Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

$400B in 2025 payments has banks on edge

RegulationAug 5

Stablecoins have long been considered the “cash” of cryptocurrency markets, providing a means of trading Bitcoin, transferring liquidity between exchanges, and avoiding volatility without ever leaving the blockchain. Now, traditional consumers are also embracing stablecoins. In the past year alone, stablecoin frameworks have been introduced by regulators. At the same time, stablecoin rails have been integrated by payment giants, and businesses are experimenting with them for cross-border payments. Naturally, this has raised an important question: Are stablecoins replacing banks? Cross-border payment mechanism To put things in perspective, traditional cross-border payments still depend on pre-funded nostro accounts, SWIFT messaging, and correspondent…

Evernorth updates SEC filing for $1B XRP treasury

AltcoinsAug 5

Ripple-backed Evernorth Holdings has amended its SEC registration statement after finalizing employment terms for three senior executives as it works toward a Nasdaq listing and a planned $1 billion public $XRP treasury. Evernorth adds three executive agreements to SEC filing Evernorth disclosed new employment agreements for chief legal officer Jessica Jonas, chief business officer Sagar Shah and chief operating officer Meg Nakamura in its latest filing with the U.S. Securities and Exchange Commission. Each executive is eligible for an annual bonus equal to 50% of their base salary. The compensation packages also include restricted stock units and employee benefits, according…

Franklin Templeton Joins Blackrock, Fidelity, Goldman Sachs in Backing CLARITY Act

LegalAug 5

Franklin Templeton Adds to Wall Street’s CLARITY Act Support Financial giant Franklin Templeton, a subsidiary of Franklin Resources Inc. (NYSE: BEN), announced its endorsement of the CLARITY Act on July 27 after reporting $1.79 trillion in assets under management as of June 30. The firm indicated that the CLARITY Act would establish clearer rules for digital assets, helping investors better understand the protections available to them while giving companies greater certainty over which federal regulators oversee their operations. Franklin Templeton added that the legislation would provide the regulatory clarity the crypto industry has long sought. Franklin Resources announced on July…

BitMart withdrawals appear to slow following wind-down announcement

ExchangesAug 5

Withdrawals from crypto exchange BitMart appeared to slow after it announced plans to wind down its operations. On Monday, blockchain analytics account Lookonchain reported that only 58 wallets withdrew about $805,000 in over 24 hours. It added that the exchange had not processed any withdrawals during the latest eight-hour period it tracked. X users also continued to report withdrawal difficulties. One user said they received an email stating that a USDT withdrawal had been completed even though the transaction had not been processed and their account displayed an “on-chain withdrawal freeze.” Another user said a $30 test withdrawal remained pending…

Ondo Finance Brings USDY, a Yield-Bearing Stablecoin Backed by U.S. Treasuries, to BNB Chain

BlockchainAug 5

Ondo Finance has expanded the availability of its yield-bearing stablecoin, $USDY, to $BNB Chain. The move brings a tokenized version of U.S. Treasury bills and short-dated government bonds to one of the largest blockchain ecosystems by total value locked, giving $BNB Chain users a regulated avenue for earning yield on dollar-pegged assets. $USDY: A Tokenized Bridge to U.S. Treasuries $USDY is designed to offer holders a stable value of $1 while accruing yield from a diversified portfolio of U.S. Treasuries and bank deposits. Unlike algorithmic stablecoins that rely on complex mechanisms to maintain their peg, $USDY is backed by real-world,…

BlackRock's new bitcoin income fund offers cash flow alongside BTC exposure

BitcoinAug 5

The new fund offering comes as bitcoin struggles to break out of a bear market, trading around $67,000, down about 23% year to date. IBIT, which debuted in January 2024, has amassed nearly $49 billion in assets, making it the largest spot bitcoin ETF on the market. The fund has seen significant outflows since the beginning of the year, though, amid lower bitcoin prices and excitement around other asset classes, including the highly anticipated initial public offerings (IPOs) of SpaceX (SPCX) and Anthropic. But Jacobs said BlackRock sees several potential audiences for the new fund. One group consists of income-focused…

526 million tasks, two dollars each: Pi’s human workforce

AltcoinsAug 5

Pi Network paid more than a million people to verify eighteen million identities across half a billion discrete tasks, then published the exact formula for what it paid them. Every outlet reproduced the formula. Not one converted it to dollars. Here is the number, and what it says about crypto’s largest experiment in distributed human labour. There is a specific kind of number that gets repeated across dozens of articles without anyone stopping to convert it, and Pi Network produced a textbook example this year. The project announced that more than a million verified users had completed over 526 million…

Zimbabwe admits seven fintech projects to regulatory sandbox

LegalAug 5

Zimbabwe’s securities regulator has admitted seven financial technology projects to its regulatory sandbox, with tokenization accounting for most of the latest group. The Securities and Exchange Commission of Zimbabwe (SECZ) listed Zimbabwe Entrepreneurship Exchange, Ndarama Standard, Questview Brokers, Crowdaxe Capital, Procode Platforms, Financial Securities Exchange, or FINSEC, and Colmin Resources Zimbabwe as approved participants. The projects cover blockchain-based capital raising, crowdfunding, synthetic trading and the tokenization of assets, securities and infrastructure, with four of the seven directly focused on tokenization. According to SECZ’s Regulatory Sandbox Guidelines, admission to the sandbox allows projects to undergo controlled testing under regulatory supervision, but…

Bitcoin Exchanges Upbit and Bithumb Announce They Have Listed This Altcoin on Their Platforms! Here Are the Details

ExchangesAug 5

South Korea’s leading cryptocurrency exchanges, Upbit and Bithumb, have announced they will list the $GEOD token on their platforms. According to official statements, Upbit will offer $GEOD with trading pairs against the South Korean won (KRW), Bitcoin ($BTC), and Tether ($USDT). Bithumb, on the other hand, will initially list the token only with the KRW trading pair. According to the announcements, $GEOD trading on Bithumb is scheduled to begin at 18:00. Upbit will also open trading for the token in three different trading pairs on the same day, offering investors a wider range of trading options. Following the listing decision,…

Wells Fargo joins JPMorgan and Citi in the race to tokenize Wall Street’s settlement rails

BlockchainAug 5

Wells Fargo (WFC) will offer tokenized deposits for select corporate and commercial clients later this year, starting with enabling round-the-clock U.S. dollar-to-British pound transactions on its proprietary blockchain. The bank frames round-the-clock settlement, programmable payments and parity with its existing deposit protections as future enhancements, saying the system will let clients move, program and settle funds 24/7/365 "when fully deployed." The limited initial rollout will expand to more clients, countries and currencies throughout 2027. Its system will automatically route eligible payments through tokenized deposits when doing so improves speed or flexibility, without changing how clients interact with the bank. Tokenized…