Binance has invested $100 million in stablecoin issuer Circle, acquiring 1,237,011 shares of Class A common stock at $80.84 per share. The deal includes a five-year commercial agreement to promote USDC adoption, with Binance receiving monthly incentive fees based on wallet usage. Binance is subject to a two-year lockup period on these shares.
Six major Canadian banks, including Bank of Montreal, CIBC, and Royal Bank of Canada, are collaborating to develop tokenized Canadian dollar deposits. This project aims to create a new payment rail for interbank transfers. Regulators have clarified that these tokenized deposits maintain the same legal status as traditional bank deposits.
Cross-border stablecoin transactions grew by 77.5% to $220.3 billion in the year ending in June, according to Chainalysis. During this period, the total crypto market capitalization declined by 37% to $2.1 trillion. Data suggests these flows are primarily driven by trade and remittances rather than speculation.
Blockchain.com and the New York Stock Exchange are partnering to launch an alternative trading system for tokenized US stocks and ETFs. The initiative follows the SEC's introduction of a five-year Innovation Exemption for tokenized securities. Currently, the market for tokenized stocks is valued at $3.14 billion with 3.87 million holders.
