Corporations Accelarate Bitcoin Accumulation, Stablecoins Emerge as Key Crypto Infrastructure
As institutional interest in Bitcoin soars, new ventures focus on building billion-dollar treasuries, while stablecoin adoption, both self-custodied and regulated, gains significant traction.
Norwegian Deep-Sea Miner Plans $1.2 Billion Bitcoin Purchase
Green Minerals AS, a Norwegian company specializing in deep-sea mining, announced ambitious plans to allocate up to $1.2 billion to a Bitcoin treasury. This development underscores the expanding institutional appetite for digital assets beyond publicly traded firms.
The company, which intends to integrate Bitcoin as part of a broader strategy incorporating blockchain technology into its operations, views the digital asset as a tool for diversifying assets away from traditional fiat currencies.
Wider corporate investment is accelerating; earlier this month, Tether and Bitfinex transferred $3.9 billion worth of Bitcoin to Twenty One Capital, a fintech startup with backing from SoftBank and Cantor Fitzgerald. Separately, Anthony Pompliano, a prominent crypto entrepreneur, launched ProCap BTC with plans to acquire up to $1 billion worth of the cryptocurrency.
SVFI Executives Target BNB Token with $100M Fundraise
While Bitcoin dominates corporate treasury strategies, other digital assets are also gaining institutional attention. Crypto hedge fund professionals from Coral Capital Holdings, formerly part of the SVFI (Seven Ventures Fund II, Inc.) coalition, have initiated a $100 million fundraising effort to acquire large quantities of Binance’s BNB token.
Patrick Horsman, Joshua Kruger, and Jonathan Pasch intend to complete the financing this month and commence accumulation immediately through their newly established vehicle, Build & Build Corporation. This entity aims for a subsequent Nasdaq public listing.
Yielding Stablecoins Predicted to Be an Inevitability
The evolution beyond simple stablecoins is already occurring, with yield-generating products attracting significant venture capital. CoinFund, a crypto-native investment platform, recently participated in a Series A round for DeFi protocol Veda, which focuses on creating cross-chain yield products – effectively functioning as interest-bearing stable assets.
David Pakman, managing partner at CoinFund, articulated the growing utility of these assets: “The natural next step for wealth onchain is to earn yield and to make your assets productive.” Despite concerns raised by traditional financial institutions regarding competition to bank deposits, Pakman contends that products offering yield on fiat currency are becoming an inevitability.
South Korea Poised to Launch Domestic Stablecoin
Following U.S. and global examples, South Korea is actively moving towards establishing its own regulated stablecoin infrastructure. Eight major South Korean banks are collaborating on a project to develop a won-backed central bank digital currency (CBDC) or stablecoin.
Bank of Korea deputy governor Ryoo Sangdai emphasized the regulatory drive aims to create a
This effort places South Korea in the company of nations actively exploring the issuance of fiat-backed digital assets.
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