Fintech companies Taurus and Parafin have partnered to deliver blockchain infrastructure to financial institutions in Europe and Latin America — a move aimed at accelerating the adoption of crypto custody and settlement services across both regions.

As part of the partnership, Taurus has integrated its product suite into Parafin’s institutional platform, creating an end-to-end solution for digital asset management, including custody, governance, and compliant token issuance, the companies announced on May 27.

Financial institutions using the integrated Taurus-Parafin solution will gain access to custody and tokenization services, real-time wallet execution and a full range of trading capabilities.

Taurus is an enterprise digital asset custody and tokenization solution that enables businesses to issue, store and trade a range of crypto products. 

Parafin, by contrast, is not a blockchain-native company; instead, it offers financial infrastructure and merchant services for small businesses. In December, the company was valued at $750 million following a $100 million late-stage funding round. 

Taurus said the Parafin partnership gives it deeper inroads into Latin America, a region known for its heightened crypto adoption. 

Crypto transactions are on the rise in Latin America. Source: Chainalysis

Related: Turkish digital bank Bankpozitif to debut crypto custody with Taurus

Institutional interest in Bitcoin and crypto is growing

While the relationship between financial institutions and digital assets has been complex and evolving, a wave of positive regulatory developments in the US and globally has spurred broader adoption.

Banks are increasingly offering custody services for digital assets, while some institutions now facilitate crypto trading and investment. Several large banks, including JPMorgan, have also experimented with blockchain technology. 

A significant turning point came in April, when the US Federal Reserve eased restrictions on financial institutions engaging in cryptocurrency activities. Bitcoin (BTC) advocate Michael Saylor called the move a major milestone for banks looking to support digital assets.

On May 23, The Wall Street Journal reported that a group of major banks, including Bank of America, Wells Fargo, Citigroup and JPMorgan, has been discussing potentially issuing a stablecoin. 

If you can’t beat them, join them? An excerpt from NYU professor Austin Campbell’s recent X post claiming that the US banking lobby is “panicking” about yield-bearing stablecoins. Source: Austin Campbell

The report surfaced amid rising speculation that the US banking sector sees yield-bearing stablecoins as a potential threat to its traditional business models.

Related: Institutional Bitcoin buying may soon price out retail — LONGITUDE panel

Fintech companies Taurus and Parfin have partnered to deliver blockchain infrastructure to financial institutions in Europe and Latin America — a move aimed at accelerating the adoption of crypto custody and settlement services across both regions.

As part of the partnership, Taurus has integrated its product suite into Parfin’s institutional platform, creating an end-to-end solution for digital asset management, including custody, governance, and compliant token issuance, the companies announced on May 27.

Financial institutions using the integrated Taurus-Parfin solution will gain access to custody and tokenization services, real-time wallet execution and a full range of trading capabilities.

Taurus is an enterprise digital asset custody and tokenization solution that enables businesses to issue, store and trade a range of crypto products. 

Parfin, by contrast, is not a blockchain-native company; instead, it offers financial infrastructure and merchant services for small businesses. In December, the company was valued at $750 million following a $100 million late-stage funding round. 

Taurus said the Parfin partnership gives it deeper inroads into Latin America, a region known for its heightened crypto adoption. 

Crypto transactions are on the rise in Latin America. Source: Chainalysis

Related: Turkish digital bank Bankpozitif to debut crypto custody with Taurus

Institutional interest in Bitcoin and crypto is growing

While the relationship between financial institutions and digital assets has been complex and evolving, a wave of positive regulatory developments in the US and globally has spurred broader adoption.

Banks are increasingly offering custody services for digital assets, while some institutions now facilitate crypto trading and investment. Several large banks, including JPMorgan, have also experimented with blockchain technology. 

A significant turning point came in April, when the US Federal Reserve eased restrictions on financial institutions engaging in cryptocurrency activities. Bitcoin (BTC) advocate Michael Saylor called the move a major milestone for banks looking to support digital assets.

On May 23, The Wall Street Journal reported that a group of major banks, including Bank of America, Wells Fargo, Citigroup and JPMorgan, has been discussing potentially issuing a stablecoin. 

If you can’t beat them, join them? An excerpt from NYU professor Austin Campbell’s recent X post claiming that the US banking lobby is “panicking” about yield-bearing stablecoins. Source: Austin Campbell

The report surfaced amid rising speculation that the US banking sector sees yield-bearing stablecoins as a potential threat to its traditional business models.

Related: Institutional Bitcoin buying may soon price out retail — LONGITUDE panel

Circle, the issuer of USDC, the second-largest stablecoin by market capitalization, has launched an initial public offering (IPO) of 24 million shares of its Class A common stock, the company said on May 27.

The firm has applied to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. As part of the offering, Circle is issuing 9.6 million shares of Class A common stock, the company said in a news release.

The remaining 14.4 million shares of Class A common stock will be offered by selling stockholders. Circle is also expected to grant the underwriters a 30-day option to buy up to an additional 3.6 million shares of Class A common stock to cover over-allotments.

The IPO involves participation from several major US investment banks, with JPMorgan, Citigroup and Goldman Sachs acting as joint lead active bookrunners, the announcement added.

An excerpt from the title page of Circle’s Form S-1 IPO filing. Source: SEC

The offering will also feature European banks, including Barclays, Deutsche Bank Securities and Societe Generale acting as bookrunners.

The IPO’s co-managers include BNY Capital Markets, Canaccord Genuity, Needham, Oppenheimer and Santander, while junior co-managers are AmeriVet Securities, Drexel Hamilton, Mischler Financial Group and Roberts and Ryan.

IPO price between $24 and $26 per share

Circle currently expects to offer IPO shares at a price ranging from $24 to $26 per share, potentially raising between $576 million and $624 million.

In its Form S-1 filing on Tuesday, Circle said it will not receive any proceeds from the sale of shares of Class A common stock by the selling stockholders.

“The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering,” Circle noted.

The company said the shares may not be sold prior to the time the registration statement becomes effective. Crypto-focused investors like Cathie Wood’s ARK Invest have indicated an interest in purchasing up to $150 million of IPO shares, Circle noted in the filing, adding:

“However, because indications of interest are not binding agreements or commitments to purchase, the underwriters could determine to sell more, fewer or no shares to any of these potential purchasers, and any of these potential purchasers could determine to purchase more, fewer or no shares in this offering.”Circle reportedly targets a $6.7 billion valuation

According to a report by Reuters, Circle targeted a valuation of up to $6.71 billion on a fully diluted basis in its IPO offering.

The firm previously attempted to go public through a blank-check deal with the special purpose acquisition company Concord in 2021. Initially targeting a preliminary valuation of $4.5 billion, the deal was amended to place Circle at a $9 billion valuation, with the firm eventually terminating the deal by late 2022.

Cointelegraph approached Circle for a comment regarding the company’s valuation in the IPO, but had not received a response at the time of publication.

Main competitor Tether “doesn’t need an IPO”

“For Circle, becoming a publicly traded corporation on the New York Stock Exchange is a continuation of our desire to operate with the greatest transparency and accountability possible,” Circle co-founder and CEO Jeremy Allaire wrote in a letter accompanying the Form S-1.

“Operating as a US-listed public company represents our continued dedication to transparency and accountability, as we will become subject to the reporting, corporate governance, and other requirements,” he added.

Related: eToro aims for $4B valuation, $500M raise for US IPO

Founded in 2013, Circle is a major company in the crypto industry, known as the issuer of USDC (USDC), the second-largest stablecoin by market capitalization after Tether’s USDt (USDT).

The top three stablecoins by market capitalization. Source: CoinGecko

At the time of writing, USDC has a market cap of $61.5 billion, while its main competitor, USDT, has a $152.7 billion market cap, according to CoinGecko.

Though a significantly bigger player than Circle, El Salvador-based Tether is apparently not looking to launch an IPO.

“Tether doesn’t need to go public,” Tether CEO Paolo Ardoino said in an X post in April.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Update (May 27, 3:00 pm UTC): This article has been updated to add a comment by Gemini’s head of Europe.

The United Kingdom is leading the world in increasing cryptocurrency ownership among its population in 2025, outpacing economies including the United States, according to a new study by Gemini.

Gemini, the US-based crypto exchange founded by Cameron and Tyler Winklevoss, on May 27 released its latest “State of Crypto” report, giving insights into changes in the global adoption of cryptocurrencies like Bitcoin (BTC).

Based on a survey of 7,200 adults across the US, Europe, Singapore and Australia, the report found that Europe has been leading the way in growing crypto ownership, with the UK in front.

The UK saw the biggest year-over-year growth in crypto ownership of the surveyed nations, with the share of respondents indicating crypto holdings rising to 24% as of April from 18% last year, Gemini said in the report shared with Cointelegraph.

Crypto sees highest ownership in Singapore

While the UK has reportedly seen an increase in new crypto owners, it’s yet to reach the world’s top crypto ownership rate.

According to Gemini’s report, Singapore has been the top country globally for crypto ownership in the past two years, with 28% of local survey respondents saying they were invested in crypto as of April. In 2024, that share was 26%.

Crypto ownership percentage in the US, UK, France, Singapore, Italy and Australia. Source: Gemini

Some European countries have picked up the pace, with 21% of French respondents reporting owning crypto in 2025, up from 18% in 2024. In the US, the indicator grew to 22% from 21%.

Overall crypto ownership rate in the US, UK, France and Singapore increased to 24% by April from 21% last year, suggesting that nearly one in four now own crypto globally.

Implications of the EU’s MiCA regulation?

According to Gemini, the rise of global crypto ownership in the past few years may be attributed to the impact of the Trump administration’s policies on overall positive sentiment following the bear market of 2022.

“In particular, crypto ownership in France and the UK increased, reflecting a warming regulatory environment for digital assets in Europe,” the report said, referring to the rollout of the European Union’s Markets in Crypto-Assets Regulation (MiCA).

Related: UK to become ‘safe harbor’ for crypto with new draft rules — Experts

However, the UK has yet to adopt a national regulatory framework for cryptocurrency.

An excerpt from the UK’s draft statutory instrument for crypto regulation. Source: Gov.uk

In April, the UK government published a draft statutory instrument (SI) aimed at regulating crypto exchanges, dealers and agents in order to bolster consumer protection and ensure operational resilience.

After conducting a public consultation with last entries accepted before May 23, the UK Treasury expects to finalize the “near-final version” of the SI later this year.

UK’s soaring crypto ownership: Why?

The UK’s sharp spike in crypto ownership reflects the country’s status as a “central financial hub for many decades,” Gemini’s head of Europe, Mark Jennings, told Cointelegraph.

Such a status recognizes the maturity of the market and reasons why investors are keen to get involved in crypto, Jennings noted.

“Outside of the US, the UK had the highest rate of non-crypto owners who responded that the Strategic Bitcoin Reserve made them more confident in the value of crypto, showing the positive influence that a pro-crypto US administration has had on the UK,” he added.

Jennings also suggested that MiCA would still likely grow outside of its regulatory scope and have an impact on adjacent countries despite not having a direct effect on the UK.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Key takeaways:

Bitcoin’s RSI has dropped 15% and is now below the overbought threshold.

Bitcoin futures flip bearish with a 43% decline in perpetual CVD.

Analysts predict Bitcoin could reach $150,000 as long as a key support level holds.

Bitcoin’s (BTC) price hit fresh all-time highs of nearly $112,000 on May 23, gaining 50% from its April 1 lows. According to analysts, BTC price is now “showing signs of easing momentum” as it consolidates. 

Bitcoin’s rally to $111K triggered buyer fatigue

BTC’s recent run to $111,000 pushed the daily relative strength index (RSI) into the overbought zone at 79.6. However, “signs of easing momentum” have emerged as the RSI dropped by 15% to 67, said market intelligence firm Glassnode in its latest report, adding:

“This decline may signal cooling buyer enthusiasm, reduction in upward momentum and a potential pause or reversal in the recent bullish trend.”Bitcoin: 14-day RSI. Source: Cointelegraph/TradingView

Additional data from Glassnode shows that while Bitcoin futures open interest (OI) rose to all-time highs and funding rates increased with BTC’s all-time highs, the perpetual CVD trended lower, hinting at “stronger sell-side flows” and a more cautious stance among traders.

Related: Bitcoin stalls at $110K but institutional investors continue gobbling up BTC

The chart below shows that Bitcoin’s perpetual CVD has dropped significantly to -$608.2 million from -$425.4 million, marking a 43% decrease.

Glassnode added:

“The persistent decline in CVD reflects bearish sentiment, highlighting dominant sell-side pressure in Bitcoin’s futures market.”Bitcoin: Perpetual CVD. Source: GlassnodeBitcoin traders set $150,000 BTC price target

Data from Cointelegraph Markets Pro and TradingView showed Bitcoin trading at $109,600 on May 27. BTC price has closed above $106,000 the last seven days, reinforcing the importance of this level to buyers.

“Bitcoin is still holding above the 106K level,” said analyst AlphaBTC in a May 27 post on X.  

An accompanying chart showed Bitcoin trading in an ascending channel in the 12-hour timeframe, with a BTC price target above $120,000.

In a May 22 X post depicting a similar technical setup, AlphaBTC said:

“After taking the all-time high, I am watching how $BTC performs over the next couple of days. Ideally, it blasts up and shows strength to leave the breakout to be tested in the future.”BTC/USD 12-hour chart. Source: AlphaBTC

MN Capital founder Michael van de Poppe said Bitcoin is “looking to attack” all-time highs, but it could retest the $102,000 level before relaunching higher toward $115,000 and beyond. He added:

“Up we go.”

Using Fibonacci retracement levels, Titan of Crypto predicted a cycle top of $135,000 for BTC price if it repeated a 2024 pattern in the weekly timeframe. 

#Bitcoin 100% Fibonacci Extension at $135,000 🎯#BTC is replicating the same pattern. pic.twitter.com/m18vvBaYDQ

— Titan of Crypto (@Washigorira) May 27, 2025

Fellow analyst Rekt Capital shared his Bitcoin price discovery roadmap, showing that BTC was “transitioning into Price Discovery Uptrend 2,” as shown in the chart below.

This is similar to BTC’s price action between January 2024 and March 2024, when BTC/USD rallied more than 91% to its previous all-time highs above $73,000. According to the analyst, if the same scenario were to play out, BTC could reach its next peak of around $150,000.

BTC/USD weekly chart. Source: Rekt Capital 

As Cointelegraph reported, Bitcoin is looking for its next catalyst to reach the target of $155,000 after successfully retesting the key level at $106,000.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Luxembourg classified virtual asset service providers (VASPs) as high-risk entities for money laundering in its 2025 National Risk Assessment (NRA), highlighting concerns over the crypto industry’s exposure to financial crime.

According to the report, the inherent risk level of VASPs is deemed “High,” driven by factors including transaction volume, client reach, distribution channels, legal structures and the international scope of operations.

The NRA identified VASPs as an emerging risk in its 2020 report after “a detailed assessment of ML inherent risks emerging from virtual assets.” This was followed by a 2022 NRA report deeming “the risks associated with crypto assets and virtual currencies as very high,” because, among other things, they are internet-based and cross-border.

Related: Blender and Sinbad operators face US money laundering charges

EU’s evolving crypto regulation

The European Union, of which Luxembourg is a founding member, has been working to regulate the cryptocurrency industry. A key part of this effort is the Markets in Crypto-Assets (MiCA) framework, which is designed to unify crypto regulation across all 27 EU member states.

Since January, crypto asset service providers have started acquiring licenses to operate legally within the EU. In May, cryptocurrency exchange Kraken launched regulated derivatives trading, and competitor Crypto.com secured a license allowing it to do the same.

MiCA also establishes a new set of requirements for stablecoins. The stablecoin market leader behind USDt (USDT), Tether, refuses to comply with the new rules and was delisted on Crypto.com, Coinbase and leading crypto exchange Binance on their EU platforms.

Related: French prosecutors probe Binance over money laundering, fraud allegations: Report

Money laundering with crypto

As the role of cryptocurrencies in the broader financial ecosystem increases, so does their popularity for money laundering. Earlier this month, Hong Kong police arrested 12 people involved in a cross-border money laundering scheme that relied on crypto and over 500 stooge bank accounts to launder 118 million Hong Kong dollars ($15 million).

Crypto value received by illicit addresses per year. Source: Chainalysis

According to reports this month, European law enforcement arrested 17 suspects of a “mafia crypto bank” for allegedly laundering over 21 million euros ($23.5 million) in crypto for Middle East and China-based criminal entities. As a result of the proceedings, 4.5 million euros ($5 million) worth of items were seized, including cash, crypto, 18 vehicles, four shotguns and several electronic devices.

Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express

Japanese investment firm Metaplanet’s Bitcoin premium has reached almost $600,000 per coin, as Asia’s leading Bitcoin treasury firm pushes forward with its plan to purchase 21,000 BTC by 2026.

Metaplanet’s stockholders are paying more than a fivefold premium on Bitcoin (BTC) when investing in the Japanese company, according to a report by 10x Research published on May 27.

“A little-known Japanese stock trades as if Bitcoin were worth $596,154, more than five times its actual price,” the report states.

Investors who don’t understand the importance of a firm’s net asset value (NAV) may be “dramatically overpaying for their Bitcoin exposure” on a position that doesn’t provide additional upside leverage, the report adds.

The NAV represents the per-unit price of a fund, calculated by dividing the fund’s total assets minus its liabilities by the number of outstanding shares.

Related: $1M Bitcoin by 2030: Big names predict massive debt-driven BTC rally

Despite the significant premium, Bitcoin treasury firms like Metaplanet and Strategy are important for Bitcoin’s mass adoption, as entities that are front-running “global hyperbitcoinization,” a potential $200 trillion market opportunity, according to Adam Back, co-founder and CEO of Blockstream and the inventor of Hashcash.

Source: Adam Back

Metaplanet is Asia’s largest and the world’s 10th-largest corporate Bitcoin holder, with over 7,800 BTC worth $855 million, representing 0.037% of the total supply, Bitbo data shows.

The report comes nearly two weeks after Metaplanet purchased 1,004 BTC for $104.6 million on May 19, marking its second-largest investment to date.

Largest corporate Bitcoin holders. Source: Bitbo

Despite the fivefold premium, proxy stocks are becoming more attractive to retail investors, as Bitcoin’s high price tag is discouraging direct retail participation, according to 10x Research CEO and head of research, Markus Thielen.

“Retail is only like 7% of the Bitcoin market, and that peaked toward December 2023,” Thielen told Cointelegraph, adding that retail investors “tuned out” from Bitcoin when it first crossed the $45,000 mark, which is the average cost of a new car in the US.

Related: Bitcoin’s new highs may have been driven by Japan bond market crisis

Investors are paying a Bitcoin premium due to a lack of education

Other Bitcoin treasury firms are also trading at significant markups compared with spot Bitcoin prices.

Metaplanet, MicroStrategy premium, compared to Bitcoin. Source: 10X Research

Michael Saylor’s Strategy is currently trading at an implied Bitcoin price of $174,100, a premium which “isn’t extreme but still significant,” the report notes, adding:

“Every time MicroStrategy issues new shares to retail investors—shares backed by Bitcoin worth only a fraction of the stock price—the company pockets the difference and frames it as Bitcoin yield.” 

While existing shareholders “cheer this on,” this may dilute the NAV per share over time, which is a cost “borne entirely by the new shareholders,” the report states.

Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest, May 11 – 17

Japanese investment firm Metaplanet’s Bitcoin premium is almost $600,000 per coin, as Asia’s leading Bitcoin treasury firm pushes forward with its plan to purchase 21,000 BTC by 2026.

Metaplanet’s stockholders are paying a more than fivefold premium on Bitcoin’s (BTC) price when investing in the Japanese company, according to a report by 10x Research published on May 27, which wrote:

“A little-known Japanese stock trades as if Bitcoin were worth $596,154, more than five times its actual price.”

Investors who don’t understand the importance of a firm’s net asset value (NAV) may be “dramatically overpaying for their Bitcoin exposure,” on a position that doesn’t provide additional upside leverage, said the report.

The NAV represents the per-unit price of a fund, calculated by dividing the fund’s total assets minus its liabilities by the number of outstanding shares.

Related: $1M Bitcoin by 2030: Big names predict massive debt-driven BTC rally

Despite the significant premium, Bitcoin treasury firms like Metaplanet and Strategy are important for Bitcoin’s mass adoption, as entities that are front-running “global hyperbitcoinization,” a potential $200 trillion market opportunity, according to Adam Back, co-founder and CEO of Blockstream and the inventor of Hashcash.

Source: Adam Back

Metaplanet is Asia’s largest and the world’s 10th-largest corporate Bitcoin holder, with over 7,800 BTC worth $855 million, representing 0.037% of the total supply, Bitbo data shows.

The report comes nearly two weeks after Metaplanet purchased 1,004 BTC for $104.6 million on May 19, marking its second-largest investment to date, Cointelegraph reported.

Largest corporate Bitcoin holders. Source: Bitbo

Despite the fivefold premium, proxy stocks are becoming more attractive to retail investors, as Bitcoin’s high price tag is discouraging direct retail participation, according to 10x Research’s CEO and head of research, Markus Thielen.

“Retail is only like 7% of the Bitcoin market, and that peaked toward December 2023,” Thielen told Cointelegraph, adding that retail investors “tuned out” from Bitcoin when it first crossed the $45,000 mark, which is the average cost of a new car in the US.

Related: Bitcoin’s new highs may have been driven by Japan bond market crisis

Investors are paying a Bitcoin premium due to a lack of education

Other Bitcoin treasury firms are also trading at significant markups compared with spot Bitcoin prices.

Metaplanet, MicroStrategy premium, compared to Bitcoin. Source: 10X Research

Michael Saylor’s Strategy is currently trading at an implied Bitcoin price of $174,100, a premium which “isn’t extreme but still significant,” wrote the report, adding:

“Every time MicroStrategy issues new shares to retail investors—shares backed by Bitcoin worth only a fraction of the stock price—the company pockets the difference and frames it as Bitcoin yield.” 

While existing shareholders “cheer this on,” this may dilute the NAV per share over time, which is a cost “borne entirely by the new shareholders,” added 10X Research’s report.

Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest, May 11 – 17

Crypto exchange Bitget has entered the expanding market for crypto investment products with the launch of BGUSD, a yield-bearing stable asset backed by tokenized real-world assets.

The company announced that BGUSD offers an annual yield of 4%, which is credited daily to users’ spot accounts. Subscriptions to BGUSD can be made using either USDC (USDC) or USDt (USDT), and the asset is redeemable back to USDC on demand.

The company said the yield is derived from a basket of tokenized instruments, including US Treasury bills and high-grade money-market funds. “These assets are managed via partnerships with regulated institutional tokenization providers such as Superstate,” Bitget CEO Gracy Chen told Cointelegraph.

The product’s structure is designed to reduce exposure to crypto volatility while delivering returns through traditional financial instruments. 

Bitget to roll out third-party attestations

In response to questions about transparency, Chen said that Bitget is preparing to roll out third-party attestations to provide visibility into BGUSD’s asset backing.

“Transparency and accountability are core principles of BGUSD’s framework,” she said. “While independent attestations are in the works, our institutional partners are already subject to rigorous audit requirements and regulatory oversight.”

Chen clarified how Bitget maintains liquidity for users who want to redeem BGUSD. The executive said Bitget directly manages the reserve pool, which includes stable, on-hand assets like USDC. 

According to Chen, BGUSD does not fall under the definitions of a stablecoin or a security and is not subject to specific licensing requirements.

“It’s structured as a yield-bearing stable asset certificate that’s exclusive to the Bitget platform,” Chen told Cointelegraph.

Chen added that Bitget will limit access to BGUSD in jurisdictions where digital asset restrictions apply.

Related: Stablecoins’ dominance due to limitations of US banking — Jerald David

Yield-bearing stablecoins surge to $11 billion

Bitget’s move into yield-bearing stablecoins comes as the asset class has surged to $11 billion. According to a Pendle report, yield-bearing stablecoins climbed from $1.5 billion at the start of 2024 to $11 billion as of May 21. This represents 4.5% of the entire stablecoin market. 

The growth of yield-bearing stablecoins is attributed to increasing regulatory clarity in the United States under President Donald Trump’s administration.

According to a Feb. 18 filing, the US Securities and Exchange Commission (SEC) approved exchange operator Figure Markets’ interest-bearing stablecoin. This made the company the first to receive US approval for a yield-bearing stablecoin. 

Apart from a favorable response from the SEC, proposed bills like the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) also signal a positive direction for stablecoins in the US. 

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story

Blockchain.com is stepping up its presence in Africa, targeting markets where governments are beginning to implement crypto regulations.

The UK-based exchange plans to open a physical office during the second quarter in Nigeria — its “fastest-growing market” in West Africa — along with broader expansion efforts in Ghana, Kenya and South Africa, according to a May 27 report by Bloomberg.

“Nigeria has taken meaningful steps toward creating a clear framework for crypto,” Owenize Odia, Blockchain.com’s general manager for Africa, reportedly said.

The move comes as global sentiment shifts, including political tailwinds from the United States, where President Donald Trump’s pro-crypto stance has encouraged industry expansion.

Related: Hedera Africa Hackathon launches with $1M prize pool and Web3 focus

Nigeria and Ghana lead in crypto regulation

While cryptocurrency trading remains restricted in many African countries, some, including Nigeria and Ghana, are taking steps toward creating legal frameworks for exchanges.

Odia said the company is prioritizing a license application in Nigeria, which recently enacted a new securities law covering digital assets.

Ghana’s central bank released draft guidelines indicating plans to begin regulating crypto platforms by September 2025, while Kenya is still in the research phase.

Crypto exchange blockchain.com. Source: Blockchain.com

Odia added that such signals of regulatory intent are key to Blockchain.com’s expansion decisions. The exchange sees the region’s youthful population and currency instability as factors fueling crypto adoption.

Cointelegraph reached out to Blockchain.com for comment but did not receive a response by publication.

Blockchain.com claims 37 million verified users, 92 million wallets and over $1 trillion in transaction volume, according to its website.

In 2022, Blockchain.com closed a funding round that saw its valuation spike from $5.2 billion to $14 billion less than two months before the collapse of Do Kwon’s Terra ecosystem.

However, a $110 million Series E financing round in 2023 more than halved its 2022 valuation

Related: Ethiopia in the global Bitcoin mining spotlight: AMA with UMINERS

South Africa leads in crypto race

South Africa is emerging as a frontrunner in Africa’s crypto race, with the country positioning itself as a regional hub for digital assets.

According to Ben Caselin, chief marketing officer at Johannesburg-based crypto exchange VALR, South Africa’s strong legal infrastructure and business-friendly environment make it an ideal launchpad for crypto companies looking to expand across the continent.

In a September 2024 interview with Cointelegraph, Caselin emphasized that regulatory clarity is a major factor drawing both local and international players to South Africa.

Momentum continues to build, with the Financial Sector Conduct Authority (FSCA) approving 59 crypto platform licenses by March 2024, as over 260 applications remain under review.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story