MEXC On-chain Daily Report: Mastercard Expands On-chain Settlement Network to Support Stablecoins

Updated: June 4, 2026, 09:30 (UTC+8) | Author: MEXC

1. Headlines

• UK plans to ease regulatory restrictions on stablecoins

• Stripe and Visa reportedly support a new stablecoin platform

• Mastercard expands on-chain settlement network support for stablecoins

• Kraken opens U.S. IPO participation to global retail investors

• USD1 to launch on MOVA Chain with an initial deployment of $100 million

2. Industry Updates

Variant Raises $222 Million Fund Focused on AI-Crypto Convergence

According to Fortune, crypto venture capital firm Variant has closed its $222 million Variant 4 fund, which will focus on early-stage projects at the intersection of artificial intelligence and blockchain technology. Variant partner Jesse Walden stated that crypto is increasingly evolving into foundational internet infrastructure, leveraging decentralized architectures and smart contracts to enhance user ownership and system security. The fund will prioritize autonomous applications, on-chain economies, AI-driven networks, and continue exploring opportunities within DeFi ecosystems such as Uniswap and Morpho.

Euroclear Plans to Launch Pythagore Tokenization Project in 2026

According to Cointelegraph, European financial infrastructure giant Euroclear announced that its Pythagore tokenization initiative targeting the €300 billion European commercial paper market is scheduled to go live in Q4 2026. The project aims to improve issuance, settlement, and asset transfer efficiency through blockchain technology. Industry observers view the initiative as another major step toward integrating tokenization into traditional securities markets.

UK Regulator Warns Football Clubs Over Unauthorized Crypto Sponsorships

According to Decrypt, the UK Financial Conduct Authority (FCA) has issued warning letters to football clubs, including organizations associated with the Premier League, regarding sponsorship arrangements with unauthorized crypto firms. Regulators emphasized that some crypto businesses may be offering services to UK consumers without proper licensing, creating potential consumer protection risks. The FCA stated it will continue coordinating with government agencies and sports regulators to strengthen oversight of financial promotions in professional sports.

U.S. Lawmakers Oppose Expanding Crypto Access in 401(k) Plans

According to Cointelegraph, U.S. Senators Bernie Sanders and Elizabeth Warren have voiced opposition to efforts by the Department of Labor to loosen restrictions on including cryptocurrencies in 401(k) retirement plans. Critics argue that crypto assets remain too volatile for retirement savings, while supporters maintain that investment decisions should ultimately remain with individual participants. The debate highlights ongoing divisions in Washington regarding the role of digital assets in long-term retirement portfolios.

WasabiCard Raises Pre-Series A Funding

According to Odaily, stablecoin payment infrastructure provider WasabiCard has completed a Pre-Series A financing round, bringing total funding to nearly $10 million. Investors include Vision Plus Capital and 01VC. The company plans to use the proceeds to expand its global payment network, develop stablecoin-linked card products, grow its enterprise customer base, and strengthen compliance operations. The team also aims to integrate AI agent payment capabilities and programmable payment workflows.

Coinbase Founder’s NewLimit Raises $435 Million

According to Odaily, longevity-focused biotechnology company NewLimit, co-founded by Coinbase CEO Brian Armstrong, has completed a $435 million Series C financing round at a valuation of $3.1 billion. The round was led by Founders Fund, with participation from multiple existing investors. Founded in 2021, NewLimit focuses on cellular reprogramming technologies aimed at slowing aging processes. The new capital will support continued research and development in life sciences and biotechnology.

AI Startup Special Completes New Funding Round Led by a16z

According to Odaily, AI startup Special has secured a new funding round led by Andreessen Horowitz (a16z). Founded by Nate Cavanaugh and Justin Fox, the company acquires established businesses and applies AI-driven operational improvements to enhance efficiency and reduce costs. The investor group also includes Coinbase CEO Brian Armstrong and Palantir CTO Shyam Sankar. Special aims to build a new generation of AI-optimized enterprise operations.

Solana x402 Ecosystem Surpasses $50 Million in Monthly Volume

According to Cointelegraph, total transaction volume across Solana’s x402 ecosystem exceeded $50 million in May. Active sending addresses increased 645% month-over-month to approximately 192,000. Data suggests that AI agent payment applications are becoming a major growth driver for the network. As automated payments, machine economies, and AI-powered applications continue expanding, adoption of the x402 protocol is accelerating within the on-chain payments sector.

3. MEXC Market Heatmap

Data Source: Real-time MEXC market data before 09:30 (UTC+8). Figures may change with market conditions.

Top 3 Gainers (24H)

• UBOX/USDT (+210.00%)

• OPN/USDT (+25.90%)

• AIX/USDT (+13.99%)

Top 3 by Trading Volume (24H)

• BTC/USDT (964.705M)

• ETH/USDT (556.627M)

• SOL/USDT (109.518M)

Trending Meme Tokens

• THREE/USDT

• TSG/USDT

• RAGEGUY/USDT

High-Risk Token Unlocks

• MemeCore/USDT — Jun 3, 15:15 (UTC+8): 165.53M unlocked, 4.29% of circulating supply (High selling pressure)

• Rain/USDT — Jun 11, 18:15 (UTC+8): 722.09M unlocked, 8.13% of circulating supply (Very high selling pressure)

• Humanity/USDT — Jun 24, 10:45 (UTC+8): 74.3M unlocked, 16.39% of circulating supply (Very high selling pressure)

Key Macro Events Today

• 02:00 — U.S. Federal Reserve Beige Book

• 04:00 — Federal Reserve Governor Logan Speech

• 16:00 — ECB President Christine Lagarde Speech

• 20:30 — U.S. Employment Data Releases

• 20:30 — Federal Reserve President Barkin Speech

• 23:40 — Bank of England Governor Andrew Bailey Speech

5. Risk Alert

Recent fraud cases involving over-the-counter (OTC) cryptocurrency trading have increased significantly. Scammers are exploiting market volatility and demand for large transactions by advertising discounted crypto sales or premium purchase offers through social media platforms, community groups, and messaging applications. Victims are often encouraged to bypass regulated exchanges and conduct private transactions directly.

Fraudsters may present forged transfer confirmations, fabricated trading records, or even impersonate escrow services to gain trust. Once assets are transferred, scammers may disappear or request additional payments under the guise of account verification, frozen funds, taxes, or service fees. Because OTC transactions generally lack platform-level dispute resolution and risk controls, recovering stolen funds can be extremely difficult.

Users are strongly advised to conduct transactions through reputable exchanges whenever possible, avoid sending funds to unverified third-party addresses, and remain cautious of any request for advance deposits, guarantees, unlocking fees, or processing charges. Always verify counterparties independently before proceeding with large-value transfers and prioritize the security of your digital assets.

MEXC Chain Observation Daily, updated daily at 09:30 am, strives to provide professional, timely, and in-depth market analysis for cryptocurrency practitioners. Welcome to share and subscribe.

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Risk Warning: The content of this article is for reference only and does not constitute any investment advice. The cryptocurrency market is volatile, please make a cautious decision based on your own situation.