settlement

On October 25, 2026, Bilibili UP Master "Brother Feng on the Run" released a video titled "A Day of Daily Settlement Experience at Majia Bridge." In the footage, street stalls display the words "Binance New User Promotion," with the relevant segment appearing around 04:08 in the video.Majia Bridge is located outside the sixth ring road in the southeast of Beijing, adjacent to the Yizhuang Economic and Technological Development Zone, where a large daily settlement labor market has spontaneously formed. The video and related description state that APP user acquisition refers to intermediaries finding passersby to download and register the application, and sometimes they also need to complete their first use, after which cash rewards are paid to them.

According to CoinDesk, Shinhan Card, a subsidiary of South Korea's Shinhan Financial Group, is collaborating with a subsidiary of Japan's SBI Holdings to explore the payment applications of a yen stablecoin between the two countries. Participants include the cryptocurrency exchange SBI VC Trade and the trade finance blockchain company SBI XDC Network APAC.The collaboration will study scenarios such as card-linked merchant payments for Japanese tourists visiting South Korea, wallet-to-wallet transfers, and cross-border trade settlements, and will include suspicious transaction monitoring and anti-money laundering compliance systems. Shinhan Card serves approximately 20 million cardholders and stated that it will connect this project with Shinhan Financial's broader digital asset strategy, which includes an agreement reached in August with Visa to explore stablecoin issuance, transfers, and card settlements.Currently, the project is still in its early stages, and the parties have not disclosed the types of stablecoins to be tested, nor have they set a timeline for testing or commercial rollout. SBI has previously issued the yen stablecoin JPYSC, launched by SBI Shinsei Trust Bank and introduced in collaboration with Startale Group, which had a circulation of approximately 20.1 billion yen (about 127 million USD) as of September 7. JPYSC is currently only available for use in SBI VC Trade accounts and cannot be transferred to external wallets. Its circulation on the public chain depends on legal and tax clarity and regulatory approval, and the parties have not indicated whether JPYSC will be included in this test.

According to The Defiant, the DeFi protocol Extended plans to migrate its settlement from Starknet to Arc on October 22.Extended stated that users holding more than 1 USDT or wBTC in their sub-accounts must convert or withdraw to avoid forced liquidation of their accounts; however, the related notice it released provided conflicting deadlines.

According to Lookonchain monitoring, a new address has faced 5 liquidations in the past hour, accumulating a loss of 1.11 million dollars in 2 days.

The Bank for International Settlements (BIS) released Working Paper No. 1385, comparing the cross-border payment costs of traditional banks, fintech remittance companies, and stablecoins. The paper points out that stablecoins can complete cross-border transfers through networks such as Ethereum, Solana, and Tron, reducing reliance on correspondent banks and SWIFT.The paper states that the exchange rates of stablecoins for major currencies can approach wholesale foreign exchange rates, and on-chain transfer fees are relatively low. However, the complete process involving fiat currency, stablecoins, and fiat currency still incurs transaction, withdrawal, and exchange fees. Stablecoins reconstruct the intermediary process but do not eliminate intermediaries. Insufficient market depth limits the cost advantages of large payments, and some advantages in emerging markets are related to capital controls and demand for US dollars.

The analysis agency Sentora stated that approximately $1.63 billion in Ethereum lending platforms were liquidated in the past year, with 89% completed through atomic paths. Atomic liquidation relies on DEX liquidity. The thin liquidity pools and the existence of whitelist transfer restrictions on RWA collateral will drive more liquidations towards off-chain market makers, RFQ, and solver paths.Atomic paths refer to the completion of collateral liquidation and debt repayment within the same on-chain transaction. Common methods include flash loans, self-funding advances, or direct contract calls. In contrast, RWA is often difficult to clear instantly on DEX, and liquidations will increasingly be handled by compliant off-chain market makers through price inquiries and solvers taking over collateral before completing the liquidation.

On October 15, 2026, U.S. District Judge Alvin Hellerstein denied the motion to revoke the $5 million settlement agreement reached between the cryptocurrency exchange Gemini and the Commodity Futures Trading Commission (CFTC), with the fines paid and permanent injunctions remaining in effect. Previously, the CFTC had stated that the original lawsuit should not have been filed. The controversy stemmed from Gemini's involvement in proposed Bitcoin futures contracts.The CFTC filed the lawsuit in June 2022, accusing it of misleading regulators regarding trading safeguards, customer financing, special rate arrangements, and activities that could affect contract pricing; the parties settled in January 2025, with Gemini neither admitting nor denying the related allegations. In May 2026, after an internal review, the CFTC jointly filed a motion with Gemini to revoke the settlement, citing issues with whistleblower credibility, evidence, and enforcement practices. The judge found that the relevant circumstances existed prior to the settlement, and the change in enforcement focus was insufficient to revoke a binding court order; the CFTC still retains enforcement discretion.

The third-quarter report released by the stablecoin payment network Borderless.xyz shows that the median cost of sending a $200 remittance through stablecoin funding channels is 1%, or $2; whereas, according to World Bank data, the median cost of traditional remittance channels is 6.36%, or $12.72. In comparison, the cost of stablecoin remittances is approximately 84% lower. This comparison uses Borderless's pricing for the third quarter of 2026 and World Bank data for the same period in 2025.In emerging markets, the cost advantage is also evident. The cost of stablecoin remittances in Sub-Saharan Africa is 2.9%, while traditional transfers are 8.46%; in Latin America, the figures are 1.25% and 5.64%, respectively. In terms of corporate payments, a $10,000 stablecoin transfer to the Eurozone can cost as low as $26 when choosing the lowest-cost service provider, with the median service provider costing $52; traditional international bank wire transfers for the same amount require $135 to $150, including transfer fees and a 1% foreign exchange spread.Regarding settlement speed, the report states that stablecoin payments can reach the recipient's local bank account within minutes. The median settlement time for Brazil's PIX network in the third quarter is 2 minutes, Mexico's SPEI is 3 minutes, and Colombia's PSE is 2 minutes; traditional SWIFT transfers typically settle the next day, with the slowest 10% taking 3 business days. The success rate for receiving funds varies significantly: Mexico's SPEI is 98.6%, Brazil's PIX is 97.8%, Colombia's PSE is 79%, and Costa Rica's SINPE is only 73%. Standard Chartered Bank recently pointed out that although the total market capitalization of stablecoins has grown relatively slowly this year, transaction volumes are still rising, and it is expected that this market will reach $2 trillion by 2030, two years later than previously predicted.

According to market news, a U.S. court has officially approved the settlement between Movement Labs, the original founders, and the Movement Foundation, further resolving the previous legal disputes.In 2025, Movement faced controversy due to the market-making arrangements for the MOVE token, which subsequently led to personnel changes and disputes within the team.

The Hong Kong Stock Exchange published a consultation summary document regarding the shortening of the settlement cycle for the Hong Kong stock cash market, showing broad support for the implementation of a T+1 settlement cycle in the Hong Kong securities market. After consolidating stakeholder opinions, the Hong Kong Stock Exchange plans to complete the relevant transition in the second half of 2028, provided that the market is ready and regulatory approval is obtained.A total of 109 unique responses were received during this consultation, from market stakeholders including brokers, custodians, investment managers, industry associations, technology providers, and investors. Respondents agreed on Hong Kong adopting a T+1 settlement cycle and recognized that this move would help enhance market efficiency, reduce settlement risks, improve capital efficiency, and strengthen Hong Kong's competitiveness as an international financial center.

Federal District Judge Alvin Hellerstein in New York dismissed the joint application of Gemini and the Commodity Futures Trading Commission (CFTC) to revoke the $5 million settlement agreement. Gemini and the CFTC had stated in May that the settlement agreement reached in January 2025 violated the fundamental principles of fair enforcement.The judge ruled that the aforementioned reasons were insufficient to support the revocation of the settlement and noted that Gemini voluntarily signed the agreement three weeks before the trial.

According to The Block, the developer of the tokenized asset settlement platform Multiliquid, Uniform Labs, has raised a total of $8 million in seed and pre-seed funding rounds, with the latest seed round led by Polychain, and participation from Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures, and Circle Ventures.Multiliquid supports institutions in converting between tokenized assets and stablecoins through single atomic transactions, and is currently deployed on Ethereum and Solana.

According to on-chain data analyst Yu Jin's monitoring, a whale or institution holding a long position worth 352 million dollars is facing liquidation risk, with an overall position loss of approximately 18.87 million dollars.Among them, 79,260 ETH long positions are valued at about 187 million dollars, with a liquidation price between 2290 and 2301 dollars, approximately 60 dollars away from liquidation. The address has 1,140 BTC long positions valued at about 92.6 million dollars, with a liquidation price between 72,268 and 74,449 dollars, which is currently not close to the liquidation price.

According to The Block, brokerage service provider DriveWealth has partnered with Ripple to integrate its stablecoin settlement, cross-border payment, and digital asset custody services into its brokerage platform.The two parties will initially launch settlement operations in Europe and plan to expand the service scope to the United States. This integration will utilize the Ripple RLUSD stablecoin on the XRP Ledger, allowing DriveWealth customers to use a stablecoin that can be converted to fiat currency almost in real-time for collateral account funding and management. Additionally, both parties are exploring opportunities for equity financing through Ripple Prime.

The stablecoin infrastructure platform Interlace announced a joint initiative with multiple industry partners, including OSL, AllScale, Stable, Hetu, Cregis, WIDTH, KEM, and KTX, to launch the white paper titled Stablecoin Payment Infrastructure: From On-Chain Settlement to Real-World Payments. As stablecoins evolve from crypto-native financial instruments into global financial infrastructure, stablecoin payment activity is also growing rapidly. In Q1 2026, stablecoin transaction volume exceeded $28 trillion, while stablecoin B2B payments reached $226 billion in 2025, representing a 733% year-over-year increase. However, as stablecoin payments expand into real-world commercial use cases, the industry still lacks a systematic framework for defining the capabilities covered by stablecoin payment infrastructure and how on-chain assets can be connected with real-world commerce. The white paper will focus on this gap, covering key topics such as stablecoin payment infrastructure, end-to-end costs, compliance and risk management, and enterprise-scale adoption. Drawing on industry data, practical experience, and real-world cases, it will further explore the development path of stablecoin payment infrastructure. The full white paper is expected to be officially released within the next 1-2 months.

The institutional settlement network Lynq, aimed at the digital asset market, and the stablecoin clearinghouse The Better Money Company (TBMC) announced the completion of a real-time proof of concept, demonstrating that institutional settlements can be completed in minutes. This proof of concept is part of the first phase of collaboration between the two parties, utilizing a pre-funded process to complete stablecoin settlements on Lynq.In the proof of concept, TBMC converted assets deposited by clients on Lynq into RLUSD, with settlements completed in minutes. The validation used real production accounts and real institutional counterparties, bypassing traditional banking windows during the settlement process. Interest continued to accrue on the assets during the settlement holding period, calculated using Tassat's Yield in Transit feature, determining accrued interest based on the duration of asset holdings.TBMC founder and CEO Sam Broner stated: "For stablecoins to become meaningful institutional infrastructure, they need to enter real settlement processes; this validation shows that stablecoin fragmentation can be handled through on-chain collateral transfer without relying on credit and traditional banking settlements for connection." Lynq CEO Jerald David remarked: "Institutions are not lacking in capital; what they lack is the ability to move funds to the right place in the right form when needed; this validation was intentionally kept small in scale, but it shows that digital dollars can settle between institutions in minutes, without substituting speed with credit convenience." Lynq stated that the platform's native stablecoin support is currently targeted for the end of 2026.

On October 13, 2026, the Bank for International Settlements Innovation Hub released the second phase report of the Aurum project, themed "Exploring Privacy-Enhancing Technologies for Digital Cash." This phase implements a privacy-protecting digital cash prototype based on the existing Aurum codebase, helping policymakers understand how relevant technologies can alleviate the dilemma between privacy and compliance in digital cash.The prototype adopts the principles of privacy by design and default privacy, demonstrating practices that lie between complete anonymity and complete transaction transparency, and achieving customizable features to meet business needs in compliance and operations. The project indicates that privacy can be embedded in the design of digital cash through technology, rather than solely relying on institutional guarantees, thereby reducing unnecessary exposure of personal and transaction data while maintaining compliance and system integrity.Privacy-protecting designs can assist central banks and policymakers in understanding the relevant considerations and trade-offs. The prototype's functionalities demonstrate policy flexibility between privacy, transparency, compliance, and other attributes, which can be calibrated according to different policy choices and risk preferences. In addition to digital cash, central banks can further explore privacy-enhancing technologies in more use cases, with the report listing several usage experiences.

According to CoinGlass data, in the past 24 hours, 10 exchanges have liquidated approximately $803 million in leveraged positions, with long positions accounting for $694 million, representing 86%, affecting a total of 172,100 traders. About $595 million, nearly three-quarters of the total for the day, was liquidated in the last 12 hours, as the South Korean KOSPI index fell by more than 6%, and Bitcoin briefly dropped below $81,000. The largest single liquidation was a $9.65 million Bitcoin long position on Binance, which was forcibly closed at around $81,773, with Binance accounting for half of the total liquidation volume.Bitcoin topped the list with $181 million in liquidations, followed closely by Ethereum with $178 million, despite its market capitalization being much smaller than Bitcoin's; SOL positions lost $60 million, ZEC $24 million, and NEAR $22 million. Stock-related contracts then made the list, with perpetual contracts tracking U.S. storage chip manufacturer SanDisk liquidating $19.09 million, slightly above HYPE's $19.04 million and XRP's $18.78 million. These perpetual contracts allow traders to bet on stock prices without an expiration date on cryptocurrency exchanges, with contracts for SK Hynix, Micron, and the triple-leveraged U.S. semiconductor ETF SOXL also appearing on the heatmap, with SOXL liquidating $7.21 million.The aforementioned losses coincided with a sell-off in the Seoul market, where Samsung Electronics and SK Hynix each fell by about 8%, as the market worried about AI-related valuations and competition from Chinese storage chip manufacturers.