Hong Kong Web3 Daily Must-Read: Nine European banks join forces to issue MiCA-compliant euro stablecoin, South Korean internet giant Naver reaches equity swap agreement with Upbit.

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2 hours ago

整理:Nona,Techub News

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[]( RedotPay completes $47 million financing with a valuation of over $1 billion, led by Coinbase Ventures

Hong Kong-based stablecoin payment company RedotPay has completed a strategic financing round of $47 million with a valuation of over $1 billion. This round was led by Coinbase Ventures, with participation from Galaxy Ventures and Vertex Ventures.

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]( 105.89 Bitcoins, total value approximately $12 million

The Hong Kong-listed company International Commercial Settlement (00147.HK) announced that its joint venture Keen Golden has acquired a total of 105.88972 Bitcoins on the open market, with a total value of approximately $12,000,000 (equivalent to 93,600,000 HKD).

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[DAT

]( Selected Activities in Hong Kong for September

We have specially compiled noteworthy activities in the crypto field in Hong Kong for September, which will open a window to the future of Web3 for you.

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[]( Selected Activities in Hong Kong for September

We have specially compiled noteworthy activities in the crypto field in Hong Kong for September, which will open a window to the future of Web3 for you.

Among all the risks faced by Digital Asset Treasury (DAT), legal and regulatory risks are the most fundamental, unpredictable, and destructive. It hangs like the "Sword of Damocles" over all adopters, potentially leading to asset freezes and hefty fines, and is a force capable of causing an entire business model to collapse instantly.

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Among all the risks faced by Digital Asset Treasury (DAT), legal and regulatory risks are the most fundamental, unpredictable, and destructive. It hangs like the "Sword of Damocles" over all adopters, potentially leading to asset freezes and hefty fines, and is a force capable of causing an entire business model to collapse instantly.

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[](

Among all the risks faced by Digital Asset Treasury (DAT), legal and regulatory risks are the most fundamental, unpredictable, and destructive. It hangs like the "Sword of Damocles" over all adopters, potentially leading to asset freezes and hefty fines, and is a force capable of causing an entire business model to collapse instantly.

<h3 dir=)[The official website of the Ohio state government announced that Ohio Secretary of State Frank La Rose stated, "Today, the state deposit board unanimously approved a vendor to support the use of cryptocurrencies, including Bitcoin, for state government fees and service payments. My office handles hundreds of thousands of transactions each year, and I commend the board for taking bold action to keep us at the forefront of the emerging digital economy."

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[](<p class=)[Nine European banks, including ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International, announced the establishment of a new company, planning to issue a euro stablecoin regulated by MiCA in the second half of 2026. The company will apply for an electronic money institution license from the Dutch central bank, aiming to become the European digital payment standard and open up for more banks to join. The stablecoin will support low-cost, near-real-time cross-border payments and digital asset settlements.

]( MiCA compliant euro stablecoin

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[]( MiCA compliant euro stablecoin

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The IRS has released a draft of Form W-9 for 2026, which is an important document for collecting taxpayer identification information. New digital asset compliance provisions require U.S. brokers to collect and verify customer Tax Identification Numbers (TIN) in transactions involving cryptocurrencies, NFTs, and other digital assets to strengthen tax reporting. The draft also clarifies specific guidelines for sole proprietors and disregarded entities when filling out TINs, reducing the risk of backup withholding due to incorrect TINs. The new regulations will take effect on January 1, 2026, and businesses need to update compliance processes, while individuals and businesses should ensure TIN information is accurate.

<div class=)[U.S. Senate Finance Committee Chairman Mike Crapo announced that a hearing titled "Review of Digital Asset Tax Policy" will be held on October 1, 2025, at 10 AM Eastern Time in Washington. Representatives from Coin Center, ASKramer Law, Coinbase, and the American Institute of CPAs will testify on the inclusion of cryptocurrencies and blockchain assets in the federal tax code. This discussion aims to modernize policies regarding compliance issues in the global crypto market, which has a total scale of $25 trillion, based on previous House hearings and recommendations from the AICPA.

]( Hearing on cryptocurrency taxation to be held on October 1<p class=)

[Project/Company Updates]( Hearing on cryptocurrency taxation to be held on October 1<p class=)

[]( The first Bitcoin staking ETP launched by DAO is now live on the London Stock Exchange

The first Bitcoin staking ETP launched by Core DAO is now live on the London Stock Exchange.

M2 Capital Limited, the investment arm of UAE's M2 Holdings, has invested $20 million to purchase the stablecoin protocol Ethena's token ENA. M2 Holdings' subsidiary M2 Global Wealth will integrate Ethena into its wealth management products. The group stated that this provides clients with a regulated way to gain exposure to emerging digital assets. M2 CFO Kim Wong stated that this transaction sets a new standard for trust and security in the regional market.

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]( Melanion Capital's board approves raising €50 million for Bitcoin purchases

The board of French investment company Melanion Capital plans to raise €50 million, all of which will be allocated for Bitcoin investments. The company aims to position itself as a private asset management firm implementing a Bitcoin Reserve Operating Model (BTOC).

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[In-Depth & Outlook]( Melanion Capital's board approves raising €50 million for Bitcoin purchases

The board of French investment company Melanion Capital plans to raise €50 million, all of which will be allocated for Bitcoin investments. The company aims to position itself as a private asset management firm implementing a Bitcoin Reserve Operating Model (BTOC).

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[]( Sounding the Horn: Perp Dex ignites the second on-chain exchange war

ASTER is launching a fierce attack on the core territory of CEX with self-custody, high transparency, and extreme performance. After the collapse of FTX, users have become unprecedentedly wary of the "counterparty risk" of CEX, and Perp DEX precisely addresses this pain point.

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Naver, as a South Korean internet giant, has a large user base and rich application scenarios. Its subsidiary Naver Financial has accumulated certain experience in payments and fintech, while Naver's own search, shopping, and social businesses can provide a broad landing space for the Korean won stablecoin, forming a complete ecological closed loop from C-end daily payments to B-end commercial settlements.

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Naver, as a South Korean internet giant, has a large user base and rich application scenarios. Its subsidiary Naver Financial has accumulated certain experience in payments and fintech, while Naver's own search, shopping, and social businesses can provide a broad landing space for the Korean won stablecoin, forming a complete ecological closed loop from C-end daily payments to B-end commercial settlements.

As of the time of writing, GriffinAI has taken a series of emergency measures in response to this malicious issuance incident: formally requesting all exchanges to suspend trading and deposit/withdrawal services for GAIN on the BNB Chain to block the attackers' trading operations; removed the official liquidity of GAIN on the BNB Chain, and emphasized that GAIN on Ethereum was not affected by this incident.

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