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Visa Launches Crypto-Focused Pilot Project
Visa has launched a new pilot program that allows businesses to pay directly with stablecoins. The program, specifically designed for content creators, freelancers, and gig economy workers, aims to accelerate cross-border payments. Under the pilot, businesses in the US can initiate payments with fiat currency through Visa Direct, while recipients have the option to receive payments in USDC.Visa launches cryptocurrency-focused projectVisa describes this system as "accessible money transfers in minutes, accessible to everyone." Chris Newkirk, Head of Commerce and Money Movement Solutions at the company, said, "This project is about making global access to money in minutes, not days. Whether you're a content creator building a digital brand, a business expanding into new markets, or a freelancer working across borders, everyone will benefit from faster, more flexible money movement."The new pilot is a continuation of Visa's previous work on stablecoin payments. In September, the company launched a test that allowed businesses to pre-fund Visa Direct payments not only with fiat currency but also with stablecoins. This new phase allows users to receive payments directly in stablecoins. This takes Visa's transformation from fiat to digital dollars a step further.The pilot program was initially launched only with select partners. Visa states that it will be available to a wider user base in the second half of 2026. Currently, only USDC is supported, but plans are in place to add other stablecoins to the system in the future. Recipients must have a compatible stablecoin wallet and undergo KYC/AML verification.Visa's move is a significant development that strengthens the role of crypto assets in the payments world. Since 2020, the company has reached over $140 billion in crypto and stablecoin transactions. Last year alone, stablecoin spending with Visa cards quadrupled. The company's CEO, Ryan McInerney, announced that more than 130 stablecoin-linked card programs are in operation in more than 40 countries, and that monthly spending using stablecoins has surpassed $2.5 billion annually.Visa isn't limiting its stablecoin strategy to individual payments. In recent months, it partnered with Stripe subsidiary Bridge to allow developers to create stablecoin-linked Visa cards. It also tested the use of stablecoins in treasury and liquidity management with Yellow Card, which operates in Africa. It also launched the Visa Tokenized Asset Platform, which allows banks to print and burn their own stablecoins in a pilot environment.The company aims to expand stablecoin-based solutions, particularly in emerging markets and cross-border money transfers. It's believed this system could significantly simplify matters in regions experiencing currency restrictions, banking access issues, or currency volatility. However, the program has some initial restrictions. Currently, participation is limited to US-based businesses, and only USDC is supported. Clarifying regulations and completing licensing processes on a global scale will be critical for the expansion of the system.
JPMorgan Announces: JPM Coin Era Has Begun in Payments
JPMorgan has taken a significant step in the cryptoasset ecosystem, launching JPM Coin (JPMD), a deposit token developed for corporate clients, on the Base blockchain. With this step, the bank is ushering in a new era combining traditional finance and blockchain technology.JPMorgan Launches JPM CoinJPM Coin is a "deposit token" representing US dollar deposits. In other words, each JPMD represents an actual bank deposit at JPMorgan. Unlike reserve-backed stablecoins, it integrates directly into the banking infrastructure. Corporate clients can now make near-instant transfers 24/7 using this token. This offers a significant speed and efficiency advantage compared to the limited business hours of traditional banking.Following the completion of a pilot program launched in June, JPMorgan's digital payments unit, Kinexys, launched JPMD on Base. Developed by Coinbase, Base is known as Ethereum's Layer-2 solution. This step is also noteworthy as it marks the first time a major bank has offered a corporate payment solution on a public blockchain. According to information shared by the bank, major financial institutions such as B2C2, Coinbase, and Mastercard have successfully completed test transactions.Naveen Mallela, global co-president of Kinexys, summarized JPMorgan's strategy by saying, "We are advancing transactions on public blockchains. Our starting point was Coinbase's Base network." Mallela also confirmed that JPM Coin will be expanded to include various currencies in the future. The bank has registered a trademark for a euro-denominated version called "JPME." This is being interpreted as a precursor to the transition to multi-currency support for digital deposit tokens.Deposit tokens appear to be the next vehicle for digital transformation in the banking system. Each token is backed one-to-one by the deposit held at the bank, providing the user with a secure, transparent, interest-bearing digital asset. This allows both companies and financial institutions to complete high-volume transactions or international payments in seconds and at low cost. Coinbase is also reportedly accepting JPM Coin as collateral, which could expand the token's use in crypto markets.With this initiative, JPMorgan offers a regulatory-compliant, enterprise-grade model for blockchain-based payments. The bank's digital payment network, Kinexys, currently handles over $3 billion a day in dollar, euro, and sterling transactions. JPMorgan's inclusion in this framework will increase both liquidity and network functionality.JPMorgan's move signals a new era in global banking. Other major banks, including BNY Mellon, HSBC, and Barclays, are also working on similar tokenized deposit solutions.
Mastercard, Ripple, and Gemini Partner for Stablecoin: XRP Rises
Global payments giant Mastercard will partner with Ripple and Gemini to test the implementation of traditional card payments on a public blockchain using a regulated stablecoin. According to the companies, this initiative will be one of the first times a US-regulated bank has reconciled card transactions using a stablecoin.As part of the project, Mastercard and Gemini's RLUSD stablecoin will be used on the XRP Ledger (XRPL) network. XRPL is an open-source blockchain network developed by Ripple and is known for its low-cost payment processing in seconds. Using RLUSD aims to both transparently record transactions on-chain and offer cost and speed advantages over traditional payment infrastructure."With the Gemini Credit Card, we are taking the integration of digital assets into everyday spending a step further," said Gemini Chief Financial Officer Dan Chen, emphasizing that the project aims to bridge the gap between the financial system and crypto assets. Gemini's XRP-themed credit card, launched in partnership with WebBank, allows users to earn rewards with XRP. WebBank will also be a key component of the stablecoin settlement process, which will be conducted via RLUSD.This initiative demonstrates Mastercard's continued expansion into the digital asset space. Last June, the company partnered with Chainlink to allow users to purchase crypto assets directly on-chain with fiat currency. Mastercard is also leading the migration of financial services such as identity verification and access to credit to the Web3 ecosystem by partnering with initiatives like Humanity Protocol in the digital identity and open finance space.On the Ripple side, ecosystem expansion efforts are ongoing. The company recently announced the acquisition of Palisade, a provider of enterprise wallet and custody technologies. This acquisition aims to strengthen Ripple's payment and custody solutions for corporate customers. Palisade's multi-blockchain support and multi-party computation (MPC) technologies will be integrated into Ripple's existing services.XRP price on the riseFollowing this news, the XRP price rose 4.9 percent to $2.35, breaking above the critical $2.30 resistance. Analysts note that the Mastercard and Gemini partnership adds a new trust factor to the Ripple ecosystem and expands the enterprise use cases of the XRP Ledger.
UBS and Chainlink Complete First Tokenized Fund Transaction
UBS has taken a significant step in the digitization of investment funds. The bank completed its first on-chain fund redemption using Chainlink's Digital Transfer Agent (DTA) infrastructure. This transaction enabled the integration of the $100 trillion global funds industry with blockchain technology.Chainlink was used in UBS's transactionThe transaction was conducted using the "UBS USD Money Market Investment Fund Token (uMINT)," tokenized on Ethereum. This move by UBS was one of the first practical examples of how blockchain technology can be integrated with traditional finance. DigiFT, acting as the on-chain distributor, completed the redemption process using Chainlink's DTA standard. The transaction, initiated from UBS's own systems, was automatically executed thanks to the Chainlink infrastructure.Mike Dargan, UBS Group Technology Manager, stated that this development highlights the importance of smart contract-based infrastructures in the funds industry, saying, "This transaction is a milestone that enhances the investor experience and streamlines operational processes." Dargan emphasized that tokenization will increase efficiency in the financial sector and open up new possibilities for product design.UBS's platform, dubbed "Tokenize," aims to bridge the gap between digital assets and traditional financial systems. By automating critical functions such as order taking, execution, and reconciliation, the platform aims to reduce both operational complexity and processing time. This automation is expected to yield significant efficiencies, particularly in high-volume transactions such as money market funds.This development complements UBS's recent pilot project with Chainlink and SWIFT. In that project, banks' existing systems were connected to the blockchain infrastructure using Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Runtime Environment technologies. This connection enabled fund transactions to be processed on-chain using the ISO 20022 message format.Given the size of the funds sector, the impact of this integration could be significant. The global funds industry, with a market capitalization exceeding $100 trillion, has long faced efficiency challenges due to bureaucracy and delays in transaction processing. This move by UBS demonstrates that tokenization can transform not only investment products but also back-end operations. Such on-chain transactions could pave the way for future innovations such as instant fund redemption, simplifying cross-border payments, and allowing investors to monitor their assets 24/7.
Deutsche Bank-Backed EURAU to Use Chainlink Infrastructure
AllUnity, a joint project between Deutsche Bank and DWS, is opening a new chapter in Europe's digital finance landscape. EURAU, the company's euro-backed stablecoin, is now multi-blockchain supported using the Cross-Chain Interoperability Protocol (CCIP) infrastructure developed by Chainlink. This allows EURAU to operate on Ethereum, Arbitrum, Base, Optimism, Polygon, and Solana networks, and will also integrate with the corporate finance-focused Canton Network in the future.EURAU will use Chainlink infrastructureAllUnity's euro-backed stablecoin, EURAU, is taking a significant step into Europe's digital finance scene. Developed as a joint venture between Deutsche Bank and asset management giant DWS, the project is migrating to multi-blockchain supported using Chainlink's Cross-Chain Interoperability Protocol (CCIP) infrastructure. This integration will enable EURAU to operate on Ethereum, Arbitrum, Base, Optimism, Polygon, and Solana networks. The company also plans to expand to the Canton Network, which focuses on corporate finance applications. AllUnity CEO Alexander Höptner stated that this step will enable EURAU to “operate seamlessly across different blockchains,” significantly expanding its usability and reach. Fernando Vazquez, head of banking and capital markets at Chainlink Labs, described the integration as “a fundamental step that accelerates the transition to a new era of tokenization in Europe.”EURAU is based on MiCA compliance and full reserve assurance. Licensed under MiCA, the European Union’s comprehensive framework for regulating crypto assets, the stablecoin targets institutional clients rather than individual investors. This allows EURAU to be used in B2B payments, treasury management, and on-chain settlement processes. With the license it received from the German financial supervisory authority BaFin in July, the project became one of the first officially regulated euro stablecoins in Europe.Chainlink’s CCIP technology enables the secure transfer of data, tokens, and messages between different networks. In this system, Chainlink acts as a bridge between blockchains, enabling smart contracts to communicate with each other. AllUnity's choice of this infrastructure sets a significant precedent for enabling European financial institutions to securely participate in the tokenization process.The two major institutions behind AllUnity lend significant weight to the project. As of March 2025, DWS managed over €1 trillion in assets, while Deutsche Bank's balance sheet exceeded $1.6 trillion.Eurau's transition to multi-network support could fill a long-needed gap in Europe's cryptofinance ecosystem. A euro stablecoin that is both regulatory-compliant and cross-chain interoperable is poised to play a central role in Europe's tokenization vision.At the time of writing, the LINK price appears largely unaffected by these developments. The coin is up 2% at $17.25.
JPMorgan Chase Takes First Step in Fund Tokenization
The boundaries of digital finance are being redrawn; Wall Street giant JPMorgan Chase has tokenized a private investment fund on its own blockchain network, a first for the investment world.JPMorgan Chase Takes Critical Blockchain StepAccording to a report in the Wall Street Journal on October 30th, JPMorgan Chase has tokenized a private investment fund on its own blockchain. By making this digitized fund available to high-net-worth private banking clients, the bank has taken the first concrete step toward the full-scale implementation of its fund tokenization platform.With this move, JPMorgan Chase aims to facilitate investor access to alternative assets. Private equity funds, traditionally accessible only to a limited number of investors, will now be able to trade more transparently, quickly, and efficiently through digital tokens. This will both reduce liquidity issues and streamline the investment process to keep pace with modern finance.With this pilot, the bank plans to launch a fully comprehensive platform dedicated to the tokenization of alternative investment funds by 2026. This proprietary blockchain infrastructure developed by JPMorgan provides a foundation that can be used not only for fund tokenization but also for the future digitization of various asset classes such as real estate, debt instruments, and artwork.Fund tokenization is a transformational area that has become increasingly prominent in the global financial world in recent years. This system, which represents traditional investment products with blockchain technology, divides asset ownership into smaller units, providing access to more investors. Furthermore, on-chain transactions simplify auditing processes and reduce the need for intermediaries.The bank's own blockchain system operates through the "Onyx Digital Assets" platform. This system has previously been used for repo transactions and the digitization of short-term bonds. Now, with the tokenization of private funds, Onyx's application area is expanding. JPMorgan executives state that this technology could democratize private capital markets in the long term, streamline investment processes, and provide clients with greater flexibility.
Mastercard Joins the Crypto Race: $2 Billion Deal on the Way
Payment giant Mastercard is focusing on cryptocurrency infrastructure. According to Fortune, the company is currently in talks to acquire Chicago-based infrastructure startup Zero Hash for approximately $1.5 billion to $2 billion. This move signals a significant strategic shift away from traditional payment systems and towards crypto and stablecoin infrastructure.Mastercard to invest in Zero HashZero Hash was founded in 2017. It provides banks, fintechs, and brokers with the technological and regulatory tools to implement compliant crypto trading, stablecoin, and tokenization projects. The company's $104 million Series D financing round last September brought its valuation to over $1 billion.This move by Mastercard is being interpreted as an indication of its intention to directly dominate the crypto and stablecoin infrastructure in the payments sector. Traditionally working with payment cards, shopping networks, and financial institutions, the company is now focusing on next-generation blockchain-based payment solutions.The API-based infrastructures offered by Zero Hash include: It enables banks and fintechs to integrate crypto trading, tokenization, and stablecoin transfers into their own services. The company announced that it supported over $2 billion in tokenized fund movements on its platform in the first four months of the year.If this acquisition goes through, Mastercard will be one of the few companies with direct control over the payment ecosystem involving stablecoins and tokenized assets. This demonstrates that the company is not limited to card-based consumer payments but is also moving towards a presence at the infrastructure layer.This move is significant for the payments industry. Card companies are seeking faster, cheaper solutions for cross-border payments, treasury transactions, and remittance systems. Stablecoin and tokenization technologies have the potential to meet this demand. Mastercard's investment in this area indicates that digital assets are no longer a transitional phase in payment systems.However, the path to such integration is not entirely clear from a regulatory perspective. Crypto regulations in the US and Europe are still evolving, and stablecoins, tokenization, and asset token solutions are under strict scrutiny. As Mastercard incorporates this infrastructure, how effectively it manages its compliance processes and risk management will be closely monitored.
Coinbase Makes $375 Million Surprise Move
Coinbase has signed its eighth major deal this year, acquiring Echo, a platform operating in the on-chain investment space, for $375 million. According to the Wall Street Journal, the deal was financed through both cash and stock.Coinbase Acquires EchoEcho founder Jordan Fish, known in the crypto community by his nickname "Cobie," confirmed the deal on the X platform. "Frankly, I never thought Echo would be acquired by Coinbase, but here we are. Today, Coinbase has acquired Echo for approximately $375 million," he said. Fish also stated that Echo will continue to operate independently under its existing branding for now, but the platform's public token sale product, Sonar, will be integrated into Coinbase.Since its inception, Echo has offered an innovative platform that allows projects to raise funds directly from their communities. The company's Sonar product allows startups to raise capital through either private or public token sales. To date, the platform has raised over $200 million in funding across approximately 300 deals. In this respect, Echo is an on-chain capital formation hub that offers new opportunities to both early-stage crypto startups and investors.Coinbase stated in a statement that the Echo acquisition brings the company one step closer to a "fully integrated crypto funding solution." The company's goal is to provide both startups with easier access to capital and to facilitate investor participation in early-stage projects. Coinbase executives emphasized that this infrastructure will not be limited to crypto projects in the long term; it will also include security tokens and real-world assets.This deal marks Coinbase's largest acquisition of 2025. The company previously acquired the token management platform LiquiFi and the rights to the crypto-focused content project UpOnly for approximately $25 million.Coinbase shares closed at $343.78, a 2.31 percent increase on the day the deal was announced, bringing the company's market capitalization to $88.3 billion. Coinbase, which has gained 38 percent in value since the beginning of the year, can be said to be building an ecosystem that will make it easier for both institutional and individual investors to access crypto with these acquisitions.
TD Cowen's Major Crypto Prediction: Could Reach $100 Trillion
US-based investment bank TD Cowen predicts that on-chain assets could reach $100 trillion within the next five years. The bank stated that tokenization, the representation of traditional financial assets on blockchain, will spread rapidly and that major financial institutions are beginning to agree on common standards.Critical Report from TD CowenAccording to the bank's report, on-chain capital has reached $4.6 trillion since 2020. However, with political and regulatory developments progressing faster than expected, this figure is expected to surpass $100 trillion by 2030. In a note after returning from the Digital Asset Summit in London, TD Cowen analysts emphasized that the appeal of tokenization stems from its tangible benefits: lower costs for cross-border transfers, faster settlement, and programmable finance that can be directly integrated with capital markets.The report is based on interviews with executives from institutions such as JPMorgan, Bank of America, Euroclear, and Tradeweb. Analysts have noted that staked assets, particularly on Ethereum, play a significant role in on-chain capital formation as a return engine.Tokenization refers to the representation of traditional assets such as bank deposits, money market funds, government bonds, stocks, or real estate on the blockchain. This allows these assets to be traded 24/7, reconciled in seconds, and compatible with smart contracts.TD Cowen says that activity in this area is no longer limited to demonstrations but is manifesting directly in pilot projects. BNY Mellon is working on tokenized deposits to modernize payments. BlackRock is evaluating plans to tokenize its real-world asset (RWA) funds on the blockchain.Policy trends are also favoring tokenization. The UK is preparing to appoint a "digital markets champion" to coordinate tokenization processes in wholesale markets. Major banks in the US and Europe are working to develop a joint stablecoin product. Such an initiative could create an on-chain "cash pillar" that would work alongside banks' deposit tokens. Investor interest is also growing. According to a State Street survey, most institutional investors plan to double their digital asset positions over the next three years. More than half of respondents expect 10 to 24 percent of their portfolios to be tokenized by 2030. Robinhood's CEO similarly predicts that most major financial markets will have a tokenization framework by 2030."While the road remains bumpy, political and regulatory progress has been much faster than we anticipated two years ago," TD Cowen analysts said. "We believe on-chain capital formation could reach $100 trillion or more in the next five years; this trend is too large to ignore."The bank says that once major institutions agree on common protocols, tokenization will move from the pilot phase to mass adoption.
S&P Global and Chainlink Partner for Stablecoin Scores
Financial data giant S&P Global is partnering with oracle network Chainlink to bring stablecoin risk assessments onto the chain. This will give decentralized finance (DeFi) protocols direct and real-time access to S&P's independent "Stablecoin Stability Assessment" (SSA) analyses.Stablecoin data moves onto the chainS&P Global Ratings' SSA model scores stablecoins based on their ability to maintain their stable value against fiat currencies. These assessments are not credit scores but are based on criteria such as asset quality, liquidity, governance structure, repayability, technological infrastructure, and regulatory compliance.S&P launched this system in December 2023, assessing eight major stablecoins. As of today, the company tracks ten different stablecoins, including USDT, USDC, and Sky Protocol's USDS/DAI token. With the new integration, these assessments can now be used directly on the blockchain. The integration, provided through Chainlink's institutional data publishing infrastructure, DataLink, enables DeFi platforms and smart contracts to access S&P's risk analysis without manual intervention. This allows credit protocols, yield platforms, or investors to integrate this data directly into their smart contracts and automate risk management processes.Chuck Mounts, head of S&P Global's DeFi unit, described the partnership as "meeting our customers where they are.""By moving our stablecoin assessments on-chain via Chainlink's trusted oracle infrastructure, we enable market participants to seamlessly access S&P analysis on DeFi systems. This step strengthens both transparency and informed decision-making."Chainlink co-founder Sergey Nazarov described S&P Global Ratings' move as "a new milestone for institutional adoption.""S&P is one of the world's most trusted rating agencies. This partnership provides a critical framework for large institutions to use stablecoins more securely and compliantly." The Onchain SSA service will initially launch on the Ethereum Layer-2 network Base, supported by Coinbase. It is planned to expand to other networks based on demand.S&P Global has recently rapidly increased its digital asset footprint. Last week, the company introduced a new on-chain index combining 15 cryptocurrencies and 35 crypto-focused stocks. In August, it further solidified its risk assessments for DeFi projects by giving Sky Protocol a "B-" rating.On the Chainlink side, the sheer size of the system is striking. To date, the Oracle network has facilitated data transfer in more than $25 trillion in on-chain transactions and secured approximately $100 billion in total locked DeFi value.LINK price is decliningMeanwhile, the LINK price is trending downward. The coin has lost nearly 20% of its value over a seven-day period, partly due to the loss of momentum in Bitcoin and other altcoins over the weekend. At the time of writing, it is trading at $18.36.
Crypto Era on Wall Street: Statements from Citi and JPMorgan
While Wall Street's two major banks pursue different strategies regarding crypto assets, they are sending positive messages about the future of digital finance. Citigroup plans to launch a crypto custody service by 2026, while JPMorgan Chase is currently holding off on the custody side but is ready to move into crypto trading and blockchain-based payment solutions.Citi is preparing to offer a crypto custody serviceBiswarup Chatterjee, head of partnerships and innovation in Citi's global services unit, told CNBC that the bank has been developing its crypto custody infrastructure for the past two to three years. "We are in a comprehensive exploration process across different areas. We expect to launch a reliable custody solution that we can offer to our asset managers and institutional clients in the next few quarters," he said.Citigroup's plan aims to facilitate secure access to crypto markets for traditional finance. The bank focuses specifically on the regulatory compliance of digital assets and providing professional-grade security to institutional investors. JPMorgan Remains on the Trading SideJPMorgan, on the other hand, is pursuing a more cautious but also more flexible approach to its crypto asset strategy. Scott Lucas, head of the bank's global markets and digital assets unit, said on CNBC's Squawk Box Europe, "Jamie Dimon has been very clear about this; we will be involved in the trading side, but custody is not on the table right now."Lucas stated that JPMorgan is interested in crypto trading and is in the process of establishing infrastructure in this area. While the bank plans to engage in digital asset trading, it is considering providing custody services through external partners. Lucas also touched on what JPMorgan calls the "and" approach: "For us, it's not just about choosing one. We aim to develop new solutions while evaluating opportunities in the current market."The bank is also working on blockchain-based payment systems and stablecoin-like digital assets. JPMorgan's deposit token, called "JPMD," launched as a pilot on the Base network in June, aims to facilitate blockchain-based transactions for institutional clients. Lucas said, “We are very excited about this area. JPMD has great potential to offer new services to our clients with its stablecoin-like features.”The statements from both institutions indicate a significant shift in the way major banks view crypto. While Citi is preparing for direct custody, JPMorgan is focusing on trading, payments, and tokenization.The recent passage of the GENIUS Act in the US also supports this transformation. By regulating the full reserve requirement and auditing obligations of stablecoin companies, it has enabled major banks to enter the cryptocurrency market more safely.
YZi Labs Announces $1 Billion Massive Fund for BNB Ecosystem
YZi Labs has launched a massive $1 billion fund to support startups in the BNB Chain ecosystem. The company aims to strengthen BNB's growth potential by investing in projects focused on Web3, artificial intelligence (AI), DeFi, and biotechnology.YZi Labs launches BNB networkFormerly known as Binance Labs before its rebranding, YZi Labs repositioned itself in the crypto space last year by changing its identity. In a statement, YZi Labs stated that this fund, called the "BNB Builder Fund," will provide support to entrepreneurs working in various fields such as decentralized finance (DeFi), artificial intelligence, real-world assets (RWA), decentralized science (DeSci), and wallet infrastructure. The fund will also operate as part of the YZi Residency program and will include BNB Chain's "Most Valuable Builder (MVB)" accelerator program. Projects selected for the MVB program will receive up to $500,000 in funding and will gain direct access to YZi Labs and BNB Chain's core team. This structure aims to accelerate the financial and technical development of early-stage startups.BNB Chain has recently experienced significant growth in transaction volume and active users. According to Token Terminal data, the network ranked first in daily transactions, DEX volume, and active addresses. As of October, BNB Chain's monthly active addresses reached 57.8 million, surpassing Solana's 38.5 million. The network's daily transaction volume is approaching $4.7 billion, while the total value locked (TVL) on the decentralized exchange Aster, in particular, has increased by 500% to $2.4 billion.YZi Labs's funding initiative aims not only to support developers on BNB Chain but also to increase liquidity and transaction activity on the chain. Historically, such ecosystem funds have been known to lead to strong increases in token prices. For example, in 2021, Near Protocol raised its token price to $18 within two months after establishing an $800 million ecosystem fund. That same year, the Avalanche Foundation announced a $200 million fund, dubbed "Blizzard," and the price of AVAX quickly surged by more than 80 percent.BNB may be entering a similar period. Having gained 11.6 percent in value in the last month, this fund announcement is rumored to be sparking a new rally. The network's transaction density and new developer interest have refocused investors' attention on BNB.YZi Labs President Ella Zhang said, "With this fund, we are supporting the BNB ecosystem in building a future based on human-centric technologies. We want to empower those building the next phase of open systems."
S&P Global Enters Crypto Markets with New Index
S&P Global, the world's leading financial data provider, is deepening its entry into the digital economy with a new index that combines crypto assets and traditional markets under one roof. The company announced its new indicator, the "S&P Digital Markets 50 Index," under the umbrella of S&P Dow Jones Indices (S&P DJI). The index combines both publicly traded crypto-related companies and leading cryptocurrencies in the same basket.The S&P 500 takes a significant step for cryptocurrenciesThe new index was created in partnership with blockchain firm Dinari. Dinari will also issue a "token" that closely tracks this index. This will allow investors to access both crypto assets and traditional stocks related to this ecosystem through a single product.According to S&P Global's statement, the index will include the stocks of 35 companies operating in digital asset operations, developing blockchain infrastructure, and operating in financial services and technology, as well as 15 cryptocurrencies selected from the S&P Cryptocurrency Broad Digital Market Index. Each asset will have a maximum share of 5% of the index. Like other S&P indicators, the index will be rebalanced quarterly.Cameron Drinkwater, Vice President of Product and Operations at S&P Dow Jones Indices, stated in a statement that digital assets are no longer on the fringes of the financial world, but rather at its core. He said:“The cryptocurrency and digital asset industry has become increasingly prominent in global markets. Our new index allows investors to monitor and evaluate this space in a rules-based and transparent manner. Market participants in the Americas, Europe, and Asia are now beginning to consider digital assets as part of their diversification and innovation strategies.”Drinkwater emphasized that independent and reliable indices will play a critical role in the crypto ecosystem, just as they do in traditional financial markets:“This step reinforces S&P DJI’s role as a trusted benchmark provider for traditional and alternative asset classes. We aim to contribute to investors’ search for clarity and confidence as crypto markets mature.” The S&P Digital Markets 50 Index offers a broad and balanced view of crypto markets and will also exemplify the integration of tokenization into financial indicators. Anna Wroblewska, Dinari's Chief Commercial Officer, stated that this project not only tokenizes an index but also redefines financial standards on the blockchain:“For the first time, investors will have access to both US equities and digital assets through a single, transparent product. This launch demonstrates the potential of blockchain technology to make financial standards more accessible and efficient.”S&P Global is one of several major financial institutions currently offering cryptocurrency indices and digital market indicators. The new index will join the company's S&P Cryptocurrency Indices and S&P Digital Market Indices series.
BNY Mellon is Preparing for the Blockchain Payments Era
The Bank of New York Mellon (BNY Mellon), the world's largest custodian bank, is exploring a "tokenized deposit" system that would support instant and cross-border payments using blockchain technology. This move is part of a growing trend in the traditional financial world toward blockchain-based payment infrastructures.Critical blockchain move from BNY MellonAccording to Bloomberg, Carl Slabicki, director of BNY Mellon's Treasury Services Platform, said the bank has begun exploring tokenized deposits and that they are a key component of the bank's plan to "modernize its real-time payments infrastructure." Tokenized deposits are defined as digital tokens issued by banks and collateralized by identical commercial bank currency. Unlike traditional systems, these assets can operate 24/7 on the blockchain, reducing transaction times and enabling cross-border payments to be completed in seconds. BNY Mellon's Treasury Services unit processes approximately $2.5 trillion in payments daily and holds a total of $55.8 trillion in assets under custody or management. Moving such a large volume to blockchain could significantly increase the efficiency of financial transactions. Slabicki stated that tokenized deposits will help "banks overcome legacy technological limitations."This move is the latest in a series of tokenized deposit initiatives that have gained momentum in the global banking sector. In June, JPMorgan launched a US dollar-backed tokenized deposit project called "JPMD" running on the Base network. HSBC announced a multi-currency tokenized deposit service for its corporate clients last month. Global messaging network SWIFT is also working on a blockchain-based shared ledger system for real-time cross-border payments.BNY Mellon's interest in digital asset infrastructure is not new. In July, the bank partnered with Goldman Sachs to tokenize the ownership records of money market funds. This project aimed to accelerate collateral mobility and reconciliation processes. The next step is complementary to this structure: combining tokenized cash flows with tokenized assets on the same network.Although a specific timeline hasn't been shared, Slabicki stated that this technology will initially be deployed within banks' own ecosystems and then expanded to broader markets as industry standards mature.
ICE Invests $2 Billion in Crypto Prediction Platform Polymarket
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced a $2 billion investment in Polymarket, a cryptocurrency-based prediction platform.Polymarket Makes Major InvestmentThe deal, announced by Polymarket on its social media platform X, has brought the company's valuation to $9 billion. Following ICE's investment, the New York Stock Exchange's total market capitalization has surpassed $25 trillion, while the focus of traditional capital markets on crypto-focused products has resurfaced. Polymarket is a prediction market platform where users buy and sell "stocks" based on the outcomes of real-world events. Participants can take positions on a variety of topics, from elections and sporting events to crypto prices and global economic developments. Market prices reflect the community's collective probability predictions. Trades are typically conducted in stablecoins, and results are determined based on verifiable sources. US users have limited access to the platform due to regulatory restrictions.This investment has also accelerated Polymarket's preparations for its return to the US. In recent months, the U.S. Commodity Futures Trading Commission (CFTC) issued a no-action letter to Polymarket, granting it an exemption from certain reporting and recordkeeping obligations. This decision is seen as a significant step toward the company's relaunch.In July, Polymarket began the process of fulfilling regulatory requirements by acquiring the US-licensed derivatives exchange QCEX for $112 million. Subsequently, in late August, it added Donald Trump Jr., son of US President Donald Trump, to its advisory board. Trump Jr. made a multi-million dollar strategic investment in Polymarket through his investment firm, 1789 Capital.ICE CEO Jeffrey Sprecher said in a statement, “The Polymarket team has built a user-centric, innovative platform. We believe we will create significant opportunities together in financial data distribution and market analysis.” Sprecher also stated that under this partnership, ICE will distribute Polymarket's event-based data to global clients.The platform's founder, Shayne Coplan, has faced significant regulatory pressure in recent years. At the end of 2024, the FBI raided his home, and the CFTC issued a cease-and-desist order against Polymarket for unregistered activity. However, by the summer of this year, both the Department of Justice (DOJ) and the CFTC closed their investigations, removing obstacles to the company's return to the US market.However, the US government's shutdown in early October temporarily put Polymarket's official return plans on hold. With the CFTC's operations at a standstill, Polymarket's approval process for new contracts has been temporarily frozen.Polymarket's $9 billion valuation represents a nearly tenfold increase in just a few months. In June 2025, a $200 million investment round led by Peter Thiel's Founders Fund valued the company at $1 billion.
