[Hong Kong Explores Tokenization of Stable Cash Flows Such as International Shipping Rent] Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, stated that Hong Kong is studying how to tokenize stable cash flows such as international shipping rent and offer them to investors through blockchain technology. This model aims to create new investment products while leveraging blockchain technology to achieve asset traceability. He also mentioned that legislation related to stablecoins has been passed, and license applications are currently under review, with plans to start issuing licenses next year. Hui emphasized that the positioning of stablecoins is to address pain points in the real economy, particularly in cross-border payments, rather than for speculative trading. The initial number of licenses issued will be very limited, and regulation will remain cautious.
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More >Société Générale’s SG-FORGE Issues First Tokenized Bond in U.S.
The bond uses Broadridge Financial Solutions' tokenization technology and runs on the Canton Network, a privacy-enabled blockchain infrastructure.
Sonnet将合并投票延期至12月2日
[Sonnet Postpones Merger Vote to December 2] U.S. publicly traded company Sonnet Biotherapeutics has postponed its merger vote to December 2. Previously, on July 14, Sonnet Biotherapeutics agreed to a merger deal valued at $888 million. After the merger, the company will be renamed Hyperliquid Strategies and will launch the HYPE treasury strategy. The merger target is Rorschach I LLC, a newly established entity sponsored by Atlas Merchant Capital LLC, Paradigm Operations LP, and other affiliated entities and sponsors. Upon completion of the transaction, Hyperliquid Strategies is expected to hold 12.6 million HYPE tokens and $305 million in cash, with a total valuation of approximately $888 million. The company will continue to trade on Nasdaq, with its stock code changing to reflect its status as a publicly listed cryptocurrency treasury company.
Obex完成3700万美元融资，专注RWA抵押型稳定币孵化
[Obex Completes $37 Million Financing, Focuses on RWA-Collateralized Stablecoin Incubation] Crypto incubator Obex announced the completion of $37 million in financing, led by Framework Ventures, LayerZero, and the Sky ecosystem. Obex aims to incubate and fund yield-generating stablecoin projects, focusing on stablecoin strategies collateralized by high-quality real-world assets (RWA) and adopting institutional-grade risk control standards. Obex will act as the capital allocator for the Sky ecosystem, which has authorized the deployment of up to $2.5 billion USDS to qualified projects incubated by Obex. Framework Ventures co-founder Vance Spencer stated that Obex will offer a 12-week incubation program, providing early-stage teams with capital, technical resources, and access to Sky infrastructure.
Bitcoin Sell-Off Likely 'Complete', Rally Into Year-End Still in Play: StanChart Analyst
Standard Chartered’s Geoffrey Kendrick says bitcoin’s steep decline is part of a recurring pattern, with a rebound into year-end in his base case.
Revolut Enlists Polygon for Stablecoin Remittances in UK and EEA
Revolut customers in the UK and non-European Union EEA countries can do crypto remittances in USDC, USDT, and POL.