Solana DEX Volumes Fall to September 2024 Lows – SOL Tests $80 Support Amid Fee Decline

Key Takeaways

SOL Price Correction Follows Rejection at $93

Solana’s native token SOL experienced an 11% correction after failing to break above the $93 level last Wednesday. Following the rejection, the token underperformed the broader cryptocurrency market over the past week and repeatedly tested support near $80.

Market data shows that traders are closely monitoring this price zone. Concerns about a potential move toward $75 have increased as network activity metrics weakened in parallel with the price decline. The correction comes at a time when overall crypto market capitalization has also fluctuated, adding to short term volatility in major assets.

For users active in crypto markets, including those using SOL for decentralized applications or as a transactional asset, price stability around key support levels often plays a role in liquidity decisions and platform usage.

DEX Volumes Drop to Multi-Month Lows

A central factor behind the recent pressure on SOL is declining activity on Solana-based decentralized exchanges. According to DefiLlama data cited in the report, Solana DEX volumes fell to $55.5 billion in March. This represents the lowest level recorded since September 2024.

Although Solana continues to lead in absolute DEX volume compared to Ethereum’s mainnet alone, activity has slowed significantly over the past two months. The drop in trading volumes has directly affected network fee generation, which depends heavily on decentralized trading activity.

Ethereum’s DEX volumes reached $41 billion in March, reflecting a 23% decline compared to two months earlier. However, when Ethereum layer-2 networks such as Base, Arbitrum, Polygon, and Optimism are aggregated, Ethereum’s overall DEX market share increased to 42% in March from 33% in January.

This shift indicates that trading activity within the Ethereum ecosystem is increasingly migrating to layer-2 solutions. For Solana, the gradual erosion of dominance in decentralized trading has coincided with weaker token price performance.

Network Fees Fall 42% Since January

The decline in decentralized exchange activity has translated into lower fee revenue for the Solana network. Monthly network fees dropped to $18.5 million in March, marking a 42% decrease from January’s $30 million.

Despite this decline, Solana generated 80% more network fees than Ethereum over the past 30 days. The difference is attributed to Ethereum’s incentive structure for layer-2 rollups, which use temporary data blobs to reduce transaction costs.

Total value locked on Solana stood at $6.3 billion, compared to Ethereum’s $54.1 billion. While the gap in locked capital remains substantial, Solana’s ability to generate higher network fees during the same period highlights structural differences in how each ecosystem captures value.

For market participants, fee generation is often viewed as an indicator of network usage and economic activity. Changes in this metric can influence how investors assess protocol sustainability and token demand.

Solana Leads in High-Revenue DApps

Even as DEX volumes declined, Solana recorded the highest number of decentralized applications generating at least $1 million in revenue over the past 30 days. Thirteen Solana-based DApps reached that threshold.

By comparison, Ethereum had 11 DApps generating $1 million or more in the same period. BNB Chain and Base each recorded four DApps above the $1 million mark.

The presence of high revenue applications is significant because protocol revenues tend to attract developer and investor attention. Applications such as Pump, Helium Network, and ORE Protocol contributed to Solana’s revenue figures.

This concentration of revenue-generating projects indicates continued economic activity within the ecosystem, even as trading volumes on decentralized exchanges have moderated. For users evaluating blockchain networks for development, trading, or payment use cases, the distribution of DApp revenue provides an additional metric beyond price performance alone.

Competitive Pressure From Ethereum Layer-2 Networks

The growth of Ethereum’s layer-2 ecosystem represents a competitive dynamic for Solana. As aggregated DEX market share within Ethereum and its scaling solutions rose to 42% in March, Solana’s relative dominance narrowed.

Layer-2 rollups aim to lower transaction costs and improve scalability by processing activity off the Ethereum mainnet while still relying on its security framework. The report attributes part of Ethereum’s changing fee structure to incentives related to these rollups.

For traders and liquidity providers, the availability of multiple scaling environments can influence where capital is deployed. The redistribution of DEX market share suggests that trading activity is becoming more fragmented across networks.

Our Assessment

Solana’s recent 11% price correction occurred alongside declining decentralized exchange volumes and a 42% drop in monthly network fees since January. DEX activity fell to its lowest level since September 2024, while Ethereum layer-2 networks increased their aggregated market share.

At the same time, Solana recorded 13 DApps generating more than $1 million in 30-day revenue, the highest count among compared networks. Despite lower trading volumes, the ecosystem continues to host revenue-producing applications and generated more network fees than Ethereum over the past 30 days.

The data shows a divergence between short term trading activity and application level revenue within the Solana ecosystem, while competitive pressure from Ethereum’s layer-2 networks continues to reshape decentralized exchange market share.

Brussels Opens Casino Concession Tender Until 2041 – Operators Face New Bidding Process and Financial Conditions

Key Takeaways

Brussels Publishes Concession in EU Official Journal

The city of Brussels has formally opened the tender process for its land based casino concession. The announcement was published in the Official Journal of the European Union on March 26, initiating a competitive bidding procedure for the right to operate the property until December 31, 2041.

Interested operators must submit their applications by May 22 to the city’s land management agency. The selection process will be based on the quality of the offer and the financial contributions promised by bidders. This indicates that both operational concepts and financial commitments will play a central role in the final decision.

The new concession will replace the current license held by Viage, which has operated the casino since 2010. That license expires on December 31, following a one year extension that was granted due to the COVID-19 pandemic.

Operational Requirements and Financial Conditions

The tender documentation outlines specific operational and financial conditions for applicants. One key requirement is a minimum fee of €337.42 per square meter allocated to gaming operations. This fee directly links the cost of the concession to the size of the gaming area operated by the successful bidder.

In addition, the concession mandates the operation of at least 30 traditional gaming tables. The current casino operates 37 traditional tables and 400 slot machines, suggesting that the minimum requirement reflects existing operational levels.

The property covers 14,000 square meters in the city center of Brussels. It records approximately 310,000 visits annually and employs 270 people. According to the information provided, the casino has reported profitability since 2019.

The operator is also subject to a regional tax regime. Slot machines are taxed at 50% of gross gaming revenue. Table games, by contrast, are exempt from this specific regional tax. This distinction directly affects revenue composition and cost structure for any operator assessing the financial viability of a bid.

Estimated Value and Public Revenue Targets

The Brussels casino concession carries an estimated value of €750 million. This figure reflects the long duration of the concession and the scale of the operation in the Belgian capital.

Authorities in Brussels plan to increase gaming related tax income by €20 million per year. While the precise mechanism for achieving this increase has not been detailed, the objective signals a focus on higher fiscal returns from the sector. Any future concession holder will need to factor this revenue target into its financial planning and bidding strategy.

The current operator, Viage, has invested nearly €80 million across two locations, including a previous site at Salle de la Madeleine. Such investment levels illustrate the capital intensity associated with operating a large scale urban casino under a long term concession agreement.

Current Operator and Potential Bidders

Viage is a subsidiary of Casinos Austria International. The parent company operates 12 casinos in Austria, while its international division manages five locations in Australia, Switzerland, Serbia, and Belgium. Viage is seeking renewal of its Brussels license under the new tender.

Gaming1, part of the Ardent Group, is reportedly considering submitting a bid. Other operators have also shown interest in the concession, although no full list of applicants has been disclosed.

For companies active in land based gaming, the Brussels concession represents a long term presence in a central European capital with established visitor traffic and a proven record of profitability in recent years. The competitive process is expected to weigh both operational expertise and the scale of financial commitments offered to the city.

What the Concession Means for the Local Gaming Market

The Brussels casino operates 400 slot machines and 37 traditional gaming tables, positioning it as a significant venue within the local market. With 310,000 annual visits and 270 employees, it is also a notable employer and contributor to regional tax revenues.

The 50% tax on slot machine gross gaming revenue represents a substantial fiscal burden relative to table games, which are exempt from this tax. For bidders, the balance between slot and table operations can therefore influence overall profitability under the existing tax framework.

The requirement to maintain at least 30 traditional tables ensures that table gaming remains a core component of the casino’s offering. Combined with minimum space related fees, this creates a defined baseline for operational scale.

Our Assessment

The opening of the Brussels casino concession tender marks the start of a competitive process that will determine the operator of a 14,000 square meter property until the end of 2041. The concession combines defined operational requirements, including minimum gaming tables and space related fees, with a tax structure that heavily affects slot machine revenue. With an estimated value of €750 million and a stated objective to increase annual gaming related tax income by €20 million, the outcome of the tender will shape both the city’s fiscal receipts and the future structure of one of Belgium’s key land based casino operations.

BoscaSports Acquires 2DB – Irish Technology Group Expands Streaming and Data Capabilities Across 12 Countries

Key Takeaways

Acquisition Brings Together Retail Display and Streaming Technologies

Irish technology company BoscaSports has finalized the acquisition of 2DB, a UK-based provider of integrated video streaming and retail software solutions. The transaction is supported by Allied Irish Bank and Racecourse Media Group, which holds a minority stake in BoscaSports.

The deal combines BoscaSports’ expertise in live betting information and digital displays with 2DB’s technology stack focused on video streaming and data integration. Together, the companies aim to provide end to end digital display and streaming services for Licensed Betting Offices and racecourses.

Before the acquisition, BoscaSports supplied live betting information and digital displays to all 86 racecourses in the UK and Ireland. With 2DB’s integration, the enlarged group expands both its technological capabilities and operational scale in the retail betting and racecourse display sectors.

Geographical Expansion to 12 International Markets

The acquisition extends BoscaSports’ geographical footprint beyond the UK and Ireland. The combined entity now operates across 12 countries, including Italy, Morocco, Sri Lanka, the UAE, Malta, and Cyprus.

This broader reach reflects an expansion into markets where racecourses and betting operators require integrated streaming and display solutions. For operators and venues, this means a single provider can now deliver combined video, data, and retail display services across multiple jurisdictions.

BoscaSports currently delivers digital solutions to more than 7,000 screens across the UK, Ireland, Europe, and the Caribbean. The addition of 2DB’s infrastructure is intended to strengthen service delivery across these regions and support further international contracts.

Client Portfolio Includes Major Betting Operators

Following the transaction, the combined group serves a portfolio of established betting and racing stakeholders. Clients include Flutter, which operates Paddy Power, as well as William Hill, Entain, BoyleSports, and the UK Tote.

These relationships place the enlarged company within the supply chain of several major retail and racing focused operators. For industry participants, integrated streaming and data solutions are central to delivering live content and betting information across physical betting shops and racecourses.

Racecourse Media Group, which provided additional capital investment as part of the deal, stated through its CEO Nick Mills that the investment is designed to support long term solutions for the racing industry’s digital ecosystem. RMG’s involvement connects the transaction to the broader media and rights environment surrounding racecourse content distribution.

Revenue Growth Preceded the Acquisition

The acquisition follows a period of reported growth for BoscaSports. Over the past 12 months, the company recorded a 40 percent increase in revenue. According to the company, this growth was driven by new contracts with international racing organizations.

Recent agreements include partnerships with Ascot Racecourse, the Abu Dhabi Turf Club, and SOREC in Morocco. These contracts indicate that BoscaSports had already been expanding its international presence before the 2DB transaction.

The financing structure for the acquisition includes a loan facility provided by Allied Irish Bank and additional investment from Racecourse Media Group. Pat Horgan, Head of Business Banking, Capital Markets at AIB, stated that the bank supports Irish technology companies as they scale internationally, highlighting the role of domestic financing in enabling overseas expansion.

Management Statements Outline Strategic Rationale

Eugene Mitchell, CEO of BoscaSports, described the acquisition as transformational for the company. He stated that combining BoscaSports’ capabilities with 2DB’s integrated video streaming and data solutions enhances the overall technology stack, distribution reach, and service offering to racecourses, operators, and bettors.

Steve Boffo, Managing Director of 2DB Ltd, characterized the deal as a cultural and strategic match, emphasizing readiness to integrate teams and continue serving customers.

The stated focus of the unified company is to provide comprehensive digital display and streaming services tailored to Licensed Betting Offices and racecourses internationally. By aligning software, streaming, and retail display systems under one structure, the group aims to streamline service delivery across multiple markets.

Implications for Retail Betting and Racecourse Operations

The consolidation of BoscaSports and 2DB centers on infrastructure that supports live betting environments. Retail betting shops and racecourses rely on synchronized video feeds, betting data, and digital displays to operate efficiently.

With operations now spanning 12 countries and a client base that includes several large operators, the combined company strengthens its position as a technology supplier within the racing and retail betting ecosystem. For operators evaluating technology providers, the transaction signals a move toward integrated service models that combine streaming, data, and display management under one provider.

Our Assessment

BoscaSports’ acquisition of 2DB expands its technological capabilities, international footprint, and client coverage within the retail betting and racecourse sectors. Supported by financing from Allied Irish Bank and investment from Racecourse Media Group, the combined company now operates in 12 countries and serves major industry stakeholders. The transaction follows reported revenue growth and new international contracts, positioning the enlarged group as a provider of integrated digital display and streaming services across multiple regulated betting markets.

IGSA Adds AXES.ai to Emerging Technologies Committee – Standards Work Expands to AI, Stablecoins and Cybersecurity

Key Takeaways

IGSA Expands Emerging Technologies Committee with AXES.ai Membership

The International Gaming Standards Association has added AXES.ai to its Emerging Technologies Committee, a group tasked with addressing frameworks tied to new technologies in the gaming sector. The move integrates AXES.ai into ongoing efforts to develop and refine global standards that apply across jurisdictions.

IGSA is a technical standards development organization focused on creating and maintaining protocols for the gaming industry. Its membership includes organizations in 20 countries, with contributions from regulators, operators, and suppliers spanning more than 30 countries. The association states that the committee contributes to the development of protocols and guidance used internationally.

By joining at the committee level, AXES.ai will participate directly in discussions and drafting processes related to emerging technologies that are increasingly relevant for gaming operations and regulatory oversight.

Focus Areas Include AI, Stablecoins, and Cybersecurity

According to IGSA, the Emerging Technologies Committee is advancing work on standards that address artificial intelligence, stablecoins, and cybersecurity in gaming environments. These topics reflect areas where technological change is influencing operational systems and compliance requirements.

Artificial intelligence is being applied in areas such as data analysis and operational optimization. Stablecoins represent a category of digital assets designed to maintain a stable value, raising questions about integration into gaming payment systems and associated controls. Cybersecurity remains a central concern for operators and regulators, particularly as gaming systems increasingly rely on connected infrastructure.

The committee brings together regulators, operators, and suppliers to address these issues collectively. IGSA states that its work is intended to provide clarity and structured guidance as new technologies are adopted across the sector.

Earle G. Hall Appointed Chair of the Committee

As part of AXES.ai’s membership, Earle G. Hall, President and CEO of the company, has been appointed chair of the Emerging Technologies Committee. In a statement, Hall described the appointment as taking place at a pivotal time for the industry, citing the acceleration of technologies such as AI, stablecoins, and cybersecurity.

Hall stated that the committee will work with members, regulators, and operators to bring clarity, guidance, and global standards for responsible innovation. His appointment places AXES.ai in a leadership position within the committee’s activities and discussions.

IGSA President Mark Pace welcomed AXES.ai back to the organization at the committee level and referenced a prior working relationship with Hall, who previously served as IGSA Chairman of the Board. Pace indicated that he expects AXES.ai to contribute insights to the committee’s work on emerging technologies.

AXES.ai Develops Real-Time Casino Information Systems

AXES.ai develops casino information systems designed to replace legacy SMIB-based casino management systems. The company’s platforms are built on IoT and cloud technology and are structured to support real-time operational data and reporting.

By focusing on real-time systems, AXES.ai’s technology aligns with broader industry shifts toward connected infrastructure and data-driven operations. Such systems generate operational data that may intersect with areas covered by IGSA standards, including cybersecurity safeguards and the handling of digital assets.

The company’s return to IGSA at the committee level formalizes its role in discussions that may influence how technological standards are structured and implemented across different jurisdictions.

IGSA’s Role in Cross-Jurisdictional Standards

IGSA describes itself as a technical standards development organization for the gaming industry. Its protocols are used by stakeholders in multiple countries, reflecting the cross-border nature of gaming operations and supply chains.

With organizations in 20 countries and input from more than 30 countries, IGSA’s standards aim to provide consistency in areas where technology and regulation intersect. The Emerging Technologies Committee serves as a forum where stakeholders can address questions linked to new digital tools and infrastructures.

For operators and suppliers active in multiple markets, standardized protocols can influence system design, compliance processes, and integration strategies. For regulators, common frameworks can support oversight in areas such as cybersecurity controls and the use of digital assets within gaming systems.

Our Assessment

IGSA’s addition of AXES.ai to its Emerging Technologies Committee and the appointment of Earle G. Hall as chair expand the association’s work on standards related to AI, stablecoins, and cybersecurity. The committee brings together regulators, operators, and suppliers from multiple countries to develop protocols and guidance used across jurisdictions. AXES.ai’s focus on real-time, IoT- and cloud-based casino systems positions the company to contribute technical input to discussions shaping how emerging technologies are addressed in global gaming standards.

American Bitcoin Surpasses 7,000 BTC in Corporate Reserves – Treasury Expansion Continues After Nasdaq Listing

Key Takeaways

Bitcoin Treasury Exceeds 7,000 BTC

American Bitcoin Corp. has expanded its corporate Bitcoin holdings to more than 7,000 BTC, according to company reporting cited on March 30, 2026. The increase continues the firm’s treasury growth following its Nasdaq listing in September 2025.

The company stated that its total Bitcoin reserves have nearly tripled since launch. It also reported that “satoshis per share” have more than doubled over the same period, indicating that the amount of Bitcoin backing each share has increased as holdings expanded.

With the latest update, ABTC ranks 16th among publicly traded companies holding Bitcoin on their balance sheets, based on data from bitcointreasuries.net. This places the company among a group of firms that use Bitcoin as a treasury reserve asset rather than limiting exposure to operational needs.

Mining Expansion Drives Treasury Growth

ABTC attributes much of its treasury expansion to an aggressive build-out of its mining operations. During the current month, the company purchased more than 11,000 ASIC mining machines to increase its hashrate capacity.

Management outlined plans to scale the fleet to approximately 89,000 rigs, targeting around 28 EH/s in computing power. The strategy centers on self-mining Bitcoin at lower operational costs rather than relying primarily on open market purchases.

The company reported a mining margin of 53 percent, indicating that its mining operations remain profitable despite price volatility. At the end of last year, ABTC held 5,401 BTC. Since then, it has increased reserves above 6,000 BTC through a combination of mining output and acquisitions. Roughly one-third of its Bitcoin holdings came from mining activities, with the remainder acquired on the open market.

For users following the Bitcoin mining sector, these figures highlight the scale at which publicly traded firms continue to invest in infrastructure. Mining capacity, measured in rigs and exahashes per second, directly influences the amount of Bitcoin a company can generate internally.

Fourth Quarter Results Reflect Bitcoin Price Decline

The company’s recent financial results show the impact of Bitcoin market volatility on its balance sheet. In the fourth quarter, a 23 percent decline in Bitcoin’s price led to a $227 million non-cash mark-to-market loss. ABTC also reported a net loss of $59 million for the period.

Quarterly revenue reached $78.3 million, slightly below estimates but higher than the $64.2 million reported in the same quarter a year earlier. For the full year, revenue totaled $185.2 million.

Mark-to-market accounting requires companies holding digital assets to adjust the value of those holdings in line with market prices. When prices fall, firms record unrealized losses even if they do not sell the underlying assets. For investors and market participants, this accounting approach can significantly affect reported earnings during periods of price volatility.

Stock Performance and Liquidity Position

Since its Nasdaq debut in September 2025, ABTC shares have declined by more than 90 percent from peak levels. At the time of writing, the stock traded near $0.90 per share.

The company operates in a competitive environment that includes other publicly traded mining firms. According to the report, peers such as MARA and Riot are diversifying into artificial intelligence infrastructure. Hut 8, which supports American Bitcoin, has expanded credit facilities to $400 million and secured a $200 million revolving line from Two Prime, strengthening available liquidity.

These financing arrangements underline the capital-intensive nature of large-scale mining operations. Access to credit can influence a company’s ability to expand infrastructure, manage operational costs, and withstand price swings in Bitcoin.

Public Policy Commentary from Co-Founder

ABTC co-founder Eric Trump stated earlier this month on X that major U.S. banks, including JPMorgan Chase, Bank of America, and Wells Fargo, are lobbying in Washington to restrict higher-yield crypto and stablecoin products. He referenced legislative efforts such as the CLARITY Act as part of this process.

The statement reflects ongoing debates in the United States about the regulatory framework for digital assets and stablecoins. While the company itself is focused on mining and treasury accumulation, regulatory developments may affect broader market conditions in which Bitcoin-related businesses operate.

Our Assessment

American Bitcoin Corp. has expanded its Bitcoin treasury beyond 7,000 BTC and increased mining capacity through substantial hardware purchases. At the same time, recent financial results show the effects of Bitcoin price volatility on reported earnings, and the company’s share price has declined significantly since its Nasdaq listing. The combination of treasury growth, infrastructure expansion, and market-driven financial fluctuations defines the company’s current position within the publicly traded Bitcoin mining sector.

GLI Receives First International Accreditation in Ukraine – PlayCity Advances Digital Gaming Oversight Reform

Key Takeaways

PlayCity Grants First International Accreditation to GLI

Ukraine’s gaming regulator PlayCity has granted its first international accreditation to Gaming Laboratories International, a US based testing and certification provider. The authorization allows GLI Europe B.V., operating from the Netherlands, to act as both a testing and certification provider and an inspection body within Ukraine’s regulated gaming market.

According to the announcement, GLI Europe B.V. is currently the only foreign entity authorized to perform these dual functions in the country. This accreditation enables GLI to process product certification requests from suppliers seeking entry into Ukraine’s regulated environment.

GLI operates in more than 710 jurisdictions globally. Through its European hub, the company will apply ISO/IEC standards 17025, 17020, and 17065 when assessing gaming equipment and systems for the Ukrainian market. These standards cover testing laboratories, inspection bodies, and product certification processes, and are intended to ensure that both software and hardware comply with local legal requirements.

Regulatory Reset After Dissolution of KRAIL

The accreditation comes after a significant restructuring of Ukraine’s gambling oversight framework. In early 2025, the previous regulator, KRAIL, was dissolved following high profile corruption scandals and allegations of lingering Russian influence.

President Volodymyr Zelenskyy subsequently authorized the creation of PlayCity, a new regulatory body designed to modernize and digitize oversight. PlayCity operates under the Ministry of Digital Transformation and is described as a digital first agency.

The stated objective of the new framework is to move away from paper based supervision toward a real time, data driven regulatory model. By accrediting an internationally active testing laboratory, the Ukrainian authorities are signaling that technical compliance and independent certification will play a central role in the restructured market.

Certification Requirements for Domestic and Foreign Suppliers

Under the updated framework, both domestic and foreign gaming suppliers must obtain a certificate of approval from PlayCity before they can request product certification. This requirement applies to companies providing gaming hardware and software.

GLI will handle product evaluations through GLI Europe B.V., applying the relevant ISO/IEC standards to areas such as random number generators and physical slot cabinets. The process is designed to ensure that gaming products meet Ukrainian legal and technical standards before they are deployed in the market.

James Boje, Managing Director for EMEIA at GLI, stated that the company will bring its global testing expertise to PlayCity and to suppliers seeking access to the Ukrainian market. The accreditation formalizes GLI’s role in supporting compliance checks for regulated operators and suppliers.

For operators and platform providers, certification by an accredited laboratory is a prerequisite for offering approved products. For international suppliers evaluating market entry, the presence of a recognized testing body may clarify procedural requirements and technical benchmarks.

State Online Monitoring System and Digital Oversight

The accreditation coincides with the rollout of Ukraine’s State Online Monitoring System, referred to as SOM. This framework is intended to provide the government with real time visibility into operator systems.

According to the information provided, SOM tracks player activity, fund transfers, and winnings through application programming interfaces. The system is designed to reduce the shadow segment of the market and to support fair taxation.

Alongside technical oversight, Ukraine has introduced legislative updates that revise the industry’s tax structure. The new model moves toward a flat 18% tax on gross gaming revenue. Combined with the implementation of SOM and the accreditation of international laboratories, the changes represent a coordinated restructuring of supervision, certification, and fiscal policy within the sector.

For operators, this means integration with monitoring infrastructure and compliance with updated tax rules. For suppliers, it requires alignment with certification standards verified by accredited bodies such as GLI.

Implications for the Regulated Market Environment

The decision to accredit GLI positions Ukraine within a framework that references internationally recognized testing standards. GLI has recently secured similar first of their kind accreditations in other jurisdictions, including the UK and the Philippines, according to the information provided.

In the Ukrainian context, the move indicates that the government is prioritizing structured certification and inspection processes as part of its regulatory overhaul. For players, this means that gaming software and hardware in the regulated market will be subject to laboratory testing under ISO/IEC standards before approval.

For international operators and suppliers assessing regulatory risk, the combination of centralized digital monitoring, formal laboratory accreditation, and a defined tax rate outlines the core parameters of Ukraine’s current gaming framework.

Our Assessment

Ukraine’s accreditation of GLI as its first international testing and inspection body marks a concrete step in the transition from KRAIL to the newly established PlayCity regulator. The authorization formalizes technical certification procedures under ISO/IEC standards and aligns them with the rollout of the State Online Monitoring System and a revised 18% gross gaming revenue tax model. Together, these measures define the operational, technical, and fiscal structure of Ukraine’s restructured gaming market.

Aave Launches on OKX X Layer – DeFi Lending Protocol Expands to 21st Blockchain

Key Takeaways

Aave Goes Live on OKX’s X Layer

Aave, the largest decentralized lending protocol by total value locked, is now available on X Layer, an Ethereum layer-2 blockchain launched by crypto trading platform OKX. The integration enables users of OKX Wallet and X Layer to access Aave’s lending and borrowing services directly on the network.

With this move, X Layer becomes the 21st blockchain to support Aave. The protocol reports $23.5 billion in total value locked, reflecting the amount of crypto assets deposited into its smart contracts. Users can deposit assets to earn interest or borrow against collateral posted on the platform.

For X Layer, the integration represents a notable addition to its decentralized finance ecosystem. The network currently holds $25 million in total value locked, significantly smaller than Aave’s footprint across all supported chains.

What the Integration Means for X Layer Users

The addition of Aave allows users on X Layer to lend, borrow, and earn yield without bridging assets to another blockchain. In practice, this reduces the need for cross-chain transfers when accessing DeFi lending services.

According to an OKX spokesperson, the integration expands the functionality of the network’s DeFi ecosystem and is intended to serve the full range of customers active on X Layer. For users already operating within OKX’s wallet environment, the availability of Aave may streamline access to decentralized lending tools.

X Layer launched in May 2024 in what Cointelegraph described as a highly crowded Ethereum layer-2 market. Like many competing layer-2 solutions, X Layer focuses on scalability. The network advertises average transaction costs of $0.0005 and block times of approximately one second.

In addition to Aave, other decentralized finance protocols available on X Layer include Uniswap for decentralized token swaps, Chainlink for oracle services, and Stargate for cross-chain money transfers. The addition of a major lending protocol complements these existing services by adding borrowing and yield generation to the network’s offering.

Aave’s Position in the DeFi Lending Market

The launch on X Layer follows a milestone for Aave. In late February, the protocol surpassed $1 trillion in cumulative lending volume, marking what Cointelegraph described as an industry first. Cumulative lending volume refers to the total value of loans processed through the platform since its inception.

Aave currently holds $23.5 billion in total value locked. The platform reports over $40.4 billion in net deposits, compared to $10 billion for its closest competitor, Morpho. Based on the figures cited, Aave’s total value locked is more than three times that of Morpho in the decentralized lending market.

Revenue data over the past 30 days also indicates a gap between the two platforms. Aave has taken in more than $6.2 million in revenue during that period, which is more than five times the amount reported for Morpho.

Aave is integrated across more than 20 blockchains, including Ethereum, Arbitrum, and Base. The addition of X Layer further extends its cross-chain presence and increases the number of environments where users can access its lending and borrowing functionality.

Context for Crypto and iGaming Users

For crypto users who interact with betting platforms, sportsbooks, or online casinos that support digital assets, developments in decentralized finance can affect liquidity conditions and yield opportunities. Lending protocols such as Aave allow users to earn interest on idle crypto holdings or access liquidity without selling their assets.

Layer-2 networks aim to offer lower transaction fees and faster processing times compared to base-layer blockchains. X Layer advertises transaction costs of $0.0005 on average and one-second block times. For users moving funds between wallets, exchanges, or DeFi applications, these parameters can influence cost calculations and transaction efficiency.

Because Aave is now accessible directly on X Layer, users operating within the OKX ecosystem can manage lending positions without transferring assets to another supported chain. This may simplify portfolio management for those already active on the network.

Our Assessment

The launch of Aave on OKX’s X Layer adds one of the largest decentralized lending protocols to a relatively small layer-2 network with $25 million in total value locked. For Aave, the move expands its presence to a 21st blockchain following a milestone of $1 trillion in cumulative lending volume and $23.5 billion in total value locked. For X Layer, the integration introduces established lending and borrowing infrastructure to its existing DeFi stack, which already includes decentralized exchange, oracle, and cross-chain transfer services. The development reflects continued cross-chain expansion within the decentralized finance sector based on the figures provided.

Walmart-Backed OnePay Expands Crypto Listings – Fintech App Targets New-to-Crypto Users With Broader Token Selection

Key Takeaways

OnePay Broadens Its Crypto Offering Beyond Bitcoin and Ethereum

OnePay, a fintech company majority-owned by Walmart, has expanded its cryptocurrency offering by listing more than a dozen additional digital assets. The move comes just months after the company launched its crypto platform in January with support for Bitcoin and Ethereum.

According to statements from Ron Rojany, OnePay’s general manager for Core App and Crypto, the latest additions include SUI, Polygon and Arbitrum. These listings follow another recent batch of 10 tokens, among them Solana, Cardano, Bitcoin Cash and PAX Gold.

The expansion significantly increases the number of digital assets available within the OnePay app. While the company has not disclosed specific user numbers or trading volumes, it describes engagement as strong, particularly among customers who are new to cryptocurrency and seeking an integrated entry point.

Selection Criteria Focus on Demand, Liquidity and Regulatory Clarity

OnePay states that it applies defined criteria when deciding which tokens to list. According to Rojany, the company prioritizes assets that meet what he describes as a high bar in four areas: customer demand, liquidity, regulatory clarity and long-term utility.

This approach suggests that the company aims to balance user interest with operational and compliance considerations. Rather than adding newly launched or trending assets, OnePay says it is curating a set of tokens that align with how its customers use and manage their money.

The emphasis on regulatory clarity is notable in the context of US digital asset oversight. While OnePay did not provide details on its compliance framework, its stated focus indicates that legal considerations play a role in listing decisions.

Superapp Strategy Integrates Banking, Payments and Crypto

OnePay positions itself as a US-based superapp, modeled in concept on China’s WeChat. The company aims to combine multiple financial services within a single mobile platform.

Beyond crypto trading, the app offers traditional financial products, including high-yield savings accounts, debit and credit cards, loans and wireless plans. It also provides a digital wallet that customers can use for payments at Walmart stores and through Walmart’s online platform.

Walmart’s US operations reported net sales of 462.4 billion dollars in fiscal 2025, according to the company’s most recent annual report. The retail scale of Walmart’s operations provides distribution potential for financial services integrated into the broader shopping ecosystem.

By adding crypto functionality to an existing financial app, OnePay is not launching a standalone exchange. Instead, it embeds digital asset access within a broader banking and payments environment.

Growing Interest in Multi-Service Financial Platforms

OnePay is not the only company pursuing a multi-service financial model that includes digital assets. In September, Coinbase CEO Brian Armstrong outlined plans to develop a crypto-focused superapp offering services such as credit cards, payments and Bitcoin rewards.

Similarly, Japan’s Startale Group announced earlier this month that it would use funds from a 50 million dollar Series A round to build a superapp integrating payments, asset management and onchain services into one platform.

Regulatory developments in the United States may also influence this trend. US Securities and Exchange Commission Chairman Paul Atkins expressed support in September for platforms operating under a unified regulatory framework that could allow trading, lending and staking of digital assets within a single structure. In July, he directed Commission staff to develop further guidance and proposals to advance what he described as a superapp vision.

While OnePay has not publicly detailed how its crypto services align with potential future regulatory frameworks, the broader policy discussion indicates that integrated digital asset platforms are under active consideration by regulators.

Relevance for Users Evaluating Crypto-Enabled Financial Apps

For users comparing crypto-enabled financial services, OnePay’s expansion increases the range of assets accessible within a single retail-linked application. The inclusion of networks such as Polygon, Arbitrum and Solana introduces exposure to multiple blockchain ecosystems beyond Bitcoin and Ethereum.

The addition of assets like PAX Gold also extends the offering to tokenized products linked to physical commodities. At the same time, the company emphasizes that it is curating its listings rather than aiming for maximum token count.

Because OnePay integrates crypto into a broader payments and banking environment, users access digital assets alongside traditional financial tools. This structure differs from platforms focused exclusively on trading and may appeal to individuals seeking consolidated account management.

Our Assessment

OnePay has expanded its crypto platform from an initial Bitcoin and Ethereum offering to include more than a dozen additional tokens, citing demand, liquidity, regulatory clarity and long-term utility as selection criteria. The move forms part of a broader strategy to position the app as a US superapp combining banking, payments and digital assets. Within a competitive environment where other firms are also developing integrated financial platforms, OnePay’s expansion increases the scope of crypto assets available to its customer base while maintaining a stated focus on curated listings.