ECB launches Pontes to settle tokenized assets without stablecoins
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IMF: The future of tokenization depends on policy choices; stablecoins and two other types of settlement assets may coexist.
According to Odaily Odaily, Tobias Adrian, Director of the Monetary and Capital Markets Department at the International Monetary Fund (IMF), stated that as assets migrate to shared digital ledgers, policy choices regarding the monetary system, market infrastructure, and legal framework will determine whether tokenization will enhance the integration of the financial system or lead to further fragmentation. The tokenized economy is giving rise to three types of settlement assets: tokenized bank deposits, stablecoins, and tokenized central bank reserves. Tokenization is not merely about faster payments or programmable assets; it's about migrating financial assets and liabilities to a unified ledger, compressing execution, clearing, and settlement into software-driven, synchronous processes. This shift may also transfer risk from the balance sheets of traditional intermediaries to platform, code, and infrastructure providers. (The Block)
Citadel Securities and DTCC partner as omnichain interoperability protocol LayerZero launches a new exchange, expanding institutional market infrastructure for digital assets.
BWENEWS AI: Citadel Securities and DTCC partner as omnichain interoperability protocol LayerZero launches a new exchange, expanding institutional market infrastructure for digital assets.
Flutterwave receives investment from Circle Ventures to expand its USDC payment and settlement business in Africa.
According to Foresight News , African fintech company Flutterwave announced it has received investment from Circle Ventures, with the specific investment amount undisclosed. This investment aims to expand Flutterwave's USDC payment and settlement business in Africa. Flutterwave stated that stablecoins are becoming core financial infrastructure, and the company is committed to building faster and more flexible cross-border fund transfer methods to help businesses achieve cash flow. According to a previous report by Foresight News , Ripple acquired a stake in African fintech company Flutterwave in June of this year for a valuation of $3.3 billion.
Asset management giant Vanguard is hiring its first head of digital assets to evaluate strategies including tokenization and stablecoins.
PANews reported on July 8th that, according to Bitcoin Magazine, Vanguard, the world's second-largest asset manager (with approximately $12 trillion in assets under management), has created its first-ever Head of Digital Assets position, responsible for developing the company's long-term crypto and blockchain strategy. This role will evaluate areas such as tokenization, stablecoins, digital wallets, custody, and blockchain settlement, and determine whether Vanguard should build its own capabilities, partner with external entities, or postpone entry into certain markets. The position will involve developing multi-year roadmaps and designing governance and risk frameworks. Vanguard stated that this hiring does not indicate an upcoming launch of crypto products and that it currently has no plans to issue its own crypto investment vehicles.
WisdomTree, MoonPay team up to expand US access to tokenized money market fund
MoonPay plans to use WisdomTree’s $1.2 billion WTGXX tokenized fund as part of its stablecoin reserves while helping expand access to US investors.
Bitwise launches self-custodied tokenized stock portfolios with Coinbase
Bitwise’s new portfolios automatically rebalance Coinbase tokenized stocks while allowing eligible non-US investors to keep the assets in their own wallets.