Breez Adds Bitcoin-to-Stablecoin Payments – Developers Can Route BTC to USDC and USDT Across 30+ Blockchains

Key Takeaways

Breez Expands SDK to Enable Bitcoin-Funded Stablecoin Transfers

Bitcoin infrastructure company Breez has added a new capability to its developer toolkit that allows users to send USDC and USDT directly from a Bitcoin balance. The feature supports transfers across more than 30 blockchain networks and removes the need for users to first convert their Bitcoin into stablecoins or maintain separate token balances.

According to the company, the system operates through the Lightning Network, Bitcoin’s layer-2 payment protocol designed to enable faster and lower-cost transactions. When a user enters a recipient’s wallet address, the Breez software development kit identifies the destination blockchain, calculates a conversion route, and displays the relevant amount, network, and fees before confirmation.

Once the payment is approved, the transaction is routed through liquidity providers including Flashnet and Boltz. These providers convert the sender’s Bitcoin into USDC or USDT and deliver the funds on the recipient’s chosen blockchain. The recipient receives stablecoins on their preferred network, while the sender continues to hold Bitcoin until the moment the transaction is executed.

Interoperability Without Stablecoins on Lightning

Breez CEO Roy Sheinfeld stated that the feature does not require USDC or USDT to be issued directly on the Lightning Network. Instead, the system relies on interoperability between Bitcoin and supported blockchain networks.

This approach allows users to spend from a Bitcoin balance while recipients obtain stablecoins on external chains. The structure is designed to simplify the payment experience for developers and end users by reducing the need to manage multiple wallets or blockchain integrations.

The company describes the feature as non-custodial. Users retain control over their Bitcoin until they initiate a transaction. At launch, the functionality is limited to outbound payments in stablecoins. Breez indicated that support for receiving stablecoins from other blockchains into a Bitcoin-based environment is planned for a later update.

Developer-Focused Integration Across Multiple Blockchains

The new feature is embedded in Breez’s SDK, targeting developers who want to integrate stablecoin payments into their applications without building direct connections to numerous blockchain networks.

By abstracting the routing and conversion process, the SDK aims to handle blockchain detection, exchange calculation, and liquidity sourcing automatically. This reduces the need for separate Bitcoin and stablecoin infrastructure within a single application.

For platforms that serve international users, including services where customers prefer stablecoin settlement but hold Bitcoin, the integration can streamline payment flows. Developers can offer payouts or transfers in USDC or USDT while users fund transactions from BTC balances.

Broader Expansion of Lightning-Based Payment Infrastructure

The announcement comes amid continued development of Bitcoin and Lightning Network infrastructure for a range of financial use cases.

In February, institutional trading and lending desk Secure Digital Markets completed a 1 million US dollar Bitcoin payment to Kraken over the Lightning Network in less than half a second. The transaction demonstrated the protocol’s potential for high-value transfers, beyond small retail payments.

Also in February, Bitcoin infrastructure company Voltage introduced a US dollar-settled revolving credit line embedded into Lightning payment flows. The product allows businesses to settle repayments in either US dollars or Bitcoin and is structured to provide working capital access without requiring companies to hold crypto assets on their balance sheets.

In another development, event platform Satlantis launched a Bitcoin-native ticketing system with integrated Lightning wallets. The platform enables event organizers to sell tickets and accept Bitcoin alongside traditional payment methods.

Additionally, Tether-backed startup Ark Labs raised 5.2 million US dollars in March to develop technology supporting stablecoin issuance, transfers, and settlement on Bitcoin.

According to a February report from River, Lightning Network transaction volume surpassed 1 billion US dollars per month in late 2025. The report noted that this figure had increased significantly from approximately 12 million US dollars in 2021, indicating sustained growth in network activity.

Implications for Cross-Chain Payments and Stablecoin Use

The ability to fund stablecoin transfers directly from Bitcoin balances addresses a practical gap between Bitcoin liquidity and stablecoin-based settlement. Many applications and platforms use USDC or USDT for pricing and payouts, while users may primarily hold BTC.

By automating conversion at the point of transaction, Breez’s integration removes the requirement for users to manually exchange assets before making a payment. It also shifts the complexity of routing and liquidity management to backend infrastructure providers.

For users who rely on stablecoins for predictable value settlement across different blockchain ecosystems, the feature expands the ways in which Bitcoin can be used in cross-chain transactions.

Our Assessment

Breez’s new SDK feature introduces a mechanism for sending USDC and USDT across more than 30 blockchains directly from Bitcoin balances, using the Lightning Network and third-party liquidity providers. The system is non-custodial and currently supports outbound payments only. The launch aligns with broader growth in Lightning-based financial infrastructure, including institutional transfers, credit products, and stablecoin-related development on Bitcoin. For developers, the integration reduces the need to manage separate blockchain connections and token balances within payment-enabled applications.

Entain Sells 20 Percent Stake in Entain CEE to EMMA Capital – Proceeds to Reduce Debt and Shift Control

Key Takeaways

Entain Begins Exit From Central and Eastern Europe

Entain has initiated its planned withdrawal from Central and Eastern Europe with the sale of a 20 percent stake in Entain CEE to investment firm EMMA Capital. The transaction is valued at 425 million euros, equivalent to 366 million pounds.

The company will receive 395 million euros when the transaction closes. A further payment is scheduled for early 2027 and will depend on Entain CEE’s performance in the 2026 financial year. Entain stated that total proceeds from the sale will reach 425 million euros.

Chief executive Stella David described the divestment as the first step towards a full exit from the joint venture. According to the company, the move reflects its strategy of simplifying its brand portfolio, reducing leverage, and focusing on core regulated markets.

Ownership Structure Shifts to EMMA Capital

Once the transaction is completed, Entain’s stake in Entain CEE will decrease from 67.5 percent to 47.5 percent. EMMA Capital will increase its holding from 22.5 percent to 42.5 percent.

The Juroszek family will retain its 10 percent shareholding. However, it will assign its voting rights to EMMA Capital. As a result, EMMA Capital will obtain majority control of the joint venture.

Entain CEE was established in 2022 and includes the SuperSport brand in Croatia and STS in Poland. According to Entain, both brands hold number one positions in their respective markets.

For the 2025 financial year, Entain CEE generated net gaming revenue of 522 million pounds, representing a 7 percent year on year increase. EBITDA reached 184 million pounds, also up 7 percent compared to the previous year.

Impact on Financial Reporting and Margins

Following the sale, Entain CEE will no longer be fully consolidated in Entain’s group accounts. This accounting change has a direct impact on the company’s margin guidance.

Entain now expects its FY26 online EBITDA margin to be between 21 percent and 22 percent. This compares to earlier guidance of 23 percent to 24 percent when Entain CEE was included in the group figures.

The company maintained its forecast for FY26 online net gaming revenue growth at between 5 percent and 7 percent. Additional details are expected to be provided with the publication of interim results on 13 August 2026.

According to Entain, the sale is broadly neutral to earnings per share and adjusted cashflow. The company also stated that proceeds from a later full exit from Entain CEE should help bring reported leverage below three times. Any surplus capital following that process would be returned to shareholders.

Debt Reduction and Interest Cost Savings

Entain plans to use the net proceeds from the transaction to reduce debt. The company estimates that this will lower annual interest costs by around 20 million pounds.

Debt reduction has been a stated priority for the group over the past year. Alongside portfolio simplification, the company has focused on lowering leverage and strengthening its balance sheet.

Entain’s shares remain down around 24 percent year to date, despite a partial recovery over the past month. The company has not linked the share price movement directly to the transaction but has emphasized its intention to improve financial metrics and cash generation.

Relevance for International iGaming Markets

The transaction changes the ownership and control structure of two major brands in Central and Eastern Europe: SuperSport in Croatia and STS in Poland. Both brands operate in regulated markets and have reported revenue and EBITDA growth for FY25.

For users and industry observers, the shift means that EMMA Capital will assume majority control of Entain CEE, while Entain reduces its exposure to the region. Entain will continue to hold a 47.5 percent stake after completion, but without majority control.

The removal of Entain CEE from full consolidation also alters how the group’s performance will be reflected in future financial statements. This affects reported margins and may influence how investors assess the company’s online profitability.

Our Assessment

The sale of a 20 percent stake in Entain CEE for 425 million euros marks the first formal step in Entain’s planned exit from Central and Eastern Europe. The transaction reduces Entain’s ownership to 47.5 percent and transfers majority control to EMMA Capital through an increased stake and assigned voting rights. Proceeds will be used to reduce debt, with expected annual interest savings of about 20 million pounds. The deal also changes Entain’s financial reporting structure and lowers its FY26 online EBITDA margin guidance due to the deconsolidation of Entain CEE.

AscendEX Faces Withdrawal Complaints – Blockchain Data and Investigator Claims Raise Liquidity Questions

Key Takeaways

Users Report Stalled Withdrawals on AscendEX

Several users have reported difficulties withdrawing funds from cryptocurrency exchange AscendEX. Complaints surfaced publicly after an X account under the name Lorenzo Navarro Rodriguez stated that a withdrawal of 4,196 USDT had remained in an “initiating” state since June 10. According to the post, repeated attempts to contact customer support did not result in a resolution.

At least five additional users responded to the same thread in the following days, describing similar experiences with delayed withdrawals. The reports center on transactions that appear to have been submitted but not completed, raising questions about processing times and internal liquidity management.

For users who actively trade or move digital assets between platforms, withdrawal functionality is a core operational feature. Delays can affect trading strategies, arbitrage opportunities and risk management decisions, especially for those holding stablecoins such as USDT.

ZachXBT Flags Potential Liquidity Issues

The situation drew further attention after blockchain investigator ZachXBT commented on the matter via Telegram. In a Friday post, he stated that AscendEX appeared to lack significant reserves of major cryptocurrencies, including Ether (ETH), USDT and Solana (SOL).

According to ZachXBT, the exchange’s hot wallets showed limited liquidity in these widely traded assets. He urged AscendEX to clarify the status of its reserves and address the reports of delayed withdrawals.

Cryptocurrency exchanges typically maintain liquid reserves of large-cap assets to meet customer withdrawal requests. If reserves are insufficient, withdrawals can be delayed. In more severe cases, liquidity shortages can escalate into solvency concerns. ZachXBT’s comments focused specifically on the composition and apparent availability of AscendEX’s onchain holdings.

At the time of publication, AscendEX had not issued a public response to the allegations or the user complaints.

Blockchain Data Shows Concentration in Smaller-Cap Tokens

Data from blockchain analytics platform Arkham, viewed on Friday, indicated that wallets tagged as belonging to AscendEX held approximately $20.2 million in crypto assets.

The majority of these holdings were concentrated in smaller-cap tokens rather than in large-cap cryptocurrencies. The largest single holding was $10 million in UNITE tokens. This was followed by $5.24 million worth of REUR, $2.9 million in ASD and about $600,000 in Reservoir rUSD stablecoins, alongside other smaller token balances.

In contrast, holdings of major cryptocurrencies such as ETH, USDT and SOL were described as relatively limited. This asset distribution formed the basis of ZachXBT’s liquidity concerns.

For exchange users, the composition of reserves matters because widely traded assets with deep liquidity are generally used to process routine withdrawals. A reserve structure weighted toward smaller-cap tokens may require conversions before withdrawals in major assets can be completed, depending on internal liquidity arrangements.

Liquidity Sensitivity in the Post-FTX Environment

Questions about exchange liquidity remain particularly sensitive in the cryptocurrency sector following the collapse of FTX in 2022. In that case, a surge in customer withdrawal requests exposed a multibillion-dollar shortfall, ultimately leading to bankruptcy proceedings.

The FTX failure triggered widespread withdrawals across the industry and intensified regulatory scrutiny of centralized exchanges. In response, many platforms began publishing proof-of-reserves reports in an effort to provide greater transparency regarding asset backing.

Within this broader context, public scrutiny of exchange wallet balances and hot wallet liquidity has become more common. Blockchain data tools allow independent analysts and users to monitor tagged wallets in near real time. However, onchain balances alone may not reflect the full financial position of an exchange, as internal accounting structures and offchain liabilities are not directly visible on public ledgers.

In the case of AscendEX, the current concerns are centered on observable wallet balances and reported user experiences with withdrawals. No formal insolvency proceedings or regulatory actions have been reported in connection with the exchange as of the publication date.

Implications for Active Crypto Users

For traders and users who rely on centralized exchanges to move capital between platforms, timely withdrawals are essential. Delays can limit flexibility, particularly for those using stablecoins such as USDT as a bridge between exchanges, trading venues or crypto-based services.

Liquidity questions can also influence user behavior. When concerns arise, some users may choose to reduce balances held on a platform until clarity is provided. Others may monitor onchain data more closely before depositing additional funds.

AscendEX’s response, or lack thereof, may therefore play a central role in determining how the situation develops. Clear communication regarding reserve structure and withdrawal processing would address the specific issues raised by users and by ZachXBT.

Our Assessment

Multiple AscendEX users have publicly reported delayed withdrawals, and blockchain investigator ZachXBT has questioned the exchange’s large-cap asset reserves based on observed wallet data. Arkham-tagged wallets show holdings of approximately $20.2 million, primarily in smaller-cap tokens, with comparatively limited balances in major cryptocurrencies. AscendEX has not issued a public response at the time of publication. The situation centers on reported withdrawal delays and the composition of onchain reserves, both of which are critical factors for exchange users managing digital assets.

Hyperliquid Added to Singapore Investor Alert List – MAS Flags Unlicensed Status

Key Takeaways

MAS Places Hyperliquid on Its Investor Alert List

Singapore’s central bank and financial regulator, the Monetary Authority of Singapore, has added decentralized perpetuals exchange Hyperliquid to its Investor Alert List. The entry includes both the Hyper Foundation website and the Hyperliquid trading application.

The Investor Alert List is described by MAS as a consumer protection measure. It identifies entities that may be wrongly perceived as being licensed or regulated by the authority. Inclusion on the list does not amount to a ban, nor does it represent an enforcement action.

For users, the list serves as a public signal that a platform does not hold a license issued by MAS. This distinction is relevant in Singapore’s regulated financial environment, where licensing determines which entities may legally provide certain financial services.

What the Investor Alert List Means for Users

According to MAS, the purpose of the Investor Alert List is to reduce the risk of confusion among consumers. Companies placed on the list may appear to operate in Singapore without holding authorization from the regulator.

Being listed does not automatically prohibit access to the platform. It also does not necessarily imply wrongdoing. Instead, the list functions as a transparency tool that allows consumers to verify whether a company is regulated by MAS before engaging with its services.

For crypto traders and users of decentralized exchanges, the distinction between licensed and unlicensed platforms can influence decisions about counterparty risk, regulatory protection, and potential access restrictions. The listing clarifies that Hyperliquid does not operate under a MAS license.

Hyperliquid Responds to MAS Listing

Hyperliquid stated that it has never claimed to be licensed or authorized by the Monetary Authority of Singapore. The platform also said that nothing about its permissionless infrastructure has changed following the regulator’s action.

In a post published on X, Hyperliquid said the ecosystem remains committed to engaging collaboratively and constructively with regulators and institutions globally. The statement also referenced support for clear and well designed frameworks for onchain finance.

The response indicates that the company views the listing as a clarification of regulatory status rather than a change to its operating model.

Hyperliquid’s Market Position in Decentralized Trading

According to CoinGecko data cited in the source material, Hyperliquid ranks as the ninth largest decentralized exchange by trading volume. Separate data from DefiLlama estimates that the platform holds approximately 5.7 billion dollars in total value locked.

Total value locked is commonly used to measure the amount of assets deposited in decentralized finance protocols. Trading volume and value locked provide indicators of a platform’s scale and user activity within the broader decentralized finance ecosystem.

Hyperliquid operates as a decentralized perpetuals exchange. Perpetuals are derivatives contracts that allow traders to speculate on price movements without a fixed expiration date. Such products are often associated with higher risk due to leverage and volatility.

Singapore’s Broader Crypto Oversight Framework

Singapore has tightened oversight of the cryptocurrency sector in recent years. In May 2025, MAS ordered crypto companies serving overseas customers to either obtain licenses or cease operations. The authority stated that this directive reflected a long standing regulatory position rather than a shift in approach.

The move addressed what MAS described as a regulatory loophole. Some crypto firms based in Singapore had avoided licensing requirements by serving only overseas customers. MAS said it had consistently communicated its position since 2022 and was ending a transition period for firms that continued operating without a license.

The regulator also said that the measures were intended to strengthen consumer protection and align Singapore’s crypto framework with international standards on Anti Money Laundering and Countering the Financing of Terrorism.

Hyperliquid is not the only crypto exchange to appear on the Investor Alert List. MAS added Bybit on June 17. KuCoin and Bitget also appear on the list.

Implications for International Crypto and iGaming Users

For international users, including those active in crypto based betting and trading environments, regulatory listings can affect how platforms are perceived across jurisdictions. While decentralized exchanges typically operate without centralized intermediaries, regulatory authorities may still issue public notices to clarify licensing status within their territories.

If you use crypto platforms that also intersect with leveraged trading or high volume transactions, awareness of licensing status can form part of your due diligence. The MAS listing makes clear that Hyperliquid is not licensed in Singapore, even though the platform itself states it has not claimed such authorization.

Regulatory developments in major financial hubs such as Singapore often influence compliance strategies and operational structures across the crypto sector. Public listings and licensing directives can therefore shape how platforms position themselves internationally.

Our Assessment

The addition of Hyperliquid to the Monetary Authority of Singapore’s Investor Alert List formally clarifies that the platform is not licensed by MAS. The listing does not constitute a ban or enforcement action but serves as a consumer protection measure. The development takes place within a broader context of tightened crypto oversight in Singapore, including licensing requirements for firms serving overseas customers and measures aimed at strengthening Anti Money Laundering and Countering the Financing of Terrorism standards.

XRP Trades Near $1 as Exchange Reserves Decline and Whale Accumulation Continues

Key Takeaways

XRP Price Approaches the $1 Threshold

XRP is trading slightly above $1, marking its weakest price level of the year. On June 25, the token touched $1.01, bringing it close to a daily close below $1 for the first time since November 2024. The decline has left XRP down 43% since the start of 2026.

From a technical perspective, the broader market structure on higher time frames remains bearish. Current price levels place XRP near a demand zone between $1 and $0.63. This range corresponds to an unfilled price gap formed during a sharp rally in late 2024. Market participants often monitor such gaps as potential areas of increased buying activity if prices revisit them.

While price action has weakened, blockchain data presents a different set of indicators related to supply distribution and investor behavior.

Exchange Reserves Decline Across Major Platforms

Data cited from CryptoQuant shows that XRP balances held on major exchanges have decreased in recent weeks. Binance recorded the largest absolute outflow. The exchange’s XRP reserve stood at approximately 2.68 billion tokens on June 25, down from 2.78 billion on May 12. This represents a reduction of roughly 100 million XRP over the period and brings Binance’s balance to its lowest level since March.

Other trading platforms also posted declines, though on a smaller scale. Upbit’s XRP reserves fell from 2.51 billion on May 31 to 2.48 billion on June 25. Bybit’s holdings dropped from 92 million on June 2 to 82 million by June 25. While Binance led in total outflows, Bybit recorded the steepest percentage decrease among the exchanges mentioned.

A decline in exchange-held supply means fewer tokens are immediately available for trading on those platforms. For users of crypto trading and betting services that rely on exchange liquidity, such movements can influence short-term liquidity conditions.

Binance Withdrawal Activity Surpasses Deposits

Transaction-level data from Binance indicates a shift in user behavior. Since June 17, XRP withdrawal transactions have exceeded deposit transactions for seven consecutive days. On June 23, withdrawals accounted for 53.8% of total XRP-related transactions on the exchange, the highest level recorded since June 2024. During the same period, deposits fell to 46.1%, marking their lowest reading since 2024.

This metric tracks the number of transactions rather than the total token volume. It reflects how frequently users move XRP off the exchange compared with sending it to Binance. The current stretch represents the longest withdrawal-led period in roughly one year.

Sustained net withdrawals can indicate that holders are transferring assets to private wallets or other platforms instead of preparing them for immediate sale on centralized exchanges.

Whale Flows Show Continued Net Accumulation

Large XRP holders, often referred to as whales, have maintained positive net flows over the quarter. According to the 90-day moving average cited, whale flows have remained positive at approximately 5.143 million XRP per day.

Positive whale flow indicates that large wallets are, on balance, accumulating more XRP than they are distributing. This pattern has persisted throughout the quarter, even as the token’s market price declined.

Whale activity is frequently monitored because large holders can influence market liquidity and sentiment. Consistent accumulation by these wallets contrasts with the downward price movement observed in 2026.

Spot XRP ETFs Record $243 Million in Inflows Since April

Institutional demand has also been reflected in spot XRP exchange-traded funds. On June 24, these products recorded $2 million in net inflows, bringing total net inflows for June to $31 million.

Since April, cumulative net inflows into spot XRP ETFs have reached $243 million. These figures indicate continued capital allocation into regulated investment vehicles linked to XRP during a period of declining spot prices.

ETF flows are often used as a gauge of institutional participation. In this case, inflows have continued despite XRP trading near its lowest levels of the year.

Technical Structure and Long-Term Range

Despite the short-term weakness, some analysts cited in the source material point to XRP’s long-term chart structure. The token has spent multiple years trading within a broad accumulation range characterized by higher lows on weekly and monthly time frames.

Extended consolidation phases can define long-term price ranges where supply and demand repeatedly balance out. XRP’s current position near the lower boundary of its recent yearly range places attention on whether the $1 level holds or whether the price revisits deeper parts of the previously established gap.

For traders and platform users, these levels may influence margin requirements, collateral valuations, and liquidity conditions in products where XRP is used as a base or settlement asset.

Our Assessment

XRP is trading near $1 after a 43% decline in 2026, placing it close to a level not seen since late 2024. At the same time, exchange reserves have decreased, Binance has recorded seven consecutive days of net withdrawal activity, whale flows have remained positive, and spot XRP ETFs have attracted $243 million in inflows since April. The combination of falling exchange supply, sustained whale accumulation, and continued ETF inflows contrasts with the token’s current price weakness and defines the present market structure.

Egypt Prepares Explicit Ban on Online Gambling Apps – Proposed Cybercrime Amendments Would Introduce Clear Criminal Penalties

Key Takeaways

Existing Gambling Laws Leave Online Sector Unspecified

Egyptian law already prohibits gambling for citizens under several legal frameworks. The Civil Code renders gambling contracts void, and the Penal Code criminalises gambling activity. In addition, casino regulations restrict gambling in licensed hotels to foreign passport holders.

However, these provisions primarily address physical gambling venues and do not explicitly regulate online betting. This has created what lawmakers describe as a regulatory gap. While gambling itself is prohibited, online platforms are not directly named in existing statutes.

Despite the formal ban, enforcement has been limited. Some users in Egypt continue to access offshore betting sites by using virtual private networks and foreign payment methods. Lawmakers have also pointed to Arabic language gambling platforms that operate under overseas licences while targeting Egyptian users.

Government Plans Amendments to the Cybercrime Law

Ahmed Badawi, Chair of the House Communications and Information Technology Committee, stated in May that the government is preparing amendments to the Cybercrime Law. According to Badawi, the revised text is expected to explicitly include electronic gambling applications.

The proposed amendments would directly name online betting and introduce stronger penalties. In serious cases involving organised crime or large scale fraud, sentences could reach life imprisonment. The objective, according to public statements by Badawi, is to remove what authorities consider harmful services rather than impose broader internet censorship.

As of late June, the draft amendments have not been formally scheduled for parliamentary debate. Earlier indications suggested that a government text could be submitted after the Islamic holiday of Eid al Adha, but no official timetable has been confirmed.

Enforcement Measures Already Underway

Parallel to the legislative process, Egyptian authorities have expanded technical enforcement efforts. In February, Badawi stated that the National Telecommunications Regulatory Authority and the Supreme Council for Media Regulation were working to block approximately 80% of online betting applications.

These actions are reportedly based on technical assessments prepared with parliamentary input. According to Badawi, platforms that are blocked under the current approach would not be permitted to return under future legislation.

Key enforcement questions remain unresolved. Lawmakers have discussed how to address the use of virtual private networks that allow users to bypass geo blocking measures. Another open issue concerns the legal responsibility of banks and digital payment providers that may process gambling related transactions. No official government text has yet clarified how these aspects would be regulated.

Parliamentary Draft Bill Proposes Tiered Penalties

In addition to the forthcoming government amendments, a separate draft bill provides insight into possible penalty structures. In January 2025, Martha Mahrous, a member of the same parliamentary committee, introduced a proposal that would criminalise electronic betting.

In public comments, Mahrous described online gambling as a growing social risk, particularly for young users, and argued that existing laws are insufficient. Her draft outlines a tiered system of penalties targeting different actors within the online gambling ecosystem.

Under the proposal, agents and intermediaries could face prison sentences ranging from two to five years, along with fines between EGP 1 million and EGP 5 million, equivalent to approximately USD 20,100. Payment facilitators could face up to six months in prison and smaller fines. Platform operators or sponsors could face two to five years in prison and fines of up to EGP 10 million, or about USD 202,000.

Badawi has stated that the government is preparing its own version of amendments rather than directly adopting Mahrous’ draft. Nevertheless, both initiatives are viewed as part of a coordinated policy direction aimed at closing the regulatory gap around online betting.

Some draft discussions have also raised the possibility of penalties for users who access banned platforms. However, no official government proposal has confirmed whether individual users would be subject to criminal sanctions.

Implications for Offshore Operators and Payment Channels

If enacted in line with current proposals, the new framework would mark a shift from loosely enforced prohibitions to a structured legal regime that directly targets online gambling activity. Operators based abroad but offering Arabic language services to Egyptian users could face heightened scrutiny.

Financial intermediaries may also be affected if the amendments clarify liability for processing gambling related payments. The combination of technical blocking measures and explicit criminal provisions would expand the legal tools available to authorities.

For users, the potential introduction of explicit penalties, combined with stronger enforcement against platforms and payment channels, would change the current risk landscape surrounding access to offshore betting services.

Our Assessment

Egypt is moving toward explicitly criminalising online gambling through amendments to its Cybercrime Law. Existing legislation already bans gambling for citizens but does not directly address online platforms. Proposed changes would introduce defined penalties for operators, intermediaries, and possibly payment facilitators, while enforcement efforts to block betting applications are already underway. The amendments have not yet entered formal parliamentary debate, and details regarding user liability and payment provider responsibility remain unresolved in official texts.

SBI Holdings to Acquire Bitbank for $288.6 Million – Deal Creates Japan’s Largest Regulated Crypto Exchange Group

Key Takeaways

Transaction Structure and Timeline

SBI Holdings signed agreements on June 24 to acquire all shares of Bitbank in a transaction valued at 46.7 billion yen, or approximately $288.6 million. The acquisition will be carried out through SBICAH GK, an investment arm of SBI Group. Once completed, Bitbank will operate as a wholly owned subsidiary.

The deal is structured in two phases. In the first step, SBI will acquire shares held by Bitbank’s founders and individual shareholders. This phase is scheduled for August 2026. In the second step, Bitbank will buy out shares currently held by corporate investors MIXI and Ceres. That stage is expected to be finalized by the end of October 2026.

The transaction remains subject to clearance from the Japan Fair Trade Commission and other standard closing conditions. Both companies have indicated that completion is expected around October 2026, assuming regulatory approval is granted.

Creation of Japan’s Largest Regulated Crypto Exchange Group

Following completion, the combined operations of SBI and Bitbank are expected to form the largest regulated crypto exchange group in Japan by trading volume. The group will integrate Bitbank with SBI VC Trade, SBI’s existing crypto exchange unit.

According to the announcement, the merged operation will account for an estimated 2.92 million crypto asset accounts. Assets under custody are projected to total approximately 1.1 trillion yen, equivalent to about $6.8 billion. On this basis, the enlarged group would surpass domestic competitors such as bitFlyer and Coincheck in trading volume.

The acquisition is described as the largest consolidation move in Japan’s regulated crypto market to date. For market participants, this signals a continued trend toward concentration among licensed operators.

SBI’s Ongoing Consolidation Strategy

The Bitbank acquisition follows a series of consolidation steps by SBI in Japan’s digital asset sector. In April 2026, SBI VC Trade absorbed Bitpoint Japan. With the addition of Bitbank, SBI further expands its footprint in exchange operations and custody services.

Bitbank has operated in Japan’s regulated crypto market for more than a decade. According to the company, it has recorded zero hacking incidents since launch. Its integration into SBI’s broader financial group brings together an established exchange brand with a large financial services conglomerate.

Bitbank CEO Noriyuki Hirosue is among the shareholders selling their stakes as part of the transaction. The deal marks the exit of a founder who built the exchange over more than ten years.

Regulatory Environment and Industry Changes

The acquisition takes place during a period of potential regulatory change in Japan’s crypto sector. Japanese authorities are examining whether digital assets should be brought under the Financial Instruments and Exchange Act. A reclassification could take effect as early as fiscal 2027.

If implemented, such a change would subject crypto exchange operators to stricter compliance requirements. In that context, scale and capital resources become increasingly relevant for exchange operators. The consolidation of platforms under larger groups may influence how the market adapts to tighter regulatory standards.

The pending review by the Japan Fair Trade Commission will determine whether the transaction can proceed as planned. Regulatory clearance is therefore a key remaining step before the merger is finalized.

Expansion Beyond Exchange Trading

The acquisition of Bitbank forms part of a broader expansion of SBI’s crypto related activities. On the same day the deal was announced, SBI launched JPYSC, described as Japan’s first trust bank backed yen stablecoin.

The group also introduced a Visa branded rewards card that converts spending into Bitcoin and other cryptocurrencies through SBI VC Trade. In addition, SBI completed a co launch of Ripple’s RLUSD dollar stablecoin in Japan.

These initiatives indicate that SBI’s crypto strategy extends beyond spot trading. The group is building exposure across exchange services, custody, stablecoins, and crypto linked payments. By integrating Bitbank, SBI increases its scale within this broader ecosystem.

Impact on Bitbank Users

Bitbank informed its customers that the acquisition will not affect existing services. Users can continue trading and using the platform during the ownership transfer. No operational disruptions have been announced in connection with the transition.

For account holders, the immediate structure of services remains unchanged. The key development is at the ownership and corporate level rather than in day to day trading conditions.

Our Assessment

SBI Holdings’ agreement to acquire Bitbank for 46.7 billion yen represents the largest consolidation in Japan’s regulated crypto exchange market so far. Once completed, the transaction will combine nearly 3 million accounts and approximately 1.1 trillion yen in assets under custody under a single group. The deal remains subject to regulatory approval and is expected to close around October 2026. In parallel, SBI continues to expand into stablecoins and crypto linked payment products, positioning the enlarged group across multiple segments of Japan’s digital asset sector.

US Credit Unions Managing $25B Join Stablecoin Infrastructure Pilot – Early-Access Program Expands Digital Asset Testing in Regulated Banking Sector

Key Takeaways

Stablecore Launches Early-Access Program for Credit Unions

Stablecore, a digital asset infrastructure provider for financial institutions, has introduced an early-access program aimed at US credit unions. The initiative is designed to allow smaller lenders to evaluate stablecoins and blockchain-based financial services before deciding on broader integration into their operations.

The program was announced in collaboration with Circuit, a credit union service organization focused on research and development, and Curql, a fintech investment collective representing more than 160 credit unions. Through this structure, participating institutions can test digital asset services within a controlled framework.

According to the announcement, credit unions managing roughly $25 billion in combined assets are eligible to explore the program’s features. The pilot provides hands-on access to stablecoin and digital asset tools rather than requiring immediate full-scale implementation.

Scope of Services: Stablecoin Payments, Bitcoin and Tokenized Deposits

The early-access initiative enables participating credit unions to test several digital asset services. These include stablecoin payment capabilities, tokenized deposits, Bitcoin support, crypto on- and off-ramps, and staking functionalities.

The testing phase allows institutions to evaluate how these services could operate within their existing banking infrastructure. Credit unions can assess technical integration, operational processes and internal compliance considerations before making decisions about permanent adoption.

Stablecore’s broader strategy focuses on integrating stablecoin and tokenized asset services directly into existing core banking systems. In February, the company joined the Jack Henry Fintech Integration Network. This network is operated by Jack Henry, a core banking technology provider serving approximately 1,670 bank and credit union core clients. Through this integration, Stablecore gains access to a large segment of financial institutions already connected to Jack Henry’s infrastructure.

Regulatory Developments: NCUA Proposes Stablecoin Licensing Framework

The launch of the pilot program comes amid evolving regulatory discussions around stablecoins within the US credit union system.

In February, the National Credit Union Administration, the federal regulator overseeing federally insured credit unions, proposed a licensing framework for payment stablecoin issuers operating through credit union subsidiaries. Under the proposal, any payment stablecoin issuer working through such a subsidiary would need to obtain an NCUA license before issuing stablecoins.

The proposal outlines a licensing process and supervisory framework. Additional rulemaking concerning reserve requirements, capital standards, liquidity management and risk controls is expected to follow at a later stage. The proposed rules were open for public comment through April 13.

This regulatory initiative signals that stablecoin activity within credit unions is moving into a more formal supervisory structure. The Stablecore pilot therefore aligns with a period in which federally insured institutions are preparing for clearer compliance expectations around digital asset issuance and services.

Credit Unions as a Growing Segment of the US Financial System

Credit unions remain a significant component of the US financial system. There are more than 4,200 federally insured institutions nationwide. While the total number of credit unions has declined over time, both membership and total assets have continued to grow.

As of the first quarter of 2026, total financial assets held by US credit unions reflect ongoing consolidation combined with asset expansion. The participation of institutions managing approximately $25 billion in assets in this stablecoin pilot indicates that digital asset experimentation is not limited to large commercial banks.

For financial service users, including those active in crypto payments or digital asset markets, credit union participation in stablecoin infrastructure testing may affect how digital payment options become available within regulated banking channels. The ability of credit unions to test on- and off-ramps and Bitcoin services within established banking frameworks may influence access points between traditional finance and crypto markets.

Our Assessment

The early-access program launched by Stablecore, in collaboration with Circuit and Curql, provides US credit unions managing approximately $25 billion in assets with a structured environment to test stablecoin payments, tokenized deposits, Bitcoin services and staking. The initiative follows regulatory steps by the NCUA to establish a licensing framework for payment stablecoin issuers operating through credit union subsidiaries. Together, these developments indicate that federally insured credit unions are moving toward formal evaluation and potential integration of stablecoin and digital asset services within existing banking systems.