Ethereum’s push to speed up block production is gaining sharper backing from within the institutional community, as Ethereum Institutional (a non-profit) publicly endorsed Ethlabs’ effort to reduce Ethereum block times. The group argued that faster blocks are increasingly necessary as more institutional activity moves onchain.

The momentum also comes amid broader industry experimentation: other networks have already moved to shorten their slot or block targets, framing the changes around latency, confirmations, and competitiveness.

Key takeaways

• Ethereum Institutional backed Ethlabs’ motion to reduce Ethereum block times, saying “more institutional activity moves onchain” and requires Ethereum to be faster.
• Ethlabs points to support from 20 DeFi founders for EIP-8198 (“Quick Slots”), targeting an initial reduction in block time from 12 seconds to 10 seconds.
• Network-level speed initiatives are underway elsewhere, including Zcash’s approval for a faster target block time and Solana’s ongoing slot-time reductions.
• EIP-8198 is connected to Ethereum’s Hegotá upgrade path, with Ethlabs working to merge the proposal’s specifications into the main codebase and identify downstream dependencies.

Ethereum Institutional endorses faster blocks

On Friday, Ethereum Institutional posted on X urging the community to “make Ethereum faster.” The non-profit linked the case for quicker blocks to rising onchain usage by institutional participants, framing block-time reductions as a practical step rather than a purely technical optimization.

The statement aligns with Ethlabs’ broader push around EIP-8198, a proposal designed to shorten Ethereum’s initial block time. According to Ethlabs, the intent is to improve responsiveness and network performance in a competitive environment where other chains are actively adjusting their block or slot schedules.

Ethlabs’ “Quick Slots” gains DeFi backing

Earlier this week, Ethlabs published an article citing support from 20 decentralized finance (DeFi) founders for EIP-8198, also known as “Quick Slots.” The proposal’s stated goal is an initial reduction in Ethereum’s block time target to 10 seconds, down from 12 seconds.

While the initiative is ultimately a protocol-layer change, Ethlabs’ emphasis on DeFi founders is telling: DeFi relies heavily on predictable execution timing for activities such as swaps, lending, and liquidations. For users and developers, even modest changes in block intervals can influence how quickly transactions clear and how often protocols face edge-case timing issues.

Ethlabs also described its development plan: it said it is merging the proposal’s specifications with the main codebase and investigating potential downstream dependencies. That matters because implementation details—what components depend on current timing assumptions—can determine how disruptive or straightforward a protocol upgrade becomes.

Hegotá upgrade path and implementation uncertainty

EIP-8198 was authored in March and later proposed for inclusion in the Hegotá upgrade at the Ethereum core developers meeting on Aug. 6. Ethlabs’ work suggests the proposal is being treated as more than an idea: the organization is actively preparing it for integration into Ethereum’s broader upgrade roadmap.

The article further indicates that Ethereum developers could begin implementing Hegotá in late 2026, following “Glamsterdam,” described as one of the most consequential upgrades of the year, built to improve scalability and harden the mainnet.

Even with this timeline framing, readers should treat the schedule as contingent. Ethereum upgrade sequences depend on engineering readiness, testing outcomes, and consensus priorities among core developers. The key point for observers is that EIP-8198 is already moving through the “proposal-to-integration” pipeline, and Ethlabs is taking steps to handle compatibility considerations early.

Speed competition: Zcash and Solana accelerate their blocks

Ethereum’s faster-block push is unfolding alongside similar efforts in other ecosystems.

On Monday, a majority of Zcash token holders backed a change to cut the network’s target block time to 25 seconds from 75 seconds, as previously reported in coverage of Zcash’s community decision-making around faster blocks and its broader protocol schedule. The relevance for investors and users is straightforward: shorter target intervals can reduce waiting time and improve the real-world responsiveness of onchain settlement.

Solana has also been actively adjusting timing parameters. In August, Solana reduced its slot time from 400 milliseconds to 350 milliseconds, according to earlier reporting. And in June, the Solana Foundation shared plans to further reduce slot times from 400ms to 200ms, arguing that the change would improve latency and speed confirmations across the network.

These changes show a common industry pattern: chain designers are treating time-to-finality and execution responsiveness as competitive features, not just internal performance metrics. For Ethereum, where institutions and DeFi users care deeply about predictable execution windows, block-time reductions can improve user experience and potentially reduce friction in time-sensitive flows.

Why the block-time debate matters now

Block-time reductions are often discussed as a tradeoff between speed and stability, because faster cadence can increase pressure on infrastructure and sequencing assumptions. In this case, Ethlabs’ framing—coupled with Ethereum Institutional’s call for faster execution as institutional onchain activity grows—suggests the community is prioritizing timeliness as a practical necessity.

At the same time, the initiatives across Zcash and Solana underscore a strategic tension. If other networks continue to shorten their block or slot targets, they may capture users who prioritize low-latency interactions, particularly in trading and DeFi contexts. Ethereum’s move toward EIP-8198 and its pathway into Hegotá can be read as a response to that competitive dynamic.

What remains uncertain is how quickly and smoothly these protocol-level changes can be introduced, and what the final performance and operational impacts will be under mainnet conditions. The next signals to watch are concrete implementation updates from core developers after the relevant upgrade stages, along with ongoing analysis of dependencies and risks tied to shorter block targets.

Binance is extending its derivatives lineup into foreign exchange with the launch of 24/7 perpetual futures, starting with a U.S. dollar–Brazilian real contract. The new product, the USDBRLUSDT perpetual, begins trading on Monday, according to a Binance announcement published Friday.

Unlike traditional FX venues that pause over weekends, Binance says the contract will trade continuously using a dual-mode pricing approach. During standard FX hours, the contract’s pricing will reference a weighted index compiled from third-party data providers, while on weekends and public holidays Binance will switch to an orderbook-based method designed to keep prices aligned with on-exchange supply and demand.

Key takeaways

• Binance will launch 24/7 FX perpetual futures with a US dollar–Brazilian real contract (USDBRLUSDT), starting Monday, with settlement in USDT.
• The contract uses a dual pricing system: an indexed feed during regular FX hours, and an orderbook-based mechanism over weekends and public holidays.
• Binance advertises the weekend pricing method as relying on an exponentially weighted moving average (EWMA) of orderbook prices rather than external price feeds.
• The product offers up to 100x leverage, with continuous trading intended to expand price discovery beyond traditional FX market hours.
• The move follows fast-paced competition in “tradfi-like” perpetuals, including Bybit’s earlier 24/7 FX perpetual rollout and Kraken’s 2025 FX perpetual launch.

24/7 FX trading and Binance’s two-part pricing design

Binance’s new perpetual is built to keep exposure to currency moves accessible even when traditional FX markets are closed. The key differentiator is how the exchange intends to form a reference price when FX markets are active versus when they are not.

During regular FX trading hours, the USDBRLUSDT contract will track a weighted index from third-party data providers. When weekend and holiday sessions arrive—periods when conventional FX trading typically halts—Binance will instead rely on an orderbook-based pricing mechanism.

In its announcement, Binance specifically described the weekend approach as using an exponentially weighted moving average of orderbook prices. The intent is to reduce dependence on external data during periods when liquidity and reference benchmarks can be more fragmented, while still allowing the contract to reflect real-time trading pressure from market participants.

What the contract offers traders

Binance stated that the USDBRLUSDT perpetual futures will go live on Sept. 21 and settle in USDT. The exchange also said the contract offers up to 100x leverage.

Binance trading head Shunyet Jan said the purpose of the 24/7 format is to extend price discovery beyond traditional FX trading hours. In practice, that means traders can hedge or take directional positions on currency movements around the clock, rather than waiting for the next open of the underlying FX market.

The launch also reflects a broader shift in how crypto derivatives platforms package currency risk. By offering perpetual futures that reference FX pairs but settle in stablecoin terms, exchanges aim to give crypto-native traders a way to express views on macro moves without directly holding the underlying currencies.

A crowded push into FX derivatives

Binance’s decision to enter 24/7 FX perpetuals comes amid rapid expansion by other exchanges. The rollout arrives less than two weeks after Bybit introduced 24/7 perpetuals for major currency pairs, including EUR/USD, GBP/USD, and USD/JPY, also settled in USDT and offering up to 100x leverage. As with Binance’s approach, Bybit’s product was positioned as a way to bring continuous trading to markets that normally close.

Earlier in the cycle, Kraken launched FX perpetuals in April 2025. Kraken’s offering tracked multiple currency pairs—euro, British pound, Australian dollar, Japanese yen, and Swiss franc—and also settled in a stablecoin context with up to 50x leverage, according to the exchange’s published materials.

Kraken had already been active in spot FX trading since 2020, and it reported $5.7 billion in FX spot volume in the first part of 2025. That background matters because it suggests some exchanges are not starting from scratch; rather, they are extending existing currency-market infrastructure and user demand into perpetual derivatives.

Why FX exposure is attractive in crypto

The appeal of FX-linked derivatives in crypto is straightforward: currency markets are among the most heavily traded financial arenas globally, and they offer constant drivers—from interest rate differentials to macro news—to which traders want leveraged exposure.

According to a Bank for International Settlements (BIS) report cited in the announcement, global OTC FX turnover averaged $9.6 trillion a day in April 2025. That scale dwarfs many other market categories and underscores why currency risk continues to attract derivatives demand even from outside traditional FX institutions.

For crypto participants, perpetual futures can also simplify access. Instead of navigating FX settlement mechanics or holding non-stablecoin assets, traders can typically gain exposure via margin and leverage while settling in stablecoins. That structure is especially aligned with the 24/7 nature of crypto markets, which often overlap imperfectly with traditional global market hours.

At the same time, Binance’s weekend pricing choice highlights an ongoing challenge for continuous FX trading: reference pricing. When third-party feeds or benchmark-style indices become less representative (or simply unavailable in the same way) during closures, exchanges must decide how to price the contract—either by extrapolating from external data, or by anchoring pricing to internal liquidity signals like the orderbook.

Binance’s described use of an EWMA over orderbook prices suggests it is opting for the second path during weekends and holidays. Investors and traders should watch how that design behaves in practice, particularly during periods of high volatility when the orderbook may reprice quickly, and when liquidity depth changes as traditional FX markets reopen.

What to monitor after the launch

With the USDBRLUSDT contract set to begin trading on Sept. 21, market participants will likely focus on two things: whether weekend/holiday pricing stays stable relative to indexed references once FX markets reopen, and how spreads, liquidity, and execution quality develop as traders learn the new 24/7 product. Those dynamics will determine whether continuous FX perpetuals remain a useful hedge tool—or primarily a speculative venue—once real trading volume builds.

Banks have doubled their presence on the European Union’s MiCA register to about 80 institutions in less than three months, raising their share of listed crypto providers to nearly 23%.

According to an analysis of European Securities and Markets Authority register data, banks accounted for almost one in four listed crypto-asset service providers as of Sep. 16, up from about one in six on June 26.

The number of banks listed in the register rose by approximately 100% during the period, while the full group of crypto-asset service providers increased by about 44%. Banks therefore gained market share even as crypto exchanges, custodians and other non-bank firms continued to enter the regulated EU market.

Non-bank providers still make up most of the register. Their number increased from about 203 to 269 between the two dates, but their share fell from roughly 84% to 77% because banks entered at a faster rate.

ESMA’s interim MiCA register, last updated on Sep. 16, includes authorized or notified service providers whose information was submitted by national regulators. ESMA publishes a new version each week, so recently approved or notified providers may not appear immediately.

German banks account for much of the MiCA growth

Germany supplied many of the new banking entries, with the register adding commercial lenders as well as institutions from the country’s Volksbank, Raiffeisenbank and VR Bank networks.

Deutsche Bank is among the latest large lenders preparing regulated digital-asset services. The bank announced plans on Wednesday to offer crypto custody to institutional and corporate clients in Europe, while a spokesperson told Cointelegraph that it expects MiCA approval for the service in October.

The participation of regional cooperative banks shows that Germany’s expansion is not confined to global financial groups. Local institutions that already serve retail and business customers are also adding regulated crypto services through their existing banking structures.

In August, crypto.news reported six additions from Germany’s cooperative banking network: Raiffeisenbank Aidlingen, Ihre Volksbank, VR Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried Überwald and Volksbank Backnang.

At the time, Germany had 79 authorized crypto-asset service providers, compared with 35 in France and 29 in the Netherlands. The six additions raised the EU-wide count to 331, before another 18 providers brought the Sep. 16 register total to 349.

Germany’s earlier entries included Raiffeisenbank Falkenstein Wörth, Spar und Kreditbank Rheinstetten, VR Bank Augsburg Ostallgäu and JT Technologies. BNY’s Belgian banking subsidiary had also entered the register with permission to provide crypto custody and transfer services.

Service permissions vary among the listed institutions. A place on the register does not mean every provider can offer the same products because MiCA separately covers custody, crypto transfers, trading platforms, order execution, portfolio management and exchanges between crypto assets and funds.

MiCA gives banks a separate entry route

Banks do not follow the same authorization process as companies created specifically to offer crypto services.

Under Article 60 of MiCA, an EU credit institution may provide crypto-asset services after sending the required information to its home regulator at least 40 working days before starting the activity. A crypto-native company must instead apply for authorization as a crypto-asset service provider under Article 62.

The notification must describe the services the bank intends to provide and include information on governance, internal controls, risk management, security arrangements and the protection of client assets. The regulator reviews whether the submission is complete before the services begin.

Existing banking authorization does not remove the operational requirements attached to crypto custody, trading or transfers. It does, however, allow a credit institution to extend its regulated business without completing the full CASP application used by non-bank firms.

Banks also enter the sector with compliance teams, customer-verification procedures, capital resources and reporting systems already in place. Crypto companies must build or acquire many of the same controls to obtain and retain authorization.

A July report on MiCA compliance costs found that continuing duties covering governance, capital, market conduct, complaints, cybersecurity and anti-money laundering could place more pressure on small providers. The report said such costs could lead some firms to pursue bank partnerships, acquisitions or sales.

Commenting on comparable rules planned in Britain, Morgan Lewis partner Steven Lightstone said crypto firms would be “treated like any normal traditional financial institution.” Banks already operate many of the governance and financial-crime systems required under such regimes.

MiCA has reduced the gap between banks and crypto firms

MiCA’s passporting system allows an authorized provider to serve customers across the EU after securing approval in one member state, although national regulators remain responsible for granting authorizations and receiving bank notifications.

Full enforcement followed the end of the EU transition period on July 1. ESMA instructed providers without authorization to stop covered services, follow their wind-down plans and help customers transfer assets to an authorized business or a self-hosted wallet.

More than 3,000 crypto businesses had operated through earlier national registration systems, while only 194 had obtained MiCA approval by May. The register reached 309 providers by July 23, 331 in August and 349 by Sep. 16.

Banks accounted for around 40 of the 243 entries recorded in late June. By mid-September, their number had reached about 80, meaning they supplied roughly 40 of the 106 net additions made during the period.

Non-bank firms added approximately 66 entries during the same window, leaving them well ahead in total number but behind banks in growth rate. Their falling percentage does not mean providers left the register in net terms; it resulted from banks increasing their numbers more quickly.

US banks follow a different regulatory structure

American banks can also provide some digital-asset services, although the United States does not have an equivalent to MiCA’s single authorization and passporting framework.

In May 2025, the Office of the Comptroller of the Currency clarified custody authority for national banks and federal savings associations. Interpretive Letter 1184 confirmed that regulated institutions may execute purchases and sales of crypto held in custody when directed by customers.

The OCC also allows banks to outsource permitted crypto activities, including custody and execution, to third parties if they maintain suitable third-party risk controls. Institutions must still conduct the services safely and comply with all applicable laws.

Unlike MiCA, the U.S. approach divides oversight among federal and state agencies according to the institution, asset, and service involved. MiCA places covered EU crypto services under a common rulebook, while allowing an already regulated credit institution to enter through the 40-working-day notification procedure.