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21 Financial Firms Including BofA, Citi, and Goldman Plan Stablecoin Launch

A consortium of 21 major financial institutions says it will form a dedicated company to develop and issue regulated stablecoins, signaling another push by traditional banks and asset managers toward dollar-denominated digital money. The group, announced Tuesday, includes Bank of America, Goldman Sachs, Citi, Deutsche Bank, UBS, Santander, MUFG and Fidelity Investments. The consortium’s stated goal is to launch a US dollar stablecoin in the first half of 2027, contingent on forming the company and satisfying other conditions. Key takeaways The consortium’s planned launch of a US dollar stablecoin is targeted for the first half of 2027, subject to corporate formation and other requirements. After the initial dollar product, the group intends to expand into other G7-denominated stablecoins, with a euro coin identified as the next priority. The stablecoin design is positioned for compliance with the US GENIUS Act and, where applicable, the EU’s MiCA framework. The membership has m...
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Kalshi Hands First Lifetime Ban to Republican Over Insider Bets

Prediction market platform Kalshi says it has permanently barred two US political candidates from trading on its event contracts after compliance investigations found activity that Kalshi described as violating rules against insider influence. The actions follow a broader wave of scrutiny directed at prediction markets, including investigations tied to potential manipulation of politically sensitive markets. In separate settlement notices announced Friday, Kalshi’s compliance team reported that it imposed a lifetime suspension and a $71,356 penalty on former Republican congressman George Santos, while Laurie Buckhout—also a Republican candidate—received a three-year trading suspension plus a $2,590 penalty. Both cases relate to contracts that Kalshi says could be influenced by the candidates’ own actions. Key takeaways Kalshi reports it permanently suspended George Santos from trading on its prediction market platform and imposed a $71,356 penalty. Kalshi reports it suspended Lauri...
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SEC’s Proposed Overhaul of Transfer Agent Rules Includes Blockchain Update

The U.S. Securities and Exchange Commission (SEC) has unveiled a proposal to modernize the rules that govern transfer agents—an increasingly consequential part of the securities market as recordkeeping and issuance infrastructure shifts toward digital and tokenized workflows. In a filing released as a proposed rule change, the SEC said it wants to update long-standing requirements around transfer agent registration, recordkeeping, safeguarding, and securities transfer operations. The agency also aims to address risks it believes have grown with more automated and blockchain-influenced market infrastructure. Key takeaways The SEC’s proposal would update transfer agent rules to better accommodate “onchain” or blockchain-native recordkeeping models. Transfer agents would face expanded reporting and new compliance standards, including requirements tied to restrictive legends and third-party service providers. The SEC said its current framework has not been substantively updated since...
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Binance Adds Options on 1,000 US Stocks and ETFs as TradFi Push Grows

Binance is moving deeper into traditional finance, launching options trading on more than 1,000 US stocks and exchange-traded funds for eligible users outside the United States. The exchange says the product will be provided through its Abu Dhabi-regulated broker-dealer, Nest Trading, with orders routed to US-registered Alpaca Securities for execution, clearing, settlement, and custody. The offering builds on Binance’s existing equities lineup, which includes more than 7,000 US stocks and ETFs. Binance also emphasized that these are physically settled options—meaning users who exercise receive or deliver the underlying shares—rather than equity-linked perpetual futures. Key takeaways Binance will offer options on 1,000+ US stocks and ETFs to eligible non-US users via Nest Trading. Execution, clearing, settlement, and custody will be handled through orders routed to Alpaca Securities. The options are physically settled, distinguishing them from perpetual futures structures. Bina...
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Crypto-backed PAC cuts Massachusetts primary ad spend by $189K

A Fairshake-linked political committee is spending on media support for incumbent U.S. Representative Jake Auchincloss ahead of Tuesday’s Massachusetts primary, according to Federal Election Commission (FEC) records. The activity comes as crypto-focused political spending groups continue to expand their influence beyond narrowly defined policy debates. FEC filings show Protect Progress PAC—a Fairshake affiliate—spent just over $189,000 on media to back Auchincloss’s reelection campaign in Massachusetts’ 4th congressional district. Democratic challenger Jason Poulos, in a letter made public on Aug. 16, accused the incumbent of being influenced by the crypto industry and criticized the PAC’s efforts as potentially improper election interference. Key takeaways FEC records indicate Protect Progress PAC spent just over $189,000 on media in support of Jake Auchincloss ahead of Tuesday’s Massachusetts primary. PAC spending is not tied to policy position votes in the reporting; Poulos a...
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Ripple and Coincheck Drive Asia Digital Asset Custody Deals

Ripple has teamed up with digital asset infrastructure provider SettleMint to bring an end-to-end custody and token lifecycle stack to financial institutions in Asia-Pacific. The firms say the integration is designed to reduce operational complexity for banks and other regulated players that want to hold tokenized assets and manage them from issuance through ongoing administration. Just days earlier, Coincheck Group announced a separate push in Japan toward institutional-grade custody and wallet technology, partnering with DFNS to deliver wallet-as-a-service capabilities. Together, the announcements highlight how Asia-Pacific institutions are trying to close the “infrastructure gap” that has slowed crypto adoption inside regulated finance. Key takeaways Ripple and SettleMint will integrate Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform to support custody, issuance, and management of tokenized assets. Coincheck Group’s Japan effort with DFNS focuses on wallet infr...
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Crypto-Backed PAC Cuts Massachusetts Primary Ad Spend

An affiliate of Fairshake, one of the best-known political networks tied to the U.S. crypto industry, is spending on media ahead of Tuesday’s Massachusetts primary as part of a broader push into the 2026 election cycle. According to Federal Election Commission (FEC) filings, Protect Progress PAC—linked to Fairshake—has targeted messaging to support Representative Jake Auchincloss in his bid for reelection. The spending and accompanying accusations are also renewing scrutiny of how crypto-aligned political groups are engaging with candidates in races that are not directly about crypto policy—while highlighting the political pressure points around legislation affecting digital assets. Key takeaways FEC records show Protect Progress PAC spent just over $189,000 on media supporting Jake Auchincloss in Massachusetts’ 4th congressional district primary. Democratic candidate Jason Poulos alleges some of the mailers were “AI-generated slop mailers,” raising questions about messaging tact...
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