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Frankfurt, Germany — January 12, 2026 — DZ BANK said Cardano (ADA) would be one of four cryptocurrencies available at the start of meinKrypto, its planned digital wallet and trading service for customers of Germany’s cooperative banks. The announcement followed the bank’s receipt of a Markets in Crypto-Assets Regulation (MiCAR) authorization from German regulator BaFin to operate the platform. What DZ BANK announced DZ BANK said it received the authorization at the end of December 2025. Its January 12 press release named Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Cardano (ADA) as the assets planned for the service’s start. meinKrypto is designed as a wallet integrated into the VR Banking App. The announcement described a planned rollout, not immediate access for every customer. DZ BANK said the service would soon be made available to cooperative banks, which would then have to complete additional steps before customers could use it. Key facts The service is called meinKrypto and is intended for Germany’s cooperative financial network, including Volksbanken and Raiffeisenbanken. The four cryptocurrencies named for the start were Bitcoin, Ethereum, Litecoin and Cardano (ADA). Each cooperative bank would decide individually whether to introduce the service and would need to submit its own MiCAR notification to BaFin. DZ BANK said meinKrypto is for self-directed investors and is not part of its retail investment-advice service. How the rollout was structured The central authorization covered DZ BANK’s operation of meinKrypto. It did not, by itself, mean that every local cooperative bank had activated the service. DZ BANK said each Volksbank or Raiffeisenbank would need to make its own MiCAR notification to BaFin, implement the service and decide whether to offer it. CoinDesk also reported that meinKrypto was intended to be integrated into the VR Banking App and that participating institutions would have to complete their own regulatory notification before providing access to retail customers. Analysis and conclusion Including ADA in the planned asset list gives Cardano a route into a banking app used by customers of participating cooperative banks. The practical significance depends on which banks choose to offer meinKrypto and complete the required steps. The January announcement does not establish that ADA trading became available nationwide on that date. The listing is a product-availability decision, not a forecast for ADA’s price or a recommendation to buy it. DZ BANK described the service as self-directed and outside its retail advisory service. Readers should therefore distinguish regulated access to a cryptoasset from an endorsement of that asset or a guarantee about its value. FAQs Which cryptocurrencies did DZ BANK name for meinKrypto’s start? The January 12 announcement named Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Cardano (ADA). Did the authorization mean every cooperative-bank customer could immediately trade ADA? No. DZ BANK said individual Volksbanken and Raiffeisenbanken had to submit their own MiCAR notification to BaFin, implement the service and decide whether to offer it. The announcement did not set one nationwide activation date. Was meinKrypto described as investment advice? No. DZ BANK described it as a service for self-directed investors and said it was not part of retail investment advice. Does ADA’s inclusion mean DZ BANK expects its price to rise? The announcement makes no price prediction. It identifies ADA as one of the assets planned for the service; it does not describe the listing as a recommendation or assurance of future performance.

IMF Finds Demand for Tokenized Stocks, Warns of Risks Washington, D.C. — October 8, 2026, The International Monetary Fund (IMF) says trading patterns in tokenized stocks point to investor interest in after-hours access and fractional shares, while these markets remain relatively illiquid, fragmented and more volatile than traditional stock markets. What the IMF found about tokenized stocks Tokenized stocks are digital tokens that represent equities on programmable ledgers. In a blog based on Chapter 3 of its October 2026 Global Financial Stability Report , the IMF said more than half of the tokenized-equity trading it examined happened outside traditional market hours. Around 80% of the trades were smaller than one share. The IMF said these patterns suggest investors value access around the clock and the ability to buy less than a full share. They show demand for some features of tokenization, even though the market is still small and developing. Trading access is growing faster than liquidity The IMF also said overnight returns in tokenized equities are reflected in traditional equity prices shortly after regular markets open. It said this suggests the two markets respond to similar information and that overnight price signals can be relevant to traditional trading. But the report says tokenized markets remain relatively illiquid and more volatile than their traditional counterparts. Trading is spread across separate platforms and networks, which can make it harder for buyers and sellers to meet and for prices to form efficiently. The IMF says this fragmentation can contribute to price differences across venues. IMF calls for safeguards as tokenized markets develop The IMF said tokenization could eventually make some financial processes faster and more automated. But it also warned that greater connections between platforms, leverage and round-the-clock activity could create new ways for market stress to spread, including through liquidity runs and forced asset sales. The IMF said policymakers should clarify the legal rights attached to tokenized assets, apply comparable rules to similar activities regardless of technology, support links between tokenized and traditional systems, and monitor risks as the market grows. The report does not set a timetable for these measures. Analysis The IMF’s findings suggest tokenized stocks are meeting some investor needs, especially after-hours access and fractional trading. But interest in these features does not yet mean the market is deep or stable. Fragmented platforms and thin liquidity may leave prices more volatile than those of traditional shares. The report points to legal clarity and better links between trading systems as important conditions for safer growth. If tokenized markets expand, their benefits could grow alongside risks such as liquidity stress and shocks spreading between platforms. For now, the IMF’s message is that market infrastructure and safeguards need to develop alongside demand. Frequently Asked Questions About Tokenized Stocks What are tokenized stocks? Tokenized stocks are digital tokens that represent stocks or equity interests, with ownership records maintained on a blockchain or similar digital ledger. Their legal structure and holder rights can vary. SEC Investor.gov explains tokenized securities . What did the IMF find about demand for tokenized stocks? The IMF reported that more than half of the tokenized-equity trading it examined occurred outside traditional market hours. Around 80% of the trades were smaller than one share—patterns the IMF said suggest interest in extended-hours access and fractional trading. Can tokenized stocks be traded outside regular market hours? Some tokenized-equity trading takes place outside traditional market hours, according to the IMF. Trading hours and availability depend on the specific product and platform, so check their terms. Do tokenized stocks always provide the same rights as regular shares? No. Rights depend on how a token is structured. The SEC describes issuer-sponsored and custodial models, as well as synthetic tokens that may provide price exposure without rights in the referenced company. Review the product’s disclosures to understand what the token represents. Are tokenized stocks more volatile or less liquid? The IMF says tokenized markets remain relatively illiquid and more volatile than traditional markets. It also warns that trading split across platforms and networks can weaken liquidity and affect price formation. The IMF discusses these market risks . Are tokenized stocks regulated by the SEC? In the United States, the SEC says tokenized securities remain subject to securities laws; changing the format in which a security is recorded does not by itself change how those laws apply. The rules and rights involved can depend on the product’s structure. What risks could grow as tokenized markets expand? The IMF warns that greater interconnectedness and leverage could create channels for financial stress to spread, including liquidity runs and forced asset sales. It recommends legal clarity, links between systems, and safeguards that keep pace with market growth.

Bitcoin’s 42.5% Q3 Rally Needs Stronger Spot Demand as ETF Inflows Slow, Futures Leverage Falls, Bitfinex Says Bitcoin October 1, 2026 — Bitcoin gained 42.5% in the third quarter, but Bitfinex says another sustained advance will need stronger spot demand, meaning purchases will be made directly in the market rather than through leveraged futures positions. What happened In its September 30 Bitfinex Alpha analysis, the exchange said Bitcoin was on course for its strongest quarter since the fourth quarter of 2024 and its second-strongest third quarter since 2013. Bitcoin opened the quarter at $58,585. The report said futures open interest, a measure of outstanding futures contracts, had fallen to its lowest level since March. Implied volatility was also near a one-year low, while exchange-traded fund (ETF) inflows had slowed to roughly the pace of new Bitcoin issuance. Why Bitcoin spot demand matters Bitfinex said lower leverage can reduce the risk of a sharp, liquidation-driven fall, but it does not create new buyers. In its assessment, the next sustained move must therefore be led by the spot market. Bitcoin-denominated futures open interest fell from more than 700,000 BTC on September 21 to 644,000 BTC on September 29. The October futures contract carried an annualized premium of 5.1%, reducing the incentive for some basis trades. Bitfinex said the $84,000–$86,500 cost-basis band contained about 1.39 million BTC, creating a significant area of potential selling near breakeven. ETF inflows continued but slowed Bitfinex said Bitcoin ETFs recorded nine consecutive sessions of inflows totaling $3.08 billion. However, its absorption-to-emission ratio fell from 25.6 times new issuance on September 21 to 1.8 times on September 29. The report said the ratio would need to recover toward five times, or about $190 million per day, to absorb the overhead supply between $84,000 and $86,500. Corporate buying remained positive in the report’s data. Bitfinex said Strategy bought 1,665 BTC at an average price of $85,681, while Strive added 1,107 BTC at an average price of $85,396. What a move above $85,000 could mean According to the analysis, Bitfinex said the $82,500–$84,000 cost-basis band grew from about 110,000 BTC on September 27 to 306,000 BTC on September 30, which it interpreted as spot buyers absorbing supply. A move above $85,000 would return the 760,000 BTC held between $84,000 and $85,000 to profit. Independent coverage by Crypto.news reported the same assessment: reduced leverage may limit liquidation risk, but it does not automatically provide the demand needed for a further rise. What happens next Bitfinex’s base case was for Bitcoin to build on the $82,500–$84,000 cost basis while $84,000–$86,500 capped advances until ETF absorption recovered. The report said a sustained move below $81,300, combined with ETF outflows, would change that view and bring the $77,000 True Market Mean into focus. These are Bitfinex’s market scenarios, not guaranteed outcomes.

Hyperliquid’s community event in Singapore on Oct. 5 has reached capacity, with the protocol’s official account saying the gathering is oversubscribed and the event listing directing additional applicants to a waitlist. Key facts The private event is scheduled for the evening of Oct. 5 in Singapore, according to Hyperliquid’s official X account. Hyperliquid said on Sept. 30 that the event is oversubscribed and that only attendees whose RSVPs were accepted will be admitted. The official Luma listing shows registration as “Event Full” and offers a waitlist for additional spots. The listing says RSVP is required and that the location and further event details will be shared closer to the date. Hyperliquid says its grassroots community has held local meetups, conferences and developer gatherings in more than 20 countries. Event status Hyperliquid announced the demand update in a post on X on Sept. 30. The post described the event as an opportunity to spend time with builders and users who have shaped the ecosystem. It also asked accepted invitees who can no longer attend to cancel their RSVPs so that places can be offered to others. The Luma page identifies the gathering as “Hyperliquid Community Event 2026” and labels it a private event. It does not publish a capacity figure, attendee count, venue or schedule beyond the event date. Instead, it states that further location and event information will be released nearer to the event. Community context Hyperliquid’s official “About” page describes its local communities as grassroots groups led primarily by Hypurr Collective and HL Global. The page says those groups have organized events in more than 20 countries. It separately identifies Hyperliquid Labs as the team leading core development of the Hyperliquid blockchain and the Hyper Foundation as supporting the ecosystem’s long-term growth and decentralization. The full registration status comes during a week of other Hyperliquid-related activity in Singapore. Crypto.news reported in July that the Hyperliquid Forum by DAYS is scheduled for Oct. 6 at Raffles Hotel Singapore. Coinpedia’s event listing also gives Oct. 6 as the date and describes the forum as a one-day gathering for institutional investors, traders, builders and other digital-asset participants. The forum is separate from the Oct. 5 private community event. According to Crypto.news, the Oct. 6 forum’s Singapore program was expected to include more than 120 institutional participants from 95 firms across 16 countries, including 60 capital allocators. Those figures apply to the institutional forum, not to the private community event. Neither Hyperliquid nor the Luma listing has published a comparable attendance estimate for Oct. 5. What’s next For the Oct. 5 gathering, attendance now depends on an accepted RSVP, while people without a place can join the Luma waitlist. Hyperliquid’s official announcement does not say whether more tickets will be released. The event listing says waitlisted users will be notified if additional spots become available.

Eligible overseas Binance Pay users visiting Japan can use the service to pay at PayPay-supported merchants nationwide from September 30, 2026. The connection runs through HIVEX, a payment interoperability network, while participating merchants continue to receive settlement in Japanese yen. Crypto payments through local QR rails The launch gives visitors a way to use Binance Pay for purchases at millions of PayPay-accepting locations, covering everyday travel spending such as meals, shopping and accommodation. The arrangement connects an overseas crypto-payment app to Japan’s domestic QR acceptance network; it does not require merchants to handle or hold cryptocurrency. For consumers, the change is designed to bring crypto balances into an ordinary checkout flow. PayPay’s overseas-payment setup lets customers use a PayPay QR code and enter the purchase amount in yen, with the payment service handling currency conversion. Binance Pay users can spend supported digital assets, including USDT, at locations that accept the relevant QR payment method. Availability may depend on the merchant and the user’s eligibility; the announcement does not say every PayPay location or every Binance Pay account is covered. At a glance Start date: September 30, 2026. Who can use it: Eligible overseas Binance Pay users visiting Japan. Acceptance: PayPay-supported merchant locations nationwide, connected through HIVEX. Settlement: Merchants continue to receive Japanese yen, rather than crypto. Potential reach: Approximately 48 million eligible Binance Pay users in more than 100 countries and regions. Not the same as PayPay Money on Binance Japan The new visitor-facing payment option follows a separate integration between PayPay and Binance Japan, the locally registered crypto exchange. That earlier service lets verified Japan-based Binance Japan customers use PayPay Money and PayPay Points to fund crypto purchases and receive yen proceeds from sales back into PayPay. A feature added in April 2026 also allowed users to prefund Binance Japan accounts with PayPay Money for trading. The distinction is important: those services move yen and PayPay balances into or out of a crypto-trading account. The HIVEX rollout instead enables eligible international visitors to pay participating Japanese merchants through Binance Pay. It broadens how visitors can use an existing digital-asset wallet, without turning PayPay itself into a crypto wallet or changing how merchants receive funds. Part of a wider inbound-payments network PayPay has been connecting its QR merchant network to payment services used abroad as Japan seeks to accommodate visitors who prefer apps from home. The September rollout places Binance Pay alongside cross-border payment services already linked through the same general infrastructure. It also marks a practical use of the partnership between crypto platforms and established local payment systems: customers pay through a familiar digital interface, while shops remain on yen-based settlement. In early September, PayPay said its network supported 36 cashless payment services from 17 countries and regions, offering another option for visitors who prefer to use a payment app from home. The feature is available from September 30. Travelers should check their Binance Pay app for regional eligibility and supported assets before relying on it at checkout, and look for participating PayPay QR acceptance at the merchant.

The Commodity Futures Trading Commission registered Coinbase Clearing LLC as a derivatives clearing organization on September 28, giving Coinbase its own clearinghouse for a limited range of derivatives. Coinbase describes the unit as the first USDC-native clearinghouse and says it is designed for USDC collateral and 24/7 settlement. What does the CFTC registration allow? The CFTC’s public registration record permits Coinbase Clearing to clear fully collateralized futures, options on futures and swaps. A derivatives clearing organization, or DCO, sits between counterparties to help manage credit risk and settle or net obligations. Under the federal definition, a fully collateralized position requires the clearinghouse to hold enough funds at all times to cover the maximum possible loss on a contract at liquidation or expiration. The registration does not authorize Coinbase Clearing to clear margined products under this scope. How does the new clearinghouse fit into Coinbase’s derivatives business? Coinbase already operates a futures exchange, Coinbase Derivatives LLC, and a futures commission merchant, Coinbase Financial Markets Inc. Adding Coinbase Clearing completes its U.S. derivatives structure with an exchange, broker and CFTC-registered clearer under the Coinbase umbrella. Coinbase says the new entity will use USDC collateral and support settlement around the clock. The CFTC’s registration record establishes the entity’s status and permitted contract classes; the USDC-native and 24/7 design details come from Coinbase’s description of its intended operation. Coinbase’s application says it plans to clear contracts traded on designated contract markets and swap execution facilities that agree to its rules and risk requirements. It anticipates serving market participants directly and customers of futures commission merchants that become clearing members, so registration alone does not give every Coinbase customer access. What remains outside the approval? The registration is narrower than a general authorization for all Coinbase derivatives. Coinbase says it will continue using outside clearing partners for its margined derivatives business and planned single-stock perpetuals. Clearinghouse status: Registered by the CFTC on September 28, 2026. Permitted scope: Fully collateralized futures, options on futures and swaps. Collateral and settlement model: Coinbase describes the new entity as USDC-native, with 24/7 settlement. Not included: Coinbase’s margined derivatives and planned single-stock perpetuals remain with outside partners. Round-the-clock derivatives activity itself is not new to Coinbase. Nodal Clear announced in May 2025 that it had begun clearing selected cryptocurrency futures on Coinbase Derivatives for 24/7 trading. The latest approval changes who can clear a defined set of fully collateralized products; it does not establish that all Coinbase contracts will move to the new clearinghouse. When will products begin clearing through Coinbase Clearing? The CFTC registration is in place, but Coinbase has not published a product-by-product launch timetable or identified the first contracts that will clear through the new unit. Traders and clearing members will need further details on product availability, collateral procedures and onboarding before the approval translates into access to specific contracts. The application anticipated clearing services upon registration; the public materials do not specify which contracts or date will mark the customer-facing rollout.

Citigroup and Coinbase are expanding their payments partnership with two services designed to link bank accounts and stablecoins for businesses. Coinbase will use Citi banking infrastructure for virtual accounts that convert incoming fiat into stablecoins, while Citi’s institutional merchants will be able to accept stablecoin payments and receive fiat settlement. The initiatives are launching first in the United States. Two services connect fiat and digital payments The first product, Coinbase Virtual Accounts, will use Citi Services’ Virtual Account Wallet, offered through its Banking-as-a-Service capabilities. The accounts are intended to let Coinbase payments customers accept, hold and send funds with bank-account-like functionality. Incoming fiat is automatically converted into stablecoins, creating a bridge between conventional bank payments and digital assets. The second initiative brings stablecoin checkout to Spring by Citi, the bank’s payment acceptance platform. Coinbase Payments will handle the stablecoin acceptance and conversion into fiat. Citi will settle the resulting funds as the bank of record, allowing merchants to serve customers paying in stablecoins without directly holding, safeguarding or managing those tokens. What the arrangement means for merchants The model separates the customer’s payment method from the merchant’s settlement currency. A buyer can pay with a stablecoin, while the business receives fiat through Citi’s existing banking relationship. That could let companies accept digital-dollar payments without building their own wallet, conversion process or stablecoin custody operation. The virtual-account product addresses a related but different flow: a business receives fiat into a payment account and converts it automatically into a stablecoin. Together, the services cover movement in both directions between traditional money and blockchain-based payment rails, though the companies have not published transaction limits, fees or a detailed customer rollout calendar. Key details Coinbase Virtual Accounts use Citi’s Virtual Account Wallet and automatically convert incoming fiat to stablecoins. Spring by Citi will support stablecoin checkout for Citi institutional clients, with fiat settlement through Citi. Merchants are not required to hold or manage stablecoins directly under the described payment flow. The initial launch is in the United States, with additional capabilities planned for later months. From an exploratory deal to payment products The companies first announced their collaboration in October 2025, initially focusing on fiat pay-ins and payouts, payment orchestration and ways to improve access to digital-asset payments. The latest announcement moves the relationship toward specific services for business customers rather than a general exploration of potential use cases. The deal also draws on distinct roles: Citi supplies regulated banking and merchant-settlement infrastructure, while Coinbase provides payment technology for the stablecoin side. The design aims to let businesses use digital payment options without replacing their existing banking operations. U.S. rollout comes first Both companies say the initiatives will launch first in the United States and that they will continue developing additional capabilities. They have not announced a full timetable for wider availability or specified which stablecoins and customer segments will be supported at launch. Those details will determine how quickly the partnership moves from newly announced infrastructure to routine use by merchants and businesses.

Chainlink is developing a connection that will let financial institutions link their systems and transaction-signing infrastructure to Swift’s blockchain ledger, extending the network’s tokenized-deposit payment initiative. The proposed setup is designed to help banks coordinate cross-border transfers around the clock while retaining control over transaction approvals and keeping deposits on their own ledgers. How the connection is designed to work The Chainlink Runtime Environment, or CRE, will coordinate workflows between a bank’s systems and Swift’s ledger. Under the described self-signing model, banks—not the intermediary workflow—retain the keys used to authorize transactions. Chainlink says institutions can manage smart-contract activity both on their own ledgers, where their tokenized deposits reside, and on Swift’s shared ledger. The approach is intended to fit within banks’ existing security governance , approval procedures and operating models. Chainlink has described the work as enabling institutions to connect; it has not said that the new connection is already broadly deployed across participating banks. What the Swift ledger does—and does not do Swift’s ledger provides a shared coordination layer for participating institutions to move tokenized deposit obligations, including overnight and on weekends. The deposits remain on the issuing banks’ own ledgers and balance sheets. The shared layer coordinates payment activity before final settlement, rather than replacing the underlying settlement systems. That distinction matters: 24/7 payment coordination does not necessarily mean every transfer is finally settled on-chain at the same moment. Swift’s model preserves existing settlement arrangements, including real-time gross settlement systems where agreed, and does not replace its established role as a global financial messaging network. Key facts Swift announced in July that its ledger was ready for initial use. Seventeen banks spanning six continents were preparing to pilot live tokenized-deposit transactions. Swift’s network reaches more than 11,500 financial institutions and corporates across over 200 markets. The first use case is cross-border payments designed to operate at any hour, including weekends. From pilot infrastructure to wider access Swift developed the ledger with input from more than 40 financial institutions, moving from concept to activation in nine months. The initial use is controlled and focused on pilots, rather than a universal replacement for existing payment channels. Participating banks include Citi, HSBC, UBS, BNP Paribas, ANZ, DBS, Standard Chartered and Wells Fargo. The Chainlink work addresses a practical interoperability problem: banks may need a way to connect internal systems and signing controls to shared infrastructure without abandoning their current processes. Its CRE-based workflow is positioned as that connection layer, while Swift supplies the shared ledger and established network reach. What comes next The next test is whether banks move from pilot transactions to broader, repeatable use, and how the connection performs across different institutional systems and approval frameworks. Swift has said the ledger will expand in functionality and availability after its initial controlled go-live phase. No rollout timetable for Chainlink’s integration across the participating banks has been specified.

Aave V4 has opened a Base market where eligible non-U.S. users can deposit seven Coinbase tokenized U.S. stocks as collateral to borrow USDC, according to Aave’s Sept. 25 launch announcement. The arrangement gives holders a borrowing route against the tokens without enabling the stocks themselves as borrowable assets. Key facts The supported tokens are AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc and TSLAc, representing Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla, Aave said. The market is on Base and accepts the seven tokens as collateral for USDC loans; USDC is the only borrowable asset at launch. Aave’s launch materials say the securities are offered under Regulation S to eligible non-U.S. persons in permitted jurisdictions, excluding U.S. persons. Initial parameters set a $32 million USDC supply cap and a $21 million borrowing cap. Those are limits, not reported deposits or outstanding loans. Collateral factors range from 65% to 79% across the seven tokens, according to Aave governance materials and The Defiant. Market design Aave said the Equities Hub combines the seven collateral assets in one lending spoke with a single USDC reserve. Users may combine eligible stocks as collateral, but borrowing the stock tokens and equity-against-equity positions are not enabled at launch. Aave describes the Coinbase Tokenized Stocks as securities issued by Coinbase Onchain SPV Ltd., with underlying shares held in segregated custody accounts by Alpaca Securities LLC. Aave says token holders receive economic exposure to the underlying equities. The assets are not available to U.S. persons and remain subject to permitted-jurisdiction restrictions. Chainlink’s documentation says the feed combines the underlying share price with an issuer multiplier that reflects dividend conversions and corporate actions. Aave says dividends are reinvested rather than paid directly, and that reserves can pause during stock splits until the updated multiplier is applied. Chainlink provides on-chain pricing for the collateral, according to Aave and Chainlink’s documentation. Aave says the feeds publish on a 24/5 schedule, from Sunday at 8 p.m. to Friday at 8 p.m. Eastern time, and retain the last published price over weekends and U.S. market holidays, while the lending market remains open. CryptoSlate highlighted that gap as a potential source of repricing risk when feeds resume; it did not report a realized loss from the launch. Risk limits and next steps The $21 million borrowing cap and $32 million supply cap appear in Aave governance materials; The Defiant also reported them as initial limits. The governance risk assessment lists asset-specific collateral factors from 65% for METAc and TSLAc to 79% for MSFTc. LlamaRisk, Aave’s risk service provider, said the initial caps were constrained by liquidity available to liquidators. The figures are market parameters, not measures of current utilization. Aave said additional Coinbase tokenized stocks and GHO, its stablecoin, may be considered for the market, subject to governance and risk review. The project did not provide a schedule for those potential additions.