Autor Cointelegraph by Nate Kostar

Anchorage Digital has integrated its off-exchange settlement platform with Binance, allowing institutional clients to trade on the exchange while keeping their crypto and cash in qualified custody at the federally chartered US crypto bank rather than depositing assets directly onto Binance.Under the arrangement, institutions can use crypto assets or US dollar deposits held with Anchorage as collateral to meet Binance’s margin requirements without first transferring those assets onto the exchange. The companies said the model separates custody from trade execution, allowing assets to remain with an independent custodian until settlement.The service is initially available to select institutional clients and marks the first off-exchange settlement implementation for Anchorage Digital’s Atlas platform, which the company said is designed to support institutional trading, settlement, lending and collateral management through custody-based infrastructure.The collaboration addresses one of the biggest obstacles keeping institutional capital on the sidelines of crypto markets: exchange counterparty risk. By eliminating the traditional requirement to pre-fund trades, this could bring crypto trading closer to the custody-and-execution model long used in traditional financial markets.Financial terms of the partnership were not disclosed.Related: ESMA MiCA warning puts Binance EU service changes under scrutinyCrypto exchanges expand off-exchange settlement offeringsOff-exchange settlement has gained traction among institutional crypto trading platforms in 2026.In April, BitMEX partnered with Zodia Custody to let institutional clients trade derivatives while keeping collateral in segregated custody rather than on the exchange. Under the BitMEX integration, traders can access perpetual swaps and futures while collateral remained in Zodia’s custody and was mirrored for trading.BitMEX said the structure eliminated the need to prefund exchange accounts while improving capital efficiency and reducing operational risks associated with moving assets between custody and trading venues.Source: BitMEXBitget adopted a similar model in June by integrating Fireblocks Off Exchange. The integration allows institutional clients to execute trades from MPC-based wallets while keeping assets in trader-controlled collateral vaults rather than transferring them onto the exchange. According to Bitget, the platform can verify that trading accounts are fully collateralized in real time without taking custody of client assets.KuCoin Institutional also expanded its institutional custody offering earlier in the year, integrating Ceffu’s MirrorX platform in January. The system allows institutional clients to trade while keeping digital assets in third-party custody, with funds mirrored for trading and settled offchain every four hours.Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves

The US Securities and Exchange Commission (SEC) has requested public comment on exchange-traded funds (ETFs) investing in novel asset classes or using new investment strategies, as the agency reviews how such products should be regulated.The consultation seeks feedback on whether existing rules adequately address novel ETFs, how such funds should be regulated and whether changes to the registration process are needed as new products enter the market.According to the regulatory agency, the request focuses on funds investing in innovative asset classes or employing new investment strategies, where it is evaluating whether existing regulations remain appropriate.The public comment period will remain open for 60 days following publication in the Federal Register, giving market participants an opportunity to weigh in before the SEC considers potential regulatory changes.Exchange-traded funds have grown rapidly in recent years, with assets under management increasing from about $4 trillion in 2019 to more than $12 trillion at the end of 2025, according to the SEC.Related: Spot Bitcoin ETFs bleed $1.7B as outflow streak hits four weeksThe request follows another recent consultation by US market regulators. Last week, the SEC and Commodity Futures Trading Commission (CFTC) sought public feedback on harmonizing portfolio margin rules across securities and derivatives markets.Crypto ETF strategies grow more sophisticatedIn recent months, crypto ETF issuers have increasingly expanded beyond simple price-tracking products, introducing funds tied to staking, stablecoin reserves and more specialized investment strategies.In June, ProShares introduced the GENIUS Money Market ETF, a Treasury-focused fund designed around reserve assets permitted under the GENIUS Act for payment stablecoins, while Grayscale launched the Hyperliquid Staking ETP, offering exposure to HYPE (HYPE) while seeking to generate staking rewards.Bitcoin investment products are becoming more specialized as well. BlackRock proposed an options-based Bitcoin income ETF in January, followed by Goldman Sachs in April with a fund combining spot Bitcoin products and covered-call strategies.BlackRock’s Bitcoin Premium Income ETF filing. Source: SEC.govEarlier this month, Franklin Templeton proposed two ETFs that would systematically reinvest stock dividends into Bitcoin-linked investments, combining US equities with a rules-based Bitcoin allocation. The proposed funds would gain Bitcoin (BTC) exposure through instruments including exchange-traded products, futures, options and Bitcoin-backed depositary receipts.ETF issuers are also experimenting with portfolios that combine digital assets with traditional asset classes. In January, Bitwise launched an actively managed ETF pairing Bitcoin with gold, precious metals and mining equities.Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves

Nasdaq has selected Pyth, an onchain financial data network, to distribute its proprietary market data to blockchain applications and other software platforms.The partnership initially covers Nasdaq TotalView, the exchange’s depth-of-book data feed, which includes every displayed buy and sell order across all price levels as well as order imbalance data around the opening and closing auctions. The feed is widely used by professional traders because it provides a more complete view of market liquidity than standard market quotes by displaying the full order book.According to Pyth, the marketplace gives software applications access to first-party market data through a single integration. The company said the service is intended for blockchain applications, digital asset exchanges, prediction markets, trading systems and other software platforms.Nasdaq joins a group of publishers on Pyth that includes exchanges Euronext and OTC Markets, electronic trading platforms Tradeweb and Kalshi, market data provider Exchange Data International, Singapore Exchange’s SGX FX and the US Department of Commerce.Related: Coinbase lets users transfer stock portfolios as exchange expands beyond cryptoNasdaq and ICE deepen digital asset strategiesNasdaq’s partnership with Pyth is the latest in a series of moves by established exchange operators to expand their digital asset businesses through cryptocurrency products, blockchain infrastructure and new market services.In March, Nasdaq has expanded its tokenization efforts through a partnership with crypto exchange Kraken and its infrastructure affiliate Backed to develop infrastructure linking traditional equities with blockchain networks. The initiative builds on the exchange operator’s broader push to integrate tokenized assets with traditional market infrastructure.The following month, the SEC approved Nasdaq’s proposal to list Bitcoin index options tied to the Nasdaq Bitcoin Index, paving the way for trading pending approval from the Commodity Futures Trading Commission. Nasdaq also partnered with CME Group to launch cryptocurrency index futures tracking a basket of seven digital assets, including Bitcoin, Ether, Solana and XRP, expanding its regulated crypto derivatives lineup.Other exchange operators have pursued similar initiatives. ICE, the parent company of the New York Stock Exchange, partnered with crypto exchange OKX in May to launch perpetual futures tied to its Brent crude and West Texas Intermediate oil benchmarks, marking the first product announced under the companies’ broader partnership.Source: OKXLater, ICE CEO Jeffrey Sprecher called on regulators to allow traditional exchanges to offer 24/7 onchain perpetual futures, arguing regulated venues should be able to compete with crypto-native platforms already offering the products.Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves

Business use of stablecoins is poised to surge in the next 12 months as adoption of the digital currency goes mainstream, according to a new report from payments infrastructure firm Cybrid. The report found 42% of businesses surveyed are already using stablecoins for cross-border payments and 88% of respondents said they are likely or very likely to use stablecoins within the next 12 months. Still, only 2% identified as committed users of traditional payment rails.Businesses using stablecoins reported average cross-border payment cost savings of 35%, with companies processing more than $100 million in monthly payment volume reporting average savings of up to 47%, according to the survey.Source: Cybrid reportThe global stablecoin market cap is now at $307.64 billion, led by Tether’s USDT, at $184.7 billion, and Circle’s USDC, at $73.51 billion, Coingecko data shows. Fueled by recent legislation, GENIUS Act-compliant stablecoins have reached a market cap of more than $76 billion. That established the first federal regulatory framework for payment stablecoins in the United States. The report is based on a survey of 468 executives and business leaders conducted between April 28 and May 4. Varied users look for regulatory clarity to gain confidencePayroll and contractor payments were the most common stablecoin use case among respondents, followed by supplier payments, customer payments, investment and yield generation, vendor payments, and treasury and liquidity management.Regulatory clarity was also a top factor respondents said would increase their confidence in expanding stablecoin use, with 71% identifying it as more important than trusted infrastructure providers or integration with existing systems.Respondents came from the technology, financial services and ecommerce sectors in the United States, Canada and the United Kingdom, including C-suite executives, finance and treasury managers, and payments and operations leaders.Related: Breez launches Bitcoin-to-stablecoin payments across more than 30 blockchainsCompanies expand infrastructure for stablecoin paymentsSeparate industry data points to the same trend. In June, payments infrastructure provider Paybis said business customers accounted for nearly 98% of stablecoin payout volume processed through its platform during the first four months of 2026, up from 36% in 2023.Paybis also cited McKinsey research estimating that business-to-business transactions accounted for roughly 60% of the $390 billion in global stablecoin payment volume recorded in 2025.Companies have continued expanding infrastructure to support growing business demand. In May, Falcon Finance debuted the dollar-backed stablecoin fUSD through Anchorage Digital Bank’s federally regulated issuance platform, targeting institutional trading, collateral and treasury workflows.On Monday, BNY expanded its digital asset custody platform to support Circle’s USDC, allowing institutional clients to store, transfer, mint and redeem the stablecoin directly through the bank.Source: DefiLlama Magazine: AI is banking the unbanked in Africa… faster than crypto

Theo, an onchain capital markets platform, has invested $20 million in Fidelity International’s USD Digital Liquidity Fund (FILQ). Theo said the investment makes it the first crypto-native platform to allocate capital to the asset manager’s tokenized fund.Executed through Sygnum, a Swiss digital asset bank that provides regulated banking, custody and tokenization services for institutional clients, the allocation adds FILQ to Theo’s institutional tokenized Treasury product, thBILL.FILQ is a Moody’s Aaa-mf-rated tokenized US dollar liquidity fund built on Sygnum’s Desygnate platform that invests in diversified short-term money market instruments designed to preserve capital and liquidity. Chainlink provides onchain net asset value and distribution data for the fund through its Runtime Environment, while JPMorgan receives and approves the daily NAV data, according to the release.Fidelity International managed $1.06 trillion in total assets as of March 31, according to the company, while Theo said its products have processed more than $1 billion in cumulative trading volume across more than 80,000 users in over 60 countries.RWA.xyz data shows FILQ currently manages about $55.1 million in onchain assets, suggesting Theo’s $20 million allocation represents a significant share of the fund.Source: RWA.xzy Related: Franklin Templeton launches dedicated crypto division after closing 250 Digital acquisitionTraditional asset managers expand tokenized fund offeringsTokenized US Treasury products have become the largest segment of the tokenized real-world asset market. According to RWA.xyz, the sector has more than doubled over the past year, growing from about $6.9 billion in distributed value in late June 2025 to approximately $14.6 billion as of late June 2026.RWA.xyz tracks 83 tokenized Treasury products held by more than 64,000 investors, with offerings from Circle, BlackRock, Ondo, Franklin Templeton and Securitize each managing more than $2 billion in distributed value.Tokenized US Treasuries. Source: RWA.xyzThe market’s growth has been accompanied by new fund launches and distribution partnerships from traditional financial firms. In May, JPMorgan launched JLTXX, a tokenized government money market fund on Ethereum (ETH) that invests in US Treasury bills and overnight repurchase agreements.The following month, Franklin Templeton partnered with MoonPay to expand institutional access to its BENJI tokenized money market fund, allowing eligible institutions to move between supported stablecoins and tokenized fund exposure through an onchain trading workflow.Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves