The SEC issued a no-action letter to Franklin Templeton regarding its onchain money market fund 🏦 The fund is identified as $FOBXX. Upcoming SEC regulations are expected regarding token sales. The institution is part of a trend moving toward asset tokenization.

Wells Fargo plans to launch tokenized deposits for select corporate and commercial clients 🏦 The service will initially support transfers in USD and GBP. The bank intends to provide 24/7 settlement and programmability for these assets. The rollout is expected to occur this fall.

The FDIC granted deposit insurance approval to Augustus National Bank 🏦 The proposed institution intends to integrate conventional banking with digital asset services through its Juno Moneta subsidiary. Augustus plans to offer stablecoin issuance, custody, and payments. This approval follows recent regulatory shifts by the OCC and Federal Reserve regarding bank engagement in crypto-related activities.

Glacis Labs operates ZeroDelta as an institutional clearing house for stablecoins and tokenized assets 🏦 The platform settles trades across more than 40 chains using a burn-and-mint mechanism. ZeroDelta incorporates automated KYC, whitelisting, and transfer restrictions to manage offsetting institutional flow. The system utilizes netting to facilitate settlement for these digital assets.

Western Union launched a stablecoin-linked Visa card 🔗 Circle reported a 151% year-over-year increase in USDC on-chain transaction volume. Total USDC on-chain transaction volume reached $14.8 trillion. Mastercard acquired BVNK for $1.5B while Wells Fargo announced the rollout of tokenized deposits for corporate clients.

Banks are using The Clearing House to settle tokenized deposits onchain 🏦 JPMorgan, Citi, and Bank of America utilize traditional netting and liquidity savings mechanisms for these settlements. Fintech infrastructure providers Glacis Labs and Ubyx aim to bring netting capabilities to the stablecoin ecosystem. These developments target the prefunding requirement inherent in instant gross settlement.

Banks and industry groups requested the FDIC mandate stablecoin issuers police wallets 🧾 The ICBA and Bank Policy Institute provided feedback on proposed rulemaking for payment stablecoin issuers. The discussions focus on AML and sanctions monitoring of secondary-market wallet activity. The feedback addresses compliance responsibilities and redemption process complexities between issuers and banks.

Circle reported Q2 2026 USDC circulation grew 19% to $73.3 billion 📊 The company's institutional user base includes BlackRock and BNY. Circle introduced the Agent Stack to facilitate programmable payments for autonomous AI agents. The results show USDC growth occurred despite a broader crypto market decline.

BlackRock launched its first European tokenized money market funds 🏦 The launch introduces digital share classes for six existing funds in the BlackRock Institutional Cash Series across USD, EUR, and GBP. Implementation utilizes Kinexys by JPMorgan for the underlying infrastructure. The funds are UCITS-compliant money market funds.

BlackRock introduces two new tokenized money market offerings 🏦 The offerings include OnChain Shares of the BlackRock Select Treasury Based Liquidity Fund and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle. These products are intended to provide high-quality reserve assets for stablecoins and tokenized products. The firm manages $60 billion in reserves for Circle and currently operates the BUIDL fund.

Dakota has applied for an OCC national trust bank charter 🏦 The application seeks to support digital asset custody and stablecoin issuance. M1X has launched on-chain sovereign bonds backed by US Treasuries. AIsa uses Circle's USDC for machine-to-machine micropayments.

Project Agorá achieved an average settlement time of 80 seconds during real-value testing 🏦 The Bank for International Settlements conducted testing involving 28 financial institutions. The process utilized a shared platform featuring tokenized reserves and deposits for atomic settlement. The project demonstrated the feasibility of tokenized wholesale cross-border payments.

BNY moves $8.6 trillion of fund records onchain 🏦 Ten European banks have launched RL1, a member-owned permissioned blockchain. Morgan Stanley launched low-fee staked Ethereum and Solana ETFs. Institutional focus is shifting toward tokenized bank deposits for settlement.

Augustus is pursuing a national banking charter to build an API-first clearing bank 🏦 The proposed model utilizes stablecoins alongside traditional payment rails. This approach seeks to challenge existing legacy correspondent banking models. Regulatory approval and central bank access remain necessary for the implementation of this clearing bank.

BNY has introduced digital transfer agency capabilities for traditional and digitally native funds 🏦 The platform supports fund subscriptions and redemptions using both fiat and stablecoins. Integrated tokenization, distribution, and custody features enable onchain mobility for real-world assets. New mint and burn capabilities are included in the digital transfer agency offering.

Marqeta and Zero Hash partner to launch stablecoin-linked cards 🔗 The partnership allows customers to embed stablecoin payments into existing card programs. Augustus raised $180m to provide 24/7 settlement between traditional systems and blockchains. Augustus is targeting the correspondent banking franchise with these settlement rails.

BNY aims for 24/7 US Treasury settlement by 2027 🏦 The custodian bank conducted an after-hours test using Ripple's RLUSD and OpenEden's USDO reserves. BNY plans to deploy tokenized Treasuries on blockchain rails by the end of 2026. The initiative targets the elimination of weekend settlement gaps for the US Treasury market.

FATF urges jurisdictions to apply AML rules to DeFi platforms with identifiable controllers 🧾 The report focuses on entities retaining control via governance tokens, administrative privileges, or upgrade keys. Compliance efforts may target choke points including stablecoin issuers and front-end operators. DeFi total value locked has reached $86.6 billion, though few jurisdictions have implemented specific licensing standards.

DTCC has processed its first live tokenized stock, ETF, and Treasury trades 🏦 The entity has moved from the pilot phase into real-world application for these asset classes. BCG forecasts $88 trillion in tokenized assets by 2035. The transition is described as an infrastructure shift focused on collateral and repo markets.

The Digital Asset Market Clarity Act proposes new regulatory boundaries for stablecoin rewards 🧾 The legislation distinguishes between passive interest on stablecoin holdings and activity-based rewards. Proposed rewards apply to transactions, liquidity provision, or risk-taking. This distinction is intended to prevent stablecoins from being treated as uninsured bank deposits.