Stablecoin

Ripple and SBI have launched Ripple USD (RLUSD) in Japan following regulatory approval, giving institutional and retail users access via SBI’s VCTRADE crypto exchange platform. The U.S. dollar-backed stablecoin is categorized in Japan as an electronic payment instrument under the Payment Services Act. RLUSD has reached a $1.7 billion market capitalization.

Coinbase’s layer-2 network Base suffered an outage of about two hours on Thursday after an invalid block triggered a consensus failure that halted all transactions on the chain. The disruption began at 16:03 UTC, when Base’s status page flagged mainnet block production as “unhealthy.” Base later said operations were restored, user funds remained secure, and a full post-mortem would follow.

A consortium of five SBI-affiliated companies has launched JPYSC, described as Japan’s first trust-based stablecoin pegged to the yen. The group includes SBI Holdings, SBI Shinsei Bank, SBI Shinsei Trust Bank, SBI VC Trade and Singapore-based Startale Group. The stablecoin is issued by SBI Shinsei Trust Bank and distributed by SBI VC Trade, according to SBI’s announcement.

A sweeping cryptocurrency bill is facing a narrowing path to passage as the Senate’s calendar fills up. Pressure is building for the chamber to take up the measure next month, but competing priorities could squeeze out floor time.

Solstice said it will launch aiUSX, a yield-bearing asset designed to let companies help finance AI infrastructure using capital they already earmark for AI spending. TensorX and Solstice announced a partnership to finance European sovereign AI infrastructure. The two companies said they will work together to create a facility with up to $1 billion in capacity.

OKX Europe says more than 2,700 crypto firms may be forced to exit the European Economic Area by July 1, 2026 as the EU’s MiCA framework reshapes the market. It said providers that lack authorization after that date will have to stop operating across the EEA. OKX Europe estimates that only about 210 companies have obtained full MiCA approval, compared with more than 3,000 firms previously active in Europe.

SBI Holdings has agreed to acquire all shares of cryptocurrency exchange Bitbank in a ¥46.7 billion ($289 million) deal. The transaction would create Japan’s largest crypto exchange operator by assets under custody. The acquisition will be carried out through SBICAH, a wholly owned SBI subsidiary.

Kraken and Maple Finance have launched an onchain warehouse lending facility that routes USDC from Maple’s lender base to Kraken’s over-the-counter borrowers. The structure adapts the framework used in traditional asset-backed securities to crypto lending for the first time. Maple will provide senior financing through a special purpose vehicle.

Kraken and Maple have launched an on-chain warehouse financing facility aimed at bringing traditional structured-credit protections to crypto-backed lending. The facility will be denominated in USDC and is intended to support Kraken’s over-the-counter lending business. It is designed to let institutional clients borrow against BTC and ETH rather than selling their holdings.

Indonesia’s parliament has passed a revised crypto law that places the Financial Services Authority (OJK) in full charge of crypto oversight as Europe’s MiCA transitional window ends on July 1. The two moves tighten licensing and compliance expectations in two major jurisdictions at the same time. Together, they raise the risk that platforms failing to meet new requirements could lose access to key markets.