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first_img U.S. Bank completes USBDC stablecoin real-time cross-border payment test

According to CoinDesk, U.S. Bank, the fifth largest commercial bank in the United States (a subsidiary of U.S. Bancorp), announced the successful completion of a real-time cross-border payment test based on its own US dollar stablecoin USBDC, with transactions completed via the Stellar blockchain between its entities in North America and Europe. As one of the first bank-issued stablecoins deployed on a public blockchain, USBDC is expected to bridge the gap in the global banking system with 24/7 trading capabilities.The pilot validated the functions of USBDC, including minting, payment redemption, freezing, and recovery, and tested the bank's internally developed digital asset platform, which serves as the foundation for issuing, managing, and transferring tokenized assets, enabling seamless integration between traditional banking infrastructure and blockchain networks. U.S. Bank Chairman and CEO Gunjan Kedia stated that this real-time pilot demonstrates its ability to accelerate global cash management and fund flows.This test is based on the bank's strategic partnership with the Stellar Development Foundation, with future application scenarios including liquidity management, collateral transfer, and cross-border financial operations. As global stablecoin regulation advances, banks are accelerating their entry into the market. Last week, 21 financial institutions, including Bank of America, Citi, Goldman Sachs, and UBS, announced plans to form a company to issue stablecoins, with the expectation of launching a dollar token in the first half of 2027.

The U.S. government sells shares of Anthropic held by two key allies of SBF, with a potential value reaching billions of dollars

The U.S. government previously seized the shares of Anthropic held by FTX founder Sam Bankman-Fried's two key allies, Caroline Ellison and Nishad Singh, and sold the related shares to existing investors of Anthropic in 2025. However, the specific buyers, transaction prices, and the amount received by the government have not been disclosed. The court previously ruled that Ellison and Singh must forfeit their shares in Anthropic. The U.S. government acquired the shares of the two in February and April 2025, respectively. The two had previously invested $10 million and $40 million to participate in Anthropic's Series B financing in 2022.As Anthropic's valuation skyrocketed, the value of their shares significantly increased. UCLA professor Olav Sorenson estimated that based on Anthropic's announced valuation of $965 billion in May this year, the total value of their holdings is approximately $4.17 billion to $5.03 billion; if Anthropic goes public at a valuation of $2 trillion in the future, the value of the related shares could reach about $5.44 billion. It is currently unclear at what price the U.S. government sold these shares. Estimates indicate that if the transaction occurred at different points in time in 2025, the proceeds from the sale of the related shares could range from approximately $250 million to $1.1 billion. Notably, as of the end of June 2026, the proceeds from the sale do not appear to have been transferred into the FTX bankruptcy estate management system. FTX victims' representative Sunil Kavuri stated that the government should use the related funds to compensate the victims; the U.S. Department of Justice claimed that it prioritizes providing compensation to victims from forfeited assets, but information regarding the sale of related assets and fund distribution is confidential.

first_img SBI Holdings invests $270 million in Indonesian platform Ajaib to acquire a 20% stake

SBI Holdings, a Japanese financial services group, announced an investment of $270 million in the Indonesian multi-asset investment platform Ajaib Group, acquiring approximately 20% minority equity, making the Jakarta-based Ajaib an equity method associate of SBI. Ajaib confirmed this strategic investment in a LinkedIn post on Friday, stating that it is the largest tech financing in Indonesia since 2022, bringing its total funding since 2019 to over $500 million.Ajaib offers investment channels including domestic and international stocks, bonds, mutual funds, exchange-traded funds, crypto assets, stablecoins, commodities, and foreign exchange, while also covering payment and savings services, and providing over-the-counter stablecoin settlement services and liquidity support for Indonesian businesses and institutional investors. SBI stated that this collaboration will promote the adoption of digital assets in Asia and continue to expand its business footprint in the region.The SBI Group operates the Japanese crypto exchange SBI VC Trade, the Singapore exchange Coinhako, and the UK market maker B2C2. Other digital asset projects include the yen stablecoin JPYSC and the Layer 1 blockchain Strium developed for financial applications. SBI Holdings Chairman and President Yoshitaka Kitao stated that in the era of tokenization, the importance of global infrastructure for digital assets is increasingly prominent. SBI is establishing a network of digital asset exchanges in Southeast Asia through the "SBI APAC Digital Economic Zone" initiative, and Ajaib's model of combining traditional financial products with digital assets aligns with this strategy.

first_img SBI acquired a 20% stake in Indonesian brokerage Ajaib for $270 million, expanding its yen stablecoin

According to CoinDesk, Japanese financial giant SBI Holdings plans to acquire a 20% stake in Indonesian online brokerage Ajaib Group for $270 million by the end of this month to expand the circulation of its yen stablecoin JPYSC in Southeast Asia and utilize blockchain technology to build cross-border settlement infrastructure.Ajaib provides a foothold for SBI to enter the Indonesian market. Indonesia is one of the largest retail investment markets in ASEAN, with over 20 million retail investors and an estimated retail market size of $375 billion. Ajaib operates online brokerage, forex margin trading, cryptocurrency, and asset management businesses in Indonesia, and this $270 million deal is also the largest tech financing in Indonesia in years.SBI Chairman and President Yoshitaka Kitao stated that in the era of tokenization, the importance of global digital asset infrastructure is becoming increasingly prominent. This investment is part of SBI's strategy in Southeast Asia, having previously acquired Singapore cryptocurrency exchange Coinhako for about $100 million and invested in Singapore digital securities trading platform DigiFT. The Japanese government has also recently announced plans to build blockchain infrastructure for stocks and government bonds, with the expectation of launching 24/7 on-chain settlement in the early 2030s.
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