Injective said Thursday it has filed a transfer agent registration with the US Securities and Exchange Commission, seeking to bring one of the core record-keeping functions of securities markets onto blockchain infrastructure.
Transfer agents are a core part of US market infrastructure, maintaining shareholder records and tracking changes in securities ownership. Injective, a layer-1 blockchain focused on decentralized finance and tokenized real-world assets, said bringing that function onchain would create a regulated pathway for issuing and managing tokenized assets.
Source: Injective
If approved, the registration would move Injective beyond blockchain infrastructure for tokenized assets and into the regulated systems that determine who legally owns a security. Injective said the approach could reduce delays and reconciliation between intermediaries.
“Tokenized securities and RWAs need compliant ownership records on infrastructure that settles in less than a second,” Injective wrote in an X post, adding that it aims to offer the capability at scale in the United States.
Injective did not identify the legal entity behind the application or provide a public SEC filing, and Cointelegraph could not independently verify the submission at the time of publication.
Capital markets infrastructure moves onchainTraditional financial institutions have increasingly turned to blockchain to modernize the infrastructure underpinning capital markets. Beyond tokenizing assets, exchanges and market operators are applying the technology to market data distribution, securities issuance, settlement and other post-trade functions.
Nasdaq has been among the most active. Last month, the exchange partnered with onchain financial data network Pyth to distribute its proprietary TotalView market data to blockchain applications. Earlier this year, Nasdaq also partnered with Kraken and tokenization firm Backed to develop infrastructure linking traditional equities to blockchain networks.
Intercontinental Exchange, the parent company of the New York Stock Exchange, has also expanded its tokenization strategy through a partnership with Securitize to develop infrastructure for onchain stocks and exchange-traded funds designed to support 24/7 trading and instant settlement.
Meanwhile, the Depository Trust & Clearing Corporation, the primary post-trade infrastructure provider for US securities markets, is preparing to launch its tokenized Collateral AppChain platform to automate collateral management and settlement across financial markets.
Magazine: Is Robinhood Chain’s success bullish or bearish for ETH the asset?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Injective announced Thursday that it has submitted a transfer agent registration to the US Securities and Exchange Commission (SEC), aiming to integrate a core function of traditional securities markets onto blockchain technology.
Blockchain transfer agent roleTransfer agents are fundamental to US financial infrastructure, responsible for maintaining records of securities ownership and managing changes as shares are bought or sold. Injective, a layer-1 blockchain specializing in decentralized finance and tokenized real-world assets, stated that shifting these responsibilities onchain could offer a regulated means for issuing and managing tokenized assets within the current legal framework.
By pursuing SEC approval for this role, Injective would transition from simply offering blockchain infrastructure for tokenized assets to directly operating within regulated US securities markets. This move would allow the platform to help establish official ownership records for securities in a faster, more transparent manner than traditional systems currently provide.
Injective pointed out that onchain transfer agent capabilities may reduce existing delays and reconciliation steps among financial intermediaries. In a statement posted to X, the company wrote,
“Tokenized securities and RWAs need compliant ownership records on infrastructure that settles in less than a second,” while emphasizing its goal of delivering this service at scale in the United States.
Despite the announcement, Injective did not specify the legal entity behind the filing or publish a public SEC document. At the time of reporting, there was no independent verification of the application.
Mini dictionary: Transfer agent, a financial institution or company authorized to maintain records of securities ownership, process transfers, and handle related communications and dividend distributions for corporations and investors in regulated markets.
Industry-wide shift toward blockchainTraditional finance participants have increasingly embraced blockchain to upgrade the infrastructure underpinning capital markets. Their initiatives reach well beyond just tokenizing assets, extending to functions such as securities issuance, settlement, and market data distribution.
Nasdaq, a leading US stock exchange, has been especially active in exploring blockchain partnerships. Last month, Nasdaq began distributing its proprietary TotalView market data—delivered in collaboration with Pyth, an onchain financial data network—to blockchain applications. Earlier this year, Nasdaq worked with Kraken, a global cryptocurrency exchange, and the tokenization platform Backed, to create connections between traditional equities and blockchain networks.
Intercontinental Exchange, which owns the New York Stock Exchange, has also partnered with Securitize to expand its tokenization strategy. This collaboration focuses on developing infrastructure for onchain stocks and exchange-traded funds (ETFs), targeting 24/7 trading accessibility and instant settlement.
In parallel, the Depository Trust & Clearing Corporation (DTCC), the main post-trade infrastructure provider for US securities markets, is working on its tokenized Collateral AppChain platform. This initiative is designed to automate collateral management and settlement across financial markets.
Mini dictionary: Pyth is a decentralized financial oracle network that delivers real-time financial market data to blockchain applications.
InstitutionBlockchain initiativeObjectiveInjectiveSEC transfer agent registrationOnchain securities record-keepingNasdaqPyth network partnershipMarket data distribution to blockchainIntercontinental ExchangeSecuritize collaborationOnchain stocks and ETFs, 24/7 tradingDTCCCollateral AppChainAutomated collateral managementDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Injective, the layer-1 blockchain built for financial applications, has submitted Form TA-1 to the US Securities and Exchange Commission to register as a transfer agent. The filing, announced on July 16 at the Injective Summit in Washington, D.C., would create a regulated pathway for maintaining official ownership records of tokenized securities directly on its blockchain.
What transfer agent registration actually means Under current SEC rules, transfer agents manage securityholder records and ensure those records hold up under federal securities law. Without it, tokenized securities are just fancy database entries with no legal teeth.
The SEC has been exploring how to modernize its transfer-agent regulations to incorporate distributed ledger technology. Injective is positioning itself to be the first blockchain-native platform ready to fill that role the moment regulators give the green light.
Advertisement
The numbers behind the push As of mid-2026, Injective has facilitated $4.15 billion in tokenized equities trading volume.
Alongside the SEC filing, Injective also published a MiCA whitepaper aimed at European regulatory compliance. The dual-front approach, pursuing both US and EU regulatory frameworks simultaneously, signals that the protocol isn’t just chasing American approval.
Why this matters for the tokenization market Most tokenized assets still rely on offchain intermediaries for the legally binding parts. The tokens represent ownership on a blockchain, but the actual records that courts recognize often live in traditional systems.
If Injective’s registration is approved, ownership records for tokenized securities would live natively onchain, and those records would carry the same legal enforceability as records maintained by traditional transfer agents like Computershare or Broadridge.
Most competing protocols are tokenizing assets and then relying on third-party transfer agents to handle the regulatory side. Injective is trying to vertically integrate that entire stack.
SEC registration processes aren’t known for their speed. Form TA-1 filings undergo review, and the agency can request additional information or modifications before granting registration. There’s no guaranteed timeline.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Robinhood Crypto has added Injective Protocol’s native token, INJ, to its trading platform, making the DeFi-focused asset available for spot trading among eligible US users. The listing went live on July 16, with INJ trading in the range of roughly $4.76 to $5 and carrying a market capitalization near $494 million.
What Injective actually does Injective is a layer-1 chain built specifically for finance, with a focus on decentralized trading, tokenization, and cross-chain interoperability.
The INJ token serves multiple roles within this ecosystem. It functions as the governance token, giving holders voting rights on protocol decisions. It also powers the network’s staking mechanism, where validators and delegators lock up INJ to secure the chain and earn rewards. And it handles fee payments across the platform’s various financial applications.
Advertisement
The Injective team has also been active on the supply side. A recent token burn destroyed 43,500 INJ, reducing the circulating supply.
Why this listing matters beyond the ticker Injective recently launched US-regulated futures contracts on Bitnomial, signaling that the project is actively pursuing institutional-grade market infrastructure alongside retail accessibility. Having both a regulated futures market and a major retail trading platform offering the same asset creates a more complete market structure.
Robinhood itself has been developing Robinhood Chain and exploring tokenized stock offerings, positioning itself as a participant in the broader tokenization movement. Adding INJ, a token from a chain that specializes in financial infrastructure, fits into that strategic direction.
What this means for investors INJ’s current price range of $4.76 to $5 sits well below its historical highs, which means new Robinhood buyers are entering at a point where the token has already experienced significant drawdowns.
For those already holding INJ, the Robinhood listing removes one of the persistent complaints about mid-cap DeFi tokens: accessibility. The asset is no longer something you need a crypto-native wallet or a specialized exchange to acquire. That broader distribution channel could prove valuable as the project pursues AI-driven economies and deeper real-world asset integration within its infrastructure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Key HighlightsStrategic equity stake fuels nuclear innovationMilestone achievements position Blue Energy for growthRising electricity needs drive nuclear technology adoptionGet 3 Free Stock Ebooks Constellation commits capital to Blue Energy’s small modular reactor initiative Blue Energy pursues innovative prefabrication approach for nuclear facilities Deal enables deployment of GE Vernova’s BWRX-300 reactor technology Texas nuclear facility planned with site work beginning in 2026 CEG stock declined 3.34% following strategic investment announcement Constellation Energy Corporation (CEG) stock dropped 3.34% to $249.49 even as the company revealed a significant investment in Blue Energy. This capital injection aims to accelerate small modular reactor deployment through an innovative approach combining advanced financing with streamlined construction techniques. The move strengthens Constellation Technology Ventures’ position in next-generation nuclear power development nationwide.
Constellation Energy Corporation, CEG
Strategic equity stake fuels nuclear innovation Constellation Technology Ventures has committed equity funding to Blue Energy in support of the developer’s ambitious nuclear generation plans. This marks the venture division’s inaugural investment in a domestic small modular reactor developer. The commitment reinforces Constellation’s mission to broaden access to dependable carbon-free electricity generation.
Blue Energy’s strategy centers on applying shipyard-style manufacturing techniques to nuclear facility construction for enhanced efficiency. The company seeks to merge established reactor designs with innovative project financing structures to minimize construction risks. This methodology promises accelerated timelines and enhanced budget certainty for nuclear projects.
The collaboration specifically advances Blue Energy’s efforts to implement the GE Vernova Hitachi BWRX-300 reactor platform. Constellation manages America’s most extensive nuclear generation portfolio and contributes decades of operational knowledge. This relationship provides Blue Energy with critical industry insights and commercial deployment capabilities.
Milestone achievements position Blue Energy for growth Blue Energy addresses longstanding financial and construction obstacles that have hindered nuclear project advancement for decades. The developer employs large-scale robotic prefabrication techniques borrowed from offshore energy and LNG infrastructure sectors. These methods are designed to enhance project delivery and attract investment capital.
Blue Energy successfully raised $380 million earlier this year while forging a strategic alliance with GE Vernova. The partners aim to create a multi-gigawatt gas-to-nuclear conversion project integrating gas turbines with BWRX-300 reactors. This initiative facilitates the shift toward sustainable nuclear power generation.
The company achieved a crucial regulatory advancement with U.S. Nuclear Regulatory Commission approval in recent months. This authorization advances its staged gas-to-nuclear conversion approach and implementation timeline. Blue Energy anticipates commencing preliminary site activities in Texas throughout 2026 ahead of pursuing final investment authorization in 2027.
Rising electricity needs drive nuclear technology adoption Electricity consumption keeps climbing due to manufacturing expansion, transportation electrification, and proliferating data center development. Power providers increasingly examine advanced nuclear solutions to deliver consistent, emissions-free electricity. Small modular reactors attract attention for offering flexible capacity additions with repeatable manufacturing processes.
Constellation has persistently broadened its clean energy portfolio through strategic investments complementing its current nuclear assets. The organization generates more zero-carbon electricity than any competing American energy company through its reactor fleet. Beyond maintaining existing facilities, the company actively investigates technologies that can bolster future generation capabilities.
The Blue Energy commitment demonstrates mounting industry focus on achievable deployment frameworks rather than experimental reactor designs. The alliance merges utility operational expertise, validated reactor platforms, and novel construction approaches within a unified development framework. Both organizations aim to expedite commercial nuclear rollout while enhancing financing accessibility for upcoming small modular reactor initiatives.
ZachXBT says an old iPhone beats any hardware wallet for storing crypto. Tornado Cash developer Roman Storm agrees, but says one missing feature breaks the whole iPhone wallet plan.
That feature is the BIP39 passphrase. It is a secret extra word that hides your real wallet behind an empty one.
The One Feature the iPhone Wallet Plan Is MissingThe on-chain investigator’s frustration has a track record behind it. Bybit lost $1.5 billion in February 2025 after attackers tricked its signers into approving a bad transaction. The keys stayed safe. The money is still left.
“All hardware wallets are complete garbage and I do not advise using them for important tasks like signing transactions or storing funds. Much better to have a separate iPhone with its only purpose being to use as your hardware wallet,” ZachXBT noted.
Follow us on X to get the latest news as it happens
Storm liked the idea. However, his reply comes with a warning.
“I’d agree – if there were actually a mobile app with BIP39 passphrase support.”
Here is why that matters. Your seed phrase is 12 or 24 words, usually written on paper. Add a passphrase, and those same words open a completely different wallet.
So a thief who finds the paper sees an empty account. One UK holder lost roughly $172 million after his Trezor recovery phrase appeared on home CCTV. A passphrase would have made that recording worthless.
The threat is growing, too. Chainalysis logged 158,000 personal wallet compromises in 2025, nearly triple 2022’s count. Those attacks hit 80,000 victims for $713 million. Moreover, one seed phrase vulnerability alone drained $3.1 million this month.
Hardware Wallets Have It. Mobile Wallets Don’tStorm listed the split. Trezor, Ledger, Coldcard, Keystone, and BitBox all support passphrases. Meanwhile, MetaMask has ignored requests since 2021. Trust Wallet skips it, too. Rabby only offers it on desktop, leaving AirGap Vault as the lone mobile option.
His fix is simple. Mobile wallets should support passphrases and air-gapped signing, so the phone never connects to the internet. Trail of Bits research backs the same principle of capping losses when keys leak.
There is a downside, though. Casa co-founder Jameson Lopp warned in an interview that people often lose their passphrases and lock themselves out forever.
The threat is not just thieves. Hong Kong can already force travelers to unlock phones and wallets at the border.
Trezor Pushes Back on the Phone-as-Vault PlanTrezor is not conceding the point. Like Storm, Danny Sanders, the company’s chief commercial officer, praised ZachXBT’s detective work but rejected the swap.
Sanders argued that phones are general-purpose devices with too many doors. Zero-click exploits are a documented reality, he noted.
Love ZachXBT's detective work, but of course I kindly disagree here 🙃.
A dedicated iPhone is an interesting hot wallet upgrade, but it's still a general-purpose device. And assuming everyone can execute this setup really well is a big generalisation.
Why an iPhone can't… https://t.co/Qtp1y15krY
— Danny @Trezor (@Dantoshi) July 16, 2026 A hardware wallet also acts as an independent second screen. If a phone is compromised, nothing separates checks from what you sign.
He added that creating seed words on a phone risks iCloud backups and clipboard leaks. Even the battery works against the plan. An iPhone stored for years can degrade, and reviving it needs Apple’s activation servers and an Apple ID.
Storm, who awaits a retrial in his Tornado Cash case, put the ball in wallet makers’ court. If MetaMask or Trust Wallet adds the field, millions of old phones could become real crypto vaults.
What's Important This Week
⚙️ Robinhood Chain Mainnet is Now Live on the Arbitrum Platform
💳 ZeroDev Launches a New Wallet
🇬🇧 Founder House London Concludes with $300K Awarded
📣 Announcements Key updates from the Arbitrum ecosystem and Foundation.
Robinhood Chain Mainnet is Live
The launch of Robinhood Chain enables a more customized infrastructure designed to satisfy precise performance, security, and regulatory requirements. This environment establishes a robust foundation for the integration and development of decentralized financial primitives.
Introducing ZeroDev Wallet 0:00
/0:56
ZeroDev Wallet is an embedded wallet built on ZeroDev’s programmable account infrastructure. It gives teams one stack for wallet creation, signing, smart account execution, gas sponsorship, session keys, policies, recovery options, and transaction orchestration.
Meet the Winners of Founder House London
From more than 490 registrations, 140 founders were selected to join Founder House London for three days of targeted sessions and iteration on product-market fit and go-to-market alongside mentors from across the Arbitrum ecosystem. By the end of the program, teams had submitted 64 projects competing for a share of $300,000 in prizes and grants.
📚 Learn & Build New learning drops and hands-on resources from across the Arbitrum ecosystem.
Predictable Fees for Onchain Agents
As agentic commerce grows, predictable fees become increasingly important.
This article breaks down why predictable fees matter for agentic commerce, how gas pricing works, and how Arbitrum’s dynamic pricing is evolving to support this next wave of onchain demand.
Build Your First Robinhood Chain App
Want to get started in building on the Robinhood Chain? This article from @hummusonrails features a full walkthrough from code design to final deployment of your first dApp on Robinhood!
Arbitrum Supports x402 and MPP For Agentic Finance
Developers now have two new pathways for building agentic payment and settlement flows on Arbitrum. Arbitrum is supported by Coinbase’s hosted x402 facilitator, and Offchain has published arbitrum-mpp, an open-source implementation for making payments over MPP on Arbitrum.
How Smart Accounts Give Onchain AI Agents Safe Permissions
Agents need the ability to act. They also need boundaries. Smart accounts make that possible by moving permissions, policy, and enforcement to the account layer.
🔦 Ecosystem Highlights Fresh launches and standout threads from around the Arbitrum ecosystem.
$800K in Revenue in the Last 7 Days
Robinhood Chain generated more than $800K in revenue in the last 7 days, annualizing to $42M at this rate.
Introducing Swaps by Variational
Variational just launched Swaps, bringing Wall Street's widely used trading infra onchain with institutional liquidity for tokenized markets. A big step for @variational_io toward bringing TradFi into the programmable economy.
Rialto Goes Live on Robinhood Chain
We’re excited to welcome @rialto_xyz, an onchain exchange for trading and borrowing against tokenized equities, crypto and real-world assets, launched on the Robinhood Chain.
Prism is Live on Arbitrum 0:00
/0:16
Arbitrum is building the finance-native platform for the programmable economy. Prism is where the pieces of Arbitrum’s financial stack start coming together.
🛠️ Dev Tooling & Infra Updates to SDKs, CLIs, and developer workflows across the stack.
ZeroDev Wallet SDK
What does a smart-account-first embedded wallet SDK actually unlock?
ZeroDev breaks down 5 product flows to build with the ZeroDev Wallet SDK.
🗓️ Events Workshops, builder and founder programs, and ecosystem meetups to watch.
Recap: Founder House London If you’re a founder who missed the ultimate in-person mentorship experience, here’s a look at what went down at Arbitrum Founder House London 🇬🇧
We've brought teams together under one roof for a 3-day founder residency where they:
Built new financial products across tokenized capital markets, collateral and risk infrastructure, payments, tokenized equity, agentic finance and yield bringing products onchain via Arbitrum One and the Robinhood Chain Refined their product & GTM strategies Received mentorship from our ecosystem partners Competed for $300k in prizes Catch the highlights. 👇🏻
0:00
/0:58
To keep up with upcoming builder programs, funding opportunities, and ecosystem updates, subscribe to the Builder Newsletter.
What builders are debating and proposing this week.
[Constitutional] AIP: Ratification of Security Council Election Process Improvements In September 2025, the ArbitrumDAO showed varying degrees of support for five Security Council Election process improvements via a temperature check. This updated temperature check aims to ratify the DAO’s support for the inclusion of four and omission of one of the originally proposed improvements, ahead of an on-chain vote.
ArbitrumDAO Factsheet: Robinhood Chain Mainnet Launch Robinhood Chain went live on public mainnet on 1 July 2026, a dedicated Arbitrum chain settling to Ethereum, after a testnet that processed more than 200 million transactions.
Sedona, a self-custodial trading platform migrating to Arbitrum, is excited to announce its strategic partnership with Fhenix, a platform that computes sensitive data with full encryption. The purpose of this partnership is to replace Sedona’s existing Trusted Execution Environment (TEE)-based security model with fully Homomorphic Encryption. Basically, both firms specialize in protecting confidential data.
This integration powers private finance on Arbitrum, ensuring that user balances, portfolio positions, and Artificial Intelligence (AI) agent spending limits remain encrypted by default. Furthermore, Sedona was founded by Tyler Maxwell, a trading-first, self-custodial neo-bank that facilitates spot trading, perpetuals, and sketched products. Both platforms are expert in providing their services all over the world in terms of security and protection.
Fhenix and Sedona Advance Cryptographic Privacy for On-Chain Finance Guy Itzhaki, CEO of Fhenix, admires Sedona in good words. He said, “Sedona is exactly the kind of application Confidential FHE was built for. Trading platforms and financial applications need privacy that extends beyond transactions to balances, positions, and increasingly the parameters that autonomous agents operate within.”
“By moving from trusted hardware to cryptographic guarantees, Sedona is showing how confidential finance can become a native capability on Arbitrum rather than an optional feature. We believe this partnership is an important step toward making privacy a default expectation for on-chain financial applications.”
Now, Sedona is shifting from the Seismic ecosystem to Arbitrum. Once that migration is finished, Sedona will deploy Fhenix’s CoFHE infrastructure, moving the platform’s privacy model from hardware-based trust assumptions to cryptographic guarantees. This integration is the first-type in its nature.
Replacing Hardware Trust with Fully Homomorphic Encryption The landmark integration of Sedona and Fhenix is much more worthy for users and developers. Existing private Decentralized Finance (DeFi) solutions primarily depend on trusted execution environments, which only require users to depend on underlying hardware or on community-based models. Homomorphic encryption permits computations to be performed directly on encrypted data, diminishing those trust dependencies.
Tyler Maxwell, Founder of Sedona, also clarifies this integration. He said, “We started with TEEs because they were the most practical way to deliver privacy, but our goal has always been to remove trust assumptions wherever possible. Fully homomorphic encryption lets us protect sensitive financial data through mathematics rather than hardware, providing a much stronger foundation for the future of self-custody. “
“For many of our users – especially those in emerging markets who rely on stablecoins as their primary savings account and payment rail- financial privacy isn’t a luxury. It’s an expectation. Bringing FHE to Sedona means they can manage their assets, automate strategies, and use AI-powered tools without exposing the information that matters most.”
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Let me tell you what happens today on the highway we wrote about two days ago. Around 92 million new ARB tokens leave their vault, right as the token trades within sight of the all-time low it printed in late June. Unlock is the scariest word in a falling token’s vocabulary. But read the shipping label on this particular delivery, because where the tokens go matters more than how many there are.
ARB traded at $0.08989 on July 14 per this site’s tracking, and holds near the $0.09 area as the unlock lands on July 16, 2026, per CoinGecko. The token sits just above the all-time low set in late June, after our coverage this week flagged its 13.8% bounce as the rotation reaching the layer-2 shelf.
The Unique Angle: read the label, not the headline Here is the detail the word “unlock” hides. Today’s release of roughly 92 million ARB, about 1.65% of released supply, is directed to the Arbitrum DAO treasury, according to the project’s published vesting schedule. Not to team wallets. Not to early investors.
Why that distinction is the whole story: unlock damage comes from tokens that want to be sold. When vesting cliffs release coins to insiders and venture funds, history is unambiguous. Arbitrum’s own May 2024 unlock is the textbook case: 92.65 million ARB went to team, advisors and investors, portions flowed straight to exchanges, and the price slid on schedule. Those tokens had sellers attached.
Treasury tokens are different animals. They land in the DAO’s vault and sit there until governance votes to spend them on grants, incentives or operations. No fund manager is waiting to market-dump them this afternoon. The mechanical sell pressure from today’s event is close to zero on day one.
Now the honest other half, because unlocks earn their reputation two slower ways. First, treasury tokens are deferred supply, not cancelled supply: every grant and incentive program eventually turns some of them into sell flow, drip by drip, and that drip has run for years. Second, unlock headlines move prices all by themselves. Plenty of traders sell the word without reading the label, and in a token this beaten down, sentiment is the thinnest layer of all. Today can still print red for no mechanical reason whatsoever.
The One Number That Matters Roughly $8 million. That is the dollar value of today’s unlock at current prices, 92 million tokens times about nine cents.
Hold that against history. The May 2024 unlock of nearly identical token count was worth $92 million, because ARB traded above a dollar. Same event, one-tenth the dollar weight, and aimed at a vault instead of an exit. The number is small enough to say something bigger: after two years of decline, ARB’s unlocks have deflated from market-moving events into rounding errors. That is what capitulation pricing looks like from the supply side. Whether it also marks a bottom is a question the chart, not the calendar, will answer.
Key Levels The map from our prediction page stands. Support: $0.08, the line the whole recovery attempt rests on, now doubling as the post-unlock stress test. Resistance: the dime, $0.10, unchanged as the level where attention becomes conviction. Recent trading has also respected a tighter shelf near $0.078 on the downside. If unlock-headline selling appears, $0.08 is where it either exhausts or matters.
Supporting Context The paradox we built the ARB prediction page around got louder this month, not quieter. Robinhood launched the public mainnet of Robinhood Chain, a tokenized-stocks network built on Arbitrum’s own Orbit technology, with Uniswap integrated from day one. LG Electronics selected Arbitrum tech for a custom layer-2 aimed at advertising infrastructure. The network reports more than $18 billion in value secured. And the token that governs all of it trades within sight of its all-time low, at a $572 million cap as of this week’s reading.
Usage up, price down: the value-capture question in its purest form. Days like today feed both sides of it. Bulls point at institutions building on the highway; bears point at 92 million more tokens on a road where the toll still goes uncollected.
Bottom Line Today’s unlock is the mildest version of a scary event: small in dollars, aimed at a treasury, mechanically near-harmless on day one. The risks are the slow drip and the reflexive headline sellers, and $0.08 is the level that measures both. The story that actually matters is unchanged from our prediction page: the highway keeps winning tenants while the token waits to matter. Watch the dime above, the eight-cent line below, and let the post-unlock tape speak for itself.
This article is for information only and is not investment advice. Crypto assets are extremely volatile and you can lose your entire stake. Always do your own research.
Frequently Asked Questions What is the Arbitrum unlock today? Roughly 92 million ARB, about 1.65% of released supply, unlocks on July 16, 2026, directed to the Arbitrum DAO treasury under the published vesting schedule.
Will the ARB unlock crash the price? ARB trades near $0.09 as of July 16, 2026, just above the all-time low it set in late June, after a 13.8% bounce earlier this week.
Why is ARB so cheap if Arbitrum is widely used? The network secures over $18 billion and keeps winning institutional deployments like Robinhood Chain, but the market doubts how much of that value the governance token captures. That gap is the central ARB debate.
What are the key ARB levels to watch? Support at $0.08, with a tighter shelf near $0.078; resistance at the round $0.10. Holding $0.08 through the unlock would be the constructive outcome.
When is the next Arbitrum unlock? Arbitrum runs recurring monthly unlocks through 2027 under its vesting schedule. Check the official Arbitrum Foundation documentation for the next scheduled date and allocation.
AUTHOR
Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.
Blockchain security firm PeckShield now puts the drain on Arbitrum perpetuals protocol Ostium at roughly $24M, above the up-to-$18M first estimated.
The exploiter who drained Ostium, a real-world-asset perpetuals protocol on Arbitrum, has moved 10,540 ETH into Tornado Cash, blockchain security firm PeckShield said in a post on Thursday.
PeckShield reported that Ostium's public OLP vault "has been drained of ~$24M $USDC." The firm said the exploiter swapped the stolen stablecoins for 12.08K ETH and had "deposited 10,540 $ETH to #TornadoCash so far," indicating laundering was still underway.
The $24 million figure is higher than the up-to-$18 million loss reported when the exploit first surfaced. The revised total from PeckShield reflects continued tracing of the drained funds rather than a separate incident.
PeckShield said the exploiter "originally funded Wallet 0x321D...8bfD9 with 1 ETH from #ChangeNow and 1 ETH from #Bybit." ChangeNow is a non-custodial exchange service and Bybit is a centralized exchange.
A diagram accompanying the post traces USDC amounts of 26.4 million and 23.4 million to the attacker's deployed wallet, a swap into 12,086 ETH, and 10,540 ETH sent onward to Tornado Cash. A second image, a blockchain explorer table, shows a series of 100 ETH deposit transactions leaving an intermediary address and an inbound transfer of 784.66 ETH from an address labeled "Ostium Exploiter 3."
Ostium's total value locked stood at $37.80 million, all on Arbitrum, according to DefiLlama datay.
The Defiant previously reported that Ostium halted trading after an oracle exploit drained the vault.
Trading-first neo-bank migrates from Seismic to Arbitrum, replacing TEE-based security with Fully Homomorphic Encryption across balances, positions and AI agent limits. Sedona, a self-custodial trading platform and neo-bank, has announced a partnership with Fhenix to integrate Confidential FHE (CoFHE) infrastructure into its Arbitrum-based platform. The integration will replace Sedona’s existing Trusted Execution Environment (TEE)-based security model with Fully Homomorphic Encryption, ensuring that user balances, portfolio positions and AI agent spending limits remain encrypted by default. The partnership was announced today; the technical integration is ongoing.
“Sedona is exactly the kind of application Confidential FHE was built for. Trading platforms and financial applications need privacy that extends beyond transactions to balances, positions and increasingly the parameters that autonomous agents operate within. By moving from trusted hardware to cryptographic guarantees, Sedona is showing how confidential finance can become a native capability on Arbitrum rather than an optional feature. We believe this partnership is an important step toward making privacy a default expectation for onchain financial applications,” said Guy Itzhaki, CEO of Fhenix.
Sedona, founded by Tyler Maxwell, is a trading-first, self-custodial neo-bank offering spot trading, perpetuals and structured products. The platform is currently migrating from the Seismic ecosystem to Arbitrum. Upon completion of that migration, Sedona will deploy Fhenix’s CoFHE infrastructure, shifting the platform’s privacy model from hardware-based trust assumptions to cryptographic guarantees.
The distinction matters for users and developers. Existing private DeFi solutions typically rely on trusted execution environments, which require users to trust the underlying hardware, or on committee-based models, which require trust in a set of operators. Fully homomorphic encryption allows computations to be performed directly on encrypted data, removing those trust dependencies. Under the integrated model, Sedona users will have encrypted balances, private portfolio positions and AI agent spending limits that remain hidden even from the agents executing within them.
“We started with TEEs because they were the most practical way to deliver privacy, but our goal has always been to remove trust assumptions wherever possible. Fully homomorphic encryption lets us protect sensitive financial data through mathematics rather than hardware, providing a much stronger foundation for the future of self-custody. For many of our users – especially those in emerging markets who rely on stablecoins as their primary savings account and payment rail: financial privacy isn’t a luxury. It’s an expectation. Bringing FHE to Sedona means they can manage their assets, automate strategies, and use AI-powered tools without exposing the information that matters most,” said Tyler Maxwell, Founder of Sedona.
About Fhenix Fhenix is building a full-stack privacy infrastructure powered by Fully Homomorphic Encryption (FHE). It enables encrypted smart contracts on-chain so developers can build financial applications that protect user data, strategies, and transactions, without sacrificing composability. Starting with a focus on DeFi, Fhenix plugs into Ethereum, Arbitrum and Base, making confidentiality a native primitive for trading, stablecoins, and collateral. Fhenix’s mission is simple: bring FHE everywhere, so institutions, developers, and users can transact with confidence in an open but protected financial system.
About Sedona Sedona is a trading-first, self-custodial neo-bank designed to give users greater control over how they trade, save, and manage digital assets. Founded by Tyler Maxwell, the platform combines spot trading, perpetuals, and structured products with privacy-preserving infrastructure built for onchain finance. Sedona is currently migrating from the Seismic ecosystem to Arbitrum, where it will integrate Fhenix’s Confidential FHE (CoFHE) infrastructure to replace TEE-based security with fully homomorphic encryption. This architecture ensures that user balances, portfolio positions, and AI agent spending limits remain encrypted by default, enabling confidential, self-custodial financial services without relying on trusted hardware.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
A wallet cluster tracked on-chain as Entity X has lifted its total Kaspa ($KAS) position to 1.47 billion tokens, valued at approximately $42.9 million at current prices, making it the largest known non-exchange holder on the Kaspa network.
Fresh Inflows From Major Exchanges The latest leg of accumulation included a fresh inflow of 6.8 million $KAS drawn from liquidity pools at @Bybit_Official, @Gate, and @Bitget. The movement confirms a pattern of deliberate, exchange-sourced buying rather than peer-to-peer transfers, suggesting the entity is actively pulling tokens off trading venues and into cold or self-custodied storage.
On-chain data shows accumulation patterns consistent with whale positioning ahead of a known catalyst, a familiar playbook in crypto, but one that tends to accelerate when the underlying technical event is concrete rather than speculative. The @kaspaunchained ecosystem has been scaling toward a broader network upgrade, adding a layer of context to the timing of these moves.
Why the Kaspa Network Is Drawing Attention Kaspa has carved out a unique place in the cryptocurrency space as a pure proof-of-work Layer 1 blockchain built on a blockDAG (Directed Acyclic Graph) structure rather than a traditional linear chain. While Bitcoin processes a single chain of blocks and discards competing ones as orphans, Kaspa's BlockDAG architecture weaves those competing blocks into the ledger itself, enabling parallel block processing at a speed that no other proof-of-work network comes close to matching.
The Toccata hard fork successfully activated on Kaspa's mainnet, marking its most significant upgrade. It transitions the network from a high-speed proof-of-work payments chain to a programmable base-layer blockchain, introducing native Layer-1 covenant systems for expressive smart contracts, zero-knowledge proof verification opcodes, and support for KRC-20 tokens, all without requiring a global virtual machine.
Following that upgrade, the network is set to scale throughput through a series of structured block rate increases, moving from the current 10 blocks per second to 25 BPS, then to 40 BPS, and ultimately targeting 100 BPS as its long-term objective. On-chain data cited by analysts indicates declining Kaspa token balances on cryptocurrency exchanges, suggesting increased movement into self-custody wallets, a pattern interpreted as indicative of long-term holding behavior rather than active trading activity.
Whether Entity X represents a single institutional player or a coordinated group remains unknown. What the on-chain record shows clearly is a sustained, directional bet on the network at scale.
Sources:
Kaspa Roadmap 2026-2027: Every Upgrade Explained, Our Crypto Talk
Kaspa touted as 2026 altcoin standout with PoW BlockDAG edge, Crypto News
Kaspa Exchange Holdings On-Chain Data, Kaspalytics
Visa's Stablecoin Platform packages OUSD access, wallet infra, and treasury integration for institutions entering crypto.
Listen
0
0:00 0:00
Subscribe to Bankless or sign in
Visa announced the Visa Stablecoin Platform (VSP) today, an enterprise environment where banks, fintechs, and crypto firms can mint, hold, transfer, and redeem stablecoins in one hub, with the forthcoming Open USD (OUSD) as its first supported token.
What's the Scoop?The offering: VSP bundles Wallet-as-a-Service infrastructure with enterprise-grade guardrails like dual-approval workflows, audit logging, passkeys, and transfer allow lists. Institutions get stablecoin plumbing that plugs into the Visa treasury, settlement, and money-movement tools they already run.OUSD front and center: The platform is launching with direct connectivity for minting and burning Open USD, the consortium stablecoin backed by +100 firms (Visa, Stripe, Mastercard, BlackRock, and Coinbase among them) that will share nearly all its reserve yield with distributors. OUSD itself is slated to go live later this year.Zooming out: A day after Stripe's PayPal takeover bid exposed a potential arms race for stablecoin distribution, the card network being bypassed is arming its 200M merchant empire with mint-and-burn buttons. If the interchange moat must shrink, then Visa can become a tollbooth on whatever replaces it.
0
Written by Bankless
796 Articles • View all
It’s time to break up with your bank, and join the movement for a better world.
Key Highlights J.B. Hunt delivered Q2 earnings per share of $1.91, representing a 45% year-over-year increase and surpassing analyst expectations of $1.74 Total revenue reached $3.5 billion, marking a 19% increase and exceeding consensus estimates of $3.25 billion Shares surged up to 9.5% during after-hours trading and climbed 7.1% in premarket sessions to $296 The intermodal division led performance with 22% revenue growth and a remarkable 58% increase in operating income Citi’s Ariel Rosa upgraded his price target from $278 to $309, pointing to strengthening supply-demand dynamics J.B. Hunt Transport Services delivered robust second-quarter results that captured investor attention. Shares spiked as high as 9.5% during Wednesday’s after-hours session following the earnings release, maintaining a 7.1% gain in premarket activity Thursday morning at $296.
J.B. Hunt Transport Services, Inc., JBHT
Earnings per share reached $1.91, climbing 45% from the prior year’s $1.31. Total revenue touched $3.5 billion, representing a 19% increase from the year-ago figure of $2.93 billion. Both metrics exceeded Wall Street projections of $1.74 per share and $3.25 billion in sales.
Operating income advanced 32% to $259.5 million, fueled by stronger revenue performance, enhanced productivity measures, and strategic cost management initiatives.
FY26 Guide:
🔹 Annual Effective Tax Rate: 24.0% to 24.5%
Segment Net Revenue:
🔹 Intermodal:…
— Wall St Engine (@wallstengine) July 15, 2026
The intermodal division emerged as the quarter’s star performer. This segment generated $1.75 billion in revenue—representing a 22% year-over-year gain—while operating income jumped 58% to $150.9 million. Shipment volume increased 10%, benefiting from elevated fuel prices and constrained trucking capacity that directed more shippers toward rail-based transportation.
Eastern network volumes expanded 16%, while transcontinental shipments rose 5%.
The Dedicated Contract Services division also demonstrated solid results, recording 9% revenue growth to $921 million with operating income advancing 9% to $102.5 million.
Integrated Capacity Solutions turned profitable with $1.7 million in operating income compared to a $3.6 million loss in the prior-year period, supported by revenue of $388 million—a 49% jump.
Challenges in Select Segments Not all divisions performed equally. The Truckload division recorded a $1.3 million operating loss despite revenue soaring 35% to $240 million, as elevated purchased transportation expenses offset revenue gains.
Final Mile Services represented the weakest area, with revenue declining 6% to $198 million and operating income dropping 30% to $5.6 million. Management attributed the downturn to anticipated customer losses related to strategic initiatives aimed at enhancing revenue quality.
CEO Shelley Simpson attributed the strong performance to strategic investments in workforce, technology infrastructure, and capacity expansion. During the earnings conference call, she emphasized that industry capacity constraints stemmed from supply-side reduction rather than dramatic demand increases.
Wall Street Response Citi’s Ariel Rosa elevated his price target to $309 from $278, describing the quarter as one with “much to like.” He emphasized improving supply-demand fundamentals, market share expansion, operational efficiency gains, and a robust sales pipeline. While maintaining his Hold rating, Rosa suggested the results signal positive trends for the broader U.S. transportation industry.
The consensus analyst price target now stands at approximately $302, climbing roughly $8 following the earnings announcement. Twelve months ago, that consensus averaged around $158.
At present valuation levels, JBHT trades at approximately 31 times forward earnings, elevated from roughly 24 times a year earlier. Entering Thursday’s session, the stock had already gained 42% year-to-date and more than 80% over the trailing twelve months.
Throughout the quarter, the company repurchased approximately 392,000 shares for roughly $98 million. Total outstanding debt as of June 30 stood at $1.15 billion, down from $1.72 billion in the comparable year-ago period.
ARK pushes back against a16z’s ‘TradFi wants blockchain, not DeFi’ claimARK Invest’s director of research disputed a16z crypto’s thesis that traditional finance will adopt permissioned blockchain infrastructure instead of decentralized finance, saying institutions will increasingly rely on DeFi rails.
ARK Invest’s director of research pushed back against investor a16z crypto’s thesis that traditional finance will adopt blockchain through permissioned infrastructure rather than decentralized finance (DeFi).
Lorenzo Valente said in a Wednesday X post that public blockchains have already outperformed private blockchain initiatives, citing the growth of tokenized assets on Ethereum and other open networks.
He added that crypto-native firms such as Circle and Coinbase, rather than incumbent financial institutions, are best positioned to build the next generation of financial infrastructure.
A day earlier, a16z crypto had argued that traditional financial institutions are not embracing DeFi but selectively adopting blockchain technology that fits existing compliance, governance and operational requirements.
The venture capital firm’s X post said banks and asset managers will build “programmable financial infrastructure” that borrows blockchain primitives such as tokenization and atomic settlement while remaining permissioned and institutionally controlled.
Sentora co-founder Jesus Rodriguez also pushed back against a16z’s thesis, saying institutions are likely to adopt DeFi’s underlying infrastructure while layering compliance, custody and other enterprise controls on top.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
ARK pushes back against a16z’s ‘TradFi wants blockchain, not DeFi’ claimARK Invest’s director of research disputed a16z crypto’s thesis that traditional finance will adopt permissioned blockchain infrastructure instead of decentralized finance, saying institutions will increasingly rely on DeFi rails.
ARK Invest’s director of research pushed back against investor a16z crypto’s thesis that traditional finance will adopt blockchain through permissioned infrastructure rather than decentralized finance (DeFi).
Lorenzo Valente said in a Wednesday X post that public blockchains have already outperformed private blockchain initiatives, citing the growth of tokenized assets on Ethereum and other open networks.
He added that crypto-native firms such as Circle and Coinbase, rather than incumbent financial institutions, are best positioned to build the next generation of financial infrastructure.
A day earlier, a16z crypto had argued that traditional financial institutions are not embracing DeFi but selectively adopting blockchain technology that fits existing compliance, governance and operational requirements.
The venture capital firm’s X post said banks and asset managers will build “programmable financial infrastructure” that borrows blockchain primitives such as tokenization and atomic settlement while remaining permissioned and institutionally controlled.
Sentora co-founder Jesus Rodriguez also pushed back against a16z’s thesis, saying institutions are likely to adopt DeFi’s underlying infrastructure while layering compliance, custody and other enterprise controls on top.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Key Takeaways Cathie Wood’s ARK Invest purchased approximately 123,000 SpaceX shares valued at $17M across four ETFs on July 15 SpaceX shares had declined in seven out of the previous nine trading sessions, hovering near the $135 IPO price point An anticipated share unlock event representing 20% of total outstanding shares looms after second-quarter results SpaceX plans its 13th Starship test flight Thursday evening with plans to deploy 20 Starlink V3 satellites ARK divested from Deere & Co while reducing holdings in Twist Bioscience and 10X Genomics Cathie Wood’s ARK Invest acquired approximately 123,000 shares of SpaceX valued at roughly $17 million on July 15, 2026. The acquisition was distributed among four exchange-traded funds: ARKK, ARKQ, ARKW, and ARKX.
Space Exploration Technologies Corp., SPCX
This purchase occurred during a downturn for SpaceX shares. The stock had experienced losses in seven of the nine trading sessions leading up to Thursday, trading merely 27 cents above its $135 initial public offering price. During premarket hours, the stock temporarily fell beneath that threshold to $134.94.
Within ARK’s primary Innovation ETF, SpaceX represents the sixth-largest position, accounting for approximately 4.4% of total assets. Tesla continues to hold the top spot in that portfolio.
Factors Behind SpaceX’s Recent Decline The stock has faced pressure from two primary sources. The first concern centers on valuation: SpaceX currently trades at roughly 45 times projected 2026 revenue, a multiple that certain market participants consider elevated.
The second issue involves an impending share unlock. Approximately 20% of total shares held by initial investors will become tradeable following the company’s Q2 earnings announcement, expected within weeks. This pending supply increase has created hesitation among some investors.
Nonetheless, ARK chose to expand rather than reduce its stake. The investment firm has consistently accumulated SpaceX shares during recent trading periods.
Thursday Evening Marks Starship Test 13 The chronology of ARK’s stock purchase coincides with a significant milestone for SpaceX. The company has scheduled its 13th Starship rocket test flight for Thursday evening at approximately 6:45 p.m. Eastern time.
This mission will endeavor to deploy 20 Starlink V3 satellites utilizing Starship’s upper stage. Additionally, the upper stage will attempt to reignite a single Raptor engine while in orbit before descending through the atmosphere for a splashdown in the Indian Ocean.
Starship features a design capacity to transport up to 150,000 kilograms to orbit while dramatically reducing costs. In contrast, the reusable Falcon 9 rocket handles approximately 25,000 kilograms at about $1,500 per kilogram. A completely reusable Starship aims to slash that expense by roughly 90%.
Starship has not yet achieved operational status. However, a positive test outcome could boost investor confidence surrounding the stock.
Regarding portfolio reductions, ARK disposed of 6,833 Deere & Co shares valued at approximately $4 million, extending a trend of decreasing exposure to the agricultural equipment manufacturer. ARK also sold positions in Twist Bioscience and 10X Genomics, while acquiring stakes in Beam Therapeutics and Kratos Defense.
SpaceX shares declined approximately 0.2% during Thursday’s premarket trading session.
ARK Invest has challenged a16z crypto’s view that traditional financial institutions will mainly adopt controlled blockchain systems rather than decentralized finance.
Summary
ARK argues public blockchains will win institutional adoption as tokenized assets increasingly connect with DeFi. A16z expects banks to adopt blockchain primitives while keeping compliance, governance and operational control centralized. Standard Chartered forecasts mature DeFi protocols could capture much of the future tokenized asset activity. ARK director of research Lorenzo Valente called the argument “overly bearish and simplistic” in a response on X. He argued that public blockchains have already gained more traction than earlier private blockchain projects and that institutional finance will increasingly depend on infrastructure created by crypto-native companies.
I think @a16zcrypto is top notch out there but this is overly bearish and simplistic imo. Let me strawman the counterargument here.
Let's start with the historical analogies. The article invokes enterprise firewalls, private intranets, private cloud, FedRAMP etc to argue… https://t.co/dYB6STJsr1
— Lorenzo Valente (@LorenzoARK) July 15, 2026 A16z sees institutions choosing control over open access The debate began after a16z crypto published an essay titled “TradFi doesn’t want DeFi. It wants blockchains.” The firm argued that banks and asset managers will adopt blockchain features when they reduce costs, improve settlement or expand distribution without giving up control.
Under that model, institutions may use tokenization, programmable money and atomic settlement while limiting open access and pseudonymous participation. A16z described the emerging system as “programmable financial infrastructure” built around regulatory, risk and governance requirements rather than today’s fully permissionless DeFi model.
The firm did not argue that open networks will disappear. Its thesis says institutional blockchain systems and crypto-native DeFi can develop in parallel, with open networks continuing to create technology that regulated firms later adopt.
ARK argues public networks have already proved their value Valente’s counterargument centers on adoption already taking place on public blockchains. Tokenized funds, stablecoins and other financial assets increasingly operate on networks such as Ethereum rather than isolated private systems.
As previously reported, tokenized real-world assets had crossed $29 billion by April 2026. Tokenized US Treasury products alone reached about $13.4 billion, while more than 40 major financial institutions had launched or developed products using public blockchain infrastructure.
That growth supports part of ARK’s case, although institutional projects are not purely permissionless. Products can use public networks while placing restrictions on investors, wallets, custody and transfers. This allows firms to use shared blockchain infrastructure without adopting every feature associated with open DeFi.
DeFi protocols are gaining institutional connections Recent institutional activity also shows that the dividing line between DeFi and traditional finance is becoming less clear. Standard Chartered has forecast that $4 trillion in stablecoins and tokenized assets could move onchain by the end of 2028, with established DeFi protocols handling much of that activity.
As reported by crypto.news, the bank identified Aave, Compound and Morpho as potential beneficiaries as institutions move more assets onto blockchain networks. BlackRock’s BUIDL fund has also gained DeFi utility by serving as collateral and connecting with onchain markets.
Other blockchain ecosystems are adding controls directly to decentralized infrastructure.However, XRP Ledger developers have been working on permissioned trading and lending features designed for regulated institutions while maintaining onchain settlement.
Permissioned networks remain a competing model Traditional finance is also putting capital into systems designed specifically around institutional privacy and control. Canton Network has attracted banks and market infrastructure companies by offering permissioned access and privacy-focused settlement tools.
A crypto.news analysis previously examined the growing competition between Canton’s institution-focused model and Ethereum’s open infrastructure. The two approaches show that financial firms are testing both controlled systems and public blockchain rails rather than following one clear model.
The dispute between ARK and a16z therefore centers less on whether traditional finance will use blockchain and more on which infrastructure will carry the activity. A16z expects institutions to reshape blockchain technology around existing controls. ARK argues that public networks and DeFi protocols have already built liquidity and infrastructure that financial firms will find increasingly difficult to avoid.
PGL has locked in the details for its Bucharest Masters 2026, bringing 16 invited Counter-Strike 2 teams to Romania’s capital from October 24 to 31 to compete for a total prize pool of $1,250,000. The event will be held at PGL Studios in Bucharest, a venue that has become something of a home base for the tournament organizer’s flagship events.
Here’s the thing worth noting for anyone watching the intersection of gaming and digital assets: not a single crypto sponsor is attached to this tournament. In an industry where blockchain firms were once lining up to slap logos on jerseys and arena screens, the absence is loud.
Advertisement
Inside the tournament structure The $1.25M prize pool splits evenly between players and the organizations they represent. That means $625,000 goes directly to the competitors, with the other $625,000 allocated to the clubs fielding them.
All 16 teams are entering through invitation, with the invite and verified registration system (VRS) date set for July 6, 2026. That gives rosters roughly three and a half months to prepare before matches begin in late October.
Where crypto went in esports sponsorships Rewind a few years and crypto was everywhere in competitive gaming. FTX had its name on entire league partnerships. Crypto.com sponsored tournaments. Blockchain-native projects were pouring money into team jerseys, broadcast integrations, and naming rights. Then FTX collapsed, regulatory scrutiny intensified, and most of those deals evaporated.
Traditional sponsors, think hardware manufacturers, energy drinks, and telecom companies, have filled the gap without much trouble. That tells you something about demand versus supply in the sponsorship market. Esports doesn’t need crypto money to thrive.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
ADI Chain, a Layer-2 blockchain developed by the ADI Foundation to support governments and institutions, is pleased to announce its integration with ZIGChain, a Layer 1 blockchain built for wealth management and decentralized asset management. This partnership is aimed at advancing stablecoin-native infrastructure for real-world assets and productive on-chain finance.
The memorandum of understanding (MoU) was signed with ZIG Markets, the specific access and distribution layer within the ZIGChain ecosystem. This MoU provides a sketch for everyday business finance on-chain. The starting attention covers tokenized assets, supply chain finance, working capital for small and mid-sized firms, and tokenized private credit, along with stablecoins as the settlement layer.
ADI Chain and ZIGChain Strengthen On-Chain Capital Markets for Real-World Assets The integration of ADI Chain and ZIGChain is very beneficial for both partners, as ADI Chain participates to support high-quality Real-World Assets (RWAs) at an institutional scale for compliance, regulation, and policy framework. On the other hand, ZIG Markets covers essential aspects like origination, tokenization, vault infrastructure, and distribution across a built ecosystem of financial use cases.
Both platforms purposefully made this agreement to join ADI Chain’s settlement infrastructure with ZIG Markets’ tokenized capital markets abilities. With this, assets, liquidity, and distribution can shift across both ecosystems. RWA tokenization is greatly valuable from experiments to institutional infrastructure; RWA approached $19.32 billion at the close of Q1 2026, up 256.
Driving Innovation in Ethical Digital Asset Markets The MoU between ADI Chain and ZIGChain allows both firms to calculate a Shariah-compliant structure. Furthermore, ZIG Markets’ ecosystem already includes contributors like Zamanat and Nawa, who bring tokenization experience around ethical finance. This partnership covers many aspects and expands them, such as trade finance, treasury products, tokenized funds, and extra RWA classes.
Ramana Kumar, President of Stablecoin Ecosystem, ADI Foundation, said: “ADI Chain’s sovereign and Institutional-grade blockchain is best placed to bring high-quality RWAs on-chain to distribute across institutional, semi-institutional, family offices, funds, and retail investor base.”
“Through this MOU with the ZIGChain ecosystem, we’re utilizing our infrastructure and capabilities to build RWA tokens across trade and supply chain receivables, working capital, and private credit with better efficiency and speed compared to traditional financial systems and processes.”
ADI Chain and ZIGChain Advance the Future of Tokenized Real-World Assets The heads of both platforms gave a statement about this strategic partnership with golden words. Abdul Rafay Gadit, Co-founder, ZIGChain, said, “Real-world assets need more than tokenization; they need origination, capital formation, and distribution. ADI Chain contributes to the regulated settlement.”
“Receivables financing, working capital, private credit, these all need a partner that can structure the asset, bring it on-chain, and attract the right capital to really put it to work. That’s the gap ZIG Markets fills. Together, this is what on-chain capital markets infrastructure is supposed to look like: productive financial activity that institutions, builders, and users can access at scale.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Arthur Hayes, the founder of BitMEX and a closely followed figure in the cryptocurrency market, is reportedly continuing his Ethereum (ETH) purchases.
According to information shared by the on-chain data analysis platform Lookonchain, a wallet address believed to belong to Hayes purchased 1,293 Ethereum approximately two hours ago. The current market value of this purchase is estimated to be around $2.48 million.
According to Lookonchain’s analysis, there are a total of five different wallets believed to be linked to Arthur Hayes. The total Ethereum balance in these addresses has reached 4,353 ETH. Considering current market prices, the total value of these assets is approximately $8.35 million.
Arthur Hayes is a prominent figure in the cryptocurrency sector, known for his past market analyses and particularly his optimistic views on Ethereum. Recently, Hayes made positive statements regarding Ethereum’s long-term potential, arguing that the digital asset has significant growth potential with institutional adoption.
On-chain transactions by large investors are closely monitored by market participants. High-volume purchases, in particular, are considered by some investors to be a significant indicator of market expectations for institutional or professional investors.
However, experts point out that large wallet movements alone do not provide a definitive signal regarding price direction, and these transactions can also be carried out for different purposes such as portfolio management or wallet security.
Ethereum continues to be in the spotlight recently, both due to the increasing interest from institutional investors and the expansion of its use in decentralized finance (DeFi), tokenization, and projects aimed at transferring real-world assets to the blockchain.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Dana Gas has announced the shutdown of its main production facilities at the Khor Mor field in Iraq due to credible security threats amid rising regional tensions. This facility is a critical source of natural gas for the Kurdistan Region’s electricity grid. The suspension comes as tensions related to the U.S.-Israel-Iran conflict continue to disrupt Iraq’s oil sector, already impacted by previous closures and attacks. The current halt in operations threatens to significantly affect the region’s electricity supply, which depends heavily on output from Khor Mor.
Market participants appear to interpret this development as a potential catalyst for increased crude oil prices, particularly in the context of ongoing disruptions in Iraq’s oil production. The WTI Crude Oil market has seen active movements, with the likelihood of prices hitting higher targets in July showing varied shifts in percentage probabilities. The ongoing geopolitical tensions are a key factor driving these market reactions, as they could lead to further supply disruptions.
Advertisement
The pricing of WTI Crude Oil futures suggests a cautious outlook, with a 22.4% chance that prices will hit $90 by the end of July, reflecting a notable increase from previous estimates. This is consistent with concerns about sustained regional instability and its impact on global oil supply. However, the probability of reaching higher targets, such as $130, remains low at 1%.
Key Takeaways Markets suggest that the shutdown at Dana Gas’s Khor Mor field could lead to increased oil prices, reflecting concerns about supply disruptions. The probability of WTI Crude Oil hitting $90 in July has increased to 22.4%, indicating heightened market sensitivity to regional tensions. Ongoing geopolitical developments, particularly involving U.S.-Iran tensions, are critical drivers of current market expectations. What to Watch Market participants will closely monitor any announcements from key geopolitical actors, such as the U.S. and Iran, which could influence oil supply dynamics. Reports of further disruptions or resolutions in the conflict could significantly impact WTI Crude Oil pricing. OPEC+ decisions regarding production levels and updates on the Strait of Hormuz’s openness will also be pivotal in shaping market expectations.
Get live prediction-market analysis, powered by Vera. Sign up for Vera.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Key Takeaways Gold declined 0.7% to $4,030 per ounce amid persistent inflation worries driven by climbing oil prices June U.S. producer prices declined 0.3%, surpassing forecasts, yet traders disregarded the favorable report Continued U.S. military operations against Iranian facilities lifted crude oil for the fourth consecutive session Federal Reserve leadership, including Chair Kevin Warsh, reaffirmed dedication to achieving the 2% inflation objective Traders are closely monitoring upcoming Fed commentary for signals about future monetary policy adjustments Gold continued its downward trajectory on Thursday as escalating crude oil prices sustained inflation anxieties, eclipsing unexpectedly favorable U.S. wholesale price figures.
As of 06:05 ET, spot gold decreased 0.7% to $4,030.37 per ounce. Gold futures contracts declined 0.4% to $4,037.10. Silver tumbled 1.7% to $56.78, while platinum shed 0.6% to reach $1,667.20.
Gold Aug 26 (GC=F) The precious metals selloff occurred even as data revealed U.S. producer prices contracted 0.3% in June, significantly better than consensus estimates for no movement. This report came on the heels of more moderate consumer price data released earlier in the week.
Collectively, these statistics indicated cooling price pressures. However, market participants largely ignored the encouraging signals.
Crude Oil Rally Reignites Inflation Fears The primary catalyst was the energy market. Intensifying military confrontation in the Middle East propelled oil prices upward for the fourth consecutive trading day.
BREAKING: June PPI Inflation falls to 5.5%, below expectations of 6.2%.
Core PPI Inflation fell to 4.7%, below expectations of 5.2%.
Month-over-month PPI inflation fell -0.3%, the biggest decline since April 2025.
The odds of rate hikes are declining further.
— The Kobeissi Letter (@KobeissiLetter) July 15, 2026
The United States executed a fifth straight day of military strikes targeting Iranian infrastructure. President Donald Trump committed to sustaining offensive operations until Tehran ceases attacks on international commercial vessels and reopens passage through the Strait of Hormuz.
Both Brent and West Texas Intermediate crude benchmarks extended their rallies as market participants assessed potential supply chain disruptions through this critical maritime corridor.
Elevated oil prices increase the probability that inflation remains entrenched above the Federal Reserve’s 2% benchmark. This dynamic could compel the central bank to maintain restrictive interest rates for an extended period beyond market expectations.
ANZ strategists highlighted that the critical consideration is whether Federal Reserve policymakers interpret the crude oil surge as a transient disruption or an indication of broader inflationary momentum.
Central Bank Officials Maintain Restrictive Stance Fed Chair Kevin Warsh indicated this week that monetary policymakers continue prioritizing the restoration of inflation to the 2% target. He emphasized the Fed’s willingness to recalibrate interest rates should price pressures demonstrate greater persistence.
Warsh additionally dismissed suggestions that substantial investment in artificial intelligence technologies would independently generate higher inflation.
Fed Governor Lisa Cook stated her readiness to endorse additional restrictive measures should inflation remain stubbornly elevated. New York Fed President John Williams characterized current interest rate levels as “well positioned” to guide inflation back toward the target range.
MUFG analysts suggested that gold’s immediate trajectory will hinge on whether ascending oil prices translate into sustained U.S. inflation or remain a temporary geopolitical disruption.
Traders are now anticipating forthcoming Federal Reserve official speeches to gain clearer insight into the probable direction of monetary policy.
Rising Treasury yields and dollar strength, both plausible scenarios if the Fed maintains its restrictive stance, typically pressure gold by increasing costs for international purchasers and diminishing its attractiveness as a non-interest-bearing store of value.
Gold has maintained support above the psychologically significant $4,000 threshold thus far, but persistent headwinds from energy markets and Federal Reserve hawkishness could challenge this technical level in upcoming trading sessions.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
With almost 50,000 tokens created in a single day across its launchpads, Robinhood Chain's memecoin industry has set yet another activity record. Pons-generated assets recorded more than $82 million in daily trading volume, and Pons Family and Flap led the expansion, each reportedly processing more than 10,000 deployments.
22,000 launches in a single dayThe scale is important. By enabling about 22,000 launches on July 14, Flap had already broken NOXA's previous record of about 18,000 launches. Soon after its launch, Robinhood Chain attracted hundreds of thousands of addresses and recorded millions of daily transactions, making it one of the busiest new networks. Token creation, however, does not prove a wider memecoin season.
CASHCAT/USDT Chart by TradingViewLaunchpads enable nearly free and automated issuance, allowing a single developer, bot operator, or coordinated team to create thousands of assets without corresponding increases in real demand. The expansion of market capitalization, trading volume, and liquidity across several independent tokens is a stronger indicator. There are currently 19 memecoins on the Robinhood Chain worth more than $1 million.
HOT Stories
Not everything brings profitsEleven came from NOXA, five from Virtuals, and one each from Bullmarkets, Pons Family, and Bowfun. This distribution demonstrates that despite the abrupt rise in competitors, successful outcomes are still dominated by established launchpads. It also highlights a serious conversion issue: only a small number of million-dollar assets have been created out of nearly 50,000 daily launches. As a result, the majority of tokens remain transient experiments with little liquidity.
You Might Also Like
Similar findings have been reported in research on automated memecoin issuance, including high churn, inadequate project infrastructure, and a significant decline in token activity soon after launch. However, it is more difficult to ignore Pons Family's $82 million volume. Even though NOXA's main website has been down for several days, Pons Family has come close to the volume of tokens produced by NOXA.
This implies that rather than completely abandoning Robinhood Chain, traders are switching between launchpads. The network's total memecoin capitalization was recently close to $207 million, and the tokenized stock and real-world asset activity that Robinhood Chain was intended to facilitate has been eclipsed by speculative assets. It is clear that Robinhood Chain is going through a memecoin boom of its own.
Declaring the season to be complete for the entire market is still premature. Sustained liquidity, more tokens with significant valuations, and demand expanding beyond a small number of launchpad winners are all necessary for that.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Key Highlights ONDO’s value increased approximately 5% following the announcement of Ondo Finance’s involvement in DTCC’s historic tokenization project The platform introduced the first tokenized equity representations supported by DTC tokenized entitlements Major collaborators include BlackRock, J.P. Morgan, Goldman Sachs, Nasdaq, and the New York Stock Exchange Trading volume surged 51.7% in a single day coinciding with the price appreciation Critical resistance levels are positioned around $0.336, with higher targets at $0.70 and $1.12 Ondо Finance revealed its launch of the inaugural tokenized equity representations utilizing DTC tokenized entitlements. This development propelled the ONDO token upward by approximately 5% within a 24-hour period while simultaneously boosting daily trading activity by 51.7%.
Ondo Price This project forms a critical component of the DTCC Tokenization Service. The Depository Trust & Clearing Corporation handled approximately $4.7 quadrillion worth of U.S. securities transactions throughout 2025, establishing its role as the fundamental infrastructure for U.S. post-trade operations.
We’re excited to announce that Ondo has launched the first tokenized stock representations based on DTC tokenized entitlements to DTC-held securities generated through the DTCC Tokenization Service.
The Depository Trust & Clearing Corporation (DTCC) is the premier post-trade… pic.twitter.com/r7KcGmDqa9
— Ondo Finance (@OndoFinance) July 15, 2026
Ondо Finance now stands among distinguished partners including BlackRock, J.P. Morgan, Goldman Sachs, Nasdaq, and the New York Stock Exchange. According to the firm, this represents DTCC’s most expansive tokenization undertaking to date.
Ian De Bode, the company’s CEO, stated: “Ondo is the only company simultaneously building all pathways for US securities tokenization. Today’s initiative with DTCC demonstrates that Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it.”
Through Ondo’s infrastructure, tokenized entitlements connected to securities like CRCL and SPY function as digital equivalents supporting CRCLon and SPYon. These digital assets enable seamless transitions between conventional and tokenized structures.
This framework enhances versatility and unlocks fresh liquidity channels throughout exchanges, digital wallets, and decentralized finance ecosystems.
Technical Analysis Insights ONDO rebounded from a significant upward trendline and recovered toward its 50-day exponential moving average. A decisive breakthrough above this threshold might pave the way toward $0.70, with potential extension to $1.12 if momentum continues.
Conversely, inability to overcome the EMA could retest the ascending trendline support. Breaking below that support zone would leave the token vulnerable to additional downward pressure.
A descending triangle formation has emerged on the daily timeframe. While the $0.31 area has provided support since June, bulls have encountered difficulty surpassing the $0.336 local resistance barrier.
Both the Chaikin Money Flow and On-Balance Volume metrics have failed to validate sustained accumulation. This creates a somewhat uncertain technical outlook despite the favorable fundamental developments.
Expert Commentary Cryptocurrency analyst Michaël van de Poppe, recognized on X as @CryptoMichNL, mentioned he had been monitoring ONDO for multiple weeks. He acknowledged the DTCC collaboration news and observed that ONDO had gained 18% during the day when he posted. Van de Poppe expressed confidence that the rally would continue and anticipated additional upward movement.
Currently, the $0.343 price point, which corresponds to the 50% retracement level, represents the crucial threshold separating premium and discount territories for swing trading strategies.
Ondo Finance has launched the first tokenized equity representations utilizing DTC tokenized entitlements, driving ONDO’s price up approximately 5% within a single day and sparking a surge in trading volume by 51.7%.
Ondo participates in DTCC’s landmark tokenizationThe rollout marks Ondo Finance’s role in the Depository Trust & Clearing Corporation’s (DTCC) Tokenization Service, which is considered a cornerstone for post-trade processing in U.S. financial markets. DTCC processed around $4.7 quadrillion in U.S. securities transactions during 2025, reinforcing its position as the essential clearing institution for Wall Street.
With this development, Ondo Finance is now collaborating alongside leading financial players, including BlackRock, J.P. Morgan, Goldman Sachs, Nasdaq, and the New York Stock Exchange. This initiative is recognized as DTCC’s most expansive tokenization effort to date.
Through Ondo’s infrastructure, tokenized entitlements connected to assets such as CRCL and SPY serve as digital equivalents, supporting instruments known as CRCLon and SPYon. Investors can use these to move assets between traditional holdings and blockchain-based representations securely and efficiently.
Mini dictionary: DTCC (Depository Trust & Clearing Corporation) is a US-based financial services company that provides post-trade clearing and settlement for the US securities industry, ensuring that transactions between buyers and sellers are completed smoothly and efficiently.
Ian De Bode, CEO of Ondo Finance, stated that Ondo is uniquely constructing all pathways for US securities tokenization, emphasizing that the new initiative with DTCC demonstrates its infrastructure is designed for interoperability with institutional market frameworks.
The introduction of tokenized equities and entitlements is expected to boost flexibility across exchanges and digital wallets, as well as open new liquidity channels for decentralized finance participants.
ProjectMain RoleKey PartnersOndo FinanceTokenized equity platformBlackRock, J.P. Morgan, Goldman Sachs, Nasdaq, NYSEDTCCUS post-trade clearing and settlementAll major Wall Street firmsPrice action and technical outlookFollowing the announcement, ONDO rebounded from an uptrend line to approach its 50-day exponential moving average (EMA). Market analysts suggest that a sustained move above this level could pave the way toward targets of $0.70 and possibly $1.12. However, resistance remains at $0.336, with the $0.31 support level signaling the lower boundary of a descending triangle chart pattern.
Michaël van de Poppe, a market analyst recognized on X as @CryptoMichNL, noted the surge in ONDO’s value after the DTCC partnership was made public. He highlighted that ONDO had climbed 18% on the day and said he expected further gains ahead.
Despite bullish fundamental drivers, technical indicators such as Chaikin Money Flow and On-Balance Volume have not shown clear signs of sustained accumulation, adding a layer of uncertainty to the short-term outlook.
Currently, the $0.343 price level—which represents the 50% Fibonacci retracement—acts as the dividing line between premium and discount areas for short-term strategies.
Outlook for tokenization and ONDOOndo Finance, a platform focused on bridging traditional assets and blockchain-based solutions, is positioning itself at the forefront of the tokenization trend in U.S. securities. With support from major Wall Street institutions and the rollout of live products, industry observers are watching closely to see how price momentum and adoption unfold in the months ahead.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ondo (ONDO) climbed to a one-month high after a sharp rally driven by the debut of the first tokenized stocks backed by DTC Tokenized Entitlements.
The altcoin surged as much as 17% over the past 24 hours to an intraday high of $0.37. This marked its strongest level since June 18.
The rally also propelled ONDO to the top of CoinGecko’s list of the day’s biggest cryptocurrency gainers. The surge stood out against a flat market, with Bitcoin (BTC) little changed over the same period.
Ondo (ONDO) Price Performance. Source: BeInCrypto MarketsFollow us on X to get the latest news as it happens
Ondo Debuts First DTC-Backed Tokenized StocksOndo’s tokenized stocks are backed by DTC Tokenized Entitlements to securities held at The Depository Trust Company (DTC). The design ties on-chain tokens directly to shares inside Wall Street’s core custody system.
The company called it a first for tokenized equities. The tokens represent Circle (CRCL) stock and the SPDR S&P 500 ETF (SPY) on-chain. Ondo issues them as CRCLon and SPYon, each fully backed by the underlying security.
“Under this model, DTC tokenized entitlements to DTC-held securities are generated through the DTCC Tokenization Service, and the DTC Tokenized Entitlements associated with CRCL and SPY serve as digital twins of the securities underlying existing CRCLon and SPYon tokens (Ondo’s tokenized versions of the stocks),” the team explained.
Ondo is connected to the DTC participant network through Alpaca Markets. The underlying shares stay within DTC custody throughout the process, according to the firm.
“Ondo joins more than a dozen leading TradFi and DeFi firms — including BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and NYSE — participating in DTCC’s largest tokenization initiative to date, representing an important step toward the broader adoption of tokenized securities,” the blog read.
How Ondo’s Tokenized Stocks Work. Source: OndoDTCC’s Tokenization Push Gains TractionThe launch comes as the Depository Trust & Clearing Corporation (DTCC) completed the tokenization of assets held at The Depository Trust Company. More than 30 firms participated in the initiative.
The transactions covered collateral pledges, securities lending, and equity settlements. DTCC ran them across its private HyperLedger Besu network and the public Canton network.
The platform plans to launch its full tokenization service in October 2026. That milestone arrived seven months after the SEC granted DTC a No-Action Letter to tokenize custodied assets.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
@OndoFinance's native token $ONDO has surged nearly 20% in the past 24 hours, driven by a landmark development in the tokenization of real-world assets. The protocol has become the first to launch tokenized stock representations backed by the Depository Trust and Clearing Corporation's (@The_DTCC) DTC Tokenized Entitlements, placing Ondo at the center of what may be Wall Street's most significant blockchain experiment to date.
What Ondo and the DTCC Actually Did On July 15, 2026, Ondo Finance launched the first tokenized stock representations based on DTC Tokenized Entitlements to securities held at the Depository Trust Company. The underlying assets were Circle's publicly listed stock ($CRCL) and the SPDR S&P 500 ETF Trust (SPY), represented on-chain as CRCLon and SPYon — Ondo Stocks tokens fully backed by each security.
The DTCC Tokenization Service uses the same DTC infrastructure that clears and settles the vast majority of US securities transactions, enabling what are effectively digital twins of DTC-held assets. These tokenized entitlements carry the same CUSIP and symbol as their underlying securities, and can be converted between traditional and tokenized forms, opening up new liquidity pools and DeFi use cases.
Ondo joins more than a dozen leading TradFi and DeFi firms, including BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and NYSE, in what the DTCC has described as its largest tokenization initiative to date. A full commercial service launch is scheduled for October 2026.
Ondo's Growing Role in the RWA Sector The milestone adds institutional weight to a project that has been scaling rapidly. According to data from DefiLlama cited by The Defiant, Ondo's TVL stands at $3.68 billion, making it the largest tokenized RWA platform by that measure. The protocol's tokenized stocks and ETFs platform, Ondo Global Markets, launched on Ethereum in September 2025 and has since expanded to BNB Chain, Solana, and Hyperliquid.
Ian De Bode, CEO of Ondo Finance, framed the DTCC collaboration as complementary to, rather than competitive with, traditional market infrastructure: "Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it."
The broader DTCC pilot, which processed its first live production trades on July 15, 2026, covered tokenized stocks, ETFs, and US Treasuries across more than 40 participating firms. DTCC described it as its largest tokenization production event by breadth of assets, use cases, and participants. A full-service launch remains on track for October 2026, which would open the platform to broader volumes and participation.
For $ONDO, the price move reflects a market that is beginning to price in Ondo's position inside core US capital markets infrastructure, not just alongside it.
Sources:
Ondo Finance: Ondo Debuts First-Ever Tokenized Stocks Based on DTC Tokenized Entitlements
Genfinity: DTCC Processes First Live Tokenized Stock, ETF, and Treasury Trades
The Defiant: ONDO Surges amid US Tokenization Push
Ondo Finance, the largest tokenizer of stocks globally, and SBI Group, one of Japan's largest financial conglomerates, today announced a strategic partnership. Under the partnership, the companies will bring Japanese equities onchain, distribute Ondo tokenized products across the SBI Group ecosystem, and adopt SBI's JPYSC stablecoin for onchain settlement and collateral.
The partnership connects one of the world's most sophisticated capital markets with the global tokenized economy, expanding access to Japanese assets and bringing Ondo tokenized products to millions of investors across Japan.
Under the strategic partnership, the two companies will work towards:
Tokenization and distribution of Japanese assets onchain, with tokenized instruments to be issued by Ondo Global Markets (BVI) Limited Use of SBI’s JPYSC stablecoin for settlement and collateral on Ondo tokenized assets Distribution of Ondo tokenized assets through the SBI Group ecosystem Cross-promotion of each party's products and services through their respective customers, channels, and strategic partners “Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy,” said Ian De Bode, CEO, Ondo Finance.
“Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets, and we look forward to rapidly advancing a wide range of initiatives together,” said Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI Holdings
Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group expands its global digital asset ecosystem, and we look forward to rapidly advancing a wide range of initiatives together.
Together, SBI and Ondo aim to build a bridge between Japan's capital markets and the global tokenized economy, expanding access to Japanese assets for investors worldwide and laying the groundwork for yen-denominated settlement onchain.
Japan’s SBI Group and Ondo Finance have struck a partnership to tokenize Japanese equities and settle transactions using SBI’s newly minted yen stablecoin, JPYSC. The deal, announced on July 16, represents one of the most significant bridges yet between traditional Asian capital markets and onchain finance infrastructure.
What the partnership actually looks like Under the agreement, Ondo Global Markets (BVI) Limited will handle the issuance of tokenized Japanese assets. SBI’s sprawling ecosystem of financial services will then distribute those tokens, giving investors access to Japanese stocks through onchain rails rather than traditional brokerage accounts.
The settlement layer is equally notable. SBI launched JPYSC on June 24, making it Japan’s first trust bank-backed yen stablecoin. Issued by SBI Shinsei Trust Bank with an initial capital of ¥10 billion, the stablecoin operates primarily on Ethereum and is designed to serve as both a payment mechanism and collateral instrument for tokenized asset transactions.
Ondo CEO Ian De Bode framed SBI’s involvement as a validation of the entire tokenization thesis.
Advertisement
“SBI’s role in one of the world’s most advanced markets” makes this collaboration particularly significant, De Bode noted.
SBI Chairman Yoshitaka Kitao called the partnership “a vital step towards creating a global corridor for digital assets.”
Why SBI and why now SBI Group isn’t new to the tokenization conversation. The conglomerate struck a partnership with Chainlink in 2025 focused on bringing traditional assets onchain, and has made strategic investments through Startale in blockchain infrastructure. JPYSC was the logical next step, giving SBI its own stablecoin to serve as the monetary plumbing for everything it’s trying to build.
Ondo Finance has already built a track record tokenizing US Treasuries, and the firm has been expanding into tokenized equities. Pairing that experience with SBI’s regulatory credibility and distribution muscle in Japan creates something neither party could easily replicate alone.
A fireside chat featuring Ondo’s Ian De Bode and SBI Onchain’s Kefei Lin is scheduled at WebX 2026 in Tokyo to lay out more details on the onchain financial rails the two companies plan to build together.
Japan’s regulatory environment has been quietly supportive of digital asset innovation. The Japanese Financial Services Agency has maintained a licensing framework that gives institutional players a relatively clear path to launching products like trust bank-backed stablecoins. SBI’s ability to launch JPYSC through a regulated trust bank, rather than an offshore entity, speaks directly to that advantage.
What this means for investors SBI brings regulatory legitimacy and an existing customer base that numbers in the millions across its banking, securities, and insurance businesses. Ondo brings battle-tested tokenization infrastructure. JPYSC brings yen-denominated settlement, which eliminates a major friction point for domestic investors who have historically been reluctant to interact with dollar-denominated stablecoins like USDT or USDC.
For international investors, accessing Japanese equities currently requires navigating foreign brokerage accounts, currency conversion, and settlement timelines that can stretch to T+2 or longer. Tokenized versions of those same stocks, tradeable against a yen stablecoin on Ethereum, could compress that entire process dramatically.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
@OndoFinance and SBI Group have entered a strategic partnership to bring Japanese real-world assets onchain, in one of the most significant moves yet to connect Japan's domestic capital markets with the global tokenized economy.
What the Partnership Covers Under the agreement, the two firms will work toward the tokenization and distribution of Japanese assets onchain, with tokenized instruments to be issued by Ondo Global Markets (BVI) Limited. The partnership also designates SBI's $JPYSC stablecoin as the primary settlement and collateral layer for Ondo tokenized assets, with distribution to run across the wider SBI Group ecosystem.
The goal, as both parties have framed it, is to build a bridge between Japan's capital markets and the global tokenized economy, expanding access to Japanese assets for investors worldwide and laying the groundwork for yen-denominated settlement onchain.
$JPYSC itself is a relatively new instrument. SBI launched it on June 24, 2026 as Japan's first trust bank-backed yen stablecoin, issued by SBI Shinsei Trust Bank and distributed through SBI VC Trade. Crucially, unlike earlier Japanese stablecoins that were subject to a 1 million yen transaction cap, JPYSC carries no such ceiling, making it suited for institutional-scale settlement and tokenized asset transactions.
Why It Matters The Ondo-SBI tie-up is part of a broader and accelerating push by SBI to build a full-stack onchain financial ecosystem in Japan. In recent months, the group has partnered with the Solana Foundation to develop onchain infrastructure, participated in a $175 million funding round for DeFi lending protocol Morpho, and invested $125 million in DeFi risk platform Gauntlet. SBI has also separately completed a proof-of-concept with DigiFT and Startale Group demonstrating JPYSC-powered settlement and automated onchain dividend distribution for tokenized securities.
For Ondo, the partnership offers direct access to one of Asia's largest and most established financial distribution networks. For Japan, it signals a further step toward the country's stated ambition of positioning itself as a leading hub for onchain finance in Asia, backed by a regulatory framework that has moved ahead of many Western peers.
The integration of Ondo's institutional-grade tokenization engine into Japan's financial infrastructure, settled in a regulated yen-denominated stablecoin, represents a concrete attempt to move Japanese equities and debt instruments onchain at scale for the first time.
Sources:
FX News Group: Ondo and SBI Group collaborate to bring Japanese equities onchain
Chainwire: SBI Group, DigiFT and Startale Group advance tokenized capital markets with JPYSC
CryptoNews: SBI Group launches JPYSC, Japan's first trust bank-backed yen stablecoin
Ondo Finance, a firm focused on tokenizing RWAs, has formed a partnership with SBI Group to tokenize assets in Japan. SBI Group is one of Japan’s largest financial services conglomerates, operating in banking, investing, asset management, and, more recently, digital assets.
In a post on X, Ondo Finance CEO Ian De Bode said, “Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain.”
Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI, described Ondo as a global leader in tokenization as they form a global corridor for digital assets.
Ondo Finance announced yesterday that it had launched its first tokenized equities using the new DTCC tokenization service, which carry the same CUSIP and symbol as the underlying securities.
De Bode explained they are the only company building all pathways for US securities tokenization.
“…DTCC demonstrates that Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it. As tokenized securities markets continue to evolve, Ondo expects to play a leading role in bringing these assets onchain for investors.”
Ondo holds a mission of supporting institutional-grade financial products. It operates an asset management entity for tokenized products as well as a tech segment to develop decentralized protocols.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Ondo price has surged nearly 20% over the past 24 hours after the protocol unveiled tokenized U.S. equities backed by DTC tokenized entitlements, lifting ONDO well ahead of a largely range-bound crypto market.
Summary
ONDO jumped 20% after launching tokenized U.S. equities through the DTCC Tokenization Service pilot. A breakout above a multi-month falling wedge has shifted focus toward the $0.47 resistance level. Short liquidation clusters near $0.38-$0.39 could fuel additional upside if bullish momentum continues. The rally gathered pace after Ondo announced its integration with the Depository Trust Company and participation in the DTCC Tokenization Service pilot, allowing on-chain exposure to assets such as the SPDR S&P 500 ETF (SPYon) and Circle stock (CRCLon).
We’re excited to announce that Ondo has launched the first tokenized stock representations based on DTC tokenized entitlements to DTC-held securities generated through the DTCC Tokenization Service.
The Depository Trust & Clearing Corporation (DTCC) is the premier post-trade… pic.twitter.com/r7KcGmDqa9
— Ondo Finance (@OndoFinance) July 15, 2026 The launch strengthened Ondo’s position in the rapidly expanding real-world asset sector and pushed daily trading activity sharply higher as buyers piled into the token.
Commenting on the move, crypto analyst Michaël van de Poppe argued that the catalyst could have lasting effects rather than a one-day spike. “I don’t think the run will stall, there’s more in the tank to come on this one,” he wrote on X after highlighting Ondo’s DTCC partnership announcement.
Technical breakout has opened the path toward higher resistance The daily chart shows Ondo (ONDO) breaking decisively above the upper trendline of a descending wedge that had contained price action since May. The breakout also invalidated a series of lower highs and pushed the token back above the short-term resistance area near $0.34. At the time of writing, ONDO is trading around $0.37, with the next major resistance sitting near $0.47, the level where the token previously reversed in May.
Ondo price has formed a descending wedge pattern on the daily chart — July 16 | Source: crypto.news Momentum indicators have also turned constructive. The MACD has completed a bullish crossover with expanding positive histogram bars, while the Chaikin Money Flow has climbed to around 0.13, suggesting fresh capital has entered the market alongside the breakout.
Maintaining support above the former wedge resistance around $0.34–$0.35 would keep the bullish structure intact, whereas a loss of that zone could expose the token to a retest of the $0.32 area.
Derivatives positioning also favors elevated volatility. CoinGlass’ three-day liquidation heatmap shows dense short liquidation clusters between $0.38 and $0.39, just above the current market price.
Ondo liquidation heatmap | Source: CoinGlass A sustained push into that range could trigger another wave of forced short covering. Below the market, sizeable liquidity remains concentrated around $0.35 and $0.34, making those levels the first areas traders are likely to watch if momentum weakens.
Institutional adoption continues to strengthen Ondo’s investment case The latest product launch adds to Ondo’s institutional strategy, which centers on bringing regulated financial assets onto public blockchains instead of replacing traditional markets. Participation alongside firms involved in the DTCC ecosystem, including major Wall Street institutions, has strengthened investor confidence in Ondo’s long-term role within tokenized securities infrastructure.
The product rollout also expands utility across the network. Ondo Perps now allows eligible users outside the United States to trade perpetual futures linked to tokenized equities with leverage while using tokenized stocks as collateral.
At the same time, marketing campaigns with partners such as Trust Wallet have widened retail access to assets including NVDAon, GOOGLon, and TSLAon through zero-fee promotions, adding another demand driver beyond speculative trading.
Although macro uncertainty surrounding interest rates continues to limit risk appetite across digital assets, ONDO has attracted capital through a project-specific catalyst rather than a marketwide rally.
As long as buyers defend the breakout zone and institutional adoption continues to expand, traders will likely focus on whether the token can challenge the $0.47 resistance over the coming sessions.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
SBI Group, one of Japan’s largest financial companies with more than $250 billion in assets, has partnered with Ondo Finance, the world’s leading tokenized equity platform, to bring Japanese real-world assets (RWAs) onchain.
The partnership will allow Japanese equities to be tokenized, distribute Ondo’s products through SBI’s financial ecosystem, and use SBI’s JPYSC stablecoin for onchain settlements and collateral.
Together, both companies aim to connect Japan’s traditional capital markets with the global blockchain economy, giving millions of Japanese investors access to tokenized financial products.
What Will the Partnership Bring?Under the agreement, both companies will work on:
Tokenizing Japanese equities through Ondo Global Markets (BVI) Limited.Using JPYSC, SBI’s yen-backed stablecoin, for onchain settlement and collateral.Distributing Ondo’s tokenized products across the SBI Group ecosystem.Promoting each other’s products through their customer networks and strategic partners.This partnership also opens the door for Japanese assets to reach global blockchain investors while expanding tokenized finance inside Japan.
Executives See a Bigger OpportunityOndo Finance CEO Ian De Bode called Japan one of the world’s strongest financial markets.
“Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy.”
SBI Holdings Chairman and CEO Yoshitaka Kitao said Ondo has become a global leader in tokenizing real-world assets.
“Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets.”
Why This Partnership MattersJapan is already one of the world’s largest financial markets, while Ondo Finance has become one of the biggest players in tokenizing real-world assets.
According to industry data, Ondo controls nearly 60% of the global tokenized equity market, making it one of the leading companies in this fast-growing sector.
By combining SBI’ financial infrastructure with Ondo’s blockchain technology, the partnership could make it easier for both local and international investors to access Japanese assets through blockchain.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
SBI Group, a long time Ripple partner, has joined Ondo Finance in a strategic partnership to drive the growth of tokenized finance in Japan. The partnership will concentrate on bringing Japanese stocks onto the blockchain and expand the usage of its JPYSC stablecoin.
Ripple-Backed SBI Group Partners Ondo Finance SBI Group will also launch Ondo financial products on the tokenized platform in SBI’s financial ecosystem. The other important feature is supporting SBI’s JPYSC stablecoin as settlement and collateral.
The deal is aimed at one of the biggest capital markets in the world. Further, be yto tie Japanese financial assets to the expanding international market for tokenized securities. The companies will also work to make these products more accessible to millions of investors via SBI’s wide network of customers.
Through this effort, Ondo Global Markets (BVI) Limited will be issuing tokenized financial products from Japan. Such digital assets will be offered via Ripple affiliate SBI Group. The partners will also collaborate in marketing activities and share their products among existing customers and via strategic partnerships.
What Do Executives Have To Say? Ian De Bode, CEO of Ondo Finance, spotlighted Japan’s importance to the digital asset industry. He remarked, “Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy.”
Further, SBI Chairman, President and CEO Yoshitaka Kitao also shared insights Ondo’s role in the industry. He added, “Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets, and we look forward to rapidly advancing a wide range of initiatives together.”
The collaboration also sees SBI’s JPYSC stablecoin getting a new lease on life. The yen-backed digital currency is anticipated to be used for settlements and collateralization of Ondo’s tokenized assets. The transfer signaling that SBI is stepping up its digital asset initiative and furthering its goal of making Japanese assets more accessible to global investors through tokenization.
SBI Group has partnered with Ondo Finance to tokenize Japanese stocks and use its yen-backed JPYSC stablecoin for settlement and collateral.
Summary
SBI has partnered with Ondo to bring tokenized Japanese stocks into its financial ecosystem. JPYSC will support settlement and collateral for Ondo’s tokenized financial products. The deal follows SBI’s launch of a tokenized Japanese equity fund on Solana. According to the companies, the agreement will bring Ondo’s tokenized financial products into SBI’s financial ecosystem while connecting Japanese assets with international markets for tokenized securities. The partnership will also use SBI’s customer network to offer the products to millions of investors.
We're excited to announce a partnership with SBI Group, one of Japan's leading financial institutions.
The collaboration covers tokenizing Japanese assets with distribution across the SBI ecosystem, and settlement using the JPYSC stablecoin.
Ondo CEO Ian De Bode on the… pic.twitter.com/Kp4twvDeZo
— Ondo Finance (@OndoFinance) July 16, 2026 Under the agreement, Ondo Global Markets (BVI) Limited will issue tokenized financial products linked to Japan. SBI, a long-time Ripple partner, will distribute the products through its financial platforms and introduce them to existing customers.
Both companies will also conduct joint marketing and explore distribution through strategic partners. SBI and Ondo did not disclose a launch date, the first assets planned for tokenization, or the regulatory structure that will govern investor access.
JPYSC will support settlement and collateral As part of the partnership, SBI plans to integrate JPYSC as a settlement and collateral asset for Ondo’s tokenized products. The stablecoin is backed by the Japanese yen and is designed to support transactions within SBI’s digital asset services.
Using JPYSC could allow investors to settle purchases of tokenized Japanese assets with a yen-denominated digital currency. The companies also plan to explore its use as collateral, although they have not provided details about eligible products or collateral requirements.
For Ondo, the agreement provides access to SBI’s position in Japan’s banking, brokerage, asset management, and digital asset sectors. SBI, in turn, gains another route for offering blockchain-based securities through an issuer focused on tokenized real-world assets.
Commenting on the partnership, Ondo Finance CEO Ian De Bode described Japan as an important market for the sector.
“Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy.”
SBI Chairman, President and CEO Yoshitaka Kitao described Ondo as a potential long-term partner as the Japanese financial group develops links between domestic and overseas digital asset markets.
“We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets, and we look forward to rapidly advancing a wide range of initiatives together.”
SBI is building an onchain equities pipeline The Ondo partnership follows SBI Global Asset Management’s launch of a tokenized Japanese equity fund on Solana with DigiFT, a regulated real-world asset exchange.
As reported by crypto.news, SBI Global Asset Management launched the SBI Japan High Dividend Equity Strategy Token, known as the JX token, on July 15. The token gives accredited and institutional investors blockchain-based access to a high-dividend Japanese equity strategy managed by SBI Asset Management Co.
For DigiFT, the JX token is its first onchain tokenization of a Japanese equity fund. SBI described the product as the world’s first tokenized Japanese equity fund, adding another channel for professional investors to access the country’s stock market through blockchain infrastructure.
While the JX token focuses on a managed equity strategy for qualified investors, the Ondo agreement covers tokenized financial products, distribution through SBI’s ecosystem, and JPYSC integration. Together, the two initiatives show SBI is testing separate routes for bringing Japanese securities and yen-based settlement onto public blockchain networks.
The deal routes distribution through SBI's ecosystem and settles in the group's JPYSC yen stablecoin, connecting Japan's capital markets to onchain finance.
Ondo Finance, a tokenization platform for real-world assets, said Thursday it has partnered with SBI Group to tokenize Japanese assets, with distribution across SBI's ecosystem and settlement using the group's JPYSC yen stablecoin.
"The collaboration covers tokenizing Japanese assets with distribution across the SBI ecosystem, and settlement using the JPYSC stablecoin," Ondo said in a post on its official X account. The announcement describes a partnership and a path to market rather than a launched product.
SBI Group is one of Japan's largest financial-services companies. Its JPYSC stablecoin is a yen-denominated token the group has moved to issue under Japan's stablecoin framework.
Ondo CEO Ian De Bode tied the deal to Japan's markets. "Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain," he said in the announcement.
Yoshitaka Kitao, SBI Holdings' representative director, chairman, president and CEO, said in the same post that "Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets."
ONDO traded at about $0.39, up roughly 17% over 24 hours and 23% over the prior seven days, with a circulating market cap near $1.89 billion, according to CoinGecko data retained at 14:31 UTC. Bitcoin was not moving comparably over the same window, indicating the gain was asset-specific.
The partnership extends earlier moves by both parties. Ondo has expanded its catalog of tokenized stocks and ETFs, and SBI has advanced plans to issue the JPYSC yen stablecoin.
SBI Group, the Japanese financial conglomerate sitting on more than $238 billion in total assets, is teaming up with Ondo Finance to bring tokenized Japanese equities onchain. The partnership will use SBI’s JPYSC yen stablecoin for settlement and collateral, essentially building the plumbing for a tokenized stock market denominated in digital yen.
How the partnership works The tokenized Japanese assets will be issued through Ondo Global Markets (BVI) Limited and distributed across SBI’s sprawling ecosystem. SBI isn’t some crypto-native startup experimenting with tokenization on the side. It’s a financial services empire spanning securities, asset management, banking, and insurance.
JPYSC, the settlement layer for this whole operation, is the first trust bank-backed yen stablecoin. SBI launched it on June 24, 2026, barely three weeks before this partnership was announced. The timing suggests that JPYSC was always designed with institutional use cases like this in mind.
Advertisement
For Ondo Finance, which claims to be the largest global tokenizer of stocks, the deal represents a major distribution unlock. Ondo’s governance token has a market cap hovering around $1.8 to $1.9 billion and a circulating supply of approximately 4.87 billion tokens.
Ian De Bode, Ondo’s CEO, framed the collaboration as a way to integrate Japanese markets into the broader tokenized economy. Meanwhile, SBI’s Chairman and CEO Yoshitaka Kitao called Ondo “a key strategic partner” for SBI’s digital asset corridor ambitions.
Why Japan, why now SBI is uniquely positioned to make this happen. The company already operates SBI Securities, one of Japan’s largest online brokerages, giving it direct access to millions of retail investors.
The use of JPYSC as the settlement layer is particularly notable. Most tokenized asset experiments globally have relied on US dollar stablecoins like USDC or USDT. Building this infrastructure on a yen-denominated stablecoin backed by a trust bank removes the FX friction for Japanese investors.
What this means for investors The specific timeline for when tokenized Japanese stocks will actually be available to investors hasn’t been disclosed. Announcements of intent are common in crypto-TradFi partnerships, and the gap between announcement and launch can stretch for months or even years.
One risk worth watching: regulatory execution. Japan’s FSA has been accommodating toward digital assets, but tokenized securities that represent actual equity ownership could trigger additional compliance requirements that don’t apply to simpler token structures.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Nasdaq-listed Hyperion DeFi said it entered an agreement with Skew Technologies to deploy 500,000 Hyperliquid (HYPE) tokens to support institutional perpetual futures markets on Hyperliquid’s HIP-3 permissionless listings.
Under the agreement, Hyperion will receive an equity stake in Skew and a share of listing-service revenue generated from the platform, according to a Wednesday press release.
The companies said the service is designed to help institutional clients launch custom perpetual futures markets on Hyperliquid.
“As we assessed opportunities in HIP-3, we continued to receive demand from various teams globally seeking to launch and distribute new markets using Hyperliquid’s infrastructure,” said Hyunsu Jung, chief executive officer of Hyperion DeFi.
Hyperliquid is a layer-1 blockchain focused on perpetual futures trading. Its HIP-3 framework lets developers launch custom perpetual markets by posting HYPE as bonded capital, creating new utility for the token beyond staking.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Nasdaq-listed Hyperion DeFi said it entered an agreement with Skew Technologies to deploy 500,000 Hyperliquid (HYPE) tokens to support institutional perpetual futures markets on Hyperliquid’s HIP-3 permissionless listings.
Under the agreement, Hyperion will receive an equity stake in Skew and a share of listing-service revenue generated from the platform, according to a Wednesday press release.
The companies said the service is designed to help institutional clients launch custom perpetual futures markets on Hyperliquid.
“As we assessed opportunities in HIP-3, we continued to receive demand from various teams globally seeking to launch and distribute new markets using Hyperliquid’s infrastructure,” said Hyunsu Jung, chief executive officer of Hyperion DeFi.
Hyperliquid is a layer-1 blockchain focused on perpetual futures trading. Its HIP-3 framework lets developers launch custom perpetual markets by posting HYPE as bonded capital, creating new utility for the token beyond staking.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
X updates its creator revenue sharing program; inducement of interactive behaviors such as "replying to follow each other" may result in account suspension.
X Product Lead Nikita Bier announced that the platform has updated its creator revenue sharing program. Accounts that induce engagement three or more times via tactics such as "reply to follow back" will be removed from the program and referred to the policy team for evaluation on whether to suspend the account. Grok is now capable of identifying such behavior; nearly 4,000 accounts were removed from the program on the same day. The new model launched by X detects duplicate content three times more efficiently than its predecessor. Even if reposters add watermarks, intros, or other modifications, monetization exposure for such content will belong to the original uploader—a rule that also applies to copied popular text posts. Bier added that the platform detected 1.5 million stolen posts during this cycle. Accounts engaging in repeated infringement or intentionally evading detection will be removed from the creator revenue sharing program. These adjustments will result in over $1 million in revenue being redistributed to original content creators.
8 minutes ago
Bankless Co-founder: Bitcoin may have entered a sideways consolidation phase, with the bottom largely in place.
Bankless co-founder David Hoffman published an article stating that Bitcoin’s current trend faces two possible paths: sideways consolidation to bottom out, or one final round of panic selling. He opines that Bitcoin is more likely to enter a sideways grinding phase, with its bottom already largely formed.
8 minutes ago
SpaceX’s short interest ratio rose to 29% of its outstanding shares, with short positions totaling $25 billion.
As SpaceX’s share price has fallen back to near its IPO price, short sellers are rapidly increasing their bearish positions on the company. Data from S3 Partners shows that roughly 185 million SpaceX shares are currently sold short, accounting for about 29% of its publicly traded float, equivalent to around $25 billion in short positions. Three weeks ago, the estimated number of SpaceX shares sold short was just 40 million, making up 5% to 7% of its float. The stock has dropped roughly 20% cumulatively since July, and on Wednesday it briefly fell below its $135 IPO price for the first time. KeyBanc Capital Markets noted that when SpaceX went public, its publicly traded shares made up only 5% of its total share count of around 13 billion. The first batch of large-scale restricted shares is expected to unlock around the release of its second-quarter financial results, at which point roughly 11% of the total share base will become eligible for sale; multiple subsequent batches of restricted shares, each accounting for about 4% of total shares, will also be unlocked starting about 70 days after the IPO. Elon Musk’s roughly 42% stake in SpaceX remains locked until June 2027. The company’s 13th Starship test flight is scheduled for Thursday, which could impact market sentiment toward the stock.
8 minutes ago
Ansem: If PUMP delivers on its airdrop promises and improves community relations, the token could surge 10 to 15 times.
Renowned crypto KOL Ansem has published an article arguing that token buybacks alone do not effectively support valuation. Hyperliquid generates ~$800 million in annualized revenue, while Pump.fun brings in around $440 million annually. Both platforms regularly use a portion of profits to repurchase tokens, yet Hyperliquid’s fully diluted valuation (FDV) stands at roughly $65 billion, compared to Pump.fun’s mere $1.4 billion. He notes that the valuation gap between the two is not primarily driven by revenue, but by the "trust premium" shaped by team conduct and market decisions. Hyperliquid rarely overpromises, consistently rolls out products, and rewards core users per preset metrics, fostering strong trust between its team and community. By contrast, Pump.fun has generated $1 billion in cumulative revenue and raised $1 billion via ICO, but has yet to deliver on its previously promised user airdrop. Ansem believes that if Pump.fun fulfills the airdrop and addresses core users’ concerns, PUMP’s price could surge 10 to 15 times, while boosting the platform’s trading volume, visibility, and revenue growth. He also cited Bitcoin as an example: the cryptocurrency has no revenue, yet boasts a $1.3 trillion market cap, with its value rooted in its fixed 21 million coin supply and the trust built from the network’s ongoing operation. Beyond tangible metrics like revenue, trust, meme effects, and attention are also key factors influencing asset valuation.
8 minutes ago
Keyrock acquires BlockFills' institutional trading and brokerage business for $3.25 million
Keyrock has completed the acquisition of BlockFills' institutional trading and brokerage business, with the deal covering its trading technology, institutional client relationships, and derivatives trading team. The acquisition will also expand Keyrock's regulatory scope, including an entity registered with the Cayman Islands Monetary Authority and another UK entity seeking authorization from the Financial Conduct Authority (FCA). Keyrock did not disclose the transaction price in its announcement. Per prior court documents and disclosures from company representatives, the total acquisition value is $3.25 million, payable in two installments, with certain arrangements subject to regulatory approval. BlockFills suffered major losses during the February 2026 crypto market crash, after which it filed for Chapter 11 bankruptcy protection in the U.S. Keyrock was ultimately selected as the buyer in the firm's bankruptcy proceedings.
8 minutes ago
Serenity: Declines in storage and AI-related crypto assets likely stem from deleveraging and cascading margin liquidations.
Serenity noted that Micron Technology announced today it has signed a long-term memory agreement with Qualcomm, but Micron’s stock price still fell by 5.37% following the announcement. He believes that, with multiple structural agreements continuing to take effect, the current decline does not appear to stem from issues with storage or AI stocks themselves. The related drop is more likely due to the winding down of deleveraging and margin call liquidation chains.
