United States (US) banking regulators have taken a major step toward integrating traditional banks with the crypto ecosystem after approving what’s known as “riskless crypto trading.” Under the new framework, US banks will be legally permitted to act as intermediaries between clients and digital asset markets, connecting fiat banking rails and crypto exchanges.  This marks one of the most significant regulatory shifts in US crypto policy. For banks, the change opens a new channel of business. For crypto firms and investors, it promises increased liquidity, improved compliance standards, and easier fiat-to-crypto on-ramp and off-ramp transactions. However, for some in the broader crypto community, it raises concerns about centralization and regulatory reach. U.S. “Riskless Trading” Enables Banks to On- and Off-Ramp Crypto Before the approval, U.S. banks faced regulatory ambiguity when facilitating transfers tied to crypto exchanges. The new rules explicitly allow banks to act as intermediaries since they can now receive deposits from clients, then execute trades on the client’s behalf on crypto exchanges, and settle using fiat or stablecoins under regulated and insured banking frameworks. This has some immediate effects on the broader crypto ecosystem. First, it lowers barriers for retail and institutional investors to access digital assets. Second, it provides stable custody and familiar compliance oversight. And finally, it potentially brings billions of dollars in traditional capital into crypto markets, improving liquidity and stability, especially for on-chain and off-chain bridging operations. Banks are now positioned to offer services like exchange-linked accounts, fiat deposit-to-crypto rails, compliance reporting, and fiat-backed stablecoin issuance. This integration could dramatically reshape how money flows in and out of the crypto ecosystem and set a precedent for other nations. Can the U.S. Move Cause a Crypto Identity Crisis? This regulatory shift by the U.S. could transform the structural backbone of crypto markets. With banks acting as intermediaries, institutional and retail capital from traditional finance may flow more freely into digital assets, strengthening markets, easing volatility, and enabling larger trades or institutional-size orders without exchange-level capital constraints. Also, banks bring extensive compliance infrastructure, including KYC and AML, reporting, audits, and other frameworks that may curb illicit flows, reduce fraud, and increase the legitimacy of crypto markets in the eyes of regulators and institutional investors. Payment processors, treasury services and custodians may also expand holdings to include stablecoin issuance, fiat-to-crypto rails, and integrated banking crypto services. However, the development also raises real concerns. The integration of centralized banking protocols into what was once a borderless, permissionless network could turn crypto to just another product within legacy finance. This subjects it to U.S. macro cycles, influence, and regulatory constraints. Banks entering crypto may inadvertently dilute the ethos of self-custody, sovereign money, and open finance by replacing peer-to-peer protocols with custodial, intermediary-led rails. The true test will be whether this integration spawns innovation or merely grafts crypto onto the existing legacy system.

What Are Mubadala Capital and Kaio Working On? Mubadala Capital has partnered with RWA infrastructure provider Kaio to study how blockchain rails could support tokenized access to private market strategies. The initiative, announced on Tuesday, will examine how Kaio’s digital framework can serve institutional and accredited investors seeking exposure to Mubadala Capital’s products through onchain channels. No product is being launched yet, but the collaboration opens the door to a potential shift in how the Abu Dhabi-linked asset manager distributes alternative assets. The focus is on whether tokenization can streamline the way investors enter funds that typically involve high minimums, multi-year lockups and jurisdictional limits. For asset managers, tokenized structures may act as both a technological upgrade and a new distribution layer that reaches markets difficult to access through traditional fund formats. Investor Takeaway Mubadala’s interest in tokenized feeder structures adds sovereign-linked capital to the growing list of institutions testing onchain rails for private market allocation. Why Does This Matter for Institutional Access to RWAs? Mubadala Capital oversees, advises and administers more than $430 billion in assets through private equity, credit, real estate and other alternative strategies. It is part of Mubadala Investment Company, one of Abu Dhabi’s sovereign wealth funds. Its scale and its role in the region give the collaboration added weight. Recent reporting from Bloomberg showed the Abu Dhabi Investment Council — another Mubadala subsidiary — held at least $500 million in BlackRock’s spot Bitcoin ETF. Taken together, these developments point to a broader willingness across Abu Dhabi’s asset management ecosystem to interact with digital assets, whether through tokenized structures or regulated investment products. Fatima Al Noaimi and Max Franzetti, the co-heads of Mubadala Capital Solutions, said the partnership is about testing how “regulatory-aligned infrastructure” can help open access to institutional-grade products. The collaboration will explore how blockchain rails may support more efficient fund administration while enabling new channels for distribution. What Role Does Kaio Play in the Tokenization Push? Kaio has emerged as one of the more active infrastructure providers behind institutional RWA launches. The company has previously supported tokenized feeder structures for BlackRock, Brevan Howard and Hamilton Lane, bringing more than $200 million in institutional assets onchain. Its work spans both public and private markets, with a focus on translating existing fund formats into digital wrappers without altering their regulatory profiles. Kaio CEO Shrey Rastogi said the collaboration with Mubadala illustrates how traditional capital is beginning to scale onchain. The firm sees tokenized investment vehicles as a way to reduce operational friction while keeping investors inside familiar legal frameworks. Cointelegraph attempted to obtain additional details from Kaio but had not received a response at publication time. Investor Takeaway Institutions are moving beyond pilots and beginning to test tokenized versions of established strategies — a trend likely to expand as infrastructure matures. How Are RWAs Expected to Trend Through 2026? RWA tokenization has gained traction throughout 2025, especially with onchain U.S. Treasurys. A report from CoinShares earlier this year found that tokenized Treasurys grew from $3.9 billion to $8.6 billion, driven by strong demand for dollar yields and easier blockchain-based settlement. The firm expects this demand to continue into 2026. Alongside asset managers, infrastructure providers are preparing for heavier throughput. Polygon deployed a hard fork on Wednesday to reinforce its stack and boost performance, a move viewed as preparation for high-frequency RWA and stablecoin flows. Networks across the sector have been spotlighting throughput and settlement reliability as fund managers look for chains that can support regulated structures at scale. The collaboration between Mubadala Capital and Kaio fits into that transition. Rather than attempting to overhaul private market funds, the initiative is evaluating whether onchain rails can sit beneath existing structures without disrupting investor protections. If successful, such frameworks could widen access to assets that have historically been restricted to small pools of investors. What Comes Next? The companies have not announced timelines or pilot products, but the partnership signals early groundwork toward digitized fund structures. As regulatory clarity improves in major jurisdictions, large asset managers — including sovereign-linked groups — are testing whether tokenized models can broaden distribution while preserving established oversight. For now, the collaboration remains exploratory. But it adds a new name to the list of heavyweight financial players evaluating tokenized rails as part of their long-term architecture.

Hong Kong regulators have unveiled a new framework to boost transparency and oversight of cross-border cryptocurrency transactions with a new announcement that crypto platforms will soon be required to report detailed user and transaction data to domestic authorities. The initiative is part of a broader crackdown on illicit finance and tax evasion, showing Hong Kong’s intention to align with global standards on crypto reporting and compliance. Under the proposed rules, crypto exchanges, custodians, and other virtual asset service providers (VASPs) operating in Hong Kong will be mandated to collect and register data about user identities, transaction amounts, origin and destination wallets, and cross-border transfers. Regulators say the move is essential to curb money laundering, tax evasion, and to ensure Hong Kong remains a reputable jurisdiction as crypto adoption grows. Hong Kong Draws New Crypto Transparency Requirements The financial authorities in Hong Kong are proposing that all domestic crypto asset service providers comply with enhanced reporting and record-keeping standards by the end of a multi-phase consultation. The new regulatory push is described as a “roadmap for responsible crypto growth.” Firms will be compelled to track and report various information, including user identity (KYC), cross-border transaction data, wallet addresses, and transfer purposes. This reporting mandate is being designed to go beyond occasional audits or self-reporting, as regulators expect annual disclosures to be shared with partner jurisdictions, enabling real-time or near-real-time coordination in tracking suspicious or high-risk flows. This level of cooperation aims to make jurisdiction-hopping, which is common among money-laundering schemes, far more difficult. For crypto firms operating in or via Hong Kong, compliance will likely require significant upgrades to their compliance infrastructure. Exchanges will need to build robust data collection pipelines, integrate global wallet monitoring tools, and enhance user verification procedures. While this increases operational overhead, for compliant firms, the regulatory clarity could represent a competitive advantage from a signal that they are vetted, secure, and future-proof. Takeaways for Investors and the Future of Crypto in Hong Kong For investors and users, the new rules could lead to both short-term and long-term changes. These include reduced anonymity due to a decline in wallet-to-wallet privacy, as transactions become more traceable. For crypto platforms and exchanges, there could be increased compliance costs, which could be passed on to their users. This would potentially raise fees or create higher entry requirements, such as stricter KYC, identity verification, and location checks. On a global scale, Hong Kong’s move may influence other financial hubs considering similar regulations, especially in jurisdictions balancing crypto-friendly policies with financial crime prevention. If successfully implemented, the model could shape global standards for cross-border crypto regulation and enforcement cooperation. Ultimately, investors, platforms, and users are likely to experience changes that will bring a new era of compliance, reduced anonymity, and a more stable regulatory footing as crypto regulation takes shape in 2025 and beyond.

Digital Asset and a consortium of leading financial institutions have completed a second round of groundbreaking onchain U.S. Treasury financing transactions on the Canton Network, signaling rapid progress toward a scalable, always-on capital markets infrastructure. Building on the inaugural July demonstration, the latest phase showcases expanded liquidity, broader institutional participation, and—most notably—the first real-time reuse of tokenized collateral, a technological leap with major implications for global financial markets. The working group includes Bank of America, Brale, Circle, Citadel Securities, Cumberland DRW, Digital Asset, M1X Global, Société Générale, Tradeweb, and Virtu Financial. Together, they executed five coordinated transactions, up from one in July, demonstrating an intentional progression rather than isolated pilot activity. These efforts are shaping a new model for instant asset mobility, programmable finance, and interoperable liquidity across interconnected applications on the Canton Network. The milestone highlights the growing maturity of the Global Collateral Network, a critical component of the Canton architecture. By enabling fully onchain financing against stablecoins and tokenized Treasuries, the network is reducing operational friction and unlocking new efficiencies for collateral-rich financial markets. As institutions move toward 24/7 liquidity and automated collateral workflows, Canton’s model offers a blueprint for regulated, composable, and scalable settlement infrastructure. Takeaway The latest phase demonstrates real-time collateral reuse, expanded stablecoin liquidity, and multi-institution participation—confirming Canton’s trajectory toward scalable, always-on capital markets infrastructure. What Innovations Define This Second Phase of Onchain Treasury Financing? The new transactions introduce several advancements over the July demonstration. First, multiple stablecoins—including SBC and USDM1—were used for collateral financing, significantly expanding onchain liquidity. This diversification enhances optionality for institutions needing flexible funding sources while testing real-world liquidity scenarios across regulated stablecoin issuers. Second, institutional participation broadened, with new entrants such as Brale and M1X Global joining the working group. Existing participants like Bank of America and Virtu increased their involvement, signaling heightened industry confidence in the network’s performance, scalability, and compliance foundations. The consortium’s growth underscores the accelerating adoption of tokenized collateral workflows among top-tier market players. Most importantly, the transactions achieved the first onchain reuse of collateral—an operational breakthrough. Tokenized Treasuries were pledged and reused across counterparties in real time, overcoming long-standing barriers associated with traditional rehypothecation, which relies on sequential, manual processes that slow asset mobility. On Canton, collateral can move instantly, safely, and with programmable rulesets that preserve compliance and legal certainty. Takeaway This phase demonstrates the feasibility of multi-stablecoin liquidity, broader institutional collaboration, and real-time rehypothecation—unlocking a more capital-efficient financial ecosystem. What Are Industry Leaders Saying About Canton’s Progress and Its Potential Impact? Bank of America emphasized the transformative potential of distributed ledger technology for collateral mobility, highlighting the importance of exploring new innovations that streamline financial operations. Brale’s CEO Ben Milne noted that Canton finally delivers institutional-grade workflows where Treasuries can convert directly into stablecoins within a single trade—an efficiency long promised but never realized until now. Circle underscored the significance of integrating xReserve into Canton, offering a USDC-backed stablecoin that boosts cross-chain liquidity. Cumberland DRW pointed to rapid momentum in asset diversity, engagement, and transactional velocity, stressing that real-time collateral reuse represents a major step toward a more dynamic global financial ecosystem. Digital Asset reinforced that this second wave of transactions demonstrates deliberate progress toward a new market model designed for scalable, liquid, and programmable capital markets. Additional participants echoed bullish sentiment. M1X Global highlighted progress toward “24/7 access to liquidity” and fully compliant rails for programmable collateral workflows. Société Générale emphasized collaborating on efficient solutions for collateral mobility, while Tradeweb described the milestone as a blueprint for modernizing institutional finance through connected infrastructure and programmable, real-time markets. Takeaway Institutional leaders view Canton’s progress as a foundational shift, enabling programmable markets, real-time collateral mobility, and the next evolution of global capital markets infrastructure.    

What Triggered the Legal Clash Between Kalshi and Connecticut? Prediction markets exchange Kalshi won temporary relief on Monday after a federal judge ordered Connecticut authorities to pause enforcement action while the court evaluates the company’s request for preliminary protection. The decision follows a tense week in which Connecticut’s Department of Consumer Protection (DCP) issued cease-and-desist notices to Kalshi, Robinhood and Crypto.com, accusing the firms of offering unlicensed sports-related wagering. Kalshi filed its lawsuit one day after receiving the notice, arguing that its markets are not gambling products but regulated derivatives overseen by the Commodity Futures Trading Commission. The company said the state’s enforcement attempt conflicts with federal law and could disrupt its operations if allowed to proceed. In its filing, Kalshi stated: “Connecticut's attempt to regulate Kalshi intrudes upon the federal regulatory framework that Congress established for regulating derivatives on designated exchanges.” Investor Takeaway Kalshi’s case centers on a jurisdictional fight that could influence how prediction markets operate nationwide. The outcome may determine whether states can treat event-based contracts as gambling even when federally regulated. Why Does Kalshi Say Connecticut Overstepped? Kalshi argues that because the CFTC granted it designated contract market status in 2020, its contracts fall squarely under federal derivatives rules. Under that framework, Kalshi maintains that its event-based contracts — which allow users to trade on outcomes of future events — operate as financial instruments rather than wagers. The company contends that Connecticut’s cease-and-desist order conflicts with federal oversight by attempting to reclassify CFTC-regulated contracts as gambling products. Kalshi’s lawsuit says that if states can override CFTC jurisdiction, it would create a fractured landscape where federally regulated exchanges cannot operate consistently across the country. For Connecticut regulators, the concern is the rise of sports-themed markets, which they say resemble unlicensed wagering. The state has taken a strict view of any product that allows users to trade on sports-related results, regardless of how federal derivatives rules classify the activity. What Does the Judge’s Order Actually Do? U.S. District Judge Vernon Oliver’s order blocks Connecticut from taking any enforcement action against Kalshi while the court reviews the company’s request for a preliminary injunction. The pause does not decide the underlying question of jurisdiction but prevents immediate disruption to the platform. The court also set a schedule for next steps: Connecticut regulators must respond to Kalshi’s complaint by Jan. 9, 2026. Kalshi will file further arguments by Jan. 30, and oral arguments are expected in mid-February. The hearing will determine whether the restraining order becomes a longer-term injunction. The pause ensures Kalshi can continue operating as the legal battle unfolds. Without it, Connecticut could have pursued penalties or other actions that might force the exchange to block users or suspend certain markets. Investor Takeaway The court’s decision avoids an immediate shutdown of Kalshi’s services in Connecticut. The upcoming hearing will be a key test of how state gambling rules intersect with federally regulated prediction markets. Is Connecticut an Isolated Case for Kalshi? Connecticut joins a growing list of states that have challenged Kalshi’s operations this year. Arizona, Illinois, Montana and Ohio have all taken positions questioning whether event-based contracts fall under gambling statutes. The disputes have varied by state but reflect a broader uncertainty around how to classify prediction markets that trade on political, economic or sports-related outcomes. Kalshi’s legal stance relies on a consistent federal framework: if the CFTC treats these contracts as derivatives, the company argues, states should not be able to reclassify them independently. State regulators, meanwhile, have shown increasing interest in guarding their authority over online wagering as new types of event-based products gain popularity. The Connecticut case may become an early indicator of how courts address that tension. While the temporary order does not resolve the core issue, it ensures the matter will be considered with full briefing instead of being decided through immediate enforcement. What Comes Next in the Case? The central question now is whether the court will grant a preliminary injunction that blocks Connecticut from enforcing its gambling laws against Kalshi for the duration of the lawsuit. If the injunction is granted, the state would be barred from taking action until the case is resolved on the merits — a process that could extend well beyond 2026. If the court rules against Kalshi, the exchange may need to restrict access in Connecticut and potentially revise how it offers certain markets. The decision could also influence how other states approach similar enforcement efforts. For now, Kalshi retains breathing room while the court examines whether a federally regulated derivatives exchange can be treated as a gambling operator under state law. The result may shape how prediction markets operate across the United States.

In a joint op-ed, EU Commissioner Valdis Dombrovskis and ECB Executive Board Member Piero Cipollone argue that Europe must modernize its currency to reflect rapid technological change. From barter to banknotes, European money has continuously evolved — and the authors emphasize that a digital euro represents the next logical step in this progression. While physical cash remains central to European identity and monetary sovereignty, the shift toward digital payments shows that citizens increasingly expect convenient, secure, and universally accepted digital options. The op-ed stresses that the digital euro is not meant to replace cash, but to accompany it. As more Europeans shop online and use digital tools in everyday transactions, the absence of a public, cash-like digital means of payment becomes a structural gap in the monetary system. A digital euro would serve as a modern counterpart to banknotes, issued by the ECB, preserving public trust while meeting new expectations for efficiency, availability, and privacy. This modernization effort is framed as a response to both technological transformation and changing consumer behavior. Europe’s payment landscape is evolving faster than its monetary tools, and the authors argue that the euro must keep pace to remain relevant and resilient. The digital euro is presented not as a solely technological undertaking, but as a strategic evolution of Europe’s monetary infrastructure for the decades ahead. Takeaway The digital euro complements traditional cash, offering a public, secure, and private digital payment option that reflects how Europeans increasingly transact in a digital-first economy. What Would a Digital Euro Look Like Under the EU’s Proposed Framework? The European Commission’s 2023 Single Currency Package outlines two legislative pillars: continued access to physical cash, and the creation of a legal framework for a digital euro. According to Dombrovskis and Cipollone, the digital euro will be free to use, simple, inclusive, and accepted for any digital payment across the euro area. A key design priority is privacy — offering protections that mirror the anonymity of cash as closely as possible within a digital environment. The authors highlight several defining characteristics of the digital euro. It would work online for e-commerce and mobile payments, and offline to ensure continuity during outages or in locations without internet access. This ensures universality similar to physical euro banknotes. The ECB is also working on next-generation banknote designs to reaffirm that cash remains fully supported — an important message for Europeans concerned about reduced access to physical payments. By embedding the digital euro within existing systems and ensuring interoperability with private-sector solutions, the framework aims to enhance Europe’s payments ecosystem rather than disrupt it. Private payment providers would be able to innovate atop a trusted public foundation, benefiting from increased stability, reduced fragmentation, and the ability to scale services across borders more easily. Takeaway Under the EU’s framework, the digital euro will be free, simple, privacy-focused, and universally accepted—working online and offline while strengthening, not replacing, traditional cash. How Does the Digital Euro Support Europe’s Strategic Autonomy and Future Readiness? Beyond consumer convenience, the op-ed argues that a digital euro is crucial for strengthening Europe’s technological sovereignty. Today’s digital payment landscape is dominated by non-European companies, leaving the EU dependent on foreign infrastructure for essential financial functions. As global tensions rise and supply chains fragment, continued reliance on external providers poses risks to economic security and policy autonomy. The digital euro would provide a European alternative for digital payments, reducing external dependencies and giving the EU greater control over its financial architecture. This aligns with the broader EU strategy to enhance resilience across critical sectors, ensuring Europe can operate independently and decisively in a multipolar world. According to the authors, failing to modernize would leave Europe increasingly vulnerable to external shocks and technological shifts driven by others. The coming years will be pivotal. EU leaders have urged lawmakers to complete legislation in 2026, enabling the ECB to prepare for potential issuance by 2029 and launch a pilot in 2027. With Bulgaria joining the euro area in 2026, the currency must meet the expectations of 21 member states and a rapidly digitizing global economy. The digital euro, they argue, is not an optional enhancement but an essential upgrade for Europe’s monetary future. Takeaway A digital euro strengthens Europe’s strategic autonomy by reducing reliance on foreign payment providers and ensuring monetary sovereignty in a digitized global economy.    

Markets expect Fed’s final 25bps cut, but hawkish guidance and FOMC divisions drive USD volatility and FX market reactions. Expected Federal Reserve (Fed) Rate Cut and Hawkish Guidance Markets are operating under the virtual certainty of a final 25 basis point (bps) interest rate cut for the year, a move already priced in by approximately 90% of investors. This reduction would place the Federal Funds Rate within the 3.5%-3.75% range. However, the true market-moving event will not be the cut itself, but the subsequent guidance, which is widely expected to be "decidedly more hawkish." Analysts are anticipating a "hawkish cut," where the FOMC delivers the reduction while simultaneously adopting a cautious tone, possibly by signaling a pause in the easing cycle for early 2026. This hawkish guidance—delivered through Fed Chair Jerome Powell's press conference and the updated Summary of Economic Projections (SEP) and "dot plot"—will be the primary focus for investors seeking clarity on the central bank's policy path next year. Deep Division and Dissent within the FOMC The Committee is described as being "deeply divided," exhibiting the widest divergence of opinions seen in years, with dissent anticipated from both "hawks" and "doves." This lack of consensus means that the vote split on the rate cut will be a crucial signal, as a slim majority would underscore the internal conflict among policymakers. Furthermore, the political dimension is adding another layer of complexity. President Donald Trump is actively pressuring the Fed for "sharply lower interest rates," and speculation surrounding a potential successor to Chair Powell, such as Kevin Hassett—who is viewed as favoring a looser monetary policy path—is also influencing market expectations and uncertainty about future policy direction. Impact on Foreign Exchange (FX) Markets The post-decision reaction in the foreign exchange (FX) market hinges almost entirely on the subtleties of the Fed's communication. The US Dollar (USD) is poised for volatility based on whether Powell leans hawkish or dovish. A hawkish cut—signaling resistance to further easing in 2026—is expected to cause the recent USD selloff to pause, leading to potential resilience against peers and dragging pairs like EUR/USD lower. Conversely, a dovish tone—expressed through concerns about the labor market or the "dot plot" projecting two or more cuts next year—would likely trigger renewed selling pressure on the USD, opening the door for pairs like EUR/USD to climb higher. Other pairs, including AUD/USD and USD/JPY, are also waiting for this fundamental catalyst to determine their next directional move. Top upcoming economic events: 1. BoC Interest Rate Decision (CAD) Date: 12/10/2025 at 14:45:00 Importance: This is the Bank of Canada's decision on its key interest rate, which is a primary tool for influencing monetary policy in the country. Any change, or even a strong statement about the future path of rates, has a direct and significant impact on Canadian borrowing costs (like mortgages), inflation expectations, and the valuation of the Canadian Dollar (CAD) in global markets. It sets the tone for Canada's economic outlook. 2. Fed Interest Rate Decision (USD) Date: 12/10/2025 at 19:00:00 Importance: The Federal Reserve's interest rate decision is arguably the most watched economic event globally. Because the USD is the world's primary reserve currency, a change in the Fed's policy rate, or the accompanying statement/projections, has a high impact on the entire US economy (interest rates, stocks, debt) and ripples through global financial markets, affecting every currency and asset class. 3. FOMC Economic Projections (USD) Date: 12/10/2025 at 19:00:00 Importance: Released simultaneously with the rate decision, this highly significant report includes the 'Dot Plot' (Interest Rate Projections) from FOMC members. These projections for future interest rates, inflation, and economic growth are critical as they provide forward guidance on the Fed's thinking and its path for future policy adjustments. It often dictates market movement more than the current rate decision itself. 4. FOMC Press Conference (USD) Date: 12/10/2025 at 19:30:00 Importance: Led by the Fed Chair, the press conference provides the public with the context and reasoning behind the day's monetary policy decisions. Market participants scrutinize every word for clues about the central bank's stance on inflation, employment, and the future trajectory of interest rates. It can cause significant volatility in the USD and financial markets as clarity is provided (or confusion introduced). 5. Employment Change s.a. & Unemployment Rate s.a. (AUD) Date: 12/11/2025 at 00:30:00 Importance: These are key gauges of Australia's labor market health. The RBA (Reserve Bank of Australia) closely monitors employment data, as a strong job market (high employment change, low unemployment) can signal inflationary pressure, potentially pushing the RBA toward higher interest rates. Therefore, these releases have a 'HIGH' impact on the Australian Dollar (AUD) and RBA policy expectations. 6. SNB Interest Rate Decision (CHF) Date: 12/11/2025 at 08:30:00 Importance: The Swiss National Bank's (SNB) decision on its policy rate is crucial for the Swiss Franc (CHF). The SNB actively manages its interest rate and sometimes the exchange rate of the Franc to control inflation and support the economy. Any unexpected move or change in language can lead to significant shifts in the value of the 'safe-haven' CHF. 7. SNB Press Conference (CHF) Date: 12/11/2025 at 09:00:00 Importance: Following the rate decision, the SNB's press conference provides a deeper understanding of the Swiss central bank's monetary policy goals, its view on the Swiss economy, and its outlook on exchange rate intervention. This commentary is essential for traders and analysts to forecast future SNB actions and CHF movements. 8. BoE's Governor Bailey speech (GBP) Date: 12/11/2025 at 09:50:00 Importance: As the head of the Bank of England (BoE), Governor Bailey's speeches are high-impact events. Markets listen carefully for any hints regarding the future direction of UK interest rates, BoE's assessment of inflation, and the broader health of the UK economy. Such commentary can cause notable volatility in the British Pound (GBP). 9. Harmonized Index of Consumer Prices (YoY) (EUR) Date: 12/12/2025 at 07:00:00 Importance: This is the primary measure of inflation for the Eurozone used by the European Central Bank (ECB) to set its monetary policy. The year-over-year (YoY) figure indicates the change in prices across the entire Euro area. High inflation puts pressure on the ECB to consider interest rate hikes, making this a 'HIGH' impact release for the Euro (EUR). 10. Gross Domestic Product (MoM) (GBP) Date: 12/12/2025 at 07:00:00 Importance: This monthly GDP release is a broad measure of the UK's economic activity and a key indicator of economic health. A stronger-than-expected growth figure suggests a resilient economy, potentially increasing the likelihood of the BoE maintaining or raising interest rates, thus boosting the British Pound (GBP).   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.

Solana price and broader ecosystem activity surged this week as institutional giants filed for ETFs and the community gathered for Breakpoint 2025. The cryptocurrency market experienced significant momentum leading into mid-December, as Solana (SOL) extended its upward trend for the third consecutive day. While Bitcoin remained in a tight range around $90,500, Solana moved decisively in the right direction, adding 6% to reach a market cap of $185 billion. This rally comes as over 6,000 attendees descend into Abu Dhabi for the flagship Solana Breakpoint conference running from Dec. 11 to 13, and amidst breaking news of major ETF filings. Solana emerged as the standout performer, demonstrating strong resilience and flashing bullish potential based on steady institutional inflows. Why Is Solana Surging? ETF Filings and Breakpoint Fever The primary catalyst for the current momentum is the buzzing development regarding spot ETFs. Global asset management giant Invesco has taken a decisive step by filing a Form 8-A with the U.S. Securities and Exchange Commission (SEC) for a Solana ETF. In the world of finance, this document is typically filed immediately before a security is listed on an exchange, signaling that Invesco’s Solana ETF is not just a concept but is poised for an imminent launch. Important Quote: "This filing is a critical signal, often the final step before a new security begins trading. For investors, this move could be the key to unlocking a new, regulated avenue for Solana exposure." ? JUST IN: NEW $SOL ETF BY INVESCO/GALAXY FILES FORM 8-A WITH THE SEC— "ETF WILL GO LIVE THIS WEEK!"#SOLANA ⚡️ pic.twitter.com/gYdHtvp4bE — curb.sol (@CryptoCurb) December 10, 2025 Simultaneously, Franklin Templeton has launched its Solana ETF, bringing the ticker SOEZ to NYSE Arca and adding fresh Wall Street exposure to SOL. This fund is particularly notable because it includes staking rewards, giving investors a direct way to tap into Solana’s network growth. LATEST: ⚡ Franklin Templeton has officially launched its Solana ETF on NYSE Arca under the ticker SOEZ, with the fund staking as much of its SOL "as is practicable." pic.twitter.com/qhRGeqOgWo — CoinMarketCap (@CoinMarketCap) December 4, 2025 Institutional Confidence and Derivatives Market Data Beyond the headlines, the on-chain and derivatives data paint a picture of aggressive institutional accumulation. Persistent inflows into Solana Exchange Traded Funds (ETFs) over the last four days suggest steady institutional confidence. Key Derivatives Data: Open Interest (OI): SOL futures Open Interest stands at $7.26 billion, up 2.89% over the last 24 hours. Funding Rates: The OI-weighted funding rate stands at 0.0224%, indicating that buyers are paying a premium to hold long positions. Long/Short Ratio: There has been a sharp increase in long positions to 52.55%, suggesting a bullish shift in the Solana derivatives market. This increase in bullish bets aligns with a surge in open interest, indicating that investors are increasing their risk exposure in anticipation of further recovery. [caption id="attachment_176101" align="aligncenter" width="1536"] SOL derivatives data. Source CoinGlass.[/caption] Solana Price Prediction: Technical Analysis Reveals Breakout Potential My technical analysis indicates that the Solana Price Prediction is increasingly bullish as the asset challenges key resistance levels. SOL is currently trading within a consolidation range of $121-$145. The recovery run is approaching the critical November 14 high at $145, which serves as the ceiling of this consolidation phase. Technically, Solana is regaining strength as selling pressure wanes. The Relative Strength Index (RSI) on the daily chart is at 48, inching toward the midline, suggesting a decline in bearish pressure. Furthermore, the MACD histogram has turned positive (+1.52), signaling a momentum shift. Forecast and Targets: If Solana clears the $145 boundary, the Solana price prediction becomes aggressively bullish. The 50-day and 200-day Exponential Moving Averages (EMAs) at $152 and $172, respectively, could serve as immediate potential targets. Analysts note that SOL has reclaimed its 20-day EMA and formed a "cup-and-handle" pattern, a classic bullish setup. Conversely, if the breakout fails, the key support for Solana lies at the $126 mark, followed by April’s low at $95. Ecosystem Expands: SKR Airdrop and Cross-Chain Bridges The rally is further supported by massive ecosystem growth and incentives announced just ahead of Breakpoint. Solana Mobile is launching its SKR token in January, introducing a new asset designed to power ownership and incentives across its mobile ecosystem. The tokenomics are drawing significant retail attention: Total Supply: 10 billion SKR tokens. Allocation: 30% reserved for airdrops and unlocks. Twitter Commentary: The official Solana Mobile account confirmed the buzz surrounding the new token, which is expected to drive high engagement during the conference. "Solana Mobile is launching its SKR token in January, introducing a new asset designed to power ownership, incentives, and activity across its growing mobile ecosystem." Additionally, infrastructure developments are bridging liquidity gaps. Base has launched a Chainlink-secured bridge to Solana, enabling smooth cross-chain transfers. "Builders can now integrate SOL and Solana assets directly into Base apps." Base meets Solana. Connected by Chainlink. The Base-Solana Bridge is now live & secured by CCIP, unlocking native Solana asset support on Base and unified liquidity between both ecosystems.@Base ? Chainlink ? @Solanahttps://t.co/iaXe4GYDJx https://t.co/Zaf3SoPtpY pic.twitter.com/2SbI0P2oeO — Chainlink (@chainlink) December 4, 2025 Broader Market Performance: Bitcoin and Macro Factors While Solana is outperforming, the broader market remains cautious. Bitcoin is hovering in a tight range as the market awaits the FOMC rate decision, which will determine where the market goes from here. However, the correlation between Bitcoin and Solana remains a critical factor. Historically, when the BTC/USD structure strengthens, the SOL price often reacts with amplified volatility. If Bitcoin breaks out following the FOMC decision, Solana could be positioned for one of its strongest short-term rallies in recent months. Solana Price FAQ Is the Invesco ETF approved yet? Invesco has filed Form 8-A, which is a registration form typically filed just before a security starts trading on an exchange. While this indicates a launch is imminent, the exact start date depends on the SEC’s final approval. What is the next price target for Solana? According to the latest Solana price prediction, if the token stays above $130 and attempts a breakout above $145, analysts predict Solana could reach $150 and, from there, potentially $180. Is Solana a good buy right now? Institutional metrics are positive. Short liquidations of $9.64 million over the last 24 hours outpace long liquidations, indicating buy-side dominance. Additionally, total value locked (TVL) has climbed 7% to $8.8 billion. However, investors should play it safe as the FOMC decision can create volatility.

CHFJPY broke daily down channel Likely to rise to resistance level 196.00 CHFJPY currency pair recently broke the resistance trendline of the daily down channel from November (which encloses the previous minor ABC correction ii, as can be seen from the daily CHFJPY chart below) The price earlier reversed up from the support zone between the support level 1920.00 (former resistance from October), lower daily Bollinger Band and the 38.2% Fibonacci correction of the earlier upward impulse from the start of November. The active impulse wave 5 belongs to the extended intermediate impulse wave (3) from the start of August. Given strong daily uptrend and the bearish Yen sentiment seen across the FX markets today, CHFJPY currency pair can be expected to rise further to the next resistance level 196.00 (which stopped the previous impulse wave 3). [caption id="attachment_176099" align="alignnone" width="800"] CHFJPY Technical Analysi[/caption] 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.

Neobanks have taught the world that banking can be fast, mobile-first, and entirely digital. Now, a new wave of crypto-native neobanks is challenging incumbents like Revolut, Monzo, and N26 by adding stablecoins and on-chain settlement into the mix. Within this cohort, a handful of projects are emerging as genuine contenders to reshape how money moves globally. Plasma, a Tether-backed Bitcoin sidechain built for USDT payments, is one example on the infrastructure side. Digitap ($TAP) is an example of a crypto neobank operating at the application layer, focused primarily on consumer experience. This live global money app with a Visa program and a value-capture token design has seen solid early momentum in its crypto presale, raising more than $2.3 million amid bearish market sentiment. And the fact that investors continue to buy this omni-banking app even while BTC pukes suggests it could be a serious candidate for the best crypto to buy now in the PayFi vertical. How did Neobanks change the game? And how are crypto neobanks going one step further? Read on to find out more.  The Rise of Modern Neobanks Neobanks rebuilt consumer banking around the smartphone. In Europe, neobanks such as Revolut, Monzo, and Starling have captured millions of users by offering easy-to-use apps, instant notifications, in-app card controls, and multi-currency accounts. The rise of these new-age digital-first banks has been driven primarily by customer-centric innovation and improving financial access. Revolut launched in 2015, and now, a decade later, another tech revolution is occurring, and the most interesting altcoins to buy are crypto tokens that offer similar services to neobanks but unlock an ownership layer via the token.  How Crypto Neobanks & PayFi Tokens Became the Most Interesting Altcoins to Buy in 2025 Even the most popular neobanks still use the same antiquated banking rails. Cross-border payments still rely on correspondent banking networks, and settlement times are measured in days in many corridors; costs remain stubbornly high, even with neobanks. Global remittance fees still average around 6%.  Banking-focused crypto presale Digitap employs a different playbook, and its multi-rail design gives it access to the same rails as neobanks, as well as to public blockchains, enabling it to process payments much faster. Digitap already supports more than 20 local fiat currencies and more than 100 crypto assets in a single dashboard. It can move value on whichever rail is fastest and cheapest in that moment. And for clients, that means remittances compressing from days to minutes and fees dropping to less than 1%. Digitap, as an omni-bank, is pulling stablecoin rails into production flows and stands to capture a slice of one of the largest recurring transaction bases in the world. Plasma and the New Map of Altcoins to Buy in Payments Plasma is arguably one of the best cryptos to buy now for investors bullish on crypto neobanks, and this stablecoin-centric chair offers zero-fee USDT transfers. This stablecoin chain is a key part of crypto’s emerging payments stack. But to date, it has not shipped Plasma One (its neobank). But this chain does allow crypto natives to send stablecoins at practically no cost and is likely to become a key chain integrated by Digitap and other crypto neobanks. Digitap’s Omni-Bank Model: Best Crypto Presale for 2026? Digitap’s digital global money app is already in the wild. Live on iOS and Android, anyone can download it today and access a single dashboard that integrates fiat, stablecoins, and crypto. The design deliberately mirrors the feel of a modern neobank: clean dashboards, instant card controls, real-time notifications, and in-app management of local and international transfers. Under the surface is the multi-rail system that constantly optimizes transactions, whether they are executed on-chain or via a traditional banking rail. The smart thing about Digitap’s design is that rather than forcing users to distinguish between “crypto transfers” and “bank transfers,” the app treats everything as a payment, abstracting away the technical differences. Money simply moves faster. Adoption is already being seen among crypto-native freelancers and remote workers who earn in stablecoins but still need to pay rent, utilities, and local expenses in fiat. And underbanked users who lack access to core financial services. For both groups, Digitap reduces the number of intermediaries, shortens settlement times, and compresses fees. 2026: When Neobanks Meet Their Match Neobanks will survive because they are already embedded in consumer behavior across Europe, the UK, and emerging markets. The real question is whether they lose market share once projects like Digitap show the world that stablecoin rails offer faster, cheaper, and more flexible flows at scale. 2026 could be the year that neobanks see user migration to crypto neobanks such as Digitap. For this reason, these PayFi projects are easily among the most interesting altcoins to buy in December.  Anyone can purchase Digitap’s native token $TAP for just $0.0361 today and secure a large discount to its confirmed listing price of $0.14. $TAP has plenty of benefits, but the main one is the flywheel. Digitap allocates 50% of profits to token burns and staking rewards, and this is where the race gets interesting. Crypto neobanks offer faster settlements, and users can financially share in the platform’s success—something traditional neobanks do not provide. In the race to open up finance, investors should absolutely be watching players like Digitap, and 2026 promises to be a fascinating year for the crypto neobanks versus traditional neobanks saga.  Discover how Digitap is unifying cash and crypto by checking out their project here: Presale: https://presale.digitap.app Website: https://digitap.app  Social: https://linktr.ee/digitap.app  Win $250K: https://gleam.io/bfpzx/digitap-250000-giveaway   

Did Andrew Tate just discover he’s taller than Chase DeMoor? That single moment at the Misfits Press Conference flipped the internet and pushed the Dubai showdown into global trending territory. Tate’s return, DeMoor’s title defense, and the scale of Misfits Boxing Dubai have captured worldwide attention. The energy is rising fast, and only a few people will get the kind of view that most fans can only imagine. Only a few will get this view. Will you be one of them? The Misfits Boxing Moment Taking Over December 2025  Andrew Tate walked back into Misfits Boxing and changed the tone instantly. His CEO debut, his face-off with Chase DeMoor, and his unexpected reaction to their size comparison sent search volume for Top G Misfits, Andrew Tate, Misfits Boxing Dubai, and Tate fight Dubai soaring. Chase DeMoor now steps into Dubai as the reigning heavyweight champion. Tate enters as the challenger with global influence, cultural dominance, and the sharp timing that built his reputation. Their clash at the Dubai Duty Free Tennis Stadium is shaping into a creator-economy milestone. Misfits events are more than fights. They are cultural signals. They pull audiences across sports, streaming, crypto, and creator circles. And this event proves how influence has become a competitive arena of its own. Andrew Tate Vs Chase DeMoor - Comparison Table Category Andrew Tate Chase DeMoor Background Former kickboxing world champion Misfits Heavyweight Champion Status New Misfits CEO + Challenger Defending champion Fighting Style Tactical, sharp timing High pressure, raw power Strengths Precision, discipline, and psychological control Size, athleticism, aggression Psychological Edge Proven under the spotlight Determined to defend title Public Hype Factor Global, controversial, high demand Surging fanbase through Misfits Motivation Build a new Misfits era Protect the belt X-Factor Leadership + strategic pressure Size advantage + momentum This isn’t just a fight. It’s a collision of presence, power, and the creator era’s biggest personalities. IPO Genie: The Officiao Sponsor Shaping The Moment  IPO Genie isn’t just sponsoring the event. It’s redefining how fight culture and financial culture intersect. The Misfits audience values momentum, opportunity, structure, and clarity. IPO Genie speaks that language through: AI-driven scoring Signal-based insights Early-access structure A transparent presale model IPO Genie Presale Phase 19, now priced at $0.00010620, is gaining attention for its structured visibility and clarity-first design. It’s a phase that fits the mindset of people who move early, read signals, and act before the window shifts. When a moment moves fast, structure becomes power, and IPO Genie gives users exactly that. The $IPO VIP Giveaway Changing The View Of The Night  IPO Genie is sending five fans straight to Dubai for a full, all-access fight-week experience. Not just to watch. To live it. VIP Package Includes: Return flights VIP chauffeur pickup Luxury 5-star hotel stay Premium seats at Tate vs DeMoor Access to Meet the Mystery Fighter, a backstage moment normally reserved for insiders Entries close: 14 December Winners announced: 15 December Most will follow the fight online. A few will walk into the arena lights. Why This Moment Matters For You In December Before The Start of the Fight Week  Fight culture and financial culture share the same core drivers: Positioning Timing Momentum Clarity Young investors relate to this mindset. They want tools that help them filter noise and understand early opportunities with structure. IPO Genie positions itself as the corner man in that journey, offering clarity during high-momentum cycles without hype or unrealistic promises. So, if you want to see the Mistfit King Cubra Vs Chase Moore fight without investing a lot of money. So, IPO Genie is the best platform that provides you with the top VIP Giveaway in December 2025, which helps you to join the fight free of cost. Moreover, the 19th phase $IPO presale and the VIP Giveaway intersect so naturally. Both reward people who move before the bell rings. Enter the IPO Genie VIP Giveaway before 14 December for your chance to secure VIP ringside access. And explore the IPO Genie Presale Phase 19 for structured early-access clarity. If you want to experience this fight week in Dubai, join IPO Genie’s Fight Fighter Giveaway before entries close. This is your shot to win VIP flights, a hotel, and seats to the event. Join the IPO Genie presale today:   Official website Twitter (X)  Telegram Disclaimer: Participation in presales carries risk. This article does not endorse or recommend any specific project. Readers should verify all details independently. FAQs Why is the Tate vs DeMoor fight trending worldwide? The press conference moment, Tate’s CEO return, and DeMoor’s title defense have pushed global searches into peak demand. Is the IPO Genie giveaway free to enter? Yes. Fans can enter without cost and can win flights, a hotel, VIP transport, and premium seats. Why are people exploring IPO Genie Presale Phase 19? Phase 19 at $0.00010620 offers structured clarity, AI scoring, and a transparent early-access model without hype language.

Hong Kong Exchanges and Clearing Limited (HKEX) has expanded its index portfolio with the launch of the HKEX Tech 100 Index, a broad-based benchmark designed to track the performance of 100 of the largest Hong Kong-listed companies driving technological and scientific innovation. The index reflects HKEX’s long-term goal of enhancing market vibrancy and strengthening Hong Kong’s role as a premier hub for tech-focused capital formation in the Asia-Pacific region. The HKEX Tech 100 encompasses companies across six major themes—Artificial Intelligence, Biotech & Pharmaceutical, Electric Vehicles & Smart Driving, Information Technology, Internet, and Robotics. Each constituent is eligible for Stock Connect Southbound trading, enabling deeper participation from both global and Mainland China investors. This accessibility positions the new index as a strategic tool for capturing cross-border investor demand in some of the market’s most dynamic growth segments. HKEX CEO Bonnie Y Chan stated that the index marks a milestone in the group’s indexing and data strategy. By highlighting sectors that have “transformed the DNA of Hong Kong’s markets,” the exchange reinforces its commitment to supporting emerging industries and offering investors more precise instruments to track innovation-led growth. The index also reflects HKEX’s expanding role in shaping regional capital markets infrastructure. Takeaway HKEX Tech 100 consolidates 100 leading tech-driven companies into a benchmark designed to deepen liquidity, strengthen market vibrancy, and showcase Hong Kong’s innovation ecosystem. What Makes HKEX Tech 100 a Strategic Tool for Global and Mainland Investors? One of the index’s defining features is its integration into the Stock Connect Southbound trading framework, which gives Mainland Chinese investors direct access to eligible Hong Kong-listed tech companies. This structure widens the index’s appeal and enhances cross-border investment flows into high-growth sectors. The benchmark’s composition allows both institutional and retail investors to gain broad exposure to innovative industries driving Asia’s digital transformation. The index also includes a fast-entry mechanism, enabling newly listed companies that meet eligibility criteria to join outside of regular review cycles once they qualify for Southbound trading. This ensures the benchmark stays timely and relevant—particularly important in Hong Kong’s vibrant listing environment, where new tech companies frequently enter the market. The mechanism ensures that innovation leaders can be reflected quickly, supporting more dynamic index performance. HKEX emphasizes that the index will not only serve as a performance benchmark but also become foundational for new investment products. This includes derivatives, structured products, and especially ETFs, enabling market participants to tailor strategies around Hong Kong’s innovation economy. The Tech 100’s multi-theme structure gives investors a diversified view of Asia-Pacific’s most dynamic growth engines. Takeaway Designed for Stock Connect accessibility and rapid constituent updates, HKEX Tech 100 enables efficient, diversified exposure to Hong Kong’s high-growth tech landscape. How Will ETF Development in Mainland China Expand the Reach of HKEX Tech 100? To support broader adoption, HKEX has entered a licensing agreement with E Fund Management—one of Mainland China’s largest asset managers—to introduce an ETF tracking the HKEX Tech 100. This upcoming product, pending regulatory approval, will give Mainland investors a convenient way to capture opportunities in Hong Kong’s expanding innovation sectors. E Fund Chairwoman Dr. Liu Xiaoyan praised the benchmark as a comprehensive representation of Hong Kong’s tech vibrancy and a tool for investors seeking efficient access to these companies. The ETF initiative underscores HKEX’s strategy to expand its product ecosystem beyond listing and trading, fostering deeper integration between Hong Kong and Mainland capital markets. The effort aligns with strong regional demand for thematic investment vehicles tied to frontier technologies—from AI and robotics to advanced biotech and smart mobility. By partnering with a leading Mainland fund manager, HKEX strengthens cross-market connectivity and enhances visibility for Hong Kong-listed innovators. HKEX plans to explore additional index opportunities and collaborate with other asset managers to build a suite of products anchored around its indices. This expansion supports Hong Kong’s ambition to be the preferred capital-raising and investment destination for Asia’s new economy companies. As HKEX builds on its indexing strategy, investors can expect more tools that reflect sectoral shifts and evolving market dynamics. Takeaway The licensing agreement with E Fund paves the way for Mainland ETFs tied to HKEX Tech 100, broadening investor access and reinforcing Hong Kong–Mainland capital market integration.    

Nasdaq has chosen Citi Investor Services to provide Account Operator Services, marking a significant strategic step in modernizing and streamlining its post-trade operations. The mandate covers both the Nordic markets and Euroclear Bank, enabling Nasdaq to leverage Citi’s expansive global network and advanced technology stack for critical post-trade functions. This integrated support enhances access to Financial Market Infrastructures (FMIs) and delivers immediate operational efficiency improvements. By outsourcing selected post-trade processes, Nasdaq gains the flexibility to redirect internal resources toward transformation, innovation, and client-facing priorities. Citi’s infrastructure ensures harmonized access to FMIs, simplifying the operational landscape and reducing the need for Nasdaq to maintain multiple interfaces and requirements across jurisdictions. This move allows the exchange operator to focus more heavily on competitive differentiation rather than back-office complexity. The collaboration represents an evolution in how exchanges manage post-trade operations, embracing partnerships with global custodians and service providers to bring scale, automation, and modernization to traditionally resource-intensive processes. The shift from a fixed to a variable cost model further enhances Nasdaq’s agility in responding to market changes and client needs. Takeaway By outsourcing to Citi, Nasdaq gains harmonized FMI access, reduced operational burden, and a more flexible cost structure, enabling greater focus on innovation and client solutions. What Advantages Does Citi Bring as Nasdaq’s Chosen Post-Trade Partner? Citi Investor Services is the only bank in the Nordics offering Account Operator Services, giving Nasdaq a unique combination of regional specialization and global scale. With established digital-led solutions, market connectivity, and deep custody and settlement expertise, Citi can support Nasdaq’s ambition to streamline its post-trade lifecycle while enhancing reliability and efficiency. Matthew Bax, Head of Sales and Client Services at Citi Investor Services, highlighted that this mandate builds on the longstanding collaboration between Citi and Nasdaq. As capital markets infrastructure rapidly evolves, both organizations share a mutual goal of shaping a more connected, efficient global marketplace. Citi’s capabilities allow Nasdaq to enhance automation, improve operational resilience, and simplify compliance across multiple FMIs. The partnership also strengthens Nasdaq’s ability to provide enhanced services to its global client base. With Citi facilitating post-trade operations, Nasdaq can focus more intently on product innovation, market technology development, and customer-centric initiatives—key differentiators in an increasingly competitive exchange landscape. Takeaway Citi’s rare combination of Nordic specialization and global post-trade infrastructure makes it uniquely positioned to support Nasdaq’s operational modernization. Why Is This Partnership Important for the Future of Global Post-Trade Services? The collaboration between Nasdaq and Citi underscores a broader industry trend: post-trade operations are becoming more complex as markets globalize, regulatory demands intensify, and FMIs evolve technologically. Rather than building and maintaining large internal teams for settlement, reconciliation, and FMI connectivity, exchanges and financial institutions increasingly tap specialized partners to handle scale, automation, and regulatory alignment. Nasdaq’s President of Nasdaq Europe, Roland Chai, emphasized that both organizations share a common vision—simplifying post-trade processes through harmonization and innovation. Citi’s infrastructure aligns with this mission by offering frictionless access to FMIs, reducing duplicative operational burdens, and enabling Nasdaq to operate with increased efficiency across markets. This partnership supports a model where exchanges focus on liquidity, transparency, and technology leadership while service partners handle highly specialized operational layers. As global trading volumes grow and technological transformation accelerates, scalable and interconnected post-trade infrastructures will be increasingly vital. Nasdaq’s decision to partner with Citi positions it ahead of this curve, enabling a more resilient, adaptive, and client-focused post-trade ecosystem across Europe and beyond. Takeaway Nasdaq and Citi are aligning around a shared vision of harmonized, technologically advanced post-trade infrastructure—supporting more scalable and globally connected capital markets.    

Horizon Trading Solutions has announced a strategic partnership with OCEANE Invest, a newly established ETF market maker preparing to launch its first products on the Abu Dhabi Securities Exchange (ADX). The collaboration brings Horizon’s automated market-making and algorithmic trading technology to support OCEANE Invest’s role in delivering continuous liquidity, tight spreads, and highly efficient execution for the MENA region’s rapidly expanding ETF ecosystem. ADX has emerged as a dynamic hub for regional ETF activity, and OCEANE’s arrival signals further growth as market participation deepens. By selecting Horizon’s multi-asset electronic trading infrastructure, OCEANE ensures its new ETFs will be backed by robust, real-time liquidity—an essential component for investor confidence and market maturity. The partnership reinforces ADX’s ambition to become the leading ETF venue in the Middle East. OCEANE Invest CEO Anthony Sassine emphasized the mission to bring global-standard ETF services to local investors, citing the partnership as pivotal to delivering reliable, cost-effective trading experiences. With regional demand for diversified investment products rising, the ability to provide market-making excellence aligns with global trends in ETF adoption and supports long-term market development across the GCC. Takeaway Horizon’s automated market-making technology strengthens OCEANE Invest’s ability to deliver deep, continuous liquidity for new ADX-listed ETFs, supporting the GCC’s accelerating ETF market growth. What Technology Advantages Does Horizon Provide to OCEANE Invest’s Market-Making Operations? OCEANE Invest’s trading strategy is built on quantitative research, real-time modelling, and dynamic hedging—capabilities that rely heavily on seamless system integration. Horizon’s architecture connects directly with OCEANE’s internal pricing and risk engines, enabling the firm to run sophisticated models, adjust parameters instantaneously, and respond to market volatility with precision. The technology suite includes automated order placement, smart spread management, cross-asset hedging tools, and advanced quoting algorithms. These features ensure that OCEANE can meet stringent market-making obligations while providing a superior trading environment for investors. By embedding Horizon’s high-performance systems into its core operations, OCEANE is positioned to offer liquidity services comparable to established ETF markets in the US and Europe. Head of Technology Emil Tarazi highlighted that Horizon’s seamless integration empowers OCEANE to deploy complex strategies without latency or operational bottlenecks. This synergy between internal quantitative expertise and Horizon’s trading infrastructure is central to OCEANE’s ability to sustain world-class ETFs from day one on ADX. Takeaway Horizon’s technology integrates directly with OCEANE’s quant models and risk systems, enabling sophisticated, real-time market-making and hedging for new ETFs. Why Is This Partnership a Milestone for ADX and the Regional ETF Landscape? The announcement represents a major step in the evolution of the Middle East’s ETF ecosystem. ADX is emerging as one of the most active and liquid ETF markets in the region, and Horizon’s Managing Director MENA, Gerald Blondel, described the partnership as a natural progression of a long-standing collaboration with OCEANE Invest. He noted that high-performance trading systems play a critical role in allowing new market participants to meet liquidity requirements and build trusted ETF franchises. OCEANE’s expansion into the GCC aligns with global investor demand for diversified, low-cost investment vehicles. By leveraging expertise from seasoned ETF traders across the US and Europe, and by deploying frontier electronic trading technology, OCEANE aims to deliver liquidity standards that match major international ETF markets. This strengthens ADX’s competitive positioning and improves the overall attractiveness of the regional investment landscape. As the MENA ETF market continues to transform, partnerships like this support greater market efficiency, enhance investor experience, and accelerate the adoption of structured index-tracking products. Both OCEANE and Horizon signal ongoing commitments to innovation, operational resilience, and market-level modernization in the region. Takeaway The collaboration advances ADX’s emergence as a leading regional ETF hub, pairing world-class market-making expertise with high-performance trade automation technology.  

Crypto has a strange way of making everyday people feel like part-time space explorers. One moment someone is checking the weather. The next moment they are trying to understand what a crypto presale like Solaverse is, why the price is $0.00-something, and why everyone on social media suddenly talks like financial philosophers. This happens for one reason: early crypto stages create excitement. Presales especially. They sit in this mysterious corner of the market where tokens are sold before they go live, usually at the lowest price they will ever have. A presale token priced at $0.00-something has very limited room to go lower and a much larger space to go higher after launch. As 2026 approaches, many analysts expect new market cycles to form again, cycles where early-stage tokens could gain traction, new users join, and fresh projects rise. This creates a perfect moment to talk about crypto presales offering the best ROI potential going into 2026. Our of Crypto Presales With the Strongest ROI Potential: Solaverse Tapzi DeepSnitch AI BlockDAG Bitcoin Hyper To understand why ROI can be strong in presales, it helps to understand what presales actually do. What Are Crypto Presales? Crypto presales are early fundraising rounds where a project sells its tokens before being listed on exchanges. The price is usually low, often below one cent, because the project is still being built. The idea is simple: people buy tokens early, the project uses the funds to grow; if the project succeeds, early buyers can benefit from the difference between presale price and public launch price. Presales gained popularity because they allow regular users to enter before mainstream attention arrives. When Solana launched its early token sale at $0.22, almost no one expected it to become one of the largest blockchain networks. Presales give people a chance to position themselves before markets move. Early means quiet, later means crowded. What Is ROI and Why Do Presales Offer Strong ROI Potential? ROI stands for Return on Investment, which is another way to say how much value someone receives compared to how much they put in. In crypto, ROI often comes from price increases, token utility, ecosystem growth, reward systems, and in some cases: digital assets attached to the token. Presales can offer strong ROI potential for three reasons: first, the price starts low. A token priced at $0.00-something cannot drop much lower, which limits downside during presale compared to buying after launch. Second, the public launch price is usually higher than the presale price, meaning early buyers enter before the token hits exchanges. Third, some presales give extra rewards like Solaverse with its digital lands, XP, or early access to features. These rewards can be used, traded, or held for later ecosystem rewards. None of this guarantees results. Markets are unpredictable. But the structure of presales often creates favorable conditions for early ROI potential compared to buying after hype begins. Top 5 Crypto Presales You Should Watch for the Next Bull Run: 1. Solaverse Probably the crypto presale offering the best ROI for 2026, Solaverse is the first metaverse ecosystem built on Solana where users can own land, gain XP, and collect digital assets inside a virtual world.  During this presale phase, Solaverse gives 10 Lands, 100 XP, and 1 rare-item chest for every $1000 worth of Sola tokens purchased. These are items that can be used or traded inside the metaverse. This setup resembles the early days of successful game-based ecosystems. Axie Infinity is the most famous example. Between 2018 and 2020, the project was mostly unknown. Then, in 2021, it exploded to millions of users and over $1.3 billion in revenue. People who entered early held creatures and items long before they gained value. Solaverse is creating something similar: a system where early users receive digital assets before the metaverse launches in 2026. The roadmap confirms 2026 as the Growth Phase. That makes 2025 the year when early users position themselves. The presale is currently in Stage 10, priced at $0.0147, with a launch price set at $0.05. This means presale buyers enter at nearly five times lower than the public market price. And even without selling Sola, users can still trade or use their lands and items inside the metaverse. This flexibility is why analysts mention Solaverse as one of the presales with strong ROI potential heading into 2026. Not guaranteed. Not promised. But structurally positioned. 2. Tapzi (TAPZI) Tapzi is going for a skill-to-earn Web3 gaming platform. Here’s the fun version: you’re in a friendly competition with other gamers, you win a round of Tic-Tac-Toe or a quick-fire tap game, you get TAPZI tokens for your performance. Unlike pure luck, this is about skill: so if you’re good, you might pull ahead. Tapzi is offering early entry via a presale around ~$0.0035 per TAPZI token (as of the stage being described). They’ve allocated around 20% of their supply to presale participants. Their narrative: make crypto gaming casual, fun, competitive, and reward actual ability, not just hype. Why it could be exciting: Games are relatable. Many people already play casual mobile games. If Tapzi nails it, they could attract a large user base; and early token holders benefit. Entry price is relatively low if you believe the concept. Many gaming-tokens flop if the actual game isn’t fun, lacks retention, or has weak monetization. The token still needs to be listed on exchanges. Presale tokens often have lock-ups or unfavourable vesting. If you believe “gaming + crypto = future,” and you don’t mind the risk, Tapzi is one of the more digestible presales on offer. But it’s still speculative; think “fun gamble” rather than sure bet. Join one of the top high-ROI crypto presales before the 2026 market cycle begins! 3. DeepSnitch AI  DeepSnitchAI is like a clever robo-detective who watches everything happening in crypto: wallets, smart contracts, market sentiment… It’s the “AI-spy in the crypto jungle” idea. If, for exemple, you’re a trader. Instead of manually scanning charts all day, you get an alert: “Hey, weird wallet just moved 50k ETH to a new contract, check this out.” That alert comes from an AI agent built into the DSNT ecosystem. DSNT presale price circa ~$0.02381 in a recent stage. The token grants access to parts of the AI tool network, so it has utility beyond just “flip and list.” AI + crypto is one of the hotter narratives right now. If DeepSnitch delivers a genuinely useful tool for traders, there’s real value. Also, getting in at presale gives early access at lower prices. This presale is for the techno-optimist who thinks crypto tools are due for a leap. But it’s not a casual play; it needs the product to ship and users to adopt. High risk for high potential. 4. BlockDAG  If Tapzi is arcade fun and DeepSnitch is robo-analytics, BlockDAG is the build-your-own-highway in crypto. A new Layer-1 blockchain using DAG architecture (Directed Acyclic Graph) plus EVM compatibility. Just like building a fast freeway for crypto apps, instead of using the old small roads. To make it simple to understand, here’s a quick exemple: you’re at the airport of blockchains. Ethereum is Terminal A (good but crowded), Solana is Terminal B (fast, flashy). BlockDAG wants to build Terminal C that handles both speed and flexibility, so new apps light up quickly, fees stay low, throughput is high. The project has already raised over ~$430 million in presale so far; token price around ~$0.005 on this stage. Infrastructure plays often offer big upside if they succeed; the “road builders” in a booming city. If BlockDAG becomes a major chain, early token holders could benefit a lot. But infrastructure is hard. Many projects promise “we’ll build Terminal C” and it ends up delayed or underused. The project has a big ambition, giving it a big risk. If you believe new blockchain infrastructure is due and one of these projects could win, BDAG might be interesting. But only with the mindset “maybe 10x or maybe 0.” Join one of the top high-ROI crypto presales before the 2026 market cycle begins. 5. Bitcoin Hyper (HYPER) Unlike wild meme coins or ambitious infrastructure plays, this presale pitches itself as a building block for a more practical crypto future: a wallet + token combo that gives early users perks, staking, early-access, and maybe streamlined entry to future token launches. The idea: bundle a multi-chain wallet + a token that gives users “VIP-like” access e.g. early token drops, discounted fees, staking, maybe easier access to new presales. This makes the offer more “useful” than a standalone speculative token. For people who use multiple blockchains, new tokens, and DeFi regularly, the convenience + perks might make sense, especially if the wallet becomes widely adopted. Compared to meme coins, this has a slightly more grounded use-case: wallets already exist; adding a token-based incentive layer isn't absurd. The risks: the token’s value depends heavily on adoption of the wallet. If few people use the wallet, then the token may be irrelevant. Adoption is uncertain, especially given wallet competition in crypto. Many presale wallet-token combos struggle to build lasting ecosystems. It’s easy to promise “early access + staking + perks”, but hard to deliver mass adoption. Positioning for ROI Before 2026 Arrives Presales sit at the very edge of the crypto frontier, where ideas are still forming, prices are still tiny, and only the curious are paying attention. As 2026 approaches, that frontier looks especially active. Market cycles are turning, liquidity is returning, and new narratives are forming around metaverse worlds, skill-based gaming, AI tooling, next-gen infrastructure, and smarter wallets. That’s exactly where Solaverse, Tapzi, DeepSnitch AI, BlockDAG, and Bitcoin Hyper are trying to stake their claim. What makes these five stand out isn’t just their low starting prices, but the different kinds of value they attempt to create. Solaverse combines tokens with metaverse land, XP, and items, giving early users more than price speculation. Tapzi taps into something almost everyone understands: simple, fun games, while turning skill into on-chain rewards. DeepSnitch AI aims to give traders an intelligent advantage in a noisy market. BlockDAG goes big on infrastructure, trying to become one of the “new highways” of crypto. And Bitcoin Hyper tries to make everyday crypto use smoother with perks, access, and a wallet-driven ecosystem. Together, they show how wide the presale opportunity set really is. But strong ROI potential is still only potential. Low presale prices, attractive tokenomics, and clever narratives do not guarantee success. Any one of these projects could struggle with adoption, delays, competition, or simply a lack of sustained interest. That’s why presales should always be approached as high-risk, asymmetric bets, the kind where you only commit what you can afford to lose, diversify across multiple ideas, and give yourself time for the story to play out. For users willing to do the research and accept the risks, these five presales offer some of the more compelling ROI setups going into 2026; not guaranteed winners, but early entries into narratives that could define the next wave of crypto growth.

Kraken has selected Avelacom as its high-performance connectivity provider, marking a significant enhancement for institutional traders deploying latency-sensitive strategies. The partnership grants firms access to Kraken’s matching engine via Avelacom’s optimized global routes, ensuring faster delivery of market data and superior order execution. As institutional participation in digital assets intensifies, the demand for reliable, ultra-low latency infrastructure has become a defining competitive edge. Through this integration, trading firms can execute arbitrage, multi-venue routing, and other precision-driven strategies with higher accuracy across global markets. Avelacom’s infrastructure enables real-time feeds and execution speeds previously reserved for traditional high-frequency environments. This technological uplift positions Kraken to better serve sophisticated firms that rely on microsecond-level timing differences to maintain profitability. The development also indicates a broader trend: digital asset venues are increasingly investing in institutional-grade connectivity to compete with traditional exchanges. As crypto markets mature, execution quality, latency, and uptime are no longer optional features—they form the backbone of institutional adoption. Takeaway The integration gives institutional traders faster access to Kraken’s markets, improving execution precision. Lower latency strengthens arbitrage and multi-venue strategies, boosting competitiveness for active firms. Why Do Low-Latency Routes Matter for Multi-Venue and Cross-Exchange Strategies? A key highlight of the announcement is Avelacom’s global network, which links major financial hubs with fiber and hybrid wireless solutions. Its London–Tokyo route alone delivers round-trip latency under 138 milliseconds, giving traders meaningful timing advantages when executing complex, cross-regional strategies. For digital asset markets—where price discrepancies across venues can appear and disappear in milliseconds—these micro-optimizations determine strategy viability. Kraken’s institutional clients now gain access to the same type of infrastructure used by traditional high-frequency players in equities, FX, and derivatives. With crypto markets operating 24/7, the need for consistent uptime and resilient network performance becomes even more critical. Avelacom’s 99.9% uptime standard and specialized global coverage address a long-standing barrier for firms accustomed to enterprise-level performance. As arbitrage activity rises, connectivity infrastructure becomes a core determinant of whether firms can capture spreads before they tighten. The Kraken–Avelacom integration therefore targets one of the most lucrative—and competitive—segments of institutional crypto trading. Takeaway Ultra-low latency networks give traders an edge in arbitrage and cross-exchange execution. Avelacom’s optimized routes help firms secure spreads faster and with greater consistency. What Does This Partnership Signal About the Future of Institutional Digital Asset Trading? The collaboration underscores a maturing market in which digital asset platforms increasingly mirror the infrastructure standards of legacy financial markets. Kraken’s move reflects rising institutional expectations for speed, redundancy, and operational resilience. As volumes grow, physical connectivity becomes a strategic differentiator—and partnerships with providers like Avelacom demonstrate how exchanges are adapting to institutional requirements. Statements from Avelacom CEO Aleksey Larichev highlight the importance of combining robust infrastructure with Kraken’s global footprint to deliver the “fastest possible access” to markets. This aligns with industry momentum favoring lower latency, improved execution quality, and reliable access across jurisdictions. The institutional bar is rising, and exchanges are responding through deeper technical modernization. Looking ahead, enhanced network performance is likely to unlock more advanced algorithmic participation in crypto markets. As execution certainty and data quality improve, more traditional prop firms, systematic funds, and cross-asset trading desks may expand activity into the digital asset class, accelerating liquidity and sophistication across trading venues. Takeaway Kraken’s partnership with Avelacom signals rising infrastructure standards in institutional crypto trading. Better connectivity will attract more systematic and high-speed firms to digital asset markets.    

Euronext has introduced its new Auction Volume Discovery (AVD) order type, designed to give market participants deeper and more flexible access to opening and closing auction liquidity. As auctions now account for over a quarter of consolidated lit volumes across Euronext stocks, firms have been seeking more sophisticated mechanisms to interact with these high-impact liquidity events. The AVD rollout directly addresses this demand by offering an integrated way to tap into unmatched auction liquidity without influencing the auction price formation process. In 2024, Euronext recorded an average daily auction imbalance exceeding €200 million—representing roughly 6% of total auction volume and underscoring substantial liquidity left unexecuted each session. By enabling non-displayed orders that target these imbalances, AVD gives traders a structured path to convert these inefficiencies into executed flow. This is particularly relevant for institutions managing large blocks, which often face challenges participating in auctions without affecting pricing dynamics. Euronext positions AVD as an enhancement to its existing leadership in European auction mechanisms. With auctions now serving as strategic liquidity moments for asset managers, banks, and electronic liquidity providers, AVD adds an optimized layer of interaction that aligns with how the market increasingly trades around event-driven liquidity windows. Takeaway AVD lets traders access unmatched auction liquidity more efficiently, transforming daily auction imbalances into execution opportunities without influencing auction pricing. What Makes AVD Orders a Unique Tool for Block Trading and Auction Strategy? AVD introduces a workflow allowing market members to submit non-displayed orders throughout the day, all of which execute exclusively at the official opening or closing auction price. Because these orders do not contribute to the auction’s indicative price or volume calculation, firms gain a controlled mechanism to execute block-sized interest without signaling intent to the broader market. This design increases discretion and reduces the risk of market impact, a key advantage for institutional equity desks. During the auction uncross, AVD orders follow a two-stage matching process. First, they interact with the auction imbalance, helping absorb unmatched liquidity that would otherwise remain unexecuted. After this step, any remaining AVD orders match against one another at the same official auction price, creating additional liquidity pools. If a residual portion remains, it expires at the end of the auction—ensuring AVD never rolls into continuous trading or impacts subsequent sessions. This sequencing is particularly beneficial for traders executing benchmark-driven strategies, such as those tied to NAV calculations, index reweights, or passive fund flows. Because execution is guaranteed at the official auction price, firms can more accurately track benchmarks, reduce slippage, and access liquidity that may not be available during continuous trading. The addition of AVD may also deepen liquidity at key intraday transition points, strengthening price discovery for the broader market. Takeaway AVD’s non-displayed workflow gives institutions a way to trade blocks and benchmark-driven orders at auction prices with minimal signaling risk, improving execution control and efficiency. How Does AVD Fit Into Euronext’s Broader Market Modernization Strategy? The launch of AVD aligns with Euronext’s “Innovate for Growth 2027” plan, which aims to modernize core trading infrastructure and create new liquidity channels across European markets. Nicolas Rivard, Euronext’s Global Head of Cash Equity and Data Services, described the order type as a milestone that enhances liquidity while expanding tools available to trading clients. This strategic vision emphasizes creating value-added mechanisms around auctions—one of Euronext’s strongest competitive advantages. Euronext’s auction infrastructure already represents a major liquidity hub, drawing institutional flow during key moments of daily price formation. By introducing AVD, the exchange reinforces its position as Europe’s leading venue for equity auctions, creating new optionality that supports both passive and active trading styles. The offering responds to the industry's shift toward more automated, event-driven execution, where auctions increasingly act as anchor points for strategy deployment. The exchange’s commitment to evolving its auction ecosystem signals broader market implications. As more liquidity becomes executable via structured auction tools, European equity markets may see tighter spreads, improved price formation, and greater participation from block-oriented institutions. AVD could also inspire similar developments across other venues, potentially reshaping how auctions function as liquidity discovery mechanisms in global equities trading. Takeaway AVD strengthens Euronext’s leadership in auction trading while supporting its long-term growth strategy, deepening liquidity and modernizing how institutions access auction-driven flow.    

Polygon has activated its latest network upgrade, the Madhugiri hard fork, introducing performance improvements aimed at making the chain faster and more efficient. The upgrade reduces block-time delays from two seconds to one, allowing transactions to be confirmed more quickly and lifting estimated throughput by roughly 33%. Madhugiri incorporates several optimizations originally developed for Ethereum’s Fusaka update, including enhancements to gas measurement and processing operations that help the network handle heavier computational loads. The fork also introduces a new transaction type designed to streamline activity between Polygon and Ethereum, strengthening the network’s cross-chain architecture. The upgrade forms part of the blockchain's broader effort to prepare its ecosystem for high-volume applications such as stablecoins, real-world asset tokenization, and enterprise-grade financial products. By improving block cadence and reducing latency, Polygon aims to offer developers a more predictable and scalable environment. Krishang, a core developer, highlighted additional benefits, saying: “We are introducing a new transaction type for Ethereum ↔ Polygon bridge transactions. We are also decreasing the consensus time to 1 second, so blocks can now be announced in 1 second if ready, instead of waiting the full 2 seconds.” With Madhugiri now live, Polygon says future performance upgrades will be easier to roll out, enabling the network to adjust capacity more rapidly as demand grows. Broader Implications for Adoption of Polygon The timing of the Madhugiri hard fork coincides with increasing real-world usage of the blockchain across payments, stablecoins, and large‑scale enterprise deployments—suggesting the upgrade is not just about raw throughput, but readiness for mass adoption. For example, the launch of KRW1, a South Korean won–backed stablecoin by BDACS, on Polygon underscores trust in its capacity to handle high-volume, fiat-backed assets. The stablecoin’s full deployment followed a proof‑of‑concept and now supports payments, cross-border remittances, and business operations—use cases that demand reliability, speed, and low fees. Meanwhile, the decision by Mastercard to integrate Polygon into its crypto credential programme—enabling verified username‑based crypto transfers—points to a broader push toward user‑friendly, mainstream‑grade crypto payments. By mapping human-readable aliases to self-custody wallets, Mastercard aims to remove a major barrier to adoption. Ethereum has also undergone an upgrade called Fusaka, which briefly caused validator participation to drop by about 25% due to a Prysm client bug. This incident highlighted how network consensus can be vulnerable when too many nodes rely on a single client.

Australia’s securities regulator, ASIC, has finalized a series of exemptions aimed at strengthening innovation within the digital asset and payments sectors. The newly announced class relief allows intermediaries to engage in the secondary distribution of eligible stablecoins and wrapped tokens without requiring additional Australian financial services (AFS), market, or clearing and settlement licences. This approach builds on earlier relief measures while adapting to the evolving needs of service providers operating within the rapidly expanding crypto ecosystem. Stablecoins and wrapped tokens have increasingly become core infrastructure for digital markets, enabling liquidity routing, cross-chain mobility, and efficient settlement. By reducing the licensing burden on intermediaries interacting with these instruments, ASIC seeks to maintain regulatory oversight while removing friction that could stall technological progress. The updated exemption framework ensures existing market participants can continue to support tokenized assets that fall within defined eligibility thresholds—particularly those issued by firms already licensed or undergoing the licensing process. These measures signal ASIC’s willingness to adjust regulatory settings to encourage responsible market development. As more firms move toward tokenized products and blockchain-based financial services, class relief acts as a bridge to forthcoming government regimes governing digital asset platforms and payments. This transitional approach ensures industry continuity while broader legislative frameworks are still in development. Takeaway ASIC’s exemptions reduce licensing barriers for intermediaries handling certain stablecoins and wrapped tokens, supporting continued market innovation during Australia’s regulatory transition. What New Custody Flexibilities Are Provided Under the Updated Relief? Beyond distribution exemptions, ASIC has also granted relief allowing providers to hold digital assets that qualify as financial products in omnibus accounts—provided they maintain appropriate reconciliation procedures and detailed record-keeping. Omnibus custody structures are common in traditional finance and offer operational efficiency for institutions managing assets on behalf of multiple clients. Extending this model to digital assets reflects ASIC’s recognition of practical challenges faced by custodians evolving their infrastructure. By enabling omnibus accounts, ASIC is aligning custody rules with global best practices, ensuring Australian providers can compete internationally while still adhering to robust compliance obligations. Proper reconciliation and transparency remain mandatory, ensuring that client assets are clearly identifiable and properly segregated within custodial systems. This move is especially relevant as tokenization expands and more financial products transition to blockchain-based wrappers. The omnibus relief complements ASIC’s broader objective of supporting healthy market mechanics without compromising consumer protection. For custodians, it offers a clear operational framework as they expand the range of digital financial products held on behalf of clients. For investors, the requirement for precise record-keeping reinforces confidence in the integrity and safety of these custody structures. Takeaway Custodians can now use omnibus accounts for digital financial products, gaining operational flexibility while still meeting strict reconciliation and record-keeping standards. How Did Industry Feedback Shape ASIC’s Final Relief Measures? The final class relief reflects ASIC’s response to industry feedback gathered during consultation periods dating back to October 2025. Following the release of Simple Consultation 32 and the updated digital asset guidance (INFO 225), ASIC received five non-confidential submissions from market participants. The feedback was largely supportive, requesting broader eligibility definitions and clearer guidance—particularly around how wrapped tokens and stablecoins would be treated under upcoming regulatory frameworks. In response, ASIC expanded eligibility to include stablecoins and wrapped tokens whose issuers have applied for licensing, easing compliance obstacles for innovative products still progressing through the formal approval process. This flexibility aligns Australian rules more closely with international regulatory approaches, where transitional recognition is common for emerging digital asset models. ASIC also incorporated further clarifications in the accompanying Explanatory Statements to address operational and definitional concerns raised during consultation. These adjustments show a shift toward collaborative regulatory development, with ASIC positioning itself as a facilitator of responsible innovation rather than an impediment. By bridging the gap between present-day digital asset activity and future government regimes, the class relief provides firms with stability and clarity as they navigate the evolving regulatory landscape, particularly in relation to custody, payments, and tokenisation initiatives. Takeaway Industry consultations helped shape broader eligibility and clearer definitions, ensuring ASIC’s relief supports innovation while aligning with global regulatory developments.    

Twenty One Capital has completed its business combination with Cantor Equity Partners and will debut on the New York Stock Exchange (NYSE) on December 9 under the ticker “XXI,” launching with more than 43,500 Bitcoin in its treasury, valued at roughly $4 billion and placing it among the world’s largest public corporate holders of the asset. The company is majority-owned by Tether and Bitfinex, with SoftBank Group holding a significant minority stake, marking one of the strongest institutional coalitions yet behind a Bitcoin-native operating company. Built around a dual model of Bitcoin accumulation and BTC-centric business operations, Twenty One plans to expand into financial services, capital markets advisory, lending, and educational media designed to accelerate mainstream integration of the cryptocurrency. CEO Jack Mallers said the listing reflects an effort to give BTC a formal place in global markets while offering investors exposure to both its reserve strength and the upside of a company built directly on it. “Bitcoin is honest money. That's why people choose it, and that's why we built Twenty One on top of it. Listing on the NYSE is about giving Bitcoin the place it deserves in global markets and giving investors the best of Bitcoin: its strength as a reserve and the upside of a business built on it." Twenty One has pledged full transparency from day one, including real-time on-chain verification of its holdings, and intends to develop products and services that replace legacy financial tools with BTC-aligned alternatives. The firm’s market debut follows a major set of PIPE transactions totaling more than $850 million across senior convertible notes and common equity, supported by leading advisors from Skadden, Sullivan & Cromwell, Ellenoff Grossman & Schole, and Cantor Fitzgerald. Twenty One Capital Under Jack Mallers’s Leadership Tether, Bitfinex and SoftBank Group are backing the Bitcoin-native financial firm Twenty One Capital, with Jack Mallers named CEO. Twenty One plans to launch publicly via a SPAC merger with Cantor Equity Partners (CEP), providing investors access to a company designed around BTC accumulation and financial services. With a strong balance sheet, the company is now weighing issuing U.S. dollar loans backed by its Bitcoin holdings—a step beyond passive accumulation, as it seeks to leverage BTC as collateral to offer lending and other financial services. Under Mallers’s leadership, Twenty One aims to redefine corporate finance by shifting from fiat-based valuations toward Bitcoin-native metrics—such as “Bitcoin per share”—and building a full suite of aligned financial products, media and advisory services to accelerate mainstream institutional adoption.