Samsung is poised to become a dominant stablecoin distributor, analysts say

By doing so, Samsung Wallet becomes the foundation for an interconnected financial ecosystem across Galaxy devices and services — where it combines payments, rewards, and digital assets into a single unified experience, he said.  If it follows through, over 800 million would potentially have access to Galaxys stablecoin features and other crypto without requiring a separate crypto app or exchange account. Already, there are over one billion active Samsung smartphones worldwide.  Stablecoins and infrastructure  During its Q2 earnings call last week, Samsung SDS CEO Lee Jun-hee said that the companys stake in crypto exchange Upbit operator Dunamu is a strategic investment to enter the digital asset infrastructure business, including stablecoins and AI-powered payments.  Three Samsung affiliates agreed in May to acquire a 4% stake in Dunamu, the operator of South Koreas largest cryptocurrency exchange, Upbit, for $408 million. Samsung Securities, Samsung SDS and Samsung Card are the affiliates involved in the deal.  “This is the other half of the same strategy, and from a deal perspective, it is the more telling half,” said Goh. “The wallet announcement secured distribution; SDS and Dunamu will secure the infrastructure beneath it.”  Goh said he believes Samsung is aiming to build the infrastructure itself, rather than rely on a third-party

08-05انڈسٹری

BNY taps Galaxy for institutional crypto staking

BNY is adding Galaxys staking infrastructure to its digital asset custody platform, giving eligible institutional clients access to custody and staking through one servicing model.  SummaryGalaxy will provide institutional stakingthrough BNYs Digital Asset Custody platform.The service remains subject to regulatory reviewand will be limited to eligible clients.BNY is also developing onchain transfer agency and tokenized Treasury infrastructure.BNYs Belgian subsidiary recently received MiCA authorizationfor crypto custody and transfers.  BNY adds staking to institutional crypto custody  Galaxy said it has entered a strategic collaboration with BNY to integrate staking into the banks Digital Asset Custody platform. The arrangement will combine asset safekeeping and staking within a single institutional workflow.  Eligible clients will be able to use staking alongside BNY services such as fund accounting, tax reporting, payments and client reporting, where applicable. Galaxy will supply the staking infrastructure and act as a design partner for BNYs broader digital asset platform.  The companies said the model could simplify institutional participation in proof-of-stake networks by reducing the need to coordinate between separate custody and staking providers. Client assets would remain within BNY‘s institutional custody framework while accessing Galaxy’s staking capabilities.  You might also like:  BNY unlocks USDC minting and redemption for institutional clients  However, the companies did not disclose which proof-of-stake assets

08-05انڈسٹری

SpaceX earnings test AI ambitions after 50% stock drop

SpaceX shares rebounded ahead of the companys first quarterly report since its June IPO, as investors looked beyond an expected $1.9 billion loss toward its AI infrastructure plans and Starlink growth.  SummarySpaceX is expected to report $6.8 billion in quarterly revenueand a $1.9 billion loss.Bernstein maintained its Outperform rating and $239 price targetbefore the results.SPCX remains more than 50% below its $225.64 highdespite its latest rebound.Investors are watching Starship reuse, Starlink growth, and AI computing demandfor signs of long-term value.  SpaceX earnings put AI strategy in focus  SpaceX is scheduled to publish its second-quarter results after the U.S. market closes on Tuesday, marking its first earnings report as a public company.  Analysts expect the company to post revenue of about $6.8 billion and a net loss near $1.9 billion. Starlink growth is expected to offset some of the losses from SpaceXs launch and artificial intelligence operations, according to estimates cited by CBS News.  The headline financial figures may receive less attention than managements outlook for AI infrastructure. SpaceX has been developing plans to deploy space-based data centers, which would use satellite networks to provide computing capacity.  You might also like:  Can SpaceX earnings revive SPCX stock after its 52% plunge?  The companys AI strategy also includes terrestrial infrastructure

08-05انڈسٹری

Ethereum researchers propose burning validator rewards to cap staking at 50%

Quick TakeThe “Tapered Issuance Burn” Ethereum Improvement Proposal would gradually burn a rising share of validator rewards as the staking ratio climbs, driving ETH inflation to zero once about 50% of ETH is staked.Critics of the proposal, submitted days before a Hegota inclusion deadline, say the plan could negatively impact solo stakers, liquid staking tokens, DeFi yields and Ethereums long-term security.  A group of Ethereum researchers, including Justin Drake, published a draft Ethereum Improvement Proposal that would introduce a “tapered issuance burn,” deducting and permanently destroying a portion of validators “idealized” rewards that scales with the networks overall staking ratio.  The proposal, authored by pintail, Jérôme de Tychey, dapplion, pa7x1, Ladislaus von Daniels and Ethereum Foundation researcher Drake, sets a saturation balance of about 60.25 million ETH — roughly half the current supply — at which the burn fraction reaches 100% and net consensus-layer issuance for performing duties falls to zero.  In other words, a rising portion of each validators rewards would be burned as the total amount of staked ETH grows. At roughly 50% of all ETH staked, the burn would cancel out those rewards completely.  The authors argue that the current system still pays a small yield no matter how much is

08-05انڈسٹری

Wells Fargo to launch tokenized deposits this fall

Wells Fargo plans to launch tokenized deposits this fall, allowing corporate and commercial clients to move and settle funds outside traditional banking hours.  SummaryThe initial pilot will support U.S. dollar-to-British pound transactionsfor selected corporate clients.Tokenized deposits will enable 24/7 fund transfers, settlement and programmable paymentson the banks blockchain platform.Wells Fargo plans to add more clients, countries and currencies throughout 2027.The rollout follows its WFUSD trademark filingand growing exposure to crypto-linked investment products.  Wells Fargo tokenized deposits will support 24/7 settlement  Per an Aug. 4 WSJ report, Wells Fargo said the service will allow participating clients to transfer, program and settle funds around the clock within a regulated banking framework. The initial rollout will cover transactions between the U.S. dollar and British pound.  Unlike conventional bank transfers, which can face market-hour restrictions and settlement delays, tokenized deposits represent customer funds as digital tokens on a blockchain. This structure can support near-continuous settlement while keeping the deposits within the banking system.  The program will run on Wells Fargos proprietary blockchain platform, which supports internal custodial wallets. The bank said future offerings could also use its interchain connectivity technology to communicate with other blockchain networks.  “The program will roll out this fall with a limited U.S. dollar (USD) to

08-05انڈسٹری

Cloudflare kicks off stablecoin wallet rollout for AI agents to pay for APIs and online content

Quick TakeUsers can claim Cloudflare wallet handles now, while funding and payment features will arrive later.Owners will be able to limit agent spending by merchant, allowance and transaction size.  Cloudflare is in the early stages of rolling out programmable wallets designed to let AI agents pay for APIs, data and online content using stablecoins, adding a key piece of infrastructure to its agentic commerce ecosystem.  The first step, revealed Tuesday, allows users to claim a unique Cloudflare Wallet handle tied to their account. The primary functions of the wallet, like funding it with stablecoins and authorizing agents to make purchases, will become available “soon,” according to a company release.  Cloudflare says the wallets will come in two forms: an Account Wallet that lets individuals and organizations add funds and control spending, and a Virtual Wallet that operates through API keys and allows agents to make purchases on their behalf.  Owners will be able to set allowances, approved-merchant lists and maximum transaction sizes. Cloudflare said those controls could let an agent test different low-cost APIs and select the best option without repeatedly seeking human approval or risking letting the agent run wild with unrestricted spending.  The wallets will support micropayments through x402, a protocol developed by

08-05انڈسٹری

BNY to offer institutional crypto staking through Galaxy partnership

BNY and Galaxy have partnered to integrate institutional crypto staking into BNYs digital asset custody platform, allowing eligible clients to earn staking rewards without moving assets out of custody.  Under the arrangement, which was unveiled on Tuesday, institutional clients will be able to stake supported proof-of-stake assets while keeping them within BNY‘s custody framework. Galaxy will provide the staking infrastructure and serve as a design partner for BNY’s broader digital asset platform. The companies did not specify which digital assets will be supported.  The partnership also aims to combine custody, staking, reporting and tax services into a single offering for institutional clients, a move the companies said could simplify digital asset operations.  The partnership expands BNYs push to integrate digital assets into traditional financial infrastructure. The bank was among the first major financial institutions to offer regulated custody for cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), and has since broadened its digital asset strategy through initiatives including tokenized fund administration and efforts to move transfer agency records onchain.  Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodlers Digest, July 26

08-05انڈسٹری

Bybit secures Austria EMI license for EU payments

Bybit has secured an Electronic Money Institution license in Austria, allowing its local payments subsidiary to offer regulated electronic money and payment services across the European Union.  Bybit gains approval for regulated EU payments  Austria‘s Financial Market Authority granted the license to Bybit Payments GmbH on Aug. 4 under the country’s E-Money Act 2010.  The authorization allows the Vienna-based company to issue electronic money and provide payment services under Austria‘s Payment Services Act 2018. Those permissions cover incoming and outgoing payments, payment transactions, and issuing and acquiring payment instruments, according to the FMA’s licensing notice.  Bybit said the license gives its payments subsidiary a regulated foundation for expanding financial services across Europe through Bybit.eu.  “Europe is setting the global benchmark for how digital assets and financial services can evolve together under clear regulation,” said Georg Harer, managing director of Bybit EU GmbH and Bybit Payments GmbH.  Harer said the EMI license and Bybits existing Markets in Crypto-Assets authorization create complementary regulatory foundations for crypto assets, payments and other financial services.  Bybit keeps payments and crypto services separate  Bybit Payments GmbH will operate independently from Bybit EU GmbH, the entity responsible for the exchanges crypto-asset services under MiCA.  Customers will be able to access both service categories through Bybit.eu, but

08-05انڈسٹری

Solana Proposal Would Increase Daily SOL Burns More Than 10-Fold

In briefSolana validators are considering a proposal to increase daily SOL burns through a new fee model.A companion proposal would accelerate the networks declining inflation schedule.The proposal is close to reaching the support needed to advance to a formal vote.  Solana validators are close to advancing a governance proposal that would sharply increase the amount of SOL burned each day while reducing the rate at which new tokens enter circulation.  If implemented, the proposal would therefore limit the network tokens inflation rate, thereby limiting supply and, in theory, could lead to an increase in the price of Solana tokens if demand remains steady or increases.  The proposal, SGP-0003, combines two previously introduced Solana Improvement Documents into a single governance package aimed at tightening SOLs supply. SIMD-0553 would introduce resource-based transaction fees, increasing daily SOL burns from about 650 SOL (roughly $48,000) to between 7,500 and 9,000 SOL (up to about $668,000), depending on network activity. SIMD-0550 would also double Solanas annual disinflation rate to 30%, bringing the networks 1.5% inflation floor forward from 2032 to 2029.  A token burn permanently removes cryptocurrency from circulation by sending it to an unusable wallet address. By pairing larger burns with lower issuance, the proposal would reduce the

08-05انڈسٹری

Open USD rattled Circle's stock, but its key backers still support USDC

Recent earnings calls from Open USDs highest-profile backers, however, paint a more nuanced picture. Executives at Coinbase, Visa and Mastercard all said they intend to support multiple stablecoins instead of betting on a single winner, describing Open USD as another network to connect to rather than a replacement for USDC.  Multi-coin strategy  During its second-quarter earnings call last week, Coinbase reassured investors about its close relationship with Circle. Chief Financial Officer Alesia Haas said the exchange has already met the conditions to renew its commercial agreement with Circle and will continue growing the USDC ecosystem.  CEO Brian Armstrong also said Coinbase remains a “multi-stablecoin platform” and wants to support whichever stablecoins customers choose to use. The exchange already supports USDC alongside Tethers USDT and PayPals PYUSD, he said, with Open USD creating “additional business opportunities and revenue opportunities.”  Ryan McInerney, CEO of Visa, struck a similar tone during his firms earnings call, describing the company as “multi-coin, multi-chain” and saying that Visas role is to help clients connect to whichever stablecoins gain adoption.  “Our role is not to pick winners,” he said.  Notably, Visa offered the first live example of pushing Open USD to customers. The firm last month launched its Visa Stablecoin Platform, giving banks,

08-05انڈسٹری
1
...
6365
...
1000