Shariah-Compliant Stablecoin PUSD Moves Into MidEast Institutional Arena
NewsBTC·60-word summary·1 min read
PUSD, a Shariah-compliant stablecoin backed by Saudi riyals and UAE dirhams, has expanded into the Middle East on the ADI Chain. With $2.3 billion in circulation, it operates on Ethereum, BNB Chain, Solana, and Tron. The stablecoin aims to facilitate Islamic finance transactions across the Gulf, Middle East, and Africa, supporting a $3 trillion market.
Hong Kong is advancing its Web3 strategy with $2 billion in tokenized bonds, aiming to boost financial efficiency. The move includes regulatory support for digital assets, promoting blockchain integration into mainstream finance. This effort seeks to attract global firms and position Hong Kong as a leading Web3 hub in Asia.
Robinhood Markets is expanding into private markets and seeking regulatory approval to launch brokerage services in Singapore in 2026. CEO Vlad Tenev announced plans to broaden retail access to private markets through Robinhood Ventures, emphasizing transparency and investor opportunity. This move aims to diversify Robinhood’s offerings and strengthen its global presence amid ongoing product innovation.
Bitcoin ETF inflows have turned fully positive across all key timeframes, led by Blackrock’s IBIT, indicating renewed institutional demand for bitcoin exposure. This shift suggests increased investor confidence and could influence bitcoin’s short-term price and overall market momentum. The sustained inflows highlight growing institutional interest in crypto assets as of April 2026.
Bitcoin surged to $78,700, reflecting a shift from market pessimism to FOMO on April 23, 2026. The rally underscores changing investor sentiment, which could influence future investment strategies and regulatory approaches. The price movement highlights the dynamic nature of the crypto market and the potential for rapid shifts in market perception.
As of April 23, 2026, XRP is trading near $1.45, supported by U.S. ETF inflows and improved regulatory clarity. The token's price is around $1.438, with a market cap of approximately $88.5 billion. Increased on-chain activity on the XRP Ledger signals a shift toward ecosystem growth and structural adoption, strengthening XRP's outlook amid recent market resilience.
Gannon Ken Van Dyke was arrested by the US DOJ for insider trading, having profited over $400,000 through bets on Polymarket. He was allegedly involved in a 2023 operation that led to the capture of Venezuela’s President Nicolas Maduro and his wife, Cilia Flores. The arrest highlights ongoing concerns over illegal activities linked to Web3 platforms and political figures.