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YZi Labs announced on December 3rd that the 17 startups accepted into the EASY Residency Season 2 program. These teams, working in Web3, artificial intelligence, and biotechnology, will present their projects to investors at the Demo Day stage held as part of Binance Blockchain Week. The list covers a wide range of technologies, from financial infrastructure and robotic automation to gene therapies and crypto liquidity. A Flood of Investment in the Binance EcosystemThis season of the program clearly highlights what YZi Labs identifies as the three key drivers of the next decade: blockchain transforming global capital flows; AI-enhanced productivity and decision-making; and biotechnology's potential to create longer and healthier lives. The 17 selected startups are developing scalable technologies that align with these three drivers.Some of the projects on the list place a strong emphasis on Web3 infrastructure. 42.space is creating a new asset class for prediction markets by tokenizing real-world events. Sats Terminal focuses on Bitcoin-based liquidity and credit solutions, while Saturn Labs is developing a stablecoin offering real returns backed by the Bitcoin lending market. Predict.fun, meanwhile, is leveraging prediction markets with DeFi liquidity, offering a new model where users can both earn returns and participate in events. Hertzflow is attracting attention with its permissionless leverage infrastructure, aiming to bring the large user base of traditional derivatives markets onto the chain. Help.fun is designing fair, bot-proof token launches for civil society organizations.Startups in artificial intelligence and robotics are also prominent. 4D Labs is developing a scalable 3D data infrastructure to feed spatial intelligence models. AgriDynamics is addressing the labor crisis in the agricultural sector with autonomous fruit-picking robots that reduce harvesting costs. Trellis Robotics is opening a new chapter in industrial automation with its soft robotics platform capable of inspecting narrow and risky industrial spaces. Manifolds offers new visual production tools for both e-commerce and AI applications with its controllable 3D location-based video production.On the biotechnology side, Advent is reducing the timeframe for gene therapy from weeks to days with its AI-driven platform that accelerates AAV discovery. Neomera BioLab is developing a biology-focused drug discovery infrastructure with rapid testing cycles for chronic pain treatments without the risk of addiction.Gaming and social layer startups are also on the list. Bento.fun is building a social layer that transforms everyday conversations into micro-prediction games, while MeleeMon offers a competitive mobile gaming experience backed by stablecoins. Frontrun is positioned as a fast-discovery, transaction-focused wallet for professional traders. FingerDance provides accessibility to deaf communities with its AI infrastructure that provides sign language translation.YZi Labs is a global fund that manages over $10 billion in assets and has invested in over 300 projects from over 25 countries. EASY Residency, one of the company's most powerful support programs, brings together selected teams under the same roof each season.

Amundi, Europe's largest asset manager, has taken a major step forward, bringing together traditional finance and blockchain infrastructure, by launching the first tokenized share class of its money market fund on Ethereum. The giant, which manages approximately $2.3 trillion in assets, aims to both digitize fund distribution and expand investor access with this move.The company announced that the new share class, "J28 EUR DLT," for its Amundi Funds Cash EUR money market fund is now registered on Ethereum. This structure allows ownership, movements, and transaction history of fund units to be tracked on-chain, providing investors with a more transparent and faster transaction experience.CACEIS, one of Europe's leading custody and transfer agencies, is providing the technical infrastructure for this transformation. The institution is developing digital wallets for the fund, a 24/7 blockchain-based ordering platform, and automation systems for subscription and redemption transactions. CACEIS CEO Jean-Pierre Michalowski states that their goal is to “enable 24/7 access to investment funds through stablecoins or future central bank digital currencies.”On the Amundi side, this step is seen as a concrete part of the company's long-term digital asset strategy. Jean-Jacques Barberis, Head of Institutional Clients and ESG, emphasizes that asset tokenization will accelerate globally, and that Amundi will be preparing for new initiatives in this area both in France and international markets.The new model does not completely change the traditional distribution network; investors can continue to receive funds through existing banking channels. The tokenized share class on Ethereum has been added as an additional option, creating broader access for both institutional investors and professionals in the digital asset ecosystem.Tokenization Draws AttentionWhen it comes to why tokenization is so popular, the numbers speak for themselves. By 2025, the total market value of real-world assets on-chain increased from $15 billion to over $37 billion. While Provenance Blockchain holds the lead in this space, Ethereum is a strong second with $12.4 billion in tokenized RWA. Furthermore, the growth of giants like BlackRock's BUIDL fund and Franklin Templeton's money market fund on Ethereum places the network at the center of institutional tokenization.Amundi's move demonstrates that this trend is only just beginning. Europe's largest asset manager's choice of Ethereum both strengthens the legitimacy of tokenization in the continent's regulation-driven financial world and solidifies Ethereum's leadership in the RWA segment.Ultimately, this initiative lays the foundation for an infrastructure accessible 24/7, enabling automated transactions in the fund world.

The International Monetary Fund (IMF) examined tokenization, a rising trend in global finance, in a new explainer video published today on its X account. While acknowledging that tokenization brings speed and cost advantages to financial markets, the institution also emphasized that this transformation creates new vulnerabilities.The video describes tokenization as "the next step in the evolution of money." This structure, which replaces intermediaries who handle transactions, clearing, and recording in traditional markets with smart contracts, enables faster, more transparent, and cheaper asset buying and selling. According to the IMF, early research demonstrates significant cost advantages and increased efficiency in collateral use in tokenized markets. Near-instant settlement (T+0) is one of the most striking innovations. However, the IMF emphasizes that this efficiency also magnifies risks. Recalling the previous occurrence of "flash crashes," also known as sudden collapses in automated markets, the IMF states that code-based transactions conducted in tokenized markets can create a domino effect, especially during periods of stress. A smart contract error or an unexpected chain reaction could turn a local problem into a systemic shock.Another warning highlighted in the video is the risk of fragmentation. If numerous tokenization platforms emerge and become unable to communicate with each other, liquidity could disperse, thus undermining the promise of creating a faster and more efficient market. The IMF states that infrastructure compatibility is therefore critical.The IMF also emphasizes that governments have not historically been passive in the transformation of monetary systems, and states that states are likely to take a more active role in the future of tokenization. Historical examples such as the Bretton Woods agreement, the establishment of fixed exchange rate regimes, and the subsequent collapse of the gold standard demonstrate that states directly intervene in the functioning of monetary systems. According to the IMF, the tokenization process will likely not proceed independently of this tradition.The IMF's interest in tokenization is not new. The IMF has been conducting extensive research in this area in recent years. However, the fact that these studies are now being transferred to a publicly accessible video format demonstrates that tokenization is no longer a niche technology in the global economy and has become a mainstream policy topic.Significant growth in tokenizationToday, the tokenized market has surpassed billions of dollars. The rapid expansion of BlackRock's BUIDL fund over 2024 and 2025, transforming it into the world's largest tokenized Treasury fund, exemplifies the rapid maturation of the sector.At the end of the video, the IMF acknowledges the potential of tokenization to make financial markets faster, cheaper, and more programmable, while stating that this transformation will occur under strict regulatory oversight. According to the institution, the new market structure is moving towards a future that is open to government intervention, while also leveraging the opportunities offered by technology.

Ark Invest continues to pursue an aggressive buy strategy despite sharp volatility in the crypto and technology markets. The fund, led by Cathie Wood, released a comprehensive portfolio update on November 25th, including shares of both crypto-focused companies and major tech giants. The moves coincided with Bitcoin trading sideways around $87,000 and the market under pressure.Circle and Bullish stand outAmong Ark's recent moves, Circle and Bullish stand out. The fund purchased $7.6 million worth of Circle (CRCL) and $1.5 million worth of Bullish (BLSH) shares on Tuesday. Both stocks closed lower, with Bullish losing 2.41 percent to $40.50 and Circle losing 3.62 percent to $70.11. Despite this, Ark viewed the price drop as a buying opportunity. The fund's total Bullish holdings now stand at $151.8 million. Coinbase remains the largest crypto asset in Ark's overall portfolio, accounting for 4%; Circle is second with a 2% weighting.Cathie Wood made even bigger moves on the technology side on the same trading day. Ark Invest purchased 174,293 shares of Google's parent company, Alphabet. The total value of these purchases was estimated at approximately $56.4 million. Alphabet's share price had recently been on an upward trend due to Meta's potential shift away from Nvidia GPUs and towards Google's TPU chips, as well as interest in its Gemini AI model. While the company's approaching $4 trillion valuation bolstered the market's overall AI excitement, the pullback in related ETFs further highlighted Ark's selective buying.Meta, along with tech giants, was also on Ark's radar. The fund acquired 33,837 Meta shares, adding to a position of approximately $21.5 million. Meta shares rose 3.78% on the same day. However, news that the company might shift its focus to Google's AI hardware instead of Nvidia's created significant volatility in the chip sector on the trading day. AMD shares fell by over 4 percent, while Ark sold 106,651 AMD shares, closing a position worth approximately $22 million.In contrast, the fund added 396,198 shares of CoreWeave, whose dependence on the Nvidia ecosystem has been a matter of debate, adding approximately $28.2 million to its portfolio, a new technology investment. Although CoreWeave shares fell by more than 3 percent that day, Ark viewed this as a long-term growth opportunity.On the crypto side, Ark focused not only on Circle but also on Bitcoin. The fund purchased 96,200 shares of the ARK 21Shares Bitcoin ETF, totaling approximately $2.8 million. Bitcoin's 23 percent decline in the last 30 days highlighted this move as a continuation of its "bottom-buying" strategy. Ark also expanded its fintech investments by adding 212,538 shares of Jack Dorsey's Block. Meanwhile, positions in Palantir, GitLab, and Exact Sciences were gradually reduced. The sale of Palantir, which totaled approximately $58 million, was noteworthy.The overall picture suggests that Ark Invest actively capitalized on market declines as buying opportunities.

Coinbase Ventures, the venture arm of America's largest crypto exchange, has shared nine key ideas it aims to invest in in 2026. The investment framework covers a broad spectrum, from RWA-based synthetic products to next-generation DeFi models, prediction market terminals to AI-powered development tools. The team believes these nine ideas could host the "next big breakouts."RWA PerpetualsAccording to Coinbase Ventures, RWA perps will become much more visible in 2026. This structure provides access to offchain assets through synthetic perpetual contracts. Many metrics, such as oil, indices, private company stock, or economic data, can be ported to the chain in this way. The blog post describes this area as "perpification of everything."New exchange design focused on protecting liquidity providersProp-AMM models, emerging within the Solana ecosystem, offer a new market architecture that prevents professional traders and bots from exploiting LPs. Coinbase Ventures believes this structure won't be limited to Solana; it could also open the door to more equitable exchanges across different chains.Prediction Market AggregatorPrediction markets have grown, but liquidity remains fragmented. Coinbase Ventures predicts that prediction market terminals, which will aggregate over $600 million in distributed liquidity into a single interface, will become prominent in 2026. The ability to view real-time rates from platforms like Kalshi, Polymarket, and others on a single screen will propel the industry forward."Perpetual" and Lending IntegrationThe combination of perpetual exchanges with lending protocols allows investors to double-use their collateral. It's possible to both maintain a position and earn returns. Coinbase Ventures predicts this model will reach a broader user base in 2026.Uncollateralized Onchain LendingThe combination of onchain identity and offchain data enables uncollateralized lending. The US has $1.3 trillion in uncollateralized lending volume. Coinbase Ventures argues that this market can be migrated to crypto with greater efficiency. This is seen as a significant step in DeFi's transformation into a "banking alternative."Onchain Privacy SolutionsInstitutional traders are uncomfortable with having their strategies fully visible on-chain. Therefore, private orderbooks, confidential debit-credit mechanisms, and ZK-based privacy layers will be critical areas in 2026. Coinbase Ventures believes that "without privacy, there will be no widespread adoption."Robotics + DePIN: Incentivized Models for Robotic Data CollectionPhysical interaction data for AI systems is still limited. Coinbase Ventures states that DePIN-style incentive mechanisms can scale robotic data collection. Data such as grasping, pressure, and multi-object manipulation are critical for more advanced robot models.Proof of HumanityIt is increasingly unclear whether digital content is human or AI. Coinbase Ventures believes that identity solutions that combine biometrics, cryptographic signatures, and open standards will become a major challenge in 2026. This area will provide a crucial security layer for social media, content creation, and financial transactions.On-chain Development with AI AgentsThe latest idea is for AI agents to democratize smart contract development. With AI agents handling tasks such as code generation, security scanning, and continuous monitoring, even non-technical founders will be able to launch on-chain projects within hours. Coinbase Ventures sees 2026 as a "breakout year" in this field.

The GANA Payment project lost more than $3.1 million in an attack that occurred Thursday morning. Researcher ZachXBT, known for his on-chain analysis, explained that the attacker first accumulated the funds on the BNB Smart Chain and then began hiding them on both BSC and Ethereum using Tornado Cash.How did the hacker act?The attacker first accumulated the seized assets at the BSC address "0x2e8...e5c38." A significant portion of the funds were then converted to BNB. 1,140 BNB, worth approximately $1.04 million, was then transferred to Tornado Cash. This was the attacker's initial attempt to cover their tracks.According to ZachXBT, the remaining assets were then transferred to Ethereum. This time, the exploiter deposited 346.8 ETH into Tornado Cash, equivalent to approximately $1.05 million. In addition, another 346 ETH, worth around $1.046 million, is reportedly sitting idle at the Ethereum address "0x7a5...b3cca." It's believed the attacker hasn't yet mixed these funds and is likely holding them for a second round.GANA price plummetsGANA Payment is a small-scale payment token project operating on the BNB Smart Chain. Built around the BEP-20 standard GANA token, the project primarily trades through DEXs and liquidity pools. There is no comprehensive technical documentation, code review report, or audit trail for the project. Therefore, the vulnerability responsible for the attack remains unclear.This security uncertainty has had a significant impact on prices. According to GeckoTerminal data, the GANA token lost more than 90% of its value in a matter of hours. The depletion of liquidity pools and panicked investor sales have driven the price to near zero. This attack adds to the series of security incidents that have occurred on the BNB Chain this year. According to DefiLlama's hack tracking, total losses on medium-sized BSC projects alone exceeded $100 million during 2025. Most attacks share common themes: unverified contracts, weak access controls, malicious manipulation of liquidity pools, and sometimes intra-team key leaks.For example, the recent Future Protocol incident followed a similar pattern. Attackers first identified the void, then quickly drained the pools, distributed the funds across multiple addresses, and finally mixed them with Tornado Cash. The GANA Payment incident follows the same pattern: rapid draining, consolidation, interchain bridging, and sending to the mixer.Despite the widespread use of BNB Chain, the proliferation of vulnerabilities at this scale highlights the lack of oversight in smaller projects. Experts say that the rapid launch of low-budget projects, particularly those driven by the "minimum viable" mentality, creates significant opportunities for malicious actors.

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 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.

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 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.

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.

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.

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 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.

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.
