Money & Markets
Visa’s Korean Pivot: Building the Rails for an Agentic Future
The payments giant is quietly assembling a multi-layered stablecoin infrastructure in Asia, with Dunamu and Shinhan Financial leading the charge.
◆ Nolan Pratt
Beat
Money & Markets
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Money & Markets
Mirae Asset’s $109 Billion Crypto Pivot Hinges on a 0.5% Market Share Exchange
South Korea's largest asset manager acquired Korbit, the country's oldest crypto exchange, and rebranded it Digital X. The gap between ambition and execution is the story.
◆ Nolan Pratt
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Money & Markets
Canton Network Gets Its $4B Cash Leg as WLFI’s USD1 Goes Native
The Trump-backed stablecoin's native deployment on the institutional settlement network completes the plumbing Tradeweb and Virtu just proved works — but Binance concentration and political baggage complicate the picture.
◆ Nolan Pratt
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Money & Markets
Tradeweb and Virtu Just Ran the First Fully Onchain Repo. The Plumbing Is the Story.
The $12 trillion daily repo market got its first atomic settlement demo on Canton Network, using a Marshall Islands sovereign bond backed by U.S. Treasuries. When Nasdaq-listed infrastructure moves onchain, tokenized collateral stops being experimental.
◆ Nolan Pratt
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Money & Markets
39 State Banking Associations Are Building Their Own Blockchain. The Technology Partner Is Still TBD.
The BankChain Alliance unites nearly every state bankers association in the country behind a permissioned network targeting 2027 — the same window the GENIUS Act enforcement begins. But the consortium has no technology partner yet, and the big-bank networks are already ahead.
◆ Nolan Pratt
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Money & Markets
Coinbase’s Tokenized Stocks Are Live on Base. The SEC’s Framework Isn’t.
The exchange launched 13 tokenized U.S. equities on Base with full DeFi integration and shareholder rights — under Abu Dhabi's regulatory umbrella, not America's. Day-one volume hit $10.8 million while the SEC's innovation exemption remains stuck in political gridlock.
◆ Nolan Pratt
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Money & Markets
The CFTC’s Crypto Fallback Faces a Credibility Test
With the CLARITY Act's Senate prospects dimming, Chairman Selig is dangling a regulatory alternative. The industry's silence on the comment docket suggests they aren't buying it — or they're waiting for the September 15 vote.
◆ Nolan Pratt
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Money & Markets
Ethena and FalconX: Institutionalizing the USDe Yield Pipeline
The $1 billion warehouse facility marks a definitive pivot from crypto-native basis strategies toward diversified, overcollateralized institutional credit.
◆ Nolan Pratt
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Money & Markets
Ripple Is Turning RLUSD From a Payment Token Into Institutional Lending Collateral
A new credit fund backed by Ripple, Clearpool, and Cicada Partners will lend RLUSD to fintech and payments firms on the XRP Ledger — the first institutional lending product to use the stablecoin as collateral. The catch: it depends on two protocol amendments that haven't passed yet.
◆ Nolan Pratt
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Money & Markets
Rain’s Agentic Payments Alliance Is Writing Agent Commerce Standards While Congress Stalls
Visa, Mastercard, Circle, Solana, and 22 other founding members are building the de facto governance framework for how AI agents spend money — the same playbook The Clearing House used for tokenized deposits.
◆ Nolan Pratt
