Interpol operation exposes $122M crypto wallet tied to romance scam laundering
A crypto wallet linked to a suspected romance-scam money launderer processed more than $122.5 million in 10 months, according to Interpol.
Interpol said that Thai authorities arrested two suspects and uncovered a money-laundering network that funneled proceeds from romance scams into cryptocurrencies, using cross-chain token swaps to obscure the trail.
The investigation was part of Operation First Light 2026, an Interpol-coordinated campaign targeting social engineering scams and the financial infrastructure used to launder their proceeds.
The operation involved authorities in 97 countries and territories, resulting in 5,811 arrests and the seizure of $293 million in illicit assets tied to fraud and money laundering.
Romance scams, also known as pig-butchering scams, often involve criminals building trust with victims through social media or online dating platforms before steering them toward fraudulent investment schemes.
Authorities carried out raids on scam centers. Source: Interpol
Hyundai completes USDT treasury settlement pilot between US and Mexico
Hyundai Motor’s US and Mexican units completed a pilot cross-border treasury transfer using Tether’s USDT stablecoin, settling a $20,000 payment in about seven minutes on the Avalanche blockchain.
Hyundai Motor America converted the funds into USDT, transferred the stablecoin to Hyundai Motor Mexico and converted it back into US dollars. The transfer and verification process took about seven minutes, compared with three to four hours or more for a traditional cross-border bank transfer.
Tether said the pilot used Axiym’s settlement infrastructure, while Hyundai Card designed the remittance structure and oversaw the regulatory, compliance, accounting and operational requirements needed to support the proof of concept.
Japan’s SBI to launch yen stablecoin lending with 3% yield
Tokyo-based SBI VC Trade will begin accepting applications Thursday for a Japanese yen-denominated stablecoin lending service offering an initial annualized rate of 3% on JPYSC lent for 12 weeks.
Customers will lend JPYSC to the SBI Holdings subsidiary from Thursday and receive the tokens back with a lending fee at maturity, the company said in a Monday press release. At the advertised rate, the gross return over the 12-week term would be about 0.69%, before tax.
The company said the product pays more than the 0.325% to 1% annual rate SBI cited for ordinary yen deposits. Still, it is not a bank deposit, is not covered by deposit insurance and generally cannot be canceled early.
Japanese lender launches Bitcoin-backed loans of up to $6.2M
Japanese lender CRYL has launched Bitcoin-backed loans of up to 1 billion yen ($6.2 million), allowing individuals and businesses to raise fiat currency without selling their BTC.
On Thursday, the company announced that borrowers can access between $6,200 and $6.2 million at annual rates of 3.5% to 7%. The loans carry collateral ratios of 40% to 60%. They run for one year and can be used for expenses, including taxes, business funding and property purchases.
The launch expands Japan’s small market for regulated crypto-backed financing. In 2020, Fintertech, a Daiwa Securities Group and Credit Saison joint venture, launched a similar service and currently lends up to $3 million against Bitcoin or Ether. However, CRYL’s service advertises a higher ceiling and a lower minimum, while limiting collateral to BTC.
Metaplanet explores Bitcoin-backed digital credit with JPYC in Japan
Japanese Bitcoin treasury company Metaplanet has teamed up with stablecoin issuer JPYC and tokenization infrastructure provider Progmat to study Bitcoin-backed digital credit products in Japan.
The investigation will examine whether Bitcoin can be used as collateral or credit enhancement for digital corporate bonds and other credit instruments, with 24/7 accessibility, settlement and daily interest accrual for holders, issued on the blockchain ledger. No product has been launched yet as part of the experiment.
The news suggests Metaplanet is looking beyond its role as a Bitcoin treasury company and testing how Bitcoin could be used as a productive balance sheet asset.
Digital credit instruments have been an important part of Strategy’s playbook. The world’s largest corporate Bitcoin holder has relied on “digital credit” instruments such as the STRC preferred stock as a primary vehicle for raising capital to acquire more Bitcoin.
Joint Study in the Digital Credit Domain Utilizing Bitcoin, JPYC, and Security Tokens. Source: Metaplanet
Japan stablecoin payments advance with Lawson trial, Netstars launch
Japanese convenience-store operator Lawson plans to test yen-denominated stablecoin payments at a Tokyo location in August, examining whether stablecoin payments can work inside a standard convenience store checkout flow.
On Monday, blockchain company HashPort said it had signed an agreement to conduct the trial at the Lawson Takanawa Gateway City store. Participants will use HashPort’s non-custodial wallet, while the store will process payments through the company’s point-of-sale system without needing to open or manage crypto wallets.
The pilot aims to explore how stablecoin payments can be integrated into Japan’s existing retail infrastructure while shielding merchants from much of the operational complexity associated with accepting digital assets.
Bitdeer stock jumps 14% as company expands US mining hardware production
Bitdeer shares rallied after the company announced a $36 million Nevada manufacturing facility that will produce its SEALMINER Bitcoin mining machines and expand its hardware business.
The gains for the Singapore-based miner followed Bitdeer’s announcement that it will build a manufacturing facility in Sparks, Nevada. It will produce key mining hardware components, with commercial production expected to begin by the end of the year.
Bitdeer Technologies Group (BTDR) stock. Source: Yahoo Finance
Hong Kong regulator orders new anti-phishing measures for crypto platforms
The Hong Kong Securities and Futures Commission (SFC) on Thursday issued new requirements for phishing-resistant authentication methods for virtual asset trading platforms (VATPs) and online brokers in the special administrative region.
The new standards require stronger phishing-resistant authentication methods and device binding while prohibiting the use of one-time passwords through SMS, email or app-based logins. Platforms must implement the changes within the next 12 months.
Bank of Korea stands firm on bank-led stablecoin push as deposit token pilots advance
The Bank of Korea (BOK) has doubled down on its stance that won-denominated stablecoins should first be issued through bank-led consortiums.
According to local reports from Digital Asset and EDaily, the BOK also called for new safeguards including a statutory policy body involving relevant agencies to oversee the sector.
The latest comments reinforce the BOK’s months-long push to keep won stablecoin issuance under bank-led structures. The central bank’s stance has divided policymakers and industry groups and contributed to delays in South Korea’s digital asset bill.
Regulators invited Binance to seek new licenses after MiCA setback, co-CEO says
Binance co-CEO Richard Teng says some regulators have invited the exchange to apply for crypto licenses after it failed to secure permission to operate in Europe.
Teng said the discussions are still “premature” and declined to identify the jurisdictions.
MiCA created a single licensing framework for crypto firms across the European Union, with non licensed firms unable to operate in the block after July 1. Binance withdrew its application for a MiCA license in Greece on June 24, after report that Greek regulators were planning on knocking it back.
“It caught us by surprise because we submitted a fully compliant application. The regulators told us as much,” Teng said.
“We are not quite sure why the approval kept being delayed. We withdrew the application because otherwise our users would have faced a very short transition period,” he added.
Richard Teng. Source: Binance
Asia crypto news in brief
Temasek says no to crypto
Singapore sovereign wealth fund Temasek is still smarting from having to write down $275 million on its FTX investment. Its Global Investment Head said this week that crypto remains “off the table” for now, though it’s still keeping an eye on developments in the blockchain sector.
HSBC’s blockchain note
HSBC and Marketnode teamed up to complete the private placement of a “digitally native” USD denominated note issued on blockchain in Hong Kong.
Japan’s crypto ETFs and credit
The Japanese government remains on track to launch crypto ETFs in the country, following recent legislative amendments to the Financial Instruments and Exchanges Act
SBI Solana Global
Japanese asset manager SBI Holdings has teamed up with the Solana Foundation to launch a new division called SBI Solana Global, focused on stablecoins, international payments and RWAs.
India crypto ban looms
The Reserve Bank of India said it is “leaning” towards a total prohibition on crypto and has recommended that legislators prevent banks and financial institutions from getting involved in the sector.
Thailand stablecoin audits
The Bank of Thailand and the Thai SEC are using blockchain analytics tools to investigate suspicious high-volume stablecoin transactions, with a particular focus on USDT.
