The European Union is accelerating work on a digital euro and is weighing public blockchains, including Ethereum and Solana, for issuance and settlement, per the Financial Times. The move follows passage of U.S. stablecoin legislation and a market dominated by dollar-pegged tokens, a backdrop that raises concerns inside European institutions about the euro’s role in […]
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Asia’s financial services giant DBS has launched its tokenized structured notes on the Ethereum network for accredited and institutional investors, marking a public-chain expansion of the bank’s digital asset program. The notes are issued on Ethereum and sold in smaller ($1,000) units than conventional private-bank products, targeting distribution to eligible clients via licensed platforms. The […]
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The Crypto Council for Innovation (CCI) and the Blockchain Association jointly issued a letter on Aug. 20 endorsing Brian Quintenz for Chairman of the US Commodity Futures Trading Commission (CFTC). In the letter to President Donald Trump, the groups emphasized that confirming Quintenz promptly is critical to advancing his administration’s agenda to foster a “golden […]
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Four in 10 crypto investors in Britain reported that their banks blocked or slowed payments to digital asset platforms, highlighting growing tension between traditional finance and the country’s crypto sector. The findings come from an IG Group survey of 500 active crypto users and 2,000 adults across the U.K., according to a CoinTelegraph report. Crypto […]
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Federal Reserve Vice Chair for Supervision Michelle Bowman has called for banks to embrace blockchain technology or risk losing relevance. At the Wyoming Blockchain Symposium on Aug. 19, Bowman emphasized that regulators and banks must adopt a more proactive approach to the crypto industry. She pointed out that integrating these new innovative technologies would be crucial […]
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Federal Reserve Vice Chair for Supervision Michelle Bowman acknowledged that crypto firms experienced debanking due to regulatory uncertainty. During the Wyoming Blockchain Symposium on Aug. 19, Bowman also announced a fundamental shift in the Fed’s approach to blockchain innovation. She revealed the central bank eliminated reputational risk considerations from bank supervision in late June to […]
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Japan and South Korea are moving quickly to create clearer rules for stablecoins as global interest in digital currencies grows. Stablecoins are cryptocurrencies designed to hold steady value by linking to fiat currencies, commodities, or other assets. Their use in payments, trading, and DeFi has expanded rapidly, with forecasts suggesting the market could grow into […]
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Over 80 executives from leading crypto and fintech companies, including Gemini, Andreessen Horowitz, Paradigm, and Kraken, have called on US President Donald Trump to block new bank-imposed fees for accessing consumer financial data. In an Aug. 14 letter, the group argued that these charges, set to take effect in September, directly threaten innovation and consumer […]
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A coalition of US banking groups, led by the Bank Policy Institute (BPI), has urged lawmakers to address a major oversight in the recently passed GENIUS Act stablecoin bill. In an Aug. 12 statement, the BPI conceded that the bill blocks stablecoin issuers from offering direct yields or interest to holders. However, they pointed out […]
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Chainlink’s growing role in SWIFT’s blockchain integration is drawing comparisons to XRP’s long-standing ambitions in the same sector. Related Reading: Ethereum Faith Fading? Samson Mow Says Holders Will Shift To Bitcoin Reports have disclosed that SWIFT already uses Chainlink technology to connect more than 11,000 banks to public and private blockchains, a move some believe gives Chainlink an edge in real-world adoption. Chainlink’s Ties With Global Finance Supporters point out that Chainlink’s work now spans major financial players such as the DTCC, Mastercard, central banks, and top asset managers. The collaboration with SWIFT is central to this progress, enabling data and transaction flows between multiple blockchains. When asked which blockchain would carry these transactions, Chainlink advocate Zack Rynes said any of the hundreds available could serve that role, leaving the door open for XRP and the XRP Ledger (XRPL) to participate. He did point out though that, in reality, Swift and Chainlink have been collaborating to link up 11,500 Swift-affiliated lenders to both public and private blockchain networks. People claim $XRP will replace Swift, when in reality Swift is working with @Chainlink to connect 11,500 Swift member banks to any public/private blockchain There’s a million examples of this kind of disconnect between narrative and reality$LINK = institutional coin pic.twitter.com/nt0XXtleV9 — Zach Rynes | CLG (@ChainLinkGod) August 10, 2025 Some XRP backers have pushed back, suggesting that outside criticism is a sign the token is nearing a major breakthrough. Rynes disagreed, arguing that his stance comes from the belief that Chainlink’s $14 billion market cap is too low compared to XRP’s $188 billion, especially given Chainlink’s institutional achievements. Different Views From Ripple Supporters The debate also drew in Dom Kwok, co-founder of EasyA, who responded to a remark from influencer Ansem that Chainlink is what Ripple would be “if it actually worked.” Kwok said he has personally seen Ripple’s technology used in real-world cases, but has yet to see Chainlink deployed in the same way or meet developers actively building with it. He noted that time spent directly with builders often reveals which technology is working at scale. Chainlink’s partnership with SWIFT dates back to 2016 but has accelerated recently. i have actually seen @ripple’s tech work in real life. i’ve never seen @chainlink work in real life, nor have i met anyone building with chainlink either. when you spend every day on the ground with developers you understand what tech works much better than an influencer who’s… https://t.co/0SIbExpvPf — Dom | EasyA (@dom_kwok) August 10, 2025 Related Reading: Ethereum Hits $4,300, Restoring Vitalik Buterin’s Crypto Billionaire Status Both announced a proof-of-concept at the most recent Chainlink SmartCon event, utilizing the Cross-Chain Interoperability Protocol (CCIP) to interconnect SWIFT’s legacy messages with multiple blockchains. In May 2023, tests with BNY Mellon and BNP Paribas successfully transferred tokenized assets between chains. Featured image from Unsplash, chart from TradingView
Aave, one of the largest decentralized lending protocols, could see its net deposits soar to $100 billion before the end of this year, according to the platform’s founder, Stani Kulechov. In an Aug. 10 post on X, Kulechov explained that the DeFi protocol’s current growth rate could push it to that figure sooner than expected. […]
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President Donald Trump issued a debanking executive order this week aimed at stopping what his administration described as unfair banking discrimination toward the crypto sector. Will the order be the definitive blow to the so-called Operation Choke Point 2.0? Will banks that debanked crypto companies unfairly be forced to reinstate them? Custodia Bank founder and […]
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El Salvador is signaling its next significant step in Bitcoin adoption by planning to create a dedicated Bitcoin bank. On Aug. 8, the country’s Bitcoin Office posted on X, declaring: “Bitcoin Banks are coming to the Bitcoin Country.” Although no further details were disclosed, the announcement suggests a plan to integrate Bitcoin-based banking into the […]
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President Donald Trump signed an executive order on Aug. 7 to halt what his administration called discriminatory banking practices against the crypto industry. The order bars federal regulators from using “reputational risk” as justification to influence banks’ decisions about working with legal businesses. According to the administration, the digital asset sector has been disproportionately affected […]
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US President Donald Trump is reportedly preparing to sign an executive order aimed at curbing discrimination against the crypto industry by US banks, the Wall Street Journal reported on Aug. 4. According to sources familiar with the matter, the order would introduce fines for banks that block transactions involving crypto companies. This measure would address […]
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Coinbase has urged US lawmakers to modernize the Bank Secrecy Act (BSA) by incorporating Zero-Knowledge Proofs (ZKPs) into the country’s financial compliance framework. In an Aug. 4 statement, Coinbase’s Chief Legal Officer Paul Grewal argued that ZKPs could enhance financial transparency while simultaneously protecting consumer privacy. Why Zero-Knowledge Proofs? According to him, the existing Know-Your-Customer […]
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Senator Cynthia Lummis (R‑Wyo.) introduced the 21st Century Mortgage Act on July 29, legislation that aims to bring US underwriting into the digital era by requiring Fannie Mae and Freddie Mac to consider digital assets when assessing single‑family mortgage eligibility. The bill directs the government‑sponsored enterprises to recognize assets recorded on cryptographically secured ledgers and […]
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Gemini co‑founder Tyler Winklevoss said JPMorgan froze the crypto exchange’s effort to regain banking services after he accused “banksters” of trying to strangle fintech and crypto firms. In a thread on July 25, Winklevoss claimed the bank told Gemini that his earlier tweet had prompted a pause in re‑onboarding, an effort underway since JPMorgan off‑boarded the company […]
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A coalition of crypto, fintech, and retail trade groups has urged President Donald Trump to take a firm stance in defending the nation’s open banking framework, warning that legal challenges by major banks threaten consumer data rights and could derail the administration’s innovation agenda. In a July 23 letter, the Financial Technology Association, Blockchain Association, […]
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PNC Financial Services Group has formed a partnership with Coinbase to let the bank’s customers access crypto services, as Bloomberg News reported on July 22. According to PNC’s head of treasury management Emma Loftus, the arrangement is in its early phase. It will begin by allowing wealth and asset management clients to trade cryptocurrencies directly […]
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JPMorgan Chase is reportedly preparing to offer loans backed by client-held digital assets, including Bitcoin and Ethereum, marking a direct engagement with crypto collateralization by a global systemically important bank for the first time. The plan, reported by the Financial Times and Reuters, would expand an existing effort by the bank to accept spot Bitcoin […]
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JPMorgan’s latest research indicates that international regulators are more inclined to support tokenized deposits, particularly those that preserve the existing structure and stability of fiat-based banking systems, The Block reported on July 18. According to the Wall Street lender, financial regulators outside the United States are showing a growing preference for tokenized bank deposits over […]
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Bank of America is taking early steps to explore stablecoins as a way to modernize its payment systems and handle trillions of dollars in client transactions more efficiently, the lender’s CEO, Brian Moynihan, said during the bank’s second-quarter earnings call on July 15. Moynihan emphasized that the firm’s current focus is on using stablecoins “as […]
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JPMorgan CEO Jamie Dimon said on a July 15 earnings call that the bank will launch products tied to stablecoins and its deposit coin as part of a broader payments strategy. As CNBC reported, Dimon said the firm “will be involved” in both formats to master the technology and protect market share. Banks refine stablecoin playbooks […]
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The Office of the Comptroller of the Currency (OCC), the Federal Reserve Board (Fed), and the Federal Deposit Insurance Corporation (FDIC) released a joint statement explaining how existing banking rules apply when institutions custody crypto for customers. The guidance describes “safekeeping” as the act of holding a digital asset on a client’s behalf and stresses […]
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Aave, the DeFi protocol known for its borrowing and lending services, has hit a key milestone, surpassing $50 billion in net deposits. This achievement positions Aave as the largest DeFi protocol, with a total value locked (TVL) nearly double that of its closest competitor, Lido. According to recent data from the Federal Reserve, Aave’s current […]
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According to a July 9 announcement, Ripple has appointed BNY Mellon as the official reserve custodian for its enterprise-focused stablecoin, Ripple USD (RLUSD). According to a July 9 announcement, BNY Mellon was selected based on its extensive experience in digital asset infrastructure and its role as a trusted provider of transaction banking services in the US. The […]
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Hackers siphoned about R$800 million ($140 million) from six reserve accounts connected to Brazil’s central bank after breaching São Paulo-based software vendor C&M Software on June 30, according to blockchain investigator ZachXBT and reports from local news outlets. Police said C&M employee João Nazareno Roque sold his corporate login for R$15,000 ($2,770) and later developed […]
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Swiss-based AMINA Bank will provide custody and trading for Ripple’s RLUSD stablecoin. The move offers the relatively new dollar-pegged asset with a European base inside a FINMA-licensed institution, a development that integrates the stablecoin directly into a regulated banking environment for institutional and private clients. The integration marks one of the first adoptions for RLUSD […]
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Ripple applied for a national bank charter with the Office of the Comptroller of the Currency (OCC) on July 2, CEO Brad Garlinghouse wrote in a post on X. The filing would place Ripple USD (RLUSD) under federal supervision while maintaining its existing oversight by the New York Department of Financial Services, creating a “new […]
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