JPMorgan Chase is preparing to deepen its push into blockchain-based finance through a tokenized money-market fund on Ethereum, according to a Wall Street Journal report published on Monday.

The bank has not formally announced the product, but the report suggests JPMorgan is moving closer to offering onchain versions of traditional cash-management tools as institutional interest in tokenization grows.

The reported initiative comes as large investors look for ways to deploy idle cash more efficiently while maintaining regulatory compliance.

With about $4 trillion in assets under management, JPMorgan’s reported plans highlight how tokenization is evolving from experimental pilots into investment products associated with major global balance sheets.

The proposed fund would enter a fast-growing segment of digital finance where money-market products are increasingly viewed as a bridge between traditional markets and blockchain infrastructure.

Tokenized money-market fund rollout

The fund, known as My OnChain Net Yield Fund, or MONY, has been seeded with $100 million from JPMorgan’s asset management division, the Wall Street Journal stated.

The product is expected to open to external, qualified investors this week, although no official confirmation has been issued by the bank.

The minimum investment is set at $1 million, keeping the fund focused on institutional participation rather than retail investors.

MONY is designed to operate in line with conventional money-market funds, holding short-term debt instruments and paying interest on a daily basis.

Investors would be able to redeem their shares either in cash or through Circle’s USDC stablecoin, reflecting the growing use of regulated stablecoins in institutional settlement and liquidity management.

Why Ethereum and tokenization matter

JPMorgan has built the reported fund on Kinexys Digital Assets, its in-house tokenization platform, with Ethereum selected as the underlying blockchain, according to the Wall Street Journal.

Tokenized funds record ownership onchain, allowing faster settlement, real-time visibility, and continuous trading beyond standard market hours.

These features are attracting attention from asset managers, trading firms, and treasury desks seeking operational efficiency while continuing to rely on low-risk instruments.

Tokenized money-market funds are also increasingly used within decentralised finance ecosystems as reserve assets and as collateral for trading and asset management.

Competition among financial giants

JPMorgan’s reported plans place it alongside other large financial institutions that have already launched tokenized money-market products.

Franklin Templeton introduced its BENJI fund in 2021, becoming one of the earliest traditional asset managers to adopt blockchain-based fund infrastructure.

BlackRock followed in 2024 with its BUIDL fund, developed with tokenization specialist Securitize, which has since attracted about $2 billion in assets, according to data from RWA.xyz.

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JPMorgan expands blockchain push with tokenized money-market fund on Ethereum

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Circle, the issuer of the USDC stablecoin, has announced the launch of its own layer-1 blockchain, Arc, even as it posted strong revenue growth alongside a hefty quarterly loss.

The move marks a major step in the company’s ambition to become a full-stack platform for digital finance, while also highlighting the financial challenges of its first earnings report since going public.

Circle’s Q2 revenue rises, but losses deepen

In its second-quarter 2025 results released Tuesday, Circle reported a 53% year-over-year increase in total revenue and reserve income, reaching $658 million.

The revenue growth was fueled by a surge in USDC adoption, expanding subscription service revenues, and increased activity across decentralised finance platforms.

Despite the revenue jump, Circle posted a $482 million net loss for the quarter.

The company attributed this to one-time, non-cash expenses linked to its blockbuster IPO earlier this year, including $424 million in stock-based compensation and a $167 million revaluation of convertible debt.

Adjusted EBITDA rose 52% to $126 million, showing operational strength despite the headline loss.

Arc Blockchain aims to redefine stablecoin finance

The company’s newly announced Arc blockchain will be compatible with the Ethereum Virtual Machine (EVM) and use USDC as its native gas token.

This means users will be able to pay transaction fees directly with the stablecoin, a move aimed at streamlining on-chain payments and lowering friction for institutional and retail users.

Arc is designed for high-performance financial applications, with sub-second settlement, an integrated stablecoin foreign exchange engine, and opt-in privacy controls.

Circle says the network will be fully integrated into its existing platform while remaining interoperable with the 24 other partner blockchains where USDC already operates.

USDC stablecoin market share keeps climbing

USDC’s market capitalisation stood at $65.6 billion at the time of the announcement, with $42.6 billion of that supply on Ethereum, according to a recent report by Circle.

Circle has revealed that USDC circulation grew 90% year-over-year to $61.3 billion by the end of Q2 and has since climbed further to $65.2 billion as of August 10.

We just reported our Q2 2025 earnings, our first as a publicly traded company.

USDC in circulation reached $61.3B at the end of Q2, up 90% YoY, with $5.9T in onchain volume during Q2.

Read the results here: https://t.co/a6fwiWoTNK pic.twitter.com/lgTOOTIEAq

— Circle (@circle) August 12, 2025

Adding to this momentum, Whale Alert recently flagged a $250 million USDC mint at the USDC Treasury.

Such large-scale issuance often points to increasing demand from both institutions and retail investors, injecting liquidity into exchanges and DeFi protocols.

This influx of capital can serve as a catalyst for trading activity and broader market growth.

Circle’s strategic positioning in a competitive sector

By launching Arc, Circle is positioning itself to capture more of the stablecoin-powered payments and capital markets segment.

The combination of its growing USDC supply and an in-house blockchain tailored for financial use cases could strengthen its influence in the global digital asset ecosystem.

The expansion also underscores Circle’s long-term bet that stablecoins will become a backbone of international finance.

With clear regulatory momentum in key jurisdictions and growing adoption of digital dollars, the company is seeking to leverage its brand trust and market presence into a deeper role in global transactions.

However, the sizable Q2 loss serves as a reminder of the costs of scaling in a competitive and highly regulated industry.

As Arc heads toward public testnet later this year, traders and institutions will be watching closely to see whether Circle can turn its strong revenue growth into sustained profitability, while cementing USDC’s position at the heart of digital finance.

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Circle unveils Arc Blockchain amid 53% revenue surge, $482M Q2 loss

Source: https://coinjournal.net/news/circle-unveils-arc-blockchain-amid-53-revenue-surge-482m-q2-loss/

Prominent digital asset investor Dan Tapiero is making a bold statement about the future of the crypto economy, merging his private equity firms 10T Holdings and 1RoundTable Partners under a new, ambitious brand: 50T.

This rebranding reflects his forecast that the digital asset ecosystem will explode in value to reach an astonishing $50 trillion within the next decade.

The announcement comes alongside the launch of a new $500 million fund and as one of the firm’s successful portfolio companies, Circle, faces new scrutiny from Wall Street after its recent meteoric stock market debut.

A natural evolution: from a $10 trillion to a $50 trillion thesis

The creation of the 50T brand is more than just a name change; it represents a significant upward revision of Tapiero’s long-term market outlook.

“50T is a natural evolution from our original thesis in 2020 when we launched 10T with the belief that the digital asset ecosystem would grow from $300 billion to $10 trillion in 10 years,” Tapiero explained in a Tuesday press release.

He noted that the market has far outpaced his initial projections. “Today, we estimate that we’re already at $5 trillion, far exceeding our initial timeline, which is why we’re adjusting our outlook upward,” he said.

Tapiero pointed to recent successes in the industry, such as the blockbuster IPO of stablecoin issuer Circle and the acquisition of crypto derivatives exchange Deribit by Coinbase, as clear evidence of the sector’s growing maturity.

“Recent successes like the Circle IPO and Deribit acquisition demonstrate the maturity of this sector and validate our investment thesis that all value will eventually move on-chain,” he stated.

Funds under what is now 50T were early investors in Circle, Deribit, and the digital trading platform eToro, which also recently went public.

The press release added that other portfolio companies are also gearing up to go public.

Coinciding with the rebrand, 50T is also launching a new $500 million growth equity fund, aptly named the 50T Fund.

It is a closed-end fund with a ten-year investment horizon, specifically designed to back later-stage companies that are building out the core infrastructure for blockchain and Web3.

The fund is planning its first close in the fourth quarter of 2025.

A reality check for circle: analyst downgrade hits surging stock

While 50T celebrated Circle’s IPO as a sign of market maturity, the stablecoin issuer’s stock (CRCL) faced a dose of Wall Street reality.

Shares of Circle, the public issuer of the USDC stablecoin, shrank by as much as 8% on July 22 after investment firm Compass Point downgraded the stock from “Hold” to “Sell.”

The downgrade was driven by valuation concerns and the prospect of increased competition in the digital asset market. At the time of the report, CRCL was trading at $199.24, down 7.80% for the day.

Compass Point also slashed its price target on Circle to $130, down from a previous target of $205, suggesting a significant pullback could be in the cards after the company’s spectacular post-IPO run. Since its launch on June 5, Circle’s stock has surged over 500%.

This incredible growth has been fueled by an energized market environment, partly spawned by the introduction of the GENIUS Act.

This legislation, signed into law by President Donald Trump, created a much more transparent regulatory framework for fiat-backed digital assets, legitimizing stablecoins and giving investors ample reason to be optimistic.

However, Compass Point analyst Ed Engel cautioned that this rally may be unwarranted. “Crypto investors often ‘sell the news’ following major legislative wins,” said Engel, as reported by TheStreet.

He added that CRCL has experienced such a dramatic run-up that a significant backtrack is possible. He also commented on the “inevitable margin pressure” that Circle will face from increased revenue-sharing payments to its distribution partners, as well as the incoming competition from traditional banks and fintech companies that are now establishing their own stablecoins.

Circle’s revenue is primarily derived from the interest earned on its short-term Treasury holdings that back the USDC stablecoin.

Analysts are also mindful that potential changes in the returns on these Treasuries, resulting from shifts in the Federal Reserve’s monetary policy, could impact the company’s bottom line.

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Analysis: Tapiero ups crypto forecast to $50T; Compass Point downgrades Circle on valuation

Source: https://coinjournal.net/news/analysis-tapiero-ups-crypto-forecast-to-50t-compass-point-downgrades-circle-on-valuation/

Solana is in the spotlight as altcoins rally with Bitcoin above the $120,000 zone after the US Congress passed the groundbreaking crypto bills.

Amidst the rallies, stablecoin issuer Circle has minted $500 million USDC on the Solana blockchain today.

The new injection has pushed the firm’s weekly mint to $1 billion USDCs, indicating intensified stablecoin activities on the SOL network.

Furthermore, Circle has minted USDC worth over $3 billion on the Solana blockchain since the start of July.

JUST IN: Circle has minted $500M USDC on Solana in the last 10 minutes, bringing total USDC minted on the network this July to $3B. pic.twitter.com/rnJnIvj0kd

— SolanaFloor (@SolanaFloor) July 17, 2025

That’s among the most aggressive stablecoin expansions the crypto platform has witnessed in 2025.

These developments underscore institutional trust in Solana’s infrastructure and future potential.

Meanwhile, the optimism is already reflected in SOL’s price action.

The native token hovers at a key level of $180, targeting swift rallies toward the sought-after $200.

Why increased stablecoin activities matter

Circles move to mine USDC worth billions of dollars on Solana is beyond a mere blockchain activity.

The move signals confidence in the network’s cost-friendly model and scalability.

While Ethereum still grapples with high gas fees and congestion, Solana offers ultra-low fees and near-instant transaction completion.

That makes it perfect for handling massive volumes of stablecoin transfers.

The USDC minting spree signals growing institutional trust in Solana’s capabilities.

To investors, traders, and developers, the development signals a growing ecosystem ripe to support stablecoin-centric growth.

It is no surprise that native SOL displays bullishness amidst USDC surges.

Liquidity plays a crucial role in blockchain’s overall health, and stablecoins ensure smooth undertakings, from interacting with DEXs to lending protocols.

More USDCs joining the network will enrich Solana’s throughput and demand, which in turn leads to price growth.

Also, the move reflects Circle’s expansion goals.

The company requires a blockchain that can handle massive real-world volumes as it braces for its IPO (initial public offering).

Will Solana’s battle-tested, cheap, and fast capabilities make it a perfect partner?

Solana price outlook

SOL trades at $180 after gaining more than 6% in the past 24 hours.

The current price places it at a key level.

A closing above $180 will likely catalyze smooth gains toward the psychological mark at $200.

Technical indicators support Solana’s upside stance.

The 1D Moving Average Convergence sways above the signal line, suggesting buyer control.

Also, the Chaikin Money Flow has remained elevated since July 14.

That confirms increased cash entering the SOL ecosystem as investors expect imminent rallies.

Bulls target the $188 zone, beyond which Solana can rally frictionlessly to $200.

Solana enthusiasts @splsamurai posted a chart highlighting SOL’s potential gains.

$SOL about to breach $180 resistance and teleport to $200 pic.twitter.com/fPjGV30s1S

— Samurai•SOL (@splsamurai) July 18, 2025

Continued broad market surges will support Solana’s stability above $180 to validate the bullish trajectory.

Altcoins display bullish strength as Bitcoin’s dominance dwindled after BTC’s rally to all-time highs last week.

Solana remains poised among the top alts to watch in the prevailing bull runs.

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SOL gains momentum as Circle’s USDC mints on Solana surpass $3B in July

Source: https://coinjournal.net/news/sol-gains-momentum-as-circles-usdc-mints-on-solana-surpass-3b-in-july/

This strong market reception is being interpreted as a significant indicator of the increasing acceptance and perceived legitimacy of stablecoin issuers within the broader financial landscape.

The stablecoin firm, along with some of its existing shareholders including co-founder and Chief Executive Officer Jeremy Allaire, sold a total of 34 million shares on Wednesday at a price of $31 each, according to a statement confirming an earlier Bloomberg News report.

This pricing gives Circle a market valuation of approximately $6.9 billion based on the outstanding shares detailed in its regulatory filings.

When accounting for employee stock options, restricted share units, and warrants, the company’s fully diluted valuation reaches about $8.1 billion.

The offering’s success was underscored by significant investor interest.

The upsized deal reportedly fielded demand for more than 25 times the number of shares available by the time orders closed on Tuesday, according to people familiar with the matter.

This overwhelming demand prompted Circle to increase the size and price of its IPO earlier in the week.

On Monday, the target for the offering was raised to 32 million shares at a price range of $27 to $28 per share, a notable increase from the initial plan to sell 24 million shares within a $24 to $26 price range, as indicated in its earlier filings.

In the final tally, Circle itself sold 14.8 million shares in the IPO, while the selling shareholders divested the remaining 19.2 million shares.

Regulatory tailwinds and growing institutional interest

Circle’s successful public offering comes at a pivotal time for stablecoins – digital tokens typically pegged to a fiat currency like the US dollar.

Legislation currently before the US Congress aims to regulate these assets, a development that many believe will confer greater legitimacy upon them and potentially pave the way for broader adoption.

However, this evolving regulatory landscape may also attract new and formidable competitors.

The Wall Street Journal reported last month that some of Wall Street’s largest banks are jointly exploring the possibility of issuing their own stablecoins.

Circle’s flagship product, USDC, held approximately 29% of the stablecoin market as of the end of March, according to data from CoinMarketCap cited in the company’s filing.

As of May 29, there was about $61 billion worth of USDC in circulation, according to information on Circle’s website.

The IPO has attracted notable institutional investors. ARK Investment Management, the technology-focused investment firm founded by Cathie Wood, expressed interest in purchasing as much as $150 million worth of shares in Circle’s IPO, according to the filing.

Furthermore, BlackRock Inc., the world’s largest asset manager, reportedly plans to acquire about 10% of the IPO shares, people familiar with the matter have said.

This interest is particularly significant given BlackRock’s existing relationship with Circle; BlackRock manages a government money market fund on Circle’s behalf, which holds 90% of the reserves backing its USDC stablecoin.

The Circle Reserve Fund reportedly had a balance of $53.3 billion as of May 29.

Circle’s journey to public markets

This IPO marks a significant milestone in Circle’s journey.

The company was valued at $7.7 billion after a funding round in 2022, according to data provider PitchBook.

Circle had initially filed confidentially for a listing in early 2024, more than a year after it had abandoned a previous attempt to go public through a merger with a blank-check company (SPAC).

That earlier SPAC deal would have valued the company at $9 billion.

The current IPO is being led by a consortium of Wall Street giants, including JPMorgan Chase & Co., Citigroup Inc., and Goldman Sachs Group Inc.

Circle’s shares are expected to begin trading on Thursday on the New York Stock Exchange under the ticker symbol CRCL.

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Circle raises $1.1 billion in upsized IPO, prices shares at $31

Source: https://coinjournal.net/news/circle-raises-1-1-billion-in-upsized-ipo-prices-shares-at-31/

Despite having filed for an initial public offering (IPO) last month, Circle Internet Financial, the company behind the USDC stablecoin, is reportedly engaged in discussions of a possible sale to either Coinbase Global or Ripple, as per a Fortune report, citing sources familiar with the matter.

The future of Circle’s IPO

While Circle remains committed to its IPO, it has not yet scheduled a roadshow or disclosed specific terms.

The company is believed to be targeting a valuation of at least $5 billion, whether through public markets or via a strategic buyout.

Behind the scenes, conversations with both Coinbase and Ripple about potential sales have reportedly gained momentum, pointing to the dual-track approach Circle appears to be pursuing.

Coinbase emerges as the most likely Circle buyer

Coinbase has emerged as the more likely acquirer, largely due to its close commercial ties with Circle and its influence over the governance of USDC.

The two companies co-founded the Centre Consortium in 2018 to launch the dollar-backed stablecoin, and although Centre was dissolved in 2023, the partnership’s legacy endures.

Following the consortium’s conclusion, Coinbase acquired an equity stake in Circle and retained significant operational leverage over the stablecoin issuer.

According to insiders, Coinbase’s influence over Circle includes rights related to insolvency scenarios and approval authority over any major distribution or partnership deals involving USDC revenue.

These terms, embedded in the existing agreement, suggest that Coinbase holds considerable sway over Circle’s strategic direction.

As a result, many in the industry believe Coinbase is the most logical buyer, especially considering its strong balance sheet and deep integration with Circle’s operations.

Financially, Coinbase is well-positioned to pursue such an acquisition.

With approximately $8 billion in cash reserves and the capacity to raise additional capital through public markets, the exchange has the firepower to make a competitive offer.

Additionally, Coinbase currently benefits from receiving 100% of the revenue generated by USDC held on its platform, making a full acquisition a potentially lucrative long-term move.

Ripple made a $4-5 billion offer

Ripple, on the other hand, is not out of the picture. Backed by a vast reserve of XRP tokens, valued at over $100 billion when including assets held in escrow, Ripple reportedly made an acquisition offer in the range of $4 billion to $5 billion.

However, that bid was ultimately turned down by Circle, which is aiming for a higher valuation.

Despite the rejection, Ripple’s strong capital reserves mean it could remain a contender should the terms become more favourable.

As Circle weighs its options, the decision will likely hinge on market conditions, investor appetite, and the comparative benefits of a public offering versus a private sale.

While the recent success of eToro’s public debut may offer encouragement for a Circle IPO, the strategic synergies of a sale, particularly to Coinbase, could prove too compelling to ignore.

The post Circle reportedly weighing sale to Coinbase or Ripple despite IPO plans appeared first on CoinJournal.

Circle reportedly weighing sale to Coinbase or Ripple despite IPO plans

Source: https://coinjournal.net/news/circle-reportedly-weighing-sale-to-coinbase-or-ripple-despite-ipo-plans/