Fintech company Reap said it now supports USDC deposits through the Hyperliquid network, giving customers a direct way to move funds from Hyperliquid into their Reap balances. The company said those balances can then be used for card payments and day-to-day business operations, without routing funds through an intermediary exchange or wallet. The update comes after Hyperliquid removed its native stablecoin in May 2026. USDC has since become the platform’s main collateral asset, with supply reaching $7.04 billion in early June that year. According to Chainwire, the new integration expands Reap’s stablecoin network coverage beyond the networks it already supports: Ethereum, Tron, and Polygon. Reap said the added support can help businesses simplify treasury management and lower operating costs.

Paris-based stablecoin card infrastructure provider Kulipa has stopped operating after what it described as solvency problems, abruptly disabling all cards tied to its platform and affecting roughly 20 wallet and fintech clients, including Solflare, Ready, Flutterwave, and nSave. The company had presented itself as a white-label infrastructure layer for crypto card programs rather than a direct consumer brand, and had said it issued more than 120,000 cards after launching its infrastructure in February 2025. Kulipa had also disclosed about $9.2 million in total funding across two rounds. Its $6.2 million seed round was led by Flourish Ventures and 1kx, with participation from White Star Capital and Fabric Ventures, completed in December 2025 and disclosed in April this year. Despite that funding and a leadership team with backgrounds at Mastercard, Spendesk, Google, WhatsApp, Nickel, Lemonway, and Binance France, the company shut down roughly seven months after its latest financing round. Public comments from partners show different risk profiles across client types. Self-custody wallet partners such as Solflare and Ready said user assets were safe because funds were only debited from users’ own wallets at the moment of payment. By contrast, custody-based fintech models can involve pre-funded balances. nSave said it was affected about a month earlier, gave users five days to spend remaining card balances or switch cards, and reported no losses.

Payward, the parent company of crypto exchange Kraken, said on July 27 that it is acquiring the embedded wallet business of Magic Labs through an asset purchase. After the deal closes, the two companies will continue operating independently, while Magic Labs’ wallet customers will be migrated to Payward Services. Magic Labs will also adopt a new name, Newton Labs. Founded in 2018, Magic Labs said it has created more than 60 million wallets and provided embedded wallet services to more than 200,000 developers. Following the divestiture, Newton Labs will focus on building Newton Protocol, an on-chain financial authorization layer protocol. The company said the protocol’s mainnet beta went live in June 2026 and is designed to carry out compliance, security, identity verification and risk control before transactions are posted on-chain. Newton Labs added that VaultKit, its first product based on Newton Protocol, is aimed at helping institutional-grade custody solutions perform compliance and risk management before trade settlement. It said the product roadmap will later extend to real-world assets, stablecoins, and commercial and financial use cases involving AI agents. The acquisition also adds to Payward’s broader push in financial infrastructure, following its previously disclosed deals for Bitnomial, Reap Technologies and NinjaTrader.

Grayscale Research Head Zach Pandl says the first rate cut is now expected in September 2027. Bitcoin faces headwinds from rising real rates, RWA tokenization accelerates on yield gaps, and stablecoin issuers like Circle could see $190M annual revenue boost per 25bp rate hike.

Payward, Kraken’s parent company, has reportedly cut around 150 jobs and is seeking fresh funding at a valuation of up to $20 billion as it continues IPO preparations and acquisition activity.

The crypto market cap is hovering near $2.48 trillion, while traders are watching the $1.5 trillion to $1.7 trillion support band. Analysts say the setup resembles the accumulation phase seen after the last major drawdown.

Payward, the parent company of Kraken, is reportedly raising fresh capital at a $20 billion valuation as it accelerates acquisitions and IPO preparations. The company has already confidentially filed an S-1, and its co-CEO says the listing process is about 80% complete.

Bitcoin’s 50-week SMA is close to falling below its 100-week SMA, a setup that has appeared only three times before. In each prior case, the cross coincided with a market bottom, though the indicator remains backward-looking and macro factors still matter.