Beijing Blocks Private Stablecoin Projects Chinese technology groups Ant Group and JD.com have suspended plans to issue stablecoins in Hong Kong after regulators in Beijing raised concerns about privately controlled digital currencies, according to the Financial Times. Sources told the paper that the People’s Bank of China (PBoC) and the Cyberspace Administration of China (CAC) instructed both companies to halt their initiatives. “The real regulatory concern is, who has the ultimate right of coinage — the central bank or any private companies on the market?” one person familiar with the discussions said. Both firms had expressed interest earlier this year in joining Hong Kong’s stablecoin pilot program or in issuing tokenized financial products such as digital bonds. The pause underscores Beijing’s unease over digital currencies issued outside the state’s control, even in semi-autonomous Hong Kong, where local regulators had been promoting new frameworks for licensed stablecoin issuers. Investor Takeaway The intervention highlights China’s reluctance to allow corporate-issued digital currencies, reaffirming the state’s monopoly over monetary policy and digital yuan development. Hong Kong’s Stablecoin Push Faces Pressure Hong Kong began accepting applications for stablecoin issuers in August under its new regulatory framework, which criminalizes unlicensed promotions and establishes a public registry of approved issuers. Mainland officials had initially viewed the program as a vehicle to promote renminbi-pegged stablecoins and extend the yuan’s use abroad. But enthusiasm faded after Ye Zhiheng, executive director of intermediaries at the Securities and Futures Commission (SFC), warned that the new regime had increased fraud risk. Stablecoin firms active in Hong Kong reported double-digit losses on Aug. 1, the day the rules came into force. Last month, Chinese outlet Caixin reported that Beijing had imposed limits on Hong Kong’s stablecoin operations, though the report was removed soon after publication. The disappearance fueled speculation that the restrictions reflected direct intervention from mainland authorities rather than local regulators acting independently. Shift in Beijing’s Tokenization Policy Beijing’s stance on Hong Kong’s digital asset experiments has cooled in recent weeks. The China Securities Regulatory Commission (CSRC) reportedly instructed several local brokerages to suspend real-world asset (RWA) tokenization projects in Hong Kong, reflecting concerns over rapid offshore expansion of blockchain-based finance. The move followed a series of high-profile tokenization initiatives, including CMB International Asset Management’s launch of a tokenized $3.8 billion money-market fund on BNB Chain. CMBI is a Hong Kong-based unit of China Merchants Bank, one of the mainland’s largest commercial lenders. The project was seen as a milestone in bridging traditional finance and blockchain-based markets before regulatory pressure intensified. Investor Takeaway Beijing’s clampdown suggests Hong Kong’s role as a testing ground for Chinese fintech innovation is narrowing, with state control now extending to tokenization and digital assets. Future of Hong Kong’s Digital Asset Ambitions China’s latest intervention could undermine Hong Kong’s effort to present itself as a regulated hub for digital finance. The city’s stablecoin framework, introduced on Aug. 1, was designed to balance consumer protection with innovation, but the pullback by Ant and JD.com signals a loss of confidence among some of the region’s largest players. The episode also reflects Beijing’s broader policy direction — promoting the digital yuan (e-CNY) while restricting privately issued alternatives. Without support from major mainland institutions, Hong Kong’s stablecoin ecosystem could struggle to attract large issuers and institutional liquidity. For now, the message from Beijing is that the power to create and manage digital money rests with the state, not the market. Whether Hong Kong can pursue a parallel path of regulated innovation under that constraint remains to be seen.

The digital-asset market is licking its wounds after last week’s record liquidation, but one buyer hasn’t slowed down. BitMine Immersion Technologies, a once-obscure U.S. mining company turned Ether accumulator, has bought roughly 379,000 ETH—worth nearly $1.5 billion—over three separate purchases since the crash, according to blockchain data compiled by Arkham Intelligence and the “BMNR Bullz” tracker. If accurate, the spree would lift BitMine’s stash to more than three million ETH, or about 2.5% of Ethereum’s circulating supply, valued near $11.7 billion. That figure, still unconfirmed by the company, would make it the largest single corporate holder of Ether and put it halfway to its stated goal of owning 5% of the network. The expansion continues a rapid reinvention for BitMine, which only pivoted to an “Ether-treasury” model in July when prices were still near $2,500. It has since filed a $20 billion securities shelf with the U.S. SEC and disclosed a series of equity offerings meant to finance digital-asset purchases. From Research House to Whale Factory Much of the narrative is tied to Tom Lee, co-founder of Fundstrat Global Advisors, who joined BitMine’s board earlier this year. Lee has long argued that Ethereum could ultimately surpass Bitcoin in market relevance. “Ethereum could flip Bitcoin similar to how Wall Street and equities flipped gold post-’71,” he told ARK Invest’s Cathie Wood last week. Yet even Lee concedes that the boom in Digital Asset Treasuries (DATs)—public companies raising capital solely to hold crypto—is cooling. “Many DATs are trading below their net-asset value. If that’s not already a bubble burst, what would be?” he told Fortune on Thursday. His dual stance captures the market’s contradiction: bullish on Ether’s long-term utility, cautious on the corporate structures that tried to financialize it. The “DAT bubble” Lee referred to was built on a simple trade. As long as DAT shares traded at a premium to the value of their underlying coins, issuing stock to buy more crypto created automatic paper gains. When the premium vanished, the loop collapsed. According to 10x Research, led by strategist Markus Thielen, most DATs now sit near or below their NAVs. Japanese bitcoin vehicle Metaplanet, and MicroStrategy—often shorthanded by traders as “Strategy”—both spent the past week trading around parity with their holdings. “The premium is gone,” 10x wrote in a weekend note, calling the episode “the first true stress test for digital-asset balance-sheet models.” Still, Thielen said firms with real capital and trading talent “may still generate meaningful alpha.” Asian Money Eyes Ether That view appears to be resonating in Asia. Huobi founder Li Lin has reportedly raised around $1 billion for a new Ether-treasury fund targeting institutional exposure. The plan is to mirror BitMine’s model but source liquidity from Asian markets and staking yields rather than U.S. equity issuance. Speaking to CNBC after Friday’s close, Lee said traders were still “licking their wounds” from the leverage wipe-out but compared the current environment to the early innings of prior crypto recoveries. He added that part of the malaise comes from “gold envy,” as bullion has been one of the year’s standout performers. “This is not the top of the crypto cycle,” Lee said. “Leveraged longs in crypto are near record lows, so I think we’re at the basement and working our way back up.” Bitcoin and Ether are down about 15% since their October 7 highs, while gold has slipped roughly 3% from its record on Thursday. Whether BitMine’s holdings are fully verified or not, its rise shows how fast the MicroStrategy model is mutating. Instead of chasing bitcoin, new entrants are stockpiling Ether and treating it as a balance-sheet asset rather than a trade. If the filings hold up, BitMine now controls a stake in Ethereum that rivals some of the network’s largest decentralized protocols—proof that in crypto’s latest cycle, the biggest whales might be wearing suits.

Jimmy Donaldson, better known as MrBeast, may soon extend his empire beyond YouTube stunts and burger chains into banking and crypto. His holding company, Beast Holdings LLC, has filed a U.S. trademark application for “MrBeast Financial”, covering a wide range of financial products — including cryptocurrency payment processing, exchange services, and software for managing digital assets. The filing was submitted to the U.S. Patent and Trademark Office on October 13 and is awaiting assignment to an examiner. The document’s language reads like a fintech startup’s wish list: mobile-app banking, short-term loans, insurance, financial-wellness education, and software-as-a-service tools for handling crypto transactions. While trademark filings often serve as placeholders rather than concrete launches, the move suggests MrBeast is laying legal groundwork for a possible creator-branded fintech platform. From giveaways to wallets Donaldson, whose sprawling business ventures range from fast food to chocolate bars, already has a history of experimenting with digital finance. He partnered with the neobank Current in 2021 for a series of high-profile giveaways, and later teamed up with MoneyLion, another U.S. fintech app, in a $4.2 million promotion tied to his Beast Games series. Those partnerships gave his followers early exposure to banking apps through his content — a model that could easily translate to a standalone “MrBeast Financial” service. The filing’s crypto-specific clauses hint that such a service might include a digital wallet or exchange component. It mentions “downloadable software for processing cryptocurrency payments and transactions via decentralized exchanges,” placing it squarely in Web3 territory. Donaldson hasn’t publicly commented on the filing, and Beast Holdings didn’t respond to requests for clarification. The company’s filings show it operates under a wider structure known as Beast Industries, which also includes the MrBeast Burger and Feastables consumer brands. The business behind the brand Beast Holdings has been scaling into a professional corporate entity, led by Jeff Housenbold, the former SoftBank Vision Fund managing partner and ex-CEO of Shutterfly. According to investor materials reported by Business Insider, Beast Industries generated roughly $473 million in 2024 revenue and is exploring new verticals — fintech among them. Those materials describe plans for “Beast Financial” as a consumer-facing product suite offering mobile banking, crypto exchange tools, credit features, and even insurance — though, crucially, with a licensed partner handling banking and regulatory compliance. That approach mirrors the playbook used by most modern neobanks, which rely on “sponsor banks” and backend service providers rather than seeking their own banking charters. A celebrity fronting a financial brand is hardly new — but the bar for regulatory compliance is higher than ever. In 2022, the U.S. Securities and Exchange Commission fined Kim Kardashian $1.26 million for promoting a crypto token without proper disclosure. Any MrBeast-branded financial product would likely attract similar scrutiny, especially given his audience skews young. “Banking and crypto involve complex consumer-protection issues,” said a New York-based fintech lawyer familiar with celebrity endorsements. “If he’s actually moving customer money or offering financial advice, every disclosure has to be airtight.” Even with a partner-bank model, Beast Holdings would need state money-transmitter licenses or a licensed intermediary to legally process customer funds. Building or white-labeling a crypto exchange would add another layer of compliance, from Know-Your-Customer checks to anti-money-laundering programs. For all the legal caveats, the potential upside is hard to ignore. MrBeast commands one of the largest online followings in the world — more than 270 million YouTube subscribers — and his content routinely doubles as viral marketing. A financial app launched under his brand could instantly attract millions of downloads, giving Beast Holdings a ready-made user base most fintech startups could only dream of. Whether “MrBeast Financial” becomes a true neobank, a crypto-on-ramp, or just another brand protection move remains to be seen. For now, it’s just a line in a public database — but for a creator who built an empire from viral challenges, it could be the next big experiment in turning attention into assets.

UK Tax Authority Targets Underreported Crypto Gains HM Revenue & Customs (HMRC) has intensified its oversight of cryptocurrency investors, sending almost 65,000 warning letters in the 2024–25 tax year—more than double the 27,700 issued the previous year, according to figures obtained by the Financial Times under the Freedom of Information Act. The notices, often called “nudge letters,” encourage taxpayers to correct filings voluntarily before formal investigations begin. Over the past four years, HMRC has sent more than 100,000 such letters, part of a sustained effort to bring digital asset profits under tighter tax compliance. The escalation reflects growing concern within the UK Treasury over unreported crypto transactions as prices and retail participation have surged. Industry analysts say many investors remain unaware that converting between tokens or moving assets between platforms can trigger capital gains tax liabilities. Investor Takeaway HMRC’s expanded scrutiny signals that the era of informal crypto trading in the UK is closing. Investors can expect automatic reporting and tougher enforcement by 2026. Seven Million Britons Hold Crypto The Financial Conduct Authority estimates that around seven million UK adults—roughly 13% of the population—now hold cryptocurrency, up from about 10% in 2022 and 4% in 2021. The rapid growth has made crypto one of the fastest-expanding asset classes among retail investors in Britain. “The tax rules surrounding crypto are quite complex, and there’s now a volume of people who are trading and not understanding that even moving from one coin to another triggers capital gains tax,” said Neela Chauhan, a partner at accounting firm UHY Hacker Young, which filed the FOI request. Chauhan said the increase in letters shows HMRC’s willingness to act ahead of the global data-sharing rules that take effect in 2026. Global Data-Sharing to Tighten Enforcement HMRC’s visibility into crypto transactions has improved sharply. The agency already receives transaction data directly from major exchanges operating in the UK and will gain automatic access to international exchange data in 2026 under the Organisation for Economic Co-operation and Development (OECD)’s Crypto-Assets Reporting Framework (CARF). The framework will enable tax authorities across jurisdictions to exchange information on individuals and entities trading digital assets, mirroring existing systems for bank accounts and investment income. For British taxpayers, this means that overseas exchange activity will soon be as transparent to HMRC as domestic trading. Crypto tax advisers say the growing data pipeline leaves little room for concealment. “The combination of CARF and HMRC’s own data collection powers will make it very difficult for anyone to hide crypto gains,” one London-based tax specialist said. Investor Takeaway The OECD’s new reporting network will globalize crypto tax enforcement. UK traders using offshore exchanges will soon face the same visibility as domestic investors. Broader International Push Other countries are also intensifying crypto tax collection. In the United States, lawmakers are weighing proposals to exempt small digital transactions from taxation and clarify the treatment of staking rewards. During a Senate Finance Committee hearing earlier this month, Coinbase executive Lawrence Zlatkin called for a de minimis exemption for payments under $300. Meanwhile, South Korea’s National Tax Service has warned that even crypto assets stored in cold wallets may be seized if linked to unpaid taxes. The agency has already begun tracking digital holdings as part of a broader effort to clamp down on offshore evasion. Tax authorities around the world are converging on a similar message: digital assets are no longer an enforcement blind spot. For UK investors, the warning letters mark the start of a more coordinated and data-driven era of compliance.

Finzer Rejects Talk of Pivot Away from NFTs Devin Finzer, CEO of OpenSea, denied claims that the marketplace is abandoning non-fungible tokens, saying the firm is expanding into a broader platform for all onchain assets. In a post on X, Finzer said October trading volume reached $2.6 billion, with more than 90% of that from token trading, describing it as the start of OpenSea’s transition to “trade everything.” “We’re building the universal interface for the entire onchain economy — tokens, collectibles, culture, digital and physical,” Finzer told crypto outlet Cointelegraph. “If it exists onchain, you should be able to trade it on OpenSea, across any chain, while keeping full control of your assets,” he said. Founded in 2017, OpenSea was the first major NFT marketplace and dominated the sector for years before losing share to competitors such as Blur during the 2023 market downturn. It regained momentum this April, capturing more than 40% of global NFT volume and now holds a 51% market share, according to data provider NFTScan. Investor Takeaway OpenSea’s plan to handle all onchain trading could reshape its business model and position it between centralized and decentralized exchanges. ‘Trade Everything’ and the Onchain Economy Finzer said the company is repositioning as the “interface layer for the entire onchain economy,” integrating token swaps and portfolio management across 22 blockchains. “We realized the same infrastructure that unified NFT trading can unify all onchain trading,” he said. “Now users can swap from Solana to Ethereum, trade any token, manage any asset — all in one place.” He described OpenSea’s approach as an alternative to both centralized and decentralized exchanges: “Unlike CEXs, you keep your keys. Unlike DEXs, the complexity is invisible. We aggregate liquidity across 22+ chains into one seamless experience.” Finzer dismissed suggestions that NFTs are no longer central to the business. “Everything onchain is core to our model — that’s what ‘trade everything’ means,” he said. The company is building a crosschain environment where NFTs, tokens, and other digital assets coexist within one trading interface. Expansion Plans and Upcoming Launches OpenSea plans to launch a new mobile app before the first quarter of 2026, bringing instant crosschain swaps and portfolio tracking to mobile devices. Finzer said the goal is to make “onchain trading as easy as checking Instagram.” The company also confirmed plans for a governance token, SEA, to be issued by the OpenSea Foundation in early 2026. The token will support governance and participation across the OpenSea ecosystem. Its broader roadmap includes perpetual futures, expanded mobile access, and what it calls “true crosschain abstraction,” allowing users to trade any token across any chain without managing multiple wallets or bridges. Data shows OpenSea has reclaimed its lead in the NFT sector and is now using that base to move into fungible tokens and derivatives trading. Analysts say the shift could diversify revenue beyond NFT fees, while integrating with the growing infrastructure for tokenized assets. Investor Takeaway OpenSea’s expansion into token trading marks one of the most ambitious transformations in the sector, blurring lines between NFTs and mainstream crypto markets. Competition and Industry Outlook The move comes as NFT marketplaces adapt to falling trading volumes and the rise of multi-asset exchanges. Rivals such as Blur and Magic Eden have already introduced token swaps, pushing traditional NFT platforms to broaden their offerings. OpenSea’s transition aligns with a wider shift across the industry toward unified, onchain trading environments. For Finzer, the shift represents a return to growth rather than a departure from the company’s roots. “The NFT boom was just the start of something bigger,” he said. With onchain assets increasingly overlapping, OpenSea’s “trade everything” strategy aims to capture that convergence — and restore the dominance it enjoyed during the early years of the NFT market.  

Robinhood Boosts Tokenization Drive Robinhood has expanded its tokenization initiative on the Arbitrum blockchain, adding 80 new stock tokens over the past week and bringing the total number of tokenized assets to 493, according to data compiled by Dune Analytics. The combined market value of these assets exceeds $8.5 million, with total mint volume surpassing $19.3 million. About $11.5 million worth of tokens have been burned, suggesting an actively traded and maturing secondary market. Roughly 70% of deployed tokens represent stocks, followed by 24% in exchange-traded funds (ETFs). The rest cover commodities, crypto-linked ETFs and U.S. Treasurys. The latest additions include Galaxy Digital (GLXY), Webull (BULL) and Synopsys (SNPS), according to research analyst Tom Wan. “Robinhood EU users now have a wider range of U.S. stocks, equities and ETFs, thanks to tokenization,” Wan said on social media. Investor Takeaway Robinhood’s expansion on Arbitrum underlines how brokerages are using blockchain to extend equity access in Europe, though questions remain about regulation and investor protection. Blockchain-Based Derivatives, Not Shares Robinhood launched its tokenization-focused layer-2 chain on Arbitrum in June as part of a broader push into real-world assets (RWA). The tokens mirror the price of publicly traded U.S. securities but do not confer ownership of the underlying shares. Instead, they function as blockchain-based derivatives regulated under the EU’s MiFID II framework, the company said. Users can trade these tokenized assets 24 hours a day with no additional fees beyond a 0.1% foreign exchange charge. Investments start at 1 euro ($1.17), appealing to retail users who want fractional exposure to U.S. stocks outside normal market hours. The model, however, has drawn scrutiny. In July, the Bank of Lithuania, which regulates Robinhood’s EU operations, requested clarification on how the tokens are structured and how the firm ensures compliance with investor protection rules. CEO Vlad Tenev said Robinhood welcomes the review and will continue to engage with regulators. Part of a Wider Crypto Push The tokenization rollout comes as Robinhood broadens its digital asset offerings. The company recently introduced micro futures contracts for Bitcoin, XRP and Solana, expanding its derivatives lineup. In May, Robinhood acquired Canadian crypto platform WonderFi for $179 million, a move aimed at deepening its presence in regulated markets. Robinhood has also proposed a framework to the U.S. Securities and Exchange Commission for a national regulatory structure covering tokenized assets and real-world asset products. The company has argued that clearer federal oversight would encourage innovation while protecting retail investors. While tokenized securities remain a niche market, the rapid addition of new assets on Arbitrum highlights Robinhood’s intent to build a bridge between traditional finance and blockchain-based trading. Its approach contrasts with U.S. platforms that have slowed digital asset initiatives amid regulatory uncertainty. Investor Takeaway Robinhood’s Arbitrum rollout puts tokenized stocks in front of EU investors, but its long-term success will depend on whether regulators view blockchain-based derivatives as compliant retail products. What’s Next Analysts say Robinhood’s expansion comes as European regulators become more receptive to tokenized instruments under the MiCA regime, which takes full effect next year. While the firm’s EU platform remains small compared with its U.S. brokerage, it is emerging as a testing ground for blockchain integration into mainstream finance. With nearly 500 tokenized assets already live, Robinhood is now among the most active players in Europe’s tokenization market. The company’s ability to satisfy regulators while keeping liquidity healthy will determine whether tokenized stocks can move beyond a niche audience and become a staple of global retail trading.  

How would you feel having an ever willing virtual assistant to guide you, assist your thinking and all your tasks in Web3? You would feel so great, your work would be less tedious, and you’d have time for other things. That’s exactly what AI has come to do and what it is already doing. In this guide, you will learn the role AI plays in enhancing Web3 user experiences. Key Takeaways • The role of AI in Web3 includes helping tailor experiences to each user, making interactions feel personal and relevant. • AI strengthens security by detecting unusual behavior and preventing fraud. • Automation powered by AI simplifies complex blockchain processes. • AI-driven insights help users make informed decisions. • Beginner-friendly platforms are leveraging AI to make Web3 accessible and engaging. AI in Web3 When a newbie gets into Web3, it can be a really exciting experience, and he or she can’t just wait to fully maximize the space. But with time, it begins to feel like a lot to handle. This is where AI helps. AI is a helpful guide that can assist your thinking, make tasks easier, and help you navigate Web3 smoothly without being slowed down by technicalities. We have seen the impact of AI generally in the world, and now we will look at the role of AI in enhancing user experiences in Web3. Role of AI in Enhancing Web3 User Experiences 1. Personalized User Experiences The role of AI starts with personalization. By learning from your activity, AI can suggest the right decentralized applications, NFTs, or DeFi protocols that match your interests. Instead of a generic dashboard, every user gets a personalized experience. These notifications and recommendations feel relevant and helpful, encouraging users to stay engaged. 2. Security Security is a top concern in Web3. AI helps in watching over blockchain transactions as they happen, noticing anything that looks unusual or unsafe. Its role here is to protect your assets, keep platforms secure, and help users feel more protected. 3. Automating Complex Tasks Using smart contracts, joining governance activities, or managing DeFi tasks can sometimes feel like too much to handle. AI makes these processes easier by taking care of repetitive and time-consuming steps. This not only reduces errors but also saves time and lets users focus on other important tasks. 4. Smart Insights and Analytics Blockchain data keeps changing and staying informed makes all the difference. AI helps by monitoring token activity,on-chain behavior and market movements as they happen. This gives users clear and useful information, helping them make smarter choices when trading, staking, or using decentralized apps. 5. AI- Powered Assistance  AI is making Web3 support faster and more human. Instead of waiting hours for responses or struggling to fix simple wallet issues, users can now get instant help from AI-powered assistants. These tools understand natural questions, explain complex steps clearly, and guide users through problems without frustration. Conclusion AI is making Web3 easier to use and understand. By simplifying complex systems and guiding users through every step, it helps create a seamless and more engaging experience for everyone. As both technologies continue to grow, their connection will make the web3 ecosystem more accessible and user-friendly.  

Li Lin Leads New Ether Investment Vehicle Li Lin, founder of the crypto exchange Huobi and chairman of Hong Kong-based Avenir Capital, is leading the creation of a $1 billion Ether (ETH) trust alongside several prominent early Ethereum investors, according to Bloomberg. The initiative is designed as a digital asset trust to accumulate and hold Ether, tapping into a surge in institutional demand for the world’s second-largest cryptocurrency. People familiar with the matter said Li has partnered with Fenbushi Capital co-founder Shen Bo, HashKey Group CEO Xiao Feng, and Meitu founder Cai Wensheng to establish the vehicle. The group is reportedly in talks to acquire a Nasdaq-listed company to structure the trust, with a formal launch expected within weeks. Investor Takeaway The new Ether trust reflects growing institutional confidence in Ethereum, following Bitcoin ETF success and renewed demand for regulated exposure to ETH. Capital Commitments and Structure The trust has already secured about $1 billion in commitments, including roughly $200 million from Avenir Capital and $500 million from HongShan Capital Group, formerly Sequoia China. Discussions with other institutional investors across Asia are continuing, with additional allocations expected before the official launch. By structuring the fund through a U.S.-listed company, the group aims to attract global investors while complying with American regulatory requirements. Sources said the acquisition process of the shell firm is in its final stages, paving the way for the trust’s formal registration and market debut. Industry observers view the vehicle as part of a broader trend among Asian asset managers moving to capture institutional demand for Ether following the approval of U.S. Bitcoin exchange-traded funds. Ethereum has increasingly become a target for fund managers building diversified crypto portfolios, particularly as expectations rise for a similar ETH-based ETF in the United States. Institutional Ether Demand Climbs Public companies currently hold more than 4.4 million ETH valued at $16.9 billion, according to CoinGecko. The largest holder, BitMine (BMNR.US), controls over $11 billion worth of Ether. The growing corporate accumulation of ETH underscores a shift toward long-term investment strategies rather than short-term speculation, with companies treating Ether as both a digital commodity and a settlement layer for tokenized finance. At the time of writing, Ether trades near $3,857, up more than 9% over the past week, according to Nansen data. The rally follows increased institutional flows into Ethereum-based products and ongoing optimism about the network’s revenue potential from decentralized applications and staking yields. Li Lin’s Track Record in Digital Assets Li founded Huobi in 2013 and built it into one of the world’s largest crypto exchanges before selling the platform to entrepreneur Justin Sun after China’s 2021 crypto trading ban. The two later became embroiled in legal disputes over branding and control of Huobi Global. Since exiting the exchange business, Li has focused on institutional investments through Avenir Capital, which has become one of Asia’s largest holders of Bitcoin ETFs. Avenir reported holding 16.5 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) in August, valued at several hundred million dollars. The firm has also participated in a $500 million Solana treasury launched in September, reflecting a broader multi-chain investment strategy. By spearheading the Ether trust, Li is extending that model into direct asset accumulation rather than ETF exposure. Investor Takeaway Li’s push into Ether follows Avenir’s heavy Bitcoin ETF exposure and signals a regional shift toward Ethereum-focused institutional products in Asia. Outlook: Asia’s Institutional Play for Ethereum The $1 billion vehicle highlights Asia’s growing role in shaping institutional Ethereum investment. While U.S. asset managers dominate the Bitcoin ETF market, Asian investors are increasingly pursuing private trust structures for Ether accumulation, often leveraging offshore and listed entities for access and compliance. With backing from some of the region’s earliest Ethereum adopters, Li’s project could become a template for similar digital asset funds targeting institutional investors seeking regulated, long-term exposure. A formal announcement is expected within two to three weeks, according to people familiar with the plans.

Tempo’s Funding Round and Market Position Tempo, a payments-focused blockchain incubated by Stripe and Paradigm, has raised $500 million in a Series A round led by Thrive Capital and Greenoaks, Fortune reported, citing people familiar with the matter. The round values the startup at $5 billion, making it one of the most valuable new players in the stablecoin and settlement infrastructure race. Other investors in the round include Sequoia Capital, Ribbit Capital, and SV Angel. Stripe and Paradigm did not participate, according to the report. The valuation highlights the growing appetite among venture firms for blockchain projects with direct applications in payments, even as broader crypto fundraising remains subdued. Tempo is built as an Ethereum-compatible Layer 1 network optimized for high-throughput payments and settlement. The project, unveiled last September, has already partnered with OpenAI, Shopify, Visa, Anthropic, and Deutsche Bank, according to earlier statements by Stripe CEO Patrick Collison. Collison previously described Tempo as “the payments-oriented L1, optimized for real-world financial-services applications.” Paradigm co-founder Matt Huang, who also sits on Stripe’s board, is leading the initiative. Investor Takeaway Tempo’s $5B valuation puts it among the top blockchain startups focused on payments and stablecoin infrastructure, signaling renewed investor confidence in regulated, enterprise-grade crypto rails. Stripe’s Expanding Crypto Strategy The funding comes as Stripe deepens its crypto footprint after years of limited involvement. The $92 billion fintech giant has spent the past year acquiring firms across the digital asset stack, including Bridge, a stablecoin infrastructure company bought for $1.1 billion, and Privy, a crypto wallet provider acquired in June. Stripe also integrated Coinbase’s Base Layer 2 network into its payments system to expand onchain settlement capabilities. Collison has described stablecoins as a natural evolution of Stripe’s cross-border payments business, allowing near-instant settlement without intermediaries. Tempo’s development within Stripe’s ecosystem signals a push toward a blockchain-native payments layer that could eventually support its merchant base and enterprise clients globally. Stripe’s involvement also reflects a strategic shift toward programmable money infrastructure, positioning the company alongside other fintechs exploring stablecoin and blockchain settlement systems. Its return to crypto, after suspending Bitcoin payments in 2018, mirrors a broader institutional embrace of blockchain-backed financial rails. Ethereum Researcher Joins Tempo Tempo has also attracted top technical talent. Dankrad Feist, a researcher at the Ethereum Foundation, joined the project as a senior engineer while remaining an adviser to the foundation. Feist said the platform aligns with Ethereum’s open principles and could feed back improvements to the broader ecosystem. “Tempo’s open-source technology can easily integrate back into Ethereum, benefiting the entire ecosystem. Ethereum and Tempo are strongly aligned, as they are built with the same permissionless ideals in mind,” Feist said. Feist’s appointment follows the project’s growing recognition within the Ethereum community. Still, his move drew mixed reactions, with some developers welcoming the collaboration and others viewing it as a loss of one of Ethereum’s key contributors during a critical development phase. Investor Takeaway Tempo’s hiring of core Ethereum talent suggests it wants to anchor itself in the broader Ethereum ecosystem rather than compete with it—potentially bridging institutional payments with DeFi standards. Community Debate Over “Another Chain” Tempo’s launch has reignited debate over the need for new Layer 1 networks dedicated to payments. Critics argue that existing blockchains like Ethereum and its Layer 2 scaling networks already provide the necessary infrastructure. “No one wants another chain,” said Joe Petrich, head of engineering at NFT platform Courtyard, responding to Collison’s announcement. “There is no need for yet another chain.” Devansh Mehta, a researcher at the Ethereum Foundation, echoed similar concerns, suggesting that app-specific Layer 1s risk fragmentation and potential centralization. “Layer-1 chains that must build out their own validator set suffer from governance and liability challenges,” he said. The debate comes as Ethereum faces its own internal tensions between scaling solutions and its main network economics. While Layer 2 networks such as Arbitrum and Base have boosted user activity, some developers argue that they divert fees and attention from Ethereum’s base layer.

KEY TAKEAWAYS Nigeria leads Africa in cryptocurrency adoption, with over 80 million active wallets. The Nigerian SEC’s licensing framework promotes investor safety and market integrity. Top licensed exchanges include Busha, Quidax, Bitmama, NairaEx, Yellow Card, and Blockchain.com. Security features like cold storage, MFA, and encryption safeguard user funds. Naira integration enables direct deposits, withdrawals, and crypto purchases. The licensed exchanges are driving mainstream crypto adoption across Nigeria.   Nigeria has emerged as a leading hub for cryptocurrency activity in Africa, attributable to its large, youthful population, increasing digital adoption, and vibrant entrepreneurial landscape. In this growing market, several licensed crypto exchanges offer Nigerians safe and regulated platforms to buy, sell, and trade digital assets. This article provides a detailed exploration of the top licensed crypto exchanges operating in Nigeria in 2025, their key features, and what makes them stand out for users. The Growing Nigerian Crypto Market Context Nigeria ranks among the top countries globally for crypto adoption, driven by over 80 million crypto wallets recorded on major platforms like Blockchain.com. The Country is recognized as Africa’s largest crypto market and second highest in the world behind India in terms of adoption rates, fueled by a tech-savvy young population enthusiastic about digital finance. The Nigerian Securities and Exchange Commission (SEC) has been intensifying crypto market regulation through a licensing framework to protect investors, reduce fraud, and foster compliance. Licensed exchanges follow strict guidelines regarding security, KYC/AML policies, and transparency, contributing to market trust and institutional interest. Top Licensed Crypto Exchanges in Nigeria As crypto adoption rises across Nigeria, choosing a regulated platform is key. Below are the top exchanges officially licensed to operate. 1. Busha Busha is among Nigeria’s pioneering SEC-licensed cryptocurrency exchanges and is widely regarded as one of the most trusted platforms in the country. It offers a secure and user-friendly experience tailored for Nigerian users. Key Features: Instant buy and sell options, recurring buys, limit orders, and seamless coin swaps. Users benefit from spending crypto on shopping vouchers, airtime, data, and receive cashback rewards. Security: Employs advanced encryption, multi-factor authentication, and regular security audits, ensuring customers’ assets are safeguarded. Busha’s licensing and deep local integration enable it to cater effectively to regulatory requirements and consumer needs, positioning it as a top-choice exchange for Nigerian crypto investors. 2. Quidax Quidax is a Nigerian-born platform with a strong reputation for transparency and community engagement. It operates with regulatory approval from the Nigerian SEC, providing compliant and easy access to crypto trading. Key Features: Support for local tokens, easy deposit options including bank transfers, and an API for business integration, which supports the growing ecosystem of crypto startups. Security: Utilizes cold wallets, regular penetration testing, and maintains an internal compliance team dedicated to holistic security. Its compliance with Nigerian regulations and dedication to transparent operations make it a trusted platform for local investors looking to engage with crypto assets. 3. Bitmama Bitmama is another prominent licensed crypto exchange in Nigeria known for its user-centric features and commitment to security to enhance investor confidence. Key Features: Offers a broad selection of cryptocurrencies, an intuitive app for trading, and straightforward buy/sell options with competitive fees. Security: Includes robust cybersecurity measures and employs strict KYC processes to comply with security mandates. Bitmama has grown popular not only for trading convenience but also for educational content, helping onboard new users safely into the crypto space. 4. NairaEx NairaEx, although newer, ranks highly among Nigerian crypto users for its direct trade features and local currency integration. Key Features: Enables direct Naira deposits and withdrawals with support for multiple cryptocurrencies. Regulation: Fully licensed and compliant with Nigerian SEC policies, ensuring user funds protection and adherence to AML regulations. User Experience: Focuses on simplicity and accessibility, making it easy for users to convert fiat into crypto seamlessly. NairaEx’s localized offering and regulatory clarity make it attractive for users wanting smooth access to the crypto market. 5. Yellow Card Yellow Card operates not only in Nigeria but across Africa with full licenses in multiple countries, including Nigeria, positioning it as a trusted pan-African crypto exchange. Key Features: Instant Naira deposits and withdrawals, educational tools, and zero trading fees for users make it highly compelling. Security: Employs two-factor authentication, encrypted wallets, and regular security updates to maintain robust asset protection. Its strong banking integration, coupled with adherence to Nigerian SEC guidelines, further reinforces Yellow Card’s reputation. 6. Blockchain.com While globally recognized, Blockchain.com is pursuing a formal SEC license in Nigeria to establish itself as a major regulated player with local operations in Africa. Market Presence: Over 80 million wallets globally, with significant Nigerian adoption, making it a market leader in user base. Regulatory Compliance: Engages with Nigerian institutions such as the Central Bank of Nigeria and the Nigerian Inter-Bank Settlement System as it seeks licensing. Vision: Beyond trading, it aims to facilitate practical cryptocurrency use for remittances, payments, and business transactions, aligning with Nigerian crypto culture embracing real-world applications. Its move to secure a full Nigerian license promises expanded services backed by international standards of security and compliance. What Makes These Exchanges Stand Out? Each of these platforms brings something unique to the table. Here’s what makes them noteworthy. Regulatory Licensing and Compliance All these top exchanges operate under Nigerian SEC licenses or actively pursue them, which mandates compliance with KYC/AML regulations, transparent operations, and safety protocols. This reduces fraud risks and promotes investor protection in a market historically vulnerable to scams. Security Protocols Licensed exchanges employ industry-standard encryption, multi-factor authentication, cold storage for funds, and regular security audits, ensuring that user assets remain secure from hacks and theft. Local Currency Integration Naira deposits and withdrawals are streamlined through bank integrations and partnerships with Nigerian payment processors, meaning users can easily convert fiat to crypto and vice versa without cumbersome processes. User-Friendly Platforms These exchanges prioritize intuitive mobile and desktop platforms with clear navigation, educational content, and customer support, making crypto trading accessible to novices and experienced investors alike. Growing Ecosystem Support Some exchanges like Quidax offer APIs and business tools enabling startups and fintech companies to integrate cryptocurrencies into new financial products, growing Nigeria’s crypto ecosystem further. Building Trust and Innovation: Nigeria’s Licensed Crypto Exchanges Lead Africa’s Digital Finance Future Nigeria’s position as a foremost crypto market in Africa is underpinned by a competitive landscape of licensed crypto exchanges that combine solid regulatory compliance, security best practices, and localized services.  Platforms like Busha, Quidax, Bitmama, NairaEx, Yellow Card, and Blockchain.com embody the evolving, maturing market, delivering safe and accessible avenues for Nigerians to participate confidently in the digital asset space. For Nigerian crypto investors, choosing a licensed exchange ensures regulatory protection, security of funds, and seamless access to crypto markets. As the Nigerian SEC continues to refine its licensing and oversight, these exchanges will play a pivotal role in furthering mainstream crypto adoption and innovation within the country. FAQ Why should I use a licensed crypto exchange in Nigeria? Licensed exchanges comply with the Nigerian SEC’s KYC/AML and transparency standards, ensuring safer trading and protecting investors from fraud or loss. How does the Nigerian SEC regulate crypto exchanges? The SEC enforces a licensing framework requiring exchanges to implement identity verification, anti-money laundering measures, and security audits before operation. Are Nigerian banks now allowing crypto transactions? Yes. Since the SEC’s updated guidelines, banks and licensed payment processors can partner with approved exchanges for seamless Naira deposits and withdrawals. Which exchange is best for beginners? Busha and Bitmama are often praised for their user-friendly apps, quick onboarding, and educational content designed for first-time traders. Which exchanges support businesses or developers? Quidax provides API access for fintech integration, enabling startups to build crypto-based services within Nigeria’s growing digital finance ecosystem. Is Blockchain.com officially licensed in Nigeria? As of 2025, Blockchain.com is in the process of securing full SEC licensing to expand regulated services tailored to Nigerian users. How do licensed exchanges ensure security? They use cold wallets, encryption, two-factor authentication, and frequent security audits to safeguard user assets from theft or cyberattacks. What are the benefits of using Naira-based exchanges? Local currency integration allows easy fiat-to-crypto conversion, instant deposits and withdrawals, and lower transaction fees for Nigerian users.

From NFT Market Leader to Crypto Aggregation Hub OpenSea, once the flagship NFT marketplace, has overhauled its business to become a multi-chain crypto trading aggregator after two years of collapsing digital collectible volumes. The platform now supports NFTs, memecoins, and cryptocurrencies across 22 blockchains, reflecting a sweeping rebrand from its NFT-only roots. In details shared with The Block, the company said users can now trade any token via aggregated liquidity from decentralized exchanges including Uniswap and Meteora. OpenSea charges a 0.9% transaction fee while keeping trades non-custodial, meaning it does not hold user funds. It also will not conduct KYC checks, instead relying on analytics firm TRM Labs to monitor and flag sanctioned or high-risk wallets. “You can’t fight the macro trend,” CEO Devin Finzer said, describing the shift as an embrace of the broader crypto market’s renewed appetite for token trading. “People don’t wake up wanting a bridge or a rollup. They want one place where every asset they own, from art to tokens to game items and memes, just works.” Investor Takeaway OpenSea’s pivot signals the end of the NFT boom era and a move toward unified crypto trading — positioning itself closer to Uniswap and Binance than to art-focused rivals. After the Crash: A Rebuild from the Ground Up The transformation follows one of crypto’s steepest market reversals. OpenSea’s monthly revenue plunged from $125 million in January 2022 to just $3 million by late 2023 as NFT sales cratered by more than 90%. Trading volumes across the NFT sector dropped roughly 95% from 2021 peaks, while once-premium collections like Bored Ape Yacht Club and CryptoPunks saw valuations collapse. The company laid off more than half its workforce during the downturn. By late 2023, OpenSea had lost its top spot to rival Blur, which capitalized on fee-free trading before its own activity collapsed this year. The shakeout left OpenSea with a fraction of its previous market share but also prompted the most ambitious redesign in its history. The new model—dubbed OpenSea 2.0—shifts focus from collectibles to a full-spectrum trading platform built for liquidity, not speculation. It combines token swaps, NFT trading, and memecoin activity under one interface. The company says this reflects where crypto users “actually trade now, not just where they once speculated.” Trading Volumes Rebound with Token Expansion Early results suggest the pivot is gaining traction. In the first two weeks of October, OpenSea handled $1.6 billion in total crypto trades and $230 million in NFTs—its strongest month in more than three years. Finzer said overall trading reached $2.6 billion this month, with about 90% of that coming from token activity. The company now operates out of Miami with about 60 employees and plans to launch an OpenSea token through an independent foundation, along with a new mobile app designed to make trading “as intuitive as Robinhood, but fully self-custodial,” according to Finzer’s comments to Forbes. Investor Takeaway OpenSea’s revival depends on sustaining token volume, not NFTs. If it keeps momentum across 22 chains, it could re-emerge as a leading DeFi aggregator rather than a legacy marketplace. Looking Ahead: Consolidation and Competition The rebrand also points to a wider consolidation in digital asset markets as companies seek to diversify beyond single-product niches. OpenSea’s model now resembles that of decentralized liquidity platforms rather than Web3 art galleries, aligning it more closely with onchain finance infrastructure. Analysts say the company’s decision to operate without custody or user data collection helps sidestep regulatory risks that have hit centralized exchanges, but its reliance on TRM Labs for wallet screening still ties it to compliance obligations. Whether OpenSea’s new approach can convert former NFT users into multi-asset traders remains an open question. After leading one of the biggest speculative bubbles in crypto history, OpenSea is betting that the next phase of digital markets will be driven not by hype cycles but by liquidity and utility. For Finzer and his team, that means building what he calls “the venue where the crypto economy actually trades now — not just where it once speculated.”

Changpeng Zhao, often known as CZ, the creator of Binance, has called for stronger regulation in the crypto market after the recent crisis involving QMMM Holdings. This Digital Asset Treasury company is alleged to have stolen investors’ money. CZ states that all DAT companies must use reliable third-party crypto custodians to safeguard digital assets and conduct regular audits that include investors.  Additionally, any DAT project seeking funding from YZi Labs, Binance’s venture arm, must adhere to these rules. People consider this endeavor a crucial step toward making the fast-growing but often opaque DAT sector more transparent and reducing the risk of fraud.  The Rise and Fall of QMMM Holdings After QMMM Holdings announced it would invest $100 million in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) reserves, the company received significant market attention. Following this news, QMMM’s stock price increased by approximately ten times over a few weeks.  The U.S. Securities and Exchange Commission (SEC) stepped in and halted trading, stating that the surge was due to individuals exploiting social media to generate false excitement. Reports indicate that the company shut down shortly after, leaving its Hong Kong office empty, which may have resulted in investors losing their money. This abrupt fallout has brought to light serious problems with security and regulation in the administration of crypto assets.  Need for Openness and Transparency  The QMMM issue serves as a warning about the weaknesses in the DAT model, which allows public businesses to retain crypto treasuries without enough control or independent audits. CZ stresses that third-party custody and investor audits should be required safeguards to protect investors’ interests.  The issue has made people in the crypto industry and regulators like the SEC and FINRA even more determined to crack down on shady practices at more than 200 crypto-holding companies. This event highlights the importance of clear asset storage rules and robust regulatory frameworks in fostering trust and stability within the digital asset ecosystem. Community Debate: Decentralization vs. Custodians CZ’s proposal for audits and custody by third parties has sparked considerable discussion among crypto enthusiasts. Supporters argue that these regulations are necessary to safeguard investors’ money and enhance the legitimacy of DAT initiatives. Others say that multi-signature wallets and self-custody mechanisms with auditor and legal control are better ways to lower counterparty risks without losing decentralization.  Critics argue that obligatory custody could increase the cost of doing business for smaller companies and hinder innovation in the decentralized finance sector. Still, the agreement highlights the importance of finding a balance between security and innovation as the industry evolves. The QMMM case has changed the crypto space forever, making both corporations and authorities rethink how they keep assets safe and protect investors in Digital Asset Treasuries. 

FIFA’s new non-fungible token (NFT) ticket-voucher system, launched in conjunction with its World Cup platform, is now under scrutiny after a Swiss criminal complaint alleged the system operates as unlicensed gambling. The complaint, filed with Swiss authorities, accuses FIFA of allowing users to acquire and trade NFTs tied to match access in a way that mimics betting mechanisms. The case raises serious legal and regulatory questions not just for FIFA, but for the broader crypto gambling ecosystem that combines sports, blockchain, and digital asset platforms. If Swiss prosecutors pursue the matter, it may set precedents for how jurisdictions treat NFT platforms, especially those connected to access, scarcity, and speculative resale. FIFA NFT Complaint: What It Alleges FIFA’s NFT scheme allows fans to purchase digital “tickets” or vouchers as NFTs, which can confer priority access to physical tickets or merchandise drops. The criminal complaint claims that FIFA’s NFT ticket system amounts to gambling under Swiss law because it allows users to speculate on match-access NFTs. Under this model, users may buy, hold, or trade the NFTs in anticipation of value. For critics, these actions are similar to placing bets. Swiss regulators argue that such trades, especially when users purchase NFTs hoping for resale or exclusive access gains, fall under gambling frameworks that require licensing, oversight, and consumer protection measures.  The complaint hinges on whether this system transforms NFTs from digital collectibles to speculative instruments, thereby demanding that FIFA shut down the platform’s operation in Switzerland and submit to regulatory review. Ripple Effects Across Event NFTs and Crypto  The criminal complaint filed against FIFA’s World Cup NFT platform could have sweeping implications for how sports, entertainment, and event-based NFTs are designed and regulated globally.  At its core, the controversy shines light on a growing tension between the collectible utility of NFTs and their speculative trading features, which is a grey area that regulators are increasingly unwilling to ignore. If Swiss regulators deem FIFA’s NFT model to constitute gambling, event organizers worldwide may be forced to reassess their blockchain ticketing models. Until now, NFTs have been a popular solution for fan engagement, with perks like digital tickets, VIP access, or limited-edition memorabilia. However, many of these platforms allow or even encourage secondary trading. That resale market, while lucrative, exposes issuers to legal scrutiny if the NFTs’ value fluctuates speculatively. FIFA’s situation could prompt other organizations, including the NBA and Formula 1, to limit resale, adjust reward structures, or seek explicit licensing under gaming or financial frameworks. The case also raises a question about when an NFT stops being a collectible and starts functioning as a financial product. Overall, the FIFA case could reshape NFT innovation, pushing builders to design utility-first assets with capped returns or non-transferable designs to stay regulatory compliant.

MistTrack, a company that watches the Ethereum and Tron blockchains, says that Tether, the company behind the stablecoin USDT, has frozen $13.4 million worth of USDT that was spread out over 22 wallet addresses. The biggest part of the frozen money, about $10.3 million, was in one Ethereum wallet that started with “0xecbd8.”  A Tron wallet that started with “TYzDeb” also had a lot of money blocked, about $1.4 million. The company hasn’t said where these wallets came from or why they were frozen, although these kinds of steps are often done to follow demands from law authorities and global banking rules. Patterns of Following the Rules and Punishing Those Who Don’t This freeze is in line with what Tether has been doing all year. The corporation has often stepped in by disabling wallets that are related to illegal or dubious activity, including fraud, funding terrorism, or breaking sanctions.  For example, Tether froze $28 million on the Russian exchange Garantex earlier this year. In June, it froze $12.3 million on the Tron network, and in April, it froze $28.67 million. These steps are usually done with the aid of more than 290 law enforcement agencies in 59 countries, which helps stop criminal money transfers on blockchain networks.  Tether’s Freezes Cause Legal Disputes Tether’s frozen operations have led to legal problems, even though the company has worked with the authorities. Riverstone Consulting, a Texas-based corporation, recently sued Tether for illegally freezing $44.7 million worth of USDT.  Riverstone says that Tether’s decision to freeze cash at the request of Bulgarian authorities broke official international legal procedures and led to big losses for investors. This case highlights the growing concern over how centralized stablecoin issuers like Tether manage user assets and whether they comply with the law in doing so.  What Makes Tether Freeze Wallets? Tether’s freezing feature is meant to follow anti-money laundering (AML) rules and rules for enforcing penalties. When law enforcement identifies wallets used for illegal activities, such as fraud, terrorism financing, human trafficking, or connections to darknet markets, Tether may freeze those addresses to prevent further transactions. It also looks for links to sanctioned groups and illegal mixing services like Tornado Cash.  Freezing these wallets helps keep the bitcoin ecosystem safe and is in line with Tether’s global compliance duties. Tether recently froze $13.4 million USDT across 22 wallet addresses. This is part of their ongoing effort to prevent criminals from using Bitcoin, while also navigating complex legal and regulatory issues.  These steps make the world’s financial system safer, but they have also led to calls for more openness and for following the law to protect users’ rights. This event shows how important it is for centralized stablecoin issuers to find a balance between following the rules and protecting users’ interests in the changing crypto world. 

German Chancellor Friedrich Merz has revived an idea that’s been floating around Brussels for years: building a single, pan-European stock exchange. The goal, he told lawmakers this week, is simple enough—stop Europe’s high-growth firms from heading to Wall Street. “Successful companies such as biotech firms from Germany should not have to list on the New York Stock Exchange,” Merz told the Bundestag on Thursday. “They need broad and deep European capital markets so they can finance themselves better and faster.” His comments land at a moment when EU policymakers are struggling to make the Capital Markets Union more than a slogan. Europe’s stock markets remain splintered across dozens of exchanges and trading systems, and the bloc’s startups often find deeper liquidity and investor appetite across the Atlantic. A familiar message, but with new urgency Merz’s call drew immediate applause from Euronext, which already operates bourses in Paris, Amsterdam, Brussels, Milan, Lisbon, Dublin and Oslo. Chief Executive Stéphane Boujnah said in a statement that the company “welcomes Chancellor Merz’s call for deeper and more attractive European capital markets,” adding that Euronext “is ready to contribute to the next level of consolidation.” That consolidation is already underway. Earlier this month, Euronext launched an offer to acquire all shares of the Athens Stock Exchange (ATHEX), extending its footprint into southern Europe. If completed, the deal would bring Greece under the same umbrella as the rest of the Euronext network, creating a shared infrastructure for listings and clearing. The company’s “federal model” allows national markets to keep their identity while using common technology and rulebooks. Boujnah has long argued this approach could serve as the foundation for a broader European platform—one that merges liquidity while avoiding political battles over control. Why fragmentation is a problem Since the EU’s MiFID directive in 2007 opened markets to competition, trading has exploded across hundreds of venues. Today, more than 500 trading platforms operate in the EU, from national exchanges to private “dark pools” run by banks and brokers. The result is a patchwork of rules, fees, and systems that make it harder for investors to see prices and for smaller companies to raise money. Roughly a third of European share trading now happens off-exchange, according to industry data. While competition brought innovation, it also drained liquidity from national bourses and weakened Europe’s visibility on the global stage. “One deep pool of liquidity, lower trading costs, and stronger global visibility for European companies—that’s the potential,” said Sylvain Thieullent, chief executive of Horizon Trading Solutions. “But harmonising rulebooks and infrastructures would take time and close collaboration.” The politics behind the idea Merz’s proposal puts Berlin closer to Paris in the long-running debate over financial integration. France has typically backed stronger EU-level supervision, while Germany has been cautious about handing power to Brussels. But the Draghi report on EU competitiveness earlier this year gave the idea new political weight, warning that Europe needs unified capital markets to finance its transition to green and digital industries. Still, the road to one exchange is steep. Europe’s antitrust watchdogs blocked the 2017 merger of Deutsche Börse and the London Stock Exchange, arguing it would have created a monopoly in clearing services. Regulators would likely take a hard look at any future attempt to create a single operator. Even if politics align, the plumbing of Europe’s markets remains tangled: clearinghouses, central securities depositories, data vendors, and national regulators all operate under different rules. Few expect one “European Stock Exchange” to appear overnight. More likely is a federal structure, where groups like Euronext continue stitching together regional markets under common systems. A key milestone could be the consolidated tape—a long-awaited EU project to provide real-time price data across venues. That initiative, alongside the gradual alignment of listing and insolvency rules, could be the stepping stones to the deeper liquidity Merz envisions.

Trading and entertainment have officially converged. In a move that blends AI creativity with mobile-first engagement, global broker Octa has launched an in-app vertical mini-series to promote its proprietary trading platform, OctaTrader. The four-episode campaign, titled ‘Out of Time’, is more than a product spotlight—it’s a signal that fintech marketing has entered its vertical-video era. Why Vertical Storytelling Became Fintech’s Next Frontier Mobile-first content has rewritten the rules of digital communication. Platforms like TikTok, Instagram Reels, and YouTube Shorts now dominate screen time across demographics, with vertical video consumption expected to account for over 75% of all mobile traffic by 2026. What began as social entertainment has evolved into a storytelling medium—and fintech brands are finally catching up. According to recent market projections, the vertical video industry is on track to reach a $14 billion valuation by 2027. The format’s rise mirrors the macro shift in user behavior: more than 60% of all global internet activity now happens on mobile devices, and younger generations expect brands to deliver content natively within that environment. Marketing Insight Vertical storytelling is no longer optional. For fintech brands, native mobile content isn’t just about format—it’s about context, emotion, and platform fluency. Octa’s Campaign: Blending AI Creativity with Platform Utility In September 2025, Octa introduced its vertical AI-generated mini-series ‘Out of Time’, comprising four one-minute episodes available directly inside the OctaTrader app. Each short skit humorously portrays outdated trading habits—paper charts, dial-up nostalgia, and over-complicated UIs—before contrasting them with OctaTrader’s sleek, AI-enhanced interface. By situating the campaign inside its proprietary app rather than external platforms, Octa created a self-contained user journey: discovery, engagement, and conversion happen within the same ecosystem. The in-app delivery also reflects a strategic pivot toward personalization and data-driven engagement, allowing the company to measure interaction metrics in real time. Marketing Insight By embedding storytelling directly into its app, Octa blurs the line between promotion and product experience—a model fintech marketers can replicate for conversion-driven engagement. Why the “In-App Vertical Series” Format Matters While most fintechs rely on banner ads or influencer collaborations, Octa’s use of an in-app vertical series marks a structural innovation in campaign design. It achieves three goals simultaneously: Native user reach – Content meets traders where they already operate, reducing friction between curiosity and action. Retention through entertainment – Episodic storytelling encourages repeated logins, extending engagement time. AI-driven personalization – Built-in analytics track viewing patterns, enabling adaptive recommendations for other in-app content and educational modules. Marketing Insight In-app media transforms apps from utility tools into branded ecosystems. For fintechs, it’s an untapped space combining education, entertainment, and conversion potential. “Out of Time”: Retro Aesthetics Meet Modern Technology The creative backbone of ‘Out of Time’ lies in contrast. Each AI-generated vignette features characters trapped in vintage trading routines—faxed stock orders, analog tickers, floppy disks—before introducing OctaTrader as the fast, intelligent solution that “pulls traders into the future.” The production’s retro-futurist aesthetic evokes 1980s tech optimism while underscoring the message: refusing innovation means staying out of time. This comedic storytelling resonates with retail traders who recognize their own frustrations with outdated platforms. Humor lowers cognitive barriers and makes the technology narrative human. For fintech audiences traditionally saturated with technical jargon, this tonal shift is refreshing. Marketing Insight Humor and nostalgia work in fintech when tethered to utility. “Out of Time” proves that light-hearted storytelling can still drive serious conversion metrics. OctaTrader: From Platform to Ecosystem Behind the creative campaign stands a decade of product evolution. Founded in 2011, Octa operates globally as a licensed financial broker with a clear mission—to make trading data-driven, transparent, and psychologically easier for retail users. The firm’s flagship product, OctaTrader, consolidates trading, analytics, education, and account management into a single cross-device environment. OctaTrader leverages AI and behavioral analytics to simplify complex decision-making. Traders can access personalized insights, execute orders with minimal latency, and withdraw funds seamlessly—all within an interface designed to reduce cognitive load. The platform exemplifies how fintechs are evolving from transactional brokers to holistic ecosystems focused on user wellbeing and performance. Marketing Insight Octa’s ecosystem positioning—“trade, learn, and withdraw in one place”—illustrates the competitive edge of product-centric marketing in fintech’s experience economy. AI-Generated Content: Efficiency Meets Creativity Octa’s decision to use AI-generated visuals for “Out of Time” wasn’t just aesthetic—it was strategic. AI reduced production time and costs while enabling quick iterations and multilingual adaptations. Each episode was localized for multiple regions, supporting Octa’s global user base without the logistical overhead of traditional shoots. The result: a scalable creative model that future fintech marketers can emulate. AI-assisted content now allows campaigns to launch within days, not months, without compromising quality or emotional resonance. Marketing Insight AI democratizes creative production. For fintech brands operating across borders, it enables cultural localization and faster time-to-market at enterprise scale. Performance Metrics: Overperformance Through Engagement Since launch, “Out of Time” has outperformed expectations across engagement and retention metrics. Early campaign data—measured via in-app analytics—shows higher user dwell time and conversion rates to OctaTrader’s advanced features following video views. While Octa hasn’t disclosed exact figures, the company confirmed that the series exceeded initial targets for watch-through and click-to-conversion ratios. This success highlights a broader trend: fintech promotions that educate or entertain outperform static banners or generic influencer placements. By integrating content inside the app, Octa turns marketing into an ongoing relationship rather than a one-off exposure. Marketing Insight Fintech engagement hinges on relevance and reward. In-app campaigns convert better because they blend user education, entertainment, and immediate actionability. The Broader Lesson: From Ads to Experiences Octa’s vertical series underscores a fundamental evolution in fintech marketing: audiences don’t want ads—they want experiences. As brokers, wallets, and investment apps compete for user attention, differentiation now depends on experience design, not just pricing or spreads. By making promotion a feature rather than an interruption, Octa showcases how storytelling can live organically within product infrastructure. Other fintech players are likely to follow suit. Expect 2026 to bring a wave of branded mini-series, gamified in-app lessons, and interactive storytelling modules built directly into trading or payment environments. Marketing Insight Fintech marketing is shifting from acquisition to immersion. Brands that build storytelling into their products will define the next phase of financial engagement. Conclusion: Octa’s “Out of Time” and the Future of Fintech Storytelling Octa’s experiment with vertical video and AI-driven creativity isn’t just a clever campaign—it’s a blueprint for the future of fintech communication. As trading evolves into a lifestyle-oriented digital experience, the brands that blend entertainment, education, and usability will dominate both attention and retention. By combining mobile-native storytelling with product utility, OctaTrader’s campaign transforms the app itself into a content hub—a strategy that aligns with how modern users consume, decide, and act. In doing so, Octa positions itself at the intersection of finance, creativity, and technology, setting a new benchmark for how fintechs can promote trust and innovation simultaneously. Marketing Insight Octa’s “Out of Time” proves that the future of fintech marketing lies in vertical integration—both in format and philosophy. When content, product, and user meet seamlessly, engagement becomes inevitable.

Ghana is making big steps toward regulating its Bitcoin sector, which is growing quickly. The Bank of Ghana said that by the end of 2025, it will put in place full rules for cryptocurrencies.  This came after a bill about the issue was sent to parliament. This push for regulation is a response to the growing use of cryptocurrencies in the country and the need to protect the financial system from potential exploitation. Changes in Institutions and the Regulatory Framework Over the past few months, individuals have been working on a draft bill to regulate cryptocurrency. Johnson Asiama, the governor of the Bank of Ghana, said that the law should be in parliament by December 2025.  This law will make it possible for strong oversight systems and institutional ability to keep an eye on and control Bitcoin transactions in a way that works. To back this up, the central bank is setting up a special department just for the crypto sector. This shows how serious the government is about regulating digital assets. Reasons Behind the Push for Regulation There are a number of reasons why cryptocurrencies have become so popular in Ghana so quickly. A burgeoning crypto environment is due to a tech-savvy populace, easy access to the internet, and the rise of Virtual Asset Service Providers (VASPs).  Many Ghanaians have turned to alternative assets like Bitcoin as a way to protect themselves from financial instability because of problems with the economy, such as inflation and the value of the currency falling. More than three million people in Ghana have used cryptocurrencies, which shows how important it is to have rules in place to stop people from abusing the system. The Sandbox Initiative to Promote New Ideas Ghana’s central bank has started a digital sandbox experiment to find a balance between innovation and regulation. This program lets some crypto companies try out new products and services while being watched by regulators. The goal of the program is to encourage new ideas while still protecting consumers and keeping the economy stable. Ghana Joins the Wave of Crypto Regulations in Africa Ghana’s decision to regulate cryptocurrencies puts it in line with other African countries that are taking action in the crypto field. Kenya just enacted the Virtual Asset Service Providers Bill, 2025. This law creates licensing systems and protects consumers.  Nigeria passed laws that define cryptocurrency as securities under its Investments and Securities Act 2024 and impose taxes on crypto transactions. Under the Virtual Assets Act, which passed in 2023, Namibia also gave temporary licenses to crypto exchanges. All of these things show that Africa is starting to realize how powerful crypto can be and how badly it needs rules to protect it. Conclusion: A Fair Way to Regulate Crypto Ghana is working on crypto legislation that will go into effect by the end of 2025. This shows a balanced approach: welcoming new technologies and business opportunities while reducing the hazards that come with unregulated digital assets.  The creation of a separate regulatory bureau and a digital sandbox shows that the country is serious about building a safe and supervised crypto industry. There are more than three million Ghanaians who are now involved in crypto activities. These rules will help make the sector more legitimate and provide it with more oversight.

Japan’s three largest banks — MUFG, Mizuho, and Sumitomo Mitsui Banking Corporation (SMBC) — have agreed to issue a yen- and dollar-backed stablecoin. The move marks another milestone in institutional adoption of on-chain finance in Asia, and the banks aim to launch the coin in late 2026, beginning in domestic markets before expanding globally. According to reports, the banks framed the initiative as a strategic response to rising demand for programmable money and digital settlement tools. The joint stablecoin is intended for use in interbank settlements, cross-border trade, and corporate treasury operations, positioning Japan as a serious competitor in the institutional crypto infrastructure space. Cooperation at Scale: Why Japan’s Megabanks Are Launching A Sablecoin  By combining forces, Japan’s top banks seek to avoid duplication, align on compliance standards, and share infrastructure costs. The collaboration also helps distribute risk and ensure broader acceptance across Japan’s financial ecosystem. The banks have reportedly formed a special purpose vehicle (SPV) to issue and manage the stable coin. They plan to back each token with reserves held in high-quality assets such as short-term government bonds and cash, maintaining a 1:1 peg to the yen or dollar. Initial use cases will focus on wholesale settlement and institutional flows rather than retail distribution. Analysts view the partnership as a way for Japanese banks to introduce regulated, bank-issued stablecoins into mainstream finance and reduce reliance on privately issued tokens like Tether’s USDT and Circle’s USDC, which are denominated in foreign currencies. The banks may also integrate the stablecoin with their existing digital banking and payment platforms, giving clients seamless access, especially since a Yen-backed stablecoin has already been launched earlier this year.  Japan Banks to Strengthen Asia’s Stablecoin Competition This joint effort by Japan’s banking giants carries wide-ranging implications, including a strong competition with global stablecoins: The yen/dollar stablecoin could compete with U.S. dollar pegged tokens like USDC and USDT, especially in Asia, where demand for local-currency settlement is rising. Also, if successful, the bank-issued stablecoin may streamline international trade and reduce dependence on correspondent banking. Japanese firms could settle with partners globally on-chain with fewer frictions.  Ancillary service providers, including custody firms, compliance layers, and blockchain platforms, may also increase their partnerships or developments around this stablecoin, reinforcing Japan’s role in Asia’s crypto infrastructure. This is because a major vote of confidence by established banks may accelerate institutional trust in stable assets, particularly when backed by regulated banking issuers. At a time when many countries are debating stable coin regulation, Japan’s move from consensus to deployment signals that regulated banking institutions see tokenized money as a near-term industrial transformation, not a speculative gamble. If executed well, this may be the prototype for future bank-issued, regulated stablecoins across the world. However, Japan’s financial regulators must now ensure frameworks that allow bank-issued stable coins, reserve audits, and cross-border compliance without stifling innovation.

Recent research reveals that North Korea’s cyber forces, particularly the notorious Chollima organization, are utilizing innovative blockchain-based tools to facilitate their covert hacking operations. This change marks a significant advancement in cyber warfare, leveraging new technology to combine traditional espionage with financial crimes. The Breakthrough Method: EtherHiding EtherHiding is a stealth technology that is at the center of this new wave of digital spying. The Google Threat Intelligence Group (GTIG) and Mandiant Threat Defense have both established that UNC5342, a cyber threat actor linked to North Korea, has been employing EtherHiding to hide harmful code in blockchain smart contracts since early 2025. This method embeds malware in a public blockchain, such as Ethereum or BNB Chain, making the payload difficult to remove. How EtherHiding Works EtherHiding alters blockchain transactions by adding harmful scripts to smart contracts, effectively turning the blockchain into a decentralized command and control system. This new method enables hackers to store and retrieve dangerous payloads without detection by regular security technologies. Covert Operations Disguised as Job Offers One of the most worrying things about North Korea’s cyber approach is that it uses fake job recruiters to trick people. The Lazarus Group, a North Korean cyber squad, has recently used fake LinkedIn profiles to trick aerospace workers in Spain into thinking they were Silicon Valley recruiters.  These actors use coding challenges that are infested with malware. When these challenges are run, they install remote access Trojans like LightlessCan, which give them exclusive access to the infected systems. This strategy includes initiatives called Contagious Interview and Wagemole, in which bad people pose as hiring supervisors to get to their targets. They utilize false job offers on sites like GitHub to spread malware that can run complicated commands on a variety of operating systems, such as Windows, Linux, and macOS. Stealing Money and Laundering Cryptocurrency Money is another reason why North Korea’s cybercriminals engage in cybercrime. Since 2023, the regime-linked group UNC5142 has utilized blockchain technology to facilitate cryptocurrency theft and launder the stolen funds.  In 2025 alone, North Korean hackers stole more than $1.3 billion, and at least $300 million of that has been successfully laundered and moved out of the reach of the police. Their operations utilize advanced methods, including automatic conversions and transfers between cryptocurrencies, to conceal their activities. A New Age of Cyber Crime and Espionage The use of blockchain stealth methods like EtherHiding marks a new stage in government-sponsored cyber operations. To stay ahead in global cyber wars, North Korea is using a mix of cyber espionage, financial crime, and social engineering. The continuous deployment of these tactics demonstrates an extraordinary level of expertise and resilience, challenging standard cybersecurity measures. North Korea continually develops new methods of cyber warfare, and the use of blockchain-based stealth tactics like EtherHiding demonstrates how modern cyber threats are evolving. Governments and businesses must act swiftly to identify and counter these covert attacks, which blur the lines between cybercrime and state-sponsored espionage. These changes have far-reaching effects, not just on cybersecurity but also on global stability.

GESPA Alleges Unlicensed Gambling via FIFA Collect Switzerland’s gambling regulator, Geldspielaufsicht (GESPA), has filed a criminal complaint against FIFA over its World Cup NFT collection, claiming the football governing body’s platform, FIFA Collect, operates as an unlicensed gambling service.In a statement Friday, GESPA said it had become aware of the collect.fifa.com platform in early October. The regulator said FIFA Collect offers online competitions such as “drops” and “challenges” involving digital collectibles, where participation requires monetary payment and prizes are distributed through chance-based draws. GESPA concluded that these mechanics amount to gambling under Swiss law, qualifying parts of the platform as lotteries and parts as sports betting. Under the Federal Act on Gambling, GESPA is required to report such violations to prosecutors. The regulator said it has now referred the matter for potential criminal prosecution, noting that the final decision on liability will rest with law enforcement. “Participation in these competitions requires a monetary stake, with cash prizes available to be won,” GESPA said. “The outcome for participants depends on random draws or similar chance-based procedures.” FIFA, headquartered in Zurich, did not immediately respond to a request for comment. The complaint marks a rare confrontation between Switzerland’s top gaming regulator and the world football body, which is also a major employer in the country. Investor Takeaway The case highlights how European regulators are extending gambling laws to digital collectibles and NFTs that include random or prize-linked elements. Background: FIFA’s NFT and Blockchain Ambitions FIFA launched its digital collectibles project ahead of the 2022 World Cup to commemorate key moments in tournament history. Initially built on the Algorand blockchain, the collection later migrated to Polygon in 2023. The platform’s promotional campaigns allowed users to win rewards, including 2026 World Cup tickets, by purchasing and trading NFTs. “This makes FIFA collectibles available to any football fan, democratizing the ability to own a part of the FIFA World Cup,” Romy Gai, FIFA’s Chief Business Officer, said when the project launched. “Just like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to engage with their favorite players, moments and more on new platforms.” Earlier this year, FIFA said it planned to launch its own EVM-compatible blockchain based on Avalanche technology, called “FIFA Blockchain,” which will host future NFT collections and related digital assets. The organization has pitched the project as part of a long-term effort to modernize fan engagement and revenue models. Legal Context and Industry Reaction Swiss regulators have taken an increasingly strict stance toward crypto-linked promotions that blur the line between collectibles and gambling. Under the country’s gambling law, any game involving a financial stake and a random prize draw requires a license. Unlicensed platforms can face criminal penalties, even if operated abroad but accessible to Swiss users. Legal experts say the FIFA case could become a benchmark for how regulators classify NFT-based games or promotions. “If prosecutors agree with GESPA’s assessment, it could set a precedent that affects NFT marketing across Europe,” said a Zurich-based fintech lawyer familiar with Swiss gambling law. For FIFA, the investigation adds regulatory pressure at a time when the organization has sought to expand its digital offerings through partnerships in blockchain, fan tokens, and metaverse platforms. While the complaint does not immediately suspend operations of FIFA Collect, it could complicate future tokenized projects if prosecutors decide the mechanics constitute gambling under Swiss law. Investor Takeaway FIFA’s NFT strategy faces a legal test in its home jurisdiction. The outcome could influence how sports organizations structure blockchain-based fan engagement tools across Europe.