GRAM has rebounded toward $1.40 after Telegram began releasing its self-custodial Gram Wallet to selected users, while trading volume jumped about 137% around the announcement.

Telegram begins phased Gram Wallet release

Telegram CEO Pavel Durov said the company had started giving selected users access to Gram Wallet before expanding availability over the next several weeks.

“We’ll be gradually rolling it out to our billion+ users over the next couple of weeks,” Durov said in a Telegram post.

Built directly into the messaging app, Gram Wallet will become the default wallet displayed in Telegram’s user settings. The product uses a self-custodial structure, allowing users to control their assets instead of leaving custody with a centralized service provider.

Telegram plans to support instant, zero-fee transactions through the wallet, according to Durov. Users will be able to send funds, make payments, and purchase products or services inside the app. Gram Wallet will also support Telegram Collectibles, a category that includes digital gifts, usernames, and phone numbers.

The release follows an announcement in July, when Durov said Telegram would bring a native, non-custodial wallet to every version of its app. As crypto.news reported at the time, the company did not provide details about identity checks, account recovery, security safeguards, or regional restrictions.

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Telegram reported more than 1 billion monthly active users in 2025. Durov has not disclosed an adoption target for Gram Wallet or specified how many users received access during the first phase.

According to Durov, network validators approved the smart contract that powers the wallet before the rollout began. Its design allows developers to upgrade the product without forcing users to transfer their holdings to a replacement contract.

Gram Wallet and Walt serve different functions

Alongside the new product, Wallet in Telegram has changed its name to Walt and will no longer appear as the platform’s default crypto wallet.

Telegram’s product structure assigns everyday transfers, payments and purchases to Gram Wallet. Walt will remain available through Telegram search for users seeking trading, investment, and multichain services.

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The two products will remain connected, with Walt supporting multichain deposits into Gram Wallet. Walt currently handles deposits, withdrawals and holdings for more than 300 crypto assets across four blockchains, according to an announcement shared with Cointelegraph.

Its trading service covers more than 200 assets, while its tokenized-asset catalog contains over 100 stocks, exchange-traded funds and metals. Walt also offers yield products and perpetual futures tied to more than 70 assets, including cryptocurrencies, oil, natural gas, and metals.

Andrew Rogozov, founder and CEO of The Open Platform and Walt, said the service started as a simple product for purchasing Toncoin before adding Earn products, real-world assets, and perpetual trading over the past four years.

Gram Wallet, by comparison, has been positioned as a simpler payment product built around GRAM and Telegram’s internal services. Telegram has not said whether every feature will be available in all countries when the phased release is completed.

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GRAM rebrand restored Toncoin’s original name

The wallet launch has arrived about two and a half months after Toncoin officially became Gram.

A community vote approved the change with 81.22% support, and the new identity took effect on June 15. The blockchain retained The Open Network name, while its native asset changed from Toncoin and the TON ticker to Gram and GRAM.

A guide to the rebrand published in June explained that the change did not create a new token or require a swap. Wallet balances, addresses, smart contracts and staking positions remained in place, with only the asset’s name, ticker and logo changing.

GRAM previously gained nearly 19% when Durov first disclosed the planned rename in early June. The token reached about $2.21 before giving back part of the move, according to earlier market coverage.

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The Gram name originated in Telegram’s 2018 blockchain project, but its first planned distribution faced enforcement action in the United States. The SEC sued Telegram in 2019, alleging that its $1.7 billion fundraising arrangement and planned token distribution formed an unregistered securities offering.

A federal court later blocked the distribution, and Telegram settled the case in 2020. According to an SEC commissioner’s account, the settlement included $1.2 billion in disgorgement for returning money to purchasers. Telegram also agreed to pay an $18.5 million civil penalty.

Independent developers continued working on the open-source network after Telegram left the original project. The current GRAM token is the renamed native asset of the network that emerged from that independent development, rather than a new distribution of the tokens blocked in the 2020 case.

GRAM price tests resistance near $1.39

Market data showed GRAM trading near $1.40 at press time, up approximately 2.07% over 24 hours. The announcement initially carried the token close to $1.45 before sellers erased part of the advance, while trading volume increased by about 137%.

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On the 4-hour chart, the latest displayed candle opened at $1.338, reached $1.457, and fell as low as $1.332 before returning to approximately $1.385. The candle represented a gain of about 3.44%, although its long upper wick showed that selling increased above $1.45.

Bollinger Bands on the chart placed the 20-period midpoint near $1.360. GRAM moved above that line during the rebound and reached the upper band at approximately $1.386, making the $1.385–$1.40 range the first resistance area visible on the indicator.

A sustained move above $1.40 would leave the recent $1.45–$1.46 rejection zone as the next chart barrier. The 4-hour chart shows that sellers previously defended the same region during the wallet-driven price spike.

On the downside, the Bollinger midpoint near $1.360 provides the first visible support, followed by the lower band around $1.333. The Awesome Oscillator remained below zero at approximately minus 0.029, showing that bearish momentum had not fully cleared despite the rebound in the latest candle.

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Bitmine Immersion Technologies has continued to build its Ethereum position, extending a weekly buying streak to 65 consecutive weeks by adding 53,501 ETH over the past week. The company’s expanding treasury comes as a broader crypto market rebound has lifted the value of its digital-asset holdings, even as it remains exposed to large paper losses on its Ether purchases.

With the most recent transaction, Bitmine says it now holds more than 5.9 million ETH. Using an Ether price of $2,511 referenced for Sunday pricing, the holdings were valued at roughly $14.8 billion. Bitmine’s current stake represents about 4.9% of Ethereum’s circulating supply of 120.7 million ETH, putting it close to its stated objective of reaching a 5% ownership level.

Key takeaways

• Bitmine added 53,501 ETH last week, extending its Ethereum accumulation streak to 65 straight weeks.
• The company’s wallet now contains more than 5.9 million ETH, valued around $14.8 billion at an ETH price of $2,511 (Sunday reference).
• Bitmine’s stake is about 4.9% of Ethereum’s 120.7 million circulating supply, nearing its goal of 5% ownership.
• Unrealized losses remain substantial: DropsTab data places Bitmine’s paper loss on Ether at about $5.1 billion.
• Bitmine’s chairman, Tom Lee, highlighted ETH’s relative strength alongside BTC and Solana since June 30.

Ethereum accumulation pushes Bitmine toward its 5% target

Bitmine’s latest purchase reinforces a steady approach to treasury building: the company has been acquiring Ether nearly continuously on a weekly basis since its prior buying run began. This time, the addition of 53,501 ETH lifts the total holdings beyond the 5.9 million ETH threshold, narrowing the gap to the company’s stated ambition to hold 5% of Ethereum’s circulating supply.

On the figures reported, Bitmine’s 4.9% share of Ethereum’s circulating supply suggests the company is operating at a scale where small percentage movements can translate into very large absolute changes. The market relevance is straightforward: such concentrated holdings can become a focal point for investors tracking institutional-style Ethereum exposure through public equity.

Large unrealized losses persist despite market recovery

Even with the apparent tailwind from a broader market recovery, Bitmine’s balance sheet still reflects the cost of accumulating through a downturn. According to DropsTab data, the company is currently sitting on roughly $5.1 billion in unrealized losses on its Ether holdings.

These paper losses are consistent with the idea that Bitmine continued accumulating during a period when Ether and the broader crypto complex were under pressure. The source notes that the downturn began in the fourth quarter of last year, driving significant declines across crypto markets. In that context, the fact that Bitmine is still deep in negative unrealized territory helps explain why the share performance and narrative are likely to stay tied to how much of the recovery is sustained rather than how the portfolio performs in isolation.

For investors, the key nuance is that unrealized losses do not mean realized capital destruction—Bitmine’s approach appears to be holding rather than trading around market swings. But if volatility increases again, the magnitude of unrealized losses can also amplify skepticism about whether continued accumulation during risk-off periods is improving the long-term average entry or simply delaying recovery.

Chairman Tom Lee points to ETH outperformance since June 30

Bitmine chairman Tom Lee said Ether, Bitcoin, and Solana have been among the best-performing major assets since June 30, with ETH leading the gains. His comments frame the company’s accumulation strategy around relative performance and momentum in the market rather than a single catalyst.

Lee also argued that this setup could encourage institutions to add to crypto holdings. He linked that potential shift to what he characterized as crypto’s outperformance versus other macro assets in the third quarter so far.

While the statement is broad, it matters because it connects Bitmine’s actions—systematic accumulation—with a broader institutional thesis. Publicly traded vehicles that hold large crypto treasuries often get attention when the market believes institutions are reallocating. For readers, the question becomes whether ETH’s relative strength persists beyond short-term cycles, especially after a multi-month rebound.

Bitmine shares react as the ETH treasury expands

Bitmine’s NYSE-traded shares (BMNR) were up 1.3% on Monday morning, trading at $24.09 per share. Yahoo Finance data indicated the stock was positioned to end the month with close to a 40% increase, based on its performance at the time of reporting.

This matters for two reasons. First, the market is effectively pricing the continued expansion of Bitmine’s Ether exposure, which can influence investor sentiment toward companies holding crypto as a treasury asset. Second, because Bitmine still reports large unrealized losses, equity market reactions can serve as a barometer for whether investors are comfortable with drawdowns in exchange for a longer-term accumulation plan.

What to watch next for Bitmine and Ethereum exposure

Readers should watch whether Bitmine can continue its weekly pace without interruption and how quickly unrealized losses narrow as Ether’s price and broader risk sentiment evolve. Just as importantly, attention will likely focus on whether ETH’s recent relative outperformance—highlighted by Tom Lee—continues long enough to validate the “institutional re-risking” argument behind treasury building through volatile cycles.

Webull, the retail trading platform known for commission-free stocks and options, is taking a bigger step into digital assets by expanding its Canadian offering to include cryptocurrency trading. The move adds Canada to Webull’s existing crypto footprint, which already includes the United States, Australia, and Brazil.

According to Webull’s announcement, the company will use Coinbase’s Crypto-as-a-Service (CaaS) infrastructure for its Canadian crypto capabilities, with Coinbase handling the underlying trading and custody functions. Webull’s Canadian website currently lists 10 cryptocurrencies—among them Bitcoin, Ether, and Solana—while also indicating that additional assets may be available later.

Key takeaways

• Webull’s Canada launch brings cryptocurrency trading to a platform that already offers stocks, ETFs, and options for retail users.
• The service is powered by Coinbase’s Crypto-as-a-Service, with Coinbase providing trading and custody.
• Webull points to rising Canadian interest in crypto, citing Ontario Securities Commission research showing ownership growth.
• Canada’s regulatory work—including a federal stablecoin framework effort—remains a key backdrop for future product expansion.

Why Webull is adding crypto in Canada

Webull framed the expansion around increased retail engagement with digital assets in Canada. The platform referenced research from the Ontario Securities Commission (OSC), which it says indicates crypto ownership climbed to 25% this year from 10% in 2023.

The underlying message for investors and traders is straightforward: Webull is responding to demand for broader brokerage-style access to crypto, not just standalone exchanges. For Canadian retail users who already use Webull for traditional markets, the addition of crypto could reduce friction—bringing a familiar interface and account setup to a category that many consumers previously accessed through separate platforms.

Webull’s Canadian crypto offering currently shows 10 coins, including Bitcoin, Ether, and Solana. The site also signals that more assets may be offered, though the announcement does not specify which additional tokens are planned.

How Coinbase custody and trading infrastructure fits in

Webull’s approach in Canada relies on third-party infrastructure rather than building custody and execution systems from scratch. The company said its Canadian crypto offering will run on Coinbase’s Crypto-as-a-Service, with Coinbase responsible for both trading operations and custody.

For users, this structure matters because custody and execution are among the most operationally sensitive parts of any crypto brokerage experience. By outsourcing these elements, Webull can focus on front-end onboarding, account access, and the user experience, while Coinbase provides the infrastructure behind the scenes.

Canada’s regulatory momentum—and stablecoins in focus

Crypto product launches in Canada are unfolding alongside ongoing regulatory efforts to clarify how the industry should operate. Webull pointed to the broader picture: regulators are working on clearer rules, including a federal framework for stablecoins.

While Canada still lacks comprehensive rules for fiat-backed stablecoins, the Stablecoin Act—introduced after the 2025 federal budget—would establish requirements for both domestic and foreign issuers. This is a notable development because stablecoins are often central to on-ramps and trading ecosystems. When stablecoin rules are uncertain, exchanges and brokerage services can face additional constraints or hesitation around integration depth and asset selection.

The stablecoin framework also signals that Canadian regulators are moving toward more structured oversight, which can influence how quickly platforms expand beyond spot crypto and into additional product categories later on.

What Canadian users should watch next

With Webull adding crypto to a retail brokerage platform and running it via Coinbase’s custody and trading infrastructure, the immediate question for users is not just which coins are available today, but how the offering evolves. Webull’s website already lists 10 assets and indicates further availability, and investors should monitor for updates as the platform potentially expands its supported cryptocurrencies.

More broadly, readers may also want to track how Canada’s stablecoin regulatory efforts progress. As stablecoin requirements become clearer, platforms that rely on compliant issuance and oversight may have more room to broaden offerings—particularly for products that intersect with fiat settlement and trading liquidity.

The crypto market has posted sharp gains across Bitcoin and several major altcoins, but Cryptex Finance data covering 36 assets and roughly 92% of the digital asset market shows that capital remains heavily concentrated in Bitcoin and Ethereum despite prices rising across the market.

Cryptex Finance co-founder Joe Sticco told crypto.news that participation in the recent rally had spread across the market, but the allocation of capital had not followed at the same pace, leaving cryptocurrencies trading more like a single group than a market in which investors are selecting individual winners.

Cryptex’s market index stood at 1,199.69, almost 20% above the base level of 1,000 set on Feb. 20. The index tracks 36 assets across five sectors using Coinbase pricing, giving Sticco a larger sample than Bitcoin or a handful of major altcoins alone.

Over the trailing seven days, however, the index had risen only 1.92%. Sticco said the figure matters because much of the rally that produced large percentage gains from recent lows took place within roughly 72 hours between Aug. 19 and Aug. 21, followed by several days of relatively flat trading.

“Measure from the low, and you get a rally. Measure the trailing week, which is what most readers think they’re being told, and you get almost nothing,” Sticco said.

Bitcoin’s acceleration during that period followed a major derivatives flush alongside renewed spot demand. Earlier market coverage showed BTC jumping from below $65,000 to around $69,500 on Aug. 19 as more than $1 billion in crypto short positions were liquidated within an hour.

Crypto market gains show little separation between assets

Price dispersion within Cryptex’s index provides another reason Sticco is reluctant to describe the rally as a full capital rotation.

On the day measured by Cryptex, the strongest constituent gained 6.71%, while the weakest declined 1.49%. Despite covering 36 cryptocurrencies from five sectors, the entire range between the best and worst performers amounted to roughly eight percentage points.

“That is not a market sorting winners from losers. That’s a market moving as one block,” Sticco said.

According to Sticco, such low dispersion indicates that a common market factor is lifting cryptocurrencies together instead of investors moving money between assets based on individual fundamentals.

Major tokens nevertheless produced very different headline returns when measured across the rally. Sticco put Bitcoin’s seven-day increase at roughly 14%, XRP’s at 28%, and Solana’s at about 19%.

Capital allocation did not match the apparent spread in price performance. Bitcoin dominance remained around 57% to 60%, depending on the market universe used, while Sticco cited an Altcoin Season Index reading below 40, far under the 75 level generally used by the index to signal an altcoin season.

Solana also remained more than 50% below its October 2025 level despite gaining about 19% during the week, according to Sticco.

“Participation broadened. Allocation didn’t,” he said.

Institutional flows remain concentrated in Bitcoin and Ethereum

Regulated investment products give Sticco another way to separate rising cryptocurrency prices from the destination of new capital.

During one recent Wednesday session, Sticco said U.S. spot Bitcoin ETFs received about $232 million, while Ether ETFs attracted roughly $192 million. XRP products brought in around $28 million, compared with approximately $15 million for HYPE products and $9 million for Solana.

By his calculation, close to nine dollars out of every ten went into Bitcoin and Ethereum. Weekly figures showed a similar concentration, with Bitcoin receiving about 71% of flows and Ethereum another 26%.

The concentration comes even as U.S. spot products have helped support Bitcoin’s recovery. A previous report on ETF demand found that U.S. spot Bitcoin ETFs had taken in approximately $1.9 billion across five consecutive inflow sessions by Aug. 24, while analysts said continued spot buying would be needed after forced short covering helped accelerate the initial breakout.

Sticco said the subsequent streak had reached eight consecutive sessions of net Bitcoin ETF inflows totaling about $2.8 billion, while Ether ETFs had also recorded eight positive sessions and more than $1 billion in inflows.

August Bitcoin ETF inflows had exceeded $3 billion by the time of his comments, making it the strongest month of 2026, according to Sticco. He said BlackRock had absorbed a large portion of the demand, including around $1.3 billion during the previous week.

“Eight straight sessions of regulated spot creations is not what a short squeeze produces,” he said.

The ETF numbers, however, require another distinction when assessing how much new institutional money has entered Bitcoin.

Sticco said net assets held by the funds had climbed from roughly $77 billion in mid-August to just above $99 billion by Tuesday, an increase of about $22 billion. Actual net inflows during the eight-session streak totaled only around $2.8 billion.

Much of the difference came from Bitcoin’s rising price increasing the value of assets already held by the funds, he said, rather than investors supplying another $22 billion in fresh capital.

Earlier in August, five consecutive inflow sessions had brought approximately $853.5 million into U.S. spot Bitcoin ETFs between Aug. 3 and Aug. 7, reversing withdrawals recorded during the preceding week.

Sticco also cautioned against viewing August in isolation. He said spot Bitcoin ETFs lost roughly $5.4 billion during the first half of 2026 and remained about $2.5 billion in negative territory for the year despite the latest inflows.

ETF demand is clearer than derivatives positioning

Separating institutional buying from leverage requires looking at different parts of the market, according to Sticco.

ETF flows and market depth measure demand, while funding rates, futures basis, and open interest give more information about trader positioning. Sticco said falling open interest alongside rising prices can indicate shorts are closing rather than new buyers entering.

He declined to characterize current open interest as either bullish or bearish because publicly available readings differed. Some datasets quote open interest in Bitcoin while others measure its dollar value, which can produce different trends when BTC itself moves sharply.

Market depth presents a similar problem. Sticco described depth as one of the most useful measures for institutional participation because it shows how much capital can enter or exit without materially moving the market.

“Price tells you what the last trade cleared at. Depth tells you what the next big one will cost.”

Available public depth figures were not current enough for Sticco to say confidently how much liquidity had recovered. He pointed instead to the damage following the October 2025 deleveraging event, when he said an estimated $10 billion to $20 billion in leveraged positions were erased and Bitcoin’s top-of-book depth on major venues fell more than 90% intraday.

Market makers subsequently reduced resting liquidity after getting caught with inventory while hedges were force-closed, according to Sticco, leaving order books at their thinnest since 2022.

For Sticco, the institutional side of crypto has therefore developed faster than the liquidity supporting the underlying market.

U.S. policy and Treasury conditions remain part of the rally

Macroeconomic conditions have also played an important role in the latest advance, according to Sticco, who pointed to the U.S. Treasury’s Aug. 19 decision to increase long-dated debt buybacks as an important catalyst.

The Treasury doubled the maximum size of certain long-end liquidity support buybacks from $2 billion to at least $4 billion per operation. The Treasury announcement was followed by falling long-term yields and an 8.2% Bitcoin advance from an intraday low around $64,100 to approximately $69,500 in less than 12 hours.

Sticco said Bitcoin’s close relationship with software stocks during the move shows how crypto has become more connected to U.S. macro conditions. As interest-rate expectations later changed and short-term yields rose, Bitcoin surrendered some of the gains even though the legislative situation in Washington had not materially changed.

Congress presents another variable for U.S. investors. Sticco pointed to the CLARITY Act, which would establish a statutory division of responsibilities between the SEC and CFTC for parts of the digital asset market and create a federal framework affecting exchanges, brokers, dealers, and custody.

The Senate Banking Committee advanced the legislation 15-9 in May, with Democratic Sens. Ruben Gallego and Angela Alsobrooks joining Republicans. Sticco, who attended the markup as part of Cryptex’s policy work, said both Democrats made clear at the time that their committee votes did not guarantee support on the Senate floor without progress on unresolved provisions.

A Sept. 15 cloture vote requires 60 votes to move the legislation forward. Previous coverage of the negotiations identified ethics rules, stablecoin rewards, and financial-crime provisions among the issues still unresolved ahead of the procedural vote.

For regulated index products, Sticco pointed in particular to provisions covering CFTC registration of digital commodity exchanges, brokers, and dealers. Capital, asset-segregation, surveillance, and customer-protection requirements could increase the number of regulated venues capable of supporting assets used in exchange-traded products, he said.

Sticco also cited custody provisions and changes affecting financial holding companies as potentially important for institutions, while arguing that statutory classification of digital assets would give index providers more certainty than relying on agency interpretations that future regulators could change.

Policy expectations, however, have weakened even as cryptocurrency prices have risen. Sticco said Polymarket odds for the CLARITY Act becoming law in 2026 had fallen from roughly 82% in February to around 25% in late August, while Galaxy Research placed the probability closer to 10%.

The Sept. 15 vote will also fall on the first day of the Federal Reserve’s Sept. 15-16 meeting, leaving two major U.S. policy events scheduled within the same period.

Unresolved Senate negotiations include ethics and conflict-of-interest rules involving government officials, possible secondary enforcement authority for state attorneys general, illicit-finance provisions and banking-industry objections to crypto exchanges paying yield on stablecoin balances, according to Sticco.

MEXC has launched a Visa-linked Global Card offering eligible users up to 10% cashback in USDT as monthly crypto card spending reached $759 million in July, roughly 2.5 times its level a year earlier.

According to MEXC’s Aug. 31 announcement shared with crypto.news, the Global Card is a virtual Visa card that lets eligible users spend USDT through the card network while supporting Apple Pay and Google Pay for mobile payments.

The exchange is waiving purchase fees from launch through Sept. 30 and charges no issuance, annual, or top-up fees. Once the promotion ends, purchase fees will start at 1%, according to MEXC’s published fee information.

Transactions use Visa’s exchange rates, while MEXC said it does not apply an additional exchange-rate markup. Foreign exchange fees may still be charged for certain currencies under Visa’s rules.

MEXC Global Card combines USDT spending with cashback

Alongside its fee structure, MEXC has tied the Global Card to a tiered cashback program paying rewards in USDT.

Users receive between 4% and 10% cashback based on their VVIP status and M-Score, which MEXC calculates using activities such as trading, Earn subscriptions, and platform tasks. The Standard level pays 4% with a monthly cap of 100 USDT, while Premier users receive 6% with a 300 USDT cap.

At the highest Elite level, users can receive 10% cashback up to 800 USDT per month. MEXC’s rewards documentation states that a user’s rate is determined by their VVIP level on the final day of each calendar month, with cashback distributed to the user’s spot account on the 15th of the following month.

Refunded and reversed purchases can affect the final reward amount, while some merchant categories are excluded from earning cashback.

MEXC is also offering a separate flexible savings product through MEXC Earn for cardholders. Users who subscribe eligible USDT to the product can earn an annualized return of up to 7%, with MEXC saying the funds can be redeemed without a lock-up period.

The 7% rate applies to USDT subscribed to the Earn product rather than automatically applying to money available for card purchases. MEXC calculates the Earn returns separately from spending cashback.

MEXC CEO Vugar Usi described the card as part of the exchange’s effort to cover more financial activities beyond buying and selling crypto.

“We want users to see digital assets not simply as an investment tool, but as part of a complete financial journey, from saving and yield-generating products to principal-protected solutions and, ultimately, everyday spending,” Usi said.

Usi added that the card allows users to keep assets in digital form until they need to make a payment, connecting asset management with real-world spending.

Crypto card spending reached $759M in July

MEXC’s launch arrives as payment activity through crypto-linked cards has climbed during 2026.

According to an August analysis by a16z crypto using Paymentscan data, monthly crypto payment card volume reached $759 million in July, compared with $306 million one year earlier. Paymentscan had recorded less than $1 million when its tracking started in October 2023.

Transaction counts have risen alongside payment volume. Nearly 9 million purchases were recorded in July, up from about 5.2 million a year earlier, leaving the average purchase at roughly $86.

Stablecoins account for most of the activity tracked by Paymentscan. USDC and USDT together represented 84% of crypto card spending, according to the data cited by a16z.

Other crypto companies have been building similar links between stablecoins and established card networks. In May, crypto.news previously reported that Fold had started issuing its Bitcoin Credit Card to selected waitlist users, with a 1.5% base Bitcoin reward and rewards of up to 4% through additional offers. The Visa-based product also supports Apple Pay and Google Pay.

In August, Western Union launched its Stablecard with Rain, allowing customers to hold and spend its USDPT stablecoin through Visa. The service launched across 37 markets, with Western Union targeting more than 60 markets by the end of 2026.

Visa has also been testing payment models that connect stablecoin balances more directly to its merchant network. A stablecoin spending pilot with WeFi, announced in May, covered selected markets in Europe, Asia, and Latin America and was designed to make self-custodied stablecoins usable for card purchases.

Daily MEXC Global Card spending is capped at 1M USDT

For cardholders making larger payments, MEXC has set the maximum purchase at 80,000 USDT per transaction and the daily spending limit at 1 million USDT.

The limits are considerably higher than those attached to MEXC’s separate APAC card. MEXC’s published comparison states that the Global Card and APAC product remain separate cards with different fee structures and transaction limits.

Applicants must complete MEXC’s advanced identity verification before requesting a Global Card. MEXC said the application process can take about one to two minutes, after which approved customers receive a virtual card that can be used without waiting for a physical card.

MEXC’s card documentation says the Global Card is funded with USDT held on the exchange. The product sits alongside the company’s original APAC card and its co-branded card with ether.fi rather than replacing either product.

Earlier in August, MEXC also expanded its RealStocks product with recurring investment features, portfolio tracking and additional tools tied to tokenized U.S. equities. The product gives eligible users exposure to tokenized assets linked to U.S.-listed stocks, including companies such as Nvidia and Tesla.

U.S. users remain excluded from MEXC card access

Despite Visa’s large U.S. payment network and growing domestic competition among crypto-linked cards, MEXC’s Global Card is not available to U.S. residents.

MEXC’s current card eligibility documentation places the United States on its application blacklist, alongside countries including China, India, Indonesia, Turkey and Russia. Eligibility is based on proof of address, and the exchange tells users to check its current restricted-country list before applying.

The restriction separates MEXC’s launch from crypto cards already available to American users. MetaMask, for example, rolled out its Mastercard-linked debit card across 49 U.S. states in February, allowing eligible customers to spend assets from self-custodial wallets through Apple Pay and Google Pay.

MEXC also operates its main exchange under geographic restrictions. Its published regional guidance states that it does not provide exchange services to U.S. residents, while the company can revise its restricted-jurisdiction list based on legal and compliance requirements.

For eligible Global Card applicants, MEXC requires advanced identity verification before approval. Once approved, the virtual card can be activated immediately, according to the exchange, while card availability and individual services remain dependent on the user’s jurisdiction.