efx

According to market news, the Central Bank of Brazil issued Resolution No. 561, prohibiting the use of virtual assets for settlement in regulated eFX international payment and transfer services.The new regulation requires that payments or receipts between eFX service providers and foreign counterparties must be completed through foreign exchange transactions or non-resident Brazilian real accounts. This restriction also applies to eFX service providers that have not yet been approved but are in a transitional period. The rule does not completely ban cryptocurrency transfers in Brazil, but rather excludes virtual assets and stablecoins from regulated eFX channels.

Circle announced the launch of two new products based on its Arc blockchain (which is set to launch its mainnet in 2026): Circle StableFX and Circle Partner Stablecoins.Circle StableFX is an institutional-grade, stablecoin-based foreign exchange (FX) engine that is currently available on the Arc public testnet. It allows institutions to trade selected stablecoin currency pairs 24/7 at competitive prices, reducing counterparty risk and enabling on-chain settlement through an RFQ (Request for Quote) execution method. The Circle Partner Stablecoins initiative aims to support selected regional stablecoin issuers in deploying their non-USD stablecoins on Arc. The first partners include Avenia (BRLA), Busan Digital Asset Custody Services (KRW1), Coins.ph (PHPC), among others, covering multiple currencies such as the Brazilian Real, Korean Won, and Philippine Peso. Circle stated that StableFX, Partner Stablecoins, and Arc together form a unified stack that connects global currencies on-chain, aiming to elevate foreign exchange settlement from T+1 to real-time settlement, promoting more efficient global currency flows.

ChainCatcher news, Layer 1 blockchain project Defx has completed a $2.5 million seed round financing, with participation from Pantera Capital, CMT Digital, gumi Cryptos Capital (gCC), Baboon VC, CoinShares Ventures, Robot Ventures, and Polygon co-founder Sandeep Nailwal. The new funds are intended to support the construction of a decentralized exchange optimized for perpetual contract trading.

ChainCatcher message, Frax Finance has initiated a community proposal to allocate 75% of the protocol fees to veFXS holders. The proposal states that the collateral ratio (CR) of FRAX is 98.8%, which is close to 100%, and the overall market sentiment is in the bullish zone. Therefore, it is suggested to resume the allocation of fees to veFXS holders. Before the protocol fully acquires external collateral, the fees should be distributed between veFXS holders and the protocol treasury at a ratio of 75/25.