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Circle's euro stablecoin EURC circulation surpasses 400 million euros, becoming an important component of Europe's on-chain payment infrastructure

Circle officially announced that its euro stablecoin EURC has surpassed a circulation of 400 million euros, becoming an important growth node in the on-chain financial ecosystem of the Eurozone. Circle stated that the supply of EURC has increased by over 100% in the past year, as the demand for compliant stablecoins has risen from trading platforms, payment networks, and institutional businesses, moving EURC from the experimental phase to practical application. EURC was first launched on Ethereum in June 2022 and has since expanded to multiple blockchains including Avalanche, Stellar, Solana, and Base.As of the end of 2024, EURC has covered five chains, with a circulation scale of approximately 80 million euros, and continues to grow. Currently, EURC has been launched on several mainstream trading platforms such as Bitpanda, Bitstamp, Bybit, Coinbase, and Kraken, supporting EURC/EUR and EURC/USD trading pairs, further enhancing on-chain liquidity for euros. Circle stated that the application scenarios for EURC are expanding from trading to payments, settlements, and institutional fund management. Currently, fiat withdrawal and recharge service providers such as Mercuryo, MoonPay, Ramp, and Transak have supported users to directly access digital assets using euros, and institutional custody and settlement platforms such as Cobo, Copper, and Fireblocks have also integrated EURC.In addition, both Visa and Mastercard have previously expanded their support for EURC's settlement capabilities, making it available for cross-border payments, card payment settlements, and enterprise-level fund circulation scenarios. With the full implementation of the EU's Markets in Crypto-Assets Regulation (MiCA), EURC operates under the electronic money token (EMT) standard, issued by Circle's French electronic money institution and regulated by the French Prudential Supervision and Resolution Authority (ACPR). The reserve assets of EURC are completely isolated from Circle's corporate funds and are regularly audited and confirmed by independent third parties.As of January 2026, the total supply of global stablecoins is approximately 300 billion dollars. Although dollar stablecoins still dominate, euro stablecoins have become the second largest category. The market size of euro stablecoins has grown from about 400 million euros in June 2025 to about 650 million euros in June 2026, with EURC maintaining a leading position. Circle stated that despite the growth of EURC, euro stablecoins are still in the early stages compared to the M2 money supply of over 16 trillion euros in the Eurozone, and there is still significant room for growth in real-time settlements, cross-border payments, and enterprise financial infrastructure in the future.

HSBC requires some existing investment clients in the mainland to submit a source of funds declaration; failure to submit in a timely manner may result in service termination

According to the Daily Economic News, following the requirement to confirm that the source of funds for new account openings comes from legal overseas channels, some banks in Hong Kong have begun to initiate a source of funds declaration process for certain existing mainland investment clients. HSBC Hong Kong has recently started notifying some existing mainland investment clients, requiring them to submit the "Declaration for Opening/Maintaining Accounts" through the HSBC Hong Kong App by September 12 and to update their contact information.The declaration includes confirming that the funds for investment activities come from legal sources outside mainland China, and that the bank may disclose personal information at the request of law enforcement or regulatory agencies. The notice also mentioned that if the declaration is not submitted by August 20, investment-related services may be suspended; if it is still not submitted by September 12, investment-related services may be terminated.An HSBC spokesperson responded that they will follow relevant regulatory requirements when managing investment client relationships, thus inviting relevant mainland Chinese investors to provide self-declarations and confirm that the information provided in their "Know Your Customer" and "Customer Due Diligence" processes is current and valid, which helps to continuously provide uninterrupted services to clients. HSBC emphasized that this latest declaration requirement applies only to investment service clients.

first_img Airwallex founder: Stablecoins will develop within the regulatory frameworks of various countries

Cross-border payment company Airwallex co-founder and CEO Jack Zhang stated that stablecoins are becoming an important channel for global capital flow, but sovereign financial systems still determine how to incorporate them, rather than the other way around. As the adoption of stablecoins grows, this trend will intensify. The Central Bank of Brazil has included virtual asset services in its foreign exchange and international capital regulatory framework, Vietnam is working on building a regulated crypto market while banning crypto assets as a means of payment, and the Philippines has indefinitely extended the suspension of virtual asset service provider licenses, all indicating that the adoption of stablecoins will occur within the regulatory frameworks of various countries.He noted that technology is making business more globalized, while financial sovereignty is becoming more localized, and governments will continue to set their own rules for currency, data, identity, and payments. The most enduring stablecoin infrastructure needs to connect sovereign financial systems, provide deep liquidity, and offer reliable conversion between stablecoins and fiat currencies for businesses. Airwallex, with a focus on corporate accounts, has obtained a central bank payment institution license in Brazil and acquired MexPago, the holder of the IFPE license in Mexico, to access the local financial systems of major economies in Latin America. It bets that AI and stablecoins will drive more global business, making regulated local connections more valuable.

first_img 10x Research: Bitcoin's $63,000 as the boundary between the bottom and the crash

The research institution 10x Research published that Bitcoin's current price of about $63,000 is a critical level that will determine whether market sentiment trends towards a bottom or a collapse. Bitcoin had been fluctuating narrowly around $60,000 for six months before the 2024 U.S. election, and this level also served as the top construction area of the 2021 cycle. After Trump's victory confirmation, Bitcoin quickly rose from $70,000 to $90,000, briefly falling below $90,000 during the tariff impact in April 2025, but due to most holders still being in profit, the trading during this pullback was light.10x Research stated that due to the very low turnover in the $70,000 to $90,000 range, it warned in November 2025 that if it fell below $93,000, Bitcoin could experience a sharp decline, as there was almost no supply to slow the decline from that range down to around $65,000, and the subsequent downward trend confirmed this judgment. Currently, Bitcoin is once again consolidating in the $60,000 area for about six months, but during this period, the actual distribution of turnover chips has significantly changed, which has a substantial impact on the next movement of this position. The institution will further elaborate on the importance of this level, the role of exchange balances, and the timing of leveraged traders possibly returning to the market.
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