Autor Cointelegraph By Helen Partz

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BitGo has acquired the institutional trading business of Bitcoin infrastructure company NYDIG, adding derivatives and financing capabilities as it expands services for institutional crypto clients.BitGo said it completed the acquisition of NYDIG’s institutional trading business under a definitive agreement, the company announced Thursday. The transaction includes NYDIG’s institutional client trading relationships and about 30 employees who joined BitGo. The companies did not disclose financial terms.The acquired business provides derivatives, structured products, financing and capital markets services to clients including asset managers, hedge funds and companies. BitGo CEO Mike Belshe said the acquisition will “meaningfully scale” the company’s trading and infrastructure capabilities and allow it to serve a broader range of institutional clients.“This transaction allows our team to continue delivering the same innovative solutions, execution quality, and dedication clients have come to expect, now backed by an even deeper set of resources,” said Pete Janney, head of financial infrastructure at BitGo.The companies said the sale will allow the company to focus its resources on power generation, Bitcoin mining and high-performance computing data centers. According to the announcement, NYDIG’s development pipeline exceeds 3 gigawatts, including more than 1 GW of capacity it expects to deliver in 2027 and 2028.Cointelegraph reached out to BitGo for additional details about the transaction but had not received a response by publication.Related: BitGo posts $19M Q2 loss despite 80% revenue surge to $4.3BCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Visa and Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, have formed a strategic partnership to explore stablecoin payments, cross-border remittances and artificial intelligence-powered commerce.The companies will combine Dunamu’s digital asset technology with Visa’s global payments network to explore payment, remittance and settlement services in major markets, according to a Friday announcement from Dunamu.“The spread of AI, stablecoins and tokenization is a key trend that will change how finance and commerce operate,” Dunamu CEO Oh Kyung-seok said, adding that the partnership aims to connect digital assets with traditional finance.Dunamu and Visa are considering business models involving Open Standard’s proposed Open USD (OUSD), a dollar-backed stablecoin unveiled in June. Open Standard said more than 140 companies had signed up to use OUSD, including Visa, Mastercard, Stripe, Coinbase and BlackRock. Dunamu said OUSD is one of several stablecoin projects under review and that it has not prioritized a specific stablecoin for the partnership.In July, Upbit said it was not participating in the issuance of OUSD after its operator, Dunamu, was named among the businesses involved in the initiative.The companies will also explore agentic commerce, in which AI agents can search for products and services and make purchases and payments on a user’s behalf. They will examine ways to combine AI with stablecoin payment and settlement infrastructure.Related: Mirae Asset lays out crypto, stablecoin, tokenization plans for Digital XCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Ripple Prime, Ripple’s multi-asset prime brokerage business, launched a Delta One service for institutional investors, expanding into US equity derivatives.The offering allows clients to execute total return swaps linked to US-listed equities, indexes and digital assets, Ripple said in a Thursday announcement.Total return swaps provide exposure to an asset’s returns without requiring ownership of the underlying asset. The service targets hedge funds, asset managers and other financial institutions. Ripple said clients can use a single counterparty and cross-margin exposures across the supported asset classes around the clock.“The launch of our Delta One business is an important development for Ripple Prime and a natural extension of the platform we’ve built,” Ripple Prime President Noel Kimmel said.Ripple Prime’s existing prime brokerage, clearing and financing services cover foreign exchange, derivatives, fixed income and digital assets. Ripple said the business has more than $1 billion in regulatory net capital.Ripple Prime was created after Ripple completed its $1.25 billion acquisition of Hidden Road in October 2025 and rebranded the business.Earlier in August, Ripple Prime closed a $275 million private placement of senior unsecured notes to support its growth. In May, Ripple Prime secured a $200 million debt facility from funds managed by Neuberger Specialty Finance to expand its lending capacity for institutional clients.Related: South Korea’s Jeonbuk Bank taps Ripple for cross-border paymentsCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

The UK is moving to put stablecoins at the center of a new Bank of England mandate aimed at supporting innovation in digital payments.The government plans to give the Bank of England, the UK’s central bank, a secondary objective to support innovation in payment systems and emerging forms of digital money, HM Treasury announced on Thursday.The mandate will cover payment systems that use digital settlement assets such as stablecoins, while financial stability will remain the BoE’s primary objective.The proposal comes as the UK steps up its work on stablecoins through regulatory changes, payment experiments and closer coordination with the US.BoE innovation mandate faces September debateThe new responsibility would extend an existing approach used to regulate central counterparties (CCPs) and central securities depositories (CSDs), which help clear, hold and settle financial assets.Under the proposed change, the central bank would report annually to Parliament on its progress toward the payments innovation objective.“Developments in digital payments technology, including tokenisation and DLT [distributed ledger technology], have the potential to transform financial markets across the globe,” City Minister Lucy Rigby said.The government expects to implement the objective through amendments to the Financial Services and Markets Bill, which is scheduled for further debate in the House of Lords on Sept. 7 and 9.Stablecoin rules still face industry concernsThe new mandate’s impact may depend on how BoE uses its annual reporting requirement, Maksym Sakharov, co-founder and CEO of on-chain banking infrastructure provider WeFi, told Cointelegraph.“The objective is secondary to financial stability, so it overrides nothing, but the bank will have to publish an annual account of its innovation efforts in payments and digital money,” Sakharov said. This requirement could put greater public scrutiny on stablecoin rules the central bank finalized in June.Related: Binance to plan UK relaunch with FCA license application: ReportSakharov pointed to requirements for systemic stablecoin issuers to hold at least 30% of their backing assets in non-interest-bearing deposits at the central bank.“The reserve split is the first thing to fix,” he said, adding that the requirement could determine whether a stablecoin business is commercially viable.UK steps up stablecoin pushThe new mandate follows increasing UK efforts involving stablecoins, or crypto assets designed to maintain a stable value by tracking assets such as the US dollar.In August, a group participating in the Bank of England’s Digital Pound Lab began testing whether a stablecoin and a simulated digital British pound could work together in a cross-border trade payment. The experimental platform does not use real customers or money.Related: Revolut rolls out euro stablecoin in 3 European marketsIn mid-July, the UK and US published a joint statement on stablecoins, with the governments saying they “intend to enable the use of stablecoins in cross-border finance” and calling for greater alignment of their regulatory frameworks.BoE also previously dropped plans to limit stablecoin holdings to 20,000 British pounds for individuals and 10 million pounds for businesses, replacing them with a temporary 40 billion pound ($52.9 billion) issuance cap for each systemic stablecoin.Magazine: MiCA cracks down on USDT in Europe… but no one else cares