Digital asset adoption is accelerating.
This past week delivered key developments spanning Fed supervisors signaling blockchain adoption to BNY and Goldman entering the stablecoin reserve business - the shift is clear: traditional finance is embracing tokenization.
Here's what you need to know. 👇
1️⃣ Federal Reserve Vice Chair for Supervision Michelle Bowman signals "Change is coming".
At the Wyoming Blockchain Symposium, Michelle Bowman, Vice Chair for Supervision at the Fed, gave a speech that signalled bank regulators must move beyond skepticism and embrace blockchain, recognizing their substantial potential to enhance efficiency, safety, speed, and customer experience in financial services.
2️⃣ BNY and Goldman Sachs plan to enter stablecoin reserve management business.
BNY and Goldman plan to launch a "stablecoin reserve fund" investing and managing reserve assets exclusively for GENIUS-compliant stablecoins.
3️⃣ DBS launches tokenized structured notes on Ethereum.
DBS launches tokenized structured notes on Ethereum to eligible investors on third-party digital investment platforms and digital exchanges: ADDX, DigiFT and HydraX.
4️⃣ State Street provides custody for JPMorgan's Digital Debt Services.
State Street became the first third-party custodian live on J.P. Morgan's Digital Debt Service, built on Kinexys Digital Assets. The capability launched with a $100 million commercial paper issuance by OCBC.
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