Autor Cointelegraph by Nate Kostar

PUSD, a Shariah-compliant stablecoin backed by Gulf currencies, is set to deploy on ADI Chain, a Layer 2 network focused on institutional settlement in the Middle East.According to an announcement shared with Cointelegraph, the stablecoin has about $2.3 billion in circulation and is backed 1:1 by reserves held in Saudi riyals and UAE dirhams, which are pegged to the US dollar. It is already available on multiple blockchains, including Ethereum, BNB Chain, Solana and Tron, with ADI Chain marking its latest integration. The stablecoin is positioned to provide access to Islamic finance markets, which represent more than $3 trillion in assets globally, according to the announcement from the ADI Foundation.ADI Chain is the settlement layer for a dirham-backed stablecoin initiated by International Holding Company and First Abu Dhabi Bank and licensed by the Central Bank of the UAE, according to the announcement.The addition of PUSD introduces a second stablecoin to the network, allowing institutions to settle transactions using either a dollar-linked asset or a dirham-denominated token on the same infrastructure.Transactions on the network require its native token for fees and are expected to support settlement across corridors linking the Gulf, the Middle East and parts of Africa. PUSD is issued by Palm Azgar Finance and is designed for institutional use, including corporate treasuries, exchanges and payment processors.Related: Here’s why crypto is moving to Dubai and Abu DhabiUAE builds out stablecoin frameworkThe United Arab Emirates has developed a multi-layered regulatory framework for digital assets, with authorities including the Central Bank of the UAE and Abu Dhabi Global Market (ADGM) establishing rules for stablecoins and virtual asset providers. Within that framework, dirham-pegged payment tokens are being explored as a way to modernize domestic payments and improve cross-border settlement.In December, UAE telecom giant e& signed an agreement with Al Maryah Community Bank to test a dirham-pegged stablecoin licensed by the UAE central bank for consumer payments across its digital platforms in an early-stage pilot.The following month, RAKBank received in-principle approval from the central bank to issue a dirham-backed stablecoin, with the planned token expected to be fully backed 1:1 by reserves held in regulated accounts. The approval is subject to final regulatory and operational conditions before any live issuance.[embedded content]The push has also expanded to dollar-denominated tokens operating under local rules. In January, Universal Digital launched USDU, a US dollar-backed stablecoin registered by the UAE central bank under its Payment Token Services Regulation, making it the first dollar-denominated token approved for payment use within the framework.Separately, the Financial Services Regulatory Authority has granted approvals to several crypto firms, including Tether (USDT), Ripple USD and Circle, to operate inside the ADGM’s financial zone.Magazine: Will the CLARITY Act be good — or bad — for DeFi?Cointelegraph 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. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Thailand’s Securities and Exchange Commission (SEC) is seeking public comment on proposed rule changes that would allow licensed digital asset businesses to apply directly for derivatives licenses, removing the requirement to establish separate entities.The proposed revisions would build on earlier changes recognizing digital assets as eligible underlying assets for futures contracts, expanding the scope of Thailand’s derivatives market while introducing additional requirements to manage conflicts of interest and strengthen oversight.Source: The Securities and Exchange Commission, ThailandThe proposal could lower barriers for crypto companies to enter the derivatives market by allowing them to apply for licenses within existing entities, rather than establishing separate companies, while bringing those activities under tighter regulatory oversight.The regulator said the changes are intended to provide investors with additional tools for hedging and portfolio management, as well as bringing standards for derivatives exchanges and clearing houses in line with international practices.The proposed changes are open for public consultation until May 20, with feedback from industry participants expected to inform the final framework.Related: Thailand proposes tighter scrutiny of funders behind crypto firmsCrypto derivatives expand as US moves toward approvalThailand’s proposal comes as crypto derivatives expand globally and momentum builds toward regulatory approval in the United States.On Tuesday, Blockchain.com introduced perpetual futures trading in its self-custody wallet, allowing users to open leveraged positions using Bitcoin (BTC) as collateral without transferring funds to an exchange. Underpinned by Hyperliquid, the feature offers access to more than 190 markets with as much as 40x leverage.Other exchanges have taken a similar approach. Earlier this year, both Kraken and Coinbase launched perpetual futures tied to equities for non-US users as part of a broader push toward 24/7, multi-asset trading.While most of these products remain largely unavailable in the United States, that could change soon. In March, Michael Selig said the Commodity Futures Trading Commission is working to enable crypto perpetual futures, adding the agency could move on the products “within the next month or so.”In the meantime, exchanges appear to be positioning for potential approval. Last week, Kraken parent Payward agreed to acquire Bitnomial, a US-regulated derivatives venue, in a move aimed at expanding access to products including perpetual futures for US clients.Magazine: How to fix insider trading on platforms like Polymarket and KalshiCointelegraph 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. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Binance.US has reduced spot trading fees to 0% for makers and 0.02% for takers across all trading pairs, extending near-zero pricing to all users without volume thresholds or subscription requirements.The new pricing replaces the platform’s tiered fee structure and applies to all accounts, with the company saying the move could reduce trading costs by as much as 98% compared with competitors such as Coinbase.Coinbase’s fees start at about 0.40% to 0.60% for lower-volume traders while Kraken’s fees start around 0.25% to 0.40% and decline with volume, according to information on those exchanges’ websites.Last week, Charles Schwab, one of the largest US brokerage firms, said it will roll out spot cryptocurrency trading for retail clients in the coming weeks, starting with Bitcoin (BTC) and Ether (ETH) at a fee of 75 basis points per transaction.According to an announcement shared with Cointelegraph, the updated Binance.US fee structure applies to every user with no portfolio minimums, volume tiers or subscription fees and takes effect immediately.The change follows the appointment of Stephen Gregory as chief executive and expands the platform’s earlier zero-fee offering on select Bitcoin pairs to all spot markets.The platform said the new fees are supported by its trading infrastructure and follow the completion of a SOC 2 Type II audit covering its systems and controls.Binance.US is the US-regulated arm of Binance, the largest crypto exchange in the world by trading volume.Separately, Binance begun integrating prediction market features into its main app earlier this month through third-party platforms, starting with Predict.fun, offering “gasless” trading by covering transaction and settlement fees on BNB Smart Chain. Related: Bitcoin inflows to Binance fall to 2023 low as BTC bulls set target on $80KBinance under renewed US scrutiny over Iran-linked transactionsBinance’s operations in the United States have remained under close regulatory and political scrutiny since its 2023 settlement with authorities.In 2023, the exchange reached a $4.3 billion settlement with US authorities over anti-money laundering and sanctions violations, with former CEO Changpeng “CZ” Zhao pleading guilty to a felony charge. The agreement also placed the company under a court-imposed monitoring program requiring ongoing oversight and reporting to US regulators.In March 2025, scrutiny intensified after a UAE-based entity invested $2 billion in Binance using a stablecoin issued by a company linked to US President Donald Trump and his family, raising conflict-of-interest concerns among lawmakers. Later that year, Trump issued a pardon to Zhao following his four-month prison sentence.[embedded content]Regulatory pressure has continued into 2026. In February, a group of US senators urged Treasury and Justice Department officials to conduct a comprehensive review of Binance’s compliance controls following reports that more than $1.7 billion in transactions linked to Iranian entities may have flowed through the platform. Binance denied the allegations in a letter to Senators Richard Blumenthal and Ron Johnson, calling the reports “false” and unsupported by evidence. The company also said it had filed a defamation lawsuit against The Wall Street Journal.Most recently, Blumenthal sent letters to the Justice Department and the Financial Crimes Enforcement Network to determine whether Binance is meeting its obligations under the 2023 court-imposed monitoring program. Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1MCointelegraph 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. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Blockchain.com has rolled out perpetual futures trading in its non-custodial DeFi wallet, allowing users to open leveraged positions directly from self-custodied Bitcoin used as collateral without transferring funds to an exchange.According to Tuesday’s announcement, the feature is routed through decentralized derivatives exchange Hyperliquid and gives users access to more than 190 crypto markets with up to 40x leverage.Perpetual futures are derivative contracts that allow traders to take leveraged positions on an asset’s price without an expiration date. Michael Selig, chair of the Commodity Futures Trading Commission (CFTC), said last month that the derivatives regulator plans to allow the contracts in the coming weeks.[embedded content]Trades are executed while assets remain in the wallet, allowing users to open, manage and close positions without relinquishing control of private keys or relying on a custodial intermediary.Blockchain.com said the product also allows accounts to be funded directly with Bitcoin (BTC) from the user’s wallet in a single transaction, avoiding conversions or transfers across platforms. The company said it expects to expand the offering with additional asset classes, including foreign exchange, stocks and commodities, in the near future.Blockchain.com, launched in 2011 and based in Malta, is a crypto services platform offering wallets, trading and infrastructure tools for retail and institutional users.Related: HYPE hits 2026 high as Hyperliquid volumes soar: Is the rally sustainable?Perpetual futures expand beyond crypto into multi-asset tradingPerpetual futures trading is expanding beyond cryptocurrencies into equities, commodities and other asset classes, as centralized and decentralized exchanges continue to broaden their offerings beyond digital assets.In February, crypto exchange Kraken launched tokenized equity perpetual futures for non-US clients, offering 24/7 leveraged exposure to US stocks, indexes and commodities through crypto-based derivatives.The following month, Coinbase launched stock-based perpetual futures for non-US users, offering leveraged, cash-settled exposure to major US equities as part of its push to expand 24/7 multi-asset trading.On Tuesday, website The Information reported that prediction market platform Kalshi is exploring entry into crypto derivatives, with plans to offer perpetual futures trading in the United States.Hyperliquid has also expanded beyond crypto-native markets. Data from the platform shows that commodity- and index-linked perpetual contracts, including oil, the S&P 500 and silver, rank among its most actively traded markets by volume, alongside major cryptocurrencies like Bitcoin and Ether.Top markets on Hyperliquid by 24-hour trading volume. Source: Hyperliquid.xyzMagazine: Will the CLARITY Act be good — or bad — for DeFi?Cointelegraph 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. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Singapore fintech Nium has selected Coinbase to integrate USDC payments into its global network to send, receive and convert stablecoins to fiat across more than 190 countries through a single platform.According to a Tuesday announcement, the integration uses Coinbase’s infrastructure for custody, liquidity and wallet services, enabling Nium’s customers to fund cross-border payouts in USDC and settle in either stablecoins or local currencies without relying on prefunded accounts.Nium said the setup supports just-in-time settlement, allowing funds to be deployed at payout rather than held across multiple jurisdictions, and includes options to link stablecoin balances to card programs for real-world spending.According to Nium, its network supports more than 100 currencies, with local collection in 40 markets, real-time payouts in over 100 corridors and more than 40 regulatory licenses worldwide.The rollout follows the company’s recent launch of a platform that enables businesses to issue stablecoin-funded cards on Visa and Mastercard networks, with balances converted to fiat at the point of sale and settlement, compliance and integration handled through a single system.USD Coin (USDC), a US dollar-pegged stablecoin launched in 2018 by Circle and Coinbase, is designed to maintain a 1:1 value with the dollar and is backed by cash and short-term US Treasury reserves.According to DefiLlama data, it is the second-largest stablecoin by market capitalization, at around $78 billion, behind Tether’s USDT (USDT), which stands at roughly $188 billion.Related: Iran views BTC as strategic asset, but USDt still dominates oil tolls: BPICircle expands USDC use in cross-border paymentsCircle has been expanding USDC’s role in cross-border payments through a series of partnerships aimed at integrating stablecoin settlement into existing financial networks.In March, the company teamed with Sasai Fintech to expand USDC payments across African corridors, targeting remittances, business transactions and mobile wallets. In parts of Sub-Saharan Africa, remittance costs exceed 7%, well above the UN’s 3% target.Earlier this month, Circle teamed up with Thunes to expand USDC settlement across its global payments network, enabling near real-time cross-border transfers while reducing reliance on prefunded accounts. The integration extends USDC-based liquidity across Thunes’ network, which spans more than 140 countries.Recent data shows increasing USDC activity. A CEX.IO report earlier this month found the stablecoin’s supply grew by about $2 billion in the first quarter, while Tether’s USDT declined by roughly $3 billion, marking a divergence between the two for the first time since 2022.Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1MStablecoin market cap. Source: DefiLlamaCointelegraph 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. Read our Editorial Policy https://cointelegraph.com/editorial-policy