Kaitlin Asrow, the acting superintendent of the New York State Department of Financial Services (DFS), says she wants “to build on New York’s first-in-the-nation stablecoin framework” via new provisions that address reserve amounts and risk management aspects of the U.S. Department of the Treasury’s proposed requirements for state frameworks to be certified under the GENIUS… Read More >>
State Street & Galaxy Digital Unveil a Tokenized Fund
State Street Investment Management and Galaxy Asset Management have launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP). This tokenized private liquidity fund enables 24/7 on-chain cash management via stablecoin, subject to the availability of stablecoin in the fund’s portfolio, officials say. The launch is “a milestone in State Street’s digital strategy to offer… Read More >>
tZERO & Streamex Facilitate Secondary Trading of GLDY
Blockchain tokenization infrastructure provider tZERO Group has inked a deal with Streamex, a company specializing in institutional-grade tokenization of real-world assets and commodity-backed stablecoins. The agreement will enable secondary trading of Streamex’s new gold-linked stablecoin product, GLDY, on tZERO’s SEC- and FINRA-regulated alternative trading system (ATS). By wrapping an institutional-grade trading architecture around the product… Read More >>
LMAX Group & Ripple Push for Stablecoin Adoption
LMAX Group, a cross-asset marketplace for FX and digital assets, and Ripple, a financial technology company offering crypto solutions for businesses, have launched a partnership to “accelerate the fusion of traditional and digital capital markets,” officials say. As part of this multi-year collaboration, LMAX will integrate Ripple’s stablecoin RLUSD, which is pegged to the U.S…. Read More >>
CFTC Seeks Nominees for ‘CEO Innovation Council’
The U.S. Commodity Futures Trading Commission (CFTC) is seeking “expert industry leaders” to join its new CFTC CEO Innovation Council, which is intended to help the regulator “in shaping responsible regulations that will lay the foundation for America’s Golden Age of Innovation,” says Caroline D. Pham, the acting chairman of the CFTC. Those who wish… Read More >>
Deutsche Börse Embraces Societe Generale-Forge’s Stablecoin
Deutsche Börse Group, Société Générale Group, and Société Générale – Forge (SG-Forge) are working together to hasten the integration of token-based cash solutions with traditional financial market infrastructures, which is likely to help advance the usage of stablecoins. The combined offerings to come would conform to the E.U.’s Markets in Crypto-Assets Regulation (MiCA), officials add…. Read More >>
FSB Warns Against Gaps in Digital Assets Regulation
The Financial Stability Board (FSB) is pushing jurisdictions to make their regulation of cryptocurrencies and other digital assets more consistent with the FSB’s framework and to follow new recommendations aimed at facilitating a cohesive oversight of the global crypto-asset market and preventing regulatory arbitrage. A new peer review progress report from the FSB cites “significant… Read More >>
Integral Launches a Stablecoin-based Crypto Prime Broker
Integral, an FX and digital asset technology provider, has launched PrimeOne, a stablecoin-based crypto prime brokerage that is already live with customers and liquidity providers such as Virtu Financial and Europa Partners, officials say. The new crypto prime brokerage is “built on the Codex Layer-1 EVM blockchain” to provide “institutional-grade credit, trading, and net settlement… Read More >>
CFTC Unveils Tokenized Collateral Initiative
The Commodity Futures Trading Commission (CFTC) is doing everything it can to facilitate a Golden Age of Crypto, according to Caroline D. Pham, the CFTC’s acting chairman. For instance, CFTC “will launch an initiative for the use of tokenized collateral, including stablecoins in derivatives markets. This initiative builds on the CFTC’s successful Crypto CEO Forum… Read More >>
Major Players Achieve On-Chain Financing of U.S. Treasuries
The blockchain pioneer Digital Asset and a consortium of financial services firms and providers report that they have facilitated in real time an on-chain financing of U.S. Treasuries (UST) against the USDC stablecoin, achieving a first for the securities industry. The stablecoin USDC is a cryptocurrency whose value is linked to the U.S. dollar; it… Read More >>
