Portal to Bitcoin raises $25M and launches atomic OTC desk
Bitcoin-native interoperability protocol Portal to Bitcoin has raised $25 million in funding amid the launch of what it describes as an atomic over-the-counter (OTC) trading desk. According to a Thursday announcement shared with Cointelegraph, the company raised $25 million in a round led by digital asset lender JTSA Global. The fundraise follows previous investments by
Alibaba weighs deposit token as China clamps down on stablecoins: Report
The cross-border e-commerce arm of Chinese tech behemoth Alibaba is working on a deposit token amid mainland China’s crackdown on stablecoins, according to CNBC. Alibaba president Kuo Zhang told CNBC in a Friday report that the tech giant plans to use stablecoin-like technology to streamline overseas transactions. The model under consideration is a deposit token
Japan’s FSA backs joint stablecoin initiative by nation’s top banks
Japan’s financial regulator has launched a “Payment Innovation Project” backing a joint initiative by major banks and corporations to issue yen-based stablecoins. Japan’s financial regulator, the Financial Services Agency (FSA), endorsed a project by the country’s largest financial institutions to jointly issue yen-backed stablecoins. In a Friday statement, the FSA announced the launch of its
Metaplanet becomes fifth-largest corporate Bitcoin treasury with $633M buy
Metaplanet became the world’s fifth-largest corporate Bitcoin holder after buying 5,419 BTC, bringing its total to 25,555 BTC worth nearly $3 billion. Japan’s Metaplanet expanded its Bitcoin treasury with a 5,419 BTC purchase, making it the fifth-largest corporate holder of the cryptocurrency globally. The company said Monday it acquired 5,419 Bitcoin (BTC) at an average
Paxos updates USDH stablecoin bid with PayPal, Venmo integration plans
Paxos updated its bid to issue Hyperliquid’s USDH stablecoin, unveiling a PayPal-backed product with payment integration and a revenue model tied to the DEX’s growth. Stablecoin issuer Paxos has updated its proposal to issue USDH, the planned stablecoin of decentralized exchange (DEX) Hyperliquid, adding support from PayPal and Venmo. In a Wednesday announcement, Paxos updated