Euro-denominated stablecoins could emerge as a meaningful demand channel for euro-area sovereign bonds, according to the European Central Bank (ECB). In its latest report, the ECB compared the potential effect to the way USD-backed stablecoins have supported demand for U.S. Treasury bills, noting that strong growth in euro stablecoins could raise their importance for euro-area sovereign bond markets. Market supply of euro-based stablecoins stands at $701 million at the time of writing, nearly triple from about $250 million in early 2023. Over the same period, USD-based stablecoins led by Tether's USDT and Circle's USDC expanded 2.3x, rising from $135 billion to $319 billion. On that basis, euro-based stablecoins have grown slightly faster than their USD peers over the same timeframe. In a February report, the U.S. Treasury said demand from Tether and Circle for Treasury securities has increased by about 35% per year since 2022. The Treasury also noted that major stablecoin issuers hold roughly 53% of their reserve assets in Treasury bills, equating to about a $70 billion increase in debt demand since 2022. Separately, Standard Chartered projected the stablecoin market could reach $2 trillion by 2028, potentially generating around $1 trillion in net new demand for U.S. Treasury bills. The ECB said euro stablecoins could produce a comparable effect in regional bond markets under the current regulatory framework. It cautioned that the impact would hinge on the composition of issuers' reserves, whether stablecoins are issued by banks or electronic money institutions (EMIs), and how those banks and EMIs manage liquidity. EMI refers to an Electronic Money Institution, a regulated fintech that issues a stablecoin primarily for retail users. Bank-issued stablecoins typically take the form of deposit tokens aimed at wholesale and institutional use. The ECB added that stablecoins could still pose significant risks to the traditional financial system without appropriate mitigation measures. Even so, non-USD stablecoins have been gaining traction: Circle's euro stablecoin EURC recorded the highest peer-to-peer (P2P) transfers in March, with volume jumping to $2.3 billion, up 33% month over month, according to Artemis. Key takeaways: The ECB sees euro-based stablecoins as a potential driver of euro-area sovereign bond demand, depending on how issuers allocate reserve assets. EURC's P2P transfer volume reached a record monthly level of $2.3 billion.

Ondo Finance has submitted a no-action request to the U.S. Securities and Exchange Commission, seeking assurance that SEC staff would not recommend enforcement if the firm rolls out a limited onchain layer for Ondo Global Markets (OGM) products. The proposal is designed to add an Ethereum Mainnet-based record of certain securities entitlements while keeping custody, official books and records, and existing legal protections unchanged. Ondo said the initiative is intended as an operational upgrade, not a change to market structure or investor safeguards. Under the model, OGM would continue to be offered as tokenized notes providing exposure to U.S.-listed stocks and ETFs, with the underlying assets remaining within current custody and recordkeeping systems. The new component would create a parallel set of tokenized entitlement records on Ethereum, managed by custodian BitGo, to support internal processes. Ondo emphasized that these onchain records would not replace official offchain books. Ondo outlined several expected benefits, including more transparent collateral monitoring, faster creation and redemption workflows, and simpler reconciliation across the product stack. The company also noted that OGM already operates in Ethereum-compatible environments, arguing that using Ethereum Mainnet supports consistency and reduces implementation friction. Ondo said the request does not seek new rules, but clarity that the structure fits within existing securities laws. A no-action position, the firm added, would allow a controlled rollout under regulatory oversight without waiting for broader rulemaking.

Goldman Sachs has filed for a "Bitcoin Premium Income ETF", one of its first direct steps into crypto-linked products. The proposed fund would aim to generate yield by selling options on ETPs tied to $BTC, echoing BlackRock's recent move toward income-oriented crypto offerings.

Estimates indicate Michael Saylor's Strategy purchased 10,670 BTC through STRC today. The amount is roughly 23.7 times the daily supply of newly mined bitcoin.

Alert: A counterfeit Ledger Live app listed on Apple's App Store siphoned $9.5 million from more than 50 victims between April 7–13. Users are urged to stay vigilant and verify they are downloading the official app.

BULLISH: Strategy's $STRC has raised enough capital in just two days to purchase 17,500 $BTC, according to BTC Treasuries.

A whale wallet linked to Matrixport has closed an additional 89,001 ETH long position valued at $212.8 million, locking in $24.86 million in profit. The address still maintains a 25,000 ETH long worth about $58.5 million, with roughly $8.2 million in unrealized gains.

RT Daniel — CoW Swap alerted users that it is investigating a possible domain hijacking involving its web presence. The incident underscores a persistent risk for crypto protocols: even with robust design and repeated smart-contract audits, the project's website can remain an exposed attack surface.

Circle (@circle) has minted another 750 million USDC in the last three hours.