Ondo drops tokenized asset blockchain plans for private, high-speed trading network

The pivot comes as tokenization gathers momentum across Wall Street. Tokenization — the process of representing traditional assets such as stocks, bonds and funds as blockchain-based tokens — is gaining traction as firms look to modernize capital markets with faster settlement and around-the-clock trading. At the same time, perpetual futures, once largely confined to crypto markets, are expanding to traditional assets such as stocks and commodities like oil and gold.  Beyond issuing tokenized assets  Ondo has emerged as one of the sectors largest issuers, with about $2.6 billion in tokenized U.S. Treasury products across OUSG and USDY and roughly $850 million in tokenized equities, according to rwa.xyz. The firms broker-dealer last week FINRA approval to launch regulated markets and services for tokenized securities.  The new network represents the companys next step in moving beyond issuing tokenized assets to building the infrastructure for trading them.  Ondo Network separates trade execution from settlement instead of processing every trade on a public blockchain. Orders are executed privately for greater speed, while finalized asset transfers settle on public blockchains.  The approach is designed to address a key concern for institutional investors, who want the benefits of blockchain settlement without exposing their trading activity, positions or order flow to competitors.

07-29انڈسٹری

European financial institutions launch RL1 cooperative blockchain network

Ten European financial institutions have launched Regulated Layer One (RL1), a jointly owned blockchain cooperative designed for regulated financial markets and tokenized assets.  On Tuesday, the group announced that RL1 had been established as a European Cooperative Society in Luxembourg and had begun operations with founding members including ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures and Seturion.  RL1 said each member will have equal decision-making rights over the networks governance and development.  The private, permissioned network is based on infrastructure developed by German fintech Secure Worldwide Interbank Asset Transfer (SWIAT), which has now transferred ownership of the network to the cooperative.  SWIAT said the platform has processed more than 50 transactions worth over 700 million euros (about $808 million) during three years of production use.  The blockchain is designed to support institutional use cases including digital money, tokenized bonds, collateral and blockchain-based settlement. RL1 said the shared network could reduce fragmentation caused by financial institutions operating separate distributed ledger systems.  Former SWIAT Managing Director Henning Vollbehr will lead RL1. KfW and L-Bank will continue supporting the initiative, while RL1 said it is in discussions with additional institutions, including NatWest, about joining the network.  Related: CoinShares debuts Bitcoin

07-29انڈسٹری

Kraken opens Jersey Mikes IPO to retail investors through tokenized shares and direct allocations

Crypto exchange Kraken is offering retail investors access to the planned Jersey Mike‘s initial public offering, allowing eligible US customers to request allocations of the sandwich chain’s shares and users in more than 110 countries to request tokenized shares backed 1:1 by the underlying stock.  Eligible US customers can submit interest in book-entry Jersey Mikes shares at the IPO price, while global customers can request JMKEx, a tokenized version of the stock with the backing shares held in regulated custody. Allocations are determined by the IPO underwriter and are not guaranteed.  JMKEx will begin trading 24 hours a day, five days a week on Kraken and participating xStocks Alliance platforms once the IPO closes, while the underlying Jersey Mikes shares will trade during regular US market hours.  Kraken said tokenized shares can be transferred across participating xStocks Alliance platforms, moved onchain and integrated with compatible decentralized finance applications, extending access to public equities beyond traditional brokerage accounts.  Jersey Mike‘s is a US sandwich chain with more than 3,300 locations. According to the company’s IPO announcement, it expects to price the offering between $21 and $25 per share and list its Class A shares on the New York Stock Exchange under the ticker JMKE.  Related: Kalshi

07-29انڈسٹری

TradFi perpetuals double to $2B on crypto exchanges: CryptoQuant report

Open interest in perpetual contracts tied to stocks, metals and oil has doubled since late May as major crypto exchanges expand beyond digital assets, CryptoQuant reported.  SummaryTradFi perpetual open interest has more than doubled to over $2 billionsince late May.Binance, Bybit and Gate control about 70%of the emerging derivatives segment.Crypto perpetual open interest stands near $65 billion, around 20% below its previous peaks.  TradFi perpetual open interest climbs above $2B  TradFi perpetual contracts have become one of the fastest-growing areas of the crypto exchange market, according to CryptoQuants report.  The products give traders continuous exposure to traditional assets, including metals, crude oil and equities. Unlike standard futures, perpetual contracts do not have a fixed expiry date and use regular funding payments to keep their prices close to the underlying market.  TradFi perpetual open interest climbs above $2 billion | Source: CryptoQuant  Open interest in these products remained between roughly $350 million and $500 million during spring 2026. It then rose sharply from late May, crossing $2 billion by July.  The increase allows crypto exchanges to compete more directly with traditional trading platforms. Crypto venues can offer the contracts around the clock, including during hours when conventional stock and commodity markets are closed.  Despite the rapid growth, TradFi perpetuals

07-29انڈسٹری

'Anything remotely dovish' from Fed could be good for bitcoin, says analyst

SummaryBitcoin has held steady above $63,000 and is up about 6% for the month even as AI-linked tech and semiconductor stocks have slumped.Traders are split ahead of Wednesdays Federal Reserve decision, with markets pricing roughly a 30 percent chance of a rate hike.Analysts say bitcoins correlation with equities has weakened, suggesting this weeks Fed meeting may have a smaller impact on the cryptocurrency than on traditional risk assets.  Markets are split on whether the Federal Reserve will hike rates or stay on hold on Wednesday, but analysts say bitcoin may be less vulnerable than AI-driven tech stocks.  Bitcoin recovered from its intra-day losses to trade flat just below $64,000 on Tuesday, while AI-linked technology stocks stumbled again ahead of one of the most uncertain Fed meetings in years.  Markets currently price a 70% probability that the Fed leaves rates unchanged on Wednesday and a 30% chance of a surprise 25-basis-point hike, CME FedWatch data shows. The split reflects Chair Kevin Warshs reduced use of forward guidance, leaving investors with less clarity on the central banks next move, according to derivatives analytics firm Block Scholes.  Traders are unusually split ahead of Fed decision (CME FedWatch)  “Tomorrows FOMC meeting, Kevin Warshs second as chairman of the Fed,

07-29انڈسٹری

Morgan Stanley expands crypto lineup with Ether, Solana ETPs

Morgan Stanley Investment Management has launched Ether and Solana exchange-traded products, expanding its fund lineup beyond Bitcoin.  The Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and Morgan Stanley Solana Trust (NYSE Arca: MSOL) seek to track the performance of Ether (ETH) and Solana (SOL), respectively, using the CoinDesk Ether Benchmark 4PM NY Settlement Rate and CoinDesk Solana Benchmark 4PM NY Settlement Rate.  Both funds carry a 0.14% expense ratio and intend to stake a portion of their holdings, with staking rewards passed through to investors. Morgan Stanley said it will not retain any portion of the staking rewards earned by either fund.  The launch follows Morgan Stanleys rollout of spot cryptocurrency trading on its E*TRADE platform earlier this month, allowing eligible clients to buy, sell and hold Bitcoin, Ether and Solana through a partnership with crypto infrastructure provider Zero Hash.  In April, Morgan Stanley launched the Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), becoming the first major US commercial bank to offer a spot Bitcoin ETF. The fund had more than $381 million in assets under management as of July 16, according to the company.  Magazine: Here‘s why the CLARITY Act’s ethics deal may be so hard to reach

07-29انڈسٹری

CLARITY Act odds fall to 34% as Senate delays vote

Prediction markets are lowering the chances of the CLARITY Act becoming law in 2026 as the Senate turns to Russia sanctions and federal nominations before its August recess.  CLARITY Act loses its place on the Senate schedule  Senate Majority Leader John Thune has not scheduled immediate action on the CLARITY Act, narrowing the path for the crypto market structure bill before lawmakers leave Washington.  The Senate is instead moving forward with federal nominations and legislation imposing sanctions on Russia and Iran. Preliminary action on the crypto bill remains possible during the week of Aug. 3, but the chamber is scheduled to begin its summer recess after Aug. 7.  According to Galaxy Digital head of research Alex Thorn, the timetable has become the main threat to passage.  “The calendar is no longer merely an obstacle. It is now the enemy.”  Thorn estimated that lawmakers needed to begin the floor process by July 30 to leave enough time for procedural votes and debate. The Senates decision to prioritize other legislation makes that timeline increasingly difficult.  A vote after the recess is still possible. However, senators would return closer to the November midterm elections, when campaigning could displace complicated legislation requiring bipartisan negotiations.  Senate vote math leaves little room for defections  Most

07-29انڈسٹری

Claude Mythos Cracked Post-Quantum Cryptography That Humans Spent Years Failing to Break

In briefAnthropic said its unreleased Claude Mythos Preview model found a previously unknown attack on HAWK, dropping the cost of stealing its smallest key from 2^64 operations to 2^38.The model also sped up an attack on a 7-round version of AES by 200 to 800 times, beating a record cryptographers set in 2013.Each result cost roughly $100,000 in API usage, and Anthropic staff spent several hundred hours verifying the AES work was real.  Anthropic today said an unreleased version of its most powerful AI model found two previously unknown attacks on cryptographic algorithms, one of them against a scheme currently competing to become a U.S. federal standard.  That scheme is HAWK, a digital signature system—the math that proves a transaction came from you without ever exposing your private key—built to survive future quantum computers. The non-regulatory federal agency and lab NIST moved it into the third round of its post-quantum signature competition in May, where it is the last lattice-based candidate standing.  Claude found a symmetry buried in HAWKs math that no human had thought to use. For the smallest configuration, the cost of recovering a secret key fell from 2^64 operations to 2^38, roughly 67 million times less work.  Fixing it means roughly

07-29انڈسٹری

Teacher Arrested for Clapping at AI Data Center Public Hearing

In briefA Kansas teacher was arrested after clapping in protest over a proposed AI data center at a public hearing.Communities across the U.S. are increasingly pushing back against AI infrastructure over energy, water, and local impacts.Public opposition is becoming one of the biggest hurdles to the AI industrys rapid data center expansion.  A Kansas high school physics teacher was arrested and carried out of a city commission meeting after expressing support for opponents of a proposed AI data center, according to a report by local broadcaster KWCH.  Lux Claridge, a physics teacher at Emporia High School, was handcuffed after applauding several times in support of a speaker criticizing the proposed 1,000-acre Flint Hills Digital Campus.  Emporia city commission reportedly warned attendees before the meeting that clapping, snapping, and other demonstrations would be considered disruptions. After a final warning, police removed Claridge from the chamber as the meeting continued.  “Im glad to be out—but this is an inconvenience, really,” Claridge told KWCH after posting bail. “Its not really deterring me from speaking out or, I guess, clapping.”  The Emporia Police Department said it remains committed to ensuring public meetings are conducted safely while respecting residents rights to participate in the civic process. Claridge plans to plead

07-29انڈسٹری

Galaxy, MARA Holdings deepen Texas expansion with land acquisitions

Crypto companies continued to expand their physical footprint in Texas, with Galaxy Digital and MARA Holdings announcing separate land acquisitions tied to AI, high-performance computing (HPC) and Bitcoin mining infrastructure.  On Tuesday, Galaxy Digital, a crypto financial services and infrastructure company, said it acquired a 500-acre site in McGregor, Texas, where it plans to build its second AI and high-performance computing (HPC) data center campus in the state. The project is expected to launch with 74 megawatts of power capacity before expanding in later phases.  MARA Holdings, a Bitcoin miner and digital infrastructure company, separately announced an agreement to acquire a 1,200-acre powered site in Matagorda County with access to up to 2 gigawatts of power capacity. The company said it intends to develop the site for AI and HPC workloads as well as bitcoin mining.  The announcements came the same day that Meta Platforms disclosed plans for a $14 billion AI data center campus in El Paso, adding to a wave of large-scale infrastructure investments in Texas.  Texas has emerged as a key destination for data center and crypto infrastructure projects because of its large power market, relatively low electricity costs and the availability of land suitable for large-scale developments. The states independent

07-29انڈسٹری
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