Circle gains federal backing for next stage of USDC
Circle wins OCC approval for a national trust bank as Bitcoin rebounds near $64K, OpenAI faces export scrutiny, and Polymarket seeks margin trading.
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Crypto is slowly putting on a suit and tie.
This week, regulators aren't just cracking down. They're letting companies in.
From bank charters to margin trading approvals, the guardrails are becoming on-ramps.
Meanwhile, Japan's biggest corporate Bitcoin holder wants to turn BTC into a lending product.
The line between traditional finance and crypto just got a lot blurrier.
Circle gets OCC approval to become a national digital currency bank
Circle, the company behind USDC, just earned a federal bank charter from the OCC.
The approval makes Circle the first major stablecoin issuer regulated like a national bank.
That means USDC could soon operate under the same rules as your checking account.
Markets
AI chip fever lifts crypto as SK Hynix makes a splashy Nasdaq debut
SK Hynix raised roughly $27B in a 7x oversubscribed IPO priced at $149 per share.
The memory chipmaker's stock was indicated to open near $180, fueling a broader risk-on mood.
That enthusiasm spilled into crypto, with altcoins posting double-digit gains in 24 hours.
BTC traded near $64K, ETH climbed toward $1,800, SOL held near $78, and XRP edged above $1.
Polymarket wants US regulators to greenlight margin trading
Polymarket filed to become a registered futures commission merchant on July 3.
Margin trading would let users place bets with less capital upfront.
If the CFTC signs off, prediction markets start looking a lot more like Wall Street.
Metaplanet, JPYC and Progmat team up to explore Bitcoin-backed credit products
Japan's largest public Bitcoin holder is trying to turn 43,000 BTC into a lending engine.
Project NOVA would create digital credit products with 24/7 trading and daily interest accrual.
If it works, Bitcoin stops being just a store of value and starts generating yield.
OpenAI and Google caught selling AI models to Pentagon-blacklisted Chinese firms
Two of America's biggest AI companies reportedly sold models to blacklisted Chinese tech firms.
The Pentagon maintains that list specifically to restrict sensitive technology transfers.
For an industry racing to win Washington's trust, this is a very bad look.
On Our Radar
Crypto's new starter pack: Small blockchain businesses have actual support programs now.*
Stablecoin test run: South Korea's Gyeonggi Province pilots digital currency for everyday payments.
AI goes to court: Major crypto players are backing a new standard for AI agent disputes.
*sponsored
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Until next time.
Estéfano
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