Gate News message, April 14, according to Gate market data, as of the time of writing, INX (Infinex) is trading at $0.01516. It is down 29.98% over the past 24 hours, with a high of $0.0296 and a low of $0.01413. The 24-hour trading volume is $9.0676 million. The current market cap is approximately $54.7882 million. Infinex is a crypto super app (Superapp) that aims to provide users with a unified experience across more than 25 blockchains by abstracting away the complexity of on-chain interactions. Infinex was founded by Kain Warwick, the founder of Synthetix. It includes Passkey authentication, cross-chain swaps and bridging, as well as native trading applications

Korean payment service provider NHN KCP has signed a memorandum of understanding with Ava Labs, planning to build a Layer 1 network for payment use cases based on Ava Cloud. This covers areas such as payment confirmation, transaction data encryption, and merchant payment infrastructure, while also exploring opportunities like tokenized deposits and cross-border payments. The launch of the L1 mainnet will be affected by South Korea’s crypto regulatory oversight.

A trader used Uniswap on Ethereum to buy low and sell high, spending 1.1 ETH to buy DOT and searching for different liquidity pools; ultimately, they successfully bridged 503k DOT tokens to the Base network and sold for a profit of $150k.

The European Central Bank supports consolidating regulatory authority over crypto assets with the European Securities and Markets Authority (ESMA). The proposal is intended to unify supervision, reduce opportunities for regulatory arbitrage, improve the efficiency of cross-border coordination, and strengthen investor protection. Going forward, ESMA will be responsible for regulating stablecoins, trading platforms, and more; the specific implementation details are still to be clarified.

The Government of the Hong Kong Special Administrative Region signed a cooperation memorandum with the National Internet Information Office to advance technological innovation and support the high-quality development of the digital economy, covering areas such as artificial intelligence and blockchain, with the aim of implementing the country’s “15th Five-Year Plan.” Lee Ka-chiu said it will deepen cross-border data cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area.

The latest report from the Federal Reserve Bank of Kansas City shows that stablecoins are mainly used for crypto trading and liquidity management, with the proportion used for real payment applications falling short of 1%. In the future, issues such as cross-chain interoperability and compliance frameworks need to be addressed to promote the development of their payment use cases.

Over the past 7 days, net inflows of funds across Ethereum cross-chain bridges reached $11.11B, ranking first among public chains. Solana and Polygon saw net inflows of $497 million and $397 million, respectively, while other chains such as Base, Avalanche, and others also had varying degrees of fund inflows.

Fueled by the U.S.-Iran geopolitical conflict, Western banks have accelerated their exit from large-scale commodity trade finance due to compliance and sanctions risks, prompting traders to shift to stablecoins for cross-border settlement. Stablecoins have become an alternative settlement tool; their usage is rising, with market value exceeding $300 billion and on-chain transaction volume reaching $4 trillion.

ClearBank has recently been approved by the Netherlands Authority for the Financial Markets to become a provider of crypto-asset services. It will launch EURC and USDC stablecoin services, aiming to improve the efficiency of cross-border payments. It will also deepen its collaboration with a certain CEX by offering savings accounts that cover the Financial Services Compensation Scheme.

The European Central Bank on April 12 supported transferring regulatory authority over major cross-border crypto institutions to the European Securities and Markets Authority (ESMA). This is a major structural change since the Markets in Crypto-Assets Regulation fully took effect, aimed at consolidating oversight of large crypto-asset service providers and others.