Circle's (CRCL) newly approved national trust bank charter could create new long-term revenue opportunities beyond its core stablecoin business, Oppenheimer analyst Owen Lau said in a research note on Friday.
He said the charter immediately allows Circle to provide federally regulated digital asset custody for itself and its affiliates. Over time, it could also enable the company to offer custody services directly to banks and institutional clients and eventually manage reserves backing its USDC stablecoin.
While Lau cautioned that the near-term financial impact is likely to be limited, he called the approval another milestone for both Circle and the digital asset industry, noting it expands access to services traditionally offered by banks and could support new revenue streams over time.
The U.S. ADRs of South Korean memory chip maker SK Hynik (SKHY) opened at $170 late Friday morning, or up 14% from last night's IPO price of $149.
The Nasdaq is lower by 0.3%, while bitcoin has slipped from earlier highs, now trading at $63,900.
"The Islamic Republic of Iran has asked us to continue 'talks,'" posted President Trump minutes ago on Truth Social. "We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!"
Markets aren't really responding, with U.S. stock indices and oil remaining little changed on the session. Bitcoin continues trading just above the $64,000 level.
SK Hynix's (00060) U.S. listed ADRs have so far made a strong debut, with shares indicated to open at $181, about 22% above the $149 offering price, reflecting robust investor demand following the oversubscribed $26.5 billion listing, according to multiple sources. The rally highlights continued enthusiasm for AI linked semiconductor names, with investors willing to pay a premium for direct US exposure to the world's leading high bandwidth memory supplier.
Bitcoin has erased losses suffered earlier this week on the apparent resumption of hostilities in the Middle East. In Friday morning, U.S. trading, BTC has climbed to $64,500, up 3% over the past 24 hours.
Crypto-related stocks are higher across the board, led by Circle Financial's (CRCL) 15% jump as that company secured regulatory approval to establish a national trust bank.
Strategy (MSTR) is higher by 6.5%, re-taking the $100 level. Its preferred stock, STRC, is up 1.1% to $86.63.
Coinbase (COIN) and Galaxy Digital (GLXY) are up more than 5%, and Bullish (BLSH) is ahead 2%.
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