On December 12, 2025, the U.S. Office of the Comptroller of the Currency conditionally granted national trust bank charters to entities tied to BitGo, Circle, Fidelity Digital Assets, Paxos, and Ripple. These institutions will operate as trust banks focused on custody services, joining more than 60 existing national trust banks already overseen by the regulator. The OCC retains authority to amend, suspend, or revoke the conditional approvals before they become final.

Galaxy Digital issued short-term commercial paper on December 11, 2025, raising $50M through debt tokenized on the Solana blockchain. J.P. Morgan arranged the transaction, while Coinbase acted as custodian and lead investor alongside Franklin Templeton. The bank said that proceeds from both issuance and redemption will be settled in USDC.

MegaETH will launch its pre-deposit mainnet bridge on November 25, the project announced November 20. The program features a $250M total deposit cap and operates on a first-come, first-served basis. Depositors will receive consideration for future rewards.

Circle Internet Group has launched public testnet access for Arc, a Layer 1 blockchain designed as economic infrastructure for stablecoins. More than 100 organizations from finance, payments, and technology sectors are participating in the testing phase. Arc features stablecoin-denominated transaction fees, sub-second settlement, and optional privacy mechanisms.