The rapid rise of tokenisation risks repeating China's earlier boom-and-bust cycle in peer-to-peer lending unless clear industry standards are established to ensure discipline and innovation, according to a senior Chinese asset manager. Some multilevel marketing companies in mainland China have already started holding meetings discussing real-world asset (RWA) tokenisation projects over the past year, raising "genuine concerns" that the nascent industry might be heading towards a peer-to-peer-style crisis ...

Core Viewpoint - The Bank of England has introduced comprehensive regulations aimed at establishing the U.K. as a global hub for digital assets, particularly focusing on stablecoins, which may influence major issuers to consider relocating to the U.S. due to its more lenient regulations [1]. Group 1: Regulatory Framework - The new proposals mandate that "systemic" stablecoin issuers must hold 40% of their reserves in non-interest-bearing accounts at the Bank of England and 60% in U.K. government bonds, marking a significant shift in the operational landscape for digital currencies in the U.K. [2]. - The U.K. is striving to implement its stablecoin and tokenization framework as quickly as the U.S. to maintain competitiveness in the evolving digital asset market [3]. Group 2: Central Bank's Vision - The Bank of England is actively working to establish a regulatory regime for stablecoins intended for widespread payment use, ensuring that the U.K.'s monetary framework is prepared for future developments [4]. - The approach emphasizes enabling responsible innovation in finance during a period of significant technological change, with the potential for tokenization and distributed ledger technology to enhance the efficiency of financial services [4]. - The U.K. aims to ensure that stablecoins can coexist safely with commercial and central bank money, contributing to a more diverse and resilient payments ecosystem [5].

🚀 Web3 Unleashed 2025 is officially wrapped!Proud to partner with DMCC for our third global hackathon — bringing together 90 teams across DeFAI, DeSci, DeFi, Gaming, SocialFi, Infrastructure and Tokenisation.🌟 Congrats to this year’s winners: @YumiFinance @GlintAnalytics @sorachain_ai Aurayale (@MustaverseLab) @0xspoutDubai’s Web3 ecosystem is rising fast, and we’re proud to help build what’s next 🌐✨ ...

Core Insights - The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) hosted the second Joint Climate Finance Conference on November 26 in Dubai, focusing on climate finance and innovation [1][2] - The conference attracted nearly 250 participants from the Middle East and Asia, emphasizing the importance of collaboration in addressing climate-related financial risks [1][2] Group 1: Conference Highlights - The event served as a platform for discussions on leveraging financial and technological strengths to support energy transition and sustainable development goals [2] - Findings from the joint research, "Scaling Sustainable Debt in Emerging Markets," were presented, highlighting the role of sustainable debt in expanding climate finance in emerging markets [2] Group 2: Strategic Partnerships and Contributions - Strategic partners included the Dubai International Financial Centre Authority, Nasdaq Dubai, and Hong Kong Exchanges and Clearing Limited, showcasing a collaborative effort across regions [3] - Key speakers from various sectors contributed to the dialogue, emphasizing the conference's role in knowledge sharing and collaboration [3] Group 3: Future Outlook - Mark Steward, Chief Executive of the DFSA, noted that tokenization and emerging technologies could enhance the transparency and efficiency of climate finance, facilitating a global transition [3] - Darryl Chan, Deputy Chief Executive of the HKMA, highlighted the unique position of Dubai and Hong Kong in driving climate action and capturing growth opportunities in green sectors [4]

Core Viewpoint - The SEC's potential plan to allow crypto companies to sell "tokenised" stocks may pose risks to investors, according to a letter from a group of stock exchanges [1][3]. Group 1: SEC's Regulatory Approach - Several crypto companies intend to offer crypto tokens linked to listed equities, allowing retail investors to gain stock exposure without direct ownership [2]. - The SEC is considering an "innovation exemption" from securities laws to enable crypto firms to explore new business models [3]. - The WFE expressed concerns that such exemptions could jeopardize market integrity and investor protections [3][4]. Group 2: Industry Reactions - The WFE, which includes major exchanges like Nasdaq and Deutsche Boerse, has previously voiced alarm over platforms offering tokenised stocks [5]. - The letter from the WFE indicates a pushback from traditional finance against certain crypto initiatives, particularly as they begin to compete with established financial services [6]. - The WFE advocates for a level playing field, suggesting that both crypto platforms and traditional finance should adhere to the same regulatory standards [6][7].

Core Insights - Kraken is launching a new Mastercard debit card for UK and European users, offering up to 1% cash back rewards in cash or Bitcoin, with no forex or monthly fees [1] - The launch of the Krak card coincides with the expansion of Kraken's Vaults feature, allowing users to earn up to 10% yield on their holdings [1][6] Company Developments - Kraken's new debit card is part of a broader trend among crypto companies moving beyond traditional buying and selling of digital assets, aiming to integrate various financial services [2][4] - The company is also introducing a direct deposit feature for users in the EU and the UK, enhancing its service offerings [7] Industry Trends - Other crypto exchanges like Coinbase and Crypto.com are also expanding their services to include debit cards and stock trading, indicating a competitive neobank landscape [2][3] - Fintech firms such as Revolut, Robinhood, PayPal, and Stripe are exploring blockchain technologies, including stablecoins and tokenization, to attract more crypto users [3][4] - The decentralized finance (DeFi) market is being tapped by Kraken to offer higher yields compared to traditional banks, although these come with associated risks [6]

Hong Kong-based Tykhe Capital Group and Malaysia's Skyvast Digital have launched a US$150 million tokenised fund that offers investors exposure to artificial intelligence infrastructure, using an innovative arrangement designed to share project revenues and boost liquidity. SKYD Token was "the world's first global-grade AI infrastructure tokenised fund", Tykhe's subsidiary, Pioneer Asset Management, and AI infrastructure developer Skyvast said in a press release on Monday. The fund will provide investors ...

Core Viewpoint - Hong Kong's initiative to create a tokenised financial system is expected to attract more companies to establish treasury centres in the city, enhancing investment options and lowering transaction costs [1] Group 1: Benefits of Tokenisation - Both corporations and individuals are anticipated to benefit from the increased tokenisation of money and assets, leading to faster, more efficient, and accessible financial services [2] - Tokenised financial products are projected to enhance corporate cash and treasury management by decreasing the time and cost associated with cross-border transactions [4] Group 2: Commercial Applications and Initiatives - Government-led tokenisation and digital asset initiatives, such as Project Ensemble, are gaining traction, with expectations for more commercial applications to emerge [3] - The Hong Kong Chinese Enterprises Association has established a Corporate Treasury Centre Committee, consisting of 43 member companies managing assets exceeding US$240 billion, with financing around US$100 billion and annual settlements close to US$3 trillion [5] Group 3: Role of Corporate Treasury Centres - Corporate treasury centres provide clients with global finance management services, including foreign exchange trades, financial products, and risk management [6]

Core Viewpoint - Hong Kong's Monetary Authority has initiated a pilot program for real-value transactions using tokenised deposits and digital assets, enhancing the city's position as a fintech hub [1][2]. Group 1: Pilot Program Details - The pilot program, part of Project Ensemble, will run until 2026 and focuses on enabling market participants to utilize tokenised deposits for money-market funds and real-time liquidity management [2]. - Seven commercial banks and 13 industry participants are involved in the pilot, aiming to facilitate faster, more transparent, and efficient tokenised transactions [1][6]. Group 2: Corporate Participation and Demand - HSBC completed a cross-bank transfer of HK$3.8 million (US$489,000) in tokenised deposits for Ant International, highlighting the practical application of the pilot [3]. - There is a significant increase in demand for tokenisation from corporate treasuries, with a survey indicating a sixfold surge expected over the next two years [4][5]. Group 3: Benefits of Tokenised Deposits - Tokenised deposits offer continuous access, reduced costs, and enhanced cash management capabilities, allowing businesses to automate payments based on predefined conditions [5]. - The programmability of tokenised deposits is seen as a key advantage for businesses, aligning with the growing trend towards digital asset management [5].

SINGAPORE (Reuters) -Singapore's central bank will hold trials to issue tokenised MAS bills next year and bring in laws to regulate stablecoins ​as it presses forward with plans to build a scalable and secure tokenised financial ‌ecosystem, the bank's top official said on Thursday. "Tokenisation has lifted off the ground. But ‌have asset-backed tokens achieved escape velocity? Not yet," said Chia Der Jiun, Managing Director of the Monetary Authority of Singapore (MAS), a keynote address at the Singapore F ...