The companies say the pilot will test a blockchain infrastructure aimed at automating the distribution, settlement and management of tokenized products in Hong Kong. Chainlink, a blockchain oracle provider, and UBS, a $5.9 trillion asset manager, have partnered with DigiFT for a pilot study to automate real-world tokenization funds. This feature could eliminate manual errors, according to the companies. If successful, the study could have implications for RWA tokenization in Hong Kong, a special administrative region of China. According to the announcement, the three groups are “developing a regulated blockchain-based infrastructure designed to automate and streamline the distribution, settlement, and lifecycle management of tokenized products [...].” Read more
Ether price is pinned below $5,000, but heavy accumulation and record institutional flows set the stage for a potential $6,800 target in Q4. Key takeaways: Roughly 1.7 million ETH ($7.5 billion) were accumulated in the $4,300 to $4,400 range, creating strong support. Institutional demand surges as CME open interest hits all-time highs with short-term maturities dominating. Read more
Prediction markets now overwhelmingly favor Native Markets, but questions about credibility linger as the vote approaches. Ethena, the team behind the USDe synthetic dollar protocol, withdrew its bid to issue Hyperliquid’s USDH stablecoin, conceding to concerns raised in direct discussions with community members and validators. In a X statement Thursday, the Ethena team acknowledged pushback over not being a Hyperliquid-native project and said it would step aside, congratulating rival Native Markets, now viewed as the frontrunner in the race. “While some are complaining about their [Native Markets] lack of credibility I think their success here perfectly embodies everything which is so special about Hyperliquid and their community,” wrote Ethena Labs founder Guy Young, adding: Read more