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Competition among exchanges extends to everyday payments, Gate launches a brand new one-stop financial portal Gate Money

According to an official report from Cointelegraph, the competition among cryptocurrency exchanges is undergoing transformation, with the industry's focus gradually shifting from trading data to users' broader daily financial needs. During TOKEN2049, Gate officially launched a one-stop financial service application, Gate Money, to lead this new competitive landscape.Dr. Han, the founder and CEO of Gate, pointed out that Gate Money aims to break down the barriers between traditional investments and daily consumption. It integrates users' named bank accounts, fiat currencies, cryptocurrency assets, and traditional financial holdings such as stocks and gold into the same account system, combined with the Gate Card that supports Apple Pay and Google Pay, as well as a Visa co-branded card, granting assets instant consumption capabilities. It also integrates various fiat currency deposits and withdrawals, on-chain transfers, instant exchanges, and up to 3.6% annualized wealth management, achieving a one-stop experience for asset management, appreciation, and payments.While expanding its business, Gate always places compliance and transparency at its core. Currently, the platform has obtained compliance qualifications in Malta, Dubai, Australia, and the United States; the platform's total reserves amount to $8.688 billion, with a comprehensive reserve ratio of 118.49%. The launch of Gate Money marks Gate's acceleration towards upgrading into a comprehensive financial ecosystem that encompasses daily payments and comprehensive asset management.

UXUY launched the stock tokenization platform uStock to assist U.S. and Hong Kong listed companies in expanding on-chain liquidity

Decentralized exchange UXUY announced the launch of the stock tokenization service platform uStock, primarily targeting small and medium-sized listed companies in the US and Hong Kong stock markets. The platform plans to provide share issuance, on-chain investor distribution, and post-issuance liquidity services, connecting listed companies with global on-chain investors, using stablecoins such as UUSD as tools for subscription, pricing, and settlement.According to the proposed product mechanism, each uToken corresponds to the economic rights of one share of the underlying stock, covering price changes, cash dividends, and corporate actions such as stock splits and mergers. The underlying stocks are intended to be custodied by licensed brokerages, trusts, and other institutions, isolated through independent asset holding entities. The platform plans to disclose stock custody, token issuance, and asset coverage through a Proof of Underlying asset verification mechanism.uStock will establish an initial liquidity pool for uToken/UUSD using part of the raised funds according to the issuance documents and will introduce on-chain market makers. As the spot market and infrastructure advance, the platform intends to gradually support round-the-clock on-chain trading and explore integration with UXUY's self-developed Perp DEX to expand on-chain perpetual contract trading for corresponding uToken assets.UXUY founder 0xKevin stated, "We are bringing stablecoins into more real asset scenarios, allowing US and Hong Kong listed companies to connect with global investors and capital. In the future, we will continuously improve issuance, trading, and liquidity services around real stock rights, establishing a more long-term connection between corporate growth and global on-chain capital."

first_img Analysis: The Democratic Party may regain Congress, and cryptocurrency legislation may shift towards regulatory scrutiny

According to The Block, as the U.S. midterm elections approach, the digital asset industry may face changes in the congressional political landscape. Over the past two years, the Republican-led Congress passed the stablecoin bill GENIUS Act and advanced the broader Clarity Act; the latter passed the House in 2025 but stalled in the Senate due to controversies over stablecoin rewards and ethical issues raised by former President Trump's crypto wealth. Prediction market Kalshi shows that the probability of the Democrats winning the Senate and the House is 64% and 90%, respectively.The chair of congressional committees holds the power to set the agenda. If the Democrats regain the Senate, Elizabeth Warren will become the chair of the Senate Banking Committee. Ron Hammond, head of policy and advocacy at Wintermute, expects that she will actively use subpoena power and may focus on scrutinizing the Office of the Comptroller of the Currency's approvals of new bank charters for Ripple, Coinbase, and World Liberty Financial, which is supported by the Trump family.The election situation in Ohio is also under scrutiny, with former Senate Banking Committee chair Sherrod Brown facing pro-crypto Republican Jon Husted. Fairshake PAC has pledged $30 million to support Husted. Hammond stated that if Brown wins, he may become the chair of the Senate Agriculture Committee, which could potentially shelve related crypto legislation. In the House Financial Services Committee, regardless of whether Maxine Waters, Sean Casten, or Bill Foster leads, the Clarity Act is unlikely to advance. Lindsay Fraser, chief policy officer of the Blockchain Association, stated that while congressional control may change, the demand for clear crypto regulations will not.
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