Crypto Weekly: Binance's plans in Greece, Revolut's UK crypto token

Crypto Weekly: Binance's plans in Greece, Revolut's UK crypto token

STORY: From Binance betting on a home in Greece to Revolut trialing a crypto token pegged to the British pound.

Binance has been seeking a regulatory home in Europe.

And its co-CEO Richard Teng has said Greece's labor force and security profile gave it the edge over larger financial centers.

The world's biggest cryptocurrency exchange holds about $44 billion worth of bitcoin in its customer wallets.

It last month applied in Greece to operate in the EU under the trading bloc's Markets in Crypto-Assets Regulation scheme.

Crypto companies must obtain the license by July this year.

As income from reserves got a boost from a rise in circulation of its stablecoin token.

It sent its shares up nearly 30%.

Circle's primary stablecoin is seeing a surge in adoption due to favorable regulations such as the GENIUS Act.

It was signed into law by President Donald Trump last year.

Circulation of USDC rose 72% from a year earlier to $75.3 billion in the fourth quarter.

Britain's Revolut will start testing a crypto token pegged to the British pound.

It's in a trial with three small companies but no big high-street lenders.

The Financial Conduct Authority said the trial will take place as part of the regulator's "sandbox" program, a trial with controlled conditions.

Britain's larger financial firms have generally been more cautious in their approach to stablecoins

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