Money that works around the clock has an audience waiting for it. Visa found nearly half of Asia Pacific consumers plan to use stablecoins within five years, OKX and the owner of the New York Stock Exchange filed for 24/7 tokenized stock trading, and 11 firms teamed up to spread a euro token across Europe.
- 46% of Asia Pacific consumers expect to use stablecoins within five years, against 16% who used one in the past year.
- Nvidia, Apple and 60+ other US stocks could trade onchain at any hour on a new OKX and ICE venue.
- Eleven companies, eToro and SwissBorg among them, formed a consortium to grow the EURØP euro stablecoin.
- El Salvador’s 7,794 BTC reserve came through the IMF’s latest loan review as $138 million was released.
Demand is building and new venues are opening. With every one of them, the useful question is who issues the asset and who holds it.
46% of Asia Pacific plans to use stablecoins
Source: The Cryptonomist
Visa surveyed 14,250 consumers across 14 Asia Pacific markets in June and July and published the results on October 5. 46% said they expect to use stablecoins within five years, up from the 16% who used one in the past 12 months, and 49% think stablecoins could become a common way to move money across borders.
Awareness is high and understanding is thin: 66% had heard of stablecoins, but only 6% could accurately explain how they work. Vietnam and India showed the strongest intent to use them, at 67% each. Nischint Sanghavi, Visa’s head of digital currencies for Asia Pacific, said stablecoins “could support the ways they already spend and move money.”
Zypto take: The 6% figure is the one to watch. People want a dollar they can move at any hour, and what they need next is a clear picture of what they’re holding: USDC in your own wallet is yours to move, while Circle, its issuer, keeps the ability to freeze it.
For travel, the cash end matters too. USDC to Cash lets you cash out USDC for local currency at participating MoneyGram locations. Download Zypto App.
OKX and ICE file for 24/7 tokenized stocks
Source: The Block
OKX and Intercontinental Exchange, the owner of the New York Stock Exchange, filed a notice with the SEC over the weekend to launch OKXICE, a permissioned onchain venue for tokenized US stocks that trades 24/7. It’s filed under the SEC’s innovation exemption, issued in September for five years.
The launch list covers more than 60 US-listed companies, including Nvidia, Apple, Microsoft, Tesla and JPMorgan Chase, and each gets a 30-day window to opt out. Trading runs on X Layer, the network OKX operates. Former New York governor Andrew Cuomo co-chairs the venture.
Zypto take: Stock markets keep office hours and blockchains run all week, so putting shares onchain is how Wall Street gets a weekend. Access here is permissioned and each token has an issuer behind it, which is the thing to check with any real world asset onchain.
Eleven firms back a euro stablecoin
Source: Schuman Financial
Schuman Financial and ten partners launched the Eurøpe Consortium on October 5 to grow EURØP, a euro e-money token Schuman issues under MiCA as an electronic money institution authorized by France’s ACPR. Members include eToro, SwissBorg, Coinhouse, LCX, DFNS and XRPL Commons.
EURØP runs on Ethereum, Polygon, Avalanche, Solana, the XRP Ledger and Plasma, with reserves held at Société Générale and other named banks. Euro stablecoins make up less than 1% of stablecoin market value, against roughly 99% for dollar tokens.
Zypto take: A euro token becomes useful once the apps people already use carry it, and a consortium of 11 is how a currency with under 1% of the market builds that reach. Six chains is a wide spread, and the Zypto multichain wallet keeps assets across 20+ blockchains in one place. Every EURØP token is issued by Schuman, on Schuman’s terms.
El Salvador’s Bitcoin clears an IMF review
Source: CryptoSlate
The IMF completed the second and third reviews of El Salvador’s $1.4 billion loan program on October 1, releasing $138 million. The country’s reserve of 7,794.37 Bitcoin, worth about $666 million, stays in place.
The Fund granted waivers on performance criteria tied to Bitcoin accumulation and said it expects no further accumulation beyond documented donations. The government is also finishing its exit from running the Chivo wallet, which has passed to a private operator.
Zypto take: A national Bitcoin reserve went through a lender’s review and came out whole. BTC has no issuer to call and no account to close, and you get that same property when you hold it in a wallet you control.
Key Takeaways
- Interest in stablecoins is running well ahead of understanding, and closing that gap is how the 46% turns into everyday use.
- The owner of the New York Stock Exchange wants US stocks trading on a network that never closes.
- The euro is building its onchain presence through distribution, one partner at a time.
- A national Bitcoin reserve held its ground through a loan review, and the asset behind it has no issuer at all.
- As more money moves onchain, the most useful question for any holder is who issues what they hold.
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