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Marshall Islands Finance Ministry executed universal basic income (UBI) payments using blockchain-based sovereign bonds. This marks the first government deployment of this payment method globally. The Pacific island nation distributed funds through USDM1 digital bonds operating on Stellar’s network infrastructure.

Standard Chartered CEO Bill Winters has predicted that nearly all transactions will eventually take place on blockchain networks. Speaking at Hong Kong FinTech Week, Winters said that the transformation will amount to a “complete rewiring of the financial system,” with experimentation and innovation at its core.

Odin.fun, a memecoin launchpad on the Bitcoin network, has been siphoned 58.2 BTC, valued at about $7 million. The Odin.fun compromise happened on Wednesday, with on-chain data analysis showing involvement from China-based hacking groups.

The rising calls for a 2025 altseason have increased the speculation for Solana (SOL)-based memecoins. In the past 24 hours, the Solana-based memecoins added 5.1% in market capitalization to hover about $15.57 billion on Tuesday, July 22.

Pump.fun, the Solana-based platform that lets anyone create and trade a memecoin in minutes, is attracting significant attention in the cryptocurrency industry.

HSBC Holdings has launched Hong Kong’s first blockchain-based settlement service. It has launched a tokenized deposit program that converts traditional bank deposits into digital tokens on a blockchain platform. The initiative marks a step forward for fintech development in the city.