The article discusses the achievements of USDC on Ethereum, new regulations in Hong Kong, and strategic partnerships contributing to the development of digital assets.
Record USDC Volume on Ethereum
According to Token Terminal data, the volume of USDC transactions on the Ethereum network reached an all-time high of $748.3 billion in July 2025. This represents a 300% increase from January 2024 lows and involved 8.3 million transactions. Experts point out that such volume competes with traditional banking systems, highlighting USDC's liquidity and extensive use in the stablecoin market.
Introduction of Basel Regulations in Hong Kong
The Hong Kong Monetary Authority (HKMA) announced that it will fully implement the Basel Committee's crypto asset capital rules starting January 1, 2026. This means that assets on permissioned blockchains may face up to 1250% risk weights, requiring banks to hold capital equal to their risk exposure. Such a high capital requirement could dampen banks' interest in holding crypto assets.
SBI and Chainlink Partnership
SBI Group announced a strategic partnership with Chainlink to accelerate blockchain and digital asset adoption in global financial markets, focusing on Japan and the Asia-Pacific region. Key use cases include cross-chain tokenized real-world assets, such as real estate and bonds. The partnership aims to enhance liquidity and efficiency while supporting the transparency of stablecoins through Chainlink.
The growth in USDC transaction volumes and the introduction of new regulatory frameworks in Hong Kong highlight the importance and increasing influence of stablecoins in financial markets. The SBI and Chainlink partnership also represents a significant step in bridging traditional finance and blockchain technology.
