Digital asset infrastructure provider Stablecore has joined forces with two U.S. federal credit union organizations to launch a program intended to help the small lenders evaluate stablecoin, tokenized deposit and digital asset products as adoption grows. Together with Circuit, a research and development Credit Union Service Organization (CUSO) and Curql, a fintech investment organization with more than 160 credit union members, Stablecore’s initiative will allow participating credit unions to test and offer stablecoin and digital asset services. These include stablecoins, tokenized deposits, Bitcoin, on and offramps, and staking, among other things. The program will provide education to both staff and members of credit unions, in order to prepare them for…
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Goldman Sachs' Matt McDermott sees "no signs" of institutional interest in Bitcoin abating (Photo: Goldman Sachs)Goldman Sachs sees ‘huge’ institutional demand for Bitcoin
Fully 40% of the investment banking giant’s nearly 300 institutional customers already have exposure to crypto, said its head of digital assets, Matt McDermott
“We have seen no signs of that abating," said McDermott. "And when we talk about institutional demand, we talk about the whole cross section of the industry sectors... And when I talk about the broad spectrum, I'm referring to hedge funds, to asset managers, to macro funds, to banks, to corporate treasurers, insurance, and pension funds.”
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Wyoming's claim to be able to allow firms to custody digital assets seems alien to the SEC (Photo: Pixabay/Mike Goad)SEC taking dim view of Wyoming’s claim it can authorize crypto custody
The Securities and Exchange Commission is seeking comments on Wyoming’s recent No-Action Letter authorizing state-chartered trust companies to custody traditional and digital assets
The Wyoming letter asserts that the state-chartered trust companies are allowed to be “qualified custodians” for digital assets. In response, the SEC’s Division of Investment Management published its own staff statement highlighting that the Wyoming letter made clear that it “expressly states that the letter ‘should not be construed to represent the views of the SEC or any other regulatory agency.’”
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FTX pairing tokenized tech shares with cryptocurrencies
Fractional stocks can make gaining exposure to equities less expensive, as traders don’t need to purchase a whole share
The crypto derivatives exchange FTX will soon offer tokenized shares of some of the world’s biggest companies—including Tesla, Apple, Amazon and Alphabet. From next week, fractionalized versions of these tech stocks will be paired against Bitcoin and stablecoins, opening the stock market to a new sub-section of investors.
