Circle (CRCL), the firm behind the $76 billion stablecoin USDC (USDC) is inching closer towards launching its payments-focused Arc blockchain, starting a test phase with a wide roster of institutional partners. The firm said on Tuesday it has deployed Arc's public testnet version, allowing over 100 financial institutions, asset managers and tech firms already involved, such as Visa, HSBC, BlackRock and Anthropic. "Combined, these companies reach billions of users, move, exchange, and custody hundreds of ...

Core Viewpoint - Nasdaq is seeking SEC approval to list tokenized shares, representing a significant step towards integrating blockchain technology into traditional finance [1][7]. Group 1: Nasdaq's Initiative - Nasdaq's proposal involves tokenized shares that are digital replicas of traditional equities, backed one-for-one by actual shares, allowing for programmable assets that can trade 24/7 and settle instantly [1]. - This move signifies a shift from Nasdaq's previous experimental approach to direct participation in the crypto space, reflecting a maturation of blockchain infrastructure [2][4]. Group 2: Regulatory Environment - The SEC's new leadership has softened its stance on crypto, with previous chairman Gary Gensler acknowledging the potential role of distributed ledger technology in traditional finance, provided it remains under strict control [3]. - Nasdaq's proposal emphasizes regulated custody and a permissioned network, aligning with the SEC's regulatory framework [3][7]. Group 3: Market Context - The digital-assets market is recovering from its 2022 downturn, with successful initiatives like spot bitcoin ETFs and tokenization pilots by major firms indicating a new phase of experimentation [4]. - Other exchanges, including SIX Digital Exchange and Deutsche Börse, are also exploring tokenized platforms, but Nasdaq's involvement carries significant symbolic weight in mainstream finance [7]. Group 4: Tokenization Benefits and Challenges - Tokenization promises to eliminate settlement delays, enable fractional ownership, and ease cross-border trading, but its success hinges on trust in the underlying technology [5]. - The tension between the decentralized ideals of crypto and the control preferred by traditional finance is central to the tokenization project [6][9]. Group 5: Psychological Impact - The introduction of tokenized blue-chip stocks under SEC oversight may blur the lines between digital assets and traditional securities, potentially altering market perceptions [8]. - While the transition may not lead to immediate market changes, it represents a pivotal moment for blockchain's acceptance in traditional finance [9].

Core Insights - AiRWA Inc. has secured an investment of approximately $30 million in Solana tokens, which will enhance the financial foundation of AiRWA Exchange and support its strategic focus on integrating Solana as a core asset for trading pairs [1] - AiRWA Exchange has completed test runs for settling trades of tokenized U.S. equities, allowing users to trade digital representations of U.S. stocks with the same ease as cryptocurrencies [2] - The platform aims to cater to cryptocurrency enthusiasts by enabling the trading of tokenized U.S. stocks like any other digital asset, with transactions settled within seconds on the blockchain [3] Business Model and Strategy - AiRWA Exchange plans to launch its services to approximately 4 million users from its joint venture partner, JuCoin, providing significant scale from the outset [4] - The company aims to revolutionize the trading experience for tokenized stocks and digital assets, merging blockchain technology's efficiency with traditional U.S. stock markets [5] - The integration of Solana and tokenized equities is expected to differentiate AiRWA Exchange in the digital asset marketplace, offering flexibility and speed for both institutional and retail traders [5] Company Background - AiRWA Inc. operates through its majority-owned subsidiary, Yuanyu Enterprise Management Co., Limited, which holds advanced patents and proprietary technology for digital matchmaking and technology solutions [6] - The company is actively involved in the Web3 space, focusing on the tokenization of real-world assets, particularly tokenized U.S. stocks [6]

Group 1: Ethereum's Institutional Adoption - FBS highlights Ethereum's growing role as a financial backbone for Wall Street, supported by billionaire investor Peter Thiel's backing of ETH-focused treasuries, indicating institutional capital's shift in perception of Ethereum [1][4] - Ethereum's staking economy has over $170 billion worth of ETH staked, evolving it into a yield-bearing instrument with annual yields of 3–4%, making it attractive for institutional investors [2] - The launch of ETH spot ETFs in 2024 has attracted $30 billion in assets under management, marking a significant milestone in Ethereum's institutional adoption [4] Group 2: Scalability and Tokenization - Ethereum's Layer 2 networks, including Arbitrum, Optimism, and Coinbase's Base, process 12–14 million transactions daily, significantly surpassing Ethereum's mainnet, which enhances its scalability [3] - The tokenization market, currently valued at $24 billion, is expected to expand rapidly, with Ethereum already dominating this space through projects backed by major financial institutions like BlackRock, JPMorgan, and Citigroup [4] Group 3: Structural Shift in Financial Markets - FBS concludes that Ethereum is transitioning from a speculative asset to the foundation for the next generation of financial markets, emphasizing the importance of recognizing this structural shift [5] - Key tokens positioned to benefit from this institutional shift include Arbitrum (ARB), Chainlink (LINK), and Lido (LDO), which are integral to Ethereum's growing yield economy and tokenization efforts [7]