If there was a theme for this week’s Crypto Biz, it’s a steady march of traditional funds that goes deeper into Crypto’s core infrastructure.
Tether is reportedly courting major ventures for a funding round that could potentially cherish Stablecoin publishers along with private tech giants like Openai. At the same time, US regulators are considering whether traditional stocks should exchange Ontin.
Elsewhere, JPMorgan’s Kinexys platform added the major Gulf Bank as users, while the biotechnology company registered with NASDAQ has built a full Ministry of Finance around the Depin Token.
Softbank, Ark has been communicated to the eye investment in Tether’s mega funding round
Bloomberg said well-known investors could value Stablecoin issuers at up to $500 billion in talks with Bucktether’s upcoming funding round.
Venture Capital Firms Softbank Group and Ark Investment Management are among those considering taking part in the potential $20 billion salary increase. If completed, the round will perform a round evaluation on par with major private companies such as Openai.
Tether CEO Paolo Ardoino confirmed that the company is investigating pay raises from “a popular investor selection group,” but he did not provide details on the structure of the transaction.
Tether, the world’s largest publisher of Stablecoin USDT (USDT), is one of the most profitable companies worldwide, per employee. The company has expanded beyond its core stub coin business to areas such as infrastructure, energy production and venture capital investments, diversifying revenue streams beyond interest income.
The SEC considers that inventory can be traded on-chain
In line with recent recognition of tokenization as an “innovation,” the Securities and Exchange Commission is reportedly investigating plans to enable on-chain trading via approved crypto exchanges.
The development was first reported by information, but said the proposal remains in the early stages and will only apply to regulated digital asset platforms. When adopted, this framework allows a broader group of traders to access stocks and expand availability beyond traditional market time.
Interest in tokenized securities has been growing in recent months, with platforms like Robinhood and Kraken introducing tokenized stock products. Meanwhile, the NASDAQ Exchange has applied for a change to the SEC rules that will allow to list tokenized securities on its platform. Coinbase is also reportedly seeking SEC approval to provide similar products.
Katari Bank adopts JPMorgan’s blockchain platform
Qatar National Bank Group (QNB) uses JPMorgan’s Kinexys blockchain platform to process US dollar payments for businesses more quickly and efficiently, highlighting the growing role of blockchain in traditional finance.
Kamel Moris, executive vice president of transaction banking at QNB, told Bloomberg that development is a “treasurer’s dream” and cites the platform’s ability to operate 24 hours a day. “You can guarantee payments two minutes faster,” Morris said.
Kinexys currently processes around $3 billion in daily transactions. That’s a small percentage of JPMorgan’s $10 trillion daily payment flow. As previously reported by Cointelegraph, Kinexys is also working with ChainLink and Ondo Finance to enable cross-chain finance ministry settlements.
Predictive Oncology forms the Ministry of Cryptocurrency with a focus on depin
Predicive Oncology, a NASDAQ registered biotechnology company, has established the $344.4 million digital assets Treasury, which is entirely made up of AETHIR (ATH) tokens, and has become the first publicly available US company to hold tokens from a decentralized physical infrastructure network (DEPIN).
Capital allocation was developed in collaboration with Web3 investment and advisory company DNA Fund and supported by Investment Bank BTIG.
This strategy provides predictive oncology with exposure to the depin sector. This is a blockchain network that coordinates and encourages the deployment of real infrastructure such as computing, storage, and connectivity.
AETHIR operates a distributed cloud computing network that provides GPU infrastructure for AI and other high-performance applications. That ATH token currently has a market capitalization of approximately $640 million.
“Things manage one of the world’s largest distributed GPU networks, controlling 435,000 GPU containers in more than 200 locations in 93 countries directly linked to the NVIDIA ecosystem.”
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