In a landmark move bridging traditional finance with digital assets, Bybit has partnered with regulated platform DigiFT to integrate UBS Asset Management’s tokenized money market fund as collateral on its trading platform. This strategic collaboration represents a significant advancement in making regulated real-world assets accessible within the cryptocurrency ecosystem, allowing institutional investors to unlock additional utility from their tokenized holdings while maintaining compliance standards.
read moreMonetary Authority of Singapore
0 in Finance and 0 in Crypto last week
Singapore Delays Crypto Banking Rules to 2027
Singapore’s central bank has postponed the implementation of new cryptocurrency prudential standards for banks by one year to 2027, responding to industry concerns that the proposed framework could disadvantage assets on permissionless blockchains and stifle innovation. The Monetary Authority of Singapore (MAS) will use the additional time to monitor global regulatory developments while maintaining its balanced approach between financial stability and technological advancement in the rapidly evolving digital asset landscape.
read moreSwift & Chainlink Enable Banks to Use SWIFT for Onchain Transactions
In a landmark development for financial technology, Swift has partnered with blockchain oracle provider Chainlink to enable global banks to execute onchain transactions using their existing SWIFT messaging infrastructure. This integration, emerging from a pilot with UBS Asset Management and the Monetary Authority of Singapore, represents one of the first concrete products demonstrating how traditional banking systems can seamlessly connect with blockchain networks without requiring costly infrastructure overhauls. The breakthrough marks a significant step toward mainstream blockchain adoption in traditional finance, potentially transforming how financial institutions interact with digital assets.
read moreChainlink, Swift & UBS Pilot Tokenized Fund Solution
In a landmark development for the $100 trillion global fund industry, Chainlink has partnered with Swift and UBS to create a breakthrough system that enables financial institutions to process tokenized fund transactions using their existing messaging infrastructure. This collaboration represents a significant step toward mainstream digital asset adoption by eliminating critical technical barriers that have hindered blockchain integration in traditional finance. The successful pilot demonstrates how legacy financial systems can seamlessly interact with blockchain networks without requiring costly overhauls of identity or custody systems.
read morePakistan Opens Market to Licensed Foreign Crypto Exchanges
Pakistan’s Virtual Asset Regulatory Authority (PVARA) has issued a call for expressions of interest from foreign virtual asset service providers and exchanges, marking a significant opening of its digital asset markets. Only companies licensed by established regulators such as the U.S. SEC, U.K. FCA, EU VASP framework, UAE’s VARA, or Singapore’s MAS are eligible to apply. Applicants must submit comprehensive details including licenses, services, technology standards, and a Pakistan-specific operating model. The framework is designed to align with international standards set by FATF, IMF, and World Bank. This development comes as Pakistan ranks third globally in crypto adoption with approximately 20 million users, reflecting growing acceptance and the recent establishment of a government-backed Bitcoin reserve.
read moreSBI Group & Chainlink Partner for RWA Tokenization
SBI Group, Japan’s prominent financial conglomerate with over $200 billion in assets, has entered a strategic partnership with Chainlink to advance blockchain adoption and real-world asset (RWA) tokenization. The collaboration will utilize Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate tokenized RWAs, funds, and regulated stablecoins, initially focusing on the Japanese market. Chainlink’s technology will provide on-chain verification of reserves for stablecoins and net asset value data for tokenized funds, enhancing transparency and operational efficiency. This partnership builds on previous collaborations under Singapore’s Project Guardian and aligns with growing institutional interest in RWA tokenization, as evidenced by recent Federal Reserve research and Ripple’s similar initiatives with SBI. The news has positively impacted Chainlink’s native token LINK, which has surged 40% in the past month.
read moreSolana Boosts Block Capacity by 20% for Faster Transactions
Solana has upgraded its block capacity by 20%, increasing the per-block compute unit (CU) limit from 50 million to 60 million, with plans to expand it further to 100 million CUs under the SIMD-0286 proposal. This enhancement aims to reduce network congestion, improve transaction speeds, and support more complex smart contracts, benefiting both developers and users. The upgrade aligns with Solana’s goal of becoming the backbone for high-speed Internet Capital Markets (ICM) by 2027, attracting institutional interest from major financial players like HSBC and Bank of America. Solana’s recent performance, including a 23% monthly gain and a $107 billion market cap, underscores its growing prominence in the blockchain space.
read moreInvesco & Galaxy File Solana ETF Amid SEC Scrutiny
Invesco and Galaxy Digital have registered the Invesco Galaxy Solana ETF as a Delaware Statutory Trust, marking a significant step in the ETF approval process. The SEC has asked issuers to amend S-1 filings, focusing on in-kind redemptions and staking mechanisms—a notable shift in regulatory stance. While no green light has been given yet, the move reflects growing institutional interest in Solana, further bolstered by its partnership with R3 for real-world asset tokenization. SOL’s price rose 1.92% to $146.80 amid the news, with a market cap exceeding $75 million. The ETF could simplify institutional exposure to Solana, mirroring the convenience of traditional stock investments.
read moreSingapore Tightens Crypto Rules, Bans Firms Serving Only Foreign Clients
The Monetary Authority of Singapore (MAS) has introduced stringent licensing rules for crypto firms, prohibiting those that exclusively serve foreign clients. Starting June 30, Digital Token Service Providers (DTSPs) must obtain a license, but MAS warned approvals will be granted only in ‘extremely limited circumstances.’ This move follows industry concerns over a potential ban on overseas client services, reinforcing Singapore’s cautious approach to crypto regulation while maintaining its financial hub status.
read moreABN AMRO Completes Tokenized Trading Pilot with 21X on Ethereum
ABN AMRO, the Netherlands’ third-largest bank, has successfully completed a pilot for tokenized trading using stablecoins in collaboration with German exchange 21X. The trial involved on-chain settlement for tokenized securities, with ABN AMRO issuing an ERC-3643 token on the Polygon Amoy Testnet. Following the pilot, the bank plans to enhance its offerings with secondary market capabilities through partnerships with European DLT systems. In Jakarta, police dismantled a crypto romance scam syndicate that targeted professionals from Southeast Asia, arresting 20 suspects linked to a fraudulent trading platform. The scheme promised high returns and has been active for over two months, with ongoing investigations into the total losses incurred.
read more