RWA ๐ Global & Macro: No major macro headlines this hour; market focus remains on institutional crypto adoption and banking integration.
๐ฆ RWA & Institutional: Singapore completed its first local tokenized deposit payment with DBS, OCBC, and UOB participating, marking a significant step in integrating tokenized deposits into the country’s banking system. Meanwhile, stablecoin payments startup Velocity raised a $10M Series A extension at a $200M valuation, with Visa Ventures participating.
โก Crypto & Markets: Bitcoin Suisse, a Swiss crypto custodian with over $3B in assets under custody, is reportedly planning to cut up to 60 positions, potentially halving its Swiss workforce, signaling ongoing pressure on crypto firms despite improving market conditions.
๐ก Key Takeaway: Tokenized deposits gain real-world traction in Singapore while crypto firms continue to streamline operations, highlighting a maturing market where institutional adoption coexists with cost discipline.