US Banks Talk Joint Stablecoin
Reports have surfaced that huge US banks such as JPMorgan, Bank of America, Citigroup and Wells Fargo have been in discussion about the possibility of jointly issuing a stablecoin. Things are still in early stages but with the recent US Senate voted 66-32 in favor of advancing the stablecoin-regulating known as the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) it's clear that stablecoins are getting alot of attention. David Sacks the White House crypto czar said he expects the GENIUS act to be passed quickly over the next few days. With the demand for stablecoins up 20% from the start of the year, the traditional finance industry is looking for ways to capitalize on stablecoins and not get left in the dust.
Kraken Launches Onchain Tokenized Equities
Kraken announced that they plan to launch and offer tokenized equities to their clients. Backed by xStocks Kraken will start off with approximately 50 popular US listed stocks and ETFs that will have the ability to trade onchain 24/7 on the Solana blockchain. Kraken will only offer these to markets outside the US, however as US regulators have been more supportive of crypto recently the expectation is it will be open to US clients sooner than later. No word yet on when this will be available but a release date is expected soon by Kraken.
Quick Hits
- Texas Governor Abbott states he will sign Bitcoin Reserve Bill
- SEC considering Bitcoin Index options trading on Nasdaq.
- Strategy to raise $2.1 Billion to buy more Bitcoin.
- Semler Scientific bought another $50 million in Bitcoin.
Remember Crypto Never Closes!
