[News Brief] Apr 22, morning | Upbit Lists Solstice (SLX)

Upbit Lists Solstice (SLX)

According to Odaily, Upbit announced the listing of Solstice (SLX) and said it will support trading markets in KRW, BTC, and USDT.

With this listing, domestic investors will now be able to trade SLX on Upbit through major market pairs.

Coinbase Launches Direct INR Deposit and Withdrawal Channel for Users in India

Coinbase has launched a direct Indian rupee (INR) deposit and withdrawal channel for users in India, according to Odaily.

Users can transfer funds directly from their bank accounts to the Coinbase platform through the IMPS system. This means they no longer need to rely on P2P marketplaces or third-party intermediaries.

Coinbase also plans to offer perpetual futures contracts and Coinbase Advanced tools for professional investors.

Previously, Coinbase faced difficulties expanding its services in India in 2022 due to issues surrounding UPI payment support. The company has emphasized its commitment to regulatory compliance and long-term operations in the country through registration with India’s Financial Intelligence Unit (FIU).

Gate Launches Real U.S. Stock and ETF Trading Service Using Crypto Accounts

Source: Odaily

Digital asset platform Gate has launched a real stock trading service that allows users to trade U.S. stocks and ETFs directly from their crypto accounts.

Gate said users can use USDT on the platform to trade stocks and ETFs listed on major markets including Nasdaq and the New York Stock Exchange. The service is not based on stock tokenization or RWA mapping, but instead connects to real markets through partnerships with securities firms that hold U.S. broker-dealer licenses and clearing qualifications.

Gate currently supports major U.S. trading venues and liquidity networks including the New York Stock Exchange, Nasdaq, NYSE Arca, NYSE American, and BATS, and says it offers more than 10,000 stock and ETF products.

After completing KYC and meeting regional eligibility requirements, users can transfer USDT, view prices, and trade stocks through the traditional finance stock menu in the Gate app. Gate said stock assets are managed in separate accounts and that holding costs for spot stocks are operated at zero.

Temporal Team Submits SIMD 547 Upgrade Draft to Solana Governance Forum

According to Odaily, the Temporal team has submitted an upgrade draft, SIMD 547, to the Solana governance forum.

The proposal introduces a demand-based fee model for resources on Solana and includes a mechanism to burn 100% of newly generated fees. The goal is to price costs according to computing usage and increase SOL burn as network activity rises.

Bithumb Lists HNT KRW Trading Pair

According to Odaily, Bithumb announced through an official notice that it will list the HNT/KRW trading pair.

The listing of a new KRW market on a domestic exchange is generally viewed as a factor that improves local trading accessibility for the asset.

NYDIG Analyzes $1.26 Billion Block Trade in BlackRock Spot Bitcoin ETF IBIT

According to the source, NYDIG analyzed that the $1.26 billion block trade in BlackRock’s spot Bitcoin ETF IBIT was more likely a large investor’s rapid withdrawal of funds rather than a typical hedge fund basis trade.

The transaction was executed on May 26 at $43.16 per share. This was 2.3% lower than the market price of $44.17 at the time, implying an estimated transaction cost of about $29.5 million.

NYDIG explained that such a discount suggests the seller prioritized speed and certainty over price. It also noted that if this had been a basis trade unwind, the discount would have significantly reduced the strategy’s expected returns.

Trading volume in CME Bitcoin futures also did not increase unusually at the time of execution. According to NYDIG, only 91 CME Bitcoin futures contracts were traded during that period.

The trade came amid continued outflows from U.S. spot Bitcoin ETFs. From May 15 to May 29, net outflows were recorded for 11 consecutive trading days, and total assets fell from $107.75 billion to $94.17 billion.

ECB’s Schnabel Presents Digital Euro as Response to Stablecoin Expansion

Isabel Schnabel, a member of the Executive Board of the European Central Bank (ECB), said that the best response to the expansion of stablecoins is the launch of a digital euro.

According to PANews, citing Bloomberg, Schnabel said that while private monetary innovations such as stablecoins may have advantages, they can also pose risks to financial stability and the transmission of monetary policy.

She warned that stablecoins could heighten bank run risks, weaken the effectiveness of interest rate decisions, and potentially strengthen the international dominance of the U.S. dollar.

Schnabel explained that the ECB’s strategy is based on both a retail central bank digital currency (CBDC), the digital euro, and wholesale tokenized central bank money.

Her remarks came shortly after Federal Reserve Governor Christopher Waller said that the global expansion of stablecoins could increase the reach of U.S. monetary policy.

Fed Governor Waller and BoE’s Greene Offer Diverging Views on Stablecoins

Federal Reserve Governor Christopher Waller and Bank of England policymaker Megan Greene presented differing views on the outlook for stablecoins.

According to Odaily, Waller said at the Dubrovnik economic conference that broader use of dollar-based stablecoins could strengthen the global influence of U.S. monetary policy. He viewed stablecoins as one form of payment instrument and said they could foster competition in the payments market.

In contrast, Greene predicted that tokenized deposits could replace stablecoins within the next few years. She compared central bank digital currencies to a turtle, stablecoins to a rabbit, and tokenized deposits to a rhinoceros, suggesting that tokenized deposits could eventually emerge as the dominant form.

Russia Could See Up to 1 Million Crypto Accounts Opened in First Year After Law Takes Effect

According to Odaily, Aleksey Korolenko, managing director at Cifra Markets, said that the number of crypto account openings in Russia could rise sharply after the relevant law takes effect.

Korolenko projected that if major financial institutions introduce user-friendly services, as many as 1 million crypto accounts could be opened in the first year within a legal and regulated framework.

Binance Lists Six U-Margined Perpetual Futures Tracking U.S. Stocks

According to Odaily, Binance said it will list six U-margined perpetual futures contracts in sequence on June 1 from 13:30 to 13:55 UTC: LLYUSDT, NVOUSDT, BBXUSDT, NOKUSDT, EWTUSDT, and ASTSUSDT.

These contracts track the share prices of Eli Lilly, Novo Nordisk, BlackBerry, Nokia, iShares MSCI Taiwan ETF, and AST SpaceMobile, respectively. They support leverage of up to 20x, and funding fees are settled every eight hours.