分类： Business

• MAS expands Ripple’s payment permissions for XRP and RLUSD services.
• The approval boosts Ripple’s role in fast, regulated APAC cross-border payments.
• Regional digital asset activity rises as Ripple deepens Singapore investment.

The Monetary Authority of Singapore (MAS) has approved an expanded range of payment activities for Ripple Markets APAC, the company’s local subsidiary.

This approval allows Ripple to grow its regulated payment services for banks, fintechs, and corporates in one of the world’s most tightly supervised financial markets.

Ripple can now offer a wider suite of digital payment token services linked to XRP and RLUSD.

It also gives the firm more room to deliver cross-border payment solutions that rely on digital assets to settle transactions faster and at a lower cost.

Ripple’s leaders say this development reflects the value of Singapore’s clear regulatory stance.

President Monica Long described MAS as a global benchmark for transparency and stable rules.

She said the decision strengthens Ripple’s plan to deepen its investment in the market and build infrastructure that supports faster global money movement.

MAS’s frameworks under the Payment Services Act give digital asset firms defined rules covering token issuance, custody, and payments.

Expansion aligned with rising APAC demand

The approval marks a surge in digital asset activity in the Asia-Pacific region, with a year-over-year increase of about 70%.

Ripple says Singapore sits at the centre of this growth thanks to its advanced policies and its early embrace of regulated digital token services.

Fiona Murray, Ripple’s Vice President and Managing Director for the region, said the expanded license equips the company to serve the institutions driving that growth.

She noted that regulated payment rails remain essential as cross-border activity accelerates across regional markets.

Ripple first established its Asia-Pacific headquarters in Singapore in 2017.

The company later secured a full MPI license, placing it among a select group of blockchain-focused firms approved to provide digital token services in the country.

Broader capabilities for institutional clients

With the updated permissions, Ripple can now support end-to-end payment flows through a single integration.

This includes collection, holding, token swaps, and payouts.

The system enables clients to avoid multiple infrastructure partners and reduces their reliance on additional banking relationships.

Ripple Payments, the company’s global solution, merges digital tokens with a payout network that handles conversion, compliance, and settlement operations.

By absorbing the technical and blockchain complexity, Ripple enables institutions to offer digital payment services more efficiently.

The company’s stablecoin, RLUSD, sits at the core of several of these services.

The stablecoin recently received recognition in Abu Dhabi as an Accepted Fiat-Referenced Token, allowing licensed firms in the Abu Dhabi Global Market to use it for regulated financial activities.

This adds momentum to Ripple’s broader expansion across the UAE and Asia.

• The bank partnered with Bastion and took part in its $14.6 million raise.
• Sony created a Web3 unit named BlockBloom to expand digital asset services.
• Sony Financial Group’s recent spin-off gives Sony Bank strategic freedom.

Sony’s plan to introduce a US dollar stablecoin is emerging as a major step in how the company connects its entertainment businesses with its financial arm.

Instead of treating payments as a background function, Sony is designing a system that blends blockchain, digital assets, and its global user base into a single Web3 network, according to a Nikkei report.

The project centres on Sony Bank’s expansion into the US, where customers remain a key part of the group’s external sales.

With a launch planned for 2026, the stablecoin is being built as a payment tool that supports gaming, anime, and other digital purchases across the Sony ecosystem.

Sony Bank’s move signals the company’s broader shift into digital finance, with Web3 technologies becoming an important layer in how it delivers future services.

Stablecoin for the wider Sony ecosystem

Sony Bank, the online lender under Sony Financial Group, is preparing to roll out the stablecoin in the US through a dedicated unit.

The token will be pegged to the US dollar and is expected to support purchases of PlayStation games, subscriptions, and anime content.

This payment option will sit alongside existing methods such as credit cards.

The plan is aimed at US customers, who account for around 30% of Sony Group’s external sales.

By adding a blockchain-based token to the mix, Sony aims to reduce fees associated with card networks and increase the speed and efficiency of transactions.

Sony Bank applied for a banking licence in the US in October as part of this expansion.

The bank has also partnered with Bastion, a US stablecoin issuer.

Sony’s venture arm joined Bastion’s $14.6 million fundraising round, which was led by Coinbase Ventures.

Web3 unit builds the foundation

Sony Bank’s shift into stablecoins is part of a wider Web3 push that started earlier this year.

The bank established a dedicated Web3 subsidiary in June, after first outlining its plans in May.

In its announcement, the bank said digital assets built on blockchain technology were becoming part of a growing number of services and business models.

It pointed to wallets for storing NFTs and cryptocurrency, and exchange providers, as sectors rising in importance.

These tools are central to Sony’s Web3 plans because they allow digital assets and tokens to move easily across platforms used by fans, artists and creators.

The new Web3 unit was later named BlockBloom.

Its goal is to build an ecosystem that links digital and physical experiences with NFTs, fiat currency, and digital currency.

BlockBloom’s work now connects directly with the stablecoin initiative, which is expected to become one of the core payment tools inside this ecosystem.

Restructuring strengthens the digital shift

Sony Bank is pursuing this strategy shortly after a major structural change inside its parent company.

Sony Financial Group was separated from Sony Group and listed on the Tokyo Stock Exchange in September.

The spin-off was designed to separate the financial arm’s operations and balance sheet from the wider conglomerate.

This independence now gives Sony Bank more space to pursue long-term digital finance projects, including the stablecoin.

The timing indicates that Sony Bank is using the separation to accelerate its push into new markets.

With the stablecoin aimed at the US and supported by Bastion, the bank is positioning itself to become a more competitive player in digital payments linked to entertainment and gaming.

Connecting US users with cross-platform payments

Sony’s stablecoin strategy is closely tied to its US users, who make up one of its largest customer segments.

By focusing the project on this market, Sony is aligning its payments network with regions that already engage heavily with blockchain and digital assets.

The stablecoin is expected to interact with multiple Sony services, creating a system where users can move funds seamlessly between gaming, subscriptions, and other digital platforms.

It also allows Sony to test Web3 payments at scale, backed by its gaming division, entertainment content, and new digital finance capability.

With the launch planned for 2026, Sony is building the early layers of a cross-platform structure that links Web3 payments with its broader entertainment network.

• The new legislation builds on the Digital Asset Basic Act by adding detailed rules for stablecoin oversight.
• The framework outlines how global stablecoins like USDT and USDC will be treated in Korea.
• Officials warn delays could leave Korea behind other regions that tightened rules in 2025.

South Korea is taking a major step toward formalising how won-based stablecoins will be issued and supervised, after lawmakers settled a long-running dispute over who should control the process.

A closed-door meeting brought clarity to the core question of authority, with policymakers agreeing that banks should lead the effort while still allowing tech firms to participate.

The move comes at a time when crypto adoption is rising among people aged 20 to 50, and when global players continue to dominate stablecoin markets.

With a December deadline approaching, officials want to finalise a structure that supports innovation but keeps monetary stability at the centre of regulation.

Consortium model defines the role of banks and tech firms

A Dec. 1 report by Maeli Business Newspaper said lawmakers agreed on a consortium model where banks maintain majority control of stablecoin-issuing entities.

Tech companies will still be able to participate, but financial institutions will take the lead to reduce systemic risks.

The goal is to create a Korean-style stablecoin framework that mirrors the safeguards of traditional finance, with clear rules governing reserves, issuance, and supervision.

The model was designed to align with the Bank of Korea’s concerns about protecting the money supply.

It also provides a common structure for private companies, reducing the risk of fragmented products entering the market without consistent stability mechanisms.

By setting shared standards early, policymakers hope to shape a domestic stablecoin ecosystem that can support innovation without compromising financial security.

Government faces Dec. 10 deadline for its proposal

Senior Democratic Party lawmaker Kang Joon-hyun said the government must submit its proposal by Dec. 10. If it misses the deadline, lawmakers will move ahead with their own version of the bill.

The aim is to pass the legislation during the National Assembly’s January extraordinary session, after consultation with the ruling People Power Party and the president’s office.

This new act expands on the Digital Asset Basic Act passed earlier this year.

That earlier law established licensing rules for issuers, requirements for reserve protection, and compliance obligations for virtual asset service providers.

The upcoming bill fills in the remaining regulatory gaps by specifying how stablecoins should be managed when they operate like traditional financial instruments.

It also provides clearer guidance for US-based stablecoins such as USDT and USDC, which have become increasingly influential in Korea’s growing digital asset market.

Push to match progress in global markets

Officials warn that delays could leave Korean companies trailing behind their global competitors.

The US, EU, and Japan strengthened their stablecoin rules in 2025, creating a more defined landscape for exchanges and financial institutions.

Korean regulators want to avoid losing momentum, especially as domestic interest in crypto continues to rise.

The updated framework aims to reduce uncertainty for developers, financial firms, and exchanges.

By bringing digital assets closer to mainstream financial oversight, authorities hope to support responsible growth and give consumers access to well-regulated products.

The focus is on keeping the domestic market aligned with international standards while maintaining space for private-sector innovation.

Lawmakers discuss wider reforms on security and markets

The meeting also covered planned updates to financial security and capital-market rules.

After recent hacking incidents at major financial companies, officials intend to revise the Electronic Financial Transactions Act.

Proposed changes include tougher penalties and stronger enforcement following cyber breaches.

Lawmakers are also working with opposition parties on a set of capital-market reforms.

These include rules that would require mandatory tender offers in certain corporate situations.

They also plan to update share-allocation standards so that everyday investors have fairer access to offerings.

The goal is to improve transparency and strengthen market integrity as Korea reshapes its financial regulatory environment.

• The rules include licensing, AML checks, cold storage, and strict state authority over token issuances.
• Crypto assets are classified as backed or unbacked and are not legal tender in Turkmenistan.
• The move follows a Nov. 21 government meeting focused on digital asset policy.

Turkmenistan has taken a major step towards formalising its digital asset sector, joining a wave of countries introducing detailed crypto regulations as global frameworks evolve.

The move was confirmed in a Nov. 28 report by Business Turkmenistan, which said President Serdar Berdimuhamedov had approved a new law that will come into effect in 2026.

The legislation introduces a tightly controlled structure for digital assets in a country long known for strict information policies and limited access to outside technologies.

It places crypto exchanges, custodial services, and mining under clear state-defined rules, positioning Turkmenistan within a growing international effort to manage crypto adoption more systematically.

Sweeping rules

The new law establishes licensing procedures for exchanges and custodial platforms.

It sets know your client and Anti Money Laundering checks as standard requirements, along with mandatory cold storage obligations for service providers.

The framework also prevents credit institutions from offering crypto services. The state can stop, void, or enforce the refund of token issuances, placing digital asset activity squarely under government authority.

Mining is a central focus of the legislation. Individuals and organisations must register mining and mining pool operations. Covert mining activity is banned.

The central bank is also given the power to authorise distributed ledgers or operate its own, opening the door to permissioned systems that could direct transactions and digital asset activity through state-managed infrastructure.

Strict classifications

Turkmenistan’s law also defines the legal status of crypto assets. Digital currencies are not considered legal tender, currency, or securities within the country. Instead, the law divides them into two categories: backed and unbacked.

Regulators will later set rules for the liquidity of the backing, settlement requirements, and emergency redemption arrangements for assets in the backed category.

This structure hints at a system in which any asset with underlying backing will face closer supervision, while unbacked assets remain strictly delineated in legal terms.

The legislation was introduced following a Nov. 21 government meeting.

Deputy Chairman of the Cabinet of Ministers Hojamyrat Geldimyradov presented a report outlining the legal, technological, and organisational basis for the introduction of digital assets.

The report was accompanied by a proposal to establish a special State Commission that will oversee the sector and coordinate regulatory decisions as the framework is implemented.

Global context

Turkmenistan’s shift mirrors a wider push among governments to tighten their regulatory approaches to crypto and stablecoins.

Earlier this week, the United Kingdom’s tax authority outlined a new plan that allows decentralised finance users to defer capital gains taxes on crypto lending and liquidity pool activity until they sell the underlying token.

The move reduces the administrative burden on users and brings policy closer in line with how traditional assets are taxed.

In another development, Bank of England Deputy Governor Sarah Breeden said she expects the UK to move in parallel with the United States on stablecoin policies.

This suggests that major economies may establish similar frameworks as stablecoins become more integrated into payment and settlement systems.

International bodies are also reassessing earlier positions.

Erik Thedéen, governor of Sweden’s central bank and chair of the Basel Committee on Banking Supervision, recently indicated that the group may need a different approach to its current risk weighting for crypto exposures after some countries resisted adopting the 1,250% standard.

This reflects rising pressure for coordinated regulatory models as digital asset markets expand.

Political backdrop

The regulatory shift comes against the backdrop of Turkmenistan’s tightly controlled political landscape.

The former Soviet republic, home to around 6.5 to 7 million people, relies heavily on natural gas exports and maintains one of the world’s most centralised presidential systems.

It appears in lists of countries where X and Telegram are banned.

The country is also known for distinctive landmarks, including a permanently burning natural gas crater known as the door to hell, the white marble architecture of its capital, Ashgabat, and a national holiday dedicated to melons.

These features sit alongside heavy state oversight, making the introduction of a structured crypto law a notable change in approach.

• BNB traded above $880 as cryptocurrencies looked to bounce higher.
• The gains could see bulls target the $1,000 mark and beyond, helped by overall market sentiment.
• Technical indicators, however, paint a mixed picture.

BNB price is showing early signs of recovery amid a turbulent market week for altcoins, with the price having slipped off intraday highs of $903.

While prices hovered about 1.4% down in the past 24 hours, changing hands around $882, means bulls could eye a return to the key $900 mark and target $1,000.

Market optimism, institutional interest, and technical indicators could align for this to happen within the coming days or weeks.

Notably, the cryptocurrency’s resilience above $800 comes as Bitcoin stabilizes above $91,000 following a rebound from lows near $80,000.

While the market is mixed, bulls are showing resilience.

BNB price outlook

Although prices have dipped more than 35% from recent all-time highs, market experts remain bullish on BNB’s trajectory.

Even as short-term volatility persists, technical analyses suggest the token could reach an average price of $1,000 in the coming months.

Momentum could push the BNB price beyond the psychological level of $1,200 and then the ATH above $1,370.

Short-term, technical indicators support a mixed picture. BNB’s 50-day moving average is sloping and acting as a key hurdle around $1,050, while the relative strength index (RSI) at 40 signals neutral territory but with a potential dip before oversold recovery.

However, price saw a breakout above the resistance line of a falling wedge, and the MACD hints at a bullish crossover.

If BNB clears the $900 resistance, we could see a swift move to $1,000, potentially aligning with broader market stabilization.

As well as broader sentiment, BNB’s utility in the Binance ecosystem positions it for outperformance in a risk-on environment.

What’s bullish for BNB price?

Several key factors are converging to ignite BNB’s next leg higher, with the spotlight firmly on institutional inflows and whale dynamics.

At the forefront is the freshly filed VanEck BNB ETF, submitted to the SEC on November 21 for listing on Nasdaq.

The spot ETF would hold BNB directly, tracking the BNB Index without initial staking, although future yields via third-party providers could be added with notice.

If approved, VBNB could mirror the success of Bitcoin and Ethereum ETFs, unlocking billions in traditional capital and enhancing BNB’s legitimacy.

Many see this as a game-changer for altcoin exposure, and social hype has surged.

Broader market stabilization is another tailwind.

Bitcoin’s rebound, following recent dovish remarks from New York Fed President John Williams, helped bulls. This eased last week’s panic selling, where BTC plunged below $80,000.

Losses for BTC dragged altcoins down.

Exchange-traded product flows have also flipped positive after consecutive net outflows. Despite subdued large-whale demand overall, inflows at support levels around $800 suggest discounted buying ahead of a rally.

• The platform suspends trading across futures and FTX instruments.
• That followed a cooling issue at a CyrusOne data center.
• The disruption comes days after CME celebrated a record day for its crypto complex.

The Chicago Mercantile Exchange executed an unexpected trading pause on Friday after a CyrusOne data center overheated, sending major services and platforms offline. Today’s official X post confirmed:

Due to a cooling issue at CyrusOne data centers, our markets are currently halted.

A routine market session turned into chaos as futures linked to currencies, stock indices, Treasuries, and commodities stopped updating, suspending live price feeds, leaving traders without reliable prices as brokers lacked the data to quote markets.

Notably, the initial alert surfaced on CME’s platform at 02:40 GMT, notifying users of the outages in multiple platforms.

Meanwhile, leading contracts, including Nikkei, S&P 500, and Nasdaq 100, failed to update for several hours as of early Asian sessions.

Also, the currency side experienced issues as CME’s EBS platform stalled, with key pairs such as USD/JPY and EUR/USD offline.

The incident has grabbed the crypto community’s attention as it comes days after the Chicago Mercantile Exchange announced that its Cryptocurrency options and futures suite hit new ATHs in daily volume.

Brokers stranded as price feeds stop

The event left brokers navigating the markets without vital features as live pricing went offline.

Some suspended trading activities, while others switched to internal models or backup sources.

CME’s head of Middle East and Asia, Christopher Forbes, said that he has never seen such an incident in two decades, calling it “a pain in the arse.”

For now, the platform is working to maintain stable pricing using alternative feeds, which can lead to mispricing amid volatile conditions. Forbes stated:

We are now taking a lot of unnecessary risks here to continue pricing. My guess is the market is not going to like this. I think it will be a bit volatile on the open.

Meanwhile, the outage arrived as the market experienced slow activity due to the Thanksgiving holiday.

The timing adds to uncertainty

CME’s outage comes at an awkward time for the trading platform.

Four days ago, on November 24, the team celebrated a crucial breakthrough as its crypto derivatives complex recorded an all-time high in 24-hour volume, signaling renewed momentum for digital currencies.

Commenting on the milestone, CME Group’s Global Head of Crypto Products, Giovanni Vicioso, said:

Amid ongoing market uncertainty, demand for deeply liquid, regulated crypto risk management tools is accelerating. Clients across the globe continue to turn to our benchmark Cryptocurrency futures and options to hedge their risk and pursue opportunities in this complex environment, with both large institutions and retail traders driving record activity across our product suite.

Today, November 28, the narrative is vastly different.

Rather than celebrating increased activity, the exchange operator is fighting to answer questions about the resilience of its infrastructure.

For now, a leading derivatives engine remains offline, idling not due to financial challenges, but an overheated data center that usually runs quietly in the background.

• Individuals can now buy crypto on Trust Wallet using Apple Pay.
• The feature is currently available in more than 45 countries.
• Such updates reduce entry barriers into the crypto and blockchain world.

Trust Wallet, one of the reputable digital asset wallets, has made another step toward promoting cryptocurrency adoption.

It has confirmed adding Apple Pay today, November 27, on X, allowing individuals in more than 45 countries to purchase their favourite virtual tokens within seconds.

Notably, the new feature promises an enhanced experience for new and existing users. The announcement read:

Trust Wallet has integrated Apple Pay. Buy your first crypto in seconds. Available in 45+ countries.

Indeed, purchasing digital tokens has been challenging for newbies, with lengthy verification procedures, numerous account setups, and limited payment methods often discouraging them.

Trust Wallet wants to address this challenge. With the integration of Apple Pay, it aims to make digital assets more accessible than ever, as individuals can now buy their “first crypto in seconds.”

How to get started

Depositing funds in a Trust Wallet account using Apple Pay is straightforward.

Users only need to open the app, visit the ‘Fund’ tab, and choose Apple Pay as the desired payment option.

Everything takes a few taps, mirroring the smooth experience when using Apply Pay for day-to-day purchases.

Most importantly, Trust Wallet benefits from Apple Pay’s credibility and security features, which include Touch ID, encrypted payments, and Face ID.

That promises streamlined crypto purchases that don’t compromise user safety.

Trust Wallet expands footprint globally

The team confirmed that users in more than 45 countries can access the Apple Pay transaction option.

Trust Wallet is lowering barriers to joining crypto, which will likely make it an entry point for millions who have struggled to access the digital assets market.

Individuals in jurisdictions with limited options to participate in the cryptocurrency industry now have a swift and secure option.

TWT price outlook

Trust Wallet’s native token remained somewhat muted in the past 24 hours.

The alt is trading at $1.08 after a slight 0.09% uptick on the daily price chart.

TWT has consolidated over the past week after losing nearly 15% in the last 30 days, influenced by broader selling pressure.

Meanwhile, TWT has underperformed the broader market today.

CoinMarketCap data shows the value of all cryptocurrencies increased by more than 3% the last 24 hours to $3.12 trillion.

Bitcoin is trading at $91,480, pumping the altcoin space as risk-on sentiments surfaced.

For now, Bitcoin should reclaim the key zone between $93,000 and $94,000 to shift its near-term trajectory to bullish.

That can support steady upswings towards the $100,000 psychological market.

However, a sudden selling wave will see it retracing to the ‘new’ liquidity region at $85,000 – $86,000.

• RLUSD has been recognised as an Accepted Fiat-Referenced Token in the Abu Dhabi Global Market.
• Ripple secured full regulatory approval to operate in the Dubai International Financial Centre in March.
• The DFSA allowed RLUSD to be used inside the DIFC in June.

Ripple’s dollar-pegged stablecoin has gained new regulatory acceptance in the Middle East, adding another link between traditional finance and digital assets as the UAE moves to tighten oversight of decentralised finance and Web3.

The approval allows institutions operating in Abu Dhabi’s financial free zone to use RLUSD for regulated activity, reinforcing the country’s strategy of pairing innovation with clearer rulemaking.

As the UAE reshapes how payments, lending, and custody services operate across digital systems, Ripple’s position in the region is expanding through multiple regulated hubs that already host global financial firms.

ADGM adds RLUSD to regulated activities

Ripple announced on Thursday that RLUSD is now recognised as an Accepted Fiat-Referenced Token within the Abu Dhabi Global Market.

The financial centre sits on Al Maryah and Al Reem Islands and functions as an international free zone with its own regulatory framework.

The approval was issued by the Financial Services Regulatory Authority, which supervises activities conducted within the zone.

The decision means firms licensed by the regulator can use RLUSD for services that fall under permitted activities, provided they meet requirements set for fiat-referenced tokens.

These include rules linked to reserve management, transparency, and disclosures.

Ripple said RLUSD currently holds a market capitalisation above one billion dollars and is being adopted for uses such as collateral and payments.

RLUSD was launched in late 2024. It is pegged 1:1 to the US dollar and backed entirely by cash and equivalents.

The stablecoin is issued under a limited-purpose trust charter from the New York Department of Financial Services, which sets the conditions for custody and reserve safeguards.

Ripple widens presence across UAE financial hubs

The recognition in Abu Dhabi adds to Ripple’s regulatory progress across the UAE’s digital-asset ecosystem.

In October 2024, the company confirmed it was pursuing a licence from the Dubai Financial Services Authority to expand its services in the country.

It secured in-principle approval later that month as part of its plan to operate inside Dubai’s major financial zone.

By March, Ripple had received full regulatory approval to provide cross-border crypto payment services within the Dubai International Financial Centre.

The DIFC runs under its own rulebook and is widely used by global firms looking to serve markets across the Middle East, Africa, and South Asia.

In June, the DFSA permitted RLUSD to be used for regulated activities within the DIFC.

This allowed companies operating inside the zone to integrate the stablecoin into services involving payments and treasury functions.

Ripple also brought in Zand Bank and the fintech app Mamo as early adopters of Ripple Payments, its blockchain-powered system designed for institutional transfers.

UAE expands its national approach to crypto supervision

The UAE is now combining approvals inside its financial zones with a nationwide framework that brings more of the digital-asset market under central oversight.

Earlier this week, authorities introduced a new central bank law that formally places decentralised finance and a wide portion of Web3 activity within a regulated structure.

Federal Decree Law No. 6 of 2025 has been in force since September 2025.

It requires platforms, infrastructure providers, and protocols involved in lending, custody, exchanges, payments, or investment services to obtain licences from the Central Bank of the UAE by September 2026.

The move sets a unified expectation for businesses operating across digital finance.

Stablecoin use grows as rules become clearer

The combination of ADGM recognition, DIFC approval, and a nationwide regulatory framework positions RLUSD to play a larger role in institutional financial services across the UAE.

With regulated firms in multiple zones now able to use the stablecoin for defined activities, Ripple’s expansion reflects the broader shift in the country’s approach to digital assets.

The new law signals that the UAE is looking to support innovation while ensuring that digital-asset operations follow the standards applied to other financial services.

RLUSD’s clearance inside Abu Dhabi arrives at a moment when regulated stablecoins are increasingly used for settlement, payments, and collateral across international markets.

• About 54 billion won in tokens moved to an external wallet on Nov. 27.
• Around 12 billion won in Solaire tokens have been frozen so far.
• The breach coincided with Dunamu’s major merger plans with Naver.

Upbit, South Korea’s largest crypto exchange, is carrying out extensive security inspections after an early-morning breach on Nov. 27 led to unauthorised transfers of Solana-linked assets worth about 54 billion won.

The exchange halted all deposits and withdrawals as it began moving digital assets to cold storage and initiated a broader internal review.

The incident has renewed attention on how Solana-based tokens are secured across trading platforms and has placed pressure on Upbit to strengthen systems as the company enters a major corporate transition involving its parent firm, Dunamu.

Solana assets targeted in early transfer

The breach took place at around 4:42 am on Nov. 27 when Solana network assets, including SOL, USDC, and other smaller tokens, were moved to an external wallet without authorisation.

Upbit described the activity as abnormal withdrawals connected to the Solana network.

The exchange confirmed that roughly $37 million worth of digital assets had been affected.

Upbit immediately suspended services to stop further transfers.

It said it has identified the entire scale of the outflow and will fully compensate users by covering the amount with its own holdings.

Customer balances will not be touched as part of the reimbursement process.

To control risk, the exchange transferred assets to cold storage and started a systemwide inspection of its wallet operations, deposit channels, and withdrawal procedures.

These steps were taken to prevent any further unauthorised movement and to contain the situation while teams examined logs and asset flows.

System checks widen beyond the Solana network

Upbit said its investigation will not be restricted to the Solana ecosystem.

It is reviewing the stability and security of the complete deposit and withdrawal infrastructure. This includes a detailed audit of network connections, wallet systems, and digital asset storage methods.

The exchange has begun an emergency sweep of internal processes and is carrying out a full evaluation of whether other networks require additional protections.

Deposits and withdrawals will resume gradually once the inspections conclude and the company is satisfied with system security.

The timing has amplified industry attention.

The breach occurred one day after Dunamu announced plans for a multibillion-dollar merger with Naver’s fintech arm.

The deal, valued at about $10.3 billion, represents one of the largest corporate moves in Asia’s digital finance landscape.

Reports suggest it may support Upbit’s ambitions for a future Nasdaq listing, creating pressure for the company to demonstrate resilience during a sensitive transition.

Freeze efforts expand as authorities prepare response

Upbit has started on-chain measures to track and freeze the affected assets.

It said around 12 billion won in Solaire tokens have already been frozen, and it continues to work with related projects and institutions to stop further movement.

The exchange is tracing the remaining funds through blockchain monitoring tools and coordinating with partners to identify additional freeze points.

Authorities and law enforcement agencies are also expected to join the investigation.

Upbit has prepared to cooperate with official inquiries once they begin and has asked users to report any verified information linked to the suspicious transactions.

The company acknowledged the disruption caused by the suspension of services and repeated that member assets remain protected.

It also stressed that the entire outflow will be covered using the exchange’s own resources.

Major merger plans heighten timing pressure

The breach took place on the anniversary of a major incident in Upbit’s history.

In 2019, on the same date, the exchange lost 342,000 ETH in another high-profile theft.

South Korean investigators later connected the event to North Korean hackers.

The stolen Ether has since increased in value to over $1 billion and remains one of the largest crypto heists associated with the country.

With deposits and withdrawals still paused, Upbit plans to restore services in stages after it completes its full review.

The exchange said its priority is to secure its infrastructure across all supported networks and to strengthen safeguards around Solana-linked assets while recovery and freeze efforts continue.

• Arthur Hayes has scooped 218,000 PENDLE tokens today.
• The accumulation comes as the altcoin nears a reliable support, hinting at recoveries.
• PENDLE price gained more than 2% the past day.

The crypto sector remains downbeat, failing to reclaim the $3 trillion mark as short-term rebounds encounter renewed selling pressure.

However, sentiments are likely to shift as dip-buying activities surface.

Market participants track large-scale transactions as they can indicate potential sentiment shifts.

PENDLE has found itself in the spotlight on November 26, after substantial purchases by Arthur Hayes.

Arkham data shows the BitMEX co-founder executed two transactions in the past 24 hours.

The first one involved 105,000 PENDLE tokens worth over $258K.

Meanwhile, the second purchases, which came hours later, saw Hayes buying 113,000 coins at $277K.

Together, Hayes has accumulated 118,000 coins, worth approximately $536,000, today, and now holds PENDLE worth over 1.19 million or more than 417,000 tokens.

Meanwhile, today’s transactions grabbed attention due to timing, executed as PENDLE endures bearishness.

The digital token lost more than 25% of its value in the past 30 days amid broad-based slumps.

Substantial accumulations during bearish performance signal trust in possible recoveries.

Hayes likely capitalized on the downside prices to buy at a discount before PENDLE shifts its trajectory.

PENDLE price outlook – rebound imminent

The altcoin is trading at $2.53 after an over 2% increase within the past 24 hours.

Meanwhile, PENDLE has experienced substantial selling pressure lately.

Its price started stabilizing at $2.10 – $2.25 after underperforming in October and November.

This region is crucial as it previously gave buyers a perfect entry level.

That’s why Hayes’ latest accumulation gained attention.

These sentiments hint at potential near-term recoveries for PENDLE.

Meanwhile, the initial obstacle at $2.75 will be the first checkpoint for upside continuation.

A breakout confirmation could clear the path to $3.16 – $3.55 before exploding to $4.67 amid broad-based driven rallies.

Momentum indicators support an optimistic performance.

The 4H Moving Average Convergence highlights buyer presence.

Also, the Relative Strength Index of 62 signals upside momentum with no imminent overbought conditions.

Nonetheless, the cryptocurrency market has been highly unpredictable lately, with brief recoveries encountering sudden selloffs.

Bearish price actions could see the altcoin revisit the support barrier at $2.10 – $2.25.

Failure to hold above this mark will catalyze notable dips for the token.

PENDLE can plummet to $1.80, or even extend to $1.60.

Meanwhile, broader sentiments will influence PENDLE’s short-term performance.

The overall cryptocurrency marketplace remains deteriorated. Bitcoin hovers $86,000 while threatening further dips to $79,000.

Such a move would mean substantial declines for the entire market, delaying PENDLE’s potential near-term recovery.