The Strategy & Architecture partner for digital assets and AI.

The Central Bank of Ireland approved Schroders' SOAR share class, a tokenised money market fund built on J.P. Morgan's Kinexys platform. It is the first time Kinexys has carried a third-party active manager's fund rather than a J.P. Morgan product, cleared through an EU regulator instead of the SEC or OCC.

On the second anniversary of its own MiCA authorization, Circle disclosed that only 3 of the world's top 50 stablecoins are MiCA-compliant, and publicly pushed the European Commission's live review toward a third-country equivalence mechanism that would ease its own competitors into the EU market.

The Finland-based euro clearing business behind the raise is real and revenue-generating. The dollar clearing business the valuation is priced on is not: the OCC charter is conditional, not final, there is no disclosed Federal Reserve master account, and this is the eighth such conditional approval since 2010, not a first.

BNY moved Treasury-backed reserves tied to Ripple's RLUSD and OpenEden's USDO after Fedwire Securities Service's daily close. Both issuers already custody with BNY, which is why the test worked without a third bank involved, and BNY is targeting always-on Treasury settlement in 2027.

Keeta Stablecoins move natively across Keeta Network, Ethereum, Solana and Base via LayerZero's Omnichain Fungible Token standard. The backing runs through Bivo, a money transmitter, not a chartered bank, and no partner bank, deposit insurance status, or redemption terms are disclosed.

Countries requiring approval for residents to hold foreign-currency bank accounts show dollarization ratios 25 to 32 percentage points lower than countries without that rule. Dollar-stablecoin inflows across the same 184 countries show no comparable gap, the capital-control lever that restrains deposit dollarization does not reach the stablecoin channel.