News linked to both this project and an event.
Arc, the L1 network under Circle, has open-sourced a USDC lending example application built on Borrow Kit. The example covers market discovery, loan sizing, depositing cirBTC as collateral, borrowing USDC, health monitoring, repayment, and liquidation. According to the official announcement, developers do not need to write custom smart contracts or maintain direct integrations with lending protocols.
cryptocurrency exchange OKX has announced the launch of OKX Money, a stablecoin savings and payment app, now available in parts of Latin America, Africa, South Asia, and the Middle East, offering up to 10% annualized yield on eligible USDG balances.Users can fund their accounts with over 50 supported currencies, with funds converted into USD-backed stablecoins, and can hold, send, and spend USDG, USDC, or USDT. The app supports both virtual and physical cards, and eligible USDG balances can earn yield without staking or lock-up requirements.OKX stated that the app will roll out gradually in accordance with regional requirements, with specific legal entities and regulatory frameworks varying by jurisdiction, and the initial launch markets have not yet been disclosed. Yields and eligibility conditions vary by region and user, and users can unlock higher yield tiers by meeting a 30-day average deposit threshold, reaching a 30-day spending amount, or upgrading their exchange VIP level. (Cointelegraph)
Odaily News — According to a recently published guide to European crypto trading platforms, Gate Europe has been named one of the European platforms suited for low-cost spot trading and EUR fiat on-ramp. The platform has obtained MiCA authorization from the Malta Financial Services Authority (MFSA), offers a standard spot trading fee of 0.1%, and supports EUR funding via SEPA bank transfers. In terms of user coverage, Gate Europe can accommodate the trading needs of users ranging from beginners to advanced traders, with strong suitability for spot trading users; in response to European users' asset migration needs, the platform also supports migration from USDT to USDC. BeInCrypto previously included Gate Europe in its guide to MiCA-licensed platforms, and continues to follow its regulatory progress and service capabilities in the European market.Currently, Gate Europe has taken the lead in obtaining the EU's Markets in Crypto-Assets Regulation (MiCA) license and a Payment Institution (PI) license, continuously strengthening its compliance foundation in the European market. Meanwhile, Gate Connect, Gate Card, and related support systems have completed PCI DSS v4.0.1 Level 1 compliance assessment. Against the backdrop of the full implementation of the MiCA regulatory framework and European users' growing attention to legal entities, scope of authorization, and fiat channels, Gate Europe is leveraging its compliance credentials to provide European users with a more comprehensive digital asset trading and fund services experience. (BeInCrypto)
Odaily News: On October 1, the Ethereum Foundation and Open Anonymity Project launched zkAPI on the Ethereum mainnet. The system allows users to pre-deposit ETH, USDC, and other balances, separating billing identity from requests when paying for AI and other usage-based services.After depositing funds, users can authorize payments via zero-knowledge proofs and one-time API keys. Once the server verifies the payment proof, it generates a short-term key with a preset spending cap. AI service providers can receive prompts but will not learn the corresponding payment identity.zkAPI does not hide prompt content, and AI service providers can still read prompts and responses; stable IP addresses, timing patterns, and repetitive behavior may also link user identities. The project's code repository labels zkAPI as an experimental project. (Bitcoin.com News)
Centrifuge has confirmed that three funds — JAAA, JTRSY, and HYB — have launched on Circle's Arc blockchain, offering exposure to AAA-rated collateralized loan obligations (CLOs), short-term U.S. Treasuries, and high-yield corporate bonds, respectively, involving investment strategies under Janus Henderson and New York Life Investment Management. All three funds support subscriptions using USDC on Arc, while direct investment is available only to eligible non-U.S. professional investors. The minimum investment for JAAA and JTRSY is $500,000 each, and for HYB it is 100,000 USDC.
Odaily News: HL HUB (Community) posted on X that Hyperliquid is expected to receive its first AQAv2 reserve yield distribution tomorrow (October 3). Approximately $14.5 million in passive yield generated from USDC reserves will flow into the Assistance Fund for HYPE buybacks.It is reported that under AQAv2's revenue-sharing mechanism, Hyperliquid stablecoin deployers are required to allocate 90% of stablecoin reserve yield to the Hyperliquid protocol, and 100% of these proceeds will be used for buying back and burning HYPE tokens. Stablecoin reserve yield sharing is accumulated and settled on a 30-day cycle, with proceeds automatically transferred to the Assistance Fund on the 8th day after the cycle ends. Formal yield accrual began on August 26, so the first yield payment will be made on October 3.
The Ethereum Foundation, in collaboration with the Open Anonymity Project, has launched zkAPI, which is now live on the Ethereum mainnet. zkAPI allows users to first deposit assets such as ETH and USDC into an on-chain Vault, and then use zero-knowledge proofs to authorize API usage quotas, without exposing their specific payment identity to service providers.
Odaily News: The Ethereum Foundation has announced that zkAPI, jointly developed with the Open Anonymity Project, is now running on the Ethereum mainnet. The solution separates payment from identity through zero-knowledge proofs, allowing users to deposit ETH, USDC, and other assets into a vault contract in a single transaction and authorize AI API usage quotas without revealing their identity.Service providers can view request content but cannot know the payer's identity, while the payment service provider can only see the amount spent and cannot associate it with specific requests or users. zkAPI is initially aimed at AI inference scenarios and can also be used for pay-as-you-go scenarios such as blockchain RPC, image and video generation.
Odaily reports: Bitcoin News posted on X that Volmex has launched the Bitcoin Implied Volatility Index (BVIV) perpetual contract on Hyperliquid. The contract is based on options data from Deribit and OKX, reflecting traders' expectations for Bitcoin's volatility range over the next 30 days, rather than the direction of spot prices; the recent BVIV reading is in the mid-to-high range of the 30s.The contract settles at 1 USDC per index point, uses an isolated margin model, supports up to 5x leverage, and features an hourly funding rate as well as an open interest cap during the initial launch period.
Odaily — Ostium has released an update on the July 15 exploit and a recovery plan for OLP holders. Ostium stated that the attack resulted in approximately $23.75 million being withdrawn from the Ostium Liquidity Pool (OLP), and available evidence suggests the attack may have been carried out by a nation-state actor. As of now, 649,967 USDC has been recovered, and the remaining vault assets currently held by affected users are worth approximately 30% of their pre-incident OLP positions.Ostium launched its recovery portal today and took a snapshot of OLP balances at the time of the incident, identifying a total of 3,666 affected wallets. Of these, 3,321 wallets — or 90.59% — are eligible for full compensation of verified losses through the Phase 1 plan. Users with losses of 1,000 USDC or less can directly claim an equivalent amount in USDC; users with losses exceeding 1,000 USDC may choose to claim 1,000 USDC and forfeit the remaining recovery allocation, or participate in the Phase 2 proportional recovery plan.Phase 2 funding will primarily come from subsequent recovery of attacker funds and a share of Ostium protocol revenue, with the specific revenue share ratio and related arrangements to be announced by October 30.As previously reported, Ostium's off-chain infrastructure was hacked on July 15, resulting in approximately 23.75 million USDC being withdrawn from the OLP vault.
Binance announced that its payment service Binance Pay has integrated with the QR code payment infrastructure of PayPay, Japan's mainstream mobile payment platform. Foreign tourists visiting Japan who have completed identity verification can directly scan PayPay merchant QR codes via the Binance app or present a payment code to complete transactions, supporting settlements using stablecoins such as USDT and USDC, as well as cryptocurrency assets including BTC, BNB, and ETH.
According to official announcements, Bitget has released its 47th Proof of Reserves (PoR). The total reserve ratio stands at 131%, covering 19 asset types. Specifically, the reserve ratios for BTC, ETH, USDT, and USDC are 142%, 110%, 107%, and 154%, respectively. Since December 2022, Bitget has updated its Proof of Reserves on a monthly basis. In September this year, it expanded its coverage from 4 asset types to 19, providing users with broader visibility into platform reserves. Bitget's historical average reserve ratio has remained above 120%, exceeding the 100% coverage benchmark and fully covering insured user assets.
Odaily reports: Aztec Network developer Aztec Labs has relaunched the self-custodial wallet zk.money. The wallet can conceal payment amounts, balances, and recipient information through Aztec Network, and supports transfers via readable names or links.Users can deposit DAI, USDC, or USDT from Ethereum, with USDC and USDT being converted to DAI. Deposit records remain publicly traceable, while subsequent transaction activity remains private.The early Alpha version limits individual deposits, payments, and withdrawals to under $2,500, and screens addresses in accordance with sanctions policy. The software has not yet undergone a full audit and carries security risks. (CoinDesk)
Odaily News: Circle Foundation, the philanthropic arm of Circle Internet Group, has announced the launch of two grant programs in partnership with the United Nations Development Programme (UNDP) and the World Food Programme (WFP) to explore the use of regulated stablecoins and digital financial infrastructure for international development and humanitarian aid payments.Circle Foundation will fund UNDP in establishing a Digital Asset Innovation Pool to support its country offices in scaling regulated stablecoin payments from local pilots to full project delivery. The mechanism is designed to complement traditional banking systems.Another grant awarded to World Food Program USA will support WFP in building governance, risk, compliance, and fund reconciliation frameworks for digital asset distribution. WFP plans to test stablecoin payment channels in 2 to 3 countries over the next three years and conduct independent research to establish benchmarks for speed, efficiency, and cost. (Bitcoin.com News)
Bank payment infrastructure provider Volante Technologies and Circle have announced a strategic partnership to integrate USDC-related payment and settlement processes into Volante's bank payment platform, enabling financial institutions to evaluate stablecoin applications within their existing payment infrastructure without building a separate digital asset system. Supported processes include USDC minting and redemption, receiving wallet registration, fund transfers, and wallet-to-wallet payments. Volante's clients include 4 of the world's top 5 corporate banks and 7 of the top 10 U.S. banks. Both parties stated that the partnership aims to help banks move stablecoins from the experimental stage to practical payment and settlement applications.
Odaily News: Coinbase tokenized stocks are now live on the Base deployment of Aave V4. Eligible users in jurisdictions outside the United States can use AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc, and TSLAc as collateral to borrow USDC. This V4 instance was deployed by Aave Labs on behalf of the Aave DAO, with risk analysis conducted by LlamaRisk. Chainlink, as Coinbase's official oracle solution, provides price data for the tokenized stocks, including underlying stock prices and issuer multipliers.
LayerZero has announced that due to low activity on certain blockchains, it will gradually cease providing off-chain support for them, and affected chains will no longer be able to use LayerZero's Decentralized Verification Networks (DVNs) and executor services. In the next 30 days, Aurora, Taiko, Japan Open Chain, LightLink, Viction, Animechain, XPLA, Merlin, Gnosis, Zora, Otherworld Space, XAI, and opBNB will be affected. Some chains will also lose Stargate Hydra support, and Stargate users should redeem their Hydra assets from these chains, including USDC.e, wETH, and Hydra USDT.
Bitcoin News posted on X platform that Coinbase has launched fixed-rate, fixed-term USDC loans backed by Bitcoin through Morpho Midnight, allowing borrowers to obtain USDC without selling their Bitcoin.The interest rate and repayment date for this product are determined at the start of the loan; if the borrower fails to repay the USDC and interest by the maturity date, the collateralized Bitcoin may be liquidated. Coinbase's existing floating-rate Bitcoin-backed loans powered by Morpho have surpassed $1.4 billion in active or outstanding loan volume, with collateral value of approximately $3 billion.
Circle Foundation announced its support for the United Nations Development Programme (UNDP) and the World Food Programme (WFP) to advance digital payment infrastructure, exploring how to enhance the efficiency, transparency, and financial accessibility of funding disbursement for development projects and humanitarian aid through regulated stablecoins. Specifically, Circle Foundation will fund UNDP’s establishment and operation of the Digital Asset Innovation Pool, facilitating the deployment of regulated payment stablecoins from pilot projects into standard programs. Previously, UNDP has tested solutions such as digital cash payments, fund disbursement in low-connectivity environments, and mobile wallets in locations including Aleppo, Syria; Haiti; Guatemala; and Gambia. Circle Foundation will also provide an additional grant to World Food Program USA to support WFP in building the governance, risk management, fund management, reconciliation, and compliance systems required for stablecoin payments, alongside integration into local fintech and mobile payment networks. Over the next three years, WFP plans to pilot stablecoin payments across payment channels in two to three countries to evaluate their costs, speed, transparency, and operational feasibility.
Odaily News: Aave V4 has launched Equities Hub on Base, allowing eligible non-US users to borrow USDC using 7 tokenized US stocks issued by Coinbase as collateral, covering Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla. The market uses Chainlink to provide on-chain price data for tokenized stocks. The initial combined collateral cap for the 7 stocks is approximately $29 million, with a USDC supply cap of $32 million and a borrow cap of $21 million. Collateral ratios for different stocks range from 65% to 79%. Currently, these stocks can only be used as collateral. Aave stated that more Coinbase tokenized stocks and GHO as borrowable assets may be added in the future after governance and risk assessment approvals. (The Block)