Circle, issuer of the USDC stablecoin, has revealed that it will end support for the token on the Tron blockchain. More news below.
Circle, the issuer of the USDC stablecoin pegged to the US dollar, has reported that it will end support for the token on the Tron blockchain. In a blog post on February 20, Circle announced that it will no longer mint USDC on Tron, effective immediately, and will proceed to gradually withdraw support for this blockchain network.
The company indicated that it will provide support for Circle Mint customers’ transfer of USDC to other blockchains until February 2025. Additionally, Circle advised retail users and other customers not affiliated with Circle to transfer their Tron-based USDC to an exchange. or distributor that supports USDC on other blockchains.
Circle emphasizes its commitment to expand USDC’s reach to additional blockchains to deliver the widest access, broadest developer choice, and most secure user experience of any dollar stablecoin in the world.
Hong Kong SFC Receives 18 Crypto License Applications in Two Months
The Hong Kong Securities and Futures Commission (SFC) has seen growing interest in the cryptocurrency space, receiving 18 license applications in just over two months, coming from both local and global actors.
On February 20, Huobi HK, the Hong Kong-based subsidiary of cryptocurrency exchange Huobi, joined the list by applying for a virtual asset trading platform license from the Hong Kong SFC, according to confirmed local sources.
This action joins a total of 18 cryptocurrency exchanges, including notable names such as Crypto.com, OKX, Bybit, and DFX Labs, all of which have filed the same license application since mid-November 2023.
Hong Kong Monetary Authority Establishes Guidelines for Tokenization and Custody of Digital Assets
The Hong Kong Monetary Authority (HKMA) took a significant step by publishing an 11-page note that details its standards for the tokenization and custody of digital assets by locally authorized institutions.
In the document, issued on Tuesday, the HKMA urges these institutions to commit to comprehensive risk assessments, as well as to allocate adequate resources to ensure appropriate governance and risk management in their cryptocurrency custody services.
Alan Au, HKMA’s Executive Director (Banking Conduct) concludes the document by saying that “The HKMA will keep in view the evolving digital asset market and international regulatory landscape, and may provide further guidance as and when necessary.”
CME Group to Launch Micro Bitcoin and Ethereum Futures in Euros to Meet Derivatives Market Demand
CME Group, the world’s largest derivatives exchange based in Chicago, plans to launch euro-denominated micro Bitcoin and Ethereum futures next month, in response to the growing demand in the derivatives market.
The trading firm announced on Tuesday that it will introduce cryptocurrency futures tailored to the European market, capitalizing on the popularity of its US dollar-denominated counterparts. The launch date is scheduled for March 18, subject to regulatory review.
Ripple’s Brad Garlinghouse Advocates an XRP ETF and Predicts Diversification in the Space
In an interview with Bloomberg, Ripple CEO Brad Garlinghouse said the company would “welcome” an exchange-traded fund (ETF) based on the XRP token, stressing that “we would certainly welcome it.” Garlinghouse shared the company’s perspective on the possibility of an XRP ETF on February 20.
The Ripple executive considers the presence of several ETFs for different tokens in the space inevitable. Additionally, he predicted the rise of ETFs on investment portfolios, arguing that they will “diversify risks” for investors, giving them a more balanced option.
By Audy Castaneda
