Circle Stock Surges on US Stablecoin Optimism

**Self secures $9 million funding** to grow its zero-knowledge identity verification platform. The startup launched a **rewards program** designed to encourage more users to verify their identities on-chain using privacy-preserving technology. - Zero-knowledge proofs allow identity verification without revealing personal data - New funding will support platform expansion and user acquisition - Rewards incentivize adoption of decentralized identity solutions This follows broader industry investment in ZK technology, with **Polygon previously allocating $1 billion** toward zero-knowledge infrastructure for Ethereum scaling. The move signals growing demand for **privacy-focused identity solutions** in web3 as users seek alternatives to traditional verification methods.

The **Monetary Authority of Singapore** (MAS) envisions a wholesale Central Bank Digital Currency serving as the foundation for a multi-asset settlement system. The CBDC would act as an **anchor currency**, while private settlement assets handle specific market requirements. This approach creates a hybrid framework combining public and private digital currencies. - Public CBDC provides stability and trust - Private assets offer specialized functionality - System designed for institutional use This builds on Singapore's 2023 announcement to launch a live wholesale CBDC for bank settlements, showing continued progress in digital currency infrastructure.

**XRP becomes the fourth major cryptocurrency to receive spot ETF treatment**, following the successful launches of Bitcoin and Ether funds in 2024, plus Solana just weeks ago. The new fund will provide **direct exposure to XRP tokens** for traditional investors, marking another milestone in cryptocurrency's mainstream adoption. This development continues the trend of major digital assets gaining institutional investment vehicles, making crypto more accessible to conventional portfolios.

A crypto asset manager has submitted an S-1 filing to the SEC for a proposed stock offering, marking another step in the **accelerating trend** of crypto companies entering U.S. public markets. This move reflects the broader industry shift as digital asset firms seek public listings amid a heating crypto market. The filing represents part of a **growing wave** of crypto companies pursuing traditional public market routes. - Multiple crypto firms are now exploring public offerings - Industry players are capitalizing on improved market conditions - The trend signals **mainstream adoption** of crypto businesses The S-1 submission follows similar moves by other crypto asset managers earlier this year, suggesting sustained momentum in the sector's push toward public market accessibility.

**Circle introduces new foreign exchange engine** powered by USDC to transform international payment infrastructure. The system targets three key improvements: - **Modernized cross-border payments** with faster processing - **Reduced settlement risk** through blockchain technology - **Streamlined operations** for financial institutions This follows Circle's earlier announcement of plans for a dedicated layer-1 blockchain to support stablecoin finance infrastructure. The FX engine represents Circle's push to **position USDC as core payment rails** for global financial institutions seeking alternatives to traditional correspondent banking networks.