Investor Insight

Charbone Hydrogen offers a compelling investment opportunity in the US$89 billion Ultra High Purity (UHP) and low-carbon intensity hydrogen market, leveraging a decentralized approach for scalable plant deployment and focusing on environmentally friendly production to reduce carbon footprints.

Overview

Charbone Hydrogen (TSXV:CH,OTCQB:CHHYF,FWB:K47) is an integrated company specialized in Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and the Asia-Pacific region. It is developing a modular network of green hydrogen production while partnering with industry players to supply helium and other specialty gases without the need to build costly new plants. This disciplined strategy diversifies revenue streams, reduces risks, and increases flexibility.

Charbone has recently accelerated its growth trajectory, securing a US$50 million financing to expand across North America, executing a US$1 million collaboration agreement to advance a green hydrogen project in Malaysia, and achieving multiple milestones at its flagship Sorel-Tracy facility in Québec.

With its exclusive focus on UHP green hydrogen, Charbone is positioning itself as a first mover in a multi-billion-dollar market. Leveraging Canada’s abundant hydroelectric power and expanding nuclear capacity, Charbone plans to deliver sustainable hydrogen solutions that meet rising demand from both governments and global industries.

Company Highlights

• Canada’s only publicly listed green hydrogen company: Charbone Hydrogen offers investors unique exposure to the fast-growing hydrogen economy as a company focused on green hydrogen production and distribution.
• Building a North American green hydrogen pipeline: The company is advancing multiple projects, anchored by its flagship Sorel-Tracy facility in Québec, to establish a scalable production and distribution network.
• Well-financed for growth and expansion: Charbone secured a US$50 million financing, facilitated by US Capital Global, to accelerate funding of modular build-out and expand its footprint across North America.
• Expanding into international markets: Through a US$1 million master collaboration agreement, Charbone is supporting the deployment of a green hydrogen project in Malaysia, highlighting its global reach.
• Aligned with strong policy and market tailwinds: For years, Canada leaned on centralized, fossil-based reformers. That playbook is obsolete. Now, Quebec’s hydropower surplus runs electrolyzers that split H₂O into H₂ and O₂ with zero carbon footprint. Charbone’s plug-and-play approach repurposes proven gear, slashing lead times and trimming capex. Charbone is well-placed for long-term growth.
• Exclusive focus on ultra-pure green hydrogen production: Charbone is dedicated to producing hydrogen using renewable hydroelectric and nuclear energy — a critical pathway to decarbonization and huge demand of ultra-high purity hydrogen in electronics and military sectors.

Project Pipeline and Key Partnerships

Charbone forged strong partnerships to execute its business model. Here’s where it gets cool: renewable hydroelectricity powers electrolyzers that split water into hydrogen and oxygen. Purification skids then crank it up to 99.999% purity—true industrial grade. This hydrogen production model serves everything from fuel-cell fleets and semiconductor fabs to specialty metal processing and next-gen refueling stations.

Charbone isn’t flying solo. They’ve teamed up with:

• A leading Canadian energy distributor supplying the battle-tested equipment
• Hydro-Québec delivering clean, reliable electrons
• An ABB partnership to boost North American production networks
• Offtake and supply agreements with U.S. Tier-One industrial gases producer
• Public listings on TSX Venture, OTCQB, and Frankfurt for global financing access

This lineup de-risks the rollout and turbocharges their momentum.

Charbone has signed a memorandum of understanding (MoU) with ABB to collaborate on the development of up to 15 modular and scalable green hydrogen production facilities across North America over the next five years. Under the MOU, ABB will support CHARBONE in standardizing basic engineering for systems and components across its project portfolio to increase energy efficiency and reliability.

Among the sites covered by the collaboration is Charbone’s flagship Sorel-Tracy facility near Montreal in Québec, Canada, which is currently under construction. The Sorel-Tracy facility is located on a 40,000-square-meter land parcel along Quebec Highway 30, known as the “Steel Highway” because of the numerous steel mills and process plants operating along the highway.

The construction of its Sorel-Tracy facility is being done in partnership with EBC, one of the largest construction companies in Quebec. EBC has a proven track record of designing and building facilities in Canada and the US. The partnership agreement gives EBC the right of first refusal to construct additional Sorel-Tracy phases, as well as one or all of Charbone’s facilities within the North American market.

In addition, Charbone has entered into several other strategic partnerships, all aimed at expanding its footprint in North America. The company entered into a special consultancy agreement with Enki GéoSolutions for potential partnership proposals as a co-operator and distributor of an emerging form of clean and renewable hydrogen, known as white or natural hydrogen.

In June 2024, Carbone executed a supply agreement for a complete containerized electrolyzer system ready for shipment to its flagship green hydrogen site in the City of Sorel-Tracy, Quebec. The electrolyzer has a higher capacity than originally planned and will significantly enhance initial operational capacity estimates. The company also acquired its first tube trailer for the transport and bulk delivery of compressed green hydrogen produced from the City of Sorel-Tracy, Quebec flagship project to local and domestic customers.

Charbone signed commercial supply agreements (CSAs) with a top-tier US industrial gas producer and distributor. The first CSA secures hydrogen supply ahead of Charbone’s own production, while the second expands its product offerings to include helium and other industrial gases. Positioned to capitalize on emerging North American opportunities, particularly in Canada, Charbone leverages its early-mover advantage to build strategic partnerships and strengthen its role in the low-carbon, high-purity hydrogen market.

Superior Plus

This partnership allows Charbone to sell hydrogen produced at the Sorel-Tracy facility to Certarus, a subsidiary of Superior Plus. Such supply agreements ensure that Charbone can generate cash flow immediately following the commencement of production.

Charbone Hydrogen entered into an off-take partnership with Certarus on the supply and

distribution of green hydrogen.

NEK Community Broadband

Another such supply agreement was signed in November 2023 with NEK Community Broadband, which ensures the supply of green hydrogen in the Northeast Kingdom of the state of Vermont (USA). NEK Broadband is building a high-speed broadband infrastructure and plans to install a hydrogen fuel cell backup system for a reliable power supply.

Oakland County Economic Development Department, Michigan

Further advancing its goal of US expansion, Charbone signed a memorandum of understanding in December 2023 with Michigan’s Oakland County Economic Development Department to set up Charbone’s first green hydrogen facility in the United States. Oakland County is home to major automakers, and a green hydrogen facility in their proximity will support the effort of producing environmentally friendly mobility options.

Being the only publicly listed green hydrogen player in Canada, Charbone offers investors a unique opportunity to participate in the rise of green hydrogen as a potential low-emitting alternative to fossil fuels.

Management Team

Dave Gagnon – Chairman and CEO

Dave Gagnon has been chairman and chief executive officer of Charbone Hydrogen Corporation since April 21, 2022. With over 20 years of executive leadership experience in Cleantech, Wind Power, Hydropower, Lithium Resources, and Industrial Gases, he has built a career focused on scaling innovative infrastructure, accelerating sustainable energy solutions, and leading cross-border growth initiatives in high-impact sectors.

Benoit Veilleux – Chief Financial Officer

Benoit Veilleux was appointed as the CFO of Charbone on August 15, 2022. Veilleux has over 15 years of experience in corporate accounting and finance. He began his professional career at KPMG in 2003, where he managed and coordinated audit teams for public companies until 2010. Since then, he has worked with a number of companies including Air Liquide Canada and the Hypertec Group.

Daniell Charette – Chief Operating Officer

Daniell Charette has been the chief operating officer of Charbone since February 2019. He brings over 25 years of experience in running and managing renewable energy companies. He has worked in senior leadership roles with several renewable companies including NEG Micon A/S, Vestas and Brookfield Power. He has served on various association boards and councils, including the Canadian Wind Energy Association, Association Québécoise des Producteurs d’Énergie Renouvelable, and Latin Wind Energy Association.

Francois Vitez – Director

Francois Vitez is a hydropower and energy storage expert with more than 24 years of experience in development, engineering and construction management as well as operations and maintenance of hydropower and energy storage projects in North America and internationally. He is a board member and chair of the Value of Hydropower committee at Waterpower Canada, vice-chair of the Energy Storage Association of Canada, board member of the California Energy Storage Association, and member of the International Hydropower Association.

Patrick Cuddihy – Industrial Gases Operations Team

Patrick Cuddihy is a seasoned operations leader with over 20 years of experience at Air Liquide Canada, to its hydrogen operations team. Patrick brings a wealth of expertise in managing industrial gas production and distribution, having held senior roles including network sales director for Quebec Region, general manager for Pacific Region, director of procurement services, and director of logistics and assets for the Eastern Region.

Nasdaq-100 performance, September 12 to 19, 2025.

Chart via Nasdaq.

Against that backdrop, the Nasdaq-100 (INDEXNASDAQ:NDX) put on a strong performance this week, closing at 24,626.25 on Friday (September 19), up 0.7 percent. The index saw momentum build toward the end of the week, supported by growth in technology and semiconductor stocks.

NVIDIA to take US$5 billion stake in Intel

While the Fed’s decision was a key factor for the tech sector this week, a landmark deal stole the spotlight.

A strategic partnership between NVIDIA (NASDAQ:NVDA) and Intel (NASDAQ:INTC) dominated the news cycle on Thursday (September 18), sending shockwaves through the semiconductor industry.

In a historic move, NVIDIA announced a US$5 billion investment in Intel as part of a new partnership. The companies will collaborate on custom data center and PC products, aiming to jointly develop custom CPUs and GPUs by integrating NVIDIA’s AI and accelerated computing technologies with Intel’s x86 platforms for data centers and personal computing.

The deal marks a major realignment in the chip industry focused on AI infrastructure innovation. Shares of both companies finished the week higher, with Intel notching a notable 21 percent increase.

Semiconductor exchange-traded funds (ETFs) also surged in response to the NVIDIA-Intel partnership announcement, with the iShares Semiconductor ETF (NASDAQ:SOXX) gaining 4.17 percent, the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) rising 3.93 percent and the VanEck Semiconductor ETF (NASDAQ:SMH) increasing 3.92 percent over the course of the week, reflecting strengthened investor confidence across the sector.

Semiconductor ETF performance, September 16 to 19, 2025.

Chart via Google Finance.

The Intel-NVIDIA collaboration comes after reports this week that China’s regulatory authority has instructed major tech firms like Alibaba (NYSE:BABA) and ByteDance to stop buying and cancel orders of NVIDIA’s AI chip designed for China. The news sent NVIDIA shares down early in the week, but the company ended the period flat.

The collaboration also helped provide a much-needed boost to Intel’s share price. The company has struggled with operational challenges and a difficult turnaround effort in the highly competitive semiconductor market.

In a direct reaction to the Intel-NVIDIA deal, shares of Advanced Micro Devices (NASDAQ:AMD) and Taiwan Semiconductor Manufacturing Company (NYSE:TSM) declined on Thursday.

The latter company recovered some of its losses on Friday.

Advanced Micro Devices and Taiwan Semiconductor Manufacturing Company performance, September 16 to 19, 2025.

Chart via Google Finance.

US and UK sign tech prosperity deal

In other tech news, the US and UK signed a memorandum of understanding on Friday, pledging to boost collaboration in science and tech. Called the Technology Prosperity Deal, the arrangement focuses on civil nuclear power, aiming for independence from Russian fuel by late 2028 and developing new tech like small modular reactors.

The agreement also establishes joint task forces for AI standards and security, as well as quantum computing breakthroughs, and explores civil maritime nuclear applications.

Tech news to watch next week

Next week, investors will have an eye on Micron Technology’s (NASDAQ:MU) fiscal Q4 results, scheduled to be released on September 23 after market close. Analysts are estimating revenue of around US$11.15 billion.

Accenture (NYSE:ACN), a professional services company, will also release its fiscal Q4 results next week on September 25, with revenue expected in the US$17 billion range.

Defense and security trends: Nature of war is changing

Defense spending jumped nearly 10 percent in 2024, according to a KPMG report on emerging trends in the aerospace and defense sector, representing “its fastest growth rate in nearly four decades.’

The firm attributes this growth to geopolitical destabilization both in Europe and in the Middle East. The global trade war surrounding rare earths, platinum-group metals, aluminum, steel and semiconductors is adding further pressure.

This increase in domestic defense spending has been translating into big wins for defense and security stocks. As Raymond James’ September Defense & Government Market Intel Report shows, publicly traded companies in the US defense sector are up by 57.8 percent since September 2024.

In a June interview with Federal News Network’s Terry Gerton, Sam Maness, managing director of Raymond James’ Defense and Government Group, ascribed the growth to the anticipated increase in funding for domestic defense contractors. He noted that US-China tensions and other geopolitical conflicts are “lead(ing) to bullishness for anything that is more meaningfully touching mission, and defense technology naturally does that.’

Looking forward, analysts expect supply chain sovereignty and cutting-edge technological advancements to be the major themes in this sector as nations look to cost effectively build out their domestic defense industries. At the same time, new weapons systems are reshaping the nature of war both on the battlefield and online.

“The way conflicts are resolved is changing rapidly and new technologies are disrupting the battlefield strategy,” states KPMG in its report. “Defense departments need rapid innovation and are no longer willing to wait years for a custom system when an ‘80% Solution’ can be purchased off-the-shelf.”

So what technologies are getting the most attention in the defense sector?

As mentioned, cybersecurity, autonomous systems and AI solutions are in the spotlight, and companies with dual-capability technologies are getting recognition. Below are examples of defense stocks tracked by Raymond James that are focused on providing these technologies to both the civil and defense sectors.

Cybersecurity defense stocks

One of the greatest threats to modern militaries is cyber attacks. This makes securing military IT infrastructure, communications networks and weapons systems mission critical for today’s armed forces.

L3Harris Technologies (NYSE:LHX) is a leading US defense contractor that provides cybersecurity solutions such as end-to-end technologies across air, land, sea, space and cyber domains.

The firm also serves public safety sectors such as law enforcement and fire; commercial sectors such as utilities and transportation; the commercial aviation space; and the healthcare industry.

Mercury Systems (NASDAQ:MRCY) develops secure processing subsystems, embedded computing and mission-critical technologies with advanced cybersecurity features for military and defense applications.

The company also supplies the aviation and industrial sectors.

V2X (NYSE:VVX) supplies vehicle-to-everything cybersecurity to secure communications between military vehicles, drones and command centers. It is in the process of acquiring federal IT business of QinetiQ Group (LSE:QQ), which provides data engineering, intel mission support and cyber solutions for US intelligence agencies.

In the civil and commercial space, the company provides solutions to first responders, commercial fleets and the auto sector, as well as urban mobility and utilities.

Zscaler (NASDAQ:ZS) is a leader in cloud-native security and its zero-trust architecture platforms are used by the US Department of Defense, intelligence agencies and other defense contractors. In August, the company acquired Red Canary, adding to its portfolio of cybersecurity detection and response solutions for US defense and intelligence agencies. Zscaler also serves the healthcare, finance, retail, energy, manufacturing and public sectors.

Autonomous system defense stocks

The changing nature of war is probably best represented in the rapid innovation and adoption of lower-cost autonomous systems such as drones, unmanned ground vehicles, robotics and counter-drone technologies.

A key supplier to the US military, AeroVironment (NASDAQ:AVAV) designs and manufactures unmanned aerial vehicles and robotics systems primarily for military surveillance and reconnaissance.

The company also provides electric energy systems to the commercial and public sectors.

Kratos Defense & Security Solutions (NASDAQ:KTOS) specializes in advanced defense technologies such as unmanned systems, satellite communications and hypersonics, while adapting them for commercial markets.

Teledyne Technologies (NYSE:TDY) provides drones, unmanned vehicles and robotics-related technologies to the defense sector through its subsidiary Teledyne FLIR.

It also provides these technologies for the civil aviation, manufacturing and energy sectors.

Through its subsidiary Textron Systems, Textron (NYSE:TXT) develops and integrates autonomous and robotics systems for the US Department of Defense and military operations for intelligence, surveillance and reconnaissance missions. The company’s autonomous technologies portfolio also extends into civil aviation, law enforcement and critical infrastructure protection for government and civilian operations.

Artificial intelligence defense stocks

AI technologies are rapidly being integrated into existing and emerging defense tech, including unmanned aerial and ground vehicles, reconnaissance and surveillance systems as well as hypersonic weapons.

Curtiss-Wright (NYSE:CW) is a global engineering company that provides products such as sensors, controls and data acquisition systems for the defense, aviation, nuclear power and industrial markets. Its defense solutions division has produced AI-optimized rugged embedded computing systems for use on the battlefield.

Leonardo DRS (NASDAQ:DRS) specializes in AI-enabled computing and sensing for tactical military platforms, including for use in US Army ground vehicles. Its technology is also used for public safety and infrastructure protection during disaster responses, as well as in industrial automation, medical diagnostics and commercial transportation.

Palantir Technologies (NASDAQ:PLTR) is a leading defense contractor that delivers AI platforms for the US military and its allies. It partners with other major defense industry companies such Northrop Grumman (NYSE:NOC) and Anduril Industries. Palantir’s technology is also widely used in the civil sector, as well as by more than half of Fortune 500 companies in sectors such as healthcare, energy, finance and manufacturing.

Voyager Technologies (NYSE:VOYG) is a defense- and space-focused AI technology company that provides national security solutions with partners such as Palantir. In August, it acquired Electromagnetic Systems, adding AI-based automated target recognition software and intelligence analytics for space-based radar systems to its portfolio. Voyager’s AI tech is also used by NASA and commercial satellite operators.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$115,191, a 1.9 percent decrease in 24 hours, and its lowest valuation of the day, after an earlier price peak to US$116,450.

Bitcoin price performance, September 19, 2025.

Chart via TradingView.

The crypto market showed strength this week, bolstered by investor confidence after the US Federal Reserve’s interest rate cut on Wednesday (September 17) and NVIDIA’s (NASDAQ:NVDA) US$5 billion investment in Intel (NASDAQ:INTC).

Meanwhile, the US Securities and Exchange Commission’s (SEC) adoption of new generic listing standards for spot crypto exchange-traded products paves the way for faster approvals of products tracking digital assets.

The REX-Osprey XRP ETF (NYSEAMERICAN:XRPR) and the REX-Osprey DOGE ETF (NYSEAMERICAN:DOJE) launched on Thursday (September 18) as the first implementations of this rule change.

The funds saw US$37.7 million and US$17 million traded on the day, respectively.

Ether (ETH) was trading at US$4,445.54, down by 3.2 percent to its lowest valuation on Friday. The cryptocurrency’s highest valuation was US$4,541.88.

Altcoin price update

• Solana (SOL) was priced at US$236.73, a decrease of 4.8 percent over the last 24 hours. Its lowest valuation of the day was US$236.10, while its highest valuation was US$242.53.

• XRP was trading for US$2.99, down by 3.8 percent in the past 24 hours, its lowest valuation of the day. Its highest was US$3.04.

• SUI (Sui) was valued at US$3.65, trading at its lowest valuation of the day and down by 7.6 percent over the past 24 hours. Its highest price point on Friday was US$3.75.

• Cardano (ADA) was priced at US$0.8959, down by 3.6 percent over 24 hours. Its lowest value of the day was US$0.8933, while its highest value was US$0.9075.

ETF data & derivatives trends

Spot Bitcoin ETFs drew record inflows this week, with around 20,685 BTC were added. The influx pushed US spot Bitcoin ETF holdings to around 1.32 million BTC worth US$150 billion.

BlackRock’s iShares Bitcoin Trust ETF (NASDAQ:IBIT) led with US$1 billion in net buys, while Fidelity’s Advantage Bitcoin ETF (TSX:FBTC) topped US$843 million and ARK 21Shares Bitcoin ETF (BATS:ARKB) added US$182 million.

Meanwhile, US Ethereum ETFs saw outflows of US$62 million over the week.

Altcoin ETFs are also taking shape. In mid-September, the SEC approved the first US ETFs for XRP and Dogecoin. DOGE jumped by 20 percent upon its ETF debut. This altcoin ETF wave, now backed by giants like Grayscale and Franklin Templeton, is reshaping flows and legitimizing more speculative assets.

On the derivatives side, leverage is at a near-record level.

Bitcoin futures open interest surpassed US$220 billion in September. CryptoQuant notes clusters of orders just above and below the spot price, so any sharp swing, even a small break, could trigger “record liquidations.”

Bitcoin liquidations have totaled approximately US$13.71 million over the past four hours, predominantly from long positions, indicating continued selling pressure in the market.

Ethereum liquidations reflected a similar trend, with about US$10.85 million liquidated in the same period, of which US$10.08 million were long positions, signaling sustained bearish momentum.

The perpetual funding rate for BTC was at 0.0064 percent, while the ETH funding rate stood at 0.001 percent, indicating a neutral or balanced market without strong bias toward bullish or bearish positioning.

Market indicators showed an RSI level of 41.03 as of 8:00 p.m. UTC, suggesting neutral conditions.

Next week’s crypto news to watch

Bitcoin has formed a rising wedge pattern over the past month, with a bearish divergence noted by on-chain analysts. Technically, Bitcoin appears to be in a mild consolidation after last week’s surge.

CryptoQuant analyst Axel Adler has observed that Bitcoin is trading just above its short-term holder realized price.

In equities, the S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDE XNASDAQ:.IXIC) hit record highs as crypto pulled back modestly on Friday, reflecting a temporary decoupling.

Key crypto catalysts to watch next week include potential announcements out of Korea’s Blockchain Week, scheduled to run in Seoul from September 22 to 28.

Additionally, LayerZero (ZRO) is scheduled for a major token unlock on September 20 of approximately 25.7 million ZRO tokens, roughly 8.5 percent of the current circulating supply, valued at around US$52.5 million

Other significant upcoming unlocks include Optimism’s 116 million OP tokens on September 21 and AltLayer’s 3.7 million ALT token release on September 25.

Today’s crypto news to know

Stablecoin startups post fundraising record

Funding for stablecoin-related companies has surged to unprecedented levels this year, with 14 firms raising a combined US$537 million so far, according to DefiLlama data. That figure marks a sharp jump from the US$84 million raised across all of 2024, underscoring a wave of investor confidence in fiat-pegged digital assets.

The year’s biggest deal came in July, when Hong Kong’s OSL Group (HKEX:0863) secured US$300 million.

Analysts have linked the momentum to favorable regulatory shifts, including the GENIUS Act, signed into law by U.S. President Donald Trump in July, which provided legal clarity for stablecoin issuers.

The sector’s rapid rise is also visible in secondary markets. For instance, after its initial public offering in June, Circle (NYSE:CRCL) is now trading at four times its debut value.

Watchdog flags Trump-linked crypto firm for token sales to sanctioned actors

A watchdog group has accused World Liberty Financial, a cryptocurrency venture tied to US President Donald Trump, of allowing its tokens to flow into the hands of users connected with sanctioned entities.

According to Accountable.us, WLFI tokens ended up with wallets linked to North Korea’s Lazarus Group, Iran’s Nobitex exchange, and Russian traders, despite long-standing US restrictions.

The report highlights one case on Jan. 20, 2025, when WLFI sold 600,000 tokens, worth roughly US$10,000, on Trump’s inauguration day to a wallet later tied to Lazarus transactions.

Even after DeFi platforms flagged the account, the wallet continued operating until late August, receiving WLFI’s branded USD1 stablecoin as part of an airdrop. Separate sales were traced back to Iran’s Nobitex in October 2024, a platform that Chainalysis has previously identified as a hub for sanctions evasion.

The allegations raise questions over WLFI’s compliance and could intensify regulatory pressure on the company.

Trump’s team has not publicly responded to the claims.

Ethereum Foundation announces next hard fork details and timeline

Ethereum’s Fusaka hard fork is scheduled for mainnet launch on December 3, 2025, according to an announcement shared by Ethereum researcher Christine D. Kim.

The upgrade will include 11 to 12 Ethereum improvement proposals focused on scalability and network efficiency, particularly doubling blob capacity to enhance layer-2 transaction throughput.

Testing will occur on public testnets throughout October and November. A US$2 million audit competition is underway to ensure Fusaka’s code security ahead of deployment.

The upgrade follows May’s Pectra hard fork and sets the stage for subsequent improvements planned for 2026.

PayPal’s US dollar stablecoin expands to nine blockchains

PayPal Holdings’ (NASDAQ:PYPL) US dollar stablecoin, PYUSD, is expanding to nine new blockchains through a partnership with interoperability protocol LayerZero.

The move broadens the token’s reach beyond its native issuance on Ethereum, Solana, Arbitrum, and Stellar, making it accessible across networks like Avalanche, Aptos, Tron, and others.

As part of the rollout, LayerZero created a wrapped version called PYUSD0, which is fully interchangeable with the original token and operates within its Hydra Stargate system.

The expansion is designed to accelerate adoption and cement PYUSD’s role as a dollar-backed instrument across the crypto ecosystem. Since launching in 2023 through issuer Paxos, PYUSD has grown steadily, with supply climbing from US$520 million at the start of the year to US$1.3 billion.

Kraken, Trust Wallet partner to expand xStocks access

Kraken has partnered with Trust Wallet to expand access to xStocks, a tokenized equities product developed by Backed.

This collaboration, announced on Friday, brings 60 tokenized US equities to over 200 million Trust Wallet users worldwide, allowing them to trade these assets across multiple blockchains using a variety of local fiat currencies.

“For xStocks to achieve true mass adoption, seamless integration with the world’s most popular self-custody wallets is vital. Bringing xStocks to Trust Wallet places open and interoperable tokenized equities directly into the hands of millions, alongside the crypto, stablecoins and DeFi assets they already use every day,” said Kraken co-CEO Arjun Sethi.

In the coming weeks, the team said it will continue collaborating with partners to introduce xStocks to additional high-performance blockchains and leading consumer applications.

Canadian regulators called to crypto action

In a speech on Thursday, the Bank of Canada’s executive director of payments, Ron Morrow, said that Canada is behind other countries in developing rules for the use of stablecoins and should consider regulations for digital assets given the growing interest in them domestically and the US’ efforts to enable widespread adoption.

“Governments are moving to regulate stablecoins and other cryptocurrencies so consumers can reap their benefits and be protected from credit and liquidity risks. In fact, many jurisdictions worldwide either have, or will soon have, a regulatory framework for cryptoassets,” Morrow said during a keynote speech at the ONE Conference in Ottawa.

He called on federal and provincial regulators to “work quickly and collaboratively to evolve our regulatory frameworks.”