Swift taps 17 global banks to pilot tokenized deposit ledger
Sony's banking arm got the US green light for a stablecoin trust.
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Some bets on the future of finance paid off this week. Others had to wait.
A new stablecoin trust got conditional approval. A push for 24/7 futures trading did not.
Elsewhere, old financial infrastructure quietly went live with new blockchain capability, and Bitcoin held its gains as risk appetite returned.
Here's today's crypto briefing.
Swift activates blockchain ledger with 17 banks piloting 24/7 tokenized payments
Swift just flipped the switch on a shared blockchain ledger for cross-border payments.
The network connects over 11,000 financial institutions globally.
Now 17 banks are testing tokenized deposit transfers that settle around the clock.
If this scales, the slow, batch-processed world of international wire transfers gets a serious upgrade.
Markets
Bitcoin recovers as oil prices cool and institutions prep for quantum threats
Bitcoin climbed back above $63K on Thursday as oil prices and bond yields pulled back.
Easing tension around the Iran conflict gave investors room to rotate back into risk assets.
Meanwhile, BitGo introduced quantum-protection tools for institutional Bitcoin wallets.
The toolkit helps identify quantum-related risks and strengthens wallet operations with new UTXO management and key exposure controls.
BTC traded near $63K, ETH hovered below $2K, SOL sat near $78, and XRP held above $1.
Sony Bank gets OCC green light to launch US trust bank for stablecoins
The OCC just gave Sony Bank conditional approval to open a national trust bank in the US.
The subsidiary plans to launch Connectia Trust, focused on dollar stablecoin issuance.
Sony bridging gaming, entertainment, and digital finance is a combination worth watching closely.
CFTC blocks CME's bid to trade crude oil futures around the clock
CME wanted to offer 24/7 crude oil futures trading. The CFTC said not so fast.
The regulator pulled the proposal back for further review before it can go live.
Around-the-clock trading may be crypto's norm, but traditional markets still need permission slips.
On Our Radar
The blockchain redemption arc: ad-tech is actually improving without crypto involved.*
Stablecoin reality check: Cathie Wood doesn't see Open USD toppling the current leaders.
Bridge shuffle: Mantle swaps its Super Portal infrastructure from LayerZero to Chainlink.
*sponsored
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See you in the next one.
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