199: Circle lends without lending
Circle adds Aave borrowing, regulators propose crypto rules without Congress, Samsung plans USDC transfers and Ripple expands prime brokerage.
51 Insights
Insights
Independent analysis of the institutions, infrastructure and markets shaping digital assets.
Free every Friday · Join 35,000+ readers · Unsubscribe anytime
Latest
44 publications199: Circle lends without lending
Circle adds Aave borrowing, regulators propose crypto rules without Congress, Samsung plans USDC transfers and Ripple expands prime brokerage.
Circle offers bitcoin loans without lending a dollar
Circle now lets institutions borrow USDC against bitcoin in Circle Mint. The dollars come from DeFi pools, and code decides when to sell.
SEC proposes crypto custody rules as community banks sue OCC over trust charters
The SEC proposes letting state trust companies hold adviser crypto as community banks sue the OCC over crypto trust charters. What it means for custody.
SEC proposes crypto custody rules as community banks sue OCC over trust charters
The SEC proposes letting state trust companies hold adviser crypto as community banks sue the OCC over crypto trust charters. What it means for custody.
198: Who gets the stablecoin interest?
Open USD launches with partner rewards, Citi plans stablecoin payments, Korea proposes token rules and Roughrider goes live through Fiserv.
198: Who gets the stablecoin interest?
Open USD launches with partner rewards, Citi plans stablecoin payments, Korea proposes token rules and Roughrider goes live through Fiserv.
OpenUSD goes live and hands the interest to its partners
OUSD went live paying partners nearly all its reserve interest. 25 of 63 USDC partners joined. Why that costs Circle bargaining power, not USDC supply.
Monday: Citi's stablecoin checkout with Coinbase
Citi plans stablecoin checkout with Coinbase, Goldman offers FTIXX through Lynq and Swift's ledger draws connectors. How crypto is moving into the back office.
Monday: Citi's stablecoin checkout with Coinbase
Citi plans stablecoin checkout with Coinbase, Goldman offers FTIXX through Lynq and Swift's ledger draws connectors. How crypto is moving into the back office.
SEC staff clear token buybacks and let each issuer set its own exit test
SEC staff cleared token buybacks and liquid staking once a network works. The catch: each issuer defines 'works,' and a future SEC can undo it.
197: SoFi targets $25B in card settlement
SoFi begins stablecoin card settlement, NYSE pursues Blockchain.com distribution, Ondo launches BlackRock-strategy portfolio tokens, and the ECB opens Pontes.
197: SoFi targets $25B in card settlement
SoFi begins stablecoin card settlement, NYSE pursues Blockchain.com distribution, Ondo launches BlackRock-strategy portfolio tokens, and the ECB opens Pontes.
Canada's big six banks are building a digital dollar that stablecoins legally can't match
Canada's six biggest banks are exploring a tokenized deposit. The law lets bank tokens pay interest and bans it for stablecoins. Here's why that matters.
ECB launches tokenized trades in central bank money
Pontes lets banks settle tokenized trades in central bank money. Our take on stablecoin competition, limited operating hours and Europe’s next test.
196: Congress said no. The SEC yes.
The Senate killed the Clarity Act 49-50. Two days later the SEC gave tokenized stock venues a five-year exemption. And Deutsche Bank launches digital asset custody.
196: Congress said no. The SEC yes.
The Senate killed the Clarity Act 49-50. Two days later the SEC gave tokenized stock venues a five-year exemption. And Deutsche Bank launches digital asset custody.
The SEC Took the Pen
The SEC legalized onchain US stock trading for five years, by order, two days after the Senate killed Clarity. Almost nothing trading onchain today qualifies.
Who won the Clarity fight
The Clarity Act died 49-50. The three fights that killed it were not about crypto, and the SEC walks away holding the pen. Winners and losers, by seat.
Who wins the clarity deal?
Clarity Act ethics concessions, developer protections and a proposed stablecoin rewards circuit breaker, plus the Fed meeting and Arc's planned launch.