Tech Headlines

1. Google Unveils In-House Native Blockchain Network GCUL

According to Rich Widmann, Head of Web3 Strategy at Google Cloud, the company is developing a permissioned blockchain called Universal Ledger (GCUL) for financial institutions, supporting on-chain banking funds, cross-asset settlements, and programmable payments. Google’s core assumption for entering the blockchain space is that banks must transform in the digital currency wave, upgrading from traditional clearing nodes to on-chain asset issuers and distributors. GCUL offers compliance embedding, Python smart contracts, and API access, allowing banks to migrate deposits, securities, and clearing operations on-chain and control cash flow actively. An article on Google Cloud's official website, "Beyond Stablecoins: The Evolution of Digital Currencies," notes, "The fragmentation of payment systems and inefficient settlements could cause $2.8 trillion in losses by 2030, while the growth of stablecoins validates market demand."

Unlike Stripe's closed-loop ecosystem, Google aims to provide a neutral underlying infrastructure and has currently launched a tokenization pilot with CME, targeting institutions that wish to engage in crypto payments without building their own chains.

https://www.chaincatcher.com/article/2201919

2. Vercel's AI Front-End Tool v0 Now Accepts USDC for Purchasing Credits

American cloud development platform Vercel’s AI front-end tool v0 has begun accepting USDC stablecoin for purchasing v0 credits. v0 is positioned as a full-stack development experience platform created by Vercel, a provider of website deployment and front-end development services. This move marks the start of exploring crypto payment options in the development tools space, providing more payment channels for developers.

https://www.chaincatcher.com/article/2201024

3. Stablecoin Issuers Circle and Paxos Collaborate with Bluprynt to Test New Technology for Verifying Crypto Payments and Exploring Stablecoin Payment Traceability and Authenticity

On August 28, Bloomberg reported that stablecoin giants Circle Internet Group Inc. and Paxos Trust Co. have trialed a new method to prevent counterfeits and assist companies in verifying their digital asset holdings. The two firms partnered with fintech startup Bluprynt, founded by Professor Chris Brummer of Georgetown Law School, employing cryptographic and blockchain technology to provide issuer verification during stablecoin issuance. The pilot project utilizes Bluprynt's technology to trace tokens back to verified issuers. Brummer stated that Bluprynt's technology "provides source proof in advance, reduces complexity, and delivers the transparency required for regulators and investors." He noted that this helps minimize losses due to counterfeit tokens and impersonation attacks.

https://www.panewslab.com/zh/articles/6f7ec78c-9fbc-4a90-a6d0-82ede8236dc4

Industry Dynamics

1. Hong Kong Monetary Authority to Implement Basel’s New Crypto Asset Capital Rules from January 1, 2026

According to Caixin, the Hong Kong Monetary Authority has recently issued a circular confirming that it will fully implement bank capital rules based on the Basel Committee's crypto asset regulatory standards starting January 1, 2026.

Fei Si, a partner at King & Wood Mallesons and lecturer at the University of Hong Kong's Faculty of Law, told Caixin that the new regulations set the risk weight for crypto asset exposures using unauthorized blockchain technology at a maximum of 1250%, meaning banks must hold capital at a ratio of at least 1:1 for these exposures. Such high regulatory capital requirements will discourage many banks from holding these crypto assets.

https://www.panewslab.com/zh/articles/c4b44ab9-3021-4e4a-8b80-1b54655d4e77

2. Former PBoC Governor Zhou Xiaochuan: A Multi-dimensional Perspective on Stablecoins

Current discussions about stablecoins often stem from a single perspective. To analyze the operation and future prospects of stablecoins, a multi-dimensional and multi-perspective approach is necessary. To promote the development of digital payment systems in a healthy manner, multiple performance dimensions and balances must be considered.

https://mp.weixin.qq.com/s/FsfMgTBpeqLOrYAq3XO6vw

3. Former Vice Chairman of CBIRC: Suggests Granting Greater Reform Experiment Rights to the Greater Bay Area

According to Jin10 data, former CBIRC Vice Chairman Huang Hong stated at the 7th Guangdong-Hong Kong-Macao Greater Bay Area Financial Development Forum that opening up is vital for the survival and development of the financial sector in the Greater Bay Area. Currently, the financial industry in the Greater Bay Area is large, diverse, and highly internationalized, placing it among the top global regions. In terms of deepening the Greater Bay Area's openness, Huang suggested strongly supporting pilot reforms, granting the region more reform experimental rights, and allowing exploration and experimentation in areas like fintech, digital finance, and cross-border finance. For example, creating a Greater Bay Area fintech reform experimental zone, implementing cross-border payments in digital RMB, and promoting the global allocation of financial assets.

https://foresightnews.pro/news/detail/82688

4. U.S. Commerce Department First Puts GDP Data on Chain Across Multiple Blockchain Platforms

According to Foresight News, the U.S. Commerce Department announced that it has released the GDP data for Q2 2025 on nine different blockchains, including Bitcoin, Ethereum, Solana, Stellar, TRON, Avalanche, Arbitrum One, Polygon PoS, and Optimism. The data is further disseminated through coordination with Pyth and Chainlink oracles. Trading platforms Coinbase, Gemini, and Kraken assisted in the data release by the Commerce Department. The Department plans to continue innovating and expanding the range of future data sets (like GDP) to include more blockchains, oracles, and trading platforms. This initiative aims to enhance data transparency and verifiability, with plans to expand to more blockchains and platforms.

https://foresightnews.pro/news/detail/82548

In-Depth Analysis

1. Binance Founder Changpeng Zhao Discusses Crypto Finance's Core at Hong Kong Forum

On August 27, at the "Hong Kong Crypto Finance Forum," Binance founder Changpeng Zhao shared his insights on the future development of the industry.
Zhao focused on five key themes: the evolution of stablecoins and the strategic position of the U.S. dollar, regulation and liquidity bottlenecks of RWA, the potential of decentralized exchanges, the new investment direction that the digital asset treasury (DAT) model provides for traditional investors, and the transformation of trading models brought by the integration of AI and Web 3.0.
Zhao's insights not only reflect a deep understanding of current industry development but also demonstrate his strategic thinking about the future landscape of digital finance. These insights are valuable for understanding trends and investment opportunities in the crypto finance industry.

https://foresightnews.pro/article/detail/89621