Industry Reports

Mizuho points out that after Mastercard's acquisition of stablecoin infrastructure company BVNK, it is expected to become a "network connector" between crypto assets and fiat currency, accelerating the expansion of the payment ecosystem. Stablecoins will drive B2B cross-border payments and fund flows. Mizuho maintains its "outperform" rating with a price target of 666 dollars, believing this move will fill the gap where traditional bank card penetration is insufficient.

_RBA shifts toward tokenization rollout, seeing $24B gains as stablecoins and bank tokens take distinct market roles._ Tokenization is gaining traction in Australia, and the Reserve Bank says the debate is changing. In a Wednesday speech, Assistant Governor Brad Jones described Project Acacia, a tr

Obex is deploying $1 billion to link Sky's USDS stablecoin with income from tangible assets, moving beyond crypto yields. The initiative includes partnerships to tokenize real-world assets, aiming for stable returns and broader investment access, while expanding the tokenized asset market's rapid growth.

The Solana Foundation aims to establish its network as essential for a new "agentic" internet driven by AI, focusing on payments and machine-to-machine commerce. This shift could transform internet monetization and user interactions with crypto, emphasizing Solana's advantages in programmatic payments.

Ethereum is proactively addressing potential quantum computing threats by launching a resource hub for post-quantum security. The Ethereum Foundation aims to enhance security through extensive coordination and engineering across all protocol layers, ensuring resilience against future quantum attacks.

FTX's bankruptcy liquidation created a new type of asset trading, where hedge funds achieve stable high returns by purchasing locked tokens at a discount and shorting them in the futures market, while retail investors become liquidity providers, leading to poor cryptocurrency market performance from 2023-2025. Bitcoin benefits from structural advantages due to its transparent supply and absence of locked tokens.

Gate News bot message, data shows centralized exchange listings have reached approximately 5.35K in the current cycle, compared to roughly 5.25K in the previous cycle. The current figure was achieved in 700 days, half the time of the previous cycle's 1,444 days. Spot trading volumes on CEXs have dec

Gate News reports that on March 25, Nasdaq-listed company CIMG released its first quarter 2026 financial report. The financial statement shows that as of December 31, 2025, the company holds 730 Bitcoin, with a book value of $63,978,821. In terms of revenue, CIMG achieved total revenue of $15,768,796 in the three months ending December 31, 2025, compared to $22,853 in the same period of the previous year.

A report from Visa and Dune indicates that non-USD stablecoins are accelerating in payments and settlements, with supply reaching $1.1 billion and transfer volumes skyrocketing to $10 billion. These are primarily used for cross-border payments and enterprise settlements, driving the stablecoin market toward a multi-currency structure.

VISA and Dune joint report shows that non-USD stablecoins have experienced significant growth in practical applications such as cross-border payments and remittances. In February 2023, non-USD stablecoin supply reached $1.1 billion, with transfer volume increasing over 1600%, and the number of holders exceeding 1.2 million users.

Securitize has been designated as the digital transfer agent for the New York Stock Exchange, responsible for minting native on-chain securities. The two parties will collaborate on developing digital transfer agent projects to advance on-chain settlement of tokenized securities and industry standard setting, enhancing institutional-grade tokenized securities infrastructure.

_Ripple pilots RLUSD in Singapore MAS sandbox, automating trade finance with XRPL smart contracts and BNY Mellon-backed custody._ Ripple is testing the RLUSD stablecoin in Singapore bank sandbox for trade payments, marking a new step in enterprise blockchain use.  The pilot focuses on improving

Bloomberg analyst Eric Balchunas stated that Bitcoin spot ETFs saw net inflows of $2.5 billion this month, with BlackRock's IBIT product turning positive in net inflows, demonstrating strong ETF capital resilience. Despite a 40% decline in Bitcoin's price, investors' willingness to hold remains significantly higher than that of gold investors a decade ago.

Gate News reported that on March 25, venture capital firm Kleiner Perkins announced it has raised $3.5 billion to support artificial intelligence market investments. The fundraising includes $1 billion raised by its KP22 fund, along with $2.5 billion for investing in growth-stage companies. Kleiner Perkins stated that current market fundamentals are favorable for expanding investment scale, market development is still in its early stage, and artificial intelligence is helping today's startups iterate and develop at an unprecedented pace.

Ant Group engineer Chen Cheng reverse-engineered Claude Code 2.1.81 source code, revealing its Auto Mode decision-making mechanism. This mechanism employs a four-layer decision pipeline to determine tool invocations, only calling an independent AI classifier for security review when the first three layers cannot make a determination. The classifier design focuses on risk monitoring, featuring a circuit breaker mechanism and behavior prompt injection frequency controls.

Tether engages a Big Four firm for its first full audit, reviewing its $184 billion USDT reserves, aiming to enhance transparency and financial reporting amid internal leadership changes. The audit covers digital and traditional assets, indicating a commitment to stringent scrutiny.

Lido's 2025 annual report shows that amid APR compression, capital outflows, and intensifying competition, its total revenue declined 18.2% year-over-year. Its ETH staking market share stands at 24.12%. The report also mentioned leadership adjustments and plans to focus in 2026 on scaling the stETH product line, building the validator market, and aligning LDO incentives.

Bitcoin Depot announced a leadership transition with former CEO Scott Buchanan and founder Brandon Mintz stepping down, replaced by Alex Holmes. This personnel change is related to regulatory issues the company is facing, with core business revenue expected to decline 30% to 40%. The market reacted clearly to the news with a sharp stock price decline. Analysts believe Holmes's experience may improve the company's situation, but revenue will remain affected in the short term.

Balancer Labs, the parent company of decentralized exchange Balancer, has announced its closure due to substantial losses from a hacker attack last year. Nevertheless, the Balancer protocol will continue to be operated by Balancer DAO and the foundation, generating revenue. The core team will be integrated into a new entity, BAL token issuance will cease, and all fees will be used to repurchase existing tokens, providing investors with a fair exit opportunity. The DeFi sector is currently undergoing restructuring, and the next 12 months will be a critical test for industry recovery.

The Korea Financial Services Commission report shows that in the second half of 2025, cryptocurrency asset flows to overseas platforms and self-custody wallets are projected to reach $60 billion, with a 14% increase. Despite growth in local exchange users and deposits, operating profits have declined significantly, primarily due to price volatility affecting market trading volume and profitability.