Coinbase Launches Custom Stablecoin, Tempo Introduces New Developer Feature, What's Today's Overseas Crypto Community Buzzing About?

By: blockbeats|2025/12/18 13:00:06

Publication Date: December 18, 2025
Author: BlockBeats Editorial Team

Over the past 24 hours, the crypto market has shown a continuous evolution across multiple fronts. The mainstream discussion has focused on large platform system-level upgrades and the compliant expansion of the prediction market, with institutions continuing to advance their on-chain payment and security infrastructure strategies. In terms of ecosystem development, Solana has strengthened security and liquidity onboarding, Ethereum L2 has accelerated application deployment, and the Perp DEX track has maintained high-intensity competition in new features and governance games.

I. Mainstream Topics

1. Coinbase Releases System Update, Introduces Custom Stablecoins

Coinbase held a "System Update" event, collectively announcing multiple product updates. Of particular interest is Custom Stablecoins: allowing businesses to issue branded stablecoins using a 1:1 asset collateralization structure, custodied by Coinbase, and supporting cross-chain interoperability and revenue sharing.

Other updates announced simultaneously include: stock trading functionality; prediction market entry; DEX full integration (supporting millions of dollars of assets on Solana); BTC/ETH collateralized lending; AI investment advisory tools, and more.

Coinbase CEO Brian Armstrong described this as a key phase for Coinbase's move towards becoming a "top global financial app." The community widely believes this is an important step for Coinbase's transformation from a crypto trading platform to a comprehensive financial infrastructure.

2. Coinbase × Kalshi: Compliance Prediction Market Officially Integrated

Coinbase has announced a partnership with the compliance prediction market platform Kalshi, integrating prediction market functionality directly into the Coinbase product ecosystem, covering political, sports, and some crypto-related events.

The founder of Kalshi reviewed the collaboration with Coinbase, emphasizing that this integration will significantly expand the user base of the prediction market. The community widely views this as a crucial milestone for the prediction market entering the mainstream financial user's perspective.

3. Robinhood CEO: Prediction Market in "Super Cycle" Early Stage

Robinhood CEO Vlad Tenev stated in a recent interview that the prediction market is in the early stages of a "super cycle." Combining this with the progress of Coinbase and Kalshi's collaboration, many investors see the prediction market as a potential significant structural narrative for 2026.

4. Tempo Launches Tempo Transactions, Privy Demonstrates Global P2P Payment Demo

Payment-focused blockchain Tempo has released a new transaction type called Tempo Transactions, supporting features such as: paying Gas fees in stablecoin; batch and scheduled transactions; Fee Sponsorship, and more.

Based on this feature, the Privy team quickly built a P2P payment demo similar to a "global Venmo," supporting transfers via email or phone number with almost instant settlement. Privy (acquired by Stripe) stated that this use case showcases Tempo's usability in real-world payment scenarios, with the community holding a cautiously optimistic attitude towards its efforts to drive on-chain payment adoption.

5. DTCC Partners with Canton Network to Advance Security Tokenization

The world's largest securities clearing organization, DTCC, has announced a collaboration with Digital Asset and Canton Network to explore the tokenization of assets such as U.S. Treasuries held in its custody, aiming to improve settlement efficiency and transparency.

Community opinions are divided: supporters view this as a significant milestone in the mainstreaming of RWAs (real-world assets); while critics point out that Canton, as a permissioned blockchain, still largely retains traditional intermediary structures, thus having limited decentralization.

6. Arthur Hayes Receives Large Amount of USDC, Triggering On-Chain Speculation

On-chain monitoring platform LookIntoBitcoin shows that Arthur Hayes has received approximately 32.42 million USDC over the past two days from addresses associated with Binance, Galaxy Digital, and other institutions. The community has speculated about the purpose of this transaction (position building, OTC trades, or liquidity provisioning), making it one of the recent focal points of on-chain whale tracking.

7. The Block's Funds Stuck on Coinbase for a Year, Issue Resolved After Cobie's Intervention

The media outlet The Block mistakenly sent USDT to a USDC address, resulting in approximately $45,000 in funds being stuck on the Coinbase platform for almost a year, despite multiple attempts to resolve the issue. After Cobie joined Coinbase, they intervened and the problem was resolved within a few days.

This incident sparked two types of discussions within the community: one exposing Coinbase's customer service efficiency issues once again, and the other highlighting Cobie's tangible influence in the industry.

2. Mainstream Ecosystem Updates

1. Solana

Post-Quantum Security Upgrade: The Solana Foundation collaborated with Project Eleven to successfully deploy a post-quantum signature system on the testnet, achieving end-to-end quantum-resistant transaction validation.

This upgrade is seen as a proactive response to the potential security risks of quantum computing, demonstrating the initial validation of relevant solutions in terms of feasibility and scalability, and is an important part of Solana's long-term security roadmap.

JiJito Returns to the U.S.: The JiJito team and operating entity announced the relocation of core business and foundation operations back to the United States.

Previously, during the U.S. "Operation Chokepoint 2.0" phase, the cryptocurrency industry faced de-risking pressure, leading the JiJito Foundation to relocate some operations overseas.

With the gradual clarification of the U.S. digital asset regulatory environment, including the passage of the GENIUS Act, Congress advancing legislation related to the crypto market structure, and the departure of former SEC chairman Gary Gensler, JiJito chose to reposition its core operations in the United States.

The market widely interprets this move as a long-term bullish signal, reflecting a phased shift in the U.S. crypto regulatory attitude and showing that some projects are embarking on a "repatriation" strategy.

Coinbase Deeply Integrates Jupiter: Coinbase officially integrates with the Jupiter aggregator in the Solana ecosystem, providing users with optimal routing quotes, full token coverage, and a smoother trading experience.

The market generally believes that this integration will help enhance early liquidity and accessibility of new assets on Solana, and is also seen as an important part of Coinbase strengthening its Solana ecosystem layout and expanding towards a "super financial app" form.

2. Ethereum (Focus: World Chain L2)

Worldcoin (World Chain, based on Ethereum's L2 network) has released a series of products and ecosystem updates, with the core narrative focusing on the application of the "real human network" in social, financial, and privacy scenarios.

Social and Identity Verification Partnership: Worldcoin has partnered with Tinder to launch World ID's "Verified Human Badge" in Japan, introducing a privacy-preserving age verification mechanism that can prove adult identity without disclosing specific age. The official disclosure states that this solution is planned to expand to more countries by 2026 and will support selective information disclosure based on NFC passports or identity cards.

World Wallet Upgrade: The addition of a US dollar virtual account feature supporting fee-free deposits (such as direct deposit of wages) has been rolled out in the US and 18 other countries. Additionally, 7 new local fiat stablecoins have been added, supporting over 100 asset trades (including bulk assets like gold). The Earn module targets verified users with up to $1000, offering a maximum 16% annualized yield.

World Card Coming Soon: Worldcoin has announced the upcoming launch of the World Card (a Visa physical card) that will support Apple Pay and other payment methods, with a current waitlist of over 140,000 users.

App Ecosystem Progress: Mini Apps have surpassed 2 billion cumulative uses, including around 200 million human verifications and 150 million WLD transactions, spanning across public services, financial tools, and prediction markets.

Other Feature Updates: These include World Chat, an end-to-end encrypted communication tool that does not require a phone number, QR code-based local payment functionality (with over 1 million POS terminals in Argentina supporting it), and the developer-oriented incentive program World Grow.

The official goal is to expand the user base to hundreds of millions by 2026 and drive the practical application of a decentralized human validation system in the AI era.

3. Perp DEX

Lighter Dynamics: In a recent JP AMA session, founder Vlad clarified that the previously mentioned "Christmas" referred to the entire holiday season rather than just December 25, hinting that further announcements related to the TGE will be made in the coming weeks. Based on this, the market interprets that the TGE timing for Lighter may be postponed to 2026. The probability on Polymarket of "coin issuance by the end of the year" has rapidly dropped from over 90% to around 60%. Additionally, the team mentioned plans to launch a universal cross-margin mechanism, more spot markets, and may consider introducing a meme coin (depending on community feedback) in the future.

Phantom × Hyperliquid User Retention: Phantom has generated over $12 million in revenue through Hype builder codes, but recently experienced a significant decline in user retention (W1 retention approximately 30%, W3 retention approximately 13%), which is widely attributed to the overall market downturn. Nevertheless, this partnership is still considered a significant new revenue stream for Phantom, with a total trading volume of approximately $25 billion.

Hyperliquid (HYPE) Governance Proposal: Hyper Foundation has proposed to officially recognize the HYPE held in the Assistance Fund (held by a system address with no private key control) as a burnt asset, permanently removing it from circulation and total supply. The related governance vote will conclude on December 24, requiring consensus support from validators and stakers.

Hyperliquid Portfolio Margin: The Portfolio Margin feature is expected to go live this weekend. To incentivize liquidity in the lending pool, Hyperliquid plans to allocate approximately 1% of HLP deposits (around $3.8 million) to BLP, with lenders expected to earn an APY higher than the HLP base return rate.

Cantor Fitzgerald Research Report: Cantor Fitzgerald has published a 62-page in-depth research report, expressing a positive long-term outlook on Hyperliquid. Their 10-year model assumes an annual revenue of $5 billion, resulting in a potential market value of HYPE exceeding $200 billion (approximately 50x valuation), and gives a "Hold" rating to PURR and HYPD. Some community members view this report as one of the more comprehensive analyses by Wall Street institutions on the Perp DEX sector.

In June, Binance Research said in its monthly market report that the real-world asset (RWA) market is expected to grow by about 589% from the beginning of 2025. Bond- and money market fund-related RWA expanded by about $6.5 billion, up 83% year over year, while publicly traded equity RWAs grew by about 422%. The report also noted that monthly crypto debit card transaction volume exceeded $747 million in May, up 48.6% year to date.

Japan to Assess a Framework for Yen Stablecoins and Crypto ETFs as Asia’s Compliant Payments Narrative Heats Up

Recently, according to the original report, Japan is considering the launch of yen stablecoins and cryptocurrency ETFs. Public information remains limited at this stage, and there is still no complete policy text, regulatory draft, or clear implementation timeline, so this is better characterized as a “policy discussion” rather than formal implementation. The original wording also noted that advancing stablecoin regulation in Asia is driving XRP usage and supporting growth in the XRPL ecosystem. However, based on currently available public information, there is not enough evidence to directly establish a clear causal relationship between this round of discussion in Japan and XRP or XRPL.

ZachXBT: Humanity private key leak and abnormal surge in H token should be viewed separately

On June 9, according to related disclosures, on-chain investigator ZachXBT posted an update on Humanity’s roughly $31 million security incident, saying that after further analyzing fund flows, he currently tends to believe the project team was not involved in an “inside job” or a self-staged attack. According to him, the official explanation about the private key leak was broadly accurate, but before the token unlock, the price of H had been artificially pushed higher, and the hacker later took advantage of that market environment; therefore, the private key leak and the earlier abnormal price pumping should be regarded as two separate and independent events. This reframing has shifted the market’s understanding of the nature of the incident. Earlier discussion around Humanity had focused on whether the team directly participated in the attack or used the security incident to cover up internal operations. ZachXBT’s latest remarks shift the focus from “whether it was self-theft” to “whether there were pre-unlock market structure issues.” He also questioned whether the team may have.

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Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million

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