credit

Michael Saylor posted on the X platform stating that under the assumptions of a 10% annual return on Bitcoin, a 40% volatility of Bitcoin, and a Bitcoin price of $81,200, the duration of the dollar is 3.8 years, and the Bitcoin credit spread of STRC is 53 basis points.

Visa has informed participants in the payment industry that the "digital goods media" merchant category code used by Crossmint for processing Meme coin transactions is not applicable for Meme coin purchases. Visa has notified payment processors, including Checkout.com, to stop using this category code and has provided a transition period for relevant institutions, which is expected to end next week.Previously, Robinhood Wallet and Fomo users could purchase Meme coins using Visa and Mastercard credit cards through Apple Pay or Google Pay, with the transactions processed by Crossmint, but categorized as digital media transactions such as e-books and movies, thereby bypassing cryptocurrency transaction classification and earning regular credit card points or cash back.JPMorgan Chase had previously raised concerns with Visa regarding the classification of these transactions, and Visa subsequently determined that at least one transaction was misclassified and should not have received credit card rewards. In the future, purchases of Meme coins will need to be processed as cryptocurrency transactions and will be subject to Visa's corresponding rules and restrictions.

SoftBank Group has expanded its credit line to $6.5 billion, increasing it by $450 million to provide greater financial flexibility for its investments in the field of artificial intelligence.The original $6.05 billion credit line is set to expire this month and has now been extended for another year. More than 20 banks participated in the expansion, with the new agreement's interest rate 210 basis points above the benchmark.

Bitcoin Magazine released a video interview where Dan Hillery from UXTO stated that the Bitcoin-supported digital credit market currently has a scale of approximately 16 billion dollars, and it is expected to rival Bitcoin's market value of about 1.5 trillion dollars in the future. Two years ago, Bitcoin credit was almost non-existent, but it has now become the fastest-growing part of Bitcoin's capital structure.In the first episode of The Allocators Edge, Hillery elaborated on the pricing mechanisms of floating rate preferred securities such as STRC and SATA, how repurchases anchor their prices around the 100 dollar par value, and distinguished between digital credit risk and digital equity risk. He also introduced the structured credit funds being built, including the design of senior and subordinated shares.Additionally, Hillery discussed the impact of Bitcoin's price being flat or declining on related strategies, short-term Bitcoin-supported notes and product direction for the next five years, common misconceptions investors have about preferred securities, and the reasons why major fund categories still cannot enter digital credit. He believes that digital credit is the fastest-growing part of Bitcoin's capital structure and that more product innovations will emerge in the next five years.

Founder of Strategy, Michael Saylor, posted on platform X stating that the U.S. Securities and Exchange Commission's innovation exemption policy allows qualified trading platforms to provide around-the-clock tokenized on-chain trading for U.S. investors. This is undoubtedly a significant breakthrough in the field of digital credit and the U.S. capital markets.

Federal Reserve Chairman Waller stated that credit flows remain strong.

According to Fortune magazine, the blockchain private credit management platform Tare has completed a $13.25 million seed round financing, led by Blockchain Capital, with participation from Janus Henderson, Strobe Ventures, the Venture Dept, Neoclassic Capital, and the Avalanche Foundation. Individual investors include Aave CEO Stani Kulechov, Tether co-founder Phil Potter, and Privy CEO Henri Stern.The funds will be used to build and expand loan management software, hire staff, and obtain the necessary licenses for its loan department Tare Credit LLC to operate nationwide.Tare was co-founded by Kevin Miao, Keerthi Moudgal, and Lucas Vogelsang, and plans to build software on the Avalanche blockchain to create digital records for loans and automate the management of related administrative tasks. Miao stated that the difference between the interest paid by borrowers and the returns received by investors is often absorbed by intermediaries, and the blockchain system can automate operational tasks and eliminate additional costs.

BitcoinTreasuries.NET posted on platform X that OranjeBTC (OBTC3) has launched the world's first Bitcoin-backed digital credit-themed ETF DIGY11 on Brazil's largest stock exchange B3. The ETF aims for an annualized return of approximately 18%, paid monthly.

BitcoinTreasuries.NET posted on platform X that OranjeBTC CEO Gui Gomes will ring the opening bell at Brazil's largest stock exchange B3 tomorrow, and DIGY11 will start trading on that day.Michael Saylor stated that this is exactly the type of expansion that STRC aims to promote.

According to Onchain Lens monitoring, the Alameda/FTX address has recently unstaked and transferred 202,700 SOL, worth 20.62 million USD, in the past half hour.Based on past records, similar transfers may be used for FTX creditor payments.

According to Bloomberg, citing informed sources, Italy's second-largest bank, UniCredit, is considering expanding its digital asset services, including cryptocurrency custody. Headquartered in Milan, UniCredit is selecting technology providers to build the infrastructure needed to hold digital assets and support their buying and selling.The report states that tokenized investment products, fixed-income securities, the use of stablecoins, and exposure to cryptocurrencies are all under consideration. Meanwhile, other banks in Europe are also expanding their crypto services: Spain's BBVA has launched Bitcoin trading and custody for all customers through its app, and Santander's Openbank has also introduced trading services; Germany's Deutsche Bank is collaborating with Bitpanda's technology department to build a custody business.The EU's Markets in Crypto-Assets Regulation (MiCA) provides a legal definition, regulatory bodies, and a familiar obligation framework for banks to launch crypto services. Additionally, UniCredit is one of 37 banks from 15 European countries that are jointly creating a company called Qivalis, aimed at issuing a euro stablecoin. Last year, the bank also offered structured products linked to the BlackRock iShares Bitcoin Trust ETF to professional clients, providing full loss protection.

According to Bloomberg, Italian bank UniCredit SpA is considering expanding its digital asset-related services, including the early-stage development of digital asset custody and brokerage capabilities.Insiders say the bank is screening technology providers to build infrastructure for holding digital assets and supporting buy and sell transactions.

According to the official announcement, Tether has announced the joint launch of a $400 million private credit fund, StableFund, in collaboration with Fasanara Capital, aiming to attract third-party institutional capital to $3 billion.The fund will provide short-term, asset-backed credit financing to small and medium-sized enterprises in over 60 countries worldwide. Tether will provide USDT settlement infrastructure and financing opportunities, while Fasanara will act as the investment manager.Tether CEO Paolo Ardoino stated, "USDT is designed to be a frictionless global currency available around the clock," and through this fund, Tether's financing network will be transformed into a direct capital channel flowing to the businesses and communities that need it most.

The People's Bank of China announced the overall operation of the payment system for the second quarter of 2026. By the end of the second quarter, a total of 10.267 billion bank cards had been issued nationwide. Among them, there were 677 million credit cards and credit card loans, a decrease of about 10 million cards compared to the end of the first quarter, and a decrease of nearly 20 million cards since the beginning of the year, averaging over 100,000 credit cards exiting the market each day. Compared to the historical peak of 807 million cards in the second quarter of 2022, the number of credit cards has been reduced by about 130 million.The mid-year report of listed banks in 2026 shows that the overdraft balances of credit cards from the six major state-owned banks decreased at the end of the first half compared to the end of the previous year. The Industrial and Commercial Bank of China had a credit card loan balance of 597.157 billion yuan, a decrease of 14.39% from the end of the previous year. By the end of June, the cumulative number of credit cards issued by Bank of China was about 152 million, with an increase of 1.76 million cards compared to the end of the previous year; China Merchants Bank saw a net increase of 256,300 cards to 97.7073 million cards.In terms of asset quality, the non-performing loan ratios for Agricultural Bank of China and Postal Savings Bank of China remained at 2.05% and 1.45%, respectively; the non-performing loan ratio for Industrial and Commercial Bank of China rose to 5.37%; and the non-performing loan ratio for Bank of Communications increased from 2.68% to 3.8%. The non-performing loan ratio for China Minsheng Bank rose to 4.22%, and for Industrial Bank, it rose to 3.79%. In the first half of the year, China Merchants Bank generated new non-performing loans of 23.698 billion yuan, with a non-performing loan ratio of 1.90%. In August 2026, the principal and interest of non-performing credit card transfers amounted to 12.2 billion yuan.

According to The Block, APX Lending has launched a five-year revolving credit product backed by Bitcoin and Ethereum, with interest rates starting at 10.49%.The company stated that borrowers can withdraw and repay credit on demand, with no origination fees, early repayment fees, or liquidation fees.

According to informed sources, the artificial intelligence company Anthropic PBC is about to finalize the expansion of its revolving credit facility to $15 billion, clearing obstacles for the company's IPO public filing.Morgan Stanley is leading this process, while Goldman Sachs, JPMorgan Chase, and Citigroup are also playing important roles in this credit arrangement. These four banks are also the lead underwriters for the company's IPO.

Echo Base is an institution focused on stabilizing digital asset companies, assisting in the formation of the BitMart Creditors' Committee, representing users holding frozen assets, and hiring legal advisors to evaluate recovery plans, including applying for bankruptcy proceedings without financial support. Echo Base had proposed a funding plan of up to $10 million to support BitMart in submitting a pre-negotiated bankruptcy application, but received no response from BitMart.Echo Base stated that the relevant actions stem from BitMart's failure to respond to the restructuring proposal and user withdrawal requests. Sonn Law Group has initiated an investigation for users with frozen assets of $500,000 or more at BitMart, assessing potential claims and asset recovery plans. Echo Base CEO Roshan Dharia stated that BitMart's employee plan can only sustain operations until January 2027, and the longer the delay, the fewer viable options there will be.

According to CoinDesk, the "credit pulse" indicator, which measures the speed of new credit in China relative to GDP changes, is flashing red. The Bloomberg China Credit Pulse Index recently reported 20.84 points, the lowest level since 2008. This indicator was proposed by economist Michael Biggs in 2008 and is considered related to the global manufacturing cycle, leading S&P 500 returns by about 12 months.Albert Edwards, a strategist at Société Générale, warned that ignoring China's recent monetary tightening could become "the biggest investment mistake of the decade." Despite the weakening indicators, Bitcoin surged 25% in August and briefly broke through $80,000, mainly driven by inflows from U.S. spot ETFs, short covering, and a catch-up rally of previously lagging assets compared to the stock market.Looking ahead, there are two scenarios: one is that Bitcoin continues to rise, as current crypto trading is primarily driven by U.S. institutional funds, reducing sensitivity to signals from China's credit conditions; the other is that if U.S. stocks decline as Edwards predicts, risk aversion may spill over into Bitcoin. Which scenario will materialize remains to be seen.

The Block's investigation shows that on the social trading app Fomo and Robinhood's self-custody wallet Robinhood Wallet, users can directly purchase Memecoin using credit cards via Apple Pay or Google Pay without completing a separate KYC identity verification. Transactions can also accumulate points or cash back rewards as normal credit card rewards. The media tested the purchase of WIF, and transactions on the Visa and Mastercard networks were classified under merchant category code MCC 5815 (digital goods media), rather than the cryptocurrency asset categories MCC 6012 or 6051 as stipulated by card organization rules, which typically come with crypto tags and do not earn rewards.These transactions are supported by the Token Checkout product from the crypto infrastructure company Crossmint. Crossmint insists that this classification is appropriate, citing the joint guidance released by the SEC and CFTC in March of this year, which views certain Memecoins like WIF as "digital collectibles." However, Chase stated that the Visa transaction was not marked as a cryptocurrency purchase and that the classification was incorrect, and they have initiated a case review with Visa; the New York Attorney General's office also stated that it is reviewing the matter. Vanderbilt University law professor Yesha Yadav and other payment experts believe that the SEC's position and card organization rules represent "two completely different systems."