Atomic Settlement
US banking regulators clarify that tokenized securities follow traditional capital rules, while Canada completes its first wholesale CBDC bond settlement and more!
Market Moves
Canada pilots digital bond with wholesale CBDC settlement
Bank of Canada completed its first tokenized bond issuance using wholesale CBDC settlement, with Export Development Canada issuing a C$100 million bond arranged by RBC Capital Markets. This marks a significant milestone in central bank money settlement for digital securities.
https://www.ledgerinsights.com/canada-pilots-digital-bond-with-wholesale-cbdc-settlement
Crypto Biz: Kraken plugs into the Fed
Kraken secured Federal Reserve payment system access while NYSE’s parent company invested in crypto exchange OKX at a $25 billion valuation, signaling institutional infrastructure expansion. The moves highlight traditional finance’s growing engagement with digital asset platforms.
https://cointelegraph.com/news/kraken-fed-access-mara-bitcoin-nyse-tokenization
SoFi’s stablecoin joins Mastercard’s network
SoFi integrated its bank-issued stablecoin SoFiUSD with Mastercard’s global payments network, enabling real-time settlement across the card network. This represents a significant step toward mainstream stablecoin payment infrastructure adoption.
https://www.paymentsdive.com/news/sofis-stablecoin-joins-mastercards-network/813859
Regulation & Policy
Agencies clarify the capital treatment of tokenized securities
Federal Reserve, FDIC, and OCC jointly clarified that tokenized securities are subject to the same capital treatment as traditional securities, removing regulatory uncertainty for banks. The guidance confirms tokenized assets qualify as financial collateral under existing capital rules.
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20260305a.htm
SEC Ends Case Against Crypto Billionaire Justin Sun
SEC settled its enforcement case against crypto entrepreneur Justin Sun for $10 million, ending a high-profile lawsuit as the regulator continues resolving digital asset cases. The settlement reflects the SEC’s approach to closing Biden-era crypto enforcement actions.
Russia plots stablecoin bill to capitalise on ‘colossal potential’
Russia is drafting comprehensive stablecoin legislation to capitalize on cross-border payment opportunities, with the Finance Ministry eyeing separate digital asset frameworks. The move positions Russia to potentially outpace U.S. stablecoin regulatory development.
Tokenized Money
India, UAE Explore e-Rupee-Digital Dirham Bridge To Speed Up Remittances From Major 19.2% Corridor
India and UAE are exploring a digital currency bridge connecting the e-Rupee and digital dirham to enable instant cross-border remittances in the major 19.2% corridor. The initiative could significantly reduce settlement times and costs for bilateral trade payments.
Kazakhstan central bank to invest $350 million worth of gold, forex reserves into digital assets
Kazakhstan’s central bank announced plans to invest $350 million from gold and foreign exchange reserves into digital assets, marking a significant sovereign adoption of digital currencies. The move represents one of the largest central bank digital asset allocations to date.
Tether invests in Utexo, a startup enabling USDT settlement on Bitcoin
Tether invested in Utexo, a startup developing Bitcoin-native USDT settlement infrastructure, as part of a $7.5 million funding round. The investment aims to enable direct USDT transactions on the Bitcoin blockchain without requiring secondary layers.
Western Union, Crossmint partner for rollout of USDPT stablecoin
Western Union partnered with Crossmint to launch USDPT stablecoin on Solana for cross-border payments, leveraging the blockchain’s high-speed settlement capabilities. The partnership expands Western Union’s digital payment options beyond traditional money transfer methods.
https://finance.yahoo.com/news/western-union-crossmint-partner-rollout-163553882.html