Circle’s USDC Expansion in Japan, Square Enix’s NFT Game Launch, and dYdX’s Token Tsunami

Written by BTSE

November 27, 2023

Circle's USDC Expansion in Japan, Square Enix's NFT Game Launch, and dYdX's Token Tsunami

As the Asian business week kicked off, Bitcoin (BTC) briefly climbed back to US$37,700, only to fall again, trading at US$37,390, marking a 0.92% decrease over 24 hours at the time of writing. Ethereum (ETH) mirrored Bitcoin’s pattern, showing even more significant fluctuations, yet it maintained a position above US$2,000. At the time of writing, Ethereum was trading at US$2,057, down by 0.87% in the same period.


What to Watch Out for Today


1. Circle and SBI Holdings Enhancing USDC in Japan: Circle, the issuer of USD Coin (USDC), has partnered with Tokyo-based SBI Holdings to enhance the adoption of USDC in Japan. This strategic move follows Japan’s updated regulations for stablecoins and aims to accelerate Japan’s transition to a Web3 economy. SBI Holdings is seeking to register as an electronic payment service to facilitate USDC circulation, pending approval by Japanese authorities. The collaboration is seen as a milestone in Circle’s expansion into Asia, with SBI Shinsei Bank providing banking services for USDC access in Japan. What’s in it for you? If you’re into stablecoins or Asian markets, keep tabs on this alliance. 


2. Square Enix’s NFT Adventure: Square Enix, known for the “Final Fantasy” series, is launching an NFT auction for “Symbiogenesis,” their first Web3 game. What’s the twist? It’s built on Ethereum and Polygon, with a three-phase auction offering unique digital collectibles. A game with an evolving ending based on players’ NFTs – intriguing, right? Here’s your call, gamers and collectors: A chance to shape a game’s outcome and bag some rare digital art. 


3. dYdX’s Massive Token Unlock: dYdX is about to flood the market with $500 million worth of tokens. Why now? A strategic move after a delay, following a price surge announcement. Other players like Optimism and 1inch are joining the unlock bandwagon. What does this mean for you? If you’re tracking crypto markets, this could be a critical moment. Will these unlocks shake up the token market? Stay sharp and watch for market reactions. 


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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

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