Key Points: Morgan Stanley executive denies Wall Street acts on crypto FOMO. Banks shift from cautious exposure to broader crypto and infrastructure strategies. Morgan Stanley plans to support tokenized equities later this year. Major financial institutions are not suddenly jumping into the cryptocurrency market out of a fear of missing out. According to Amy Oldenburg, the head of digital asset strategy at Morgan Stanley, Wall Street has actually spent years preparing for this exact shift. Speakin ...

Amsterdam-based Flow Traders Ltd., listed on Euronext under the ticker FLOW, has officially rolled out a groundbreaking digital assets over-the-counter (OTC) service. The new platform delivers two-way pricing and execution around the clock for tokenized money-market funds, equities, and commodities.Among the initial assets covered are Franklin Templeton’s BENJI tokenized money-market fund and Tether Gold (XAU₮), the on-chain representation of physical gold.The timing of this launch aligns with accelerating ...

Core Viewpoint - Flow Traders has launched a 24/7 OTC offering for tokenized assets, addressing the increasing demand for reliable access to these assets during extended trading hours [1][2]. Group 1: Company Overview - Flow Traders Ltd. is a leading global trading firm that provides liquidity across multiple asset classes, including digital assets, and has been operational since 2004 [7]. - The company has a strategic investment unit focused on market innovation, aiming to enhance transparency and efficiency in the financial ecosystem [7]. Group 2: Product Offering - The new OTC offering includes two-way liquidity for tokenized money-market funds, equities, and commodities, such as Franklin Templeton's BENJI and Tether Gold [1]. - The offering is designed to support institutions in trading and hedging exposure to tokenized assets, particularly during non-traditional market hours [2][3]. Group 3: Market Context - There is a growing institutional interest in tokenized assets, as they provide opportunities for trading and risk management outside traditional market hours [2]. - The trading volume of tokenized equities and synthetic equity derivatives has reached approximately 2-3% of the notional trading volume of primary U.S. listings for some large-cap stocks [3]. Group 4: Liquidity and Infrastructure - Flow Traders provides 24/7 two-way pricing supported by risk controls tailored for overnight and weekend market conditions [3]. - The OTC platform allows institutions to access liquidity through various connectivity options, including direct FIX connectivity and high-touch OTC execution [4]. Group 5: Future Developments - The asset coverage of the OTC offering will evolve based on counterparty demand, regulatory considerations, and supported venues [5].

Core Insights - Nasdaq is collaborating with Payward, the parent company of Kraken, to create tokenized equities aimed at enhancing "programmable investor engagement" [1] - The initiative is set to launch in the first half of 2027 and seeks to modernize processes such as corporate actions, shareholder engagement, and proxy voting [2] - Tokenized shares will provide holders with "full legal and regulatory equivalence," where the transfer of the token signifies the transfer of the underlying security [2] Company Developments - Nasdaq's plan builds on a tokenization proposal submitted to the SEC last year, which allows customers to trade securities through traditional digital ownership representations, with or without blockchain support [3] - Payward will develop an "equities transformation gateway" with Nasdaq, utilizing its xStocks framework to enable global trading of tokenized public company shares [4] - Nasdaq President Tal Cohen emphasized that this issuer-sponsored approach aims to empower public companies and improve global access to U.S. equity markets [5] Industry Context - The move by Nasdaq aligns with a broader trend towards tokenized stocks in traditional finance, as evidenced by the NYSE's announcement of a blockchain-based platform for trading tokenized equities [5] - The Intercontinental Exchange, parent company of NYSE, recently invested in crypto exchange OKX at a $25 billion valuation, facilitating the trading of tokenized stocks and derivatives on the NYSE [5]

Group 1 - Nasdaq Inc. is planning a new design for tokenized equities, allowing publicly traded companies more control over their shares in tokenized form, including governance rights and corporate actions [1] - The initiative follows a tokenization proposal filed with the US Securities and Exchange Commission in September, aiming to enable equity securities to trade and settle in token form through the Depository Trust & Clearing Corp [2] - Nasdaq has partnered with Payward, the parent company of Kraken, to design a gateway for tokenized equities to facilitate movement between regulated and on-chain markets [2][3] Group 2 - Nasdaq announced a partnership with Seturion, a pan-European settlement platform for tokenized assets, to connect its European trading venues for trading tokenized securities [4] - The New York Stock Exchange, a competitor of Nasdaq, is also developing a venue using blockchain technology for trading tokenized stocks and ETFs around the clock [5]

Core Insights - Major financial institutions and venture capital firms are increasing their investments in the crypto industry despite its volatility, indicating a long-term commitment to digital asset adoption [1][4] Group 1: Traditional Financial Institutions - Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, made a minority investment in crypto exchange OKX, valuing it at approximately $25 billion [2] - Under the agreement, ICE will license OKX's spot cryptocurrency price data to launch U.S.-regulated futures contracts, while OKX will distribute ICE's U.S. futures and tokenized equities markets to over 120 million users [3] - ICE's involvement in the crypto space is further evidenced by its recent investment in Polymarket, the largest prediction market globally [3] Group 2: Venture Capital Investments - Venture capital firms, particularly in Silicon Valley, are raising significant funds for blockchain investments, with Andreessen Horowitz's crypto division reportedly raising around $2 billion for its fifth crypto-focused fund, expected to close in the first half of 2026 [5] - Andreessen Horowitz has been a prominent investor in the sector, with its first crypto fund in 2018 raising $300 million, followed by larger funds, culminating in a $4.5 billion fund in 2022 [6] - The new fund is smaller than its predecessor, reflecting a strategic decision to shorten the fundraising cycle in response to the rapidly evolving trends in the crypto industry [6]

Core Insights - Gate has emerged as one of the largest cryptocurrency exchanges globally, founded in 2013 by Dr. Lin Han, now serving over 49 million users and employing more than 2,000 people [1][3] - The exchange has expanded its offerings to include over 5,000 tokens and a range of traditional financial products, reflecting a shift towards integrating crypto with traditional finance [1][6] Company Growth and Philosophy - Dr. Han emphasizes a product-first philosophy, stating that quality is paramount, with a target of 90% to 95% quality for their offerings [3] - Gate was one of the first exchanges to aggressively list altcoins, providing over 100 options at a time when competitors offered very few [4] Regulatory Expansion - The next phase of growth for Gate is focused on regulated markets, holding licenses in 80 jurisdictions, including 44 US states and over 20 European countries under MiCA [5] - The company aims to increase its user base in regulated areas, acknowledging the challenge of competing with established local players [6] Integration with Traditional Finance - Gate is expanding its services beyond cryptocurrency to include tokenized equities, gold, silver, commodities, and stock indices, all available for trading 24/7 [6] - Dr. Han identifies limitations in traditional markets, such as regional restrictions and limited trading hours, as key drivers for this integration [7]

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bankless nation. Today on the show I have Johan Kerbrat from Robin Hood. He's the general manager of Robin Hood and they are announcing something pretty cool, the Robin Hood chain test net.Uh I think we'll probably get the mainet live sometime this year. Uh but today we're getting the details of Robin Hood test net and everything that comes with it. Uh and so I was able to ask Johan a bunch of questions about what the role of the Robin Hood test net is in the Robin Hood ecosystem.My my idea for this is this ...

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