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Crypto

Chainlink, Cardano and six groups ask SEC to codify digital commodities as non-securities

Six blockchain organisations including Chainlink Labs and the Cardano Foundation urged the U.S. Securities and Exchange Commission to formally classify digital commodities as non-securities and reflect that directly in its rules. They submitted a joint letter on Oct. 20 after the agency’s public comment period on proposed crypto asset rules closed. The groups said interpretive guidance alone leaves market participants exposed to legal uncertainty and called for clearer standards for secondary-market trading, staking and other activities.

Crypto

Ethena launches Ethena Pay beta on Avalanche, expands USDe payments

Ethena has started a beta service for Ethena Pay, linking its stablecoin USDe directly to consumer payments using Avalanche as a single settlement layer. The self-custody iOS app begins with 400 early-access users and targets 49 countries, with the United States, the European Union, Britain and Canada to be supported later. The service combines wallet transfers, fiat on-ramps and a Visa card, with yields and cashback subject to tiered caps and conditions.

Crypto

Won stablecoin pilots enter proof stage as industry tie-ups accelerate

Partnerships among banks, fintechs, platforms and blockchain firms around won-denominated stablecoins are accelerating in the second half, with payment and settlement use cases moving into more concrete pilot tests. Companies are running proofs of concept on real-time settlement, on-chain payment flows and links between digital wallets and existing card networks. Cross-border remittances are also emerging as a key testing area. Debate continues over regulation, including issuers, reserve assets and approval requirements.