Events moved smoothly as partnerships drove further integrations, with utility as the focus. Regulators continued pushing events in the background.
The headlines:
- Circle is exploring reversible blockchain transactions;
- Polkadot announced stablecoin launch plans;
- Tether and Kraken are reportedly in fundraising discussions;
- The United Nations upgraded its pension ecosystem with blockchain technology;
- ShapeShift settled with the Treasury’s OFAC for $750,000;
- Plus, stablecoin blockchain Plasma revealed neobank launch plans (more on that later);
- And much more!
As always, these are your Decentralized Diaries!
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Bitcoin is at $112k (as of 9/29/25)
The markets remained sideways as Bitcoin moved from a high of $113,986.27 to a low of $108,728.97, then settled at $112,148.84.
Altcoins are also in unsteady waters.
Ethereum (ETH) is at $4,129.07, Solana (SOL) is at $209.05, Chainlink (LINK) is at $21.37, Avalanche (AVAX) is at $29.93, Polkadot (DOT) is at $3.99, and Uniswap (UNI) is at $7.72.
Circle Introduces Arc Blockchain Refund Protocol
Stablecoin issuer Circle unveiled plans to roll out an on‑chain refund protocol on its Arc blockchain. The move strengthens fraud protection and compliance for stablecoin transactions.
Additionally, the new system will enable disputed payments to be placed in escrow and resolved directly by arbiters on-chain. Treasury teams and banks now have a way to manage disputes without leaving the blockchain environment.
BlackRock, VanEck Add RLUSD to Tokenized Funds Via Securitize
Securitize partnered with Ripple to integrate the RLUSD stablecoin as an off‑ramp for tokenized funds managed by BlackRock and VanEck. The collaboration introduces a smart contract that allows holders of
BlackRock’s BUIDL and VanEck’s Treasury Fund VBILL to exchange their tokenized shares for RLUSD instantly.
Furthermore, the move expands liquidity pathways for institutional investors and enhances transaction flexibility.
Polkadot Wants a Stablecoin
Premier network Polkadot unveiled plans to launch the pUSD, a stablecoin for its ecosystem. Community members revealed the move in an RFC-155 proposal.
Moreover, community members want the DOT token to fully back the pUSD.
SWIFT Pilots Blockchain Integration with Ethereum’s Linea Network
Global messaging network SWIFT is experimenting with Ethereum’s Layer 2 network, Linea. The project involves participation from major banks.
Consequently, the trial will take several months to develop and evaluate.
CloudFlare Unveils Stablecoin Launch Plans
On September 25, internet infrastructure firm CloudFlare announced its intention to launch the NET Dollar. The token will have AI-focused use cases.
CloudFlare aims to integrate the token into its ecosystem.
Ohio Enables State Fee Crypto Payments
On September 24, the Ohio State Board of Deposit approved a vendor for digital asset transaction processing for state services. Residents of the Buckeye State can now pay for state fees using crypto tokens.
Furthermore, the State has yet to provide details on accepted tokens and an implementation timeline.
Franklin Templeton Expands BENJI to the BNB Blockchain
On September 24, Franklin Templeton announced support for the BNB blockchain in its OnChain U.S. Government Money Fund (BENJI). The move improves access to the offering with low-cost fees and seamless transactions.
Moreover, the duo revealed that other crypto-focused offerings are in the works.
Tether Aims for $20 Billion, $500 Billion Valuation
A September 23 Bloomberg report revealed Tether’s efforts to raise $20 billion in a private funding round. The move could push the stablecoin issuer’s value to $500 billion.
According to the report, the deal was still in its early stages of development.
Kraken Targets $20 Billion from an Investor
Similarly, a September 23 Bloomberg report unveiled efforts by Kraken to raise $20 billion from a yet-to-be-named investor. The talks align with the crypto exchange’s plans for its 2026 IPO.
Moreover, the funds will (reportedly) include a $200 million to $300 million initial obligation from the investor.
CFTC Unveils Stablecoin Derivatives Collateral Plans
According to a September 23 press release, the CFTC has plans to enable the use of several tokenized assets, including stablecoins, as collateral in derivatives markets. Acting Chairman Caroline D. Pham also revealed that players had until October 20 to submit feedback.
Pham also indicated that the regulator will work with key players to enable the initiative.
SEC Chair Atkins Wants Crypto Exemption by the Year’s End
In a September 23 Fox Business interview, SEC Chairman Paul Atkins revealed the SEC’s plans to introduce an innovation exemption for crypto products by the end of the year. The move will speed up digital asset listings and approvals.
In addition, Atkins revealed that recent listing rule changes showed the agency’s efforts in adapting to new technologies.
FalconX Launches an Ethereum Staking Offering
Crypto brokerage FalconX introduced forward rate agreements tied to Ethereum staking yields. The move creates a new class of rate‑based derivatives for the digital asset market.
Furthermore, the contracts have benchmarks tied to the Treehouse Ethereum Staking Rate (TESR).
A UN Pension Identity Experiment Shows Promise
Interestingly, a recently published paper revealed an integration with the United Nations Joint Staff Pension Fund (UNJSPF) ecosystem. According to the paper, the UN partnered with Hyperledger Foundation to enhance digital identification processes.
The blockchain-powered initiative enhanced the previous decades-old system.
ShapeShift Settles with the Treasury for $750k
Shuttered digital asset exchange ShapeShift agreed to settle with the Treasury. ShapeShift will pay $750,000 following previous OFAC violations.
On September 22, the Treasury revealed that the exchange had previously enabled transactions in sanctioned jurisdictions.
Boutique Decentralized Exchange provider Orderly Network unveiled Orderly One, a self-launch perpetual DEX solution. Users can set up a perp DEX in a few minutes.
The no-code offering enables decentralized entities, particularly DAOs, to introduce products quickly and easily on the go.
Plasma Unveils Stablecoin Neobank Plans
Stablecoin-focused Layer-1 blockchain Plasma revealed plans to launch Plasma One, a neobank. The move follows the rollout of its stablecoin-optimized Layer-1 blockchain.
Plasma One will offer users a physical or virtual prepaid card that can be loaded with stablecoins, starting with USDT and expanding to others.
Digital Asset ETFs Advanced
Crypto ETFs continued advancing. On September 25, BlackRock filed to register a Delaware Trust Company to launch the proposed Bitcoin Premium Income ETF.
Vanguard is reportedly in talks with regulators to enable access to crypto ETFs. The financial behemoth will offer its customers third-party ETFs.
Vanguard has yet to offer details on the initiative.
Crypto asset manager Hashdex also added several tokens to its Crypto Index US exchange-traded fund (ETF). They include Stellar (XLM), Solana (SOL), and Ripple (XRP).
On September 26, Canary Capital filed an amended S-1 form with the SEC to rename its Solana Spot ETF to the Canary Marinade Solana ETF and include staking.
