A fresh $250 million USD Coin (USDC) mint by the USDC Treasury is getting attention from crypto market watchers.

This large transaction, highlighted by Whale Alert, comes as the overall stablecoin sector shows steady growth.

A fresh $250 million USD Coin (USDC) mint spotted by crypto market intelligence highlighted by Whale Alert has traders discussing what’s next.

This large transaction is part of the overall stablecoin sector showing steady growth.

The total market cap for stablecoins now stands just above $236.6 billion, according to DefiLlama data. That’s a $2.135 billion (+0.91%) increase over the past week.

Tether (USDT) remains the dominant player, controlling a hefty 61.77% market share. It’s also heating up as its circulating supply went up 0.26% daily, 0.50% weekly, and 1.17% monthly. Tether is usually used more heavily when its price falls, which could indicate a slight demand shift away from USDT.

The Union Bank of Switzerland (UVNB.DE) is rolling out a new service that will allow institutional clients to trade digital assets on a 24/7 basis.

According to a report by Bloomberg, the service, which is set to launch in the fourth quarter of 2023, will offer spot trading in major cryptocurrencies such as Bitcoin and Ethereum, as well as limited derivatives products.

The move comes as Swiss banks are expanding their offerings in the digital asset space in response to growing demand from institutional investors.

Earlier this year, both Credit Suisse and Deutsche Bank began offering crypto trading services to institutional clients.

The new service will be available to clients of Union Bank of Switzerland’s (UVNB.DE) Global Asset Management and Investment Banking units, who will be able to access the bank’s balance sheet and liquidity for their trades.

The bank will also provide custody services for the digital assets, which will be held in segregated accounts.

The service will be offered through a dedicated platform that will provide market data, research, and analytics to support clients’ investment decisions.

Union Bank of Switzerland is one of the world’s leading private banking and investment management institutions. It provides services to clients in more than 50 countries around the world.

The bank has been expanding its digital asset capabilities in recent years. In 2021, it launched a blockchain-based trade finance product and began offering custody services for Bitcoin and Ethereum to institutional clients.

The launch of the 24/7 digital asset trading service is the latest step in this expansion. It is also a response to the growing demand for institutional-grade crypto trading services.

As the digital asset market continues to mature, we are seeing increasing interest from institutional investors, said Roman Kurmann, head of fixed income and currencies at Union Bank of Switzerland’s Global Asset Management unit. We are launching this new service to provide our clients with the seamless access to this asset class that they need.

The new service will be available in the fourth quarter of 2023 in major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Union Bank of Switzerland is also planning to offer limited derivatives products, such as futures and options.

The service will be available 24/7 to clients of the bank’s Global Asset Management and Investment Banking units. This will allow clients to trade digital assets at any time, seven days a week.

Union Bank of Switzerland will also provide custody services for the digital assets, which will be held in segregated accounts in accordance with applicable regulations.

The digital assets will be custodied in accordance with the highest industry standards to ensure the safety and security of our clients’ assets, said David Maiocchi, head of institutional equities, derivatives and structured products at Union Bank of Switzerland’s Investment Bank.

The new service will be offered through a dedicated platform that will provide clients with access to market data, research and analytics to support their investment decisions.

This service will bring together the best of Union Bank of Switzerland’s capabilities to provide our clients with a best-in-class experience, said Bruno Baruzzi, head of cash equities at Union Bank of Switzerland’s Investment Bank.

The launch of the 24/7 digital asset trading service is the latest step in Union Bank of Switzerland’s expansion into the digital asset market.

Earlier this year, both Credit Suisse and Deutsche Bank began offering crypto trading services to institutional clients. These offerings were seen as a response to the growing demand for these services from institutional investors.

Union Bank of Switzerland has also been expanding its offerings in other areas, such as trade finance. Earlier this year, the bank launched a blockchain-based trade finance product that is designed to streamline and speed up cross-border payments.

The bank is also investing in other blockchain and digital asset technologies that can help it to improve its products and services and to create new revenue streams.

The launch of the 24/7 digital asset trading service is a significant development that highlights the Swiss bank's commitment to expanding its offerings in the digital asset