Visa Adds Monad to Stablecoin Settlement Options as Institutions Seek More Rails
Visa’s growing list of blockchain settlement options reportedly has a new entrant: Monad. According to a November 10 report citing the Monad Foundation, participating Visa issuers and acquirers can now use the network for stablecoin settlement. That is a back-office financial infrastructure development, rather than a new consumer-facing Visa card that automatically makes every merchant…
Standard Chartered Expands Prime Brokerage Partnership With 24X to Cover BTC and ETH
Institutional investors will be able to access Bitcoin and Ether trading through an expanded relationship between 24X and Standard Chartered. In a November 10 announcement, 24X Bermuda said the banking group will extend its prime-brokerage role from foreign-exchange products to digital assets on 24X’s multi-asset technology platform. TL;DR: 24X says Standard Chartered is expanding its…
Charles Schwab Opens Live Solana, Avalanche and Chainlink Trading to Eligible Clients
Charles Schwab has moved three major altcoins from its expansion plan into its live crypto trading menu. The brokerage announced on November 9 that eligible Schwab Crypto clients can now trade Solana, Avalanche and Chainlink, alongside Bitcoin and Ethereum. The distinction between ‘planned’ and ‘available’ is the new milestone here. TL;DR: Schwab Crypto now supports…
Walt Launches Standalone Crypto App After Years Inside Telegram
The wallet platform that grew up inside Telegram is trying to become a destination in its own right. Walt, previously branded Wallet in Telegram, launched a standalone Android app on November 10. The company says an iOS version will follow. For the first time, customers can sign up without using Telegram, with Google and Apple…
Coinbase, Kalshi and Other Firms Back CFTC in Fight Over Stock Perpetuals
A dispute over who may regulate perpetual futures linked to individual US stocks is drawing some of crypto’s most prominent companies into federal court. Coinbase, Kalshi, Kraken parent Payward, DRW, Jump Trading and Paradigm have sought permission to support the Commodity Futures Trading Commission in litigation brought by the Capital Markets Alliance Association. Their proposed…
EU Seeks Experts to Help Set Tokenisation Standards as Financial Markets Move Onchain
TL;DR: European authorities are inviting nominations for a new Tokenisation Standards Group, with applications due on November 27. The effort is about practical coordination across the financial system, not a new approval for cryptocurrency tokens or a promise that all tokenized assets will be regulated alike. Europe is trying to solve a problem that has…
Securitize Plans River One Acquisition to Connect Stablecoin Capital With Asset-Backed Finance
TL;DR: Securitize has announced an agreement to acquire River One as it looks to connect tokenized capital with traditional asset-backed financing. The cited $6 trillion refers to the broader market opportunity, not the transaction price, and the proposed deal still needs to close. Securitize is moving from issuing and servicing tokenized assets toward a potentially…
SEC Staff Gives Canton Coin No-Action Relief, but the Conditions Matter
TL;DR: Canton Coin received an important piece of US regulatory clarity on November 3 when staff in the Securities and Exchange Commission's Division of Corporation Finance issued a no-action response. The staff said, based on representations made to it, that Canton Coin fits the description of a digital commodity in the Commission's March interpretation. Canton…
Canton Hosts Tokenized US Share Trade Under SEC Innovation Exemption
TL;DR: A tokenized share transaction involving a Nasdaq-listed company has taken place on Canton under a US regulatory exemption, according to an announcement from venue operator TSV. The November 4 transaction involved shares of Canton Strategic Holdings and a permissioned pool using Tradecraft's automated market maker technology. A tokenized share transaction involving a Nasdaq-listed company…
Broadridge Says Blockchain Repo Platform Processed $7.6T in October
TL;DR: Broadridge says its Distributed Ledger Repo service processed $7.6 trillion in repurchase agreement transactions during October, averaging $345 billion a day. The November 6 disclosure is a striking reminder that some of blockchain's largest financial use cases are institutional plumbing rather than publicly traded tokens. Broadridge says its Distributed Ledger Repo service processed $7.6…