PayPal co-founder and other tech tycoons are planning to build a new bank to serve crypto and AI startups and include stablecoins in their balance sheet
7 hours ago
Odaily News PayPal co-founder Peter Thiel and several tech billionaires have jointly launched a new bank called Erebor, which aims to fill the gap left by the collapse of crypto-related Silicon Valley banks. Erebor plans to serve venture-backed startups in the fields of artificial intelligence, crypto, manufacturing and defense, and has applied for a national banking license from the U.S. Office of the Comptroller of the Currency. The two co-CEOs come from software company Argus and crypto payment company Circle. The bank may include stablecoin assets, but details have not yet been announced. (Decrypt)
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2025-07-03 08:14:22
Gate launches xStocks US stock zone: Opening a tokenized US stock contract market, 24/7 trading
Odaily News Gate officially launched the xStocks U.S. stock trading zone, supporting both spot and contract markets. The first batch of support includes 8 popular U.S. stock targets including COINX, NVDAX, CRCLX, AAPLX, METAX, HOODX, TSLAX, GOOGLX, etc. Users can directly trade tokenized U.S. stocks through crypto assets such as USDT. At the same time, Gate Alpha has also opened the xStocks trading function. The first batch of online targets include MSTRx, CRCLx, SPYx, NVDAx, TSLAx, and AAPLx, further enriching the user's choice space in on-chain asset trading and strategy exploration. Gate has become the world's first trading platform to support the encrypted U.S. stock contract market. Gate xStocks U.S. stock zone adopts a compliant physical asset tokenization model. All online tokens correspond to publicly traded stocks, have full asset collateral, support free transfer and on-chain transactions, and can achieve seamless integration across blockchains and multiple ecosystems. Gate's US stock trading is open to global users, has no KYC restrictions, supports 24/7 trading and other functions, greatly reducing the investment threshold. With the Gate brand upgraded to Gate.com in 2025, the platform's spot trading volume and liquidity ranked second in the world, and the contract market grew steadily, ranking among the top five in the world. Gate is accelerating the strategic implementation of the crypto asset platform in the global financial infrastructure.
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