TÝR grows, Goobit CEO speaks out, Bitcoin drops on Fed split — Thu 9 Jul

The Fed just revealed its internal split — and nine officials now want a rate hike. Bitcoin felt it immediately. Meanwhile, Norway's crypto market is showing what the post-MiCA world looks like in practice: one exchange growing fast, one shutting down, and a CEO considering crossing the border to reapply.

Some of the stories in today's edition:

💎 TÝR Markets hits NOK 92 million in June volume — 18% of the Norwegian market
💎 Goobit CEO: "Major disappointment" — considering applying in Norway
💎 Bitcoin drops after Fed minutes reveal a hawkish split on rate hikes
💎 Japanese firms are buying Bitcoin and XRP to escape the weak yen
💎 Nium acquires Cypher to bridge fiat and onchain payments

— Morten

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TÝR Markets traded close to NOK 92 million in June — which by the company's own calculations amounted to 18.1% of Norwegian crypto trading, excluding K33. CEO Filip Berg-Nielsen attributed the growth to low fees, access to global liquidity and the security of trading through a Norwegian MiCA-regulated counterparty.

Why it matters: TÝR Markets is the first Norwegian crypto platform to receive MiCA authorisation under Article 63. Its rapid volume growth makes it one of the most visible post-MiCA success stories in the Nordics.

Source: TÝR Markets grows sharply with NOK 92 million June volume — Kaupr

Swedish crypto asset manager Virtune has listed a physically-backed Hyperliquid ETP on Nasdaq Stockholm and Helsinki. Virtune holds over 90% market share for crypto ETNs on Nasdaq Nordics and has attracted over 160,000 investors with roughly $250 million in AUM.

Why it matters: Hyperliquid has become the leading decentralised platform for perpetual futures by trading volume. Virtune's listing gives Nordic retail and institutional investors regulated access to one of crypto's biggest winners of the past six months.

Source: Virtune lists Hyperliquid ETP in Stockholm and Helsinki — Kaupr

Hilbert Group — listed on Nasdaq First North Growth Market — is launching Hilbert Finance, a dedicated division for institutional crypto lending, financial infrastructure and future licensed financial services. The division will operate alongside the group's existing asset management business. CEO Barnali Biswal described it as a step toward becoming Europe's leading institutional full-stack digital finance platform.

Why it matters: Hilbert is moving from pure asset management into institutional lending and financial infrastructure — a significant expansion of scope that positions it for the post-MiCA regulated market.

Source: Hilbert Group launches new division for crypto finance — Kaupr

See also: Hilbert Group expands directed share issue from 46 to 53 million

Goobit CEO Christian Ander told Svenska Dagbladet that the MiCA rejection from Finansinspektionen was "a great disappointment" after two years of preparation. The company is weighing its options: shutting down, appealing, reapplying in Sweden, or applying in Norway. Ander also acknowledged that Goobit received a 2 million SEK AML sanction from FI in 2023 — the same type of deficiency now cited in the MiCA rejection.

Why it matters: Three of four Swedish MiCA applicants were rejected. Goobit's statement adds a human dimension to what has been a regulatory story — and Ander's Norway comment will draw attention from operators across the Nordics.

Source: Goobit CEO: "Major disappointment" over MiCA rejection — considering applying in Norway — Kaupr

See also: The Swedish FSA confirms the reason for Goobit's MiCA rejection

The Federal Reserve released minutes from its June 16-17 FOMC meeting on July 8, showing that nine of 19 officials now project at least one rate hike before end of 2026 — a reversal from earlier projections showing no hikes at all. Bitcoin dropped 2.7% to $62,240 in the 24 hours following the release.

Why it matters: Nine officials now leaning toward a hike changes the rate path calculus for risk assets. Crypto has historically been highly sensitive to Fed tightening signals, and this was Warsh's first set of minutes as Fed Chair.

Source: Fed minutes set to reveal hawkish surprise that could rattle crypto markets — Crypto Briefing

SBI VC Trade — the crypto arm of Tokyo-based SBI Holdings — says its registered accounts have surpassed 2 million, roughly double the count from 2025. Corporate demand for its institutional service is rising as the weak yen pushes Japanese firms to diversify reserves away from cash, and companies are distributing Bitcoin and XRP through shareholder benefit programs.

Why it matters: Japan is running the debasement trade in real time. Corporate treasuries moving into Bitcoin and XRP because of yen weakness is the original Bitcoin thesis — now visible in institutional account data from one of Japan's largest financial groups.

Source: Bitcoin, XRP draw Japanese firms as weak yen drives treasury diversification — CoinDesk

Kraken is pursuing a full banking licence in Europe, with Lithuania as the prime candidate, according to Kaupr. If successful, it would become the only crypto exchange to hold banking status in the EU/EEA — following the same regulatory route Revolut took in 2018. CEO Arjun Sethi has said the company's ten-year plan is to acquire all major financial licences globally.

Why it matters: A banking licence gives Kraken the ability to offer full current accounts, consumer lending and stock trading across the entire EEA under a single passport — making it the most regulated crypto platform in Europe by some margin.

Source: Kraken reportedly seeking banking licence in Lithuania — Kaupr

At a financial conference on July 8, CySEC chairman George Theocharides said crypto assets are "becoming increasingly integrated into the broader financial ecosystem, interacting with traditional financial instruments, regulated intermediaries and institutional investors." Central Bank of Cyprus board member George Karatzias added that stablecoins are increasingly acting as a bridge between traditional finance and crypto — and that "scale brings responsibility, and responsibility requires supervision."

Why it matters: When both the securities regulator and central bank of an EU member state describe crypto integration as structural rather than cyclical, it carries weight for operators and investors choosing their EU base.

Source: Crypto assets moving into mainstream finance, Cyprus regulators say — Cyprus Mail

Global cross-border payments infrastructure provider Nium has acquired Cypher — a crypto-native non-custodial wallet and card issuing company backed by Y Combinator and Coinbase Ventures. The deal follows Nium's stablecoin card issuance platform launch, its Circle partnership and its Coinbase integration. Cypher's founder joins Nium as VP of Digital Assets. (Source: press release)

Why it matters: Nium operates in 190+ countries with 40+ regulatory licences. Adding Cypher's onchain wallet infrastructure gives it a credible bridge between fiat rails and blockchain-native payments — and accelerates its positioning for agentic payments.

Source: Nium acquires Cypher, expanding its fiat-to-on-chain money movement infrastructure — Fintech News Singapore (Source: press release)

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Wishing you a great Thursday — and welcome back tomorrow morning for the next edition of Kaupr Today.

Best regards
Morten Myrstad
Founder & Editor