The SEC Considers Tokenized Stock Trading Rules

The US Securities and Exchange Commission is drafting rules to permit blockchain-registered stock tokens on cryptocurrency exchanges, The Information reported. The initiative, still early, would allow investors to trade digital representations of public company shares directly on approved crypto platforms.

Chair Paul Atkins called tokenization an innovation regulators should advance, stressing its potential to reduce costs and expand access to markets. Nasdaq, Coinbase, Robinhood, and Kraken have each filed or prepared applications to list tokenized equities under forthcoming SEC frameworks.

Industry data shows over $31 billion in assets tokenized, though equities remain just 2% of that figure despite recent acceleration. The value of tokenized stocks nearly doubled in the past 100 days, highlighting growing institutional appetite for blockchain-based equities.

Citadel Securities warned in July that tokenization must deliver genuine market benefits rather than exploit regulatory gaps. Binance Research projected tokenized equities could reach $1.3 trillion if only 1% of global equity markets migrate onchain.

Analyst Sees 100% Approval Odds for Several Altcoin ETFs

Bloomberg’s Eric Balchunas said Litecoin, Solana, and XRP ETFs have guaranteed approval under the SEC’s new standards. He explained generic listing rules nullify prior 19b-4 deadlines, leaving only S-1 filings awaiting formal clearance. Balchunas noted amended forms for Solana already arrived, suggesting approvals could occur anytime once reviews are finalized.

The SEC accelerated ETF listing rules this month, reducing timelines from 240 days to as few as 75. Nasdaq, NYSE Arca, and Cboe can now list crypto ETFs meeting the generic criteria without filing additional paperwork. Analysts forecast more than one hundred new ETFs within twelve months, reflecting surging institutional demand for altcoins.

Kazakhstan Launches Alem Crypto Fund With BNB

Kazakhstan announced a state-backed crypto reserve fund, Alem Crypto Fund, seeded with BNB purchased via Binance Kazakhstan. Managed by Qazaqstan Venture Group under the Astana International Financial Centre, the fund will build long-term digital asset reserves. Officials said its mandate is to strengthen national strategy by diversifying holdings into blockchain-based instruments.

Kazakhstan previously launched a tenge-backed stablecoin and continues exploring a broader crypto ecosystem, including payment pilots in CryptoCity. President Tokayev urged regulators to draft frameworks supporting strategic reserves, following years of mining dominance and unlicensed exchange closures. Observers said the Alem fund mirrors El Salvador’s precedent, with governments increasingly considering digital assets as treasury holdings.

Visa Pilots Stablecoin Payments for Businesses

Visa launched a pilot program enabling businesses to fund Visa Direct with stablecoins for cross-border settlements. Companies can pre-fund stablecoin balances instead of fiat, unlocking real-time liquidity and reducing capital tied up in advance. Visa said Circle’s USDC and EURC are initial assets, with more potentially added as demand develops.

Executives said the system will reduce settlement windows from days to minutes while still paying recipients in local currencies. Visa emphasized stablecoin adoption is expanding after US regulation provided legal clarity, creating trillion-dollar potential markets. Analysts said the pilot reinforces stablecoins’ role in remittances and treasury management, while Visa deepens integration with blockchain payments.

Data of the Day

Onchain data showed Tether received 8,888 BTC worth $1 billion into its designated Bitcoin reserve wallet. Funds originated from a Bitfinex hot wallet, raising questions about whether coins were newly purchased or reallocated holdings. Analysts noted the address historically received Tether’s quarterly Bitcoin acquisitions, consistent with its diversification strategy announced in 2023.

If confirmed, Tether’s total Bitcoin reserves now approach 109,410 BTC, worth $12.4 billion at prevailing prices. The stablecoin issuer has committed fifteen percent of profits each quarter toward BTC, cementing itself among top corporate holders. CEO Paolo Ardoino responded positively online, hinting at fresh accumulation while positioning Tether as a dominant institutional player.

More Breaking News

• A Chinese national pleaded guilty in the UK to a $7 billion Bitcoin fraud scheme, with authorities seizing 61,000 BTC between 2018 and 2021.
• Deutsche Börse partnered with Circle to integrate USDC and EURC stablecoins into European market infrastructure, listing them on 3DX and enabling custody through Clearstream.
• Robinhood stock hit a record high after reports it may expand prediction markets abroad, discussing potential UK expansion with the Financial Conduct Authority.
• LayerZero and BOB launched a gateway connecting native Bitcoin to wrapped BTC across 11 blockchains, unlocking liquidity for nearly 15,000 decentralized apps.
• Indonesia’s Universitas Gadjah Mada will issue on-chain course records for 60,000 students via Space and Time, offering free verifiable digital credentials worldwide.
• Turkey is drafting a bill empowering Masak to freeze crypto accounts in line with FATF AML standards, targeting rented accounts and illicit flows.
• Polkadot participants are voting on pUSD, an algorithmic stablecoin fully collateralized by DOT, with strong early support despite controversies around TerraUSD’s collapse.

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