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Crypto

Circle may benefit from CLARITY Act provision, Bernstein says

A provision in the CLARITY bill being discussed in the U.S. Senate could work in favor of USDC issuer Circle, an analysis said. Bernstein said the measure could limit interest-rate competition among stablecoin issuers by banning deposit-like interest on simply held balances while allowing rewards tied to transactions and usage. It said Circle’s partner-based rewards model may fit within the permitted scope, helping protect returns from USDC reserves, though the bill’s passage remains uncertain.

Finance

PG industry polarisation deepens as revenue grows and profitability stagnates

South Korea's payment gateway (PG) market is growing quickly, but profitability is not improving, deepening polarisation within the industry. The number of registered PG firms rose to 190 at end-2024, while sector revenue climbed to 9 trillion won. Gross profit stayed around 2.1 trillion won. The Financial Supervisory Service highlighted difficulties for smaller firms, as tighter rules after the T-Mep settlement issue and higher capital requirements add to pressures.