U.S. Bank, the fifth-largest commercial bank in the country, has initiated testing for the issuance of bank-grade stablecoins on the Stellar network.

ARK Invest continued increasing its crypto equity holdings, adding a combined $9.1 million in shares of Circle (CRCL) and Bullish (BLSH) on Tuesday.

Prediction market platform Polymarket has secured an Amended Order of Designation from the CFTC, clearing the way for a return to the U.S.

Top stories in the Crypto Roundup today:

• U.S. Bank Tests Custom Stablecoin Issuance on Stellar Network
• Ark Adds $9.1M in Circle (CRCL) and Bullish (BLSH) 
• Polymarket Secures CFTC Approval for Regulated U.S. Return

U.S. Bank Tests Custom Stablecoin Issuance on Stellar Network

U.S. Bank has started testing the issuance of custom stablecoins on the Stellar network, teaming up with PwC and the Stellar Development Foundation (SDF) to explore whether a traditional bank can safely issue programmable money on a public blockchain.

The pilot by the fifth-largest U.S. commercial bank explores how features like asset freezing and transaction reversal could serve regulatory needs. 

U.S. Bank’s digital asset head, Mike Villano, highlighted in a blog post that Stellar’s built-in ability to freeze or unwind transactions aligns with compliance requirements, such as Know-Your-Customer (KYC), which are critical features if banks are to adopt blockchain rails for mainstream use.

Stablecoins are gaining traction as potential tools for faster, cheaper payments across borders, with financial institutions increasingly exploring them for treasury management. Cross-border stablecoin payments could hit $1 trillion in annual volume by the end of the decade, according to Keyrock projections.

Polymarket Secures CFTC Approval for U.S. Return

Polymarket received an Amended Order of Designation from the U.S. Commodity Futures Trading Commission (CFTC) this week, clearing the way for the prediction-market platform to operate as a fully regulated U.S. platform after blocking domestic users in 2022.

The approval allows Polymarket to offer intermediated access in the U.S., meaning bettors will be able to participate through futures commission merchants and traditional brokerage channels. The designation brings Polymarket under the full regulatory framework applied to federally supervised exchanges, including enhanced surveillance, clearing procedures, and Part 16 reporting obligations.

“People rely on Polymarket because we provide clarity where there is confusion,” founder and CEO Shayne Coplan said in a press release, adding that the decision reflects growing regulatory acceptance of prediction markets as a mature financial product. 

Ark Adds $9.1M in Circle (CRCL) and Bullish (BLSH)

ARK Invest, led by Cathie Wood, continued its accumulation of crypto equities on Nov. 25, purchasing about $7.6 million of Circle (CRCL) and $1.5 million of Bullish (BLSH) stock.

The acquisition occurred as crypto prices remained soft, with bitcoin hovering near $87,500. Bullish closed at $40.50, down 2.41%, while Circle fell 3.62% to $70.11. In addition to the $9.1 million combined buy, Ark also purchased 15,197 shares of Coinbase’s (COIN) stock, worth roughly $3.86 million.

The trades follow Ark’s larger Nov. 20 dip buy. In total, ARK now holds $151.8 million of BLSH shares across its various funds. Its largest crypto holdings remain Coinbase, which accounts for 4% of its total holdings ($506.4 million), and Circle, which comes in at 2% of holdings (around $255 million).

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