It is now a heated time for traditional institutions, sovereign entities, and stablecoin companies to lay out their plans in crypto.
Here are some substantial actions that are favorable to crypto:
The U.S. Securities and Exchange Commission (SEC) has approved the conversion of the Grayscale Digital Large Cap Fund LLC
into a spot ETF holding $BTC, $ETH, $XRP, $ADA , and $SOL .
The L1 public chain Stable, supported by Bitfinex, announced the first phase of its roadmap, using USDT as its native token for Gas fees and settlement fees, and achieving gas-free trading through the USDT0 token based on LayerZero $ZRO .
Circle has applied for a national banking license. If approved by the Office of the Comptroller of the Currency (OCC), Circle will operate as the "first national digital currency bank," capable of safely holding its reserves and managing crypto assets for institutional clients.
The newly established mining company American Bitcoin, backed by Eric Trump and Donald Trump, raised $220 million through a private placement of over 11 million new shares.
Deutsche Bank plans to launch a cryptocurrency custody service next year and is currently collaborating with EU cryptocurrency broker Bitpanda and the digital asset infrastructure provider Taurus, supported by Deutsche Bank.
Paxos has launched the USDG stablecoin, pegged to the dollar, for EU users, which is supported by Robinhood, Kraken, Galaxy Digital, and Anchorage.
USDG is issued by a regulated Finnish entity under the EU's MiCA framework, offering one-to-one redemptions, with a portion of reserves held in EU banks.