Coinbase-Backed Zynk Raises $5M to Transform Cross-Border Payments with Instant Settlements
Zynk, a cross-border payments infrastructure firm, has successfully secured $5 million in a seed funding round led by Hivemind Capital, with notable participation from Coinbase Ventures and other investors. This significant investment will be directed towards global expansion, enhancing liquidity, and advancing technological development. Zynk's innovative solution eliminates the need for pre-funding in both fiat and stablecoin transactions, addressing a major challenge in cross-border payments. The company's approach promises instant settlements, revolutionizing the way international transactions are conducted. With the backing of prominent investors like Coinbase Ventures, Zynk is poised to make a substantial impact in the financial sector, particularly in the realm of digital assets and blockchain-based payments. This development underscores the growing confidence in cryptocurrency-driven solutions to streamline and improve traditional financial processes.
Zynk Secures $5M to Revolutionize Cross-Border Payments with Instant Settlements
Zynk, a cross-border payments infrastructure firm, has raised $5 million in a seed round led by Hivemind Capital, with participation from Coinbase Ventures and other investors. The funding will fuel global expansion, liquidity enhancements, and technological development.
The company's solution eliminates pre-funding requirements for fiat and stablecoin transactions, addressing a critical pain point in cross-border payments. By embedding liquidity directly into its network, Zynk enables payment providers to reduce operational costs and scale globally without capital constraints.
Zynk's growth has surged 70% month-over-month, demonstrating market demand for its efficient settlement platform. The fresh capital will accelerate partnership development and network expansion across key payment corridors.
Gemini Ventures into Prediction Markets with CFTC Filing
Gemini Space Station Inc., the cryptocurrency exchange founded by the Winklevoss twins, is making a strategic pivot into prediction markets. The company has filed with the U.S. Commodity Futures Trading Commission (CFTC) to operate a derivatives exchange, with plans to offer event contracts tied to real-world outcomes. This expansion follows Gemini's $433 million IPO in September, which valued the firm at $4.4 billion.
The MOVE places Gemini alongside industry heavyweights like MetaMask, Coinbase, and DraftKings in the rapidly growing prediction market sector. Kalshi, a leading platform, recently recorded $1.2 billion in weekly trading volume, while rival Polymarket has attracted a $2 billion investment from Intercontinental Exchange at a $9 billion valuation.
Pi Network Surpasses 100 Million Downloads, Outpaces Major Crypto Exchanges
Pi Network has achieved a significant milestone with over 100 million app downloads globally, eclipsing established platforms like Coinbase and OKX. The network's unique social mining model has fueled its rapid expansion, particularly in emerging markets across Asia, Africa, and Latin America.
With 60 million active miners and 25 million KYC-verified users, Pi Network demonstrates the power of community-driven growth in cryptocurrency. Its 4.5-star rating on Google Play, supported by nearly 1 million reviews, reflects strong user engagement.
The project's focus on accessibility through mobile mining contrasts sharply with traditional exchange models. This strategy has proven particularly effective in regions where financial infrastructure remains underdeveloped.
Hyperliquid to Enable Coinbase Stock COIN’s Perpetuals Trading
Hyperliquid is expanding its derivatives market offerings by introducing perpetual contracts tied to Coinbase's COIN stock. The move follows the successful deployment of HIP-3, a community-driven upgrade that allows permissionless listing of new perpetual contracts. Tradexyz secured the COIN ticker for 500 HYPE tokens, valued at approximately $18,976 at the time of purchase.
The HIP-3 upgrade, launched on October 13, decentralizes market additions by enabling community deployers to compete through a Dutch auction. This shift from centralized control by the Core team aims to foster synthetic access to equities and commodities within a unified ecosystem. Trading for COIN in the HIP-3 market has yet to commence, according to OpenHL data.
Canada Introduces New Stablecoin Regulations Following U.S. GENIUS Act
Canada has unveiled a regulatory framework for fiat-backed stablecoins, mirroring the U.S. approach under the GENIUS Act enacted in July 2025. The rules, embedded in the 2025 federal budget, mandate strict safeguards for user funds, data privacy, and redemption policies—ensuring holders can always convert tokens to cash.
The Bank of Canada will oversee the system, allocating $10 million from 2026–2027 to establish the framework, with subsequent $5 million annual costs funded by issuer fees. Amendments to the Retail Payment Activities Act will expand oversight to all stablecoin payment services operating domestically.
Industry leaders like Coinbase's Faryer Shirzad applaud the move toward national clarity. "Clear stablecoin laws are foundational for trust," he noted, though parliamentary timelines remain unspecified for the 41.7 million Canadians awaiting safer digital money.
Franklin Templeton Nears Launch of Spot XRP ETF
Franklin Templeton has filed Amendment No. 3 for its Franklin XRP Trust ($XRPZ), signaling the final step before SEC approval for the first U.S. spot XRP ETF. The trust will custody XRP directly with Coinbase Trust, use CME CF XRP-USD pricing, and charge a 0.19% sponsor fee—waived for the first $5 billion in assets until May 2026.
Bloomberg ETF analyst James Seyffart noted the filing's 'shortened 8(a) language,' a precursor to an imminent launch. 'They’re looking to launch this month,' Seyffart said. The ETF, first proposed in March 2025, faced SEC delays but now appears to have cleared its last technical hurdle.
