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Blockchain News
Blockchain News
Browse all Blockchain related articles and news. The latest news, analysis, and insights on Blockchain.
MoneyGram Launches Its Own Stablecoin on the Stellar Network
Global money transfer company MoneyGram has launched MGUSD, a stablecoin pegged to the U.S. dollar. The new digital dollar runs on the Stellar blockchain and targets the company’s more than 60 million active customers and nearly 500,000 physical service locations worldwide.MGUSD launches first in the U.S.According to the company’s announcement on Tuesday, MGUSD was initially rolled out for users in the United States. MoneyGram plans to expand the product globally in the coming period. The stablecoin will function as a digital dollar balance inside the MoneyGram app. MGUSD's concept image. Source: BusinessWire Through this structure, users will be able to hold digital assets denominated in U.S. dollars, transfer them and convert them into cash through MoneyGram’s physical locations when needed. In doing so, the company has connected digital asset infrastructure directly to its existing money transfer network.Bridge, M0 and Fireblocks support the infrastructureThree key partners are involved in MGUSD’s technical and regulatory infrastructure. The stablecoin will be issued by Bridge, which operates under Stripe. M0 will provide the smart contract infrastructure managing MGUSD’s minting and burning processes.Fireblocks, meanwhile, will handle custody and wallet distribution. MoneyGram will hold MGUSD in Fireblocks wallets and then transfer the funds to customer wallets embedded in the MoneyGram app.MoneyGram Chairman and CEO Anthony Soohoo said MGUSD was developed especially for customers sending money across borders. According to Soohoo, the stablecoin was designed for users sending funds to their families and for large populations with limited access to financial services.Stellar partnership enters a new phaseMoneyGram’s decision to choose the Stellar blockchain is not the result of a new partnership. The company has been working with the Stellar Development Foundation for nearly five years on stablecoin-powered money transfer solutions. During this period, MoneyGram offered money movement and cash-out services through Circle’s USDC stablecoin.With MGUSD, MoneyGram has moved beyond using a third-party stablecoin and launched its own digital dollar. Stellar Development Foundation CEO Denelle Dixon also described the launch as a new milestone showing what a purpose-built blockchain infrastructure can deliver when combined with a trusted payments network.Stablecoin race acceleratesMoneyGram’s move comes in parallel with the growing stablecoin competition in the payments sector. PayPal had previously entered this field with PYUSD. Western Union has also announced plans to launch a stablecoin called USDPT on Solana.SoFi is following a similar strategy with SoFiUSD, while payment giants such as Visa are also integrating stablecoin infrastructure into cross-border settlement processes. The appeal of this area for traditional payment companies is clear. Stablecoins offer a transfer infrastructure that operates 24/7, is faster and may potentially be less costly.MoneyGram’s strongest advantage in this race is its broad physical service network. Fully digital stablecoin products often require a bank account, a crypto wallet or access to an online platform. MoneyGram, however, could make it easier for users to move between digital dollars and cash through its hundreds of thousands of physical locations.This model may create a notable advantage, especially in regions where access to banking services is limited. The company is positioning stablecoins not only as a product for the crypto market, but also as a new building block for its global money transfer network.The company had accelerated its stablecoin preparationsMoneyGram has gradually strengthened its preparations in this field in recent months. In December, the company partnered with Fireblocks for stablecoin settlements. Last month, it was named one of the anchor remittance validators on Tempo, the blockchain backed by Stripe and Paradigm. In May, it also expanded crypto-to-cash withdrawal services for Kraken users.
Binance Opens 7,000 U.S. Stocks to Crypto Users
Binance has launched a new product that allows users outside the United States to invest directly in more than 7,000 stocks and ETFs using crypto assets. On Monday, the exchange began offering non-U.S. customers access to more than 7,000 U.S.-listed stocks and exchange-traded funds. The platform offers zero commissions and fractional share purchases starting from a minimum of $5. According to Binance’s official announcement, users will be able to fund their positions with USDC, USDT, BNB and several other digital assets. Stock purchases will be executed by brokerage firm Nest Trading, while custody, dividend payments and corporate actions will be handled by New York-based Alpaca.Co-CEO Richard Teng told Fortune that U.S. equities account for more than half of the global market, yet access to these markets remains costly and complex for investors in many countries. Binance is positioning this product as a direct response to that gap.bStocks: Stocks Are Coming On-ChainOn the same day, Binance also announced a new feature called bStocks. The tool is not live yet, but it will allow users to convert their stock holdings into tokenized assets on BNB Chain.The exchange said bStocks would provide near-instant settlement, compared with traditional stock settlement cycles that can take up to one day. In addition, the tokens created through the feature will be usable in DeFi applications such as lending and liquidity provision. Binance said the feature will become available in the coming weeks.Tokenized Stocks Continue to GrowThe move comes in the middle of rapid growth in the tokenized equities market. According to market data, daily trading volume in tokenized stocks and ETFs hit a record $3.57 billion on May 19, with Binance and Hyperliquid standing out in that volume.A similar momentum is visible across the broader sector. Kraken and Robinhood launched their own tokenized stock products over the past year. What sets Binance’s version apart is that users will be able to initiate the tokenization process themselves.Still, Binance’s path in this area has not been entirely smooth. In 2021, the exchange had to shut down its previous tokenized stock program after regulatory pressure from Germany, Hong Kong and several other markets. Its return came in February, when Binance was reported to have listed ten tokenized U.S. stocks and ETFs through a partnership with Ondo Finance.Meanwhile, the stock trading launch directly aligns with the “super app” vision outlined by CEO Richard Teng in a wide-ranging interview with The Block in April. In that interview, Teng spoke about Binance’s goal of moving beyond crypto trading and becoming a global financial platform.
SEC Registers Stablecoin Company Paxos: The First and Only
Paxos subsidiary Paxos Securities Settlement Company (PSSC) has received official registration from the U.S. Securities and Exchange Commission (SEC) as a clearing agency. The company became the first and only blockchain infrastructure firm to receive this approval after a seven-year regulatory process.The registration was granted under Section 17A of the Securities Exchange Act of 1934. With this status, PSSC is authorized to operate as a central securities depository in the United States. The approval is a temporary registration, subject to the company meeting ongoing regulatory requirements.Paxos CEO and co-founder Charles Cascarilla summarized how the company reached this point in his statement: “This registration is the product of a seven-year journey. We began with our No-Action letter in 2019, then launched our pilot program with some of the world’s largest and most sophisticated financial institutions. Most importantly, it gives our partners access to the most comprehensive infrastructure that can continue to evolve alongside the market and blockchain technology.”Pilot program ongoing since 2020Since February 2020, PSSC has been offering clearing and settlement services for U.S. equities under the SEC’s no-action relief. The pilot program was conducted with the participation of “leading global financial institutions.” In 2022, a blockchain-based trial launched in partnership with State Street enabled same-day settlement, or the “T+0” model, for equity trades.Based on the findings from this process, the company argues that blockchain infrastructure offers concrete advantages in both cost and speed compared to traditional post-trade processes.Where traditional finance meets blockchainThis step comes at a time when traditional capital markets and blockchain technology are becoming increasingly intertwined. The Depository Trust & Clearing Corporation (DTCC) also recently announced its own tokenization service with the support of major Wall Street firms. Paxos’ SEC registration stands out because it places this convergence within a concrete regulatory framework.Paxos already has partnerships with major names including PayPal, Interactive Brokers, Mastercard and Mercado Libre. The company also issues PayPal’s PYUSD stablecoin and the Pax Gold (PAXG) token. Last October, due to a technical error, the company accidentally minted 300 trillion PYUSD and then burned the amount. Following that incident, Paxos received conditional approval to become an OCC national trust bank; this status would allow the company to operate under a single federal framework instead of a state-by-state regulatory patchwork.Paxos’ registration is a sign that blockchain infrastructure can no longer be ignored in institutional finance. Seven years of negotiations with the SEC and pilot programs may serve as a reference point not only for Paxos, but also for other companies trying to move forward in this field. Moving infrastructure layers such as clearing and settlement onto blockchain has mostly remained a theoretical debate until now. PSSC’s official registration brings that discussion onto a real regulatory footing.
Sui Mainnet Halted: Network Unable to Process Transactions for Hours
Sui, positioned as a rival to Ethereum and Solana, has stood out as one of the layer-1 blockchains known for high transaction speed and low fees since its 2023 launch. Developed by Mysten Labs, a company founded by former members of Meta’s canceled Diem project, the network has become an attractive infrastructure option especially for DeFi and blockchain-based gaming applications. However, on Thursday, Sui’s mainnet went down and transactions came to a halt.Sui Network Comes to a HaltThe mainnet of Sui, the layer-1 blockchain developed by Mysten Labs, went down on Thursday. The network was unable to produce new blocks for nearly two hours, and all transactions were suspended during that period. The Sui team issued an official statement on X regarding the outage: “Sui Mainnet is currently experiencing a network pause. The Sui Core team is actively working on a resolution. Please note that transactions may be paused at this time.” Data from block explorer SuiScan confirmed that the network had failed to produce new blocks for an extended period. Updates on the status page stated that the issue was identified at 19:36 and that the fix had reached the implementation stage.This Is Not the First TimeFor Sui, this is not an unfamiliar picture. In fact, it marks the network’s third notable outage. The previous two incidents occurred in November 2024 and January 2026. During the January outage, developers also spent hours bringing the network back online.Launched in 2023, Sui is one of the new-generation layer-1 networks positioned as a competitor to Ethereum and Solana. High transaction speed and low fees are among its core selling points. The network was developed by a team that split off from Meta’s canceled Diem stablecoin project.After news of the outage spread, the network’s native token SUI fell by 8% over the past 24 hours. However, it is difficult to say whether this decline was directly caused by the outage or whether it coincided with broader market conditions, as crypto markets were also showing a mixed performance during the same period. At the moment, there is no information suggesting that user funds have been affected.Blockchain outages become an especially critical issue when the networks involved provide infrastructure for DeFi and gaming applications. If a protocol defines itself as high-performance infrastructure, a network halt lasting for hours clearly conflicts with that image. Developers and investors have a strong reason to monitor such incidents closely, as ecosystem reliability is a decisive factor for institutional integrations and large-scale applications.The Sui team said it will continue to share further updates as the investigation progresses.
Polymarket and Nasdaq Reach Agreement: Prediction Market for Private Companies to Launch
Polymarket, a prediction market platform, has announced the launch of its first prediction markets linked to the performance and key milestones of privately held companies. The company's exclusive agreement with Nasdaq Private Market is a notable step in this field. With the new products, users will be able to trade on topics such as the valuation processes of privately held companies, potential IPO dates, and secondary market movements.This development comes at a time of increased investment interest in private companies. In recent years, many technology and startup companies have delayed their IPOs, while the value generated in private markets has grown rapidly. According to data shared by Polymarket, there are approximately 1,600 unicorns worldwide, meaning privately held companies with a valuation exceeding $1 billion. The total value of these companies has surpassed $5 trillion. However, access to this value increase has long been largely limited to institutional investors and high-net-worth individuals. Expanding Access to Private MarketsPolymarket aims to open up the flow of information in this area to a wider user base with its new prediction markets. Shayne Coplan, the platform's founder and CEO, stated that prediction markets are a powerful tool for democratizing access to financial information and opportunities. According to Coplan, this launch opens the way for individual users to interact with private company markets that they previously couldn't access.In the new system, Nasdaq Private Market will act as the analytics data provider for private company markets on Polymarket. This means that the results in the markets where users trade will be based on reliable and verifiable data. Nasdaq Private Market is known as one of the leading institutions providing liquidity, capital, and investment infrastructure for private companies and investors.Nasdaq Private Market CEO Tom Callahan said that high-integrity data becomes critical the point at which retail users enter any market. Callahan stated that Polymarket has built a platform that can reach a wider audience, and Nasdaq Private Market will provide the necessary data for the accurate determination of results in these markets.Polymarket's new move is not only targeting individual users. The company states that these products can also create an additional price discovery tool for institutional investors. Prediction markets trading on private companies can be considered a new signal reflecting investor sentiment in real time. This signal could complement the transaction-based pricing data already offered by Nasdaq Private Market.Rodolfo Sanchez, Vice President of Data at Nasdaq Private Market, also emphasized that the data flow works in two directions. According to Sanchez, while Nasdaq Private Market supports markets with institutional-quality data, transaction activity on Polymarket provides a broader and real-time indicator of the performance of private companies.Prediction markets have recently gained more attention in many areas, from elections to cryptocurrencies, from economics to technology. In these markets, users trade based on the outcome of future events. Prices generally reflect market expectations regarding the probability of the event occurring.Polymarket's new products focusing on private companies are interpreted as an important step towards making private markets more transparent and traceable. The longer companies remain private, the more visible the value created in the pre-IPO period becomes, increasing the need for data in this area. The collaboration between Polymarket and Nasdaq Private Market targets precisely this gap. The first private company forecast markets have been launched on Polymarket, with plans to add new markets regularly in the future. This step both expands the scope of forecast markets and creates a new layer of information and pricing for the private company ecosystem.
Fidelity’s Chainlink-Backed Fund Receives AAA Rating
Fidelity International continues to expand its push into tokenized finance. The company has launched its first tokenized fund, the Fidelity USD Digital Liquidity Fund, in collaboration with Chainlink and Sygnum. Known as FILQ, the product gives institutional investors blockchain-based access to yield from high-quality securities such as government bonds.The fund is designed as a cash management tool suited to digital asset markets that operate 24/7. With FILQ, Fidelity International aims to offer institutional investors a structure that provides both yield and more flexible liquidity for onchain transactions. The product follows the same investment strategy as the company’s existing Irish-domiciled low-volatility net asset value fund. That fund has around $7 billion in assets under management.Moody’s assigns top ratingAfter its launch, FILQ received an Aaa-mf rating from Moody’s Ratings. This rating signals the highest level of credit quality, strong liquidity, and capital preservation capacity for money market funds. Moody’s also gave a top-tier assessment to BlackRock’s tokenized money market fund BUIDL during the same period. The development shows that tokenized government debt and money market funds are becoming a more serious category for traditional financial institutions.Money market funds generally invest in short-term, highly liquid debt instruments. Treasury bills, short-term government bonds, certificates of deposit, and similar instruments form the basis of these products. Investors often use these funds to park cash, earn low-risk yield, and preserve liquidity.FILQ’s main difference is that it brings this traditional structure into a tokenized model running on Ethereum. The fund’s tokens use the ERC-20 standard. Institutional investors can subscribe to the fund or redeem their holdings through stablecoin settlement. This structure is especially important for instant settlement, onchain accounting, and faster fund movement in digital asset markets.Chainlink to bring NAV data onchainThree key institutions stand out in FILQ’s infrastructure. Fidelity International acts as the fund’s asset manager and issuer. Sygnum provides onchain fund registration, smart contract-based settlement, and institutional client access through its Desygnate tokenization platform. Chainlink brings the fund’s net asset value and distribution data onchain.JPMorgan provides the approved daily NAV data for the fund. Chainlink publishes this data on the blockchain, allowing investors to track the fund’s pricing in a more transparent way. As a result, traditional fund management, regulated data providers, and onchain financial infrastructure come together within the same product.Sygnum also handles KYC and AML processes for institutional investors. This allows investors to subscribe to fund tokens, hold them, or enter the redemption process. FILQ is available only to eligible institutional investors and is not open to U.S. persons.Tokenized bond market grows rapidlyFILQ’s launch is part of the rapid growth seen in tokenized real-world assets. According to RWA data, the total size of tokenized U.S. government debt products has grown from around $1 billion to more than $15 billion in two years. BlackRock’s BUIDL fund has become one of the largest products in this market, while major institutions such as Franklin Templeton and JPMorgan continue to expand their blockchain-based cash management products.While stablecoins are mainly used for price stability and payments, tokenized liquidity funds such as FILQ provide access to regulated yield-bearing assets. For this reason, the product could serve as a new bridge for cash management, collateral movement, and real-time settlement in digital asset markets. Fidelity’s structure with Chainlink and Sygnum stands out as an important step toward making tokenized finance more practical at the institutional level.
JPMorgan Files for Ethereum-Based Money Market Fund
JPMorgan, one of the largest banks in the US, has added another step to its tokenization efforts. The bank has applied to the US Securities and Exchange Commission for a new money market fund called the JPMorgan OnChain Liquidity-Token Money Market Fund. Planned to trade under the ticker symbol JLTXX, the fund will operate on Ethereum and utilize the Kinexys Digital Assets infrastructure. According to the prospectus dated May 12th, the fund will normally invest only in US Treasury bonds and overnight repurchase agreements collateralized with Treasury bonds. JPMorgan states that the fund will be managed with a target net asset value of $1. This structure makes the product a corporate cash management solution focused on low-risk, short-term liquidity instruments. The most notable aspect of the application is the fund's connection to the stablecoin market. JPMorgan positions JLTXX to meet the appropriate reserve asset requirements that stablecoin issuers must hold under the GENIUS Act passed in the US. Thus, the fund stands out not only as a traditional money market instrument for stablecoin companies, but also as a reserve management option compatible with on-chain systems.New model for stablecoin reservesIt is specifically emphasized that JLTXX will not be classified as a stablecoin. The fund itself is not a stablecoin issuer, and its token balances do not have stablecoin characteristics. Nevertheless, the structure may allow stablecoin issuers to manage their reserves in a more controlled, traceable, and regulated instrument.The fund's access model will be entirely permissioned. Only verified wallet addresses will be able to conduct transactions. These addresses will be included in the allow-list system for buying, selling, redemption, and transfer transactions. Legal ownership will not be based directly on the blockchain balance, but on investor records held by the transfer agent. Therefore, token balances on Ethereum will function to transmit transaction requests and provide operational ease; legal ownership records will continue to be maintained in the traditional fund infrastructure.On the JPMorgan stablecoin interface side, the Morgan Money platform stands out. According to the application, stablecoin services will only be offered through Morgan Money, and the supported stablecoin will be USDC. This structure shows that the bank is designing its on-chain products not entirely with an open DeFi logic, but with institutional control mechanisms. The choice of Ethereum is no coincidenceJPMorgan's launch of its new fund on Ethereum seems consistent with the bank's previous moves. In December 2025, the bank launched its tokenized money market fund, MONY, also on Ethereum. With an initial investment of $100 million, MONY was one of the first major steps in JPMorgan's strategy to tokenize short-term Treasury assets. JLTXX, on the other hand, takes this model to a broader institutional framework. The fund will launch on Ethereum, but the prospectus leaves open the possibility of expanding to other blockchain networks in the future. This detail shows that JPMorgan does not want to be limited to a single network and is evaluating different chains for different institutional needs. Market size also played a role in the choice of Ethereum. According to RWA.xyz data, Ethereum is the network with the largest share in the distributed real-world asset market. The fact that the network has a strong ecosystem in tokenization projects, and that large institutions like BlackRock and Franklin Templeton also use Ethereum in similar products, makes this choice more defensible for JPMorgan. The Solana detail is noteworthy.Although Ethereum stands out in the application, it is seen that JPMorgan also assigns a separate role to Solana in its institutional cash architecture. It is stated that Anchorage Digital is working with JPMorgan on a tokenized vehicle solution within the scope of its "Cashless Reserves" initiative. In this model, Solana is considered as an infrastructure that can be used for faster reserve movement and instant liquidity operations. This picture shows that JPMorgan is trying to establish a multi-layered system instead of a single-chain approach in institutional cash management. While Ethereum stands out for fund shares, ownership records, and institutional distribution processes; Solana is positioned more on the side of fast reserve movements and operational liquidity.
Wall Street Firm Picks Chainlink: Collateral Management Moves to Blockchain
DTCC, one of Wall Street’s most critical infrastructure institutions, will use Chainlink infrastructure for its blockchain-based collateral management platform. The move extends the previous collaboration between the two companies into one of the core risk management areas of financial markets.The Depository Trust & Clearing Corporation announced that its Collateral AppChain platform will use Chainlink’s Runtime Environment technology and data standard. The platform is designed to support pricing, valuation, margin calculations, collateral optimization and settlement processes.DTCC’s new system runs on a Besu-based blockchain network. The goal is to enable asset tokenization and near real-time collateral management around the clock.Collateral management moves to blockchain on Wall StreetIn today’s collateral systems, assets are often spread across different institutions, account structures and time zones. This setup makes it harder to move collateral quickly, especially during periods of market stress.DTCC’s Collateral AppChain project aims to reduce this problem. The platform enables assets used as collateral to be tokenized and allows certain operational processes to be automated through smart contracts.As a result, collateral is expected to move faster across both traditional financial markets and blockchain networks. The system stands out with its goal of creating a more flexible collateral structure that can operate 24/7 across global markets.Nadine Chakar, global head of digital assets at DTCC, said tokenization and distributed ledger technology will be used to modernize collateral mobility. According to Chakar, the aim is to provide 24/7, near real-time collateral management across global markets and blockchain networks.Chainlink will provide the data and coordination layerChainlink will serve as the data and orchestration layer in this structure. The platform’s price data, valuation processes, collateral movements, eligibility checks, margin calculations and settlement instructions will be supported by Chainlink infrastructure.Chainlink is known as a decentralized oracle network that allows blockchain networks to securely access real-world data. Since blockchains cannot directly access external data sources such as prices, weather data, API data or institutional data on their own, oracle systems play a critical role at this point.The use of Chainlink in DTCC’s collateral platform shows that oracle technology is finding a place not only in DeFi applications but also in the core operations of traditional finance. Reliable data flow is especially important in areas such as pricing and valuation, where it plays a decisive role in collateral management.A new phase after the Smart NAV pilotThe collaboration between DTCC and Chainlink is not entirely new. In 2024, the two companies carried out a pilot project called Smart NAV. The pilot tested bringing mutual fund net asset value data onto blockchain networks.Major financial institutions such as JPMorgan, Franklin Templeton and BNY Mellon also participated in the pilot. The project focused on how fund tokenization could work across multiple blockchain networks.The Collateral AppChain move takes this collaboration into a more operational and institutional field. Collateral management plays a key role in balancing risk, securing transactions and using liquidity efficiently in financial markets.DTCC expands its tokenization effortsBeyond collateral management, DTCC is also expanding its work in tokenization. Earlier this month, the company announced that more than 50 firms had joined a working group for The Depository Trust Company’s tokenization service. Under this plan, limited production trades are expected to begin in July, while the service is planned to launch in October.DTCC’s scale in financial markets also increases the significance of this development. The company’s subsidiaries processed $4.7 quadrillion in securities transactions in 2025. Its depository subsidiary provided custody and asset servicing for securities issues valued at $114 trillion.
Ripple Joins Forces with South Korean Bank
One of South Korea’s pioneers in digital banking, K Bank, has entered into a strategic partnership with Ripple to test blockchain-based solutions for cross-border remittances.Under the agreement, K Bank is leveraging Ripple’s global payment network and blockchain infrastructure to assess whether it can achieve tangible improvements in speed, cost efficiency, and transparency in international money transfers. At the center of the project is Ripple’s SaaS-based digital wallet solution, Palisade. Source: @sentosumosaba/X Test process deepens in second phaseThe partnership is not entirely new; the two parties had previously launched a proof of concept (PoC). In the initial phase, transfers were tested through a separate application. During this stage, K Bank used its in-house wallet infrastructure to observe the system’s core functionality. However, as the project progressed, the need for a more scalable and regulation-compliant structure became increasingly clear.Accordingly, the project has moved into its second phase. In this stage, the bank is virtually integrating customer accounts with its internal systems to create a testing environment closer to real-world conditions. At the same time, key metrics such as transaction stability, security, and performance are being analyzed in detail. Another notable development is K Bank’s shift from its proprietary wallet to evaluating Ripple’s Palisade solution.Palisade’s ready-made infrastructure stands out with advanced security layers, hardware security modules, and multi-layered authorization systems. This could significantly reduce the complexity of regulatory obligations such as anti-money laundering (AML), sanctions screening, and key management, which would otherwise arise from building a system from scratch. Additionally, its compliance-ready structure has the potential to shorten time to market.The testing process is not limited to technical infrastructure. K Bank is also experimenting with on-chain transfers alongside partners in the United Arab Emirates and Thailand. In this model, funds move directly عبر blockchain rails, reducing reliance on traditional intermediaries and enabling near-instant settlement.This development is also significant for Ripple’s expansion strategy in Asia. The company recently announced a partnership with South Korean insurance giant Kyobo Life to tokenize government bond settlements. This initiative aims to enable near real-time settlement of government securities while also exploring stablecoin-based payment infrastructure.The rapid evolution of regulatory frameworks across Asia is paving the way for such initiatives. Markets such as South Korea, Japan, Hong Kong, and Singapore are moving quickly to establish clearer rules for crypto assets and stablecoins. This, in turn, is making it increasingly attractive for banks and financial institutions to test blockchain-based solutions.
Alleged Security Vulnerability in the Cosmos Ecosystem: $8 Billion at Risk
Security researcher Doyeon Park discovered a serious zero-day vulnerability in CometBFT, the consensus layer of the Cosmos ecosystem, and publicly shared it via the X platform. This vulnerability, with a CVSS score of 7.1, is categorized as "high risk." While it doesn't directly lead to fund theft, it can cause nodes on the Cosmos network to lock up during block synchronization. This vulnerability threatens an ecosystem that currently protects over $8 billion in assets. Park's reason for publicly disclosing this vulnerability appears to be more of a procedural crisis than a purely technical finding. The researcher states that she followed the widely accepted Coordinated Vulnerability Disclosure (CVD) process for responsible disclosure, but did not encounter sufficient cooperation and responsible decision-making mechanisms from the vendor. After the vendor announced its final decision, Park chose transparency rather than remaining silent. According to Cosmos Labs' security policy, publicly disclosing vulnerabilities affecting the ecosystem via GitHub, blog posts, or social media is prohibited. The vulnerability is considered off-limits until Cosmos Labs fixes the issue and officially confirms the disclosure.What is CometBFT, and why is it so critical?Cosmos's core layer is built on the CometBFT (formerly Tendermint) consensus engine, which is based on the Byzantine Fault Tolerant protocol and developed in Go. From a technical standpoint, strict determinism is an indispensable foundation in BFT systems like CometBFT. This is because each correct validator must calculate identical state transition results when given the same input; any deviation can lead to consensus failure.In a similar vulnerability (ASA-2025-003) that surfaced last October, it was found that CometBFT performed insufficient validation in processing BitArray messages; in the worst-case scenario, it was revealed that the nodes in the network could bring not only the node receiving the malicious message but the entire network to a standstill. The fact that the vulnerability Park has now disclosed operates through similar mechanisms has raised concerns about CometBFT's consensus infrastructure. Cosmos: "The Internet of Blockchains"Cosmos is a project described by its founders as the "internet of blockchains"; its aim is to create a network of interconnected crypto networks with open-source tools that facilitate transactions between them. As of today, more than 200 chains are using the Cosmos infrastructure in a live environment.The ecosystem is noteworthy for its institutional appetite as well as its technical infrastructure. Teams such as Ripple, Ondo, Figure, and Stable have carried out large-scale deployments on Cosmos in 2025; these deployments have extended to banking, finance, government, and corporate blockchain areas. Cosmos Labs' vision is to transform CometBFT and IBC into global financial railways and to make Cosmos chains the cornerstone of payment infrastructure through tokenization.However, parallel to this ambitious roadmap, security issues remain on the agenda. Modular design means that application chains inherit risks arising from shared components (SDK, CometBFT, IBC-Go, CosmWasm VM); A vulnerability in a widely used standard module or underlying protocol can affect many independent chains simultaneously. At the time of writing, ATOM, the coin of the Cosmos ecosystem, is trading at $1.80.
Ripple is Preparing Its XRP Ledger Against the Quantum Threat
Ripple has unveiled a four-stage roadmap to make its XRP Ledger (XRPL) resilient against quantum computers. The company aims to complete the entire transition by 2028. The plan encompasses a broad process ranging from emergency protocols to a full network update.Is the threat real?The risk of quantum computers to blockchain security has long been a theoretically assessed topic. However, Google's recent announcement has reignited this debate: According to the company, a quantum computer could attack the Bitcoin network with a computing power far below previous estimates. Some analysts point to 2029 as "Q-day," the estimated date when a quantum machine capable of breaking the current cryptographic infrastructure could become operational.In the case of XRPL, the threat is three-layered. When each transaction is signed, the account's public key becomes visible on the chain. A quantum computer could reverse engineer the private key from this public key; that is, it could gain access to the assets in the account. Moreover, accounts whose public keys have been visible on the chain for a long time are at greater risk: The longer the key is visible, the more time a potential attacker is given. There is also an operational dimension: The transition to quantum-resistant systems is not just a technical matter; it is a process that directly affects millions of XRP users and all applications built on XRPL. Four-stage planThe first stage is called "Q-day preparation" and is an emergency protocol. In this stage, which will be activated if the quantum threat occurs earlier than expected, classical public key signatures will no longer be accepted by the network; it will be mandatory to move all funds to quantum-secure accounts. In addition, zero-knowledge proofs will be used to allow account holders to prove ownership without disclosing their keys. This method allows assets to be transferred securely even if the key is compromised; no one will lose their funds.The second stage is already underway and is planned to be completed in the first half of 2026. Ripple's applied cryptography team will identify all quantum vulnerabilities in the network; The team will test post-quantum cryptography algorithms proposed by the US cybersecurity standards agency NIST. However, these algorithms come at a cost: larger keys and signatures consume more system resources. Therefore, the team is evaluating the necessary system changes and balances at this stage. Quantum security research firm Project Eleven is partnering with Ripple in this process, conducting validator-level tests and early prototyping.In the third phase, in the second half of 2026, quantum-resistant signatures will be integrated into the test network along with existing signature methods. Developers will be able to work with the new cryptography without touching the live network. At this stage, Ripple aims not only to change signature methods but also to rethink XRPL's cryptographic foundations on a broader scale: quantum-resistant approaches are also being explored for privacy and secure data processing. These are critical for features such as compliant tokenization and confidential transfers.The fourth and final phase covers the full transition, planned to be completed by 2028. Ripple will prepare a new amendment proposal to be submitted for approval to the XRPL ecosystem and will fully migrate the network to post-quantum cryptography-based signatures.Why now?Bitcoin developers are also conducting similar work, so this is not a concern unique to Ripple. However, Ripple's roadmap is noteworthy: The four phases are designed to include a possible early Q-day scenario, and the transition process is structured to take place with as little disruption as possible. Meanwhile, the XRP price is trading at $1.44.
Europe's Major Stock Exchanges on Blockchain with Chainlink
SIX Group, one of Europe's leading stock exchange operators, has taken a significant step in the blockchain sector. The company is preparing to move stock market data generated through its Swiss-based SIX Swiss Exchange and Spanish-based BME Exchange directly onto the blockchain via the Chainlink infrastructure. This integration makes regulated market data readable by smart contracts, opening up new use cases in tokenization and DeFi. Under the new system, price data from exchanges will be transferred to the blockchain via Chainlink's enterprise data publishing service, DataLink. This will allow developers to directly access real-time and verified market data. This represents a critical infrastructure for many areas, such as tokenized stock indices, structured financial products, decentralized finance applications, and prediction markets. Matthew Nurse, Head of Market Data at SIX, states that the integration brings leading Swiss and Spanish stocks to the blockchain and facilitates access to reliable data sources for digital asset applications.European stock exchange data is being moved to the blockchainSIX Group operates as an infrastructure provider in both the Swiss and Spanish financial markets. The company's current data flow; It includes real-time transactions and index data from SWXess and BME trading platforms. With the new collaboration, this data will be transferred directly to the blockchain environment without the need for any additional infrastructure setup.Chainlink's DataLink service plays a critical role here. The system allows data providers to broadcast from a single point while distributing this data to more than 40 blockchain networks. This allows developers to use the same source without experiencing data incompatibility between different networks.The scale of the data is also remarkable. According to data released by SIX, the total trading volume on the Swiss and Spanish exchanges reached 154.9 billion Swiss francs in February 2026 alone. Of this, 104.4 billion francs was traded through SIX Swiss Exchange and 55.3 billion euros through BME Exchange. The total market value is estimated to be around 2 trillion euros.A critical threshold for tokenizationReliable data flow is essential for creating real financial products on the blockchain. Without price data from traditional markets, it is not possible for tokenized assets to function properly. Therefore, bringing data from regulated exchanges onto the blockchain is a long-awaited development in the industry.This integration specifically targets four main use cases: tokenized indices requiring real-time prices, structured products needing reference data, DeFi protocols seeking compliant data, and prediction markets requiring accurate settlement data. All of these areas require a data stream that smart contracts can read directly.The European dimension is also noteworthy. Offering Swiss and Spanish markets through a single data pipeline provides a significant advantage for teams developing products based on multiple markets. At the same time, maintaining data standards under MiFID and MiFIR indicates continuity on the regulatory side.Chainlink strengthens its role as a bridgeWith this collaboration, Chainlink further strengthens its role as a data bridge between traditional finance and blockchain. Due to the technical structures of different blockchains, it is difficult for exchanges to directly publish data; Chainlink translates the data into the appropriate format, transfers it to the chain, and undertakes the verification process.This model eliminates the need for data providers to build their own blockchain infrastructure. Access to numerous networks becomes possible with a single integration. Security, standardization, and continuity are provided at the middleware layer. Meanwhile, the LINK price is trading at $9.13, down 0.4% in the last 24 hours.
Tether Introduces Innovation: “People’s Wallet”
Tether has announced tether.wallet, a new product that brings its influence in the cryptocurrency ecosystem directly to the end user. Positioned as a "People's Wallet," this new wallet opens up the global financial infrastructure that Tether has been providing in the background for years, directly to individuals. Operating on its own self-custody logic, the application allows users to manage their assets without the need for intermediary institutions. Tether has long aimed to increase financial inclusion, especially in regions with limited access to the traditional financial system. According to the company, hundreds of millions of people worldwide still lack access to basic financial services. Digital dollar solutions are becoming increasingly critical for individuals living in economies struggling with high inflation. The fact that the number of wallets using Tether infrastructure is expected to exceed 570 million by March 2026 demonstrates how rapidly this demand is growing. Tether infrastructure is being opened directly to the user for the first timeWith the new wallet, Tether has moved beyond being just an infrastructure provider and launched a product that focuses directly on the end-user experience. According to the company's statement, tether.wallet opens up one of the largest digital currency distribution networks ever built for the daily use of individuals.The wallet; It offers support for digital dollar assets such as USD₮ and USA₮, as well as the gold-backed XAU₮ and Bitcoin. These assets can be used across different networks such as Ethereum, Polygon, Arbitrum, and Plasma. Furthermore, Bitcoin transactions can be performed both on-chain and via the Lightning Network. This multi-network support largely eliminates the need for users to switch between different blockchains.One of the standout features of tether.wallet is its ease of use. Users can make transfers using readable usernames in the format [email protected] instead of long and complex wallet addresses. This structure aims to reduce the risk of errors, especially for new users. Also, the fact that transaction fees can be paid directly with the sent asset eliminates the need to hold a separate "gas token".In terms of security, the wallet is entirely user-controlled. All transactions are signed on the device, and private keys remain accessible only to the user. This approach reduces the need for trust in centralized platforms while giving the user complete control.Tether CEO Paolo Ardoino states that the company has achieved significant scale in the area of financial inclusion to date. According to Ardoino, the next step is to make this infrastructure more accessible and practical for everyone. The goal is to reduce technical barriers to cryptocurrency use and transform value transfer into a simple experience for users, like sending a message. tether.wallet is also built on the open-source Wallet Development Kit (WDK) developed by Tether. This technology is designed to allow not only individuals but also machines and artificial intelligence systems to create their own storage wallets. The company envisions a financial ecosystem in the future where billions of people and many more machines can instantly transfer value to each other. While the initial version supports a limited number of networks and assets, Tether plans to add new blockchain integrations in the future. The application keeps the technical details in the background, automatically showing the user which networks and balances are available.
Polkadot-Linked Bridge Hack: 1 Billion DOT Tokens Minted
A security vulnerability in the crypto market has emerged, this time through the Hyperbridge infrastructure. A flaw in the system that enables asset transfers between Ethereum and other blockchains allowed an attacker to generate tokens with a theoretical value of billions of dollars. However, the profit obtained was far below expectations.1 billion DOT generatedIn the incident that occurred on Sunday, the attacker targeted the verification process in Hyperbridge's gateway contract on Ethereum. Thanks to this vulnerability, 1 billion bridged Polkadot (DOT) tokens were generated. Although this amount corresponds to a value of approximately $1.19 billion on paper, the amount the attacker received after the sale was only about $237,000. The attack targeted the bridge mechanism, not the Polkadot network itself. Therefore, Polkadot's mainnet and native DOT token were not affected. The problem arose in the verification phase of cross-chain messages. Normally, the validity of these messages is confirmed with strong cryptographic proofs. However, it was understood that the verification method used here could be bypassed in a specific scenario. Source: CoinDesk According to on-chain data, the attacker sent a forged message via the "dispatchIncoming" function in the system. This message was routed to the TokenGateway contract and processed without passing the necessary checks. Specifically, it was found that a zero-value record was kept in the "receipt" check, which should have verified the message's validity. This indicates that the verification process was either incomplete or completely disabled in a particular call path. With the acceptance of the forged message, the attacker gained administrator privileges in the relevant token contract. From this point, the process proceeded very quickly. 1 billion tokens were minted in a single transaction, and then these assets were released into the market through various transactions. Sales were primarily conducted in the DOT-ETH liquidity pool on Uniswap. As a result of sales in multiple transactions, a total of approximately 108 ETH was obtained.Token price declinedHowever, the most critical part of the attack emerged here. The extremely limited bridged DOT liquidity on Ethereum caused the sales to put severe pressure on the price. The market couldn't handle such a large supply, and the token price plummeted. As a result, the attacker earned a relatively small amount of money despite having the massive amount.Security experts point out that such vulnerabilities pose even greater risks, especially in bridge systems. Because bridges have high authority over token contracts on the target chain, even a single error in the verification mechanism can lead to unlimited token production. The main reason the damage was limited in this case was the lack of liquidity. In other words, a similar vulnerability in deeper markets or assets with higher trading volumes could cause much larger losses. There has been no official statement from Hyperbridge yet. Furthermore, it remains unclear whether other tokens using the same gateway infrastructure pose a similar risk.
A First in Europe: The IPO Process is Moving to Blockchain
France-based Lightning Stock Exchange (Lise) is preparing for a significant milestone in European capital markets. The Paris-based exchange is preparing to host the first initial public offering (IPO) to be conducted entirely on blockchain infrastructure. This step is noteworthy as it demonstrates that tokenization can be used not only in secondary markets but also directly in the IPO process.Eyes on April 9thLise plans to list French aerospace supplier ST Group on April 9th. If this process is successfully completed, it will be the first IPO in Europe to be conducted entirely onchain. This development could pave the way for faster and lower-cost access to capital markets, especially for small and medium-sized enterprises.ST Group stands out as a company that produces composite parts used in aircraft, defense systems, and space projects. The company states that it has potential program revenue that could reach approximately €59 million in the next decade. It aims to expand its production capacity in line with the increasing global defense and aerospace demand. Lise's move comes after receiving approval under the European Union's Distributed Ledger Technology (DLT) pilot regime. This regulatory framework allows for the testing of blockchain-based solutions in financial markets. Lise aims to use this opportunity to completely redesign the traditional initial public offering (IPO) process. Tokenization has become an area of interest, particularly for large financial institutions, in recent years. Representing assets such as bonds, funds, and stocks on the blockchain offers the potential for faster transaction consensus, lower costs, and greater transparency. Therefore, many major players have announced plans to trade tokenized assets on their platforms. However, Lise's approach takes this trend a step further. Here, not only post-transaction processes but also the IPO itself takes place on the blockchain. This model could offer an attractive alternative, especially for small and medium-sized enterprises (SMEs) that face high costs and long transaction times in traditional markets. The IPO is supported by major French financial institutions, primarily BNP Paribas, as well as CACEIS (a subsidiary of the Crédit Agricole Group) and Bpifrance. This support demonstrates that the project has found significant traction not only technologically but also within the financial system. If ST Group's IPO is successfully completed, this model could become a new standard across Europe. A lower-cost, faster, and more accessible IPO process could facilitate access to financing, especially for companies in the growth phase. At the same time, it could open the door to a more transparent and traceable market structure for investors.
