Revolut explores launching stablecoin amid growing institutional interest
AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
Daily top performer — Sei Network (SEI)
The S&P 500 is up 0.5% for the week, holding modest gains despite Fed caution and rising geopolitical tensions. Gold hovers near $3,350 support as easing Middle East tensions weaken safe-haven demand. Key levels: $3,318 below, $3,377 above. The short-term outlook remains neutral. The Coindesk Indices, which tracks the broader crypto market, fell 0.37%, with Bitcoin up 0.44% and Ether down 0.88%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.
Today’s top performer is SEI, up 9.7% after Sei Network was selected as a candidate for WYST, the first U.S. state-issued stablecoin.
Sei Network (SEI), launched on August 16, 2023, is an Ethereum-based Layer 1 blockchain designed for high-speed trading, featuring parallelization and automatic order bundling to enable rapid finality and support massive user activity. Sei Network has been selected as a candidate blockchain for WYST, the first fiat-backed stablecoin issued by a U.S. state. The stablecoin will be deployed via LayerZero, with details available on the Wyoming Stable Token Commission's site.
Check out the latest prices, charts, and data of SEIUSDT perp and SEI/USDT spot contracts!
Talk of the town
Revolut is exploring the launch of its own stablecoin, engaging with at least one crypto-native firm as it expands its crypto offerings. The move aligns with a broader trend of major firms entering the stablecoin space amid favorable U.S. legislation like the GENIUS Act. With 55 million users and a $48B valuation, Revolut joins other financial giants eyeing stablecoins to reduce payment costs, speed up settlements, and earn yield on reserves.
Bitcoin spot ETF flows
Category | Flow (millions) |
GBTC | - |
Non-GBTC | - |
Total | 0.0 |
Yesterday, BTC spot ETFs saw zero net flows, with no activity from either GBTC or non-GBTC funds. The pause was due to the U.S. market closure for the Juneteenth holiday.
Check out the latest prices, charts, and data of BTCUSDT perp and BTC/USDT spot contracts!
Airdrop to watch
Blum's airdrop allocation checker is now live on Telegram. Users can check their $BLUM eligibility, with 30% claimable on launch day and the rest vesting daily over 180 days. Unclaimed tokens will be burned. Total supply is 1B, with estimated listing price between $0.30–$0.50. Claim date is yet to be announced.