Autor Cointelegraph By Sam Bourgi

A group of 21 major financial institutions plans to establish a new company to develop and issue stablecoins, offering another sign of traditional finance’s push into digital dollars as regulatory frameworks take shape.The consortium, announced Tuesday, includes Bank of America, Goldman Sachs, Citi, Deutsche Bank, UBS, Santander, MUFG and Fidelity Investments. It plans to launch a US dollar-denominated stablecoin in the first half of 2027, subject to the company’s formation and other conditions.According to the announcement, the group ultimately plans to expand into stablecoins denominated in other G7 currencies, with a euro offering identified as its next priority.The consortium said its stablecoin will target wholesale, institutional and retail markets, including use cases such as cross-border payments and digital asset settlement. The initiative is intended to comply with both the US GENIUS Act and the European Union’s Markets in Crypto-Assets Regulation (MiCA), where applicable.The venture builds on an initiative announced last October, when an initial group of 10 banks said they were exploring a 1:1 reserve-backed form of digital money available on public blockchains. The consortium has since more than doubled in size, bringing together financial institutions across North America, Europe, East Asia, the Middle East and Africa.Related: Kast launches stablecoin-powered business platform after $80M raiseBanks deepen push into stablecoinsThe move comes as stablecoins have grown considerably in recent years, with the passage of the GENIUS Act and MiCA creating clearer regulatory pathways for adoption.Elsewhere, Singapore is considering allowing jointly issued cross-border stablecoins into its regulatory regime, according to a Tuesday announcement, revisiting its earlier decision to restrict the framework to domestic issuance.Institutional interest was already taking shape in early 2025, when a Fireblocks survey of 295 executives found that 90% of respondents were using or planning to use stablecoins.Since then, major financial institutions have expanded their presence in the sector. Societe Generale’s crypto subsidiary has issued euro- and dollar-denominated stablecoins, while Fidelity recently launched its US dollar-pegged FIDD stablecoin. SocGens crypto subsidiary has issued euro- and dollar-denominated stablecoins, as has Fidelity, with its FIDD US dollar-denominated entry. Last month, Standard Chartered backed a Hong Kong dollar stablecoin venture.Related: SEC sends crypto custody rule overhaul to White House for review

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Webull, a self-directed brokerage and trading platform, is expanding its Canadian offering to include cryptocurrencies, adding Canada to a crypto footprint that already includes the United States, Australia and Brazil.The company announced Monday that its Canadian crypto offering will run on Coinbase’s Crypto-as-a-Service infrastructure, with Coinbase providing the underlying trading and custody services. Webull’s Canadian website currently displays 10 cryptocurrencies, including Bitcoin (BTC), Ether (ETH) and Solana (SOL), while indicating that additional assets are also available.The addition of crypto broadens Webull’s Canadian offering beyond stocks, exchange-traded funds and options, bringing digital assets alongside the traditional investments already available to its retail clients.Webull cited growing crypto adoption in Canada as one reason for the expansion, pointing to Ontario Securities Commission research that it says shows digital asset ownership has risen to 25% this year from 10% in 2023. Canadian crypto investment is growing as the country’s regulators move to establish clearer rules for the industry, including a federal framework for stablecoins. Canada doesn’t yet have comprehensive rules for fiat-backed stablecoins, but the Stablecoin Act, introduced following the 2025 federal budget, would set requirements for both domestic and foreign issuers.Related: Canadian crypto ownership increases to 25%: Ontario surveyCointelegraph 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.

Bitmine Immersion Technologies extended its Ether buying streak to 65 consecutive weeks, adding 53,501 ETH last week as a broader crypto market recovery lifted the value of its burgeoning digital asset portfolio despite sizable unrealized losses.The latest purchase brought Bitmine’s holdings to more than 5.9 million ETH, valued at roughly $14.8 billion based on an Ether price of $2,511 as of Sunday. The company now owns 4.9% of Ethereum’s 120.7 million circulating supply, putting it within striking distance of its stated goal of owning 5%.Bitmine’s chairman, Tom Lee, said Ether, Bitcoin (BTC) and Solana (SOL) have been the three best-performing major assets since June 30, with ETH leading the gains.“We believe this sets the stage for institutions to add to their crypto holdings given the substantial outperformance of crypto versus other macro assets in 3Q so far,” Lee said.Following the latest purchase, Bitmine is sitting on roughly $5.1 billion in unrealized losses on its Ether holdings, according to DropsTab data. The paper losses reflect sustained accumulation through the downturn, which began in the fourth quarter of last year and sent Ether and the broader crypto market sharply lower.The company’s NYSE-traded BMNR shares were up 1.3% on Monday morning, at $24.09 apiece, poised to end the month with an almost-40% increase, according to Yahoo Finance data.Related: Bitmine extends 14-month ETH buying pace as Ether breaks above $2.5KCointelegraph 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.

Strive, a publicly traded asset manager and Bitcoin treasury company, added 1,800 Bitcoin to its holdings last week, accelerating an accumulation strategy that has propelled it into the ranks of the world’s five biggest publicly traded corporate Bitcoin holders.The company purchased the Bitcoin (BTC) for approximately $143 million between Aug. 24 and Aug. 28, paying an average price of $79,431 per BTC, including fees and expenses. CEO Matt Cole confirmed the acquisition on Monday.The purchase brought Strive’s total holdings to 23,156 Bitcoin, up from 21,356 BTC a week earlier. As Cointelegraph reported, the company had purchased 1,110 BTC the previous week for roughly $81.5 million at an average price of $73,409 per coin.Strive has accelerated its Bitcoin accumulation in recent weeks. Adam Livingston, an adviser to Saturn Credit, noted that the latest purchase increased the company’s Bitcoin holdings by roughly 8.4% in just five business days.Source: Adam LivingstonThe acquisition also pushed Strive past Bullish, the crypto exchange and digital asset infrastructure company, to become the fifth-largest publicly traded corporate holder of Bitcoin, according to industry data.Corporate Bitcoin buying returns as price reboundsStrive’s latest purchases have coincided with a broad recovery in Bitcoin and the wider digital asset market that began on Aug. 19, when the US Treasury Department announced plans to double the size of certain long-term bond buybacks. The move helped push Treasury yields lower and fueled a rebound in risk assets, with Bitcoin rallying more than 23% to a recent high above $81,000.Strive isn’t alone in ramping up its Bitcoin purchases. Michael Saylor’s Strategy, the world’s largest corporate Bitcoin holder, announced Monday that it had resumed buying BTC for the first time since June, acquiring 4,603 Bitcoin at an average price of $80,318.The purchase lifted Strategy’s holdings back above 845,000 BTC following four Bitcoin sales since May.Related: Crypto Biz: Bitcoin pumps, Wall Street does the paperwork