. “So builders and users can be on the networks that fit their needs while still tapping Arc’s stablecoin-optimized rails.”

This design enables dollar-based, auditable, and stable fee structures, which Circle said are better suited to financial institutions than speculative token models.

Deterministic settlement and consensus

Arc’s consensus layer is powered by Malachite, a Byzantine Fault Tolerant (BFT) engine based on Tendermint. Validator selection is currently permissioned and based on operational resilience, geographic distribution, and regulatory compliance. Plans include a transition to a “permissioned” Proof-of-Stake mechanism, according to Circle.

To reduce the chance for abuse, the Circle is developing tools like encrypted mempools, batch transaction processing, and multi-proposer consensus, all aimed at ensuring fairer execution in financial applications.

Opt-in privacy for institutions

Arc includes a modular privacy system designed to balance compliance with confidentiality. The first feature, confidential transfers, shields transaction amounts while keeping addresses visible. Smart contracts interact with a cryptographic backend via precompiles, using Trusted Execution Environments (TEEs) for private computation.

Institutions can selectively disclose data to regulators or auditors via view keys. Over time, Arc plans to support:

Private state and confidential computation
Zero-knowledge proofs (ZKPs)
Multi-party computation (MPC)
Fully homomorphic encryption (FHE)

Circle’s tools connect fiat and USDC across Arc and other blockchains: Mint converts fiat to USDC on Arc, CCTP transfers USDC by burning and reminting it across chains, and Gateway offers chain-agnostic USDC balances with built-in liquidity rebalancing for wallets and apps.

“Arc strengthens the broader multichain ecosystem by unlocking new use cases, partners, and institutional liquidity on-chain,” Mayer said. “Builders and users can be on the networks that fit their needs while still tapping Arc’s stablecoin-optimized rails.”

Positioning in the blockchain ecosystem

Arc enters a competitive environment that includes public Layer-1 blockchains such as Bitcoin, Ethereum, and Solana, stablecoin-focused chains like Plasma and Frontier, Layer-2 networks such as Arbitrum and Base, and private or semi-public networks operated by payments firms.

Circle’s differentiator is its existing position in the market as the issuer of USDC, one of the largest stablecoins.

By building a purpose-specific chain for programmable, compliant financial operations, Arc aims to extend the utility of stablecoins beyond payments and into real-time settlement, tokenization, and global capital.

“Regulatory clarity is often a catalyst for institutional adoption,” Mayer said, adding that Arc is designed to be “enterprise-grade.”

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September 20, 2025 0 comments

Coinbase CEO wants 50% of the platform written by AI

Crypto Trends

Coinbase launches onchain USDC lending with up to 10.8% APY

by admin September 19, 2025

Coinbase is deepening its decentralized finance push with the launch of onchain lending for USDC directly within its app.

Summary

Coinbase has unveiled onchain USDC lending with yields up to 10.8% APY.
Integration with Morpho on Base allocates funds across lending markets via smart contract wallets.
Rollout starts in select regions, expanding access to DeFi without leaving the Coinbase app.

Coinbase has rolled out an onchain lending feature for USDC, allowing users to earn yields as high as 10.8% directly through its app.

The integration, announced on Sept. 18, connects to the Morpho (MORPHO) lending protocol on Base, Coinbase’s Layer 2 network. When a user deposits USD Coin (USDC), Coinbase automatically generates a smart contract wallet that routes funds into Morpho vaults curated by Steakhouse Financial.

To maximize profits, these vaults distribute capital among lending markets. Interest starts to accrue immediately, and as long as there is liquidity, users can withdraw at any moment.

Expanding USDC utility

The rollout builds on Coinbase’s existing USDC Rewards program, which currently offers up to 4.5% APY for holding the stablecoin. By tapping into permissionless markets via Morpho, the new service provides yields more than double those rewards while keeping the familiar Coinbase interface.

The feature is initially available to users in the U.S. (excluding New York State), Bermuda, Hong Kong, the United Arab Emirates, New Zealand, the Philippines, Taiwan, and South Korea. Coinbase said broader access will follow in the coming weeks.

Morpho currently secures more than $8 billion in total value locked, highlighting demand for decentralized lending. Through this integration, Coinbase will serve as a gateway to these markets, enabling retail users to access on-chain yields without having to deal directly with complex DeFi protocols.

Building a USDC utility ecosystem on Coinbase

In 2025, Coinbase has gradually increased the range of USDC-linked services it offers. It launched USDC loans backed by Bitcoin in January, later increasing the limit to $1 million. The exchange has also expanded USDC integrations into derivatives, NFTs, and even AI-driven payments, creating what it describes as a “flywheel” effect for adoption.

USDC is still one of the most liquid and extensively used stablecoins, with over $73 billion in circulation. Coinbase’s onchain lending feature adds another use case, strengthening its bet that stablecoins will anchor mainstream adoption of crypto finance.

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September 19, 2025 0 comments

NFT Gaming

Coinbase Adds USDC Lending With Morpho and Steakhouse Financial

by admin September 19, 2025

U.S.-listed cryptocurrency exchange Coinbase (COIN) has rolled out a USDC lending product that allows its customers to earn yield directly from the exchange’s app, deepening its integration with decentralized finance (DeFi).

The feature is powered by Morpho, a protocol that routes deposits through curated “vaults” managed by Steakhouse Financial, according to a blogpost on Thursday

When users deposit USDC, their funds are lent out to borrowers — including those already tapping Coinbase’s crypto-backed loans secured by bitcoin. The interest borrowers pay generates returns for depositors, who can withdraw anytime without lockups.

Coinbase said the setup creates a flywheel effect where its lending and borrowing products reinforce each other. The launch follows more than $900 million in loans originated through Coinbase’s crypto-backed loan service. Together, the two offerings form what the company calls its first complete onchain lending and borrowing ecosystem.

By outsourcing the backend to Morpho’s smart contracts while keeping the Coinbase interface, the company is betting on what it calls the “DeFi mullet” approach: a familiar fintech user experience at the front, powered by open, decentralized infrastructure in the back.

For users, the product offers an easier way into decentralized lending markets without leaving Coinbase’s platform. For Morpho, it underscores the argument that the future of finance will be built on open networks, but accessed through trusted gateways.

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September 19, 2025 0 comments

Crypto Trends

Coinbase Integrates Morpho to Offer Up to 10.8% USDC DeFi Yield

by admin September 18, 2025

Coinbase is rolling out a new way for users to earn yields on their USDC holdings, marking one of the exchange’s first large-scale integrations with decentralized finance (DeFi) at a time of accelerating stablecoin adoption.

The company announced Thursday that it is integrating the Morpho lending protocol, with vaults curated by DeFi advisory company Steakhouse Financial, directly into the Coinbase app. The move will allow users to lend USDC (USDC) without navigating third-party DeFi platforms or wallets.

Coinbase already pays up to 4.5% APY in rewards for holding USDC on its platform. With the new DeFi lending option, however, users can tap into onchain markets and potentially earn yields of up to 10.8% as of Wednesday, according to Coinbase.

“Coinbase is only integrated with one lending protocol (Morpho) for this offering,” a company spokesperson told Cointelegraph. “We recommend that users understand the risks of lending, which are outlined in the Coinbase app experience.”

Morpho ranks among the largest decentralized lending protocols in crypto, with more than $8.3 billion in total value locked (TVL), according to DefiLlama. The protocol’s dollar-denominated TVL has climbed sharply this year, reflecting growing demand for onchain lending.

Morpho TVL statistics. Source: DefiLlama

The Morpho integration with Coinbase comes as more Americans express interest in using DeFi platforms amid a friendlier regulatory backdrop. A recent survey of 1,321 US adults conducted for lobbying group DeFi Education Fund found that 40% would be open to using such protocols if pending crypto legislation were enacted into law.

Among institutional circles, DeFi lending has jumped 72% year-to-date, according to Binance Research.

DeFi lending protocols, including Morpho, have experienced a significant surge among institutional investors. Source: Binance Research

Related: The intersection of DeFi and AI calls for transparent security

Stablecoin yield ban under fire as industry challenges perceived GENIUS Act loophole

DeFi lending for yield differs from simply earning passive interest on stablecoin holdings — a distinction that has become increasingly contentious since the passage of the US GENIUS Act, which explicitly bans yield-bearing stablecoins.

In August, the Bank Policy Institute (BPI) — a lobbying group backed by major US banks — urged regulators to close what it described as a loophole that might permit exchanges or affiliates to provide yield through third-party partners.

Source: Bank Policy Institute

“Bank deposits are an important source of funding for banks to make loans, and money market funds are securities that make investments and subsequently offer yield. Payment stablecoins serve a different purpose, as they neither fund loans nor are regulated as securities,” BPI said in a statement.

The pushback comes as stablecoin adoption accelerates, with circulating supply recently surpassing $300 billion, according to CoinMarketCap.

Coinbase, meanwhile, rejected claims that dollar-pegged stablecoins undermine traditional banking. “Stablecoins don’t threaten lending — they offer a competitive alternative to banks’ $187 billion annual swipe-fee windfall,” the exchange wrote in a Tuesday blog post.

Related: Crypto Biz: IPO fever, Ether wars and stablecoin showdowns

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September 18, 2025 0 comments

NFT Gaming

SharpLink Transfers 379M USDC To Galaxy Digital: Ethereum Buy Incoming?

by admin September 11, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum continues to show remarkable resilience, with demand leaving its mark even as price action remains sideways. ETH has been consolidating in a narrow range, mirroring the broader market where Bitcoin trades cautiously and altcoins display selective strength. Yet behind the scenes, institutional interest in Ethereum is quietly building, setting the stage for what could be the next major move.

According to fresh data from Lookonchain, SharpLink recently transferred $379 million USDC to Galaxy Digital, capital that may be allocated toward purchasing more ETH. This transfer underscores a growing trend: institutional players are not shying away from Ethereum, even amid volatility and macroeconomic uncertainty. Instead, they are positioning themselves for what could be a decisive breakout once the current consolidation phase resolves.

SharpLink Transfers to Galaxy Digital | Source: Lookonchain

SharpLink Gaming is among the first Nasdaq-listed companies to design a treasury strategy centered on ETH, marking a significant milestone in corporate adoption. By treating Ethereum as a strategic reserve asset, it reinforces the idea that ETH’s role extends well beyond speculative trading into long-term institutional portfolios.

Related Reading: Bitcoin Mining Difficulty Keeps Rising Despite Price Volatility – Details

With consolidation tightening and institutional inflows accelerating, the coming weeks may prove critical. Many investors expect a massive surge for Ethereum once the current sideways structure breaks, potentially marking the start of its next major rally.

SharpLink Expands Ethereum Treasury

SharpLink has officially announced that its total Ethereum holdings climbed to 837,200 ETH as of August 31, 2025, solidifying its role as one of the largest corporate holders of the asset. The company continues to pursue its ETH-focused treasury strategy aggressively, with notable activity reported in the week ending August 31.

During that week, SharpLink purchased an additional 39,008 ETH, bringing its cumulative balance to new heights. These acquisitions were financed through $46.6 million in net proceeds raised via the company’s at-the-market (ATM) facility, demonstrating its ongoing ability to secure fresh capital for strategic allocations. Importantly, the average purchase price for the week’s ETH acquisitions stood at $4,531, reflecting the company’s confidence in buying at elevated levels as Ethereum consolidates near all-time highs.

SharpLink Weekly Ethereum and Capital Summary | Source: SharpLink

This accumulation has elevated SharpLink to the position of the second-largest ETH treasury holding company, trailing only BitMine. BitMine currently holds more than 2 million ETH, valued at approximately $9.2 billion. Together, these treasury allocations highlight how major institutions are increasingly adopting Ethereum not only as a speculative asset but also as a long-term strategic reserve.

By expanding its ETH holdings so aggressively, SharpLink is sending a clear signal to the market: Ethereum’s role in corporate treasuries is no longer theoretical. As adoption grows, such moves could prove pivotal in reinforcing ETH’s status as a core asset in the global digital economy.

ETH Analysis: Trading Sideways

Ethereum is trading at $4,436, showing a 2% daily gain as the price begins to emerge from a prolonged consolidation phase. The 12-hour chart highlights that ETH has been moving sideways for much of September, holding firmly above $4,200 support. Now, momentum appears to be picking up as the price tests resistance around $4,450.

ETH testing local supply | Source: ETHUSDT chart on TradingView

The 50 SMA at $4,407 is now acting as immediate support, while the 100 SMA at $4,182 provides a stronger cushion below. The 200 SMA, sitting at $3,460, remains well beneath the current range, confirming that ETH’s broader bullish structure is intact. As long as Ethereum maintains levels above $4,200, the technical setup favors continuation to the upside.

For bulls, the next critical test lies in reclaiming $4,600, a level that has repeatedly capped rallies in recent weeks. A decisive breakout above this resistance would set the stage for ETH to retest the $4,800–$5,000 zone, potentially marking the start of a stronger bullish leg.

Featured image from Dall-E, chart from TradingView

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September 11, 2025 0 comments

NFT Gaming

Circle’s USDC Market Share ‘On a Tear,’ Says Wall Street Broker Bernstein

by admin September 8, 2025

Hyperliquid is planning to launch its own stablecoin, in a move that could reduce the decentralized exchange’s (DEX) dependency on Circle’s USDC.

In spite of these fears, USDC supply has surged to $72.5 billion, running 25% ahead of Wall Street broker Bernstein’s 2025 estimates. The firm had predicted that the stablecoin’s supply would reach $74 billion by year-end.

The stablecoin’s market share is “on a tear,” wrote analysts led by Gautam Chhugani in a Tuesday report.

Market share relative to Tether, issuer of the world’s largest stablecoin USDT, has also grown to 30%, up from 28% in the second quarter, the broker said.

Stablecoins are cryptocurrencies whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets, providing among other things a payment infrastructure, and are also used to transfer money internationally.

The report noted that $5.5 billion in USDC (about 7.5% of supply) is currently used as collateral on Hyperliquid. While the exchange’s move introduces competition, it will be challenging to bootstrap sufficient liquidity for a new stablecoin in derivatives markets where execution reliability and sizing are critical, the analysts wrote.

Bernstein said that following the GENIUS Act, new stablecoin entrants are inevitable. However, liquidity bootstrapping for derivatives is non-trivial.

Concerns about Circle’s exposure to rate cuts (since lower interest income could impact revenues) miss the bigger picture, according to Bernstein analysts, as the stablecoin issuer benefits from expanding USDC supply.

Rate cuts could even support risk-on sentiment in digital assets, spurring further demand for USDC and related yield strategies, the report added.

Bernstein has an outperform rating on Circle shares, with a $230 price target. The stock was trading 1.2% higher, around $116, at publication time.

Read more: Circle Unveils Layer-1 Blockchain Arc, Reports $428 Million Q2 Loss

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September 8, 2025 0 comments

Seed Funding Investment coins in a jar (Towfiqu barbhuiya/Unsplash)

NFT Gaming

BTC, USDT, USDC Lead Global Flows: Chainalysis

by admin September 6, 2025

India and the United States top the world in cryptocurrency adoption this year, according to Chainalysis’ 2025 Geography of Cryptocurrency Report, underscoring how both grassroots and institutional forces are shaping the market’s trajectory.

The sixth edition of the annual Global Crypto Adoption Index ranks India first across every sub-category measured, from retail to institutional flows. The U.S. climbed to second overall, boosted by surging institutional participation following the approval of spot bitcoin exchange-traded funds (ETFs). Pakistan, Vietnam and Brazil round out the top five.

Asia-Pacific emerged as the fastest-growing region, with on-chain transaction volume soaring 69% year-over-year to $2.36 trillion, driven by widespread activity in India, Pakistan and Vietnam.

Latin America followed with 63% growth, while Sub-Saharan Africa expanded 52% on the back of remittances and daily payments. North America and Europe continued to dominate in absolute terms, with $2.2 trillion and $2.6 trillion received respectively over the past year.

Stablecoins remain a pillar of global adoption with USDT) and USDC accounting for trillions in monthly flows.

Circle’s euro-backed EURC, launched under Europe’s MiCA regime, grew nearly 90% month-over-month, reaching $7.5 billion by June 2025. PayPal’s PYUSD also accelerated, rising from $783 million to $3.95 billion.

Payment giants including Visa and Mastercard have also rolled out stablecoin-linked products.

Bitcoin remains the primary entry point for fiat on-ramps, attracting $4.6 trillion in inflows between July 2024 and June 2025, more than double the next category, Layer 1 tokens excluding BTC and ETH. The U.S. remains the world’s largest fiat on-ramp at $4.2 trillion, four times South Korea.

Chainalysis notes that adoption is broad-based across income levels, with high-, middle- and low-income countries rising in tandem, though the latter remain more vulnerable to shocks.

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September 6, 2025 0 comments