TD Cowen, a leading financial services and investment firm, has released a bullish forecast stating that tokenization could drive global on-chain capital to exceed $100 trillion within five years. According to the projection, the growth will be driven by a massive push toward real-world asset (RWA) tokenization, including securities and infrastructure.  According to Cowen analysts, the on-chain economy across tokenized assets, decentralized finance (DeFi), staking infrastructure, and on-chain liquidity is poised for accelerated growth. The firm believes that advancements in technology, regulation, and cross-border capital flows will unlock more demand for programmable, tradable financial products. Tokenization Could Be the Future of Investing The latest TD Cowen research highlights tokenization — the process of representing real-world assets like real estate, equities, and bonds on blockchain networks — as the primary potential driver. The analysts estimate that a meaningful portion of the global financial markets could gradually migrate to on-chain platforms as institutions adopt them for efficiency, transparency, and fractional access. The projection is another major highlight of how traditional capital might increasingly migrate onto blockchain rails over the coming years. One key driver is fractional ownership, which tokenization offers. For instance, tokenizing a real estate property allows the participation of many investors at lower thresholds. Combined with 24/7 settlement, lower frictions, and programmable blockchain finance, tokenized assets could attract capital currently locked in traditional or off-chain instruments. In addition, the forecast emphasizes the growing role of stablecoins, on-chain money markets, and investment-level digital securities as efficient bridges between traditional finance and decebtralized finance (DeFi). As these sectors mature, Cowen sees network effects scaling across lending, yield aggregation, and digital treasury management. What Tokenization Means For the Crypto Economy If on-chain capital truly reaches $100 trillion, the implications for finance, crypto, and regulation are profound. First, there could be a disruption of old chains, especially traditional intermediaries, such as custodians, clearinghouses, and custodial banks, who may find themselves disrupted as blockchain-native infrastructure gains popularity. Additionally, there could be a shift in regulatory frameworks, as borders, jurisdiction, taxation, and legal clarity would become critical. Regulators will need to adapt quickly to monitor cross-border token flows, custody rules, and compliance in a tokenized world. Multiple blockchains and standards would also compete for dominance, boosting on-chain economic value across the ecosystem. However, Cowen also notes that the $100T figure is less a precise prediction than a directional signal. At the end of the day, timing, macroeconomic conditions, user adoption, and regulatory clarity all remain crucial. Overall, TD Cowen’s forecast reiterates how tokenization is no longer an experimental move but a major strategic shift globally. If it becomes a reality, the movement of trillions of dollars onto blockchain could transform finance tremendously. For crypto builders, institutions, and regulators, the challenge lies in building to scale while prioritizing safety and continuous alignment to keep pace with the broader ecosystem ambition.

Brunno Huertas to Lead Tickmill’s Strategic Growth in Latin America Tickmill has announced the appointment of Brunno Huertas as its new Regional Manager for Latin America (LATAM), underscoring the broker’s long-term commitment to the region’s fast-growing trading markets. Based in Limassol, Huertas will oversee the company’s regional growth strategy, focusing on brand expansion, client engagement, and the development of Introducing Broker (IB) partnerships across both Spanish- and Portuguese-speaking countries. With more than 15 years of experience in financial markets, Huertas has played a pivotal role in building Tickmill’s footprint across South America. His new mandate expands this focus to the entire LATAM region, consolidating Tickmill’s position as a transparent and reliable broker serving an increasingly active trader base. “Latin America offers enormous potential, and our vision is to strengthen Tickmill’s presence by building strong relationships with clients and partners,” said Brunno Huertas. “Expanding our IB network and creating a trusted brand will drive sustainable growth for the region’s trading community.” Investor Takeaway Tickmill’s appointment of Brunno Huertas marks a renewed push into Latin America — a fast-emerging market for forex and CFD trading with rising retail participation. Regional Priorities: Strengthening Relationships and Market Reach Under Huertas’ leadership, Tickmill aims to deepen its regional presence through targeted initiatives that reinforce trust, accessibility, and education. His priorities include: Expanding the IB network: Providing tailored support, transparent commission structures, and localized partner engagement. Strengthening brand visibility: Launching local marketing initiatives to build awareness and trust across LATAM markets. Enhancing client relationships: Delivering client-focused services through transparency and responsiveness. Exploring new markets: Targeting expansion in Argentina, Mexico, Colombia, Peru, and Chile while consolidating existing operations in key LATAM hubs. Tickmill views the region as a long-term growth driver for the brokerage industry. With a growing population of retail traders and IB networks, Latin America offers significant potential for firms that can deliver reliable execution, local support, and competitive trading conditions. Tickmill’s Offerings: Combining Global Standards with Local Insight As part of its broader regional strategy, Tickmill will continue offering a wide range of multi-asset trading solutions. The broker provides access to Forex, CFDs on stock indices, commodities, bonds, and cryptocurrencies, all backed by fast execution, tight spreads, and access to platforms like MetaTrader 4, MetaTrader 5, and TradingView. Complementing its trading suite, Tickmill also provides: Tailored IB and partnership programs with transparent commissions and dedicated regional management. Localized client services featuring multilingual support and payment methods tailored to LATAM markets. Strict regulatory compliance and fund security to ensure confidence and stability for traders and partners alike. Education remains a cornerstone of Tickmill’s global strategy. In LATAM, the broker continues to invest in trader development by offering educational resources in Spanish and Portuguese, strengthening trader confidence through accessible content and market insights. Investor Takeaway By pairing localized expertise with global infrastructure, Tickmill aims to solidify its reputation as a broker that delivers transparency, education, and growth for LATAM traders. Looking Ahead: A Global Broker with a Regional Focus Tickmill’s appointment of Huertas highlights its focus on sustainable expansion built on long-term relationships rather than short-term market entry. His leadership is expected to bridge cultural and linguistic diversity within LATAM’s dynamic trading community while fostering local partnerships that align with Tickmill’s global values of transparency, integrity, and innovation. Huertas will represent Tickmill as a guest speaker at the Finance Magnates London Summit in November, joining the panel discussion “Educators, IBs and Regional Growth Drivers.” His participation will further highlight Tickmill’s perspective on education and partnership as key growth catalysts in emerging markets. As the broker continues to grow globally, the LATAM region stands out as a strategic frontier — one where trust, local insight, and technology-driven service will define the next chapter of Tickmill’s success story.

BitGo, the leading digital asset infrastructure firm, has entered into a strategic partnership with StableX Technologies, Inc. (Nasdaq: SBLX), a publicly traded company specializing in stablecoin assets and digital finance infrastructure. The collaboration will see BitGo Trust Company serve as the institutional-grade custodian for StableX’s digital asset holdings, while BitGo’s affiliated trading platforms will facilitate StableX’s planned acquisitions and asset diversification strategy. Securing StableX’s Expanding Digital Asset Treasury Under the agreement, BitGo will provide regulated custody, liquidity, and execution services to help StableX manage its growing digital asset portfolio. BitGo’s infrastructure — which includes cold storage custody, institutional wallets, and integrated trading solutions — will support StableX’s goal of purchasing $100 million worth of crypto tokens connected to the rapidly expanding stablecoin sector. Mike Belshe, Co-Founder and CEO of BitGo, said the partnership underscores the growing sophistication of digital asset treasury management among institutional participants: “Digital asset treasury companies are expanding into increasingly diverse asset allocations. BitGo is excited to provide the infrastructure that is designed to keep forward-looking digital asset strategies, like StableX’s, safe and compliant.” The move comes as more publicly listed companies and institutional investors explore exposure to stablecoin-related assets and decentralized finance (DeFi) opportunities — an area where secure custody and regulatory compliance are critical. Building Institutional Confidence in Stablecoin Investment Joshua Silverman, Executive Chairman of StableX, said that BitGo’s reputation as a trusted, regulated custodian made it the natural choice for the firm’s next phase of expansion: “BitGo was the clear choice because it supports our focus on solid financial management and pioneering innovation. By using a regulated, institutional-grade custodian, we’re not only improving our risk management but also positioning ourselves to responsibly leverage new opportunities in the crypto economy. This is a critical step in creating sustainable, long-term value for our shareholders.” The partnership allows StableX to enhance the security of its treasury operations while gaining direct access to BitGo’s over-the-counter (OTC) trading desk — offering deep market liquidity for stablecoin-linked and broader digital assets. This integration also supports diversification into DeFi-oriented tokens, improving capital efficiency and aligning treasury operations with market growth areas in stablecoin infrastructure and yield generation. Enhancing Risk Management and Governance The collaboration between the two firms reflects a shared commitment to compliance, transparency, and institutional governance. BitGo’s status as a regulated trust company — with licenses in multiple jurisdictions — ensures that StableX’s digital holdings are maintained within a robust legal and operational framework. For StableX, the move represents a strategic effort to professionalize its balance sheet and risk management approach in a rapidly evolving regulatory landscape. With the crypto treasury segment attracting increasing scrutiny from investors and regulators, this partnership sets a precedent for responsible asset management practices among publicly listed crypto companies. Driving Innovation Across the Stablecoin Ecosystem Stablecoins have become one of the fastest-growing segments in digital finance, with use cases spanning payments, remittances, and DeFi liquidity provision. StableX has positioned itself at the forefront of this trend by focusing on acquisition and development of stablecoin infrastructure and related technologies. The partnership with BitGo enables the company to advance its mission of building sustainable, compliant financial solutions centered on stable-value digital assets. By combining BitGo’s security and settlement infrastructure with StableX’s acquisition strategy, the two firms aim to set new benchmarks for institutional-grade management of digital assets — an area still underdeveloped in many parts of the crypto ecosystem. Takeaway BitGo’s partnership with StableX signals a broader institutional shift toward structured, compliant digital asset treasury management. As StableX accelerates its expansion into stablecoin-related investments, BitGo’s regulated custody and trading infrastructure will anchor the company’s efforts to balance innovation with security — setting a strong example for publicly listed firms entering the digital finance space.

The European Securities and Markets Authority (ESMA) has set out the European Common Enforcement Priorities (ECEP) for 2025, sharpening attention on how listed issuers connect financial and sustainability disclosures. The regulator’s focus points to three pressure fronts for preparers and auditors: the portrayal of geopolitical uncertainty in IFRS financial statements, the discipline of segment reporting, and the robustness of materiality determinations and structure under the European Sustainability Reporting Standards (ESRS). ESMA also flags persistent digital reporting errors in ESEF, particularly within statements of cash flows. European Common Enforcement Priorities For 2025 ESMA’s 2025 priorities ask issuers to explain clearly how geopolitical risks and broader uncertainties affect performance, cash flows, and financial position, and to ensure that these narratives are consistent across the management report, financial statements, and sustainability disclosures. Investors are expected to see more decision-useful analysis of sensitivities, assumptions, and transmission channels from macro and policy shocks into company-specific outcomes. Boilerplate language that ignores sector-specific exposures will attract scrutiny. Segment reporting also features prominently. ESMA emphasizes that issuers must present segments that faithfully reflect how management monitors performance, allocates resources, and assesses risk. Enforcement will concentrate on internal consistency between reported segments, alternative performance measures, and board-level reporting, as well as on transparent reconciliations and meaningful disclosures of major customers, geographic risk, and the economic rationale for any changes to segments. Connectivity across the report is a recurring theme. ESMA expects coherent links between IFRS numbers, sustainability claims, and digital tags, so that users can navigate from risk narratives to quantified impacts and back. Where companies discuss climate, supply-chain, or geopolitical headwinds in sustainability statements, ESMA will look for corresponding reflections in impairment tests, provisions, useful lives, and other IFRS estimates that would reasonably be affected. Sustainability Statements: Materiality And Structure On sustainability reporting, ESMA directs issuers to strengthen double materiality assessments under ESRS Set 1, explaining both the process and outcomes that determine what is reported and why. Companies should describe how they identify impacts, risks, and opportunities (IROs), how stakeholders are engaged, which thresholds are applied, and how material topics translate into metrics, targets, and action plans. The regulator wants users to see a defensible chain from methodology to disclosed content, not a perfunctory checklist. ESMA also points to the scope and structure of sustainability statements. Issuers should organize disclosures to reflect clear topic boundaries, avoid duplication, and ensure that cross-references are precise and accessible. Where companies rely on cross-referencing to other sections or documents, ESMA expects a navigation path that is complete, stable, and free of dead links, with the same level of assurance and governance as information embedded in the primary sustainability section. Consistency over time is another priority. ESMA expects issuers to disclose methodological changes, restatements, and data limitations with enough granularity for users to understand trend integrity. Where estimation uncertainty is high—common in value-chain data—companies should quantify ranges where feasible and explain remediation plans to enhance data quality in future periods. IFRS Focus: Geopolitical Risks And Segment Reporting In IFRS financial statements, ESMA will examine whether geopolitical developments—such as trade restrictions, tariffs, sanctions, or commodity disruptions—are appropriately reflected in revenue recognition, inventory valuation, impairment of non-financial assets, and expected credit losses. Preparers should ensure that significant judgments and sources of estimation uncertainty are updated, specific, and aligned with observed market conditions, rather than carried forward from prior periods without reconsideration. For segment reporting under IFRS 8, issuers should confirm that reported operating segments match the internal reporting reviewed by the chief operating decision maker, with reconciling items that are transparent and stable. ESMA will look closely at sudden changes to segment definitions, aggregation criteria, or performance measures, particularly where such changes have the effect of obscuring underperformance. Disaggregation should be sufficient to illuminate differing risk and return profiles. Disclosures around major customers, geographic concentration, and sensitivity to supply-chain or logistics constraints should be revisited in light of current realities. ESMA expects entities to link segment-level narratives with quantitative indicators—margins, capex, headcount, or working capital dynamics—so users can understand how shocks propagate differently across segments and what management is doing in response. ESEF Digital Reporting: Cash Flow Errors ESMA highlights recurring ESEF tagging problems, with a particular concentration of errors in the statement of cash flows. Common issues include incorrect signs and summation relationships, misuse of extension elements where taxonomy concepts exist, and inconsistent tagging between the consolidated financial statements and ESEF instance documents. These errors impair comparability and can distort automated analysis relied upon by investors and data vendors. Issuers are expected to strengthen pre-filing controls, including automated validation against the latest ESEF taxonomy, review of calculation linkbases, and reconciliation procedures that tie tagged values back to audited figures. ESMA encourages companies to involve both finance and IT functions in end-to-end dry runs and to preserve robust documentation that demonstrates how tagging decisions were made and reviewed. Where filers use extensions, ESMA expects careful anchoring to the closest standard elements and a clear justification for why extensions are necessary. Entities should minimize extensions to preserve comparability and should periodically reassess whether evolving taxonomy updates now cover previously extended concepts, thereby allowing a migration back to base taxonomy terms. What Issuers, Auditors, Supervisors Should Do Next Issuers should initiate a coordinated workplan across finance, sustainability, investor relations, internal audit, and IT to map the 2025 priorities to existing disclosures, controls, and systems. Practical steps include revisiting risk registers and sensitivities, refreshing segment reporting governance, documenting the double materiality methodology, and testing ESEF tagging with a focus on cash flow statements. Clear ownership, timelines, and board-level oversight will be essential to avoid last-minute remediation. Auditors should align their risk assessment and materiality judgments with ESMA’s focus areas, ensuring that significant judgments in IFRS and double materiality processes under ESRS receive robust challenge and evidence. Audit teams may need to deepen expertise in sustainability data processes and digital reporting controls, particularly where reliance on third-party or value-chain data introduces higher risk of error or bias. Supervisory bodies and audit committees should emphasize connectivity—pressing management to demonstrate how sustainability risks and opportunities inform financial statement judgments and how ESEF tagging faithfully mirrors audited disclosures. They should also monitor remediation of known digital reporting issues and ensure that control improvements are embedded, tested, and repeatable rather than one-off fixes. Takeaway ESMA’s 2025 agenda moves from principles to practice: articulate how shocks translate into numbers, reveal how the business is actually managed through segment reporting, and show your workings on sustainability materiality. The connective tissue between narrative, quantification, and digital tagging matters as much as the individual parts. Users expect to follow a consistent thread from risks to metrics to cash flows without contradictions. For preparers, the biggest wins will come from tightening governance around judgments, elevating the transparency of methodologies, and building durable data pipelines that serve both IFRS and ESRS needs. For auditors and supervisors, the challenge is to encourage incisive, entity-specific disclosures while resisting the drift back toward generic templates. Credibility rests on specificity, comparability, and internal consistency. Ahead of the 2025 reporting season, early action is the best risk mitigant. Issuers that invest now in double materiality discipline, segment transparency, and ESEF data quality will reduce enforcement risk, improve investor trust, and shorten the feedback loop from markets to management decisions—exactly what ESMA is signaling it wants to see.

ODDO BHF, one of France’s leading private banks, has officially entered the crypto space by launching a Euro-backed stablecoin named EUROD. According to reports, the bank announced the token’s deployment this week, marking a major step for a traditional financial institution bridging into digital assets.  The move comes at a time when legacy banks are looking into issuing regulated stablecoins to compete in the digitized payments and tokenization space. With EUROD, ODDO BHF aims to provide clients with frictionless Euro liquidity on-chain, enabling faster settlement, reduced counterparty risk, and alignment with evolving DeFi and institutional use cases. ODDO BHF’s EUROD: A Euro Stablecoin with Financial Roots Like popular stablecoins such as Tether (USDT) and Circle’s USDC, the EUROD stablecoin is pegged 1:1 to the Euro and backed by reserves held in regulated accounts. This provides users with confidence in its stability and operational mechanics.  In its announcement, ODDO BHF emphasized compliance, transparency, and integration with existing banking infrastructure as core features. However, unlike the aforementioned stablecoins, which are crypto-native, EUROD comes from a banking institution with decades of financial operations and regulatory experience. This gives it some advantages that crypto stablecoins can’t offer.  For example, ODDO BHF already has established custody, liquidity, and compliance capabilities that could smoothen its integration into traditional finance. The bank also plans to offer EUROD to its existing clients and institutional partners, allowing them to use the stablecoin for cross-border payments, tokenized assets, and platform settlement.  Some regulatory filings suggest ODDO BHF is positioning EUROD as a bridge between traditional bank deposits and the blockchain economy. Built to comply with the EU’s Markets in Crypto-Assets (MiCA) regulatory framework, the stablecoin holds great promise — thanks to its strong financial roots and crypto positioning. EUROD Represents Europe’s Push Toward On-Chain Finance ODDO BHF’s entry into the crypto ecosystem aligns with a broader continental shift toward tokenized money and blockchain-based banking infrastructure. France, in particular, has been at the forefront of digital asset innovation, with several major financial institutions, including Societe Generale (SG-FORGE) and BNP Paribas, experimenting with their own Euro-denominated tokens for institutional use. Earlier this year, nine European banking giants, including Danske Bank, DekaBank, and UniCredit, collaborated to launch a joint Euro-pegged stablecoin. ODDO BHF is following in the same footsteps to expand the Euro’s adoption in unconventional markets. However, ODDO BHF’s initiative differs in scope and accessibility. By launching a publicly available, fully collateralized Euro stablecoin, the bank positions EUROD as a potential cornerstone of Europe’s on-chain economy, offering the same credibility as its long-established banking operations. EUROD will be listed on Madrid-based crypto platform Bit2Me, which is backed by major institutions including telecom giant Telefonica. Analysts believe the move could help the Euro gain a stronger foothold in the global digital currency landscape, where the U.S. dollar remains dominant, and compete with top tokens like USDT and USDC. 

Stripe has officially applied for a U.S. national bank trust charter with the Office of the Comptroller of the Currency (OCC), marking a significant step toward expanding its footprint in the stablecoin and digital asset infrastructure market. The application was submitted through Bridge, Stripe’s stablecoin-focused subsidiary, which aims to operate as a federally regulated trust institution if approved. Bridge seeks OCC charter to strengthen stablecoin infrastructure Bridge, acquired by Stripe in a move to bolster its digital payments ecosystem, is positioning itself at the forefront of the stablecoin economy. By applying for a national bank trust charter, Bridge would gain the authority to provide custody, reserves management, and stablecoin issuance under direct federal oversight. This charter would enable Bridge to offer services comparable to those of federally chartered digital asset custodians such as Anchorage Digital Bank and Protego Trust Bank. If granted, the charter would allow Stripe to integrate stablecoin operations more seamlessly into its global payments network. The OCC’s approval would effectively permit Bridge to handle stablecoin reserves with greater transparency and regulatory compliance, paving the way for increased institutional confidence in Stripe’s blockchain-based financial products. Stripe’s strategic move reflects a broader shift in the fintech landscape, where companies are increasingly seeking federal charters to strengthen compliance and establish long-term credibility. The U.S. government has been intensifying its focus on stablecoin regulation, with lawmakers calling for issuers to operate under robust, federally supervised frameworks. By securing a national trust charter, Stripe could preempt future regulatory hurdles while positioning itself as a reliable and compliant provider in the digital asset market. Analysts suggest that this development could give Stripe a competitive advantage against peers like Circle and Paxos, both of which have also sought national charters to issue and manage stablecoins in a compliant manner. The charter could also serve as a key differentiator for Stripe’s enterprise clients, enabling it to offer blockchain-based payment solutions with federal-level safeguards. Impact on fintech innovation and U.S. stablecoin regulation Industry experts view Stripe’s application as a milestone in the convergence of traditional payments and decentralized finance (DeFi). With a national trust charter, Stripe’s Bridge could facilitate the issuance of regulated stablecoins used for cross-border payments, merchant settlements, and on-chain financial services. The move underscores the growing recognition that stablecoins could play a critical role in the next generation of global payments infrastructure. The OCC has not yet issued a comment or provided a review timeline for Stripe’s application. However, the filing highlights Stripe’s proactive approach to regulatory engagement and its ambition to lead in compliant financial innovation. If approved, Bridge could become one of the few federally chartered entities integrating stablecoin infrastructure with a mainstream payments network — setting a new precedent for how fintech firms bridge the gap between traditional finance and blockchain technology. This development also enhances Stripe’s positioning in search trends surrounding fintech regulation, stablecoin infrastructure, and digital asset compliance, reinforcing its image as a key innovator in the evolving global financial ecosystem.

Coinbase Global, one of the world’s leading cryptocurrency exchanges, has made a new investment in Indian crypto trading platform CoinDCX, valuing the company at $2.45 billion post-money. The move highlights Coinbase’s renewed confidence in India’s digital asset ecosystem and marks a major milestone for the country’s rapidly growing crypto sector. According to reports from Reuters and the Economic Times, the fresh funding round extends Coinbase’s earlier investments in CoinDCX rather than signaling a full acquisition. Coinbase first backed the Indian exchange in 2020 and participated in its 2022 funding round, which valued CoinDCX at approximately $2.15 billion. While the amount of the latest investment remains undisclosed, the deal is expected to close pending regulatory approval and other customary conditions. Strengthening Coinbase’s India expansion strategy The investment reinforces Coinbase’s long-term strategy to deepen its presence in India—a market with an estimated 100 million crypto users and one of the highest rates of digital asset adoption globally. Earlier in 2025, Coinbase registered with India’s Financial Intelligence Unit (FIU), enabling it to operate in compliance with the country’s anti-money laundering regulations and serve Indian retail investors directly. By investing further in CoinDCX, Coinbase aims to integrate itself into India’s fast-growing crypto ecosystem through collaboration with a trusted local partner. This approach could help the U.S.-based exchange navigate India’s evolving regulatory environment while supporting innovation and user education. For CoinDCX, the new capital will support its plans to scale operations, strengthen compliance mechanisms, and enhance its educational initiatives promoting safe crypto participation. The Mumbai-based exchange currently serves over 20 million users, offering access to more than 500 digital assets and over 200 trading pairs. Industry observers say the funding could help CoinDCX solidify its leadership position among Indian crypto exchanges. Navigating regulation and rebuilding trust after security challenges Despite the optimism surrounding Coinbase’s renewed investment, challenges remain for the Indian crypto sector. Unclear taxation rules and inconsistent policy guidance continue to weigh on exchange operations. However, Coinbase’s investment is seen as a strong vote of confidence in India’s maturing crypto market and CoinDCX’s regulatory resilience. CoinDCX has faced its share of challenges in recent months, including a $44 million treasury breach reported in mid-2025. While user funds were unaffected, the incident raised concerns about exchange security across the region. Since then, CoinDCX has reportedly strengthened its infrastructure and implemented advanced security and transparency measures to reassure users and regulators alike. The $2.45 billion valuation reflects growing optimism that India could become a global hub for blockchain innovation. Coinbase’s investment underscores a broader industry trend of global exchanges and institutional players seeking exposure to India’s massive crypto user base. Analysts note that the partnership may serve as a blueprint for future collaborations between international platforms and local exchanges. As regulatory frameworks continue to evolve, Coinbase’s latest move positions both companies at the forefront of India’s crypto adoption wave. The partnership reinforces CoinDCX’s role as a bridge between India’s domestic market and global liquidity, while strengthening Coinbase’s global expansion strategy across emerging markets. With both exchanges focusing on compliance, education, and secure trading experiences, Coinbase’s investment in CoinDCX marks a pivotal moment for India’s digital asset future—signaling that the world’s largest crypto players see long-term opportunity in the country’s growing blockchain economy.

Binance, the world’s largest cryptocurrency exchange by trading volume, has launched a comprehensive $400 million recovery program called the “Together Initiative.” The initiative is designed to rebuild market confidence and compensate users affected by recent volatility that caused widespread forced liquidations. The move marks one of Binance’s largest-ever compensation and stabilization efforts. Under the Together Initiative, Binance will allocate $300 million toward user compensation and an additional $100 million to support institutional liquidity. The plan comes after a sharp market correction between October 10 and 11, 2025, during which thousands of users experienced liquidation losses. Binance aims to restore trust in centralized trading infrastructure and demonstrate a commitment to protecting its global user base. User eligibility and compensation details According to Binance’s official announcement, compensation will be distributed in USDC or vouchers directly to affected users. Eligibility is based on specific criteria: users must have incurred forced-liquidation losses between October 10 and 11, with total losses exceeding $50 and representing at least 30% of their account’s net assets. The reference snapshot for calculations was taken on October 9, 2025. Depending on individual losses, voucher amounts will range between $4 and $6,000. Binance stated that the compensation process will be transparent and verifiable, with notifications sent to eligible users through official channels. The exchange also confirmed that appeals and clarifications will be handled via its support portal to prevent fraud or misinformation. This structure reflects Binance’s broader focus on reinforcing accountability and improving user protection following high-volatility events. The Together Initiative follows a week of market instability that saw rapid price swings and liquidation cascades across major crypto assets. Binance previously offered limited relief for users affected by technical issues and token depegging events, but this new plan significantly expands those measures. The company’s leadership described the initiative as a way to stand with the community and rebuild trust during challenging times. “Together Initiative is about showing users that we take responsibility and are willing to back it with real action,” a Binance spokesperson said. “Our goal is not only to address the past but to ensure a more resilient market environment for the future.” The $100 million institutional support component will focus on strengthening liquidity among market makers, trading partners, and ecosystem collaborators impacted by the volatility. Binance said these measures aim to maintain orderly market conditions and prevent liquidity shocks that can exacerbate price instability. Industry reaction and market implications Industry analysts have largely welcomed the Together Initiative, calling it a strong signal of leadership and accountability within the crypto sector. Analysts suggest the move could help mitigate reputational damage from the recent liquidation wave while reinforcing Binance’s dominance in the exchange landscape. Others see it as part of a growing trend among centralized exchanges to enhance transparency and user protection amid increasing regulatory scrutiny. The official Together Initiative announcement was published on October 14, 2025, and Binance has promised timely updates as the compensation process unfolds. For now, the exchange’s bold recovery package represents a strategic effort to restore confidence in the market and reassert its position as a stabilizing force in the crypto ecosystem.

The U.S. Department of Justice has unsealed an indictment charging Chen “Vincent” Zhi, the chairman of Cambodia-based Prince Group, with wire fraud and money-laundering conspiracy connected to one of the world’s largest forced-labor and crypto scam networks. The Eastern District of New York (EDNY) announced the indictment on October 14, 2025, unveiling a massive investigation that spans continents and billions in stolen funds. According to prosecutors, Zhi and his associates operated an elaborate network of compounds across Southeast Asia where victims were trafficked and forced to conduct online investment scams, commonly known as “pig-butchering” schemes. These scams lured unsuspecting individuals into fake cryptocurrency and trading platforms, resulting in devastating financial losses. Investigators estimate that more than $15 billion in digital assets were laundered through the network using shell companies and offshore crypto exchanges. Global coordination and record crypto seizure The EDNY’s announcement coincided with a global law enforcement operation involving agencies from the United States, United Kingdom, and several Southeast Asian countries. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) simultaneously imposed sanctions on Prince Group and several of its affiliates, effectively freezing their access to the international banking system. Officials confirmed the seizure of bitcoin wallets linked to the operation, representing one of the largest digital asset confiscations ever recorded. “This operation showcases the power of international cooperation in dismantling complex transnational crime,” said Breon Peace, U.S. Attorney for the Eastern District of New York. “Zhi and his network exploited victims on a massive scale, using human trafficking and technology to fuel one of the largest online fraud ecosystems we have ever encountered.” The investigation involved collaboration between the Federal Bureau of Investigation (FBI), Homeland Security Investigations (HSI), and international partners utilizing blockchain analytics to trace illicit crypto flows. Authorities believe the funds moved through dozens of exchanges and wallets before being converted into real estate and luxury assets across Asia. Human trafficking and financial exploitation Officials say many of the individuals working in these scam compounds were victims of human trafficking, coerced into criminal activity under threat of violence or confinement. The indictment highlights the intersection of financial crime, technology, and human rights abuses, a growing area of concern for regulators and global law enforcement. Prince Group, a sprawling conglomerate with interests in real estate, finance, and hospitality, has faced scrutiny in the past for opaque dealings and political connections across Cambodia and China. The company has not yet issued a statement regarding the indictment or the sanctions imposed. Zhi remains at large, and a global arrest warrant has been issued. The EDNY emphasized that this case marks a pivotal moment in efforts to curb international crypto-related fraud and forced-labor operations. Analysts suggest the case could prompt greater scrutiny of financial institutions and digital asset platforms operating in Southeast Asia. The indictment reinforces growing U.S. efforts to combat cross-border cybercrime and protect consumers from crypto investment fraud. With billions in illicit funds recovered and a prominent international figure facing charges, the EDNY’s case against Chen Zhi stands as a landmark moment in the global fight against digital financial exploitation.

Monad has officially launched its airdrop claim portal, marking a significant milestone ahead of its upcoming mainnet release. The portal went live on October 14, 2025, giving eligible users until November 3 to verify their eligibility and reserve MON tokens. This long-awaited airdrop has sparked strong anticipation across the crypto community, as Monad positions itself as a major contender in the next generation of high-performance blockchain ecosystems. Community participation and eligibility verification According to recent reports, more than 230,000 users are eligible to participate in the Monad airdrop, alongside 5,500 core community members who have contributed to the project’s early growth. The claim portal currently allows users to confirm eligibility and reserve tokens, though transfers and trading of MON tokens are not yet enabled. Monad’s approach prioritizes transparency and fairness, with the company employing Trusta AI’s Sybil detection technology to filter out fraudulent or duplicate accounts. This ensures that authentic contributors to the ecosystem receive priority in token distribution. While the team has not yet released specific details on the allocation formula, token amounts, or vesting schedules, insiders suggest that the full tokenomics breakdown will be revealed once the mainnet launch is finalized. Industry analysts view this phase as a critical prelude to Monad’s broader strategy to attract developers, liquidity providers, and early adopters to its ecosystem. Following the airdrop announcement, Monad has issued multiple warnings about fraudulent websites and phishing campaigns attempting to impersonate the project. The team cautioned users against rushing to claim tokens and emphasized that there is no urgency, as the claim window remains open for several weeks. Co-founders urged community members to verify URLs carefully and avoid sharing sensitive wallet information on unverified platforms. Reports of scam attempts have surfaced on Telegram and X (formerly Twitter), where fake airdrop links have circulated. Monad’s proactive security communication has been praised by users for helping protect new participants unfamiliar with the brand. These security reminders are crucial as the project continues to gain visibility and traction in the competitive blockchain landscape. Market impact and ecosystem outlook The opening of the airdrop portal represents more than just a distribution event—it signals the beginning of Monad’s transition toward a live mainnet environment. The project’s focus on performance, developer incentives, and fair token distribution could position it as one of the strongest Layer 1 blockchain launches of 2025. Analysts note that early user engagement through the airdrop may play a pivotal role in establishing network liquidity and participation ahead of the mainnet release. Community response has been overwhelmingly positive, with users sharing screenshots of successful eligibility verifications across social platforms. Many see the MON airdrop as an opportunity to become part of a promising ecosystem from its earliest phase. As the countdown to mainnet continues, attention will remain on Monad’s next major announcements—particularly the release of its tokenomics model, exchange listings, and roadmap for ecosystem expansion. With the airdrop now open, Monad has successfully captured the attention of both crypto veterans and newcomers, reinforcing its growing reputation as a project to watch in 2025.

Antalpha, a Hong Kong-based fintech firm specializing in blockchain finance, has made a significant move in the tokenized asset space with a $134 million purchase of Tether Gold (XAU₮). The transaction, completed through its Nasdaq-listed subsidiary Prestige Wealth—soon to be renamed Aurelion (NASDAQ: AURE)—marks one of the largest institutional acquisitions of tokenized gold to date. The deal, announced on October 14, 2025, is part of Antalpha’s “Reserve 2.0” initiative, an ambitious plan to integrate blockchain-based assets into traditional financial reserves. The company said the purchase will help establish Aurelion as Nasdaq’s first treasury backed by tokenized gold, setting a precedent for how digital assets can be incorporated into corporate finance. Strengthening ties with Tether The purchase comes amid Antalpha’s deepening collaboration with Tether, the issuer of USDT and Tether Gold. Aurelion reportedly bought the XAU₮ tokens at an average price of around $4,021 to $4,022 per ounce. This acquisition follows Aurelion’s recent $150 million financing round—comprising approximately $100 million in private investment in public equity (PIPE) and $50 million in debt funding. Antalpha contributed $43 million to the PIPE, securing a controlling voting stake in Aurelion and expanding its strategic influence. Under the terms of the agreement, Aurelion may lend unencumbered XAU₮ holdings to Antalpha as collateral. In exchange, Aurelion will receive a technology service fee while Antalpha assumes any credit or default risk tied to the assets. The structure underscores a growing trend among institutional investors to use tokenized real-world assets (RWAs) as flexible, on-chain collateral within financial ecosystems. Institutional adoption of tokenized gold gains momentum The deal also reflects Antalpha’s confidence in tokenized gold as a stable, transparent alternative to conventional reserve assets. Earlier this year, the firm and Tether reportedly explored raising up to $200 million to build a tokenized gold treasury, signaling strong institutional appetite for blockchain-integrated commodities. Tether Gold (XAU₮) represents digital ownership of physical gold stored in Switzerland, blending the time-tested value of gold with blockchain’s transparency and transferability. As the broader financial sector experiments with digital treasuries and tokenized collateral, the Antalpha–Tether partnership could serve as a model for how traditional finance and blockchain infrastructure converge. Analysts say the move positions Antalpha as a frontrunner in the tokenized reserve asset market, helping bridge the gap between traditional financial stability and decentralized asset liquidity. By embedding gold on-chain, the firm enhances its balance sheet resilience while tapping into a rapidly expanding sector projected to surpass $20 billion in tokenized RWAs by 2026. With this acquisition, Antalpha is not only hedging against market volatility but also signaling that tokenized real-world assets—especially gold—are poised to become core components of institutional portfolios in the next wave of blockchain finance.

Bridge Targets Federal Oversight via OCC Charter Bridge, the stablecoin infrastructure company owned by Stripe, has applied for a national bank trust charter with the U.S. Office of the Comptroller of the Currency (OCC), one of the country’s main federal banking regulators. If approved, the charter would allow Bridge to issue and manage regulated stablecoins under federal supervision, operating within a unified framework consistent with the GENIUS Act — the stablecoin legislation enacted earlier this year. The law established national standards for dollar-backed tokens and reserve disclosures. “We’ve long believed stablecoins will be a core, regulated financial building block. This regulatory infrastructure will enable us to tokenize trillions of dollars and make this future possible,” Bridge co-founder Zach Abrams wrote on X on Wednesday. Stripe first signaled its intent to seek OCC oversight two weeks ago. Investor Takeaway A federal trust charter would make Bridge one of the few U.S.-regulated stablecoin issuers, putting Stripe in direct competition with Circle and Paxos for institutional clients. Joining the Federal Stablecoin Race Bridge’s application follows a growing push by major fintech and crypto firms to operate under federal charters. Stablecoin issuers Circle (CRCL), Paxos, and Ripple have each sought similar approval to expand beyond state-by-state regulation. Anchorage Digital remains the only crypto-native company to have secured a federal banking charter, granted by the OCC in 2021. The move marks a new phase in Stripe’s reentry into crypto after years on the sidelines. The payments firm acquired Bridge for $1.1 billion last year, aiming to integrate stablecoin infrastructure into its global payments ecosystem. Since then, Stripe has accelerated efforts to offer digital asset services to merchants and developers, aligning with federal efforts to formalize stablecoin oversight. Stripe Expands Stablecoin Capabilities Bridge has become a centerpiece of Stripe’s strategy to link fiat payments with blockchain settlement. In June, Stripe partnered with Coinbase and Shopify to enable merchants to accept payments in Circle’s USDC stablecoin. Later, Stripe launched its Open Issuance platform, which helps companies create custom stablecoins using Bridge’s infrastructure. The company is also developing Tempo, a Layer 1 blockchain optimized for payment processing and settlement. Earlier this week, Bloomberg reported that Stripe is testing a new subscription service for recurring payments using stablecoins. If Bridge’s charter is approved, it could streamline these products under a single regulated entity, reducing compliance friction and enhancing trust among financial institutions and payment partners. Investor Takeaway Federal licensing could allow Stripe to extend stablecoin payments to its 3.5 million merchant clients, bridging traditional finance and blockchain settlements under one regulatory roof. What the OCC Review Means The OCC charter process typically takes several months and involves detailed scrutiny of compliance systems, reserve management, and risk frameworks. If approved, Bridge would join a small group of federally supervised entities authorized to issue and custody digital assets nationwide. The GENIUS Act has spurred a wave of charter applications as companies seek clarity amid a fragmented regulatory environment. For Stripe, whose payment infrastructure processes billions of dollars daily, an OCC license could provide a foundation for stablecoin-based settlement across U.S. and international markets.

Liquidnet is betting big on the booming options market. The agency broker has launched a U.S. equity-options business, hiring two seasoned traders to lead its high-touch and low-touch operations in a move that broadens its multi-asset execution network. Andrew Arnold joins as Senior Execution Trader for high-touch U.S. equity options after more than two decades in derivatives sales and trading across Credit Suisse, Cantor Fitzgerald, Baycrest, Tullett Prebon and GFI. Jason Lichten takes charge of low-touch electronic options trading, bringing over 25 years of experience from Wolverine Execution Services, RBC Capital Markets, BT Radianz and Merrill Lynch. Chris Blackburn, Global Head of Multi-Asset at Liquidnet, said the expansion reflects demand from institutional clients for seamless execution across asset classes. “Expanding into U.S. equity options is a logical next step in our multi-asset strategy. The market has seen sustained growth over the past several years and we see clear opportunities to deliver value to our Members by extending our execution expertise into this space,” he said. Arnold described the project as “a rare opportunity to build something new within an established global network,” noting that the options market is moving quickly toward higher standards of agency-driven execution. Lichten said the ongoing electronification of U.S. options trading “presents real opportunities for innovation,” adding that Liquidnet’s technology and global reach provide a strong base for developing advanced low-touch solutions. Founded in 1999 by Seth Merrin, Liquidnet built its reputation as one of the first dark-pool networks for institutional block trading. The firm now connects more than 1,000 institutional investors across over 50 markets worldwide. Its acquisition by TP ICAP Group in 2021 gave it deeper access to global liquidity and infrastructure, helping to fuel a broader multi-asset push into fixed income, listed derivatives and now equity options. The timing appears favorable. U.S. listed-options trading volumes have surged in recent years, driven by record institutional hedging activity and the proliferation of short-dated contracts. For brokers like Liquidnet, options represent not only a growth opportunity but also a way to serve clients seeking a unified platform across equities and derivatives. Still, competition in the space is fierce. Global banks and electronic brokers already dominate institutional options execution, offering sophisticated algorithms and high-speed connectivity. Liquidnet will have to rely on its longstanding reputation for discretion and quality block liquidity to stand out. The firm’s model—an agency broker with no proprietary trading—has long appealed to large investors seeking minimal conflicts of interest. Extending that model into options could resonate with asset managers who prefer transparent pricing and unbiased routing, especially as market structure becomes more fragmented. The move also comes as Liquidnet works to strengthen its internal controls and rebuild confidence with regulators. Earlier this year, the company agreed to pay a $5 million fine to the U.S. Securities and Exchange Commission over compliance failures linked to market-access supervision and the handling of client data. While the firm did not admit wrongdoing, it has since brought in an external consultant to review its systems. For TP ICAP, which remains the world’s largest interdealer broker, the push into options fits a wider strategy to diversify beyond voice broking into data, analytics and electronic markets. Liquidnet’s technology-led approach has become a cornerstone of that plan, helping TP ICAP reach institutional clients directly rather than through traditional dealer channels. If the build-out succeeds, Liquidnet could emerge as one of the few firms offering institutional investors a full agency-execution suite across equities, bonds and derivatives—all under a single infrastructure. But much will depend on how quickly Arnold and Lichten can translate their combined five decades of experience into tangible market share. For now, the company is entering a crowded field with confidence—and perhaps a touch of ambition reminiscent of its early days as a disruptor in equity block trading.

EURUSD currency pair can be expected to rise to the next resistance level 1.1655 (former support from the end of September which stopped the earlier impulse wave 1).   EURUSD reversed from support area Likely to rise to resistance level 1.1655 EURUSD currency pair recently reversed up from the support area set between the strong support level 1.1550 (which has been reversing the price from the end of August), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from July. The upward reversal from this support area formed the daily Japanese candlesticks reversal pattern Piercing Line – which follows the earlier Bullish which EURUSD currency pair formed near the same support area, as can be seen from the daily EURUSD chart below. Given the strength of the support level 1.1550 and the multi-month uptrend that can be seen on the daily charts, EURUSD currency pair can be expected to rise to the next resistance level 1.1655 (former support from the end of September which stopped the earlier impulse wave 1). The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

Ripple has launched a new offensive approach to decentralized finance (DeFi) security with a $200,000 bug bounty “Attackathon” in partnership with Immunefi. The campaign, which was recently announced, is aimed at discovering any vulnerabilities in Ripple’s upcoming XRP Ledger (XRPL)–based lending protocol called Blueprint before it goes live. During the contest, ethical hackers and security researchers worldwide are welcome to test the platform’s smart contracts and lending logic for potential security risks. Rewards will be issued based on the severity of discovered flaws, making it Ripple’s most aggressive pre-launch security program to date. Ripple Takes Proactive Approach to DeFi Security By collaborating with Immunefi, a leading Web3 bug bounty platform responsible for securing over $60 billion in user funds, Ripple aims to attract the best white-hat talent to its ecosystem. This will potentially strengthen its system and prevent security hacks that could lead to liquidity drain, governance manipulation, or smart contract failure. This is a commendable approach to DeFi security, especially at a time when security breaches are on the rise. In 2025 alone, there have been a series of multimillion-dollar exploits across major protocols, including the recent $1.8 million breach at Abracadabra. The Blueprint lending protocol is one of Ripple’s most ambitious entries into DeFi. It aims to enable lending and borrowing directly on the XRP Ledger, leveraging XRPL’s native capabilities for transaction speed and low fees. However, integrating crypto lending features also opens the protocol to new risk, making stress testing essential before public deployment. Ripple creating a proactive approach sends a strong message to investors and developers that security is not an afterthought. By launching the Attackathon before Blueprint goes live, Ripple is taking steps to avoid the costly mistakes that have plagued many DeFi protocols in the past. Immunefi and Ripple Set a New Security Benchmark Ripple’s Attackathon begins later in October on Immunefi’s platform, with final reports and payouts expected before Blueprint’s public rollout. The $200K Attackathon is more than a marketing gesture. It represents a broader industry shift toward incentivized, transparent testing as a standard for responsible DeFi launches.  With over $1 billion lost to exploits in 2025 alone, the need for such initiatives cannot be overestimated. If successful, the campaign could position Blueprint as a model for secure DeFi protocol development and establish Ripple as a frontrunner in responsible, secure innovation. For users and investors, it’s a reminder that while DeFi’s potential is vast, trust must be earned through transparency and rigorous security. Ultimately, the XRP community and the wider DeFi sector will be watching closely to see whether the company’s bet on security-first development sets a new standard for the industry, and more companies could adopt a similar approach in their development roadmaps.

Brazil’s fintech heavyweight PicPay is preparing another run at a US stock market debut, with plans to raise up to $500 million through an initial public offering that could take place later this year. The company, one of Latin America’s most downloaded digital banking apps, has hired Citigroup, Royal Bank of Canada, and Bank of America to arrange the deal, signaling a renewed confidence after shelving its earlier attempt in 2021. Back then, PicPay sought an $8 billion valuation before pulling the plug as global markets soured on high-growth tech firms. This time, insiders describe the approach as quieter and more measured. The listing could still face procedural delays, however, as a partial US government shutdown has slowed operations at the Securities and Exchange Commission. Even so, recent guidance from the regulator has kept the window open for IPOs in the coming months. Profits and product reach fuel renewed confidence PicPay’s comeback bid rests on sturdier financial ground than its previous effort. In the first half of 2025, the company reported a profit of 208.4 million reais on 4.5 billion reais in revenue—a sharp improvement for a firm once known for its breakneck expansion and heavy spending on customer acquisition. The São Paulo-based platform has evolved into a one-stop shop for financial services, spanning digital wallets, credit cards, personal loans, and investment products. Its “super app” model allows users to send payments, shop online, and invest without leaving the app—a blend of convenience and social functionality that has made it a staple among younger Brazilians. PicPay’s controlling shareholder, J&F Investimentos—the holding company of the billionaire Batista family—adds another layer of heft. The group’s backing provides both capital strength and a level of institutional credibility that could reassure investors wary of volatility in emerging-market tech. Latin America’s fintech moment The planned IPO comes amid a fresh surge of investor interest in Latin America’s digital finance scene. A decade ago, Brazil’s banking landscape was dominated by a handful of brick-and-mortar lenders. Now, a wave of mobile-first challengers has upended that structure, pushing innovation and financial inclusion at an unprecedented pace. Nubank, PagSeguro, and StoneCo have already carved out paths to New York listings, collectively drawing billions from investors eager to bet on the region’s shift toward cashless economies. PicPay’s return to the IPO arena would add another heavyweight to that roster, highlighting the sector’s durability despite global economic uncertainty. The proceeds from a successful offering could accelerate PicPay’s push into new markets and fund additional lending operations, while bolstering its investment and e-commerce capabilities. Beyond raising capital, the company sees a US listing as a gateway to global recognition—an opportunity to stand shoulder to shoulder with the region’s top fintech players in front of Wall Street’s most influential investors. While market conditions remain unpredictable, PicPay’s renewed pursuit of an IPO suggests confidence that the fintech story in Latin America still has room to run—and that investors are ready to listen again.

Regulatory Green Light from Central Bank Wise has received approval from the Central Bank of the United Arab Emirates (CBUAE) to offer its money transfer and payment services in the country, paving the way for the fintech to expand into one of the Middle East’s key financial hubs. The CBUAE granted Wise two licences — Stored Value Facilities and Retail Payment Services (Category 2) — allowing the London-listed firm to launch products such as Wise Account and Wise Business for customers in the UAE. The services enable users to send, receive and manage money across borders at lower costs and with greater transparency than traditional banking channels. Wise said the approvals represent an important step toward bringing its full suite of personal and business tools to the market. The company plans to begin onboarding UAE-based customers once final operational requirements are met. Investor Takeaway The UAE licence gives Wise access to one of the world’s fastest-growing remittance markets and strengthens its push into regulated payment corridors across the Gulf. Building a Global Licensing Network Wise said the approvals expand its international regulatory footprint and align with its long-term plan to offer faster, cheaper cross-border money movement through local licensing rather than partnerships. The UAE’s diverse, expatriate-heavy population provides a natural growth market for Wise’s multi-currency products. Through the new licences, Wise will be able to operate as both a digital wallet provider and a retail payment processor, giving residents and businesses access to international money management tools that operate within the CBUAE’s consumer protection framework. The move also follows Wise’s broader strategy of securing domestic licences in major remittance markets, such as India, Singapore and Brazil, rather than relying solely on correspondent networks. Product Rollouts and Partnerships Earlier this month, Wise upgraded customer accounts in Brazil to include Pix key functionality, allowing users to fund and convert money directly through the Brazilian central bank’s instant payment network. Since launching its account in Brazil, adding funds through Pix has become one of the most-used features among customers, according to company officials. In August, Upwork named Wise Platform as its new infrastructure partner to handle cross-border payouts for freelancers. The partnership enables faster transfers to local bank accounts in parts of South America, Asia-Pacific and Europe through Wise’s “Direct to Local Bank” feature. The collaboration reflects Wise’s growing role as a backend provider for global payment platforms. UAE as a Regional Payments Hub The CBUAE has stepped up efforts to modernize payment infrastructure and attract fintech players seeking to operate under a regulated regime. The UAE hosts a large expatriate workforce that remits billions of dollars annually, making it one of the world’s biggest remittance corridors alongside India, Saudi Arabia and the United States. Wise’s entry into the UAE adds another major market to its global presence, which already spans more than 160 countries. The company processed over £120 billion in cross-border payments in 2024, according to its latest annual report. Industry analysts say that operating under a local licence could help Wise win market share from incumbents such as Western Union and MoneyGram by offering faster settlement and lower fees. Investor Takeaway Wise’s UAE launch strengthens its competitive position in global remittances, reinforcing its model of building local compliance and infrastructure instead of outsourcing payments.

Analysts at Bernstein Research have made a bold prediction that the USD Coin (USDC) issuance could triple by the end of 2027. According to them, this will cause Circle’s flagship stablecoin to command one-third of the global stablecoin market. The forecast reflects the firm’s confidence in the token’s resilience, infrastructure, and regulatory positioning in a highly competitive and expanding stablecoin sector.  The projection arrives at a time when demand for stablecoins is surging globally, particularly in regions where cross-border payments, decentralized finance (DeFi), and real-world tokenization are gaining traction. According to reports, Bernstein’s analysts believe that USDC’s underlying architecture, market pedigree, and institutional adoption give it a plausible path to displace or outgrow many rival stablecoins, including Tether (USDT). Institutions Are Bullish on USDC Despite Tether’s Competition While Bernstein’s USDC projection is optimistic, the company’s analysts note that institutional confidence in USDC remains a major boost for the stablecoin. Unlike most rivals, USD Coin operates under U.S. oversight with monthly reserve attestations and full backing by cash and short-term Treasuries. Additionally, the firm expects Circle to benefit from the global push toward regulated stablecoin frameworks, especially in the U.S., Europe, and Asia. With more banks, fintechs, and asset managers experimenting with tokenized deposits, USDC’s transparent structure could make it the preferred bridge between fiat and blockchain economies. Bernstein also emphasized that monetary policy shifts, including potential U.S. rate cuts between 2026 and 2027, may have a limited downside impact on USDC’s institutional demand. According to analysts, the coin’s use cases in settlements and DeFi will sustain its momentum in adoption.  The report arrives amid a broader wave of institutional confidence in blockchain assets. Earlier this month, State Street projected that institutional exposure to digital assets could double by 2028, driven largely by tokenization and stablecoin usage. If the forecast is anything to go by, USDC’s total circulation could surpass $150 billion by 2027, up from roughly $50 billion today. That would place it in direct competition with Tether (USDT), which still dominates the market but faces ongoing regulatory scrutiny over its reserves.  USDC Adoption Could Turn Stablecoin Regulation Around  Currently, stablecoins are legal in countries like the U.S., following the GENIUS Act. In Europe, new MiCA regulations have paved the way for licensed issuers, while in Asia, Singapore and Hong Kong have introduced frameworks to attract regulated stablecoin activity.  Circle has already applied for and obtained several approvals in these regions, setting it apart from competitors with less transparent operations. However, some policymakers globally still treat stablecoins as speculative crypto products. With USDC’s potential adoption over the coming years, more regulators would potentially embrace it for its various use cases and expand the global stablecoin laws.  Still, competition from established stablecoins like USDT and bank-issued digital tokens could slow Circle’s dominance and potential one-third market share. 

In the finance space, reserves are funds or assets held by an institution to support its liabilities. It also refers to the money set aside to ensure it can meet redemptions, withdrawals, or obligations. Reserves are safety nets that assure investors or customers that their funds are safe and can be accessed when needed.  A fully backed reserve takes this idea further. It means that every unit of value, like a digital token, bank deposit, or stablecoin, is supported by an equivalent amount of real assets. The concept of fully backed reserves represents the highest standard of financial banking, where every deposit is supported by an equivalent real-world asset.  In this article, you’ll learn how fully backed reserves work and why they play an essential role in today’s economy.  Key Takeaways Fully backed reserves guarantee that every issued deposit or token is completely supported by real, verifiable assets.  This model reduces insolvency risks and prevents panic withdrawals because all funds are fully accessible. They create trust and stability by ensuring value remains constant even during market uncertainty or changes. While fully backed reserves come with high operational costs, they promote security, credibility, and financial transparency. Public reporting and transparent audits boost user confidence and make regulation easier to achieve and maintain.  Understanding What “Fully Backed” Really Means? The term “fully backed” means that each unit of value issued by a digital asset provider or financial institution is supported by verifiable, tangible assets of equal value. Therefore, for every $1 in circulation, there’s $1 in reserve somewhere. It could be in the form of government securities, cash, or other low-risk assets.  If holders of that token or currency decide to redeem their funds, this approach ensures that the issuer has enough backing to cover every claim. Hence, fully backed reserves are usually described as a “one-to-one” model because the amount issued equals the amount held.  Benefits of Fully Backed Reserves Fully backed reserves have many solid advantages that make financial systems trustworthy and safer.  1. Trust and transparency With fully backed reserves, users can see that their money or tokens are backed by real assets. This assurance builds confidence because there’s no hidden risk. What you own has actual value behind it. For instance, if a stablecoin company claims to have $500 million in reserves for $500 million worth of coins, this can be verified through public reports or audits. This transparency encourages people to trust the company and continue using its services.  2. Confidence and stability in value Since every unit is supported by a real asset, the value of the deposit or token is stable even when the market changes. This feature is very critical in crypto, where price volatility can scare users away. Fully backed reserves offer a sense of predictability and security that users appreciate.  3. Reduced risk of insolvency In traditional banking, insolvency or “bank run” occurs when several people try to withdraw their money at once, and the bank doesn’t have enough to pay everyone. Fully backed reserves prevent this from happening because all the funds are available. If everyone decides to redeem their holdings at once, it’s possible because the assets are 100% available.  4. Stronger regulatory confidence Financial regulators prefer systems that can be easily audited and transparent for all to see. Fully backed reserves meet that standard because each deposit or token is directly connected to a verifiable asset. Hence, companies can easily follow laws, gain licenses, and work with governments or banks. It also reassures the public that the system is well managed.  5. Enhanced long-term credibility A financial platform or company that uses fully backed reserves earns a reputation for responsibility and honesty. This reputation attracts more partnerships, users, and investors because people stay with systems they can trust.  Limitations and Challenges of Fully Backed Reserves While they sound ideal, fully backed reserves have real challenges, making them challenging to maintain in practice.  1. High operating costs It is costly to maintain a fully backed reserve system because the company must keep enough assets or money to cover every deposit or token in circulation. Hence, the business can’t use the funds for profit-making activities like investments or loans. Instead, the money stays in reserve but does not earn anything.  2. Inefficient use of capital Since all the funds must stay in reserve, the capital isn’t working actively to produce more value. In fractional systems, a chunk of reserves can be lent out to support loans and revive the economy. Fully backed systems lack that flexibility, making them less efficient from a financial perspective.  3. Heavy dependence on audits People’s trust in fully backed reserves depends fully on reliable and regular audits. If the audits are inaccurate, delayed, and not publicly available, confidence can quickly disappear. In the crypto space, some companies have claimed full backing but failed to prove it. Therefore, the accuracy and honesty of audits are critical.  4. Accessibility and liquidity challenges Even when assets are fully held, they may not all be in cash. Some reserves could be in short-term securities or government bonds. If many users want to withdraw funds instantly, converting the assets into liquid cash might take time. Hence, while the system is fully backed, access to funds can be delayed due to increased demand.  5. Limited flexibility in market conditions Fully backed systems can struggle to adjust instantly, particularly in fast-changing markets. They might be unable to reallocate funds to leverage investment opportunities easily. Additionally, it might be challenging to respond to interest rate changes because the capital is locked in reserves. This limited flexibility can make them less adaptable and slower than systems that have more freedom with their assets.  Conclusion – Building a Trustworthy Financial Ecosystem Fully backed reserves represent one of the most dependable models in modern finance. They bring stability, transparency, and confidence by ensuring each issued deposit is supported by tangible assets. However, maintaining this approach can be expensive. Also, it limits how much institutions can grow or earn. As more people become receptive to decentralized finance and digital money, the concept of being fully backed will remain a standard for building honest systems.  

Higher Fees and ETF Inflows Drive Growth BlackRock Inc (NYSE: BLK) reported higher third-quarter profit on Tuesday as global markets rallied and investors poured money into its low-cost index products, pushing the firm’s assets under management to a record $13.46 trillion. That compares with $11.48 trillion a year earlier, underscoring the scale of investor inflows during the quarter. The world’s largest asset manager recorded adjusted earnings of $1.91 billion, or $11.55 per share, for the three months ended Sept. 30, up from $1.72 billion, or $11.46 per share, a year ago. Revenue climbed to $6.5 billion from $5.2 billion, driven by an 8% increase in organic base fees and higher performance fees linked to the rebound in markets. Analysts had expected earnings of $11.24 per share on revenue of $6.2 billion. Long-term net inflows totaled $171 billion, led by continued momentum in the iShares ETF franchise, which remains the main driver of new client assets. “Top organic base fee growth contributors included our systematic franchise, private markets, digital assets, outsourcing, cash and iShares ETFs, which saw record demand,” said Chief Executive Larry Fink. Investor Takeaway BlackRock’s record assets highlight the scale of ETF-led growth even as it pushes deeper into higher-fee businesses such as private markets and data services. Markets Boost Performance as Fed Cuts Rates A rebound in global equities, supported by steady U.S. consumer spending and the Federal Reserve’s first rate cut of the year in September, lifted investor appetite for risk assets. Expectations of further easing later in 2025 drove heavy inflows into fixed-income exchange-traded funds, with investors rotating into U.S. Treasuries and corporate debt. Equity product inflows slowed to $46 billion, down from $74 billion a year earlier, while fixed-income products brought in $47.5 billion. Total net flows reached $205 billion, including strong contributions from private markets and cash management strategies. Retail inflows climbed to $9.7 billion from $6.9 billion a year ago. “We’re entering our seasonally strongest fourth quarter with building momentum and a unified platform anchored by our public-private investment model and Aladdin technology,” Fink said. The CEO noted that BlackRock’s scale and integrated systems give it flexibility to capture inflows across both passive and active strategies. Private Markets and Data Units Add to Earnings As index funds face margin pressure, BlackRock has been expanding in private markets, real estate and infrastructure to capture higher-fee revenue. In the third quarter, private market inflows reached $13.2 billion, while investment advisory performance fees surged 33% to $516 million after a sharp decline in the previous quarter. Technology and subscription revenue rose 28% to $515 million, driven by Aladdin software and the integration of Preqin, the data and analytics firm BlackRock acquired earlier this year. The firm’s other recent acquisitions — Global Infrastructure Partners (GIP) and HPS — also contributed to revenue, according to analysts. “Overall, results were strong and benefitted from a favorable market backdrop,” said Kyle Sanders, senior equity research analyst at Edward Jones. “In our view, BlackRock is entering a new chapter in its growth story.” Total expenses climbed to $4.6 billion from $3.2 billion last year, reflecting higher compensation costs and expenses tied to recent acquisitions. On a diluted basis, net income fell 19% to $1.32 billion, or $8.43 per share, due to one-time charges. Investor Takeaway With $13.46 trillion under management, BlackRock remains the benchmark for global fund growth. The focus now shifts to how it integrates new acquisitions and sustains fee expansion in a maturing ETF market. Outlook BlackRock heads into the fourth quarter with strong momentum, helped by a diversified product mix and resilient client demand. The company’s combined strength in ETFs, private credit and data analytics gives it multiple sources of growth, even as competition in passive funds intensifies. Analysts expect continued inflows if rate cuts and market optimism persist into 2026. “BlackRock’s scale allows it to capture both sides of the cycle,” Sanders said. “Its fixed-income franchise is seeing renewed demand as investors reposition portfolios for a lower-rate environment.” The company’s challenge, he added, will be managing costs and integration while preserving margins amid expansion.