5h ago
THE CONVERGENCE NEWSLETTER ISSUE #2: Oct 20th-27th
IBM Fidelity enables SOL purchases, Zelle and Western Union piloting stablecoin initiatives, Aave + Maple teaming up to bring more RWAs on-chain, and much more. Institutional and retail crypto are converging – let’s dive in 📰⬇️
Institutional Adoption 🏦→ 👥
> @IBM introduces unified blockchain service for banks, governments, and enterprises
> Japan's JPYC launches country's first yen-denominated stablecoin
> $2.6 trillion @Citi partners with @coinbase to improve "stablecoin utility & digital asset adoption for its clients."
> President Trump picks pro-crypto Michael Selig to chair the CFTC
> Canada advances stablecoin framework ahead of next week's federal budget update
> Cryptocurrency to be recognised as 'property' under Indian law: Madras High Court
> @WesternUnion to pilot stablecoin-powered transfers for its customers across 200+ countries
> Payments processor Zelle to allow crypto stablecoins for international transactions
> The Federal Reserve is studying a new “payment account” model that would give fintech and crypto firms limited access to Fed payment rails without full banking privileges
> @Fidelity, the asset manager with $5.8 Trillion in AUM, makes $SOL accessible for all US brokerage customers
> UK's ClearBank joins Circle to allow European users access to stablecoin payments like $USDC and $EURC
Crypto-Native Expansion 👥→ 🏦
> @pendle_fi ( $PENDLE ) Settles $69.8 Billion in Yield Bridging the $140T Fixed Income Market to Crypto
> @aave ( $AAVE ) and @maplefinance ( $SYRUP ) are establishing a strategic partnership that brings institutional assets to the largest onchain lending market
> Equity perps went live on the @HyperliquidX ($HYPE) front end
> @Aster_DEX announces an $ASTER buyback of 70-80% of S3 fees
> Aave Labs acqui-hires Stable Finance team to build consumer-friendly DeFi apps
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