Search results for Mizuho Securities
Crypto
Circle ahead of Coinbase renegotiation; Japan\'s Mizuho Securities warns on USDC profit model
Mizuho Securities in Japan cut its investment rating on USDC issuer Circle to underperform from neutral, warning that competition could intensify and USDC could become more commoditised if a U.S. Clarity bill passes. It flagged OpenUSD as a key threat and said Coinbase could gain leverage in the next revenue-sharing talks with Circle. Mizuho also cited potential limits on yield-like returns, entry by major banks and longer-term pressure on net profit margins.
Finance
Mirae Asset Securities secures 4,751 billion won worth of SpaceX IPO allocation
Mirae Asset Securities secured about 4,751 billion won worth of shares in SpaceX\'s initial public offering, after joining the underwriting syndicate. SpaceX filings show the firm was allocated 2,314,815 of the 555,555,555 Class A common shares being sold. With an offer price of $135 per share, the allocation amounts to about $312.5 million. SpaceX plans to raise $75 billion in the IPO.
Crypto
Japan to allow bitcoin buys via securities accounts as SBI, Rakuten pursue in-house trusts
Japan’s online brokerages SBI Securities and Rakuten Securities are developing in-house bitcoin and ethereum investment trusts for retail investors. The products would allow clients to gain crypto exposure within existing securities accounts, without opening a separate exchange account or wallet. The move comes as Japan’s Financial Services Agency is reported to be reviewing rules that could allow investment trusts and exchange-traded funds to include crypto assets.