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Circle, the issuer of USD Coin (USDC), has launched a new blockchain-based compliance platform. The move aims to strengthen its position in the stablecoin market, to jab its rival Tether (issuer of USDT) and to claim leading role inthe world of tokenized real world assets (RWA). The new platform is called Compliance Engine. It offers tools for transaction screening and monitoring. CEO Jeremy Allaire announced the launch on September 24. He said it will help companies "build onchain while meeting rigorous demands for compliance". The platform includes services for Know Your Customer (KYC) requirements. It also addresses the United States' Travel Rule. Allaire highlighted Circle's experience in this area. "We've built up tremendous capabilities over the past decade," he said. Compliance Engine adds to Circle's existing Web3 developer tools. These include a programmable wallet and smart contract platform: all tools center around USDC, Circle's core stablecoin product. Initially, the platform will operate on several blockchain networks. These include Avalanche, Ethereum, Polygon PoS, and Solana. The launch is Circle's latest effort to boost USDC adoption. USDC is competing for market dominance against Tether's USDT. USDC's market cap is about $36 billion, which is significantly less than USDT's $119 billion. FDUSD from Hong Kong is gaining strength, too. PayPal's stablecoin, PYUSD, has added to the competition. Launched in 2023, it reached a $1 billion market cap in August. Compliance is crucial for Circle. As of now, USDC is already more attractive to many users than USDT because of how 'clean' and compliant Circle is compared to Tether. But there is more to it. The company stands to benefit from the adoption of tokenized real-world assets (RWAs), and these include tokenized investment funds. RWAs could become a multi-trillion dollar market in the near future. Popular tokenized RWAs include those representing claims on off-chain money market funds, for instance, funds that pay low-risk yield on US dollars. They often accept payments in USDC. Two major players in this space are BlackRock and Franklin Templeton. Their funds, BUIDL and FOBXX, have assets under management of $520 million and $430 million respectively. The market of financial RWAs is potentially vast, and Circle is making a bold claim to be a significant player there.

Circle, the stablecoin issuer, is teaming up with Sony Block Solutions. The goal? Make USDC the go-to token on Sony's Soneium blockchain. This move brings bridged USDC to Soneium. It's a big deal for creators and users looking for safe, borderless transactions. What's bridged USDC? It's USDC moved from one blockchain to another. Usually, it starts on Ethereum. The original USDC gets locked up, and an equivalent amount is minted on the new chain. Circle announced the partnership on Monday. They're pretty stoked about it. "This marks a significant milestone," they tweeted. It's all about "setting the stage for a new era of creativity in the Web3 space." Jun Watanabe, the big cheese at Sony Block Solutions Labs, chimed in. He's pumped too. "This collaboration aligns ideally with our vision," he said. It's not just about tech. It's about "delivering tangible benefits to Soneium and users worldwide." The timing's interesting. Sony's blockchain subsidiary just launched the "Minato" testnet for Soneium. Talk about striking while the iron's hot. So, what's Soneium all about? It's Sony's shot at shaking up entertainment with blockchain. We're talking digital rights management, NFTs for fans, the whole nine yards. Developers can build dApps using Sony's tech. It's opening doors for decentralized services tied to Sony products. Pretty nifty, right? But hold your horses. The mainnet isn't launching until 2025. No specific date yet. For now, Soneium's still in test mode. This USDC integration could be a game-changer. It's setting up Soneium to be a player in the global decentralized economy. Only time will tell if it lives up to the hype.

Stablecoins are having a moment. Their market cap hit $164 billion in July. That's the highest since April 2022. It's a 2.1% bump from June. Circle's USDC is the star of the show. Its trading volume on centralized exchanges reached a whopping $135 billion by July 25. That's a 48% jump. Not too shabby. USDC's market cap also rose 5.4% to $33.6 billion. What's behind this surge? Two things: market inflows and new EU rules. On July 1, the EU's Markets in Crypto-Assets (MiCA) framework kicked in. Circle was quick off the mark. They became the first stablecoin issuer to get the regulatory green light in Europe. Tether, the big dog in the stablecoin world, grew too. But slower. Its market cap hit $114 billion, up 1.6% in July. That's 11 months of growth in a row. Pretty solid. Tether's still top dog, though. DefiLlama says it's got nearly 70% of the stablecoin market. And get this – Tether reported record profits of $5.2 billion in the first half of 2024. Not too shabby. But it's not all rosy. Trading volume on centralized exchanges dropped 8.4% to $795 billion by July 25. That's the fourth month in a row it's gone down. Bit of a bummer. The new EU rules are shaking things up. Some crypto exchanges in Europe delisted stablecoins before the June 30 deadline. Talk about a last-minute scramble. The new rules are pretty strict. Stablecoin issuers need to be based in the EU. They've got to notify authorities and submit a white paper for approval. Big stablecoins face even tougher rules. Tether's CEO, Paolo Ardoino, isn't thrilled. He said in May, "Very few banks accept this type of business in Europe. It's already very difficult to get just one!" Sounds like a headache.

Circle has introduced its euro-backed stablecoin, EURC, on the Base network. This move expands EURC's native availability beyond Avalanche, Ethereum, Solana, and Stellar. It's a first for Base. EURC is now accessible on an Ethereum layer-2 network in native form. Previously, layer-2s only used derivative EURC backed by versions on other networks. Circle claims this new version will boost global e-commerce. The company stated, "The Base versions of EURC and USDC are the first stablecoins on Base from a global issuer to be compliant with the new Markets in Crypto-Assets (MiCA) regulation." This development could be a game-changer. It may allow Base users to swap euros for dollars more easily. A 2023 study found blockchain forex trades can cut costs by up to 80%. However, there's a catch. Major decentralized exchanges on Base haven't listed EURC yet. Searches on Aerodrome, Uniswap, and BaseSwap came up empty at the time of writing. PancakeSwap offers EURC trading through its "import" feature. But it comes with a strong warning to users. Circle provided the official token address for EURC on Base mainnet: 0x60a3e35cc302bfa44cb288bc5a4f316fdb1adb42. This launch follows Bitstamp's recent delisting of Tether Euro (EURT). The exchange cited EURT's alleged non-compliance with MiCA regulations. EURC's expansion to Base could shake things up in the stablecoin market. It potentially offers users more options for euro-dollar trades on layer-2 networks. As the dust settles, it remains to be seen how quickly major exchanges will adopt EURC on Base. The move could pave the way for more efficient forex trading in the crypto space.

Opera's mobile browser, Opera Mini, is upgrading its cryptocurrency wallet MiniPay to include two of the world's most popular stablecoins - Tether's USDT and Circle's USDC. Users can switch between USD Coin and cUSD with minimal fees. The process uses a simple drag-and-drop motion. Jørgen Arnesen, Opera's executive vice president of Mobile, explained the feature. "It abstracts assets swapping in Web3," he said. "Users can effortlessly swap between all 3 stablecoins." Just to remind you, MiniPay was launched in September 2023 inside Opera Mini browser and run on the Celo blockchain. It uses Mento's cUSD, pegged to the US dollar. A kind of an own stablecoin, to be precise. The wallet initially targeted African markets. Opera said from the beginning that the browser wallet aimed to facilitate stablecoin transfers using mobile numbers. Arnesen discussed the rationale behind this focus. "We recognized the significant potential of blockchain-enabled peer-to-peer solutions within the continent," he stated. He noted common concerns among consumers. These included high fees, unreliable services, and lack of transparency in local payment options. All of that is supposed to be overcome by Opera's wallet built in the popular browser. MiniPay has also launched a Discover Page for decentralized applications (DApps). It organizes native DApps, providing direct access to various tools. Since its launch, MiniPay has seen rapid growth. It has over three million wallet activations across several African countries. Arnesen highlighted Africa's potential for digital asset adoption. He cited its young population and widespread smartphone use. Opera Mini is the most downloaded mobile browser in Africa. It boasts nearly 100 million users.