Coinbase, Moov to provide stablecoin infrastructure for US community banks
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NVIDIA launches new AI infrastructure partnership model, sharing revenue with AI cloud providers to boost computing power.
According to ChainCatcher, NVIDIA announced a new AI infrastructure partnership model on July 1st (local time). This model, based on revenue sharing and credit support, will collaborate with AI cloud service providers to build large-scale, multi-tenant AI factories. This will help startups, model developers, enterprises, and research institutions access AI computing power more quickly, while generating continuous revenue for NVIDIA based on computing power usage. Under the plan, AI cloud providers will deploy AI factories based on NVIDIA's DSX AI Factory architecture, providing cloud computing services. Initial partners include Sharon AI and Firmus. Sharon AI plans to deploy up to 40,000 NVIDIA Grace Blackwell GB300 GPUs; Firmus will build a DSX AI factory campus in Batam, Indonesia, with a planned power capacity of 360 megawatts and a deployment of up to 170,000 NVIDIA GPUs.
Stablecoins Won't Scale Without Banks
With a growing number of institutions exploring stablecoins, the bottleneck is regulated infrastructure they can trust.
Bullish provides USD.AI $100M stablecoin facility for GPU-backed lending
The institutional crypto exchange is providing $100 million in stablecoin liquidity to support loans backed by AI computing infrastructure.
Morgan Stanley and UBS have diverged on their AI investment themes: the former favors a rotation among cloud service providers, while the latter is betting on a revaluation of AI infrastructure.
According to Mars Finance, on July 6th, as rotation within the US AI sector intensified, Morgan Stanley and UBS offered differing assessments of the next phase of AI investment. Morgan Stanley believes that funds are shifting from the previously surging semiconductor sector to hyperscale cloud service providers such as Microsoft, Amazon, and Meta. The AI rally is not over, but rather entering a sector rotation phase. UBS, on the other hand, is more optimistic about the long-term value creation capabilities of AI infrastructure. Their Holt team predicts that the profitability of memory chip companies such as Samsung Electronics, SK Hynix, and Micron will continue to improve, and the economic profit of the AI infrastructure sector is expected to increase from approximately $200 billion in 2023 to $1.4 trillion in 2027, an increase of approximately 600%, while the economic profit of large cloud service providers is expected to only increase to approximately $400 billion during the same period. UBS believes that the memory chip industry is transforming from a traditional cyclical industry into one of the most important value creators in the AI industry chain.
AI capital rotation, the full implementation of MiCA, and stablecoin competition are the focus of the market this week.
According to Mars Finance, on July 5th, discussions in the digital asset industry this week mainly revolved around AI, the EU's Crypto Asset Market Regulation Act (MiCA), stablecoins, and Bitcoin. Regarding AI, many industry insiders believe that current market funds are shifting from digital assets to AI infrastructure construction. In the future, the value of the AI industry will likely be captured more by application layer and infrastructure providers, rather than solely by large model developers. Furthermore, some believe that if the US government acquires a stake in OpenAI, it could further exacerbate the trend of AI industry consolidation. On the regulatory front, with the official end of the MiCA transition period, EU crypto asset service providers will need to obtain full MiCA licenses to continue operating. Industry insiders believe that regulatory compliance will gradually become a significant competitive advantage for European crypto payment and digital asset service providers. Regarding stablecoins, the industry continues to focus on the newly launched OpenUSD (OUSD). Analysts believe that its ecosystem network, involving over 140 institutions including Visa, Mastercard, Stripe, Coinbase, BlackRock, and BNY, is poised to challenge the existing stablecoin market structure, such as USDC, by leveraging its distribution advantages. However, some argue that OUSD still faces challenges such as liquidity cultivation and governance coordination. Regarding Bitcoin, market opinions are divided on the recent capital operations of Michael Saylor's Strategy. Some analysts believe the company's recent financing arrangements suggest it may still need to sell Bitcoin to meet future funding needs; others believe this move effectively alleviates market concerns about liquidity and default risk, constituting a proactive risk management measure.
The Reserve Bank of India reiterated its support for a "curb-prone ban" strategy on crypto assets, recommending that banks refrain from holding or trading crypto assets.
According to Mars Finance, on July 3, the Reserve Bank of India (RBI), in a document submitted to the Parliament's Standing Committee on Finance, reiterated its support for a "containment-oriented and prohibition-oriented" regulatory strategy for crypto assets, arguing that "prohibition" remains one of the policy options recognized by international regulatory frameworks. The RBI recommends that banks and other regulated financial institutions refrain from holding, trading, or providing exposure to crypto assets and privately issued stablecoins to avoid potential contagion risks to the financial system. The RBI stated that imposing traditional financial regulations on crypto assets could mislead the market, grant "legitimacy" to speculative assets lacking real economic value, and create a false sense of security for users. The RBI also warned that the large-scale adoption of stablecoins could weaken India's monetary sovereignty, weaken the transmission mechanism of monetary policy, fragment the payment system, and pose risks to financial stability. Therefore, it recommends prioritizing the development of sovereign digital payment infrastructure such as central bank digital currencies (CBDCs). Furthermore, the RBI questioned the ranking of India as having the highest crypto adoption rate globally, arguing that data based on private blockchain analytics firms has methodological flaws. The RBI pointed out that India currently has 54 FIU-registered crypto service providers, and approximately 39.3 million KYC-verified users holding crypto assets worth approximately 20.437 billion rupees. It stressed the need for a clear distinction between speculative crypto assets and the tokenization of real-world assets (RWAs) such as government bonds and corporate bonds to avoid hindering innovation in financial asset tokenization.