Regulatory Developments - MAS (新加坡金融管理局) launches BLOOM initiative for tokenized settlements [1] - Dubai unveils financial strategy highlighting virtual assets [1] - Russia explores tokenizing domestic stocks [1] - Japan considers allowing banks to hold crypto assets [1] Project Updates - Ant Group suspends stablecoin plans in Hong Kong [1]

Group 1: ABSA Bank and Ripple Partnership - ABSA Bank is partnering with Ripple to provide custodial services on the Ripple blockchain, marking a significant moment in the adoption of crypto by mainstream financial institutions [1][2] - The partnership allows ABSA customers to store crypto and digital assets on the Ripple blockchain, with integrated tools for managing these assets [3] - Ripple's managing director for the Middle East and Africa described the partnership as a "major shift," emphasizing the potential of digital assets in Africa [3] Group 2: Ghana's Crypto Regulations - The Central Bank of Ghana plans to introduce crypto regulations by December 2025, aligning with similar legislative trends in Nigeria and Kenya [4] - The regulatory framework and a new bill to regulate virtual assets are currently being prepared for parliament [4] - The growing size of global crypto markets is prompting regulators to seek visibility on the movement of funds, which is in the billions [4] Group 3: Blockchain.com in Nigeria - Blockchain.com is seeking a crypto exchange license from Nigeria's Securities and Exchange Commission, following its decision to establish Nigeria as its regional hub [2]

Core Insights - The Real World Asset (RWA) sector valuation reached $34.4 billion, marking an 11.6% increase and a $3.9 billion rise in total deposits over the last 30 days [1] - Despite a challenging crypto market, the RWA sector demonstrated resilience, with tokenized debt, commodities, and private credit products attracting inflows as investors sought yield stability amid macroeconomic uncertainty [2] RWA Sector Performance - Private credit constitutes the largest RWA category, accounting for 51.4% of the total market at $17.3 billion, with U.S. public debt and commodities contributing nearly half of the $3.9 billion in new deposits [3] - Tokenized U.S. debt instruments increased from $7.5 billion to $8.3 billion since the start of October, driven by accelerated tokenization following the U.S. government shutdown [4] - Commodities-backed RWAs rose from $2.1 billion to $3.2 billion, influenced by Gold's rally to $4,200, with U.S. Treasuries and Commodities together seeing $1.9 billion in inflows, representing 51% of all newly tokenized assets in the last 30 days [4] Market Dynamics - Increased liquidity in the RWA sector has led to significant gains for token holders, with the aggregate market cap of tokenized projects rising to $6.78 billion, an 8.3% increase intraday, contrasting with the broader crypto market's 0.6% uptick [5]

Core Insights - Japan's three largest banks, Mitsubishi UFJ Bank, Sumitomo Mitsui, and Mizuho, are collaborating to launch stablecoins pegged to the Japanese yen and US dollar to compete with USDT and USDC [1][2] - The yen-backed stablecoin will initially be utilized for settlements by Mitsubishi Corporation, with plans for broader adoption across Japan [1][2] - The initiative is supported by Progmat, a blockchain infrastructure company established by MUFG, which will oversee the issuance and governance of the stablecoin [3][4] Group 1 - The three megabanks serve over 300,000 major business partners and aim to create a structure for corporate clients to transfer stablecoins under uniform standards [2] - The banks have partnered with various players in the crypto sector, including Bitbank, Avalabs, and Fireblocks, to enhance the stablecoin's infrastructure [4] - The stablecoin, named JPYC, will maintain its peg to the yen through reserves of highly liquid assets, with plans to issue 1 trillion yen (approximately $6.64 billion) over the next three years [5] Group 2 - The global interest in stablecoins is rising, with the total market capitalization recently surpassing $307 billion, where USDC and USDT dominate the market [6] - Currently, only Circle's USDC has received approval as a global dollar stablecoin for use in Japan, highlighting the competitive landscape [6]

Fundraising - Arthur Hayes' family office is seeking at least $250 million for a debut private equity fund [1] Investment Focus - The fund will target medium-sized crypto firms [1]

Core Insights - Binance founder Changpeng Zhao (CZ) has called for stricter safeguards in the Digital Asset Treasury (DAT) sector following the alleged collapse of QMMM, a US-listed firm accused of market manipulation [1][4] - CZ emphasized the necessity for DAT companies to utilize third-party crypto custodians and have their account setups audited by investors, making this a requirement for YZi Labs investments in BNB-affiliated DAT projects [2][3] Company Developments - QMMM announced plans in September to invest $100 million in building reserves in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), aiming to establish a diversified cryptocurrency treasury [3] - Following the announcement, QMMM's stock surged by over 960%, but soon after, the SEC accused the company of manipulating stock prices via social media [4] Market Reactions - The crypto community has reacted strongly to the situation, labeling it a case of speculative deception, with commentary suggesting that QMMM's actions were misleading [5]

Project Overview - Jasmy_Global 加密项目的代币正在被密切关注 [1] Market Focus - 行业正在探索 Jasmy 是否为日本最佳加密货币 [1]

RT BSCN (@BSCNews)🤯 WHAT HAPPENED TO POLYGON?! Once a sweetheart of the crypto industry, we take a closer look at @0xPolygon and where it stands now... https://t.co/xPiTN3xhly ...

Core Insights - Erebor Bank, a new crypto-focused financial institution, has received preliminary conditional approval for a national bank charter from the OCC, marking a significant development for the banking and crypto sectors [1][2]. Group 1: Approval Details - The OCC's approval establishes a potential path for federally regulated banks to engage with digital assets, emphasizing that the approval does not impose a blanket barrier for innovative financial services [2][3]. - Erebor Bank is the first de novo bank to receive preliminary approval under Comptroller Jonathan V. Gould's tenure, indicating a shift towards accommodating digital asset activities within the federal banking system [3]. Group 2: Bank Operations and Target Market - Erebor Bank aims to be a full-service institution targeting technology companies and ultra-high-net-worth individuals utilizing virtual currencies, and it has received approval to hold limited amounts of non-asset-backed virtual currencies for transaction fees [4]. - The bank was conceived to fill a market void for tech and crypto startups following the collapse of Silicon Valley Bank in 2023, and it will operate without a holding company after merging with its organizing entity, Erebor Group, Inc. [6]. Group 3: Conditions for Final Approval - The OCC's approval is preliminary and conditional, requiring Erebor to meet strict pre-opening requirements, including maintaining a minimum 12% Tier 1 Leverage ratio for its first three years of operation [5].

Core Insights - The proposed merger between Naver and Dunamu could result in a "mega company" with annual profits of $2.1 billion, generating KRW 3 trillion in consolidated operating profits [1][2] Company Overview - Naver is South Korea's largest internet company, and its subsidiary Naver Financial operates various banking and e-payment platforms [2] - The merger aims to combine Naver Financial with Dunamu, which owns the largest crypto trading platform in South Korea, potentially creating Asia's biggest fintech company [3] Market Position and Synergies - The acquisition of Dunamu is expected to allow Naver to fully enter the crypto industry, particularly benefiting from stablecoins that could synergize with Naver's existing advertising, commerce, and fintech businesses [2] - The new firm is anticipated to establish a stablecoin ecosystem centered on Dunamu's exchange business and its GIWA protocol, enhancing its competitive position in both crypto and general payment sectors [3] Future Outlook - A predicted boom in crypto trading activity is expected as the U.S. enters a rate-cut cycle, which may lead to increased trading volumes in Korea [4] - The merger is seen as a way for Naver to explore new growth opportunities, addressing its recent valuation decline due to a lack of new growth engines [4] - Despite regulatory uncertainties, there is a relatively positive atmosphere surrounding the merger [4]