The Wrap: archive
Every The Wrap story in Digital Assets, newest first. 77 stories
1 story
HSBC rolls out RedCoin stablecoin to PayMe's 3.3 million users
The Hong Kong dollar token is fully backed by high-quality liquid assets in separate accounts; a tokenized money market fund share class is next.
2 stories
Ripple Prime says it offers round-the-clock swaps on 100-plus markets as HSBC flags thin depth
The brokerage formerly known as Hidden Road announced the service on Oct. 15, with Virtu already trading.
Vault12 says SEC token safe harbor keeps VGT off exchanges
The wallet-backup firm raised $17.45 million in a 2018 token sale and says exchanges want assurance the SEC will not later challenge VGT.
1 story
OCC issues final GENIUS Act stablecoin rule without rewards examples
The rule adds a sign-off requirement for payment stablecoin rewards and takes effect January 18.
2 stories
OKXICE notice lists nine objectors including Broadcom, Verizon and UnitedHealth
The October 15 notice names eight newly disclosed objectors among the nine, without reasons or dates.
JPMorgan plans JPM Coin on Ethereum for approved counterparties
The bank cited public-chain liquidity; The Block reported peer-to-peer transfers within the Ethereum Virtual Machine ecosystem, including Base.
2 stories
Evernorth names Ripple, Kraken, Coinbase and BitGo for $648M XRP treasury
The company describes the lending and yield work as phased and has not detailed the counterparties' roles, terms or timetable.
MSCI finalizes index rules that could remove Strategy and Metaplanet from global equity indexes
Affected companies will be named Nov. 11; the change takes effect at the close of Nov. 30.
2 stories
Perpetuals.com files with SEC to run tokenized US stock venue
The Nasdaq-listed fintech, run by former FTX Europe chief Patrick Gruhn, is the second firm to seek the SEC's innovation exemption for tokenized U.S. equities.
Kraken Parent Payward to Buy Lithuania's Saldo Bank for EU Banking License
The Kraken parent would gain a license to offer interest-bearing deposits, loans, payment cards and euro payments.
1 story
BNY and Citadel Securities Complete Tokenized Treasury Collateral Transaction
BNY said it expects to extend settlement hours for Federal Reserve-eligible securities and U.S. triparty transactions to European and Asian hours next year.
1 story
Standard Chartered adds RLUSD custody in Dubai
The Dubai custody is live for eligible clients; a planned LMAX collateral arrangement remains subject to documentation, testing and regulatory approvals.
2 stories
Jeonbuk Bank launches bitcoin-backed corporate loans in South Korea
The lender issues Korean won against bitcoin held by a registered crypto custodian and enforces repayment through a court-ordered collateral sale.
CFTC interim swap-definition rule takes effect immediately; event contracts face 30-day comment
The SEC separately proposed expanding fund cross trading to most fixed-income securities; comments run 60 days after Federal Register publication.
2 stories
OKX adds Circle, Ripple, Qube and SC Ventures as investors at $25bn pre-money
The exchange did not disclose the amount, and the round prices at the same $25 billion pre-money valuation ICE agreed in March.
Sui's Hashi prepares $500 million bitcoin lending launch
Anchorage Digital joins as a day-one partner for the network that lets holders pledge bitcoin without moving it off the Bitcoin ledger.
4 stories
Securitize to launch tokenized US stocks on Solana backed one-to-one by shares
Securitize Stocks will start with 12 companies and settle in USDC, with Apple and Nvidia named, according to The Block.
Deus X Capital ceases operations; CEO Tim Grant to lead AI venture TensorX
The crypto and fintech investor will formally unwind on Jan. 31, 2027, with CIO Stuart Connolly staying on and Morton family backers splitting into two new firms.
Standard Chartered plans Singapore crypto custody service
The service would cover crypto, stablecoins and tokenized assets and sit in the bank's financing and securities-services unit; no start date has been set.
Deus X Capital ceases operations; CEO Tim Grant to lead AI venture TensorX
The crypto and fintech investor will formally unwind on Jan. 31, 2027, with chief investment officer Stuart Connolly staying on and its Morton family backers splitting into two new firms.
1 story
UK hands six banks pricing and placement in digital gilt pilot on HSBC Orion
DIGIT, a short-dated bond outside the main debt programme, tests whether primary dealers keep their role onchain.
3 stories
Circle and SC Ventures join OKX financing at a $25 billion valuation
Ripple and hedge fund QRT also joined the round, an extension of the March financing that NYSE owner ICE backed; the amount raised was not disclosed.
Solana Foundation publishes open-source settlement standard tested in a Galaxy commercial paper deal
The code settles cash and assets in one on-chain transaction; whether a single JPMorgan-arranged trade becomes a template other institutions accept is the question.
Circle adds Aave to bitcoin-backed borrowing on its Mint platform
The second lending venue extends Mint's Morpho-based option, with borrowers still subject to third-party protocol liquidation rules.
4 stories
Cerebras objects to OKXICE plan to tokenize 63 U.S. stocks
The SEC exemption runs five years and gives issuers 30 days to object, putting Cerebras's refusal in the path of OKXICE's planned 24/7 stock venue.
Plume opens a tokenized vault holding Fidelity's actively managed bond ETF
The nBND vault adds credit and duration to a tokenized fixed-income shelf built on short-dated Treasury products.
Payward and Singapore Gulf Bank open 24/7 U.S. dollar settlement for institutional crypto clients
The service starts with U.S. dollar transactions for select clients in eligible Asian and Gulf jurisdictions.
Brazil's CSD BR keeps the official fund register while mirroring ownership on the XRP Ledger
CSD BR keeps registration, deposit and settlement for BTG Pactual's funds, with the XRP Ledger copy described as a second record rather than the legal one.
2 stories
SEC custody proposal would make state trust companies qualified custodians
Adviser self-custody would require proving expertise and the absence of any willing qualified custodian, while state-chartered trusts would become eligible to hold client digital assets.
Tether grants Utexo a license to issue USDT on Bitcoin, expected this month
Tether granted the 2025-founded startup a commercial license to issue USDT on Bitcoin using the USDT trademark.
2 stories
Dune finds equity tokens drive tokenized-asset trading while Treasury funds sit still
The analytics platform puts tokenized real-world assets at $34.5 billion and says the value of individual-stock token holdings grew ninefold in a year.
Lloyds and Visa settle $750,000 in USDC in a seven-day cross-border pilot
The payment moved from Jersey to the United States in under an hour, with Lloyds on Canton and Visa on a second blockchain the coverage does not name.
1 story
HSBC hedges HANetf bitcoin ETCs while readying Hong Kong dollar stablecoin
The bank is hedge counterparty on HANetf's sterling- and euro-hedged crypto ETCs and plans RedCoin for PayMe and its mobile app.
1 story
Blockchain.com seeks $500 million IPO at $4 billion to $6 billion valuation
The London-headquartered exchange, wallet and lending company aims to be public by the end of the year, Bloomberg reported.
1 story
With Peirce gone, a two-member SEC decides crypto rules by guidance
The staking carve-out can be unwritten, the tokenized-stock exemption is pending, and the Clarity Act's 49-50 failure has left the arguing to the agencies.
2 stories
Two business days is the exam stablecoins have to pass
The Fed's redemption deadline and reward presumption turn yield and liquidity into compliance variables, exposing a high-volume chain and handing bank-built corridors the standards.
Custody wins the tokenization back office
The CFTC's equivalence proof turns tokenized collateral into a compliance obligation, and the firms selling the proof and the rails are positioned to collect the $1.7 trillion collateral mobility pool.
1 story
Bitcoin ETFs booked a record day Washington had nothing to do with
Three issuers took nine-tenths of a $998.95 million day after the Senate lost cloture and the Fed raised rates, the clearest sign yet that bitcoin ETFs now clear on distribution, not legislation.
2 stories
The perpetual swap outlives the venue that wrote it
BitMEX's orderly runoff leaves crypto derivatives volume intact and moves the contest to venues that pair the perpetual swap with a custody answer institutions will pay for.
FTX's estate routed $75 million of ether to a market maker
The transfer to Wintermute is best read as estate mechanics, and the next distribution will show whether the trust keeps routing ether through market makers.