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JPMorgan's Deposit Tokens, Ripple's Regulatory Turn, Visa's Solana Move, and More
JPMorgan is diving deeper into the blockchain sphere with its newly developed deposit token system, aimed to facilitate faster settlements between banks for corporate clients. Unlike the already existing JPM Coin, this deposit token will enable transactions with other banks and offers versatile options for blockchain-based settlements, including tokenized securities trading.
The recent federal court ruling favoring Ripple’s XRP token has CTO David Schwartz optimistic about a changing tide in U.S. cryptocurrency regulation. He believes that the ruling may also benefit other cases and pending ETF applications, leading to a more crypto-friendly legal environment.
Visa is extending its stablecoin offerings by incorporating USDC payments settled on the Solana blockchain. This move aims to accelerate cross-border settlements and bridge traditional financial systems with blockchain technologies. Visa's integration now involves multiple partners and extends across both Ethereum and Solana blockchains.
The growing excitement around the tokenization of real-world assets (RWAs) is evident, with the industry viewing this as the next trillion-dollar opportunity. We summarize the top news and trends in this space, where everything from art and gold to contracts and U.S. Treasuries are being tokenized.
In line with the growing trend of asset tokenization, industry giants like Coinbase and Circle have formed a Tokenized Asset Coalition. This new advocacy group aims to educate, advocate, and foster the adoption of asset tokenization and institutional decentralized finance (DeFi), promising to bring the next trillion dollars of traditional financial assets into the blockchain space.
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