OKX adds token support for atomicals, runes, doginals and stamps

Japanese Crypto Firm Pafin to Introduce DeFi Asset Management PlatformA Japanese company specializing in cryptocurrency services is preparing to launch a DeFi asset management platform.Photo by Shubham Dhage on UnsplashDeFi asset managementPafin, the company behind Cryptact, a service that automates cryptocurrency profit and loss (P&L) calculations, is set to introduce Defitact on June 5. Defitact is a platform designed to consolidate transactions involving decentralized finance (DeFi) assets and NFTs, complemented by illustrative charts. Pafin claims that it is the first provider of crypto P&L calculations to offer blockchain asset management in the Japanese language.The company envisions a broad array of services through Cryptact, from asset management to P&L calculations, to support all Web3 activities in today’s digital landscape.Beta test for subscribersStarting from May 29, Pafin will roll out a beta test for Defitact, exclusive to Cryptact newsletter subscribers. Subscribers will be able to access the service by entering their wallet addresses in the URL provided with the newsletter, which will be sent on the beta test launch date. The newsletter will be sent to those who sign up by May 28, and registration for a Cryptact account is free.This service emerges amidst the growing prominence of Web3, with DeFi — a financial service leveraging blockchain technology — standing out as one of its most rapidly evolving sectors. As of the close of 2021, the DeFi market had a near $100 billion valuation, according to a report by the Japan Research Institute.The nature of DeFi, lacking a centralized administrator, places the onus of crypto wallet management on individuals. The Defitact service seeks to resolve the inconvenience of monitoring and managing real-time transactions on DeFi platforms, typically operating outside crypto exchanges.Available in Japanese and EnglishAs a free, bilingual (Japanese and English) service, Defitact provides a transaction history and displays crypto market capitalization in three fiat currencies: the Japanese yen, the US dollar, and the euro.Pafin’s future plans include integrating Defitact with Cryptact, adding an NFT management service, and enabling the aggregation of multiple wallets for efficient digital asset portfolio management.

The Dubai Financial Services Authority (DFSA), the financial regulatory agency of the Dubai International Financial Center (DIFC), a special economic zone, has approved two stablecoins under its crypto regulatory framework. The two stablecoins, USD Coin (USDC) and EURC, are both issued by blockchain-focused financial services firm Circle. While USDC is a U.S. dollar-backed stablecoin, EURC is a euro-backed stablecoin. In a press release published on the Circle website on Feb. 24, the company announced details regarding the approval. The stablecoins are the first to be recognized and approved by the DFSA.Photo by Christoph Schulz on UnsplashStablecoin integrationThe development means that firms based in the DIFC are now free to integrate either stablecoin into digital asset applications and products focused on areas such as payments and treasury management. A number of Circle executives took to social media to comment on the development. Circle Co-founder and CEO Jeremy Allaire outlined on X that the approval means that financial institutions in Dubai “are now able to transact in markets with USDC and EURC.” In legally recognizing the two stablecoins, Allaire pointed out that the DFSA had joined regulators in the European Union (EU) and Canada.  Last Summer, Allaire announced that Circle’s stablecoins complied with the EU’s Markets in Crypto Assets (MiCA) regulation. In December, Circle became the first stablecoin issuer to meet Canadian listing regulations. Dante Disparte, Circle’s chief strategy officer and head of global policy, pointed out that a trend is emerging requiring the pre-clearing of stablecoins prior to them entering into circulation or gaining regulatory approval. “In always-on finance, reciprocity is key,” he added.  Meanwhile, the firm’s EU Strategy & Policy Director, Patrick Hansen, underscored the significance of the approval. Hansen pointed to the fact that the DIFC is home to 6,000 registered entities, including 800 authorized financial firms. An ‘edge’ over TetherEugene Cheung, Chief Institutional Business Officer at Hong Kong-based digital asset platform OSL, said that the approval was “massive for institutional adoption,” while giving Circle an “edge” over Tether within the $157 billion stablecoin market. While Circle has always taken a regulatory-compliant approach, competitor Tether has struggled with compliance. In Europe, 10 companies have been approved to issue stablecoins under MiCA regulations, but Tether is not among them. This has led to a number of exchanges delisting Tether’s USDT in Europe. The DIFC was first established in 2004. The economic free-zone caters to firms operating within the Middle East, South Asian and African regions. The number of businesses registered within the free zone has increased by 25% since 2023. In November 2022, the DIFC recognized Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). The following year, it added Toncoin (TON) and Ripple’s XRP, together with ZETA, the native token of the ZetaChain network. In 2024, the DFSA amended its crypto regulations to allow foreign funds to invest in recognized crypto tokens, while enabling domestic qualified investor funds to invest in unrecognized tokens.Although the regulatory approach taken by the authorities in Dubai accommodates stablecoins, algorithmic stablecoins are prohibited.

Crypto infrastructure, mining and investment firm Phoenix Group, a company based in the United Arab Emirates (UAE) and publicly listed on the Abu Dhabi Securities Exchange (ADX), has established a $150 million crypto treasury.Photo by Jievani Weerasinghe on UnsplashFirst ADX-listed firm to establish crypto treasuryThe development emerged as the company released its results for Q2 2025. Phoenix Group explained in a press release that its activities in Q2 led to it becoming the first ADX-listed company to establish a strategic crypto treasury with Bitcoin (BTC) and Solana (SOL) holdings valued at $150 million. Phoenix asserted that unlike its competitors which are burdened by debt, it has a healthy balance sheet, with debt of just $16 million. This has enabled it to pursue the establishment of a strategic crypto reserve. The company is also expanding into AI-related activities, with plans to repurpose part of its U.S. infrastructure. That adjustment will allow the firm to establish a multi-use compute facility, enabling it to build out its AI vertical. Phoenix Group Co-Founder and CEO Munaf Ali said that Phoenix is working towards building out one gigawatt of hybrid infrastructure by 2027. Ali also commented on the pursuit of a crypto treasury, stating:“Holding Bitcoin and other strategic digital assets isn’t just about exposure. It’s about alignment. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.”DWF Ventures, the ventures arm of crypto market maker DWF Labs that relocated its headquarters from Singapore to Abu Dhabi earlier this year, released a report in June revealing that publicly-listed companies that have adopted a crypto treasury strategy have amassed holdings of $76 billion in crypto. Phoenix Group has disclosed that to date, it has accumulated 514 Bitcoin and over 630,000 Solana with a view towards holding these digital assets in the long term. Earlier this year, American digital asset investment firm Sarson Funds outlined that the UAE is playing a significant role in advancing Bitcoin adoption at a corporate level in the context of the ongoing trend towards the pursuit of a Bitcoin corporate treasury strategy. Miners accumulatingPhoenix Group isn’t the only company involved in crypto mining to establish a crypto corporate treasury recently. In June, American miner BitMine Immersion Technologies disclosed that it was raising $18 million through a public share offering to buy Bitcoin. Since then, it has been accumulating Ether (ETH). As of July 24, the firm held over 300,000 ETH, with plans to raise $4.5 billion to fuel further ETH purchases. MARA Holdings, a publicly-listed American Bitcoin miner, has also confirmed that its treasury now extends beyond Bitcoin that it mined itself. Phoenix Group confirmed that it mined 336 BTC in Q2, with 689 BTC mined over the course of H1 2025. Founded in 2017, the firm debuted on the ADX in December 2023 with its stock immediately surging by 50% from its initial public offering (IPO) launch price. The firm’s share price has also performed well in 2025, surging 72% from April to June.