Upbit Adds B3 Korean Won Pair as Base Token Gains Direct Korea Access
South Korea’s leading exchange, Upbit, has launched a B3/KRW trading pair, providing one of the world’s most active retail markets with direct access to the Base-linked Layer-3 token.
South Korean trading giant Upbit has officially expanded its digital asset offerings by adding a Korean Won (KRW) trading pair for B3, a Layer-3 blockchain built on the Base network. The listing, which went live on May 7, 2026, marks a significant milestone for the Base ecosystem, granting a high-utility “Superchain” project direct access to one of Asia’s most liquidity-dense retail markets.
To ensure market stability during the debut, Upbit implemented several strategic safeguards. Trading was slightly delayed to 14:00 KST to allow for adequate liquidity build-up. Additionally, the exchange applied early order restrictions, including a five-minute block on buy orders and limitations on non-limit order types for the first two hours of trading.
The B3 listing is technically significant as it exclusively supports the Base network for deposits and withdrawals. This move reinforces the growing synergy between South Korean infrastructure and the OP Stack. Earlier this week, Upbit announced a partnership with Optimism to launch GIWA Chain, its own Ethereum Layer-2 network. While B3 is a separate entity, its presence in the KRW market highlights Upbit’s commitment to fostering a “Superchain” environment where Base-linked projects can thrive alongside the exchange’s own decentralized infrastructure.
By listing B3, Upbit is effectively betting on the long-term utility of Layer-3 solutions, blockchains designed for hyper-specific applications that settle on Layer-2s like Base. For the B3 project, the listing provides not just capital, but a direct gateway to a sophisticated investor base that has historically driven some of the highest trading volumes in the global crypto industry.
The crypto rally hit a pit stop on May 7 as global equities surged to record highs, fueled by reports of a potential US-Iran peace deal and easing energy concerns.
By Andrew Collins | Edited by Julia Sakovich
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As the geopolitical fear premium fades, capital is rotating from crypto hedges back into record-breaking global equity markets. Photo: Pexels
The aggressive crypto rally of early May took a calculated breather on Thursday, May 7, 2026. While the “risk-on” appetite remains high, it has shifted its focus toward global equities, which surged to fresh records on growing optimism surrounding a US-Iran ceasefire. Bitcoin (BTC) slipped slightly below the $81,000 mark, while Dogecoin (DOGE) led the retreat among majors, sliding 4.4% to $0.1106 after its recent double-digit run.
Equities Rip as Geopolitical Tensions Ease
The pause in the crypto sprint coincided with a massive rally in traditional markets. Reports indicating that the US and Iran are finalizing a proposal to end a 10-week conflict sent the MSCI All Country World Index to an all-time high. In Asia, the Nikkei 225 hit intraday records, while South Korea officially surpassed Canada to become the world’s seventh-largest equity market by value.
The diplomatic breakthrough has also cooled the energy sector. Brent crude held steady under $102 a barrel, as traders speculated that a deal would restore reliable oil shipments through the critical Strait of Hormuz. Meanwhile, gold continued its climb toward $4,700 an ounce, bolstered by cooling inflation expectations and bets on imminent Fed rate cuts.
200-Day Moving Average Test
Technical analysts view the current crypto pullback as a healthy consolidation phase before a major structural test. Alex Kuptsikevich, chief market analyst at FxPro, highlighted that Bitcoin’s next significant hurdle is the 200-day moving average (DMA), currently sitting near $83,300.
“A firm consolidation above this level would be a definitive sign of bullish dominance,” Kuptsikevich noted, suggesting that short-term profit-taking near $83,000 is to be expected. Traders are watching this level closely. Clearing it would effectively turn the 2026 relief rally into a sustained long-term uptrend.
Institutional Rails and Onchain Liquidity
Despite the daily price dip, the structural backdrop for digital assets remains historically strong. Tether (USDT) has seen its market cap expand by $5.9 billion over the last 60 days, signaling a massive influx of “dry powder” ready to enter the market.
Adding to the momentum, Western Union officially launched its own stablecoin, USDPT, on the Solana network this week. The move is designed to bypass the multi-day delays of traditional interbank settlement, further validating Solana as a primary rail for global payments. Simultaneously, Morgan Stanley signaled a shifting regulatory tide, hinting that US banks may soon hold Bitcoin directly on their balance sheets. It is a move that would have been unthinkable just two years ago.
With BitMine continuing to stack Ether, adding another 100,000 ETH to its now $13 billion reserve, the “smart money” seems to be using this pause to accumulate rather than exit.
Bithumb Joins Vietnam’s High-Stakes Crypto License Race via SSI Digital Partnership
South Korean exchange Bithumb is pivoting toward Southeast Asia, partnering with Vietnam’s largest brokerage to navigate a restrictive new pilot program for digital asset trading.
By Emily Carter | Edited by Julia Sakovich
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3 mins readBithumb's move into Hanoi signals a strategic shift as the exchange faces regulatory hurdles and a delayed IPO in its home market of South Korea. Photo: Pexels
Seeking to outpace domestic stagnation and regulatory hurdles in South Korea, Bithumb has officially entered the race for a digital asset license in Vietnam. On May 7, 2026, the exchange announced a memorandum of understanding (MOU) with SSI Digital (SSID), a subsidiary of Vietnam’s largest brokerage, SSI Securities. The partnership aims to establish a licensed trading platform under Vietnam’s rigorous new pilot framework, marking a significant expansion for the Korean giant into one of the world’s most active crypto markets.
Vietnam’s five-year digital asset pilot, which was unveiled in September 2025, has set a high bar for entry. To qualify for a license, exchange operators must be Vietnamese entities with a minimum charter capital of 10 trillion dong (approximately $380 million). Additionally, foreign ownership is strictly capped at 49%.
By partnering with a subsidiary of SSI Securities, Bithumb gains a powerful local ally capable of meeting these capital requirements. The collaboration is expected to span exchange technology, custody systems, and institutional business development. While Bithumb is considering a strategic equity investment in an SSID-designated entity, any final move remains subject to Hanoi’s approval. Vietnam, which ranked fourth in global crypto adoption last year, represents a vital frontier for Bithumb as it looks to diversify its revenue streams.
Crowded Field of Institutional Contenders
Bithumb is far from alone in its pursuit. The competition for Vietnam’s first set of licenses is intensifying, with five major firms already clearing initial qualification rounds. Notable rivals include affiliates of Techcombank, LPBank, and the conglomerate Sun Group.
Perhaps the most formidable competitor is CAEX, a venture linked to VPBank that secured backing from OKX Ventures and HashKey Capital in April. These alliances underscore a growing trend in the region: global crypto expertise merging with local banking powerhouses to satisfy the high capital and compliance standards of Southeast Asian regulators.
Escaping South Korean Headwinds
The move to Vietnam comes at a critical time for Bithumb. In Seoul, the exchange has been plagued by operational errors and regulatory friction. Most notably, Bithumb was forced to delay its initial public offering (IPO) until after 2028 following a high-profile blunder in early 2026, where the exchange mistakenly credited users with 620,000 BTC instead of 620,000 won during a promotion.
The error briefly created $40 billion in ghost balances and triggered market volatility. While 99.7% of the funds were recovered, the incident prompted the Bank of Korea to float the idea of “crypto circuit breakers” and led to intense scrutiny of Bithumb’s internal controls. Success in Hanoi could provide Bithumb with the reputational and financial reset it needs as it retools its accounting policies back home.
Emily Carter reports on cryptocurrency regulation, policy frameworks, and government oversight shaping the global digital asset industry. Her work examines how legislation, enforcement actions, and international regulatory coordination affect exchanges, stablecoins, and crypto investment products. She frequently analyzes the implications of new policies for institutional adoption and market stability. Based in Brussels, Emily follows regulatory developments across Europe, the United States, and Asia.
Ondo, JPMorgan, Mastercard, Ripple Execute First Cross-Bank Tokenized Treasury Redemption
A historic pilot has successfully linked the XRP Ledger with JPMorgan’s Kinexys and the Mastercard Multi-Token Network to settle tokenized US Treasuries across borders in real time.
By Matthew Clarke | Edited by Julia Sakovich
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The successful pilot marks the first time public blockchain assets have triggered near-instant settlement via traditional interbank rails outside of banking hours. Photo: Pexels
In a move that signals the end of the “9-to-5” era for global finance, Ondo Finance, Kinexys by JP Morgan, Mastercard, and Ripple have successfully completed the first-ever near real-time, cross-border redemption of tokenized US Treasuries. Announced on May 7, 2026, the pilot marks a critical breakthrough in Real-World Asset (RWA) infrastructure, proving that public blockchains and traditional interbank settlement rails can function as a single, unified flow.
Bridging the Public-Private Divide
Until now, the “redemption” phase of tokenized assets has been a significant bottleneck. While an investor could buy a tokenized treasury bond in seconds on a blockchain, getting the actual fiat cash back into a bank account often required manual wire transfers, traditional bank operating hours, and days of waiting.
This pilot fundamentally rewrites that script. The transaction involved Ripple redeeming its holdings of Ondo Short-Term US Government Treasuries (OUSG) on the XRP Ledger (XRPL). This action on a public blockchain automatically triggered a chain of events across private bank infrastructure:
Ripple initiated the redemption on the XRPL, with the ledger processing the asset movement in under five seconds.
The Mastercard Multi-Token Network (MTN) acted as the interoperability layer, routing the settlement instruction to JPMorgan.
Kinexys by JPMorgan debited Ondo’s blockchain deposit account and settled US dollar proceeds to Ripple’s bank account in Singapore via its correspondent banking network.
24/7 Global Markets That Never Close
The most significant aspect of this transaction was that it occurred outside traditional banking cut-off windows. By using Kinexys, JPMorgan’s specialized blockchain infrastructure, the settlement was not beholden to the operating hours of the Federal Reserve’s wire system or regional central banks.
“This milestone represents the first time tokenized US Treasuries have settled across borders and banks in near real time and outside traditional banking windows,” said Ian De Bode, President of Ondo Finance. The architecture is designed to be chain-agnostic, meaning it could eventually support redemptions from any public blockchain where OUSG is issued, creating a “plug-and-play” model for institutional onchain commerce.
Shift to Scale
The success of the pilot reflects a shifting focus in the industry: from simply tokenizing an asset to ensuring it can move at scale. Markus Infanger, SVP of RippleX, noted that the XRP Ledger’s speed is effectively neutralized if the fiat leg of the trade takes 48 hours to arrive. By pairing the XRPL with Mastercard and JPMorgan, the institutions have created a single, integrated flow that meets the compliance and speed requirements of the world’s largest banks.
As Raj Dhamodharan of Mastercard explained, the goal is to enable settlement “using existing bank accounts,” bringing the benefits of blockchain (transparency, speed, and 24/7 access) to the existing $100 trillion global financial system without requiring a total rip-and-replace of current banking relationships.
BNY Joins Abu Dhabi Partners to Launch Institutional Crypto Custody in UAE
The world’s largest custodian, BNY, is expanding its digital footprint into the Middle East, partnering with Finstreet and ADI Foundation to offer regulated Bitcoin and Ether custody.
By David Walker | Edited by Julia Sakovich
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BNY's expansion into the UAE highlights the region's growing status as a regulated hub for institutional digital asset management. Photo: Pexels
In a landmark move for Middle Eastern finance, BNY has officially entered the United Arab Emirates’ digital asset market. Announced on Thursday, May 7, 2026, the world’s largest custodian has partnered with Abu Dhabi-based Finstreet and the ADI Foundation to provide regulated, institutional-grade custody services for Bitcoin and Ethereum.
BNY Partners with Finstreet and ADI Foundation
The collaboration marks BNY’s debut as the first US global systemically important bank (G-SIB) to offer digital asset custody in the UAE. Operating out of the Abu Dhabi Global Market (ADGM), the initiative initially targets Finstreet’s existing institutional clients. By leveraging BNY’s global asset-servicing expertise alongside Finstreet’s digital market ecosystem, the partners aim to provide a “fully localized” custody stack that bridges traditional finance with the digital future.
“BNY is uniquely positioned to connect traditional and digital financial ecosystems,” stated Hani Kablawi, Executive Vice Chair at BNY. The bank currently oversees a staggering $59.4 trillion in assets under custody, lending massive institutional weight to the UAE’s burgeoning blockchain sector.
Rise of ADI Chain and Regulated Stablecoins
Central to this new infrastructure is the ADI Chain, an institutional Layer 2 blockchain developed by the ADI Foundation. The network is already home to DDSC, a dirham-backed stablecoin licensed by the Central Bank of the UAE and initiated by International Holding Company (IHC) and First Abu Dhabi Bank (FAB).
Further diversifying the ecosystem, PUSD, a Shariah-compliant stablecoin backed by a 1:1 reserve of Saudi riyals and UAE dirhams, is also being deployed on ADI Chain. This integration targets the $3 trillion Islamic finance market, offering a compliant path for Middle Eastern institutions to settle high-value transactions with near-instant finality.
Hub for Global Institutional Alliances
The BNY partnership follows a series of high-profile memoranda of understanding (MoUs) secured by the ADI Foundation in late 2025. Industry giants BlackRock, Mastercard, and Franklin Templeton have all signed agreements to explore tokenized asset settlement and cross-border payment rails on the ADI Chain.
These alliances validate the UAE’s “compliance-first” approach. By offering a transparent, regulated environment on Al Maryah Island, Abu Dhabi is successfully attracting global capital that has remained wary of the regulatory “gray areas” prevalent in other jurisdictions.
Building the AED-USD Conversion Rail
While BNY focuses on custody, other local players are smoothing the path for liquidity. AE Coin and USD Universal announced they are developing a regulated conversion rail. This system, powered by Al Maryah Community Bank, allows for near-instant exchange between the dirham-pegged AE Coin and the dollar-backed USDU.
Targeting treasury management and cross-border payments, this rail provides institutional users with a tightly supervised “on-ramp” and “off-ramp” for their digital operations. As the UAE continues to roll out blockchain-based business IDs and AI-driven workflows, the integration of global custodians like BNY suggests that the transition to a blockchain-native economy is no longer a pilot project, but a national standard.
VanEck’s Matthew Sigel Predicts Bitcoin at $1M by 2031, Citing Video Game Adoption Model
Bitcoin could reach a seven-figure valuation within five years as young investors and central banks drive a mega-trend similar to the global rise of the gaming industry.
By Michael Turner | Edited by Julia Sakovich
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As Bitcoin holds steady above $81,000, analysts are looking toward a $1 million milestone fueled by institutional and demographic tailwinds. Photo: Pexels
In a bold projection that underscores the growing institutional conviction in digital assets, Matthew Sigel, VanEck’s Head of Digital Assets Research, told CNBC that Bitcoin (BTC) could hit the $1 million mark within the next five years. While the target remains a massive leap from the current trading price of approximately $81,000, Sigel argues that a “mega-trend” involving demographic shifts and sovereign adoption is just beginning to accelerate.
Gaming Analogy: Generational Stickiness
Sigel’s rationale for the seven-figure price tag hinges on a comparison to the evolution of the video game industry. He noted that much like gaming, which transitioned from a niche hobby for children to a global cultural powerhouse embraced by tech titans like Elon Musk, Bitcoin is undergoing a generational lock-in.
“People don’t quit [playing video games]; they also don’t quit Bitcoin,” Sigel explained. He suggested that the “sticky” nature of the asset among younger investors, who increasingly view BTC as a primary savings vehicle, creates a supply-demand imbalance that traditional models struggle to capture. In this view, Bitcoin isn’t just a financial instrument; it is a lifestyle and a technological standard that users carry with them as they gain wealth and influence.
Central Banks and the Path to $1 Million
The road to $1 million requires more than just retail enthusiasm; it requires the entry of the world’s largest balance sheets. Sigel pointed out that we have already seen the “first central bank buying Bitcoin for its reserves,” a trend he expects to broaden as nations seek to diversify away from traditional reserve currencies.
To reach Sigel’s target from the current $81,000 handle, Bitcoin would need to maintain a staggering compound annual growth rate (CAGR) of 65.3%.
While such an annual return for five consecutive years is historically high for traditional assets, it is not outside the realm of possibility for Bitcoin’s high-volatility cycles, which have seen multi-hundred-percent gains in shorter timeframes.
Growing Chorus of Seven-Figure Bulls
Sigel isn’t the only one eyeing a million-dollar Bitcoin. He joins a growing list of heavy hitters, including Eric Trump, who recently predicted Bitcoin would surpass $1 million, and Bitwise CIO Matt Hougan. Even VanEck’s own CEO, Jan van Eck, previously set a $300,000 price target in 2024, a figure that now seems conservative in the context of the current 2026 rally.
However, analysts remind investors that many of these bulls have significant skin in the game. With firms like VanEck and the Trump-affiliated American Bitcoin directly benefiting from rising prices, the road to $1 million remains paved with extreme volatility and regulatory hurdles. As Sigel himself noted, the mega-trend is intact, but the journey will be anything but a straight line.
