Kvants Insights Newsletter: June 2025
Today, South Korea’s top banks announced a 2026 rollout of a won-pegged stablecoin to counter USD dominance, while Japan’s Metaplanet raised $515 million to expand its Bitcoin treasury. In the U.S., Arizona advanced a Bitcoin reserve bill funded by seized crypto, and the Senate passed landmark stablecoin legislation mandating full asset backing. SoFi re-entered crypto trading and launched global remittance services, signaling renewed fintech engagement under a favorable regulatory climate. Meanwhile, Green Minerals revealed a $1.2B BTC treasury plan, Trump Media filed to list a politically branded crypto ETF on NYSE, and scrutiny intensified around a Russian ruble-pegged stablecoin processing $9.3B, raising geopolitical compliance concerns.
South Korean banks plan won-pegged stablecoin launch by 2026
Eight major South Korean banks will collaborate to launch a won-backed stablecoin by late 2025 or early 2026, aiming to counter US dollar dominance and shore up monetary sovereignty. The initiative, supported by regulators and featuring banks like KB Kookmin, Shinhan, and Standard Chartered Korea, is framed as a strategic financial modernization. The project aligns with the Bank of Korea’s gradual pilot approach, prioritizing regulated commercial bank issuance. Introduction of a domestic on-chain currency infrastructure is expected to enhance FX resilience. LINK
Importance
This signals a proactive defense of the won and monetary policy against unregulated USD-pegged stablecoins. Institutional products linked to regulated native stablecoins could emerge in South Korea’s financial landscape. The initiative sets a precedent for coordinated bank-led stablecoin models in advanced markets. Corporates and investors should assess the implications of new on-chain distribution channels for FX exposure. The rollout could influence regional financial landscape and global stablecoin competition.
Bitcoin treasury firm Metaplanet raises $515 million through new stock issuance
Japan’s Metaplanet issued 54 million new shares, raising approximately $515 million to expand its Bitcoin treasury holdings. The capital injection supports ambition to build out its BTC position under a corporate strategy pivot. This represents one of Asia’s largest crypto-linked capital raises to date. The company is positioning itself as a corporate-native Bitcoin custodian. LINK
Importance
Metaplanet’s move highlights institutional blockchain strategy outside the US. As a listed entity, this opens capital markets engagement with BTC. It may inspire similar treasury strategies for yen-exposed corporates seeking natural hedges. The scale and public nature of the raise validates BTC allocation models beyond financial firms. Investors should consider cross-border comparative yields and balance sheet implications.
Deep Sea Mining Firm Goes Deep on Bitcoin With $1.2B BTC Treasury Plan
Green Minerals, a Norwegian deep-sea mining firm, plans to allocate up to $1.2 billion into Bitcoin as part of its treasury diversification strategy. The company has begun with a first small allocation as a larger implementation test. Shares dropped significantly post-announcement due to reallocation expectations. Green Minerals frames the move as alignment with bitcoin's inflation-hedge properties. LINK
Importance This marks a non-financial firm embracing BTC at scale, indicating broadening institutional confidence. It positions bitcoin as a global strategic commodity hedge. The market reaction demonstrates appetite-risk trade-offs for large allocators. Investors and trustees should evaluate treasury diversification frameworks that include digital assets. The development reinforces BTC's relevance cross-sector.
SoFi reintroduces crypto investing and launches global remittances
SoFi announced it will re-enter crypto trading with spot services alongside a new global remittance product powered by blockchain. The relaunch reflects favorable regulatory climate and fintech-policy alignment in the current U.S. administration. The service rollout, due this year, signals renewed crypto-access strategy for retail and cross-border users. SoFi intends future expansion into stablecoins, staking, and lending options. LINK
Importance
SoFi's move signifies enhanced consumer-access mainstreaming of crypto rails. Combining remittances and spot trading directly challenges traditional cross-border providers. Institutional partners in payments and compliance should assess regulatory and operational synergies. This demonstrates strategic cohesion between fintechs and evolving U.S. crypto policy. It may spearhead a second wave of retail and institutional service bundling.
Arizona House clears bitcoin reserve bill funded by seized crypto
Arizona House passed HB2324, creating a Bitcoin reserve fund financed by seized digital assets, with initial $300k directed to the Attorney General office. The bill awaits the governor’s signature and includes modern custody and management protocols. The legislation marks the second state-level crypto reserve initiative following earlier unclaimed property frameworks. It allocates residual seized crypto to both the reserve and general fund. LINK
Importance
Arizona continues to pioneer public sovereign crypto reserves financed through forfeiture. The custodial framework establishes a model for secure state-level digital asset accumulation. Institutional entities managing seized assets or providing custody should observe state governance standards. This legislation supports strategic treasury narrative layered at the sub-federal level. It also may set a benchmark for other states contemplating crypto reserve policy.
NYSE files rule change to list Trump Media’s crypto ETF
NYSE submitted a rule change to list an ETF by Trump Media holding both Bitcoin and Ethereum, bridging political media brands with crypto markets. The proposal embeds digital assets within a politically branded investment vehicle for the first time on a major exchange. The filing awaits regulatory approval from both SEC and NYSE. If approved, it could become a high-profile entry point for retail investors. LINK
Importance
This intersection of political branding and crypto ETF represents a novel distribution channel for digital asset products. Institutional analysts should monitor how SEC evaluates the listing and its compliance implications. It might trigger new competitor applications blending finance with media narratives. The move raises questions about political-neutrality in ETF approval processes. The reception of such a product may influence future ETF branding strategies.
U.S. Senate passes stablecoin bill in milestone for crypto industry
The U.S. Senate approved stablecoin legislation requiring full asset backing, reserve protection, and issuer transparency, moving the bill to the House for reconciliation. The law addresses risk and foreign issuer concerns, emphasizing liquidity and fund protection. This marks the most significant stablecoin legislation in U.S. history. It mandates regulatory standards tied to banking frameworks and consumer safeguards. LINK
Importance
This Senate bill formalizes stablecoin accountability into mainstream financial regulation. It potentially accelerates issuer maturity and market trust for institutional-grade stablecoins. Banks and crypto firms should prepare for compliance adjustments and governance oversight. The law may catalyze asset manager adoption and treasury applications. Market watchers should track House amendments for final regulatory shape.
Crypto coin for Russian shadow payments moves $9 billion
A ruble‑pegged stablecoin, A7A5, has processed over $9.3 billion in four months, raising flags over sanction evasion. Issued via a Kyrgyz exchange backed by Promsvyazbank, it sits in a regulatory gray area. Blockchain analysis identified links to previously U.S.-flagged entities. Global enforcement agencies are now investigating its role. LINK
Importance
A7A5 demonstrates the strategic use of stablecoins in sanctions-resistant financial flows. Institutional compliance teams must strengthen monitoring of on-chain geopolitical risk. Banks servicing crypto clients may reconsider counterparty screening. This concurrent growth in shadow stablecoin networks suggests a regulatory arms race. Policy frameworks may require new cross-border digital control measures.