#960 - Mastercard Supports Stablecoin Settlement, KPK Launches Fixed-Rate ETH Vault
Mastercard adds stablecoin settlement, KPK launches ETH Yield Term on Euler, and BitMine files a preferred stock offering at a 9.5% yield.
Mastercard to support Base and Arbitrum.
KPK launches ETH Yield Term vault.
BitMine files for shares at a 9.5%.
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ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Mastercard announced plans to support stablecoin settlement on its global payments network, with supported stablecoins including USDC, PYUSD, USDG, USDP, RLUSD, and SoFiUSD across networks like Arbitrum, Base, Ethereum, and Polygon. Stablecoin settlement is provided as an additive option to Mastercard's existing payments infrastructure, aimed at cross-border payments, and treasury operations. USDC is already supporting early onchain settlement flows, with further expansion across regions and stablecoins planned for merchants and acquirers.
KPK launched ETH Yield Term on Euler, a fixed-rate WETH lending vault that sets its borrow rate once per calendar month rather than continuously based on utilization. The borrow rate is anchored to Treehouse's Ethereum Staking Rate (TESR) and stays within a 2.05–2.50% APY band, addressing the volatile variable-rate ETH borrow costs that hit borrowers across DeFi during May's ETH rate squeeze. The vault is live with two cyclical markets, wstETH Term and tETH Term, The vault prices collateral at fundamental redemption value to avoid depeg-triggered liquidations.
BitMine Immersion Technologies (BMNR) filed a preliminary prospectus for 3,000,000 shares of Series A Perpetual Preferred Stock at a 9.50% yield, priced at $100 per share and targeting $300 million in gross proceeds. The dividend is fixed at 9.5% annually, paid in cash and accumulating weekly, with the proceeds set to be staked on Ethereum via BitMine's MAVAN network. BitMine has already amassed over 5.4 million ETH in its digital asset treasury, though the fixed dividend commitment sits ahead of common shareholders and has raised concern about added obligations.
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Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
BitMine Files Preferred Stock Offering At 9.5% Yield
BitMine Immersion filed a preliminary prospectus for 3M shares of Series A Perpetual Preferred Stock at a 9.5% yield, targeting $300M to stake via MAVAN.
BitMine Immersion Technologies (BMNR) filed a preliminary prospectus for 3,000,000 shares of Series A Perpetual Preferred Stock at a 9.50% yield. The offering is priced at $100 per share and will pay a fixed 9.5% annual dividend in cash, accumulating weekly. BitMine is looking to raise $300 million in gross proceeds.
The proceeds would be staked on Ethereum via its MAVAN network. BitMine has already amassed over 5.4 million ETH in its digital asset treasury. The move has raised concern about added obligations from the fixed dividend commitment, which sits ahead of common shareholders.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
KPK Launches Fixed-Rate ETH Lending Vault
ETH Yield Term sets its borrow rate once per month, anchored to the Treehouse Ethereum Staking Rate.
KPK launched ETH Yield Term on Euler, a fixed-rate WETH lending vault that sets its borrow rate once per calendar month rather than continuously based on utilization. The vault addresses volatile variable-rate ETH borrow costs that are tied to utilization, in which rates can spike sharply when a market fills up. In May, an ETH rate squeeze hit borrowers across DeFi with little warning.
ETH Yield Term aims to remove rate uncertainty. The borrow rate is fixed for the entire month, anchored to Treehouse's Ethereum Staking Rate (TESR), a consensus benchmark for ETH staking yields, and stays within a 2.05–2.50% APY band. The vault is live with two cyclical markets: wstETH Term and tETH Term.
Collateral is priced at fundamental redemption value rather than spot price, so temporary depegs do not trigger liquidations. A 3-day timelock governs all risk parameter changes. LST and LRT loopers can borrow WETH against staking collateral at a monthly fixed cost. The vaults are now open for deposits.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created