Hong Kong Web3 Daily Must-Read: Exchange Launches XRP and SOL Futures Contracts with Spot Pricing

金色财经Published on 2025-12-18Last updated on 2025-12-18

Abstract

Hong Kong Web3 Daily Digest: CME Launches Cash-Settled XRP and SOL Futures Key developments include Hong Kong’s SFC adding "Hong Kong Stablecoin Exchange" to its alert list for suspicious activities. Animoca Brands plans to acquire up to 15% stake in GROW Digital Wealth. Charles Schwab now supports Solana and Micro Solana futures trading. Regulatory updates feature the UK FCA launching a consultation on new crypto rules, while the SEC warns of potential "financial panopticon" risks with excessive crypto surveillance. Project updates: Cosmos L1 Pryzm announces gradual shutdown by January 2026. New York pension fund increases MSTR holdings to $50M. BiSwap warns of malicious redirects on its website. Russia’s Sberbank tests DeFi products, and SBI Holdings plans a regulated JPY stablecoin. Market insights include Grayscale’s 2026 outlook predicting the end of crypto’s "four-year cycle" and Bitcoin potentially reaching new highs. Analysis also covers policy challenges for Xinjiang mining operations and structural issues hindering non-USD stablecoin growth. Fear & Greed Index sits at 16 (Extreme Fear), with BTC at $87,611. Hong Kong BTC/ETH ETF flows showed zero net subscriptions on Dec 16.

Compiled by: Nona, Techub News

TinTinLand

Fear & Greed Index: 16 (Extreme Fear) Bitcoin Price: $87,611 BTC/ETH Spot ETF Fund Flows (12.16) BTC Net Outflow: $75.17 M ETH Net Inflow: 0

Hong Kong

BTC/ETH Spot ETF Fund Flows (12.16)

BTC Net Subscription: 0 BTC

ETH Net Subscription: 0 ETH

Hong Kong SFC Adds "Hong Kong Stablecoin Exchange" to Suspicious Virtual Asset Trading Platform Alert List

The Hong Kong Securities and Futures Commission (SFC) has added "Hong Kong Stablecoin Exchange" to the category of suspicious virtual asset trading platforms. The SFC pointed out that this entity claims to operate a virtual asset trading platform on its related website and is suspected of conducting unlicensed activities and/or engaging in fraudulent activities related to virtual assets; it also falsely claims to be "co-established by Hong Kong's three major exchanges: HKEX, SEHK, and HKFE." The SFC emphasized that there is, in fact, no connection.

Animoca Brands Plans to Acquire Stake in GROW's Licensed Hong Kong Entity, Up to 15% Ownership

Animoca Brands has signed a term sheet with Chinese investment and asset management platform GROW Investment Group, planning a strategic investment in its Hong Kong licensed subsidiary GROW Digital Wealth related entities (including the licensed asset management company GROW Asset Management (HK) Limited), with a stake of up to 15%. This transaction is still subject to the execution of definitive agreements and obtaining relevant regulatory approvals.

Charles Schwab Announces Platform Upgrade to Support Purchases of Solana and Micro Solana Futures Products

Charles Schwab announced a latest upgrade to its trading platform today. It is reported that its retail trading volume has exceeded 7 million trades per day for three consecutive quarters. Clients trading futures on Charles Schwab can now purchase 17 new futures products, including: 1 OZ Gold (/1OZ), Solana (/SOL), and Micro Solana (/MSL).

Selected Hong Kong Events for December 2025

We have specially compiled a list of noteworthy events in the crypto field in Hong Kong for December, which will open a window to the future of Web3 for you.

Regulation/Macro

UK FCA Launches Consultation on New Crypto Regulatory Rules

The UK Financial Conduct Authority (FCA) launched a broad consultation on a series of proposed rules for the crypto industry on December 16. Previous news indicated that the UK Treasury will bring the crypto industry into the regulatory framework starting October 2027.

US SEC Chair: Crypto Assets Could Become a "Financial Panopticon," Regulation Should Balance National Security and Privacy

US Securities and Exchange Commission (SEC) Chair Paul Atkins, speaking at an SEC crypto working group roundtable, stated that he believes there is a path forward that can address national security concerns without sacrificing individual privacy, but excessive government involvement could tip the balance. Atkins warned that if regulation is misguided, cryptocurrency could become the most powerful financial surveillance architecture ever, turning the ecosystem into a "financial panopticon."

Project/Company News

Cosmos Ecosystem L1 Pryzm to Gradually Cease Operations, Targeting Completion by January 2026

Cosmos ecosystem yield-optimizing L1 Pryzm tweeted that it will gradually cease operations, targeting completion by January 2026. The team stated that maintaining the L1 is no longer financially sustainable and urged users to withdraw their assets as soon as possible within the next two to three days. Subsequent processes will be carried out in phases until shutdown.

New York State Retirement Fund Increases Its Holdings in MicroStrategy to $50 Million

The New York State Retirement Fund has increased its holdings in bitcoin financial company MicroStrategy (ticker: MSTR) to $50 million.

BiSwap Website Suspected of Malicious URL Injection, Possibly Redirecting to Gambling Sites

According to CertiK monitoring information, the website of BSC cross-chain trading platform BiSwap was found to be at risk of malicious URL infection, with related links potentially redirecting users to gambling websites. Users are advised to avoid accessing the BiSwap website via search or unfamiliar links recently, not to connect wallets or sign any authorization transactions, and to consider checking and revoking suspicious authorizations for already connected wallets to reduce asset risk.

Russia's Largest Bank Sberbank Tests Multiple DeFi Products, Says Traditional Banking and DeFi Will "Merge Soon"

Russia's largest bank, Sberbank, stated that it is testing various decentralized finance (DeFi) products to meet the growing demand from clients for trading and holding crypto assets. Anatoly Popov, Deputy Chairman of the Management Board of Sberbank, said the bank will work with regulators to develop digital asset products and believes traditional financial services and DeFi "will merge soon."

SBI Holdings Partners with Startale to Advance Regulated Yen Stablecoin

Japanese blockchain infrastructure company Startale Group and Japanese financial group SBI Holdings plan to launch a fully regulated, yen-pegged stablecoin for global settlement and institutional scenarios by the second quarter of 2026.

CME Group Launches XRP and SOL Futures Contracts with Spot Pricing

CME Group announced the launch of XRP and SOL futures contracts with spot pricing, supplementing its existing spot-priced Bitcoin and Ethereum futures products. CME stated that these contracts, priced based on the spot price and featuring longer expiration dates, can reduce the need for frequent rolling. The contract sizes are the smallest in its crypto product line, targeting a broader range of retail and professional traders. CME disclosed that spot-priced Bitcoin and Ethereum futures have seen cumulative trading volume of over 1.3 million contracts since their launch in June, with demand continuing to grow.

In-Depth & Forward-Looking

Grayscale | 2026 Digital Asset Outlook: The Dawn of the Institutional Era

We expect asset valuations to rise in 2026, ending the so-called "four-year cycle" theory, which suggests crypto market movements follow a repeating four-year pattern. We believe Bitcoin prices are likely to reach new all-time highs in the first half of the year.

Concentrated Shutdowns of Mining Farms Reappear in Xinjiang, Policy and Gray Zone Game Emerges

This also explains a seemingly contradictory phenomenon: the ban has not disappeared, but mining still periodically surfaces. It's not because the red line has loosened, but because the constraints of real-world assets never stop: electricity, data centers, power distribution, depreciation, and cash flow will constantly push participants to test the boundaries.

Opinion

Why Has the Growth of Non-USD Stablecoins Stalled?

My core view is: structural failures in the global foreign exchange market outside the G7 have created a "liquidity vacuum" in non-USD cross-border settlements. Therefore, to solve the liquidity problem of non-USD stablecoins, a DeFi-native approach must be adopted for liquidity bootstrapping. Any on-chain FX solution that relies on traditional forex markets is doomed to fail.

Big Pancake Falls Back to $10k?! A Bloomberg Expert Gives the Most Pessimistic Prediction

The Fed sent an unusual signal at its December 10 interest rate meeting: not only did it cut rates by 25 basis points, but there were also three dissenting votes, and Powell bluntly stated that job growth in previous months may have been overestimated.

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Related Questions

QWhat new futures contracts did CME Group announce, and how are they quoted?

ACME Group announced the launch of cash-settled XRP and SOL futures contracts. These contracts are quoted based on the spot price, similar to their existing Bitcoin and Ethereum futures products.

QWhy is the Securities and Futures Commission of Hong Kong warning the public about 'Hong Kong Stablecoin Exchange'?

AThe SFC has listed 'Hong Kong Stablecoin Exchange' on its alert list because the entity is suspected of operating a virtual asset trading platform without a license and/or engaging in fraudulent activities. It also falsely claimed to be 'co-established by Hong Kong's three major exchanges: HKEX, SEHK, and HKFE'.

QWhat is the significance of Charles Schwab adding Solana and Micro Solana futures to its platform?

AThe addition of Solana (/SOL) and Micro Solana (/MSL) futures products by Charles Schwab, a major retail brokerage, signifies growing institutional and mainstream retail access to cryptocurrency derivatives. The platform reported strong retail trading volume, with over 7 million average daily trades for three consecutive quarters.

QAccording to the article, what is the core reason for the stagnation of non-USD stablecoin growth?

AThe core reason is a structural failure in the global foreign exchange market outside of the G7, which has created a 'liquidity vacuum' for non-USD cross-border settlements. The article argues that any on-chain FX solution relying on traditional forex markets is destined to fail, and a DeFi-native approach is needed to bootstrap liquidity.

QWhat major step is the UK's Financial Conduct Authority (FCA) taking regarding the crypto industry?

AThe UK's Financial Conduct Authority (FCA) has launched a broad consultation on a series of proposed rules for the crypto industry. This follows the UK Treasury's plan to bring the crypto sector into its regulatory framework starting in October 2027.

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Kraken Changed Its Vote at the Last Minute, Solana's Inflation Policy Narrowsly Passes by 0.33 Percent

Kraken’s last-minute vote reversal secured the passage of SGP-0002, a pivotal Solana governance proposal to accelerate the network’s annual inflation reduction from 15% to 30%. The final vote tally was 67.001%, narrowly exceeding the required 66.667% supermajority by just 0.334 percentage points. This change will bring Solana’s terminal inflation rate of 1.5% forward to around 2029, reducing future SOL issuance over six years by approximately 18.9 million tokens (about 2.6% of current supply). The vote, the first major test of Solana’s new on-chain governance system, saw intense drama. The Kraken 2 validator, controlling about 8.9 million staked SOL, switched from support to opposition hours before the deadline, pushing the "yes" vote below the passing threshold. A flurry of lobbying, including direct outreach by Helius CEO Mert Mumtaz, ensued. Kraken ultimately flipped back to supporting the proposal, and JitoSOL holders used the "staker override" mechanism to bypass opposing validators and vote directly with their stake. While SGP-0002 passed, a companion proposal (SGP-0003) to restructure transaction fees failed, indicating community willingness to adjust token supply but hesitance to change fee economics. The approved proposal now moves to a technical implementation phase, requiring client teams to code and activate the change. The event highlighted both the power of large validators and the resilience of Solana’s governance mechanisms, marking a significant, albeit messy, step in decentralized monetary policy management.

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What is XRP 2.0

XRP 2.0: A New Frontier in the Cryptocurrency Landscape Introduction to XRP 2.0 In the ever-evolving realm of cryptocurrency, new projects continuously emerge, vying for attention and adoption. One such promising initiative is XRP 2.0, a novel cryptocurrency project designed to leverage advanced blockchain technology and robust encryption methodologies. While the name draws parallels with Ripple’s XRP, it’s crucial to note that XRP 2.0 operates independently, focusing on enhancing transaction security, privacy, and scalability. As the digital financial landscape increasingly embraces decentralized solutions, XRP 2.0 aims to contribute meaningfully to web3 and the overall expansion of crypto projects. What is XRP 2.0? At its core, XRP 2.0 is a cryptocurrency project that aims to create a secure and decentralized digital currency ecosystem. Its foundational technology integrates sophisticated blockchain principles with cutting-edge encryption techniques. The overarching goal of XRP 2.0 is to establish itself as a reliable and efficient platform enabling swift transaction execution while prioritizing enhanced privacy protections for its users. The project is promoted as a solution to many limitations faced by existing cryptocurrencies, proposing a system that can handle a higher volume of transactions with improved speed and privacy. This versatility positions XRP 2.0 as a significant contender in a marketplace riddled with various digital currencies. Who is the Creator of XRP 2.0? The identity of the creator behind XRP 2.0 has been flagged as ‘Wilbur.’ However, comprehensive details regarding Wilbur or their associated entity remain elusive. The anonymity of many cryptocurrency creators is not an uncommon phenomenon in the industry, often designed to maintain a degree of privacy and security. Who are the Investors of XRP 2.0? As of now, specific information related to the investment foundations or organizations supporting XRP 2.0 is not publicly available. In the cryptocurrency sector, the backing by reputed investors can significantly influence a project's credibility and success, yet the transparency regarding the financial supporters of XRP 2.0 has not been established. How Does XRP 2.0 Work? XRP 2.0 stands out by employing a combination of blockchain technology and advanced encryption algorithms that ensures secure and decentralized transactions. Its innovative structure includes unique features designed to foster user engagement and broaden functionalities beyond conventional cryptocurrency transactions. Among these features, XRP 2.0 incorporates AI-powered capabilities, such as text-to-image and text-to-speech functionalities. These additions are designed to enhance the interactive experience for users, promoting broader applicability across various sectors. By bridging technological advancements with user-centered design, XRP 2.0 aims to capture the attention of a diverse range of individuals and enterprises looking to integrate cryptocurrency solutions into their operational frameworks. Timeline of XRP 2.0 Understanding XRP 2.0 requires examining the milestones that have defined its journey thus far: July 23, 2023: XRP 2.0 is introduced as a novel cryptocurrency project, aiming to revolutionize secure and decentralized transaction capabilities in the blockchain domain. September 8, 2023: The launching of another project, XRP20, occurs, marking the emergence of an ERC-20 token on the Ethereum blockchain that remains unrelated to XRP 2.0. November 13, 2023: The XRP Ledger undergoes a significant update with the release of rippled server software version 2.0.0. It is essential to note that this development is disconnected from the XRP 2.0 cryptocurrency project. Key Points About XRP 2.0 To distill the essence of XRP 2.0, several critical factors emerge: Unique Features: The inclusion of features like AI-powered text-to-image and text-to-speech further diversifies the potential applications of XRP 2.0. Blockchain Technology: The framework utilizes advanced blockchain mechanisms and encryption protocols, ensuring a secure and decentralized environment for transactions. Scalability and Privacy: XRP 2.0 prioritizes enhanced privacy protections in transaction processes and the scalability necessary to accommodate a growing user base. No Affiliation with Ripple: Importantly, despite its name, XRP 2.0 does not have any allegiance or collaboration with Ripple’s XRP, distinguishing its operational framework and objectives within the cryptocurrency ecosystem. Conclusion XRP 2.0 represents an ambitious venture into the cryptocurrency sphere, aiming to offer a combination of security, privacy, and efficiency in digital transactions. By integrating sophisticated technologies and user-friendly features, the project sets out to broaden the horizons of what cryptocurrency can achieve in today's digital economy. While the anonymity of its creator and lack of disclosed investors might raise questions for some, XRP 2.0's focus on advanced functionalities and decentralisation enhances its appeal amidst an increasingly crowded crypto market. As the cryptocurrency landscape continues to evolve, XRP 2.0 may yet emerge as a pivotal player in the expansion of secure and scalable blockchain solutions.

1.7k Total ViewsPublished 2024.04.01Updated 2024.12.03

What is XRP 2.0

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