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Bybit launched a Pump.fun (PUMP) token sale but restricted EU users due to MiCA regulations.
Circle and OKX partner, expanding direct USDC-to-USD conversions for 60 million users.
Ripple’s RLUSD stablecoin hits $500M market cap and integrates with Transak globally.
The crypto market today saw a notable increase in ecosystem-related announcements, both regarding access to the underlying cryptocurrency market and changes in regulations. Three significant developments include Bybit completing the sale of the Pump.fun (PUMP) token while excluding European customers.
Additionally, Circle has partnered with OKX to increase the supply of USDC. Furthermore, Ripple's RLUSD stablecoin has reached a market capitalization of $500 million, supported by Transak. These actions illustrate the shifting dynamics in decentralized finance, platform compliance, and the growing demand for blockchain-based assets.
Let’s take a look at the most significant developments in crypto news today.
Bybit has announced the upcoming Pump.fun (PUMP) token sale, confirming that it will start on Saturday at 14:00 UTC and end on Tuesday. During the sale, 150 billion tokens will be offered at a fixed price of $0.004 USDT per token, or 15% of the total supply.
Nevertheless, Bybit also explained that users registered on its platform, regulated by the EU, Bybit.eu, will not be able to participate. This limitation is based on the requirements of the European Union Markets in Crypto-Assets Regulation (MiCA). The trade will enable buying with USDT, USDC, Solana (SOL), and bbSOL, allowing access through stablecoins and Solana-native tokens.
Pump.fun is a non-code memecoin launchpad powered by Solana, which launched in January 2024 and has experienced steady growth in popularity. Its interface, which made it gamified, allowed users to create tokens even without codes.
Although recent reports indicate that the volume has dropped by 75% since January, the data provided by DefiLlama shows that this platform has recorded over $715 million in revenues. Speculative risks have been a growing concern for users and analysts, with reports of net losses among casual investors.
Also Read: Bitcoin Price Holds Above $108K as Markets Brace for Tariff Decision
In a separate development, Circle and crypto exchange OKX unveiled a strategic partnership to simplify access to the USDC stablecoin. The partnership will allow direct one-to-one USDC/U.S. dollar swaps on the OKX platform. The integration serves more than 60 million users and aims to facilitate on-ramps and off-ramps.
According to Jeremy Allaire, Circle's CEO, the demand for USDC continues to rise among global businesses and retail users for reliable, blockchain-based money. The alliance will also introduce mutual educational programs aimed at traders and developers. Circle is seeking to expand the utility of its USDC stablecoin by establishing a U.S. national bank charter and lobbying for stablecoin oversight in Congress.
The USDC circulation supply is already above $61 billion, and Circle recently completed its IPO, with a valuation exceeding $51 billion. The transfer suggests that the issuer is seeking to solidify its position in the stablecoin industry as global regulations evolve.
In addition to the developments, Ripple’s enterprise-grade stablecoin, Ripple USD (RLUSD), reached a market cap of $500 million this week and became available on Transak, a major crypto payments platform. Transak now supports RLUSD purchases in 64 countries, including the United States, the United Kingdom, and the European Union.
The integration enables purchases through Apple Pay, Google Pay, Visa, Mastercard, and other methods. Transak confirmed that off-ramp functionality for RLUSD will roll out later in 2025. Meanwhile, Ripple has selected BNY Mellon as the custodian for RLUSD reserves, aiming to ensure secure and regulated asset backing.
Since its debut in late 2024, RLUSD has been gaining steam. According to CoinGecko data, the market cap has increased by 62% within the last month. The token was created for institutional applications, but retail adoption is growing due to expanded wallet and DApp integrations via Transak.
Also Read: Crypto Prices Today: Bitcoin Price at $108,571, XRP Up 2.4%, ETH Soars 2.31%
