As of 2024, at least one-third of commercial banks were exploring or piloting tokenized deposits, according to a survey by the Bank for International Settlements. Leading financial institutions are continuing to explore blockchain technology to facilitate cheaper and faster institutional payments, signaling a growing interest in tokenization solutions. US investment bank JPMorgan and Singapore multinational banking group DBS announced Tuesday that they are developing a blockchain-based tokenization framework to enable onchain transfers between their deposit token ecosystems. The effort aims to set a new industry standard for cross-bank digital payments. The tokenization framework will allow the two financial institutions to facilitate instant payments around the clock, across both public and permissioned blockchain networks, providing their institutional clients with broader access to cross-bank onchain transactions. Read more
Argentina’s order against Hayden Davis marks the latest move in the $250 million Libra fraud probe now spanning courts in Buenos Aires and New York. Argentina’s federal judiciary ordered a freeze of assets belonging to US promoter Hayden Davis and two alleged intermediaries tied to the collapsed Libra token, deepening an investigation into one of Latin America’s biggest crypto scandals. The order, issued by Judge Marcelo Martínez de Giorgi, reportedly covers digital wallets, bank accounts and real-estate assets of Davis, Argentine operator Orlando Rodolfo Mellino and Colombian trader Favio Camilo Rodríguez Blanco. Prosecutors said the asset freeze was necessary to prevent any transfer of assets that could represent the proceeds of fraud, as investigators work to trace a money trail estimated to be $100 million to $120 million. Read more
Crypto wallets have evolved beyond asset storage into portable identity containers and self-custodial hubs, using zero-knowledge proofs. Opinion by: Eowyn Chen, CEO of Trust Wallet The world is changing. Fundamentals that are often taken for granted in the physical world are now becoming unified as the digital age begins. Identity, payments and access are now converging into one single location: a digital wallet. Wallets are becoming the bedrock layer for access to the modern digital world, just as a passport unlocks physical movement across the globe. Read more
XRP’s technical and onchain signals hint at a major breakout, with bulls eyeing a significant rally toward $5 by the year’s end. Key takeaways: XRP’s cup-and-handle breakout setup points to a potential rally toward $5 by year’s end. Onchain data mirrors June’s 75% surge amid rising ETF optimism. Read more
Transak’s latest licenses highlight the continued fragmentation of US state licensing as stablecoin payment firms push for nationwide access. Stablecoin payment company Transak has secured new state Money Transmitter Licenses (MTLs) in Iowa, Kansas, Michigan, South Carolina, Vermont and Pennsylvania, expanding its US footprint as regulatory fragmentation continues to define how crypto payment companies operate across the country, according to a Tuesday announcement shared with Cointelegraph. The approvals bring Transak’s total to 11 licensed states, including Arkansas, Delaware, Illinois and Missouri. Each license allows the company to legally process stablecoin transactions, transmit funds, and facilitate fiat-to-crypto conversions directly with users, without relying on intermediaries. In the US, MTLs allow companies to handle customer funds, execute value transfers and operate as regulated financial intermediaries under state supervision. Read more
Ethereum investors are back in profit, increasing the chance for a rally to $4,000, but resistance at $3,800 may delay recovery. Key takeaways: Ethereum holders are back in the black, increasing the chances of a rally to $4,000. Ether sell pressure risk exists around $3,800, a resistance level that may delay the bulls. Read more
Bitcoin ETF inflows and Strategy’s BTC acquisitions have been the main vehicles fueling Bitcoin’s momentum this year, according to market analysts. Update Nov. 11, 12:08 p.m. UTC: This article has been updated to include a paragraph on Ether and Solana ETF inflows. The lack of demand for spot Bitcoin exchange-traded funds (ETFs) is raising concerns about Bitcoin’s prospects for the rest of the year, even as the US government appears to be nearing the end of its 41-day shutdown. On Monday, the US Senate approved a funding package, bringing Congress one step closer to ending the shutdown. Legislation is now headed for a full vote in the House of Representatives, which may occur as early as Wednesday, CBS News reported on Monday. Read more