Interlace has opened an office in Brazil and assembled a local team as the stablecoin infrastructure company expands its payment and digital asset operations across Latin America.

Interlace said the Brazil operation will connect local financial institutions, cross-border trade platforms, digital asset companies and Web3 projects with its global payment and digital asset infrastructure.

Interlace Brazil office brings a local team into the market

The expansion gives Interlace a physical presence in one of Latin America’s largest digital asset markets, with the company appointing Guilherme Santos as its country manager for Brazil.

Confirming the move on X, Interlace described its strategy as “Going global. Building local,” adding that the new office was part of its effort to make stablecoin-powered payments and digital financial infrastructure more accessible internationally.

“Our new office marks another step toward making stablecoin-powered payments and digital financial infrastructure more accessible worldwide,” the company said.

Interlace has also started building relationships with Brazil’s payment and digital asset sectors through local industry events. The company recently attended Blockchain.RIO in Rio de Janeiro, where its team met participants from the country’s financial, payments and crypto industries.

During the event, Santos joined a panel covering digital assets, stablecoin payments and financial infrastructure, placing the company’s local rollout alongside discussions about how blockchain-based settlement can connect with existing financial services.

Brazil already has significant stablecoin activity alongside an established instant-payment system. In June, crypto.news reported on Oobit, which integrated Tether’s USDT with Brazil’s Pix network, allowing users to deposit Brazilian reais, hold USDT, and make payments through Pix keys or QR codes.

According to that report, Pix had nearly 170 million users, while the system processed BRL 11 trillion in transactions during 2024. Oobit said blockchain settlement could run behind the payment process while users continued interacting with the same Pix-based payment methods already available through Brazilian banking apps.

Interlace has not disclosed specific banking or payment partners tied to its new Brazilian office. Its announcement instead identified local financial institutions, cross-border commerce platforms, digital asset businesses and Web3 projects as the groups it plans to support through its infrastructure.

Brazil stablecoin payments face tighter financial rules

Interlace is entering Brazil as regulators increase supervision of digital asset transactions, particularly those involving stablecoins and cross-border payments.

A July report on IMF scrutiny found that the International Monetary Fund had called for stronger oversight of Brazil’s stablecoin market after cross-border crypto flows expanded faster than traditional capital movements. The IMF said Brazil’s crypto sector had become more closely connected with the financial system, while additional rules were needed around customer asset protection, stablecoin issuance and anti-money laundering controls.

Banco Central do Brasil Governor Gabriel Galípolo had also said stablecoins accounted for about 90% of the country’s reported crypto flows, according to the same report. Regulators have cited taxation, money laundering and reserve-related risks when discussing the large share of dollar-backed tokens in local digital asset transactions.

Brazil’s central bank has already placed restrictions on how virtual assets can be used within supervised international payment channels. Resolution BCB No. 561 requires payments and receipts between regulated electronic foreign exchange providers and foreign counterparties to use foreign exchange transactions or movements through non-resident Brazilian real accounts. Virtual assets cannot be used to settle transactions inside those regulated eFX channels.

The restriction does not prohibit crypto trading or stablecoin transfers in Brazil. According to the IMF coverage, it separates regulated cross-border settlement infrastructure from private digital asset activity conducted through wallets, exchanges and other crypto services.

For infrastructure providers entering Brazil, local financial connections therefore sit alongside a developing compliance regime governing how digital assets interact with existing payment and foreign exchange systems.

Commercial interest in stablecoin payment rails has continued across Latin America at the same time. In June, Paradigm led a $9 million Series A investment in El Dorado, a regional payments company operating across 12 Latin American countries, including Brazil, Argentina and Colombia. Coinbase Ventures and Verda Ventures also participated in the round.

El Dorado said it had processed more than 5 million transactions and served more than 100,000 active users. The company also moved into business payments, combining fiat and stablecoin payment rails for corporate customers involved in cross-border commerce.

Paradigm partner Ricardo de Arruda said Latin America handles more than $100 billion in cross-border payments annually, while El Dorado CEO Guillermo Goncalvez estimated total flows could approach $1 trillion when additional business transactions are included. Goncalvez said roughly 60% of the activity involved business-to-business payments linked to imports and exports between Latin America and the United States.

Interlace plans its next Latin America stop in Argentina

Interlace is now taking its regional expansion to Argentina, where the company is scheduled to participate in the Argentina Crecimiento LATAM Digital Assets Conference from Aug. 20 to Aug. 21.

At the conference, the company said it will give a presentation covering practices from its global card-issuance projects and its plans for Latin America. The appearance follows its participation at Blockchain.RIO and comes one day after the Brazil office announcement.

Argentina has also seen financial groups experiment with stablecoins for business payments and treasury use. A July report on peso stablecoins detailed separate projects from BIND Group and Petersen Group that were being developed through digital asset subsidiaries while Argentine banks remained restricted from offering crypto services directly.

BIND Group, which manages more than $2 billion in assets and owns BIND Banco Industrial, has been developing a peso-backed stablecoin through virtual asset service provider BEN. BEN had also partnered with Circle to provide institutional clients with access to USDC for treasury management and payment applications under Argentina’s regulatory framework.

Petersen Group, meanwhile, has been working on the DIPE stablecoin with technical support from crypto infrastructure provider Lirium. According to the July report, both projects have focused on corporate functions including programmable payments, collateral management and treasury settlement instead of consumer payment products.

Interlace said its Aug. 20–21 appearance in Argentina will cover its global card issuance experience and the company’s plans for building its Latin American operations.

Metaplanet, the Tokyo-listed firm that has made Bitcoin its primary treasury asset, says it is preparing to expand its Bitcoin strategy into the United States through a controlling stake in Nasdaq-listed Super League Enterprise. The proposed move would create a U.S.-focused Bitcoin treasury platform while allowing Metaplanet to continue raising capital in Japan.

According to Metaplanet CEO Simon Gerovich, the company plans to contribute 2,100 Bitcoin (BTC) and $2.5 million in cash to Super League. The receiving entity is expected to be renamed “Superplanet,” positioning it as the group’s U.S. Bitcoin treasury vehicle.

Key takeaways

• Metaplanet plans to inject 2,100 BTC (about just under 5% of its 43,000 BTC holdings) plus $2.5 million cash into Super League.
• The deal would create a separate U.S.-oriented treasury platform while Metaplanet continues capital formation efforts in Japan.
• Because the BTC comes from Metaplanet’s existing holdings, the transaction is described as not involving a new BTC purchase.
• Closing is expected in Q4 2026, subject to shareholder approval and other customary conditions.
• Super League’s stock reaction has been dramatic, with trading volume reported to jump nearly 95x after the announcement.

Metaplanet’s U.S. expansion via Superplanet

Gerovich said the arrangement is designed to provide two channels for funding the group’s broader Bitcoin treasury approach. Under the plan, Superplanet would target U.S. markets, while Metaplanet would keep pursuing fundraising in Japan.

The company also suggested that the U.S. structure could widen the strategic options available to the group. Metaplanet said Superplanet may pursue acquisitions in the U.S. Bitcoin treasury sector that could be harder for the Japanese parent company to execute.

Metaplanet’s stated transfer of 2,100 BTC amounts to just under 5% of its reported 43,000 BTC holdings. At the time of the announcement, the value was described as roughly $135 million based on prevailing Bitcoin pricing. Importantly, the BTC would be sourced from Metaplanet’s treasury rather than obtained through a fresh market purchase.

Timing, governance, and how capital could flow

Metaplanet said the transaction is expected to close in the fourth quarter of 2026, assuming customary closing conditions are met. Those conditions include approval from Super League shareholders.

While details of the exact financing mechanics were not fully specified in the company’s remarks, the core premise is straightforward: capital raised by either entity could be directed toward expanding the group’s Bitcoin treasury strategy. This matters for investors because it frames the acquisition not only as a corporate restructuring, but as a capital-allocation expansion—essentially building a second fundraising venue alongside Metaplanet’s existing Japanese operations.

For traders and shareholders, the key unknowns to watch will be how the U.S. vehicle ultimately raises funds, how it is governed relative to the Japanese parent, and what acquisition criteria it uses if Metaplanet’s stated goal of U.S. consolidation comes to fruition.

Super League’s market reaction highlights investor appetite

Super League Enterprise currently operates an immersive gaming, content, and advertising business. Following the announcement, its shares surged more than 50%, and trading activity spiked sharply.

Yahoo Finance data cited in the announcement indicates trading volume reached about 37.3 million shares versus roughly 393,000 shares previously—an increase of nearly 95-fold. Such a move often signals that investors are recalibrating expectations for the company’s future direction and capital strategy, particularly when a publicly traded business is linked to large-scale Bitcoin treasury plans.

Metaplanet’s move also underscores a broader theme in the corporate Bitcoin space: listed companies are increasingly competing not just on treasury size, but on access to capital. By shifting part of that effort into a U.S.-listed wrapper, the strategy may reduce geographic constraints and broaden investor participation.

Corporate Bitcoin treasuries face growing capital-management pressure

Metaplanet has positioned itself among the largest corporate Bitcoin holders. The company is described as the third-largest corporate Bitcoin holder, trailing Twenty One Capital by roughly 500 BTC. Twenty One Capital is a publicly traded Bitcoin treasury company backed by Tether, Bitfinex, and SoftBank, formed to accumulate Bitcoin and increase holdings on a per-share basis.

Metaplanet’s most recent accumulation was last reported as occurring in early July, according to BitcoinTreasuries.NET.

Strategy is another prominent reference point in this market. Michael Saylor’s Strategy is still widely reported as the largest corporate Bitcoin holder, with more than 840,000 BTC. However, the article notes that Strategy has sold Bitcoin in recent months to fund dividends, share repurchases, and its U.S. dollar reserve. That detail highlights a central tension for corporate Bitcoin treasuries: maintaining Bitcoin exposure while also meeting the cash needs that come with being a public company.

Against that backdrop, Metaplanet’s planned U.S. expansion can be viewed as an attempt to strengthen the group’s capital toolkit. If Superplanet can raise funds efficiently in the United States, it may provide additional flexibility—whether for Bitcoin accumulation, strategic acquisitions, or supporting corporate liquidity demands—without relying solely on the Japanese market.

Investors should watch for two developments as this moves toward Q4 2026: the shareholder approval process at Super League, and how Superplanet’s planned fundraising and acquisition strategy will be structured in practice—especially given the ongoing trade-offs corporate Bitcoin holders face between Bitcoin accumulation and broader capital-management obligations.

SkyBridge Capital founder Anthony Scaramucci said on Aug. 18 that Bitcoin’s latest bear market may contain one encouraging signal: its decline has remained smaller than losses recorded during previous cycles.

Speaking with CNBC’s Andrew Ross Sorkin at the Wyoming Blockchain Symposium, Scaramucci called the downturn a “clear Bitcoin bear market.” However, he argued in the interview that the depth of the selloff could indicate a more resilient buyer base.

Scaramucci referred to a roughly 55% peak-to-trough decline. Bitcoin has since recovered to around $64,000, narrowing its current drawdown from the October 2025 record to approximately 49%.

Bitcoin’s current drawdown is smaller than earlier crashes

Bitcoin reached a record near $126,000 in October 2025. It later fell below $60,000 during the June 2026 liquidation wave, representing a decline of approximately 53% to 55%, depending on the exchange and intraday price used.

Scaramucci compared that move with losses of roughly 75% to 80% during previous Bitcoin bear markets. He argued that the smaller decline could mean “there’s a lot of net buyers” preparing for the next market phase.

That interpretation remains his opinion rather than a confirmed market signal. A smaller drawdown does not establish that Bitcoin has reached its final bottom or that buyers will prevent another decline.

Bitcoin’s current price near $64,000 leaves it approximately 49% below its record, according to current drawdown data. The difference between that reading and Scaramucci’s 55% figure reflects Bitcoin’s recovery from its sub-$60,000 lows.

As crypto.news reported, Bitcoin recently reclaimed the $64,000 level after buyers defended support around $62,750. Compressed volatility and leverage still leave the market exposed to abrupt movements.

Scaramucci says AI absorbed cryptocurrency capital

Scaramucci attributed Bitcoin’s subdued performance partly to capital moving toward artificial intelligence investments. AI-linked equities and investment products attracted strong demand while cryptocurrency markets faced liquidations and weaker institutional flows.

He also pointed to Bitcoin miners redirecting infrastructure toward AI computing. Several publicly traded miners have pursued data-center and high-performance computing contracts as Bitcoin mining economics weakened.

BlackRock reached a similar conclusion about competition for investment flows. The asset manager reported that AI-focused funds received more than $46 billion following Bitcoin’s October peak, while spot Bitcoin exchange-traded products recorded approximately $5 billion in net outflows.

As previously reported, BlackRock said the 50% pullback reflected deleveraging and weaker flows rather than a change in its longer-term investment case. BlackRock’s assessment and Scaramucci’s comments remain institutional views, not guarantees of recovery.

The four-year cycle remains central to his forecast

Scaramucci also linked the bear market to Bitcoin’s four-year issuance cycle. Bitcoin completed its latest halving in April 2024, reducing the block subsidy from 6.25 BTC to 3.125 BTC.

The next halving is expected in 2028, although the precise date depends on block production. Scaramucci estimated that the event was approximately 18 or 19 months away when he spoke.

He said another reduction in newly issued Bitcoin could tighten supply and support prices. Based on that view, he expects Bitcoin to “move back up over 100,000,” though he warned that the market could continue grinding sideways beforehand.

The forecast has no stated deadline. Halvings reduce new issuance, but prices also depend on investor demand, leverage, interest rates, exchange-traded product flows and broader economic conditions.

Historical signals do not promise a quick recovery

VanEck’s latest cycle research provides a more cautious near-term view. Eight of its 12 Bitcoin capitulation signals were active on Aug. 12, while every tracked signal had entered capitulation territory during the preceding three months.

As crypto.news reported in its coverage of the potential accumulation phase, VanEck estimated that a cycle transition could occur between September and November.

However, its historical tests found that similar capitulation clusters did not outperform Bitcoin’s normal baseline over the following three or six months. Outperformance appeared only over a one-year period, based on a small and heavily overlapping sample.

Bitcoin’s next test remains whether buyers can establish support above the $64,000 to $65,000 region. U.S. spot exchange-traded product flows, leverage and upcoming economic data may shape the shorter-term direction.

Scaramucci’s argument therefore rests on relative resilience rather than evidence that the bear market has ended. The current decline has been shallower than earlier collapses, but Bitcoin remains almost 50% below its record.

Binance published its 45th Proof of Reserves report using user balances recorded on Aug. 1, 2026. The snapshot showed customer Bitcoin holdings rising for another month, while Ethereum and Tether balances declined.

Users held approximately 657,000 BTC, up 2.55% from the July 1 snapshot. The increase amounted to 16,349 BTC, according to figures published through Binance’s reserve dashboard.

Ethereum balances moved in the opposite direction. Users held about 3.98 million ETH, down 2.57%, or 105,154 ETH. USDT balances also fell 2.57% to approximately 32.9 billion tokens, a decline of roughly 870 million USDT.

Binance user Bitcoin balances rose for a third month

The August snapshot continued a recent increase in customer Bitcoin balances. Binance users added 25,838 BTC during May and another 7,715 BTC during June.

As crypto.news previously reported, customer Bitcoin holdings had already increased in July even as ETH and USDT moved lower. The latest 16,349 BTC increase was more than twice the amount added during the previous reporting period.

The three monthly reports show users adding nearly 50,000 BTC between the May and August snapshots. However, that change does not establish that customers bought the same amount through Binance’s markets.

Reserve balances can rise through deposits from other exchanges, transfers from private wallets, purchases or movements between Binance products. The report does not separate those activities or identify the reasons behind individual balance changes.

Ethereum and USDT holdings extended their declines

Ethereum balances fell for a second consecutive snapshot after rising sharply in the June report. Users held approximately 4.14 million ETH on June 1 before the total declined to around 4.08 million ETH in July and 3.98 million ETH in August.

The latest decrease of 105,154 ETH was larger than the 58,591 ETH reduction recorded one month earlier. The figures could reflect withdrawals, sales, transfers to staking services or movements into other assets. Binance’s snapshot does not determine which explanation applies.

USDT balances followed a similar pattern. Customer holdings stood near 34.3 billion USDT in June and about 33.7 billion USDT in July. The latest report placed the total near 32.9 billion USDT.

That represents three consecutive monthly reports showing lower USDT balances. Still, the decline does not prove that users converted stablecoins into Bitcoin. Funds could have moved into other stablecoins, external wallets or different trading venues.

A comparable balance pattern has appeared elsewhere. In related coverage, Bybit and OKX reported rising Bitcoin balances alongside lower USDT holdings in their recent snapshots.

Binance reports reserves above customer liabilities

Binance reported reserve ratios of 100.25% for both BTC and ETH. A 100.25% ratio means the exchange reported holding approximately 1.0025 units in its reserve wallets for every unit attributed to users at the snapshot time.

USDT had a higher reported ratio of 103.62%. That ratio would place Binance’s corresponding USDT assets above the 32.9 billion tokens assigned to customers.

Binance says its Proof of Reserves system covers user assets on a 1:1 basis, with additional reserves. It uses Merkle trees and zero-knowledge proofs so customers can verify that their account balances were included without viewing other users’ information.

Customers can download the relevant verification data and compare their records with the published Merkle root. Binance also publishes wallet addresses associated with the assets included in its system.

No distinct BTC, ETH or USDT market movement could be reliably attributed to the reserve publication. The report measures customer and exchange balances rather than trading performance or directional demand.

Proof of reserves remains a limited snapshot

Proof of reserves helps determine whether disclosed on-chain assets cover the user liabilities included in a report. It does not provide a continuous record because asset and customer balances can change immediately after the snapshot.

It also does not independently assess every corporate liability, internal control, loan or off-chain obligation. The process therefore differs from a full financial audit covering an organization’s wider balance sheet and operations.

A crypto.news guide explaining how reserve verification works and where it falls short notes that useful disclosures should include assets, customer liabilities, frequent updates and user-verifiable evidence.

Binance has not announced a fixed date for its 46th report. Its recent monthly schedule suggests the next snapshot could use balances recorded around Sept. 1, although the exchange has not confirmed that timing.

The next publication will show whether customer BTC balances continued rising and whether the declines in ETH and USDT holdings persisted. Any interpretation should remain limited to reported account balances rather than assumed buying or withdrawal behavior.