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Crypto & Web3CoinDesk ·

SBI Holdings Joins Solana Foundation to Launch Tokenization and Stablecoin Venture

Japanese financial giant SBI Holdings has pivoted its blockchain strategy toward the Solana network for tokenization and stablecoin issuance. The initiative is being pursued through a joint venture called SBI Solana Global. The Solana Foundation, a Swiss organization responsible for overseeing the Solana layer-1 blockchain, has joined the venture as a key partner. The collaboration marks a significant strategic shift for SBI Holdings in its approach to digital asset infrastructure.

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Crypto & Web3CoinDesk ·

BlackRock and Major Banks Join UK Government's Financial Tokenization Taskforce

A coalition of 54 firms, including BlackRock, Goldman Sachs, JPMorgan, and Morgan Stanley, has joined a UK government-backed tokenization taskforce. The initiative is supported by the City of London Corporation, one of the UK's most influential financial bodies. Over the next year, the group will focus on developing and testing real-world tokenization applications across UK financial markets. The taskforce represents a significant push by the UK to integrate blockchain-based asset tokenization into its mainstream financial infrastructure.

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Crypto & Web3CoinDesk ·

Crypto Drops Monday as Middle East Tensions and Profit-Taking Hit Markets

Cryptocurrency markets reversed their weekend gains on Monday following a wave of profit-taking and renewed Middle East tensions. The selloff coincided with a sharp 9.2% decline in South Korea's Kospi stock index, reflecting broader global market unease. Approximately $253 million in leveraged crypto positions were liquidated during the downturn. The losses came after what had been a broadly bullish week for digital assets.