The digital asset associated with the Stellar network, XLM, has observed a surge in its price trajectory following a series of significant purchases. The consolidation of key support levels by buyers, combined with a decrease in selling pressure, has bolstered expectations for a potential market recovery. Notably, XLM’s value ascended by 10.17% within the last 24 hours, reaching $0.1699. Accompanying this rise, the daily trading volume stands at $148.99 million with a market capitalization of $5.87 billion.

Are There Signs of Price Recovery?
Indeed, cryptocurrency analyst LAR highlighted a renewed vigor in XLM charts as buyers have initiated actions in crucial price territories. According to LAR, the easing of selling pressures has significantly aided in maintaining the bullish structure of the asset.

LAR asserts that should the buyers continue to uphold the support levels and overcome resistance, a fresh upward movement in XLM could be ignited.

If the current technical outlook remains stable, one of the notable targets for XLM is the $0.29 mark. This target represents a potential upward climb of around 90% based on the present structure. However, should the support levels falter, this optimistic scenario might not hold.

The primary focus for the short term is whether the recent upward trend will persist. Strengthened buying could expedite the price’s progression toward resistance zones, while diminished demand might delay the anticipated breakout.

Why Is Network Capacity Expansion Significant?
According to Chainspect, a company monitoring blockchain data, the Stellar network achieved a transaction processing capability of 3,351 transactions per second (TPS). This achievement signifies a roughly 65% increase from its previously reported maximum performance. As a blockchain network, Stellar is recognized for its focus on cross-border payments and asset transfers.

The network’s new performance metrics reveal:

XLM price at $0.1699
10.17% increase over 24 hours
24-hour volume of $148.99 million
Market cap reaching $5.87 billion
New performance threshold at 3,351 TPS
However, reaching 3,351 TPS doesn’t imply the network constantly operates at this speed. Actual transaction capacity can fluctuate based on network traffic and demand. Nonetheless, this enhanced upper limit supports Stellar’s claim of scalable infrastructure for payment and financial applications.

What Are the Key Levels to Watch?
The pivotal factor for future market direction hinges on how effectively buyers can maintain critical support levels. Surpassing resistance levels could render the $0.29 target more attainable. Traders closely monitor not only price movements but also the level of activity, transaction capacity, and adoption rate within the Stellar network.

Chainspect data reveals that Stellar’s technical capacity has reached a new threshold, as market participants observe how this development might reflect in price dynamics.

VanEck, a leading investment manager specializing in exchange-traded funds (ETFs) and digital assets, reported that Bitcoin may be approaching the end of its current market correction. The firm stated that eight out of twelve key capitulation signals have been triggered, indicating that the worst of the downtrend could soon subside.

According to VanEck, long-term Bitcoin holders have sold a combined total of 356,000 BTC over the past month. This significant wave of liquidations has not resulted in further sharp declines for the cryptocurrency. Instead, Bitcoin’s price has remained relatively stable, suggesting seller exhaustion might be setting in.

VanEck identified this combination of heavy selling and price resilience as a potential sign that Bitcoin is nearing the bottom of its correction cycle. Market observers are watching closely to see if further capitulation signals will surface or whether sentiment will turn bullish in the coming weeks.

Long-term holders offloaded 356,000 BTC in the last month, but Bitcoin held steady, indicating a possible shift in market dynamics as eight out of twelve capitulation indicators have now been met.

The firm’s analysis is based on on-chain data and market cycle indicators, which track investor behavior and measure the intensity of selloffs. These signals are often considered key metrics in assessing Bitcoin’s recovery prospects.

Market cycles and future projections
Bitcoin previously reached a record high of $126,080 in October 2025, followed by a notable decline earlier this year. Analysts attribute this reversal to a mix of macroeconomic factors, such as global uncertainty and elevated geopolitical tensions. During this period, investors shifted from riskier assets to what they considered safer stores of value, including gold.

A significant aspect discussed by VanEck is Bitcoin’s four-year market cycle. Historically, Bitcoin achieved new all-time highs in 2017, 2021, and 2025, aligning with its halving schedule. Many experts expect this pattern to persist, with the next major rally potentially beginning in 2027 and a new high possibly reached in 2029.

Macroeconomic factors and Fed policy
Inflation dynamics are also playing a central role in shaping Bitcoin’s price action. The US Consumer Price Index has decreased in recent months, raising speculation about potential interest rate cuts from the Federal Reserve if inflation approaches its 2% target.

Such developments could stimulate a renewed risk appetite, making assets like Bitcoin more attractive to investors seeking higher returns. However, many participants remain cautious, awaiting clear signals from both macroeconomic indicators and crypto market cycles.

Bitcoin could benefit if inflation drops and the Federal Reserve eases policy, prompting increased capital flows into higher-risk assets.

Metaplanet, a Japanese investment company known for its aggressive Bitcoin strategy, announced a major move into the United States market by acquiring Super League Enterprise. The deal involves exchanging 2,100 Bitcoin as well as $2.5 million for a controlling stake, with plans to develop a new Bitcoin treasury platform in the US.

Acquisition of Super League and US strategy
Following the transaction, the merged entity will be renamed Superplanet and will trade on Nasdaq under the ticker SUPA. According to Metaplanet, it expects to hold about 95.7% of all common shares and consolidate almost all voting rights in the new company.

Metaplanet outlined its intention to replicate its proven Bitcoin treasury approach in the larger and more mature US digital asset market. The company has stated that, after the acquisition, all Bitcoin under Superplanet’s control will be fully incorporated into Metaplanet’s holdings.

Metaplanet describes the deal as an important milestone, aiming to strengthen its presence in the US digital assets market while maintaining capital flows from Japan.

The planned corporate structure will feature two separately listed companies: Metaplanet operating in Japan and Superplanet active in the US. Metaplanet will primarily raise funds in yen, while Superplanet will work with US dollars. This dual-market structure is designed to optimize capital access in both regions.

Mini dictionary: Metaplanet, a Japanese digital asset investment firm, is recognized for building one of the largest corporate Bitcoin treasuries globally using strategic investment structures.

Capital structure and potential expansion
One part of Metaplanet’s expansion plan involves issuing US dollar perpetual preferred shares to raise additional funds. The capital raised via this route may be deployed to further increase Superplanet’s Bitcoin treasury.

For example, the company outlined a scenario where Superplanet raises enough in preferred equity to double its Bitcoin holdings from the initial 2,100 BTC to 4,200 BTC. Based on Metaplanet’s projection, this would increase Bitcoin held per Metaplanet share by about 4.7%.

Furthermore, Metaplanet reserved the option to invest up to $210 million more in Superplanet, securing long-term warrants for around 381 million additional shares. This could provide further expansion opportunities should market conditions prove favorable.

Timeline and regulatory approval
The ambitious plan remains subject to several approval steps, including Metaplanet shareholder consent, regulatory reviews, and Nasdaq authorization. Should all hurdles be cleared, the deal could be finalized in the fourth quarter of 2026.

Metaplanet initially adopted its Bitcoin-focused treasury approach last year and has steadily built a significant reserve. While the company temporarily paused Bitcoin purchases following the 2026 market downturn, acquisitions resumed in July. The company is currently estimated to hold roughly 43,000 BTC, making it the third-largest publicly known corporate Bitcoin holder.

Strategy leads all public companies with an estimated 840,447 BTC, while Twenty One Capital holds around 43,514 BTC, edging slightly ahead of Metaplanet’s total.

By expanding operations into the US, Metaplanet aims to diversify its funding sources between yen and dollars and reinforce its position as a leading player in the corporate Bitcoin market.

OpenAI has signed a 20-year lease for 4.25 gigawatts of initial AI capacity at an Ohio data center supported by up to $105 billion in guarantees from Nvidia.

OpenAI’s lease at the PORTS-Pike campus is expected to begin in phases in 2028.
Nvidia has capped its initial guarantee obligations at a combined $105 billion.
SB Energy will build, own, and operate the Pike County data center.
Nvidia will invest $1.5 billion in SB Energy and provide the campus’s AI systems.

Nvidia’s Aug. 17 announcement said OpenAI will use the PORTS-Pike Technology Campus in Pike County, where SB Energy will build, own, and operate the infrastructure under the long-term lease.
The chipmaker will serve as the campus’s exclusive AI compute provider, supplying its DSX AI factory platform. OpenAI’s systems will use Nvidia GPUs, CPUs, and networking equipment, with the first capacity scheduled to become available in phases beginning in 2028.

Built across private and federal land, the campus will occupy the former Portsmouth Gaseous Diffusion Plant and surrounding property in southern Ohio. SB Energy is developing the project with AEP Ohio, the U.S. Department of Energy, and the Department of Commerce.

Nvidia has secured the land, power, and building shell required for an initial 4.25 gigawatts of IT load. The company also holds an option for the remaining 3.75 gigawatts, potentially taking the campus to 8 gigawatts of AI capacity.

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Nvidia has provided a $105 billion lease guarantee
In an Aug. 17 SEC filing, Nvidia disclosed several residual-value guarantee agreements covering OpenAI’s initial 4.25-gigawatt commitment.
The company’s combined payment obligations under the agreements cannot exceed $105 billion. Each guarantee generally becomes effective when the related lease starts, provided SB Energy satisfies the ready-for-service conditions for the relevant section of the campus.

OpenAI remains responsible for paying the lease. Nvidia would face a payment obligation only if OpenAI became insolvent and defaulted or failed to make the required payments, according to the filing.

Following such an event, Nvidia would generally cover the difference between the lease’s guaranteed minimum value and the amount SB Energy recovered through a replacement tenant or property sale. Nvidia could also assume the lease, ask SB Energy to find another tenant, begin a sale process or allow the lease to end.

Another provision would let Nvidia postpone those remedies for up to one year while paying certain project costs. OpenAI has agreed to reimburse and indemnify the chipmaker for any money it pays to SB Energy under the guarantees.

The guarantee for each section can run until the 20th anniversary of the applicable lease. Nvidia’s obligation could end earlier if OpenAI terminates the lease under its terms, achieves a satisfactory credit rating or meets another termination condition stated in the agreements.

Addressing concerns about circular financing, Nvidia CEO Jensen Huang said OpenAI, rather than the chipmaker, will make the lease payments. If OpenAI does not use the capacity, Huang said the site could be offered to another eligible customer.

“Nvidia compute is versatile, fungible and broadly adopted,” Huang wrote, adding that the capacity could be resold to cloud providers, enterprises, AI laboratories or startups in the company’s customer network.

OpenAI will use Nvidia’s full AI technology stack
At the Ohio site, OpenAI will deploy Nvidia’s DSX platform across the initial 4.25-gigawatt buildout, subject to limited exceptions disclosed in the SEC filing. The platform combines data center facilities, computing hardware, networking, and software into one system.

Huang described land, power, and finished data center space as essential resources for the AI industry, where companies need large power commitments before installing computing equipment.

“We are securing long-lived infrastructure for Nvidia compute so OpenAI can deploy the most productive AI factories,” Huang said.

Alongside its guarantee, Nvidia will invest $1.5 billion in SB Energy. The investment will place the chipmaker beside existing investors SoftBank Group and OpenAI while providing capital for SB Energy’s data center projects and local commitments.

SB Energy and SoftBank plan to build at least 10 gigawatts of new electricity generation to support 8 gigawatts of IT capacity. The companies will also invest at least $4.2 billion in regional grid infrastructure through an agreement with AEP Ohio, Nvidia said.

According to the announcement, the power and grid arrangements are designed to prevent existing Ohio electricity customers from carrying the project’s infrastructure costs. SB Energy co-CEO Rich Hossfeld said the group would build the site while “protecting ratepayers” and investing in southern Ohio.

The project is expected to support about 35,000 construction jobs through 2032 and create roughly 2,500 permanent operating positions, Reuters reported. OpenAI and SB Energy have also established an $80 million community benefits fund after OpenAI added $40 million to SB Energy’s original commitment.

Funding from the program is intended for affordable energy, workforce training, employment programs, and local economic development. OpenAI CEO Sam Altman said the company wants Pike County residents to benefit through jobs, business opportunities, and community investment.

AI demand has increased competition for power and land
OpenAI’s lease adds to a series of large infrastructure commitments as AI companies secure electricity, grid connections and data center sites. Advanced computing projects often require years of preparation because utilities must add generation and transmission capacity before servers can begin operating.

For crypto investors, the same demand has increased interest in Bitcoin miners that already control powered land and grid connections. As crypto.news reported in May, former OpenAI researcher Leopold Aschenbrenner’s fund held positions in IREN, Core Scientific, Riot Platforms, CleanSpark, Bitfarms, Bitdeer, and Hive Digital as part of a power-and-compute investment strategy.
The fund’s SEC filing showed $13.67 billion in disclosed equity exposure at the end of the first quarter. Several miners have been converting existing sites or planned capacity into high-performance computing facilities because the infrastructure can serve AI customers as well as proof-of-work networks.

OpenAI has also diversified the cloud services used to distribute its models. In April, the company expanded its AWS access after revising its relationship with Microsoft, allowing OpenAI models and its Codex agent to become available through Amazon Bedrock.
While securing additional computing capacity, OpenAI has continued preparing for a possible public listing. Reports in June said executives were considering a potential 2027 IPO rather than accepting a lower valuation in 2026, while SoftBank shares fell 12.5% after the reports emerged.
Polymarket traders currently assign about a 20% probability to OpenAI completing an IPO by the end of 2026. Prediction-market prices can change as traders enter or leave positions and do not represent an announcement from the company.

Nvidia said the full guarantee agreements will be filed as an exhibit to its Form 10-Q for the fiscal quarter that ended July 26, 2026.

Anthropic is being priced on the money it hopes to make two years from now rather than what it earns today. This could change how investors judge the growing number of AI companies preparing for the public markets.

The AI firm has reportedly told people involved in its offering that it expects revenue of $190 billion to $200 billion in 2028. The figure had not previously been reported. The bigger story is how bankers are using it. They are looking far ahead to value a changing business.

Pricing on revenue two years out
A Reuters report mentioned that banks and investors in the deal were using enterprise value-to-revenue multiples based on projections to assess valuation. This method is standard for growth-stage software companies still working to achieve steady profits. Making predictions two years into the future is a rather bold gamble.
Anthropic’s current business operations and its goal for 2028 are miles apart. The company reported a revenue run rate of $47 billion in May. Hitting the annual target of $190 billion to $200 billion would require almost fourfold growth in the company’s revenue trajectory.
The numbers offer a useful valuation benchmark. Anthropic was valued at $965 billion after raising $65 billion in May. If that valuation is compared with the newly reported $190 billion to $200 billion 2028 revenue forecast, it works out to roughly 4.8x to 5.1x forward revenue.

That is not the enterprise value-to-revenue multiple the report says bankers are using, since $965 billion is a post-money valuation. But it provides a useful way to think about the price: if Anthropic actually reaches its 2028 target, today’s valuation would amount to roughly five times annual revenue.

The comparison is noticeable. As reported, Palantir trades at approximately 53 times its projected revenue, while SpaceX and Cloudflare trade at 41.6 times. The figures cannot be directly compared due to their use of 2026 revenues as opposed to 2028 revenues. However, the difference still suggests that Anthropic might not need high AI multiples at the moment if it succeeds in achieving the projections.

Why the two-year forecast matters for rivals
Anthropic is not the first company to solicit long-term thinking from investors. Cerebras Systems’ investors were cited by Reuters as having revenue projections extending to 2028 prior to the company going public, with SpaceX making forecasts up to 2029 before it listed in June. Longer-term projections have been useful in supporting valuations that could not have been justified with near-term revenue.

This precedent is important to Anthropic, which confidentially filed for an IPO with the SEC in June, following a $965 million funding round in May. According to a previous report by Cryptopolitan, Goldman Sachs and Morgan Stanley are some of the banks involved in the IPO process.
Bankers have advised both Anthropic and OpenAI that the first one to launch would create a model for the entire industry. Therefore, the valuation calculations of Anthropic are relevant not only for its IPO. If investors embrace a two-year-forward revenue model, other emerging AI companies may find it easier to justify their valuations based on what they expect their businesses to do in the future rather than where they are today.

Spending is the number investors are underwriting
The forecast is contingent on costs ceasing to grow as quickly as revenue. As reported by Reuters, Anthropic is still spending large amounts of money on computing resources, model building and hiring. The hope is that revenue will eventually grow faster than those expenses.

The broader artificial intelligence industry illustrates what a challenging proposition this is. The 2026 AI Index, released by Stanford University, estimates that global investment in corporate artificial intelligence amounted to $581.7 billion for 2025, an increase of 130% compared to the previous year.

Gartner expects global spending on AI-optimized infrastructure-as-a-service to increase by 96% by 2026 to approximately $42 billion, with a further increase of 56.5% in 2027. This shows the amount of investment needed to support AI workloads.
For Anthropic, this means a trade-off between more compute capacity enabling revenue generation and spending.

This means that investors are backing a target of revenue of more than $ 200 billion. They believe that Anthropic can convert that scale into strong enough economics in a short time to support its valuation.

When taking into account a factor of approximately five times the projected revenue of 2028, the $ 965 billion valuation might not be as demanding should Anthropic hit those numbers. On the other hand, if the company generates no revenue or the costs turn out to be high, the valuation might become much more difficult to support.

On Wall Street, Anthropic’s 2028 projection is treated as more than just a goal for growth. It serves as the denominator in calculating the valuation that approaches the $ 1 trillion mark.

Bitcoin ETFs experienced significant outflows, with a combined sale of 966 BTC valued at approximately $61.16 million. BlackRock, the world’s largest asset manager, and Fidelity, one of the leading American financial services corporations, led these moves with sizable dispositions from their respective funds.

Major BTC outflows by BlackRock and Fidelity
BlackRock’s ETF sold 227 BTC, translating to a value of $14.34 million. At the same time, Fidelity’s ETF offloaded an even larger amount, disposing of around 739 BTC for $46.82 million. These decisions indicate a possible adjustment in the allocation strategies of both institutions.

The activity marks one of the larger recent outflows from Bitcoin ETFs and has drawn market attention to the actions of these two financial giants. Both institutions are highly influential in shaping investment trends among traditional and crypto-focused investors.

With BlackRock and Fidelity leading substantial Bitcoin sales, the ETF outflows reflect investor caution in current market conditions.

During the period of these outflows, Bitcoin traded near $63,690, and market sentiment remained characterized by uncertainty and caution. Analysts note that such significant ETF sell-offs can create downward pressure on Bitcoin’s price, especially when combined with a risk-averse investor climate.

Ethereum ETFs record inflows
In contrast to the Bitcoin ETF outflows, Ethereum ETFs saw inflows amounting to 3,920 ETH, valued at roughly $7.38 million. BlackRock participated in this trend by purchasing the same amount of ETH, indicating a possible shift in investor preference from Bitcoin to Ethereum.
With Ethereum trading around $1,890, the increased inflows into Ethereum ETFs suggest that some institutions and investors are reevaluating its prospects, potentially positioning it more favorably amid current market volatility.

This divergent movement between Bitcoin and Ethereum highlights a growing difference in investor confidence and perceived opportunity between the two largest cryptocurrencies by market capitalization.

Market observers continue to monitor these ETF movements, as changes in fund allocations by industry leaders such as BlackRock and Fidelity can influence broader trends among institutional and retail investors alike.

Fidelity is expanding its Ethereum investment product, the Fidelity Ethereum Fund (FETH), by introducing staking, which will enable investors to receive quarterly distributions from staking yields. The move marks a significant shift for the $898 million fund as institutional demand for Ethereum exposure continues to rise.

Comprehensive staking framework for FETH
According to an August 11 filing with the US Securities and Exchange Commission (SEC), Fidelity aims to stake its entire Ethereum holdings in the fund during standard operating periods, while maintaining enough reserves for redemptions and expenses. The flexibility of this framework allows FETH to increase or reduce its staked assets in response to market conditions, liquidity requirements, and validator performance.

The prospectus identifies Blockdaemon, Figment, and Galaxy Digital Trading Cayman as proposed operator partners responsible for running Ethereum validator nodes. Asset allocations among these operators will be determined by factors such as technical capabilities, security measures, operational track record, and the goal of minimizing concentration risk.

Custody of the cryptographic keys will remain with qualified custodians, and the underlying validator infrastructure will be managed by appointed technical operators. There is no set minimum amount that must be staked at any given time; instead, the portion of assets being staked will reflect redemption activity, network status, and other operational needs.

Fidelity plans to stake virtually all Ether in the FETH fund, but will hold back enough to cover daily redemptions, expenses, and ongoing operational needs. Distribution payments are scheduled to begin following SEC approval and the commencement of the updated fund prospectus.

Shareholder distributions and fee model
Quarterly payouts to FETH investors are at the heart of Fidelity’s model. The fund will allocate 85% of all net staking rewards to shareholders, while a 15% service fee will go toward the sponsor, custodians, and node operators. Staking rewards will be accumulated in Ether and, when appropriate, converted into US dollars for distribution.

The sponsor will determine the record and distribution dates in compliance with exchange regulations. Distribution amounts may fluctuate, depending on Ethereum network yields, validator efficiency, protocol parameters, fund expenses, and overall obligations. As clarified in the filing, quarterly distributions are not guaranteed and may be withheld when staking revenues fall short of financial liabilities.

This flexible approach provides Fidelity with the ability to maintain necessary cash reserves, ensuring it can meet redemption requests and cover operational costs. By aligning reward payouts with available staking income, the fund seeks to protect both its liquidity and its investors.

Trends and industry context
Fidelity’s expansion into staking aligns it with major US players such as Grayscale and BlackRock, both of which have recently rolled out staking options for their Ethereum products. Grayscale introduced staking for its Ethereum trust in 2025, followed closely by BlackRock’s Ethereum staking fund. Unlike its competitors, Fidelity is bringing staking functionality directly into its existing FETH structure rather than launching a separate fund.

The regulatory framework for qualified digital asset trusts has also evolved. Recent federal tax clarifications now allow trusts to generate staking income while maintaining favorable tax treatment. Fidelity has confirmed that all FETH staking will comply with current safe-harbor regulatory guidance relating to taxation and digital asset operations.

Integrating staking introduces heightened liquidity and operational challenges for institutional managers. For example, Ethereum validator withdrawals may take longer during periods of network congestion. The fund will conduct ongoing liquidity assessments and maintain reserves sufficient to cover expected redemptions and obligations. Risk protocols are in place to address security, validator performance, slashing risks, and settlement processes within internal oversight frameworks.

In a landscape where a single Federal Reserve announcement or the sudden listing of a new altcoin can drive dramatic market shifts, investors are increasingly turning to seamless, all-in-one platforms for portfolio management. The trend toward consolidating market data, price alerts, and coin-specific news has led many active traders to adopt privacy-focused platforms like CryptoAppsy, which delivers real-time analytics and macroeconomic data without the need for user accounts.

Implementing Ethereum staking within FETH marks a growing industry convergence on staking-enabled investment products. Fidelity is not only meeting the demand for yield-bearing crypto assets but is also positioning itself against other major players expanding similar offerings.

MoneyGram, one of the world’s leading cross-border payment companies, has expanded its cash-to-crypto Ramps service to the Solana blockchain, enabling wallets, exchanges, and developers to offer seamless conversions between cash and digital assets for users around the globe.

Solana integration offers new reach
The new extension allows users in more than 25 countries to deposit cash for digital asset purchases and provides cash withdrawals from supported cryptocurrency holdings in over 170 countries and territories. MoneyGram’s Ramps service aims to simplify access to digital assets by leveraging the company’s global payment network, eliminating the need for crypto companies to establish separate partnerships with banks or cash services.

Through Ramps, users with compatible wallets can convert local cash into supported digital assets, or withdraw crypto as local currency at MoneyGram’s network locations. This approach connects digital wallets directly to physical payment points and addresses the needs of crypto platforms seeking to reach customers who prefer cash transactions.

The move comes as stablecoins and blockchain-based payment options gain traction for remittances and cross-border transfers. Payment firms, fintechs, and banks have increasingly tested and adopted stablecoins, which are cryptocurrencies pegged to the value of fiat currencies like the US dollar, aiming to provide cost-effective and rapid international payments.

MoneyGram, which serves around 60 million customers worldwide, has stated that integrating blockchain technology holds the potential for faster, more affordable transfers, while maintaining a user-friendly process.

Expanding blockchain presence and partnerships
MoneyGram has steadily enhanced its involvement in blockchain technology. In 2022, the company partnered with the Stellar Development Foundation to support cash in and cash out services for Circle’s USDC stablecoin, allowing users to move easily between paper currency and digital coins.
In June, MoneyGram announced a new dollar-backed stablecoin, MGUSD, which is issued on the Stellar blockchain through Bridge, a stablecoin infrastructure provider owned by global payments firm Stripe.

Additionally, MoneyGram became a validator on the Solana network in June, taking on a role in verifying and securing transactions. Becoming a validator enables a company or individual to help maintain a blockchain’s functionality, confirm transactions, and add new blocks to the chain.

Mini dictionary: Solana validator, a network participant responsible for confirming and securing transactions on the Solana blockchain, helping to maintain its decentralized infrastructure.

The company also joined Open USD, a Stripe-led initiative involving stablecoins, which plans to distribute revenue among a group of partners. This further underlines MoneyGram’s strategy to connect digital assets with its established cash payment network through multiple blockchain platforms.

Chief Executive Anthony Soohoo emphasized an ambition to build a more open global payments infrastructure, focused on broadening access to financial services throughout the expansion of blockchain partnerships.

The New York Stock Exchange is advancing its presence in blockchain-based market infrastructure, with President Lynn Martin confirming development of a new platform for on-chain settlement of tokenized securities.

NYSE partners with DTCC for on-chain settlement pilot
This initiative aligns with increased interest from traditional financial service providers, who are actively exploring blockchain’s potential to manage elements of trading infrastructure while maintaining established investor protections.

In July, the Depository Trust & Clearing Corporation (DTCC)—a leading post-trade financial services company and the largest securities depository in the United States—processed live production trades using tokenized securities involving several major financial institutions. This pilot program comes ahead of DTCC’s plan to launch a commercial tokenization service in October. The NYSE has submitted rule filings that would enable eligible stocks and exchange-traded funds (ETFs) to be traded in tokenized form as part of the DTCC pilot project.

What distinguishes this project is the scale and established infrastructure behind it. The Depository Trust Company (DTC), DTCC’s settlement subsidiary, safeguards more than $114 trillion in securities. The new tokenization service aims to represent assets already held within the DTC’s system, further embedding blockchain technology into Wall Street’s core operations.

The pilot program initially targets highly liquid securities, including constituents of the Russell 1000 Index, large index ETFs, and US government securities. If these pilot operations achieve scale, the integration of tokenization could eventually shift from a niche use case toward forming a backbone for mainstream securities markets.

Mini dictionary: DTCC (Depository Trust & Clearing Corporation) is a central clearing and settlement organization in the US, processing the majority of equity, bond, and ETF trades and reducing settlement risk for financial institutions.

Tokenization and cost efficiency in traditional markets
A key driver behind Wall Street’s push toward tokenization is the potential for broad cost reductions across the financial system. In a 2024 study, the Bank for International Settlements estimated that blockchain-based asset tokenization can lower costs in trading, settlement, and collateral management—especially where multiple intermediaries are involved in a single transaction.

These efficiencies might allow institutions to free up capital and significantly cut administrative requirements between trade execution and final settlement. This could lead to faster collateral reuse and lower expenses ultimately passed onto investors.

Faster settlement and reduced intermediaries can allow capital to move more freely and cheaply across the system, making mainstream securities trading more adaptable to investors’ needs.

Wall Street and crypto infrastructure draw closer
In 2025, the World Economic Forum projected that total tokenized assets could reach $2 trillion by 2030 under a conservative outlook, and potentially $4 trillion in more bullish scenarios. This forecast accounts for tokenized versions of bonds, loans, funds, and other complex financial instruments alongside stocks.

With these projections, NYSE’s blockchain initiative highlights a broader push to digitize traditional assets at scale. As tokenized securities become more widespread, blockchains, stablecoins, and digital wallets are likely to see increased integration into legacy capital markets—often without investors actively engaging with the crypto sector.

In another development, NYSE Arca and NYSE American have lifted the traditional 25,000-contract position and exercise limit on options linked to certain spot Bitcoin and Ether ETFs. This regulatory change allows for larger and more flexible trades on crypto-related ETF options.

The removal of these position limits signals growing institutional comfort with crypto products and paves the way for expanded market participation in regulated ETF options tied to digital assets.