Behind the scenes, US banks are rebuilding core financial infrastructure so cash, custody and funds can move onchain under regulatory oversight. US banks are prioritizing tokenized versions of familiar products, including deposits, funds and custody, rather than launching new crypto-native assets. Most onchain bank activity is taking place in wholesale payments, settlement and infrastructure, largely out of public view. Regulators are increasingly allowing crypto-related banking activities, but only within tightly supervised and risk-managed frameworks. Read more
From niche experiment to $7 billion market, tokenized US Treasurys are quietly becoming a major driver of institutional onchain yield. Tokenized US Treasurys have emerged as one of the fastest-growing segments of the real-world asset (RWA) market, with data pointing to 50x growth in less than two years amid rising institutional demand for on-chain yield. Data from Token Terminal shows that the combined market capitalization of tokenized US Treasury products has exploded from well under $200 million in January 2024 to almost $7 billion in late 2025. The growth underscores the rapid acceleration of onchain adoption for government-backed debt instruments. At the center of this expansion is BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which is widely regarded as the flagship product of the tokenized Treasury market. Read more
Bitcoin and select altcoins are attempting to start a recovery, but higher levels are expected to attract strong selling by the bears. Key points: Bitcoin is attempting to start a recovery, but higher levels are likely to attract sellers. The weak bounce in several altcoins shows that the bears continue to exert pressure. Read more
The move by the traditional banking giant would represent a significant deepening of ties to the crypto industry and change in CEO Jamie Dimon’s approach to digital assets. Banking giant JPMorgan Chase is considering offering cryptocurrency trading to its institutional clients, marking a significant expansion for a traditional financial institution expanding its digital asset services. According to a Monday Bloomberg report citing a person familiar with the plans, JPMorgan Chase is assessing products and services in its markets division as part of a potential expansion into cryptocurrencies. The company’s plans were not public at the time of publication, but could include digital asset spot and derivatives trading. The crypto trading services are in the early stages of development, in response to interest from the company’s clients amid the changing regulatory environment in the United States. The government under US President Donald Trump has enacted several policies favoring the crypto industry since Januar...