Good morning, Asia. This is what news is doing in the markets:
Welcome to Asia Morning Briefing, a daily summary of the main stories during the US hours and an overview of the movements and market analysis. To obtain a detailed description of the US markets, see Cryptokook from Coindesk America.
While Stablecoins (USDT, USDC) The headlines of last month dominated in the midst of Genius and Circle’s Law (CRCL) The Blockbuster opi, the most quiet but strategic adoption of Asia is restructuring the cross -border financing of the region.
Asian banks see more and more stablecoins such as USDT and USDC as defensive tools against deposit flight and lost transactions income. Behind the scene, Stablecoins is already playing an important role in the financial plumbing of the region.
The head of Asia of Fireblocks, Amy Zhang, said in a recent interview with Coindesk that the main banks of Korea, Japan and Hong Kong are proactively exploring the stable of local currencies to mitigate these threats.
“If I am not one of the bank banks or the bank strap, will I lose deposits?” Zhang told Coindesk. “That is a great risk to banks.”
In Korea, eight main banks, including KB Kookmin and Shinhan, are forming a consortium to launch a Korean stable cattle by 2026, a direct response to the local use of USDT and USDC for cross -border transactions.
The Banking Giants of Japan MUFG, SMBC and Mizuho are driving yen stables to rationalize commercial finances and reduce dependence on traditional cross -border rails. The Hong Kong Bank of Oriental Asia also recently piloted its own liquidation network of USD and HKD Stablecoin.
Payment Services Suppliers (PSP) They are aggressively feeding the adoption of stables, moving away from the expensive traditional bank channels.
“A year ago, PSPs were asking if they should do stablocoins,” Zhang said. “Now they say: ‘I am moving one billion customers flows; I need a better wallet.'”
Fireblocks, which prosecuted more than $ 3 billion in digital assets last year, reports that Stablecoins now represent approximately half of their transaction volume.
Zhang cited a growing use among Asian electronic commerce giants.
Recent media reports say that JD.com from China plans to reduce the payment costs of dramatically using stablecoins, which is an example of what Zhang mentioned.
The PSP such as Hong Kong tazapay use the USDC of the circle to efficiently enruption of cross -border payments in USD and HKD disbursements to help with instant payments for content creators and players in the emerging markets of Asia.
A Visa Analytics board shows that on weekends they have 30% more stable stable volumes, which underlines its role in retail and concert use.
Tether’s USDT dominates Stablecoin flows in emerging Asian markets, driven by its liquidity and ease of access that Zhang said, and on the contrary, the USDC gains traction in highly regulated financial centers such as Singapore and Hong Kong.
As the financial institutions of the region adopt stablecoins on the defensive and corporate users, they are operationalized pragmatically, the silent transformation of Asia into cross -border financial infrastructure could become the next holder in the history in evolution of Stablecoin.
The question is, what will be the next opi to capitalize this?
Bakkt is raising $ 1 billion to buy BTC
Bakkt Holdings (NYSE: BKKT) He is preparing to join the growing ranks of public companies that assign capital to Bitcoin, According to a presentation before the Bag and Securities Commission (SECOND) Thursday.
The presentation of the SEC shows that Bakkt is looking to raise $ 1 billion through a combination of values, ordinary shares, preferred actions, debt, warrants and units to buy BTC.
The measure is produced as the corporate strategies of the BTC treasure gain impulse worldwide. Companies such as Metaplenet in Japan, Bridge Biotberapeutics in Korea and Semler Scientific in the United States have appeared in the headlines by adding BTC to their balances.
The record follows a wave of negative news: Bakkt recently lost two of its biggest customers, Bank of America and Webull, responsible for a significant part of their income from the loyalty and cryptography service.
In February of last year, the company warned that it might not be able to continue operations. A few months later, it was said that Trump Media was looking for an acquisition, but since then, nothing has materialized.
It is also said that Bakkt is exploring the potential sale or manure of its loyalty division, since it is forwarded in cryptography payments and commercial infrastructure.
Market movements
- BTC: Bitcoin remained stable above $ 107K on Thursday before a greater expiration of $ 40B options in Delibit, with a maximum pain price of $ 102K and without a clear directional bias of the merchants, while Core Scientific increased 33% in the rumors of acquisition.
- ETH: Ethereum is quoted at $ 2,420, since it proves greater resistance between $ 2,500 and $ 2,600, and analysts say that a break could pave the way to $ 2,800 or even $ 4,000 in the midst of exchange and activity reserves of registration users.
- Gold: Gold fell to $ 3,331 on Thursday despite a weakest dollar and treasury yields in the fall, since the strong unemployed claims of the United States and the data of durable goods compensated for the revisions of the recessive GDP and the uncertainty about the future leadership of the Fed.
- Nikkei 225: Asia-Pacific markets are ready to increase on Friday, tracking the profits of Wall Street after the White House minimized concerns about the upcoming rates agreements.
- S&P 500: The S&P 500 increased 0.8% on Thursday, about a record record after a rebound of $ 9.8 billion of the minimum of April, limiting a 23% rally driven by the ease of fears of fees and the renewed optimism of the market.
In another part of crypto
- Hong Kong Sharps Crypto Hub Focus in the midst of the growing global competition (SCMP)
- The real world asset tokenization market has grown almost five times in 3 years (Cindenesk)
- What follows for tokenization? (Cindenesk)
