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Updated: September 22, 2026, 09:30 (UTC+8) | Author: MEXC Headlines SEC establishes five-year framework for tokenized stock trading ECB plans to invest in euro-denominated tokenized securities CircleUpdated: September 22, 2026, 09:30 (UTC+8) | Author: MEXC Headlines SEC establishes five-year framework for tokenized stock trading ECB plans to invest in euro-denominated tokenized securities Circle
Learn/Daily & Weekly Reports/On-Chain Daily/MEXC On-Chain Daily Report: Circle Launches Institutional Bitcoin-Backed Borrowing Service

MEXC On-Chain Daily Report: Circle Launches Institutional Bitcoin-Backed Borrowing Service

Intermediate
Oct 28, 2026MEXC
8 min
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Updated: September 22, 2026, 09:30 (UTC+8) | Author: MEXC

Headlines

  • SEC establishes five-year framework for tokenized stock trading
  • ECB plans to invest in euro-denominated tokenized securities
  • Circle launches institutional Bitcoin-backed borrowing service
  • Ondo enables in-kind conversion between stocks and tokenized assets
  • Hyperliquid launches Bitcoin volatility index perpetual contract

Industry Updates

U.S. Senate Fails to Advance the CLARITY Act, Stablecoin Platform Reward Policies Remain Primarily Under SEC and CFTC Oversight

According to Odaily Planet Daily, after the U.S. Senate failed to advance the CLARITY Act, U.S. crypto policy continues to rely largely on the existing regulatory authorities of the SEC and CFTC. There is still no clear legislative framework determining whether stablecoin platforms may offer rewards that could compete with bank deposits. Meanwhile, the banking industry continues to push back against potential competition between stablecoin rewards and traditional deposits, while markets with relatively clearer regulatory frameworks, including the UAE, are actively attracting crypto companies, talent, and capital. The next phase of U.S. crypto regulation will depend on further coordination between administrative rulemaking and congressional legislation.

Hyperliquid Market Capitalization Surpasses Nasdaq and London Stock Exchange

According to Odaily Planet Daily, Hyperliquid’s market capitalization has surpassed that of Nasdaq and the London Stock Exchange, reflecting stronger market valuations for on-chain derivatives platforms and their broader ecosystems. Hyperliquid has continued expanding its perpetual futures, spot trading, and third-party market infrastructure while attracting significant attention through on-chain activity and protocol revenue. However, comparisons with traditional exchanges primarily reflect valuation differences, as Hyperliquid’s business model, revenue structure, and regulatory environment remain materially different from those of conventional securities market infrastructure providers.

Spaces Launches Trust Anchor, Allowing Applications to Verify Human-Readable Identities Through Bitcoin

According to Odaily Planet Daily, Spaces has launched “Trust Anchor,” allowing applications to verify human-readable identities directly through Bitcoin without relying on centralized servers. Users can generate a single Trust ID and use it within Spaces-compatible applications to verify identities such as alice@bitcoin. The Trust ID is generated from the Bitcoin blockchain and accumulated Spaces state. The Veritas application on macOS can generate the identity information without requiring a full Bitcoin node, while users can also connect their own node or use the Spaces client to produce the same verification result.

Russian Crypto Industry Could Operate Legally by End of 2026 as Central Bank Says Regulation Is Progressing as Planned

According to Odaily Planet Daily, Russian central bank deputy governor Chistyukhin said the country’s crypto industry could gain the conditions necessary for legal operation by the end of 2026, with secondary regulatory rules currently being developed as planned. Russia has already established a framework governing digital currencies and digital rights and allows the public to trade Bitcoin through licensed exchanges, while Bitcoin payments remain restricted. Russia’s largest bank, Sberbank, also plans to launch Bitcoin and crypto wallets and digital asset custody services in December, indicating that the local banking system is gradually building infrastructure for regulated crypto services.

Robinhood CEO Expects Crypto Prediction Contracts to Overtake Traditional Sports Betting in the Coming Years

According to Odaily Planet Daily, Robinhood CEO Vlad Tenev said crypto-related prediction contracts are taking an increasingly larger share of Robinhood’s prediction market activity and expects sports contracts to potentially become a minority category over the next several years. Robinhood’s event contract revenue increased more than tenfold year over year to $156 million in the second quarter of 2026, while contract trading activity reached 4.7 billion transactions in August, around 15 times the level recorded in the same period of 2025. Robinhood currently builds much of its prediction market offering on Kalshi and is further expanding the business through Rothera, its joint venture with Susquehanna.

X-Agent Releases New Whitepaper, Aiming to Move AI From “Content Generation” to “Execution and Transactions”

According to Odaily Planet Daily, on-chain AI Agent operating system X-Agent has released a new whitepaper covering its product architecture, MCP ecosystem, business model, and $XAGT use cases. X-Agent allows users to create AI Agents through natural language with contextual awareness, memory, skills, APIs, and wallet connectivity, while attempting to connect Agent creation, capability integration, distribution, payments, and monetization within a single workflow. The project says it now has more than 1 million registered users, has completed over 1.1 million autonomous tasks, and has consumed more than 84 billion LLM tokens.

South Africa Proposes Bringing Crypto Assets Under Foreign Exchange Controls, With at Least $135 Million in Transactions Paused

According to Odaily Planet Daily, South Africa’s proposed regulatory reforms would bring crypto assets under the country’s foreign exchange control regime and restrict their use in certain cross-border transactions. At least three transactions worth a combined approximately $135 million have already been paused, including an investment involving a private equity firm. The South African government plans to update the Currency and Exchanges Act to strengthen monitoring of cross-border capital flows and reduce regulatory arbitrage and illicit fund movements. The rules remain in draft form, with public consultation continuing through September 30.

USDD Market Cap Posts Strong Growth Over the Past Seven Days, With Daily Increase Peaking at $12.8 Million

According to Odaily Planet Daily, RWA Foundation data citing Token Terminal shows that decentralized stablecoin USDD recorded notable supply growth over the past week. On September 20 alone, its market capitalization increased by $12.8 million, ranking behind only Ethena and StablR among stablecoin issuers. USDD’s circulating supply currently stands at $1.54 billion, placing it 10th among all stablecoins, while protocol TVL is approximately $2.29 billion. The recent expansion indicates renewed demand for some decentralized stablecoins, although the sustainability of the additional supply remains a key factor to monitor.

PancakeSwap’s First Pre-Access Project pPOLY Sells Out Shortly After Subscription Opens

According to Odaily Planet Daily, PancakeSwap’s first Pre-Access project, pPOLY, sold out shortly after subscriptions opened at 17:00 Beijing time on September 21. A total of 309,677.42 pPOLY tokens were offered at a subscription price of $15.5 each, bringing the total offering size to approximately $4.8 million and implying a valuation of $15.5 billion. The rapid sellout reflects continued market interest in early-stage asset issuance and Pre-Access mechanisms, while the high implied valuation also means participants may need to closely monitor subsequent liquidity, token unlock arrangements, and market price discovery.

Hana Bank Issues $100 Million Five-Year Digital Bond Using Euroclear Blockchain Infrastructure

According to Odaily Planet Daily, South Korea’s Hana Bank has issued a $100 million, five-year foreign-currency digital bond directly through Euroclear’s digital financial market infrastructure for issuance, registration, and settlement. It is the first Korean digital bond to directly use Euroclear’s blockchain infrastructure. Bond allocation and payment settlement, which traditionally take three to five business days, can now be completed on the same day. Investors can continue using existing accounts and trading systems to access the bond through Euroclear’s global settlement network, lowering operational barriers for traditional institutions entering blockchain-based securities infrastructure.

MEXC Market Heatmap

Data Note: Based on real-time MEXC market data recorded before 09:30 (UTC+8). Figures may subsequently change with market fluctuations.

Top 24H Gainers: MINT/USDT (+3,413.60%), MODA/USDT (+139.16%), DELTA/USDT (+31.89%)
Top 24H Trading Volume: BTC/USDT (1.055B), ETH/USDT (739.440M), SOL/USDT (161.134M)
Trending Meme Tokens: MUSEBOOK/USDT, STRATTON/USDT, BNBCAT/USDT

On-Chain Calendar

  • Limitless Exchange/USDT [Sep 22, 03:20] Unlocks $587,756.25 USDT, equivalent to 9.62% of circulating supply, with high short-term sell pressure
  • TON/USDT [Sep 23, 03:20] Unlocks $50.26m USDT, equivalent to 1.31% of circulating supply, with medium short-term sell pressure
  • Humanity/USDT [Sep 23, 21:16] Unlocks $23.15m USDT, equivalent to 14.69% of circulating supply, with high short-term sell pressure

Key Macro Events

  • Sep 22, 03:00 — Australia | RBA | Hunter Speech [Policy signals may affect AUD rate expectations and capital flows]
  • Sep 22, 14:00 — Saudi Arabia | Construction Cost Index [Cost changes may affect inflation expectations and domestic rate pricing]
  • Sep 22, 19:00 — Brazil | Central Bank of Brazil | Copom Meeting Minutes [Policy guidance may affect BRL rate differentials and capital allocation]
  • Sep 22, 20:15 — United States | ADP | Weekly Employment Change [Labor conditions may affect Fed rate expectations and the U.S. dollar]
  • Sep 22, 22:05 — United States | Federal Reserve | Williams Speech [Policy signals may affect Treasury yields and risk-asset pricing]
  • Sep 22, 22:10 — European Union | ECB | Buch Speech [Policy guidance may affect euro rate expectations and capital flows]
  • Sep 22, 22:20 — United States | Federal Reserve | Jefferson Speech [Rate-path expectations may affect dollar liquidity and risk assets]

Security Alert

Users should remain alert to malware attacks disguised as recruitment, remote interviews, and technical assessments. The FBI recently warned that attackers linked to “WaterPlum” have been targeting IT professionals and job seekers through fake recruitment processes that trick victims into running malicious code, potentially resulting in the theft of sensitive information and crypto assets. Victims have reportedly been identified across the United States, Japan, Europe, and other regions. Users should not directly run code repositories, test programs, browser extensions, or installers sent by unfamiliar recruiters on devices that store wallets or private keys. Verify company domains and recruiter identities independently, use isolated environments for technical tests, and avoid storing seed phrases, private keys, or logged-in wallet extensions on devices used for recruitment assessments.

MEXC Chain Observation Daily, updated daily, strives to provide professional, timely, and in-depth market analysis for cryptocurrency practitioners. Welcome to share and subscribe.
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