News, data and analysis on tokenized assets, market design and digital economic systems.
Value moved across borders and between institutions: corridors, correspondent chains, deposit tokens and the cost the existing rails charge.
Two years of Bank Secrecy Act filings and 33,904 reports, and the finding that matters on this beat is not the total: whatever the victim was persuaded to buy, the proceeds were nearly always turned into stablecoins, and almost exclusively into USDT.
Cari, the shared tokenized deposit network built with six US regional banks, raises $32.5m entirely from banks. Its whole argument is that the token stays a bank liability inside deposit insurance rather than becoming a claim on a reserve pool.
Bank of America, Citi, Goldman Sachs, Deutsche Bank, UBS, MUFG and fifteen others say they will establish a company this half to support a USD stablecoin, with a euro one to follow and nothing else settled.
The Office of Foreign Assets Control determined on 24 August that section 1(a)(i) of Executive Order 13902 now applies to the digital asset sector of the Iranian economy, so any person anywhere who operates in it may be designated.
Standard Chartered and HSBC say they have executed the first live tokenized deposit transaction on Swift's blockchain-based ledger, issuing, transferring, recording and settling between two banks' own platforms.
The Treasury proposed the rules deciding who may issue a dollar stablecoin in the United States, and read the GENIUS Act to let a qualifying foreign issuer do it here directly rather than only reach the market at second hand.
cNGN, issued by WrappedCBDC under the Nigerian SEC's oversight, has gone live on Celo with an onchain foreign exchange pairing, giving the naira a regulated onchain form beside the dollar tokens that dominate local use.
Total revenue and reserve income of $701m in the second quarter grew 7% year on year, short of the $712m CoinDesk says analysts expected, as a 66 basis point fall in the rate Circle earns on its reserves offset a quarter's growth in the coin's average supply.
The yen stablecoin issuer says the extension takes the round to about 6bn yen cumulatively, with a listed logistics group aboard.
The fourth-largest US bank says corporate and commercial clients will move, program and settle funds around the clock on its own blockchain, starting with a limited dollar to pound exchange and widening through 2027.
SC Ventures, the Sony Innovation Fund, Polychain Capital and Blockchain Capital back the pan-African payments company's dollar-account business, taking its equity financing past $120m as it moves into Latin America and the Asia-Pacific.
The BIS says twenty-eight institutions and central banks moved around CHF800,000 of live tokenized deposits across borders, the first time the project has put real value at stake.
The federally regulated dollar token Tether launched in January now mints and burns natively on the payments network, where it can also pay for gas.
The exchange holding Nigeria's first provisional digital asset approval says businesses can now settle in 14 currencies across nine African markets and beyond, a bet that regulated rails can undercut some of the world's costliest payment corridors.
The USDC issuer acquires more than 680 patent families and says the deal makes it the largest US blockchain patent holder; the price was not disclosed.
The Council adds platforms in six jurisdictions to its Russia measures and creates, for the first time, a tool to bar dealings with any crypto provider used by Russia.
Bank of China settled the two largest transactions recorded on mBridge, the multi-central-bank digital currency platform, in June and July 2026.
Mastercard and the African digital-asset platform Yellow Card announced a partnership on 7 May 2026 to build stablecoin-based payment and settlement rails across Eastern Europe, the Middle East and Africa.
JPMorgan said on 7 January 2026 that it would issue JPMD, its dollar deposit token, natively on the Canton Network, a privacy-oriented institutional blockchain.
Receiving $200 in Sub-Saharan Africa cost 8.46% in the third quarter of 2025; the tokens undercutting that price are almost entirely dollar-denominated, and the flows are unmeasured.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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