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    Crypto Compass
    60 min read

    Crypto Compass - Week 1

    Resume

    CFTC Chair Warns of Crypto Gaps, Venezuelans Ditching Dollars for Crypto, Bhutan adds crypto to strategic reserves

    📈 Global Crypto Market and Institutional Developments

    • Standard Chartered Launches Crypto Custody in EU: Standard Chartered has obtained a license in Luxembourg, enabling it to offer cryptocurrency custody services across the European Union. This move underscores the growing demand for secure crypto storage solutions within regulated frameworks. Read more.
    • JPMorgan Eyes Euro Stablecoins Amid MiCA Rollout: As Europe's MiCA regulations take effect, JPMorgan has shown interest in exploring euro-denominated stablecoins. The bank's engagement signals a shift toward greater integration of crypto into traditional finance. Read more.
    • Bhutan Adds Bitcoin, Ethereum to Strategic Reserves: Bhutan's central bank revealed holdings in Bitcoin, Ethereum, and Binance Coin as part of its foreign reserves strategy. The move aims at diversifying assets and strengthening economic resilience. Read more.
    • South Korea Moves to Lift Institutional Crypto Trading Ban: Authorities in South Korea are reportedly considering removing restrictions on institutional cryptocurrency trading. The policy shift is expected to boost market confidence and institutional adoption. Read more.
    • Swiss Legislator Advocates Bitcoin Constitutional Inclusion: A Swiss lawmaker is pushing for a referendum to embed Bitcoin in the nation's constitution, aiming to bolster Switzerland’s position as a crypto-friendly hub. Read more.

    🌍 Geopolitical and Regulatory Trends

    • IMF Urges Kenya to Clarify Crypto Regulations: The International Monetary Fund has encouraged Kenya to implement clear guidelines for digital assets to combat money laundering and terrorism financing risks. Read more.
    • China Tightens Crypto Oversight Amid New Forex Rules: New regulatory measures are being enforced in China, targeting foreign exchange transactions related to crypto. This reflects ongoing scrutiny of the digital asset sector. Read more.
    • Guangzhou Expands Digital Yuan Pilot Program: The Chinese city of Guangzhou is accelerating its efforts to integrate the digital yuan into the local economy as part of its 2025 blockchain action plan. Read more.
    • Hong Kong Pushes Blockchain Banking Initiative: Authorities in Hong Kong have launched a project aimed at enhancing blockchain adoption in the banking sector to drive financial innovation. Read more.

    🛠 Technology Adoption and Strategic Innovations

    • Revolut Taps Pyth Network for Real-Time Banking Data: Digital banking giant Revolut is leveraging the decentralized oracle platform Pyth Network to enhance its real-time financial data offerings. Read more.
    • OCBC Launches Tokenized Bonds for Investors: Singapore-based OCBC Bank introduced tokenized bonds for corporate investors, highlighting increased blockchain adoption in traditional finance. Read more.
    • BlackRock-Backed BUIDL Token Approved for Stablecoin Use: BlackRock’s BUIDL token is now an approved asset backing Frax Finance's FRxUSD stablecoin, showcasing growing institutional involvement in DeFi. Read more.

    🌎 Regional Crypto Adoption and Economic Shifts

    • Thailand Pilots Crypto Payments in Phuket: Thailand's government is testing cryptocurrency payment systems in tourist-heavy areas like Phuket as part of efforts to modernize its tourism economy. Read more.
    • Portugal’s Big Bank Halts Crypto Transfers: A leading Portuguese bank reportedly stopped facilitating transfers to crypto platforms, reflecting potential regulatory pressures in the nation. Read more.
    • El Salvador Holds Over 6,000 Bitcoin: El Salvador continues to solidify its Bitcoin adoption strategy, becoming the sixth country to amass over 6,000 BTC as a national reserve. Read more.
    • Venezuelans Ditching Dollars for Crypto: Amid economic turmoil, Venezuelans are increasingly turning to cryptocurrencies as alternatives to the US dollar for everyday transactions. Read more.
    • Syria Considers Bitcoin Legalization: Syrian authorities are evaluating potential legal frameworks for Bitcoin, signaling openness to crypto integration despite geopolitical challenges. Read more.

    ⚖️ Regulatory Leadership and Market Challenges

    • CFTC Chair Resigns, Warns of Crypto Market Gaps: The outgoing chair of the US Commodity Futures Trading Commission highlighted vulnerabilities in crypto regulation during his departure announcement. Read more.
    • MiCA's Impact on Tether and EU Market Dynamics: Europe's MiCA regulations are challenging stablecoin issuer Tether, potentially reshaping the region’s crypto landscape. Read more.
    Axel Cateland
    Ceo & Founder
    Get in touch

    A Columbia Business School grad, Axel previously spearheaded market growth for digital payments at Mastercard.He then led the banking team at Spendesk, a $300M+ funded fintech.

    He's now bringing that digital payment and banking expertise to the crypto industry with Kulipa.

    Explore the new
    Payment rails

    Insights on how stablecoins are upgrading the banking stack for speed, reach, and efficiency.

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    Deep Dive

    Authentication in blockchains - a layman’s guide

    As the blockchain ecosystem matures, better and more diversified ways of authenticating for blockchain transactions have emerged. This can be quite overwhelming to newcomers, and so this post aims to put order in the following terms: EOA/ MPC/ Account abstraction/ Paymaster/ Relay/ Key abstraction

    Regulatory Radar

    Regulatory Radar #4

    Welcome to Kulipa's Regulatory Radar #4! In this Regulatory Radar, the third of our dedicated series on US digital asset developments, we delve into reactions of key EU institutions - ECB, EC, and EP - following the landmark vote of the GENIUS Act.

    Regulatory Radar

    Regulatory Radar #3

    Welcome to Kulipa's Third Regulatory Radar! In this Regulatory Radar, the second of our dedicated series, where we delve into the GENIUS Act—Guiding and Establishing National Innovation for US Stablecoins Act— and the CLARITY act - two landmark bills designed to create a comprehensive regulatory framework for payment stablecoins in the United States, contrasting them with the EU’s MiCA Regulation.

    Regulatory Radar

    Regulatory Radar 2#

    Welcome to Kulipa's Second Regulatory Radar! In this Regulatory Radar, the first of a new dedicated series, we explore the evolving legislative journey of the GENIUS Act—Guiding and Establishing National Innovation for US Stablecoins Act—a landmark bill designed to create a comprehensive regulatory framework for payment stablecoins in the United States.

    Deep Dive

    The Great Fintech Migration: Why Every Payment Company Will Run on Stablecoins

    Stablecoin infrastructure is faster and cheaper, and companies are using it to fundamentally rebuild payment infrastructure for the next decade of financial services. The great fintech migration isn't coming. It's here.

    Regulatory Radar

    Regulatory Radar #1

    On 10 June 2025, the European Banking Authority (EBA) issued a no-action letter addressing the interaction between PSD2 and MiCA—marking the first time this tool has been used to navigate the complex overlap between legacy payments regulation and Europe’s new crypto framework. But what exactly is a no-action letter in the EU context? Who can issue one? What’s its legal weight? And why should market participants and policymakers alike pay attention? Let’s take a closer look.

    Crypto Compass

    Crypto Compass - Week 6

    Fed Governor Powel Pushes for Stablecoin Regulation, Tether Invests in Zengo Wallet, Klarna Explores Crypto Integration Ahead of IPO

    Crypto Compass

    Crypto Compass - Week 5

    SEC Shifts Crypto Enforcement Strategy, Sen. Hagerty to Introduce Stablecoin Bill, Stablecoin Market Cap Surges to $200B

    Crypto Compass

    Crypto Compass - Week 4

    ECB Pushes for Digital Euro Amid US Policy Changes, Binance Faces French Money Laundering Probe, Andreessen Horowitz Exits UK for US Focus

    Crypto Compass

    Crypto Compass - Week 3

    Trump nominates the SEC and CFTC Commissioners, Circle acquires Hasnote, ESMA pushes for eelisting of non-MiCA compliant stablecoins

    Crypto Compass

    Crypto Compass - Week 2

    Coinbase Launches Bitcoin-Backed Loans, first signs of Trump's decisions to come, more and more banks exploring crypto, regulatory clarity coming to Kenya

    Crypto Compass

    Crypto Compass - Week 52

    Bitcoin reserves on the agenda of a lot of governments, second largest French bank to offer crypto, MoonPay acquiring Helio Pay

    Crypto Compass

    Crypto Compass - Week 51

    Ripple finally launches RLUSD, India advocates global crypto regulation framework, MiCA-compliant stablecoins dominate European markets, Usual Adopts M0 Infrastructure for Stablecoin

    Crypto Compass

    Crypto Compass - Week 50

    Circle and Binance Partner to Boost USDC Adoption, Stablecoin Market Cap Nears $200 Billion, Digital Euro Leader Resigns Amid Controversy, India's Central Bank Sees CBDC Potential

    Crypto Compass

    Crypto Compass - Week 49

    David Marcus stance on the death of Diem (formerly Libra), Nuvei Expands Blockchain Payments in Latam, Coinbase Exec Predicts Stablecoin Regulations in the US by 2025

    Crypto Compass

    Crypto Compass - Week 48

    Robinhood Adds USDC in EU Markets, BlackRock-Backed Stablecoin Gains Traction, Coinbase Won't Support Celo Migration

    Payments 101

    What is the interchange fee? And how can it improve revenue for crypto wallets?

    In previous articles, we’ve detailed how payments work, noting that the incentive for much of the work done by various players is being able to receive a portion of the interchange fees. Today, we’ll go into more detail on the interchange fee, including who shares it, how it’s calculated, and why Kulipa brings clarity to its partner wallets about what they’ll earn.

    Crypto Compass

    Crypto Compass - Week 47

    US SEC Chair, Gary Gensler Stepping Down in January 2025; Paxos Seeks EU Market Access with Membrane Finance acquisition; Tether launching MiCA-compliant stablecoins with Kraken and Quantoz Payments

    Crypto Compass

    Crypto Compass - Week 46

    USDT Crude Oil Transaction, Sling enters the US, Underbanked US Households Rely on Crypto

    Crypto Compass

    Crypto Compass - Week 45

    French Gambling Regulator May Ban Polymarket, JPMorgan Expands Blockchain FX Settlements, Seven South Korean Banks Join CBDC Pilot, Helio Expands Solana Payments on Shopify

    Crypto Compass

    Crypto Compass - Week 44

    Paxos launches USDG, Ant CEO praises tokenization, Tether's dirham-pegged stablecoin launch, U.S. Treasury notes stablecoin influence on T-bills

    Deep Dive

    Is Web3 devolving back into Web2?

    85% of traded volumes happen off-chain, on CEXs. The problem is that CEXs are custodial, and not interoperable like on-chain protocol. And as these centralised solutions offer a better UX than their decentralised counterparts, it's easy to think that crypto might just become another commodity just good enough to be traded for profits, in neobanks-like structure. In short: is web3 devolving back into web2? That's what we're exploring today in this new Deep Dive rant.

    Crypto Compass

    Crypto Compass - Week 43

    Stripe Acquires Bridge, Avalanche and Visa’s New Crypto Card, Argentina full support to crypto and more regulatory updates

    Crypto Compass

    Crypto Compass - Week 42

    Stripe's Strategic Expansion in Stablecoins with Paxos and Bridge, Stablecoin Adoption: US Lags, EU Gains Momentum, Ripple Expands Global Reach with RLUSD Stablecoin

    Payments 101

    How does Kulipa's crypto debit card work for self-custodial wallets?

    In our previous article, we explained the criteria for determining if your wallet would be best served by a debit card or a prepaid card. As mentioned, the smooth user experience offered by crypto debit cards comes with some additional technical issues; below, we detail how Kulipa handles them based on account characteristics, security keys, risk management, and more.

    Crypto Compass

    Crypto Compass - Week 41

    Coinbase Delisting Stablecoins, Paxos yield-generating stablecoin, Stripe’s Return to Crypto Payments...

    Payments 101

    What’s better for your crypto wallet: a prepaid card or a debit card?

    Choosing between prepaid and debit crypto cards is a crucial decision for wallets looking to enhance user experience and drive engagement. This article explores the key differences between the two, to help wallets determine the best fit for their growth strategy.

    Crypto Compass

    Crypto Compass - Week 40

    SWIFT, PayPal, and Ripple Deepen Engagement in Crypto Payments, LatAm and Asian government continue to push for crypto, ECB and Börse Stuttgart projects in crypto...

    Crypto Compass

    Crypto Compass - Week 39

    Robinwood and Revolut exploring stablecoin issuance while Visa launches a stabelcoin issuance platform for banks, Crypto booming in Bolivia after its legalization...

    Deep Dive

    Embedded wallets, the gateway to mainstream stablecoin adoption?

    Are embedded wallets the key to mainstream stablecoin adoption? In this interview with Mathilde David, Product Lead for Stablecoin Movement at Paxos, we explore how user-friendly Web2 wallets could simplify crypto payments. Learn about the regulatory challenges, payment innovations, and opportunities shaping the future of stablecoins in this ever evolving financial landscape.

    Crypto Compass

    Crypto Compass - Week 38

    Circle improving their service in LatAm, Soneium already getting the USDC, crypto recognized as property in the UK, JPMorgan doubles down on crypto

    Payments 101

    How do card payments work, and what does it take to enable everyday purchases with crypto?

    This article breaks down the payment authorization and settlement processes, and explores how crypto debit cards function by leveraging existing financial infrastructure. It also explains how Kulipa enables wallets to issue branded crypto cards that work seamlessly with Visa and Mastercard networks.

    Crypto Compass

    Crypto Compass - Week 37

    Report by Visa on real world use cases for stablecoin, UK recognizes crypto as personal property, regulatory clarity enabling geographical expansion globally

    Crypto Compass

    Crypto Compass - Week 36

    Nigeria SEC issuing the first crypto licences, 87% of crypto licences application fail, a CBDC pilot in Brazil, DWF synthetic stablecoins to launch soon and much more...

    Crypto Compass

    Crypto Compass - Week 35

    This week in our Compass: Tether drops its own chain project, Binance embraces a MiCA compliant stablecoin, Japan and Hong Kong confirm their commitment to crypto, and more...

    Crypto Compass

    Crypto Compass - Week 34

    This week in our Compass: Binance still under regulatory pressure despite it effort, EURC coming to Europe with Coinbase, Tether launching a Dirham stablecoin, Quidax first licensed exchange in Nigeria, and much more...

    Crypto Compass

    Crypto Compass - Week 33

    This three weeks in our Compass: Contrasted Regulatory Evolutions (India, France, Brazil...), Metamask officially announcing their card, new promising stablecoins, and more...

    Crypto Compass

    Crypto Compass - Week 30

    This week in our Compass: finally the launch of the first US ETH ETFs, 3 CBDC projects accros the globe, first company capitalised in crypto in Argentina

    Crypto Compass

    Crypto Compass - Week 29

    This week in our Compass: Stripe enabling card on-ramp for their EU merchants, Blackrock CEO legitimising Bitcoin and a busy summer for regulators

    Announcements

    Reinforcing our vision through partnership with Argent and $3 million pre-seed funding

    Today, we’re excited to announce the launch of the first zk-powered debit card for seamless stablecoin spending, in partnership with Argent, and backed by $3 million in funding. This marks a significant step towards our mission of making self-custodial wallets a mainstream financial tool.

    Crypto Compass

    Crypto Compass - Week 28

    This week in our Compass: Argent announces at crypto debit card powered by Kulipa, SEC drops its case against BUSD and a lot more announcements

    Crypto Compass

    Crypto Compass - Week 27

    This week in our Compass: Circle becomes an EMI under MiCA and more regulatory updates from Singapore, Nigeria...

    Crypto Compass

    Crypto Compass - Week 26

    This week in our Compass: Coinbase-Stripe partnership, Nigeria pushing a new regulation, and much more

    Crypto Compass

    Crypto Compass - Week 25

    This week in our Compass: The SEC drops charges against Ethereum, the subtle equilibrium of stablecoins and CBDCs

    Crypto Compass

    Crypto Compass - Week 24

    This week in our Compass: Emerging market crypto push, CBDC for x-border in Saudi and regulatory updates across the globe.

    Crypto Compass

    Crypto Compass - Week 23

    This week in our Compass: Regulatory update in Hong Kong, EU and Rwanda, Growing crypto interest in Australia and Thailand, and consolidations in the industry

    Crypto Compass

    Crypto Compass - Week 22

    This week in our Compass: Growth of stablecoins in Russia and PYUSD on Solana, New institutional tokenisation projects and CBDC updates in China and Israel

    Crypto Compass

    Crypto Compass - Week 21

    This week in our Compass: Ethereum ETFs finally approved in the US, new algorithmic stablecoins and more regulatory updates

    Crypto Compass

    Crypto Compass - Week 20

    This week in our Compass: Regulatory update from the USA, Nigeria, India and more, new stablecoin and RWA project & an update by Mastercard, some signs of challenges for the digital Yuan, and much more.

    Announcements

    Kulipa joins Mastercard's Start Path Blockchain and Digital Assets program

    We're thrilled to announce that Kulipa will join Mastercard's Start Path program to explore how blockchain technology can revolutionize the financial system, creating a more efficient and inclusive experience for millions around the world.

    Crypto Compass

    Crypto Compass - Week 19

    This week in our Compass: Update on the situation in Nigeria, Ripple's stablecoin and much more

    Crypto Compass

    Crypto Compass - Week 18

    Global growth of stablecoin, CBDC projects between Iran and Russia and many more regulatory evolutions.

    Deep Dive

    Do we need a Spotify for Wallets? with Alexandre Gabadou from The Big Whale

    In this week's episode of the Deep Dive, we explore the keys to achieving the delicate balance between simplicity and security in wallet design, with Alexandre Gabadou from The Big Whale, France's leading Web3 media outlet.

    Crypto Compass

    Crypto Compass - Week 17

    Stripe reaccepting crypto, EU voting AML regulations, 98% of countries exploring CBDCs, US bill on stablecoin and more crypto news.

    Crypto Compass

    Crypto Compass - Week 16

    This week in crypto: CBDC race is on, self-custody and stablecoin on the rise and a regulatory update.

    Crypto Compass

    Crypto Compass - Week 15

    This week in crypto: SEC going after DeFi, suing Uniswap, plus other updates about PYUSD, and updates from Thailand, Paraguay.

    Deep Dive

    The Liquidity Trap: How Wallets are Chasing Trends and Missing Innovation

    This week, we sat with Arthur Pfalzgraf, Product Manager at Ultimate Wallet for an insightful talk about the challenges that wallets face today, and how following trends ultimately hurts adoption.

    Crypto Compass

    Crypto Compass - Week 14

    This week in crypto: Regulatory updates from Singapore, Lithuania, France and Argentina. Ripple's cash-equivalent stablecoin

    Deep Dive

    Are There Real-World Use Cases for Account Abstraction Today?

    On this week's episode of the Deep Dive, we explore the differences between EOA and Account Abstraction wallets, before having a look at concrete use cases for AA today.

    Crypto Compass

    Crypto Compass - Week 13

    This week in crypto: Regulations are catching up (Estonia, EU, US) with a focus on AML compliance. Central Bank Digital Currencies (CBDCs) are gaining traction (IMF, SWIFT, UAE). Traditional finance is embracing blockchain (HSBC, UK), but challenges remain.

    Crypto Compass

    Crypto Compass - Week 12

    This week in crypto: Central banks ramp up CBDC efforts with Hong Kong's e-HKD pilot and Liberia's partnership. Stablecoins see potential regulation relief with positive US comments but face rising competition. Regulatory focus intensifies with the UK's FCA and Argentina tightening their grip on crypto exchanges. The SEC's Ethereum probe adds uncertainty to the market.

    Deep Dive

    Wallet Features for Mainstream Adoption (Part 2)

    This episode dives deeper into features and use cases that propel non-custodial wallets towards mainstream adoption. We'll explore 2 distinct use cases (remittance and integrated DeFi products) to position wallets for significant user growth and industry leadership.

    Deep Dive

    Wallet Features for Mainstream Adoption (Part 1)

    In this first episode of the Deep Dive we explore non-custodial wallets features for mainstream adoption, kicking off with payments! We'll dissect seamless payment solutions and their potential to empower the vast population of unbanked adults globally.

    Crypto Compass

    Crypto Compass - Week 11

    In this week's Crypto compass, we explore hot topics like CBDCs in Hong Kong and Israel, plus stablecoins in emerging markets and their regulation in Europe. And a lot more crypto news!

    Crypto Compass

    Crypto Compass - Week 10

    The Philippines and Hong Kong are both testing Central Bank Digital Currencies (CBDCs). While the Philippines focuses on using CBDCs for transactions between banks and for cross-border payments, Hong Kong is exploring using their e-HKD for everyday transactions and even for tokenizing real estate assets. Even though privacy isn't the main concern here, these developments show that traditional finance is increasingly open to incorporating some aspects of cryptocurrency.

    Crypto Compass

    Crypto Compass - Week 9

    Headlines: - Central Banks Take Center Stage - Stablecoins on the Rise - Global Adoption on the Horizon

    Crypto Compass

    Crypto Compass - Week 8

    Headlines UK & Hong Kong take proactive stances with stablecoin & crypto regulations. Turkish lawmakers engage with stakeholders on crypto regulations. India optimistic for its CBDC Understanding crypto taxes in the US