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В Госсовете России определили регионы с высоким потенциалом для майнинга

bits.media/ - Tue, 10/28/2025 - 12:53
Глава комиссии Государственного Совета России по энергетике Айсен Николаев рассказал, что добыча криптовалют актуальная для регионов с избытками энергетических ресурсов, но не имеющих инфраструктуры для их экспорта из-за удаленности.

В Вашингтоне планируют установить памятник основателю Binance Чанпэну Чжао

bits.media/ - Tue, 10/28/2025 - 12:28
Анонимные спонсоры выделили около $50 000 на создание позолоченной статуи Чанпэна Чжао в Вашингтоне, чтобы отметить его вклад в мировую криптоиндустрию, заявил организатор проекта Ник Зи (Nick Zee).

Банк России планирует ввести регулирование для сферы криптообменников

bits.media/ - Tue, 10/28/2025 - 12:03
Первый зампред Банка России Владимир Чистюхин заявил, что одной из первоочередных задач регулятора и правительства является создание законодательной базы для регулирования сферы криптовалютных обменников.

Another Week, Another Bitcoin Buy: Strategy Adds 390 BTC

bitcoinist.com - Tue, 10/28/2025 - 12:00

Bitcoin treasury company Strategy has continued its routine of weekly BTC buys with a fresh acquisition worth $43.4 million.

Strategy Has Added Another 390 BTC To Its Bitcoin Reserves

As announced by Strategy co-founder and chairman Michael Saylor in an X post, the treasury company has made another expansion to its reserves. The latest purchase involved 390 BTC, acquired at an average price of $111,053 per token. In total, the buy cost the firm $43.4 million.

The acquisition follows one day after Saylor made the usual Sunday post with Strategy’s Bitcoin portfolio tracker. This time, the chairman used the caption, “It’s Orange Dot Day.”

According to the filing with the US Securities and Exchange Commission (SEC), the company funded the latest purchase using sales of its STRK and STRD at-the-market (ATM) stock offerings.

Following the buy, the Bitcoin treasury firm now holds 640,808 BTC with a cost basis of $47.44 billion. At the current exchange rate, these holdings are worth $73.93 billion, putting the company in a profit of about 55.8%

Last week, Strategy made an acquisition worth just $18.8 million, so this week’s buy is certainly a step up, but when compared to purchases from earlier in the year, it’s still not too significant.

CryptoQuant community analyst Maartunn has discussed in an X thread why Strategy’s accumulation has slowed down recently. Maartunn has noted that capital is becoming harder to raise for the company, as its equity issuance premiums have dropped from 208% to just 4%.

The firm’s stock price is also 50% down compared to its all-time high (ATH). Bitcoin itself is also trading below its ATH, but in its case, the drawdown is currently nowhere near as significant.

Although Strategy’s buying has seen a slowdown in terms of scale recently, it has nonetheless been regularly accumulating, cementing its place as by far the largest corporate Bitcoin holder in the world.

In some other news, the supply of the largest stablecoin in the world, USDT, has been witnessing some sharp growth, as Maartunn has pointed out in another X post.

From the above chart, it’s visible that USDT’s market cap has witnessed a highly positive 60-day change, indicating a large amount of capital has flowed into the stablecoin during the last two months. The growth has been sharp enough to be notably above the 30-day simple moving average (SMA). The analyst has noted that this kind of trend is “historically linked to short-term BTC upside.”

BTC Price

Bitcoin has enjoyed a recovery surge over the last couple of days as its price has returned to the $115,500 level.

Управляющий Народного банка Китая назвал криптовалюты угрозой для экономики

bits.media/ - Tue, 10/28/2025 - 11:37
Управляющий Народного банка Китая (НБК) Пань Гуншэн (Pan Gongsheng) заявил на конференции в Пекине, что регулятор продолжит бороться с криптовалютными спекуляциями внутри страны и сдерживать риски, связанные со стейблкоинами.

Best Crypto to Buy as Bitcoin Leverage Nears $40 Billion Before Fed Vote

bitcoinist.com - Tue, 10/28/2025 - 11:13

Quick Facts:

1⃣ Bitcoin open interest is closing in on the $40B mark, signaling growing bullish momentum across the crypto market.

2⃣ Markets are pricing in a 98% chance of a Fed rate cut, a move that could further fuel demand for risk-on assets like Bitcoin.

3⃣ As sentiment turns bullish, the best crypto to buy now are low-cap gems like $HYPER, $MAXI, and $M.

Bitcoin’s open interest, which tracks the total value of all open derivatives positions in Bitcoin futures, has historically always followed Bitcoin’s price – so much that it might even predict $BTC’s price.

It’s now closing in on the $40B mark, having risen sharply from around $35.3B after the October 10 liquidation event.

This is a strong indicator that the larger market has grown incredibly bullish on Bitcoin and crypto in general.

And perhaps the biggest reason behind this momentum is the upcoming Federal Reserve rate cut decision.

According to prediction market Polymarket, there’s a 98% chance the Fed will slash rates by 25 basis points, marking its second rate cut this year after last month’s cut.

The reason the market expects the Federal Reserve to cut rates is last week’s CPI and PMI data, both of which came in quite poor.

For instance, the U.S. inflation report for September showed CPI at 3%, which was lower than expected, suggesting that the economy is slowing down and possibly heading toward a recession.

And that is precisely why a rate cut now becomes necessary.

Clearly, this would be incredibly bullish for crypto, as reduced interest rates make borrowing cheaper – pushing investors to seek higher returns in risk-on assets like cryptocurrencies, which consequently become more attractive.

Looking for the best cryptos to buy now to make the most of this increasing bullishness? Consider grabbing presales, as they’re well-positioned to churn out outsized returns in a crypto rally.

1. Bitcoin Hyper ($HYPER) – Bringing Solana’s Speed, Scalability & Web3 to Bitcoin

Know what’s better than stacking up leveraged positions on Bitcoin to maximize your gains? Backing a $BTC-themed altcoin with the potential to become the next 1000x crypto.

Enter Bitcoin Hyper ($HYPER).

It’s a new Layer 2 solution for Bitcoin that integrates with the Solana Virtual Machine (SVM) to bring Solana-like speed, affordability, and Web3 compatibility to the Bitcoin blockchain.

$HYPER will execute thousands of transactions in parallel, finally solving one of Bitcoin’s long-standing issues – low throughput and transaction speed.

Currently, Bitcoin’s single-threaded processing system handles around 7 TPS, making it one of the slowest blockchains in the world.

By leveraging the SVM, developers will now be able to build smart contracts and decentralized applications (dApps) on Bitcoin without compromising its unmatched security.

This means you’ll soon be able to access high-speed DeFi trading apps, NFTs, DAOs, governance tools, lending, staking, and gaming dApps on Bitcoin.

To use these, you’ll need to convert your Layer 1 Bitcoin into wrapped, Layer 2-compatible tokens via Bitcoin Hyper’s non-custodial canonical bridge.

According to our $HYPER price prediction, the token could skyrocket after listing, potentially soaring 1,420% by the end of 2026 to around $0.20, up from its current $0.013185.

The project’s presale has already raised over $25M from early investors. Here’s a quick step-by-step guideon how to buy Bitcoin Hyper if you want to help build the next biggest L2 in crypto.

Ride the Bitcoin Web3 revolution – grab your $HYPER tokens today! 2. Maxi Doge ($MAXI) – Doge’s Nemesis & Cousin Gunning for 1000x Gains

Did you miss out on Dogecoin’s initial pumps? Well then, Maxi Doge ($MAXI) is one of the best cryptos to watch now.

It offers a rare opportunity to turn back the clock and ride the kind of massive rallies that Dog-themed cryptos like Dogecoin, Bonk, and Shiba Inu saw in their early days.

$MAXI is Dogecoin’s distant cousin, but despite its obvious resemblance to the OG meme coin, under the hood, Maxi isn’t – and doesn’t even want to be – anything like its cousin.

That’s because, growing up, Doge hogged all the spotlight wherever it went, even at family gatherings. So, Maxi grew up lonely and depressed.

To get revenge, $MAXI hit the gym, bulked up on caffeine shots and protein shakes, and spent day and night crafting the perfect plan to overthrow Dogecoin as the best meme coin on the planet.

Its master plan? To go viral and spread its gym-bro humor across the crypto landscape.

To fuel that mission, $MAXI has allocated a massive 40% of its total token supply for marketing, including influencer collaborations, social media blitzes, and PR campaigns.

On top of that, $MAXI also plans to list on futures platforms to boost visibility, ramp up trading volumes, and become the go-to meme coin for day traders looking to take leveraged bets and chase whale-like returns.

Here’s the kicker: If you buy $MAXI now, while it’s available for just $0.000265, you could potentially make a 2,000% ROI by the end of 2026 – according to our $MAXI price prediction. Only 18 more hours until the next price increase!

Join the $MAXI presale and join the ultimate meme coin revenge story. 3. MemeCore ($M) – Viral Meme Coin Aiming to Inject Utility Into Meme Coins

Having launched very recently – in July 2025 – MemeCore ($M) has quickly become one of the biggest meme coin success stories of all time.

It’s currently the fourth-largest meme coin in the world by market cap, and for good reason. It offers a never-before-seen ecosystem for meme coins, which it proudly refers to as Meme 2.0.

Under this vision, the plan is to transform memecoins from speculative, fun-loving, and engaging tokens into full-blown vehicles for community coordination, culture, and even value creation.

How will MemeCore achieve this? Through its novel Proof-of-Meme consensus layer, which rewards both cultural and on-chain participation.

The ultimate goal is to empower everyday users to launch their own meme coins, earn from the cultural contributions that follow, and build freely without any restrictions.

On the charts, $M looks super positive. It has recently broken out of a downward-sloping resistance line and now looks primed for a push toward its current all-time highs of around $3 – a chunky 35% gain from current levels.

That said, the last time MemeCore broke out of a similar downward-sloping resistance line, it skyrocketed over 500%.

And given that it’s still in its early stages, there’s a strong likelihood we could see something similar once again.

Interested? Grab your $M tokens on MEXC today.

Recap: With Bitcoin open interest climbing and signaling the potential start of the next crypto run-up, now’s the time to go shopping for the best altcoins – Bitcoin Hyper ($HYPER), Maxi Doge ($MAXI), and MemeCore ($M).

Disclaimer: Investments in crypto are highly risky, so kindly do your own research before investing. This article is not financial advice.

Authored by Krishi Chowdhary, Bitcoinist – https://bitcoinist.com/best-crypto-to-buy-as-bitcoin-leverage-nears-40b-before-fed-vote

Аналитики QCP Capital оценили перспективы крипторынка на ближайшее время

bits.media/ - Tue, 10/28/2025 - 11:12
Специалисты компании QCP Capital сообщили, что текущая неделя может стать решающей для крипторынка. Встреча президента США с председателем КНР Си Цзиньпинем (Xi Jinping) 30 октября определит траекторию криптовалют в краткосрочной перспективе.

Bank Of Korea Calls For Bank-Issued Stablecoins To Prevent Financial Risks

bitcoinist.com - Tue, 10/28/2025 - 11:00

The Bank of Korea (BOK) has urged lawmakers to adopt a bank-led model for stablecoin issuance ahead of the upcoming regulatory framework, warning that Korean Won (KRW)-pegged tokens could “repeat past monetary failures.”

BOK Raises Financial Stability Concerns

On Monday, the Bank of Korea released a 140-page report warning that stablecoins could unlock new possibilities for the Korean economy but could also “sow the seeds of new instability.”

According to local news media outlets, the central bank urged lawmakers to carefully review won-pegged digital assets ahead of the release of the long-awaited regulatory framework, listing multiple risks that these tokens could pose to financial and monetary stability.

As reported by Bitcoinist, Financial Services Commission (FSC) Chairman Lee Eun-won recently confirmed that the regulatory agency plans to submit the second phase of the Virtual Asset User Protection Act to the National Assembly this year, which will follow US regulatory steps and include a ban on stablecoin interest payment.

The BOK report affirmed that the promise behind stablecoin raises unrealistic expectations in the market, arguing that “The pledge of ‘1 coin equals 1 won’ is merely a private agreement between issuers and users and is not legally or institutionally guaranteed by the central bank.”

“If the issuer fails to keep the redemption promise, stablecoin holders, unlike bank depositors, are not protected under relevant laws,” the BOK added. It warned that these tokens are “prone to deppeging,” citing greater concerns for non-dollar stablecoins, where the risk is higher due to thinner liquidity.

Additionally, the central bank highlighted the gaps in consumer protection laws and the potential that these tokens could “enable regulatory evasion and capital flight, weaken the effectiveness of monetary policy and undermine banks’ traditional role as financial intermediaries.”

A Bank-Led Model For Won-Pegged Stablecoins

Amid the potential risks, the BOK considers that “trust is crucial to reliably support innovation, so institutional safeguards are necessary.” It reiterated that stablecoin issuance must be led and strictly regulated by banks to ensure reliability and public trust.

In July, BOK Governor Lee Chang-yong expressed concerns about the potential issuance of stablecoins pegged to the Korean Won by non-bank entities, arguing that they could confuse monetary policies and foreign exchange regulations.

“If banks become the main issuers of stablecoins, or if stablecoins are issued through bank-led consortia, many of these associated risks could be managed under the current regulatory framework,” the Monday report explained. “Non-banking companies, such as IT firms, can also participate in bank-centered consortia to drive innovation and growth.”

Notably, financial institutions in Korea have been preparing for two potential legalization scenarios over the past few months, as it has been unclear if non-bank entities will be allowed to issue the digital assets.

The sector has reportedly explored a business model in which banks establish a joint venture to collectively issue stablecoins, while also contacting various non-bank companies to prepare for the upcoming framework.

Kim Chul, head of the BOK’s Payment & Settlement Systems Department, stated that under this approach, regulators can closely monitor the sector’s scale and maintain stability, “allowing this new form of currency to take root within the formal financial system.”

Another BOK official added that “stablecoin legislation is moving quickly, and we hope this report serves as a key reference for those discussions.” Ultimately, the central bank called for a joint policy council among monetary, foreign exchange, and financial authorities.

В CoinGecko предупредили о новой мошеннической схеме с криптопутешествиями

bits.media/ - Tue, 10/28/2025 - 10:46
Сооснователь и гендиректор аналитической платформы CoinGecko Бобби Онг (Bobby Ong) предупредил о новой фишинговой афере, которую придумали мошенники для кражи криптовалют.

Strategy присвоен кредитный рейтинг «мусорных облигаций» из-за биткоина

bits.media/ - Tue, 10/28/2025 - 10:08
Международное рейтинговое агентство S&P Global присвоило компании Strategy кредитный рейтинг «B-». Рейтинг отнесен к спекулятивной, неинвестиционной категории, называемой «мусорными облигациями».

Ripple станет новой Уолл-стрит — Сэл Гилберти

bits.media/ - Tue, 10/28/2025 - 09:25
Гендиректор Teucrium Сэл Гилберти (Sal Gilbertie) объяснил, почему компания Ripple, выпускающая монету XRP, способна кардинально изменить мировую финансовую систему.

Chinese Central Bank Warns Of Crypto Loopholes In Global Regulation

bitcoinist.com - Tue, 10/28/2025 - 09:00

China’s central bank escalated its warning on stablecoins and reiterated a hard line against domestic crypto activity on Monday, with Governor Pan Gongsheng arguing that the rise of privately issued “virtual currencies”—particularly stablecoins—exposes gaps in global financial oversight and increases systemic fragility. Speaking at the opening of the 2025 Financial Street Forum in Beijing on October 27, Pan said stablecoins are still “at an early stage” but are already amplifying regulatory blind spots across borders and posing challenges to monetary sovereignty in weaker economies.

China Reaffirms Crypto Crackdown

Pan anchored his remarks in the policy debates that dominated the IMF/World Bank Annual Meetings held in Washington 10 days earlier, telling attendees that the prevailing view among finance ministers and central bank governors was that stablecoins, “as a financial activity, at this stage cannot effectively meet basic requirements in customer identification and anti-money-laundering,” thereby “magnifying loopholes in global financial regulation,” fueling “speculative hype,” increasing “the fragility of the global financial system,” and “impacting the monetary sovereignty of some underdeveloped economies.”

The governor coupled that assessment with a firm domestic enforcement posture: “Since 2017, the People’s Bank of China, together with relevant departments, has issued multiple policy documents to prevent and deal with risks from domestic crypto trading and speculation, and these documents remain effective. Next, the PBOC will work with law-enforcement authorities to continue cracking down on the operation and speculation of cryptocurrencies within China, maintain economic and financial order, and closely track and dynamically evaluate the development of offshore stablecoins.”

His statement effectively reaffirms the legal status quo—comprehensive restrictions on crypto trading and mining within China’s borders—while signaling ongoing surveillance of offshore instruments that touch Chinese users and firms.

Pan’s comments land at a moment when stablecoins have become embedded in cross-border commerce and crypto market plumbing, with dollar-pegged tokens dominating global volumes. They also intersect with a live policy debate inside China about whether and how to tolerate offshore, yuan-linked instruments to complement the official e-CNY.

Over the summer, major Chinese tech groups lobbied the PBOC to authorize an offshore, yuan-based stablecoin in Hong Kong to counter US dollar stablecoin dominance—an initiative that, if ever approved, would likely be ring-fenced from the mainland’s prohibitions.

For market participants, the signal is twofold. First, there is no domestic policy thaw for crypto trading or mining: the 2017–2021 crackdown architecture remains intact, and enforcement will be coordinated with police and other agencies.

Second, Chinese authorities are sharpening their scrutiny of offshore stablecoins used by exporters, importers, and savers, a vector that has grown as stablecoins have become de facto settlement media in parts of Asia and emerging markets. The central bank’s language—“continue cracking down” at home while “dynamically evaluating” offshore developments—suggests that any future experimentation will occur through official government channels rather than market-driven stablecoin adoption.

At press time, the total crypto market cap stood at $3.84 trillion.

Here’s Why Litecoin Is Rising To The Limelight Again: Is This The Future Of Crypto Payments?

bitcoinist.com - Tue, 10/28/2025 - 08:00

Litecoin (LTC) is stepping back into the spotlight, positioning itself as more than just a digital asset but a reliable medium for everyday transactions. Recent reports reveal that global investment giant T. Rowe Price has filed for a crypto ETF that includes LTC, proving its credibility beyond retail markets. Moreover, Litecoin’s unique attributes are drawing interest from institutional investors and digital cash advocates as blockchain networks compete for dominance. With developments highlighting its scalability and long-term reliability, Litecoin could soon emerge as a serious contender for the future of crypto payments.  

Institutional Moves Push Litecoin Back Into The Spotlight

Recent moves from major financial players suggest that Litecoin is finally being recognized as a legitimate, institutional-grade cryptocurrency. Crypto commentator Santolita highlighted in a recent X post that T. Rowe Price has filed for an Active Crypto ETF with the US Securities and Exchange Commission (SEC), explicitly naming it as an eligible commodity

This development signals that large-scale investors are beginning to acknowledge the broader crypto asset class, with Litecoin positioned as a resilient and reliable choice for crypto payments. Santolita notes in a follow-up post that, unlike projects chasing hype, Litecoin has maintained consistent merchant adoption and processed real transactions across market cycles.  

She disclosed that the crypto network boasts proven longevity and low-cost transactions, which make it an attractive option for both everyday users and investors seeking a dependable store of value. Santolita also stated that its organic, grassroots adoption further strengthens its position as a practical and utilitarian digital asset. 

The crypto commentator further described Litecoin as “digital silver,” highlighting its core functionality, which includes Peer-to-Peer digital cash with zero-cost payments, a fully decentralized ecosystem with significant industry supply and liquidity. She also noted that Litecoin boasts faster confirmation times and battle-tested security. All of which could be setting the altcoin up as a contender in the crypto payments industry

Advanced Network Capabilities Reinforce LTC Role In Crypto Payments

Beyond institutional recognition, Litecoin continues to attract significant interest for its operational efficiency and scalability as a crypto payments provider. Crypto analyst Sean points out that anyone seeking true control over their digital cash should consider holding LTC. 

His statement came in response to the Litecoin team’s post on X, which provided a technical foundation for why the digital asset excels in the crypto payments market. They noted that low transaction fees, well below $0.0007, make LTC an ideal vehicle for digital cash. They also highlighted that the network can handle up to 56 transactions per second (TPS), far exceeding its current daily load of around 200,000 transactions (2.5 TPS). 

The team explained that Litecoin’s network structure, including the merging of mining and consistent block rewards, ensures that LTC miners remain incentivized even as transaction volumes increase. Historical trends highlighted in the post further reinforce its utility as a crypto payments provider. 

According to the team, during Bitcoin’s congestion from October 2023 to October 2024, LTC handled a substantial increase in transactions with minimal cost, demonstrating the practicality of its design for real-world crypto payments. With more than 14 years of uninterrupted operation, fully decentralized mining, no founder’s stash, and strong volunteer-based support, the team emphasizes that the network remains secure, efficient, and accessible. 

Bitcoin’s Warning Realized: Iranian Bank Goes Bankrupt, Millions Affected

bitcoinist.com - Tue, 10/28/2025 - 07:00

Ayandeh Bank, one of Iran’s largest private lenders, was formally shut down by regulators on October 23, 2025, leaving millions exposed to uncertainty — a moment that revived talk about Bitcoin’s original warning against trusting banks too much.

The Central Bank revoked the bank’s license after finding massive capital shortfalls and risky lending tied to a small group of insiders. The move has shaken confidence in a system already under strain.

Regulator Moves To Protect Depositors

According to the Central Bank, Ayandeh’s branches and customer accounts will be absorbed by state-owned Bank Melli Iran and depositors will be able to access their funds from October 25.

Reports have disclosed that roughly 42 million customers could be affected by the transfer. Officials say the jobs of many branch staff will continue under the new banner, and that ordinary savers’ deposits are guaranteed by the state. Still, the scale of the intervention has left many account holders anxious.

One of Iran’s biggest banks is bankrupt

“…Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone.

But it had more recently been crippled by debt, with accumulated losses amounting to the equivalent of about… pic.twitter.com/CkBwmioodj

— kristen shaughnessy (@kshaughnessy2) October 26, 2025

Massive Losses And Overdrafts Revealed

Based on reports from financial monitors, Ayandeh carried losses of about 5.5 quadrillion rials, roughly $5.1 billion, and overdrafts amounting to about 3.13 quadrillion rials, or close to $3 billion.

One regulator described the bank’s capital adequacy ratio as deeply negative, with figures cited near -600%. Banking supervision officials have said that more than 90% of the bank’s funds were tied to related parties and large construction projects, which left the balance sheet dangerously concentrated.

The collapse has been blamed on poor governance and risky lending practices. Ghani-Abadi, a senior official in banking supervision, said the bank allocated most of its money to groups linked to its own management. That statement added to a sense that internal controls had failed over many years.

A Sector Under Strain

Regulators have warned that several other banks could face trouble if reforms are not pushed through. Some statements have pointed to at least eight banks showing signs of distress, fueling online chatter that Bitcoin’s appeal grows stronger each time a traditional bank stumbles.

Economic pressure from sanctions, limited access to international markets, and a weakening currency have left Iran’s banking system vulnerable. Analysts warn that the state’s step to take on Ayandeh’s liabilities will raise the fiscal burden and could force tighter oversight elsewhere.

Public Reaction And The Wider Impact

There is talk among savers and market watchers that the bank’s collapse may push some people toward alternatives, including foreign currency holdings or crypto, as a hedge against local bank risk.

That view is reported more as public sentiment than as a confirmed shift. Depositors’ immediate concern is access to cash and whether service interruptions will follow during the migration to Bank Melli’s systems.

Bitcoin To The Rescue?

Reports suggest some Iranians are turning to crypto after Ayandeh’s collapse, viewing it as a safer place for savings. While there’s no clear data yet, the bank’s failure revived old arguments that digital assets offer shelter from financial mismanagement and currency loss.

For many, it’s a reminder of why Bitcoin was created in the first place — to operate outside failing banks.

Featured image from Gemini, chart from TradingView

Japan’s First Yen-Backed Stablecoin Launches With 0% Fees

bitcoinist.com - Tue, 10/28/2025 - 06:00

Japanese startup JPYC has launched the first stablecoin pegged to the yen, backed by domestic savings and Japanese government bonds.

JPYC Is The First Yen-Backed Stablecoin In The World

JPYC announced on Monday the launch of its yen-backed stablecoin, also called “JPYC.” A stablecoin is a cryptocurrency pegged to a fiat currency, and at present, the sector is heavily dominated by tokens tied to the US Dollar, with USDT and USDC alone accounting for the majority of the market.

Japan is now also dipping into the space with this new stablecoin. According to JPYC, the token will be backed 1:1 by domestic deposits and Japanese government bonds (JGBs). Users can buy or sell the asset through JPYC EX, the Japanese startup’s official platform. The company is offering zero fee on issuance and redemption for now, instead turning to the interest from the JGBs as a source of income.

The token is initially becoming available on Ethereum, Avalanche, and Polygon, with support for additional blockchains planned. According to Reuters, JPY is aiming to issue 10 trillion yen worth of the stablecoin over the next three years. At the current rate, this target is equivalent to about $65.5 billion.

USDC, the second-largest fiat-tied token in the sector, has a market cap of about $76.3 billion right now. Thus, if JPYC meets its ambitious target, it could potentially rival the USD-ruled stablecoin market. The JPYC launch isn’t the only stable-related development that has occurred in Japan recently. As reported by Bitcoinist, three Japanese megabanks are planning to issue a yen-backed token by the end of 2025.

The banks in question are Mitsubishi UFJ Financial Group (MUFG) Bank, Sumitomo Mitsui Banking Corp., and Mizuho Bank. Together, they serve over 300,000 clients.

Institutional interest in cryptocurrencies has been rising in the East Asian country recently as the government is considering a regulatory rule change that would allow banks to hold Bitcoin and other digital assets for investment purposes, and register themselves as “crypto exchange operators,” becoming able to offer trading services to customers.

While Japan has been moving in a crypto-positive direction, China has remained cautious, offering impediments to stablecoin plans in Hong Kong, according to Financial Times.

The Chinese city launched its stablecoin legislation earlier in the year and received enquiries from multiple tech giants for an issuer license. Mainland regulators, however, have urged the companies to halt their plans, raising concerns about the growth of currencies controlled by the private sector.

Globally, digital assets pegged to fiat currencies have continued to enjoy capital inflows recently despite Bitcoin and altcoins facing volatility. As the chart shared by institutional DeFi solutions provider Sentora shows, the sector has seen its market cap break a record of $308 billion.

Bitcoin Price

At the time of writing, Bitcoin is trading around $115,200, up nearly 4% over the last week.

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