infrastructure

The HyperEVM native non-custodial lending protocol HypurrFi announced that it will gradually cease brand operations and transfer the lending market infrastructure based on Euler on HyperEVM to Euler for maintenance and operation.HypurrFi stated that all markets currently remain solvent and operational, with no security vulnerabilities or attacks on the protocol. User deposits, collateral, and positions are all safe and intact. Clearstar Labs will continue to serve as the risk curator for the Prime, Yield, and Earn vaults.The announcement stated that the HypurrFi Pooled market will enter an orderly shutdown phase over the next few weeks to months, with new lending currently suspended and lending limits gradually reduced to encourage user repayment migration. The USDXL interest rate has been raised to 30% to incentivize borrowers to repay their debts early. In addition, HypurrFi has launched a migration tool to help users transfer their positions to the Euler Prime and Yield markets. It stated that future Hyperliquid support will gradually be integrated into the official Euler UI.HypurrFi emphasized that this adjustment is a proactive operational decision, not a security incident or emergency. The Legacy and Pooled markets are expected to complete closure and liquidation by July 15, 2026.

Coinbase announced that it will launch perpetual contracts for four AI infrastructure stocks on May 18, including Cerebras Systems (CBRS), TSMC, Nebius Group (NBIS), and Bloom Energy (BE).The official statement indicated that the relevant contracts support long and short positions, leverage, and 24/7 trading, and will be open to retail and institutional traders in regions that meet liquidity conditions.

CoinList announced the launch of Passage, positioned as the "access layer" for on-chain capital markets, aimed at providing compliant distribution, capital access, allocation, and infrastructure support for tokenized assets.CoinList stated that as tokenized stocks, funds, yield products, and Pre-IPO assets gradually migrate on-chain, the current market still faces fragmentation issues among issuers, chains, and compliance rules, and that "asset tokenization does not equal effective distribution." Passage will connect issuers, platforms, and investors, helping tokenized assets achieve large-scale on-chain circulation.According to reports, Passage is built on CoinList's existing infrastructure. CoinList claims that since 2017, its platform has covered over 160 countries and has completed more than $1.2 billion in asset distribution.

According to CoinDesk, Kraken announced that it will use Chainlink's cross-chain interoperability protocol CCIP, replacing LayerZero as the exclusive cross-chain infrastructure for its wrapped assets, covering kBTC and more wrapped assets in the future. This migration involves over $3 billion in TVL, following a $292 million LayerZero-related cross-chain attack incident that occurred in April. Kraken stated that the migration will cover networks such as Ink, Ethereum, Unichain, and Optimism. kBTC is set to launch in 2024, with a current market value of approximately $260 million. Coinbase had previously also chosen Chainlink CCIP as the sole cross-chain bridge solution for about $7 billion in wrapped tokens.

According to CoinDesk, crypto wallet infrastructure Turnkey has completed a $12.5 million strategic financing, bringing the total funding to over $65 million. Major investors include Archetype, Circle Ventures, and Sequoia Capital.The new funds will primarily be used for the development and release of the digital asset security computing product Turnkey Verifiable Cloud.

ARK Invest CEO Cathie Wood stated that ARK is pleased to participate in Kalshi's latest round of financing. It believes that prediction markets are becoming a powerful new type of financial infrastructure that enables real-time price discovery around events, probabilities, and changes in the state of the world.Cathie Wood mentioned that Kalshi is at the forefront of this innovation, and ARK is excited to support a team that continually pushes the boundaries of how markets aggregate and express information, congratulating them on achieving this important milestone.Previously reported, Kalshi announced the completion of a new round of $1 billion financing, led by Coatue Management, with participation from ARK Invest and others, resulting in a post-money valuation of $22 billion. This is the company's third round of financing in the past 7 months, with the valuation roughly doubling after each new funding round. Currently, Kalshi has approximately 2 million monthly active users, with an annual trading volume reaching $178 billion and annual revenue exceeding $1.5 billion.

According to CoinPost, the Japanese blockchain infrastructure company Japan Blockchain Base has officially decided to issue a trust-based yen stablecoin EJPY, which is planned to be deployed on Japan Open Chain (JOC) and Ethereum, with the goal of launching issuance and circulation on JOC within the fiscal year 2026.The announcement stated that the trust-based framework required for EJPY has made phased progress. The company indicated that EJPY will focus on services for inter-company settlements, digital asset payments, transfers, and various Web3 payment scenarios, and will promote a multi-chain layout centered around JOC. Details regarding the actual issuance time, issuance conditions, cooperating institutions, and applicable blockchains will be announced separately after negotiations and necessary procedures with regulatory authorities and relevant institutions are completed.

According to CoinDesk, the three blockchains focused on stablecoins and tokenization, Arc, Canton, and Tempo, have collectively raised over $1 billion, reflecting an increasing demand from institutions for privacy-focused crypto infrastructure. Bitwise Chief Investment Officer Matt Hougan stated that as cryptocurrencies further enter mainstream finance, privacy features may become a key application scenario for the industry.Specifically, Circle recently raised $222 million for Arc, with a valuation of $3 billion; Digital Asset is reportedly raising $300 million for Canton, with a valuation of $2 billion; and Tempo, supported by Stripe and Paradigm, previously raised $500 million, with a valuation of $5 billion. Hougan also mentioned that the advancement of stablecoin legislation in the U.S. is providing a clearer regulatory environment for institutional investment in related infrastructure.

Movement announced that it has completed the acquisition of the on-chain Vault infrastructure project Canopy, further integrating key financial infrastructure within the Movement Network. Canopy has previously been an important part of the Movement ecosystem, primarily responsible for building the Vault layer on the Movement Network, with its smart contracts allowing users to allocate assets and strategize on-chain with independent strategy managers.After this acquisition, Canopy will collaborate more closely with the on-chain credit protocol MovePosition, and Movement is gradually building a complete on-chain financial infrastructure stack covering modules such as Vault, credit, and yield strategies. Movement stated that most public chain ecosystems still rely on third parties to provide core financial primitives, while Movement hopes to achieve deeper technical collaboration between Vault contracts and other components of the network through self-built and internally integrated methods.For developers, this means they can directly integrate core protocols that are continuously iterating; for partners, it means stronger consistency between the underlying infrastructure and the development team; for users, it is expected to provide a more unified on-chain financial product experience. The official also revealed that MovePosition and Canopy will gradually operate as a unified infrastructure, with more integration details to be announced in the coming weeks.

The stablecoin yield infrastructure project Osero announced the completion of a $13.5 million financing round, led by Sky Ecosystem (formerly MakerDAO), with Layer 1 blockchain developer Plasma co-leading. Other participants include RedStone, Maple co-founder Joe Flanagan, and USDT0 co-founder Lorenzo Romagnoli. The financing is structured as a SAFT (Simple Agreement for Future Tokens), with the round completed in March of this year.

According to Cointelegraph, Bakkt released its financial report for the first quarter of 2026, showing a net loss attributable to the company of $11.7 million, or a loss of $0.41 per share; compared to a net profit of $7.7 million in the same period last year.Due to a decline in cryptocurrency trading volume, Bakkt's cryptocurrency service revenue fell from $1.07 billion in the same period last year to $243.6 million, a year-on-year decrease of 77%, although most of this was offset by cryptocurrency costs and brokerage fees. The company held $82.6 million in cash at the end of the first quarter and has no long-term debt.Bakkt stated that it is transitioning from cryptocurrency trading infrastructure to stablecoin payments and AI financial infrastructure, and completed the acquisition of Distributed Technologies Research on April 30, gaining an AI-native payment engine and a stablecoin compliance technology stack.

On May 9 and 10, the Chainlink network recorded 282,170 and 264,090 unique active LINK addresses, respectively, the highest levels since September 2025. The surge in on-chain activity comes against the backdrop of several institutional-grade DeFi projects announcing their migration of cross-chain infrastructure to Chainlink CCIP. On May 7, Solv Protocol announced the completion of a security review following the April Kelp DAO vulnerability incident and decided to migrate over $700 million in tokenized Bitcoin assets (SolvBTC and xSolvBTC) from LayerZero to Chainlink CCIP.Previously, Kelp DAO had also announced the migration of its rsETH infrastructure to Chainlink CCIP. These initiatives represent a significant shift of institutional-grade DeFi infrastructure from LayerZero to the Chainlink cross-chain ecosystem. Additionally, earlier this month, data showed that whale wallets holding between 100,000 and 10 million LINK increased their holdings by 32.93 million LINK within 30 days.

According to the official announcement, Circle has launched a new infrastructure suite for the "Agentic Economy," called Circle Agent Stack, which includes products such as Circle CLI, Agent Wallets, Agent Marketplace, and Nanopayments based on Circle Gateway, supporting AI agents as autonomous economic entities for asset holding, service discovery, and on-chain payments.Among them, Nanopayments supports gas-free USDC transfers at a minimum level of $0.000001, aimed at high-frequency machine-to-machine payment scenarios; Agent Wallets allow AI agents to autonomously manage funds under preset permissions and risk control frameworks; Agent Marketplace provides an AI service directory, enabling agents to automatically discover and invoke services.Circle CEO Jeremy Allaire stated that traditional financial infrastructure is designed for "humans," while the future global economy will increasingly be driven by AI and agents. The Circle Agent Stack is the first complete product suite launched for "AI agents themselves" rather than developers.

According to official news, Tether has launched a developer grant program that will reward developers with USDT or Bitcoin for building localized AI and payment infrastructure. There is no total grant cap for this program, and rewards will be issued based on technical tasks and deliverables, with current individual bonuses ranging from $1,500 to $4,000.This funding focuses on Tether's open-source technology stack, including wallet infrastructure, browser extensions, e-commerce integration, and particularly supports its local AI platform QVAC. Tether stated that QVAC can run AI inference directly on the device locally, without relying on cloud servers, to reduce latency, costs, and data exposure risks.In addition, Tether will also promote the development of its Wallet Development Kit (WDK) ecosystem. This tool allows developers to directly embed self-custody wallets within applications, enabling local key generation, transaction signing, and asset transfers without relying on custodial services or third-party APIs.Tether CEO Paolo Ardoino stated that a significant amount of infrastructure still forces developers to rely on centralized platforms and data business models, and Tether hopes to fund systems that can "run locally, hold value directly, and have no external dependencies" to enter the market.

The stablecoin payment infrastructure platform WasabiCard recently announced its official membership in the Circle Alliance Program, becoming a member of its global stablecoin ecosystem cooperation network.It is reported that WasabiCard mainly targets global business scenarios, building integrated products around global card issuance, payment, and fund distribution to help enterprises manage global funds. Currently, its products have been applied in business scenarios such as AI, SaaS, advertising spending, cross-border e-commerce, and global settlement.The official stated that in the future, WasabiCard will deepen collaboration with Circle and global ecosystem partners, aiming to promote the large-scale implementation of compliant stablecoins like USDC in real business scenarios.