Coins.ph and SEA Exchanges Launch Union Chain
Union Fintech, headquartered in Singapore, has launched Union Chain, a blockchain platform powered by ZKsync technology. This initiative is supported by leading regulated crypto exchanges and licensed Real World Assets (RWA) tokenization platforms in Southeast Asia, including Coins.ph, Coinhako, Indodax, Coins.co.th, InvestaX, and IXSwap. Union Chain aims to bridge the gap between traditional finance and crypto by uniting top centralized crypto exchanges and licensed RWA tokenization leaders, facilitating secure and seamless transactions. (Tech in Asia)
South Korea to Lift Crypto Ban for Institutional Investors by 2025
South Korea is set to partially lift its ban on cryptocurrency investments for institutional investors in 2025. The government aims to regulate and integrate digital assets into the financial system while preventing excessive speculation. This decision is expected to bring significant capital into the crypto market, especially from South Korea’s major financial institutions. Analysts predict that the regulatory shift could position South Korea as a key player in the global crypto industry. (Yahoo Finance)
Hong Kong Allows Immigrants to Use Bitcoin, Ether to Prove Net Worth for Investment Visas
Hong Kong has introduced a new policy allowing immigrants to use Bitcoin and Ether as proof of net worth for investment visa applications. This move reflects the city’s progressive stance on crypto adoption and its aim to attract high-net-worth individuals. The decision could encourage more wealthy investors to relocate to Hong Kong, further integrating digital assets into the global financial system. Experts see this as a potential model for other jurisdictions considering similar measures. (Economic Times)
Trillion-Dollar Asset Manager Files for Solana Spot ETF, Expands Crypto Offerings
Franklin Templeton has filed for a Solana spot ETF, marking a significant step toward institutional adoption of the cryptocurrency. This move comes amid increasing interest in alternative blockchain networks beyond Bitcoin and Ethereum. If approved, the ETF could provide investors with regulated exposure to Solana, potentially boosting its market value. Analysts believe this development could accelerate mainstream recognition of Solana as a key player in the crypto space. (MSN)
Goldman Sachs Expands Crypto ETF Offerings Amid Growing Demand
Goldman Sachs has announced an expansion of its cryptocurrency ETF offerings, reflecting increased demand from institutional and retail investors. The move aligns with Wall Street’s growing acceptance of digital assets as a legitimate investment class. This expansion follows similar moves by other financial giants, signaling a broader trend of mainstream crypto adoption. Experts believe that continued institutional support could help stabilize and legitimize the crypto market. (Yahoo Finance)
Tether May Have to Sell Reserves to Comply with U.S. Stablecoin Rules, Says JPMorgan
JPMorgan analysts suggest that Tether may need to sell some of its reserve assets to comply with upcoming U.S. stablecoin regulations. The new rules could require issuers to hold reserves in highly liquid and regulated financial instruments. If Tether is forced to make such adjustments, it could impact the broader crypto market, given its dominance in stablecoin transactions. Market participants are closely watching how Tether navigates these regulatory challenges. (CoinDesk)
Strategy Resumes Bitcoin Purchases, Holdings Reach 478,740 BTC
Strategy has resumed its Bitcoin acquisition strategy, bringing its total holdings to 478,740 BTC. This move reaffirms the company's long-term bullish stance on Bitcoin as a store of value. The purchases come after a brief pause, indicating renewed confidence in Bitcoin’s future price trajectory. Investors are closely watching whether this aggressive accumulation strategy will influence institutional adoption trends. (Business Insider)
PancakeSwap Overtakes Uniswap as Top DEX Amid Volume Surge
PancakeSwap has surpassed Uniswap in trading volume, becoming the top decentralized exchange (DEX). This shift highlights the growing popularity of Binance Smart Chain (BSC)-based DeFi platforms over Ethereum-based alternatives. Lower transaction fees and increased liquidity have contributed to PancakeSwap’s rise. Analysts believe that continued user adoption could further solidify its dominance in the DEX market. (Investing.com)
Dogecoin Leads Market Slide as Bitcoin Traders Monitor Dollar Positioning
Dogecoin has led a broader crypto market decline, experiencing significant price drops alongside Bitcoin and other altcoins. Market analysts attribute the downturn to macroeconomic factors, including the strength of the U.S. dollar. Bitcoin traders are closely monitoring dollar positioning for potential shifts in market sentiment. The sell-off highlights the continued volatility of meme coins in comparison to more established assets. (CoinDesk)
