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21 Apr, 2025

Circle Debuts Stablecoin-Based Network to Reduce Costs, Delays in Global Payments

Circle, the company behind the USDC stablecoin, has unveiled an infrastructure platform aimed at modernizing cross-border payments by allowing banks and financial institutions to move money instantly, 24/7, using fully reserved digital dollars (USDC) and euros (EURC).The Circle Payments Network (CPN) will allow banks and financial providers to send money instantly, 24/7, using stablecoins like USDC and EURC. It is designed to support invoice payments, remittances, treasury services, payroll, and contractor payouts.More than 20 design partners are already participating, including dLocal, WorldRemit, BVNK, Yellow Card, and Coins.ph, signaling a focus on institutions operating in emerging markets and high-volume remittance corridors."We are not just building stablecoins. We are building a modern infrastructure for global payments," Circle said in a post on X.The initiative takes aim at the aging infrastructure of global finance. International banking settlements are notoriously slow, expensive, and hindered by legacy systems.Though it’s hardly the first fintech to try and revolutionize cross-border payments or replace SWIFT—and none have yet succeeded—Circle claims banks and payment providers will be able to move money “at internet speed” through programmable and secure transfers that are always available. USD stablecoins now boast a combined market cap north of $231 billion, according to CoinGecko, with over $37 billion traded in the past 24 hours. Tether’s USDT continues to dominate at $144 billion, while Circle’s USDC accounts for around $60 billion of the market.The launch represents a strategic expansion of Circle’s role from a stablecoin issuer to a provider of the infrastructure that moves those assets at scale. With CPN, Circle is trying to position itself as a foundational layer in the global financial stack. The company says “leading banks” are helping shape the network, referring to the advisors listed on its website, which include Deutsche Bank and Standard Chartered.At the same time, Circle is looking to deepen its foothold in the traditional finance world. As reported by The Wall Street Journal on Monday, Circle is among a group of crypto firms—including BitGo, custodian of the Trump family’s stablecoin USD1—planning to seek U.S. bank charters or licenses as the former president positions the country as a potential “bitcoin superpower.”

18 Apr, 2025

Asia Welcomes First XRP Tracker Fund through HashKey and Ripple Partnership

HashKey Capital has launched Asia’s first XRP Tracker Fund, unlocking institutional crypto investment opportunities for the third-largest digital asset by market capitalization. Backed by Ripple as the fund’s lead investor, the initiative aims to provide regulated exposure to XRP for financial institutions, family offices, and high-net-worth investors across the region.This fund reflects a growing push by Hong Kong-based HashKey Capital to expand its suite of digital asset products, and signals a strengthened alliance between two major players in blockchain finance.“XRP stands out as one of the most innovative digital assets, used by global enterprises to transact, tokenize, and preserve value,” said Vivien Wong, Partner at HashKey Capital’s Liquid Funds. “With the first XRP Tracker Fund in Asia, we provide direct access to XRP, catering to the increasing demand for sophisticated crypto investment vehicles.”The HashKey XRP Tracker Fund joins the firm’s expanding lineup, which includes the Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF, both listed on the Hong Kong Stock Exchange. This marks the third tracker fund under HashKey Capital’s management, reinforcing its reputation as a top-tier digital asset investment platform in Asia.Ripple Anchors the FundRipple’s role as anchor investor underscores its intention to expand in Asia through regulated crypto channels. According to Fiona Murray, Ripple’s Managing Director for Asia-Pacific, the fund reinforces the region’s leadership in blockchain adoption.“HashKey Capital’s position and the region’s digital finance momentum make Asia a center of gravity for crypto innovation,” she said. “We are excited to collaborate further on investment solutions, cross-border payments, and enterprise blockchain products.”Market Timing and ETF MomentumThe timing of the launch aligns with escalating anticipation for XRP ETFs in the United States, particularly under President Trump’s second term. Analysts at Standard Chartered estimate a potential $8 billion in inflows for a spot XRP ETF within its first year, with multiple firms currently awaiting SEC approval. A key decision from the Securities and Exchange Commission on Grayscale’s filing is expected by May 22.Bridging Traditional Finance with Blockchain AssetsThrough the XRP Tracker Fund, HashKey and Ripple are effectively bridging institutional capital with blockchain-native opportunities. The product delivers secure, transparent, and accessible crypto exposure, enhancing Asia’s position as a leading center for regulated digital asset investments.