QumulusAI, a company building GPU-powered cloud infrastructure for artificial intelligence, has locked in a $500 million credit facility to fund its growing fleet of graphics processing units (GPUs). The financing was arranged by Permian Labs and will be distributed via USD.AI, a blockchain-based credit protocol that connects crypto liquidity to real-world infrastructure, according to an announcement shared with CoinDesk. The non-recourse facility will allow QumulusAI to borrow stablecoins against up to ...

Core Insights - The crypto market experienced a growth of 1.99% in the first half of the year, indicating a shift in strategies within the industry [1] - Prediction markets like Kalshi and Polymarket are gaining traction, attracting both institutional and retail investments as regulatory frameworks are being established [1] - The potential for these markets to evolve into regulated risk-pricing tools raises questions about their legality and sustainability [1] Company Developments - Intercontinental Exchange (ICE) is in discussions to value Polymarket at $10 billion, marking a significant intersection between traditional finance and blockchain prediction markets [2] - Polymarket's CEO announced funding rounds totaling $205 million, with notable investors including Founders Fund and Blockchain Capital, highlighting the blend of crypto and traditional capital [3] - Kalshi has raised $265 million, including a $185 million Series C round, achieving a valuation of $2 billion, showcasing strong investor interest [2][3] Regulatory Landscape - Massachusetts regulators have sued Kalshi, arguing that its NFL contracts constitute unlicensed sports betting, which may set a precedent for the distinction between prediction and wagering [6] - Kalshi has filed NFL stat contracts and self-certified seasonal markets under Rule 40.2, allowing listings before formal approval while remaining under review [7] Market Expansion - Polymarket has expanded its operations by partnering with Stocktwits for earnings markets and being named an official provider by X (formerly Twitter) [5] - Kalshi's collaboration with xAI further extends its reach beyond the traditional crypto audience [5]

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We had a blockchain network. Our coin is listed at the nine exchange and now we are announcing our metaverse project base of uh education next generation of education. In next 5 to 10 years people they're going to live in the metaverse.Now I'm scary for the kids when they are using this is not right. there is no uh monitoring on it and uh that's why we create our KYC token to KYC people then access them to the metaverse people they use metaverse or they use NFD it should be for a reason like a land of legen ...

Summary of Key Points from the Fintech Radar | Europe Industry Overview - The report covers developments in the fintech industry, particularly focusing on new product launches, mergers and acquisitions, and funding activities within the sector. Key Companies and Developments 1. **OpenAI** - Launched Instant Checkout, allowing US users to purchase directly from Etsy sellers via ChatGPT, with plans to integrate over a million Shopify merchants soon [1][4][7] 2. **Wealthfront** - Filed for an IPO on the Nasdaq under the ticker WLTH, reporting a net income of $61 million on revenues of $175.6 million for 1H25, a decline from $132 million net income on $145.9 million revenues in 1H24 [1][5] 3. **Fiserv** - Signed an agreement to acquire StoneCastle Cash Management to enhance institutional deposit funding capacity, aiming to improve financial institutions' balance sheets and liquidity. The transaction is expected to close by 1Q26 [2][5] 4. **Viamericas** - Raised $114 million to expand its global remittance network, currently operating 300,000 payout locations in 95 countries [3][5] 5. **Swift** - Announced plans to add a blockchain-based ledger to its infrastructure, collaborating with over 30 financial firms to enhance transaction validation and enable real-time cross-border payments [8][5] 6. **Visa** - Launched a pilot program for pre-funded stablecoins to facilitate cross-border payments, allowing businesses to pre-fund Visa Direct with stablecoins [10][11][5] 7. **Nubank** - Applied for a US federal banking charter to expand its operations in the US, allowing it to offer deposit accounts, credit cards, and lending services [14][15][5] 8. **Circle and Deutsche Börse** - Collaborated to advance stablecoin adoption in Europe, focusing on integrating Circle's stablecoins within Deutsche Börse's financial infrastructure [15][5] Financial Trends and Insights - The fintech sector continues to attract significant funding, with US fintechs leading with approximately $16.1 billion raised YTD, followed by Europe at $9.3 billion and Asia at $6.1 billion [19][20][22] Additional Insights - Fiserv's management expressed a commitment to modernizing core platforms and expanding services for small and medium-sized businesses, despite concerns about meeting medium-term growth targets [9][5] - The report highlights the strategic importance of stablecoin integration and blockchain technology in enhancing liquidity and operational efficiency across financial institutions [10][11][8][15]

Core Insights - The Bank of North Dakota and Fiserv are launching Roughrider Coin, a U.S. dollar-backed stablecoin, set to debut in 2026 [1][3] - Roughrider Coin will operate on Fiserv's digital asset platform, FIUSD, and will be available to banks and credit unions in North Dakota [1][3] - The coin aims to enhance bank-to-bank transactions, promote global money movement, and drive merchant adoption, although challenges remain regarding consumer protections [3] Company Developments - Fiserv launched the FIUSD platform in June, enabling banks and credit unions to issue and transfer dollar-backed digital assets [1] - Mastercard plans to integrate FIUSD into its global payments network, making Roughrider Coin the first state-issued stablecoin on the Solana blockchain [2] - The Bank of North Dakota has been authorized to develop a beta version of Roughrider Coin, with oversight from the North Dakota Industrial Commission [6][7] Regulatory Context - The Roughrider Coin aligns with the GENIUS Act, which established a national framework for payment stablecoins, supporting faster and more secure transactions [6] - The initiative reflects North Dakota's commitment to innovation in finance and industry, as highlighted by Governor Kelly Armstrong [4][5]

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Core Insights - The UK is set to appoint a dedicated official, termed a "digital markets champion," to facilitate the transition to blockchain-based financial infrastructure [1][2] - The initiative includes the formation of the Dematerialisation Market Action Taskforce to oversee the shift from paper-based shareholding to digital formats [3] - The tokenization strategy is part of the UK's Wholesale Financial Markets Digital Strategy, which aims to develop blockchain-based sovereign debt instruments known as digital gilts [4] Group 1 - The digital markets champion will coordinate private sector initiatives related to the tokenization of wholesale financial instruments and align technical development with regulatory priorities [2][4] - The UK has initiated a procurement process to select technology providers for the issuance of digital gilts, which will represent UK sovereign debt on distributed ledger systems [4] - The UK's efforts are part of a broader global trend, with countries like France, Singapore, and the United States also exploring tokenization frameworks for securities [5] Group 2 - There is ongoing discussion about extending tokenization frameworks to retail-facing financial services, focusing on access, interoperability, and settlement speed as pilots evolve into operational systems [6] - The UK's initiatives may serve as a test case for how blockchain infrastructure can transform post-trade workflows, potentially influencing custodians, clearinghouses, and regulators [7]