Standard Chartered, a major multinational bank headquartered in London, announced on Thursday that it has launched spot Bitcoin trading for institutional clients in the United Arab Emirates (UAE). This new service marks the first time an international bank has offered such trading to institutional investors in the country.

First global bank to offer crypto spot trading in UAE
Standard Chartered revealed that only eligible institutional clients would have access to the spot Bitcoin trading service. The bank stated it is the first global systemically important bank to introduce this offering in the UAE, providing clients with direct exposure to Bitcoin’s spot price movements within a regulated framework.

Earlier in 2024, the bank began offering digital asset custody services in the UAE. This expansion into spot crypto trading in the region preceded the launch of similar services in other countries, highlighting the UAE as a priority market for the bank’s digital asset business.

The UAE has developed a clear digital assets regulatory framework that supports institutional participation and innovation, according to Rola Abu Manneh, Chief Executive Officer for UAE, Middle East and Pakistan at Standard Chartered.

She emphasized that the bank’s approach allows clients to benefit from “execution with secure custody, governance and the connectivity of a global bank,” providing a more integrated way to engage with digital asset markets.

Standard Chartered’s crypto strategy and expansion
In 2025, Standard Chartered established a trading desk for Bitcoin and other cryptocurrencies in London, integrating crypto trading into its broader foreign exchange operation. This move made Standard Chartered one of the first leading financial institutions to actively engage in spot cryptocurrency trading alongside traditional asset classes.

That same year, the bank launched Libeara, a blockchain unit focused on helping institutions tokenize conventional assets, further expanding its presence in the digital assets sector.

Standard Chartered has consistently advanced its crypto services, citing the growing demand among institutional clients and progressive regulatory developments in key jurisdictions like the UAE.

Solana is trading near the key $100 level following a sharp late-August rally, which pushed the asset above several technical resistance zones. The recent surge renewed interest in whether buyers can maintain momentum and hold above previous resistance to support a further price increase.

Solana’s $98-$100 Range Becomes Focal Point
Technical analysis highlights $98-$100 as a critical area for the short-term direction of Solana. A recent breakout propelled SOL above this previously contested price band, but analysts emphasize that this zone now needs to function as support to sustain the asset’s upward trajectory.

Gordon, a market chartist active on X, identified $117 as the next primary resistance should SOL succeed in holding above $98. His analysis notes that $117-$118 previously served as support before Solana’s sharp price fall in February and now presents the first significant upside target in the current recovery.

Gordon’s outlook suggests that, “A return toward $98 could provide the retest needed before SOL challenges $117.”

The technical structure underlines the importance of turning former resistance into support. If Solana maintains price action above $98, it could reinforce the trend, allowing the asset to approach interim levels at $104-$110 before potentially testing the $117 barrier.

However, should SOL fall below $98, this would weaken the bullish structure and likely invalidate the immediate push toward $117, instead opening up a higher likelihood of deeper price consolidation.

On Wednesday, Solana traded close to $100, with session ranges between $98.45 and $104.36, according to data compiled by Investing.com.

Macro Downtrend Break Offers Broader Optimism
A second, longer-term charting perspective indicates Solana has broken above its descending trendline, which has limited recovery attempts since previous peaks near $250. This break may signal a larger market structure reversal and suggests room for a more sustained upside if major support levels hold.

Wealthmanager, another analyst posting on X, labels Solana’s move through approximately $98 as a market structure shift, indicating a potential end to the persistent bearish trend. In technical parlance, a market structure shift (MSS) signals an underlying change in trend direction.

The analysis does not expect immediate steep gains and instead projects a period of volatility, with the possibility of price visiting the $80-$85 area—a zone identified as deeper structural support—before any renewed bid for higher levels.

Should this lower support area hold, the projections extend to a gradual recovery toward $120-$145, and, in favorable conditions, an eventual approach to the $180-$250 range, though these higher levels remain theoretical for now.

For market participants tracking trend reversals, the $98-$100 confirmation zone and the $80-$85 support region are likely to be closely monitored as critical structural reference points in the coming weeks.

Mini dictionary: Market structure shift (MSS): In technical analysis, this refers to a significant break in a trend-defining price pattern, often indicating the potential start of a new trend direction.

Network Developments and Broader Market Conditions
Macro factors remain a headwind for digital assets, including Solana. A stronger U.S. dollar, higher Treasury yields, and regional geopolitical uncertainty have all contributed to a less favorable risk environment, with major cryptocurrencies like Bitcoin and Ether also experiencing selling pressure this week.
In parallel, Solana’s network is preparing for potential upgrades later in the month. Anza, a key Solana development team, has set a tentative schedule for the Agave v4.3 rollout, including general mainnet adoption as soon as September 21 and planned mainnet-beta features for the Alpenglow upgrade from September 28. Both dates are subject to adjustment.

Based on these technical and fundamental signals, the $98-$100 price range remains the primary area of interest for Solana in the near term. A successful defense could pave the way to $117, while a breakdown would likely signal a broader retest before any renewed rally attempt.

A group of 21 financial institutions, including Bank of America, Citi, Goldman Sachs and UBS, plans to form a company that will issue stablecoins for payments and digital asset transactions, it said Tuesday.

The company, which is yet to be named, is expected to be established in the second half of the year, subject to closing conditions, the group said in a press release.

The venture plans to start with a U.S. dollar-denominated stablecoin and bring the product to market in the first half of 2027. It aims to add stablecoins tied to other Group of Seven currencies later, with a euro-denominated token being a priority.

The project grew from an initiative announced in October 2025, when 10 banks said they were exploring a digital payment asset backed one-for-one by reserves and available on public blockchains.

Participants now span North America, Europe, East Asia, the Middle East and Africa. They include Wells Fargo, Deutsche Bank, Santander, Fidelity Investments, MUFG Bank and Standard Bank, alongside other banks and investment firms, the press release said.

It comes as the stablecoin market continues to accelerate. The overall market capitalization of this sector of the crypto industry rose from around $200 billion at the beginning of last year to around $303 billion as of press time, according to DeFiLlama data.

The lion’s share of the market is in the form of U.S.-dollar backed stablecoins, with Tether’s USDT accounting for 60% of the total. USDC, the second-largest competitor, commands more than 20% of the total.

The group said it intends to meet requirements under the U.S. GENIUS Act and the European Union's Markets in Crypto-Assets framework.

Strive, an asset management firm based in Dallas and traded on NASDAQ as ASST, has advanced to the fifth position among publicly listed corporate Bitcoin holders. After acquiring 1,800 BTC last week, Strive’s total Bitcoin holdings increased to 23,156 BTC, valued at approximately $1.8 billion as of August 31. This accumulation allowed the firm to overtake Bullish, an exchange operator recently listed on the New York Stock Exchange under BLSH.

Move up the corporate Bitcoin rankings
Prior to this recent purchase, Strive held 21,356 BTC as of August 24. Meanwhile, Bullish, which had reduced its exposure by selling 1,700 BTC at the end of June, held 22,000 BTC during the same period.

Both companies remain behind MARA Holdings, which holds 35,577 BTC, and far below Strategy, Michael Saylor’s firm, which currently owns 845,050 BTC following a new token acquisition in June. These positions reflect the rapid changes among the largest institutional Bitcoin holders as public companies increasingly participate in the market.

Funding expansion through equity and preferred shares
Strive has primarily financed its Bitcoin purchases by issuing both common stock (ASST) and preferred stock (SATA). The firm’s SATA security, which pays a 13% annualized dividend distributed every business day, has played a central role in this strategy. CEO Matt Cole described SATA as a unique instrument in US markets, noting that it supports most of the company’s buying activity when it trades near its $100 par value.

The most recent weekly purchase of 1,800 BTC followed a previous acquisition costing $81.5 million for 1,110 BTC between August 17 and 21. Over the same period, Strive’s cash reserves climbed to $171.9 million, aided by $17.1 million in proceeds from at-the-market sales of both common and preferred shares.

Strive entered the list of major corporate Bitcoin holders after merging with Asset Entities in September 2025. Its expansion continued with an all-stock purchase of Semler Scientific, a medical device firm, in January 2026.

Mini dictionary: Bullish is a digital asset exchange operator that became publicly listed following its $1.1 billion initial public offering in August 2025. Led by Tom Farley, former president of the New York Stock Exchange, Bullish has positioned itself as a treasury-focused firm within the digital assets sector.

Profit swings and strategy outlook
Strive continued aggressive Bitcoin purchases even after reporting a net loss of $257.6 million for the quarter ending June 30, as disclosed on August 10. The company attributed 94% of that loss to declines in Bitcoin’s price and its stake in Strategy’s preferred shares.
The Semler Scientific medical device division, acquired earlier this year, showed strong performance with a near doubling of revenue year-over-year, reaching $2.94 million.

Despite volatility, CEO Matt Cole assured investors that Strive maintains a debt-free balance sheet, with no margin requirements and its entire Bitcoin position unencumbered.

Even after a challenging quarter and substantial price volatility, Strive’s leadership emphasized that the company remains debt-free with no margin calls and all Bitcoin assets fully owned, citing preparedness for industry swings.

Ethereum rejected the $2,550 area after climbing from Aug. 21 lows, putting ETH support and resistance levels under focus. Income Sharks discussed consolidation and possible moves toward $3,000, while Ted highlighted $2,550 resistance. Meanwhile, Arkham reported BlackRock’s ETHA bought $1.02 billion of ETH over nine days.

ETH Rejection Puts $2,550 Resistance in Focus
Income Sharks said traders often lose more during consolidation than downtrends because they overtrade sideways markets. The analyst said waiting can be preferable during such periods. According to Income Sharks, ETH has a similar setup to its previous move if this decline marks a bottom.

The analyst said consolidation could build a new base. However, Income Sharks said ETH could also accelerate directly toward $3,000. The analyst added that market chopping can cause traders to close long positions before another move higher.
Ted said ETH faced rejection from the $2,550 resistance zone. According to Ted, a weekly close above $2,550 could push Ethereum toward $3,000. However, continued rejection from that zone could send ETH toward $2,000-$2,100, Ted said. Therefore, $2,550 remains the key level in Ted’s outlined scenarios.

Ethereum Pulls Back Toward $2,400 Support
The chart shows ETH rising from roughly $2,320-$2,360 on Aug. 21. ETH then reached approximately $2,520-$2,540 between Aug. 27 and Aug. 28. However, selling followed the rejection around $2,500-$2,520.

ETH dropped to approximately $2,405 before stabilizing around $2,435.36. The immediate support zone is between $2,400 and $2,420. A sustained break below $2,400 could expose $2,360 and potentially $2,320.

On the upside, ETH needs to reclaim $2,480 first. The $2,520-$2,540 range remains the major resistance region and recent swing high. Momentum indicators remained cautious. RSI stood at 39.06, while its moving average was around 37.73. Meanwhile, the MACD histogram stood at +0.64.

BlackRock’s ETHA Purchases Reach $1.02 Billion
Arkham reported that BlackRock’s clients purchased more than $1 billion of ETH through ETHA. The purchases occurred across nine days without any net-selling days. According to Arkham, ETHA purchased $1.02 billion worth of ETH during that period. Arkham estimated ETHA’s average purchase price at $3,060 per ETH.

Private company shares still trade through bilateral, paper-heavy processes that keep most investors out of venture-backed growth. Citi is now applying the depositary receipt model, long used to give investors access to foreign public equities, to that opaque market with a new Digital Depositary Receipt (DDR) product, according to an Aug. 25 announcement from Caplight, the pricing platform the bank selected for the offering.

How the DDR works
Caplight said the DDR product tokenizes private company shares for eligible investors, with Citi’s first receipt representing shares in Kaleido, Inc. The bank described itself as the first major institution to extend the depositary receipt model, which has facilitated cross-border access to public equities for decades, to private company shares, bringing institutional-grade custody and settlement to an asset class that has historically relied on manual, paper-based processes rather than a shared digital record.

The structure targets two long-running frictions in private markets: access and transparency in high-growth, venture-backed companies. Where depositary receipts let investors hold a claim on foreign public stock through a regulated intermediary, the DDR applies the same idea to shares that rarely change hands, combining Citi’s institutional reach with Caplight’s data infrastructure to give tokenized private securities a pricing and reporting mechanism that did not exist under the old bilateral model.

The pricing backbone
Caplight’s MarketPrice data feed will supply ongoing, independent pricing of the private securities underlying each DDR issuance, and will support transparent fee assessment and periodic custodial reporting of the program. The feed runs on the firm’s proprietary AI-driven pricing models, which synthesize real-time transaction data, market signals and fundamental data across more than 100,000 venture-backed companies.

“We’re proud to provide the independent pricing backbone for one of the most innovative products in private markets,” said Javier Avalos, Caplight’s chief executive and co-founder. He added that tokenized private securities let companies retain control over voting and a simplified cap table while broadening investor outreach.

What it signals
For Citi, the product is a step into tokenization of a traditionally opaque asset class rather than a public-market token, and Caplight’s pricing feed gives the receipts a valuation mechanism the old process lacked. The launch adds to the push to tokenize real-world assets that has gathered momentum among banks and asset managers this year.

Ripple has integrated Stablerail into its global payments infrastructure, with crypto researcher BankXRP stating that this development could reshape how financial institutions and businesses handle cross-border transactions.

Stablerail integration expands payment controls
BankXRP described Stablerail as a strategic operating layer that connects Ripple’s payment rails with advanced financial controls tailored for corporate clients and financial institutions. This integration is expected to enhance transparency and oversight for companies managing international payments.

According to the researcher, Stablerail facilitates approval policies, enforces transaction limits, and keeps auditable records, features finance teams often require to strengthen their payment processes. Stablerail’s platform also supports multiple financial functions, including fiat currencies, stablecoins, cards, treasury operations, and foreign exchange, bolstering its appeal for global businesses.

In addition, Stablerail has reportedly processed over $70 billion for financial institutions, underscoring its ability to settle cross-border transactions within seconds. Users can also view transaction costs upfront, allowing for greater predictability and control during international fund transfers.

BankXRP explained that the combination of Ripple’s existing settlement infrastructure and Stablerail’s financial control tools could provide businesses with both speed and precise oversight over cross-border payments.

Enhanced settlement and operational efficiency
Through this structure, Ripple supplies the underlying payment rail while Stablerail offers a management layer for transaction operations. BankXRP stated that this model caters to the demands of companies, which not only seek rapid settlements but also require robust policies and monitoring to comply with internal controls and regulatory standards.

The researcher indicated that by connecting with Ripple’s settlement capabilities, companies could manage approvals, set spending limits, and maintain comprehensive payment records more efficiently. This combination may significantly improve the experience of businesses conducting complex international transactions.

While the speed of settlement remains a priority, the inclusion of treasury and compliance tools at the operating layer addresses the growing need among global firms for reliable financial oversight. These capabilities can help organizations meet evolving reporting requirements and better manage liquidity across multiple currencies and digital assets.

Industry shift toward Web3 and real-world assets
In parallel with these technological advances, major financial markets are undergoing significant transformation. As traditional markets historically operated through complex intermediaries, a shift is underway: Wall Street is increasingly adopting Web3 solutions. Investors now use platforms such as 1stepSwap to hold tokenized real-world assets, including shares of top U.S. companies, gold, and silver, directly in their crypto wallets. By leveraging technologies that connect to the best market prices instantly and remove middlemen, these platforms further streamline access to both digital and traditional financial products.
The integration of Stablerail into Ripple’s global payments stack reflects an ongoing evolution in international financial infrastructure, where companies are demanding solutions that merge speed, transparency, and operational control.

Stablerail serves as an operating layer around Ripple’s settlement rail, enabling faster, more transparent, and better-managed cross-border payments for global businesses.

BankXRP concluded that combining tailored operational functionality with Ripple’s settlement network could help companies manage international payments more efficiently. This approach aligns with broader trends toward integrating traditional and digital financial systems, emphasizing security, traceability, and efficiency in cross-border transactions.

Litecoin has shown renewed bullish momentum following a significant breakout above the $47.63 resistance level, adding to optimism that the cryptocurrency could soon approach the $54 mark if buying strength persists.

Breakout Above Key Levels
LTC is currently trading at $52.31, reflecting a modest daily gain of 0.06%. The upward trajectory began after the coin rebounded from a previous support area at $43.88, then pushed decisively through the major $47.63 resistance point. This movement coincides with a clear uptick in derivatives activity, underlining market participants’ growing confidence.

On the daily chart from TradingView, Litecoin’s on-balance volume (OBV) has surged to 42.08 million, a signal indicating increased participation by buyers. The breakout above $47.63, which served as a strong resistance level during a prolonged consolidation phase, is now seen as a turning point for market sentiment.

Litecoin Foundation highlighted, “In Canada, there are no purchase limits for Canadians on Litecoin. Only 5 other cryptos have this freedom,” pointing to the asset’s widespread accessibility in the Canadian crypto ecosystem.

Analysts note that if Litecoin maintains its price above $47.63, the next resistance to watch is around $54. Conversely, a move back below this threshold could see the asset return to the previous support zone at $43.88.

Regulatory Landscape in Canada
The Litecoin Foundation, a nonprofit organization devoted to advancing Litecoin adoption and awareness, underscored the token’s particular regulatory advantage in Canada. Canadians can purchase Litecoin without restrictions, a level of access that only five other cryptocurrencies share in the country. For many other assets, regulations impose varying purchase limits depending on both province and investor status, ranging from $5,000 CAD for basic investors to $30,000 CAD for those classified as retail investors.

Mini dictionary: Litecoin Foundation, a nonprofit organization established in 2017, works to promote Litecoin adoption, development, and public awareness worldwide through educational, technical, and community initiatives.

This regulatory clarity and freedom position LTC as one of the more accessible digital assets in the Canadian market, potentially contributing to its upward price movement.

Market Dynamics and Technical Outlook
Recent figures from CoinGlass indicate that open interest in Litecoin derivatives has climbed near $370 million during the current price advance. Trading volume rose above $600 million during the last notable rally, while data from liquidation charts reveals a wave of short position liquidations following the breakout.

This combination of higher trading activity and forced buying from short sellers has reinforced the bullish setup for Litecoin, with technical data showing sustained upward pressure. The critical test for the current trend is whether LTC can preserve its hold above the $47.63 support, which would further solidify the positive trajectory toward $54.

The main takeaway is that the rally in Litecoin is being driven by increased trading volume, rising open interest, and ongoing short liquidations. However, holding support above $47.63 remains vital for continued momentum.

If the asset slips below this level, sentiment could turn more cautious, potentially leading to a retest of the $43.88 support zone. For now, analysts continue to watch these thresholds closely, noting that price action above $47.63 places buyers firmly in control.

JPMorgan Chase, the largest bank in the United States by total assets, is on the cusp of achieving a rare milestone. Its market capitalization reached approximately $970 billion in mid-August, bringing it close to becoming the first bank ever to attain a $1 trillion valuation.

JPMorgan advances digital asset initiatives
Beyond its record-setting market value, JPMorgan continues to innovate in the digital asset sector. Through its blockchain unit, Kinexys, the bank participated in a notable live transaction on the XRP Ledger in May. This event included companies such as Ondo Finance, Mastercard, and Ripple.
The collaboration led to a cross-border redemption of Ondo Finance’s tokenized U.S. Treasury fund, OUSG. The transaction demonstrated the capacity of blockchain technology to process the asset leg on the XRP Ledger in less than five seconds, even outside traditional banking hours.

However, JPMorgan has not shifted its core banking operations to the XRP Ledger, and XRP is not used as the bank’s primary settlement asset. The recent transaction instead reflects how institutional financial systems can interact with public blockchains while still relying on established payment and settlement infrastructure.

Mini dictionary: Ondo Finance is a decentralized finance platform focused on tokenizing real-world assets, including U.S. Treasuries, and enabling cross-border transactions using blockchain infrastructure.

Expanding tokenization beyond the XRP Ledger
JPMorgan’s digital asset strategy is not limited to XRPL. In July, the Depository Trust & Clearing Corporation (DTCC), a major US post-trade financial services company, announced the execution of real production trades in tokenized securities. During these trades, JPMorgan tokenized a part of its holdings in the Invesco QQQ Trust, as well as additional securities and financial assets.

These initiatives point to a broader transformation in which traditional financial instruments such as stocks and U.S. Treasuries are increasingly represented as digital tokens and settled using blockchain networks.

The May transaction highlighted the XRP Ledger’s ability to serve as the infrastructure for asset settlement in cross-border institutional workflows. Meanwhile, other entities in the process provided payment and related services. The technical capability for settlements outside standard banking hours shows the potential for global markets to operate continuously, without the restrictions of traditional banking schedules.

Participation by a bank nearing $1 trillion in value marks an important step for the adoption of blockchain in real-world financial transactions, especially as the market explores tokenized Treasuries and other assets.

A shift towards tokenized finance
As tokenized securities begin to play a greater role in global finance, many experts expect greater reliance on fast, public, and always-available ledgers. These platforms offer the infrastructure for continuous financial markets and frictionless settlement, making them increasingly relevant as financial institutions expand their blockchain experiments.

JPMorgan’s exploration of blockchain-based financial technology indicates a growing institutional interest in tokenizing assets, with the bank positioning itself at the forefront of this shift.

JPMorgan’s involvement in tokenized U.S. Treasury transactions and the application of the XRP Ledger highlight a trend toward integrating traditional financial assets with blockchain technology to expand operational possibilities and improve efficiency.

With JPMorgan approaching the $1 trillion market capitalization milestone, the company’s commitment to real-world blockchain transactions marks a potential shift in the way established financial institutions may operate in the future.