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Stablecoins and tokenized assets pull banks and crypto into the same markets
The push includes Binance buying a $100 million stake in Circle, while the New York Stock Exchange works with Blockchain.com on onchain US stocks and ETFs.
Stablecoins and tokenized assets are increasingly overlapping with mainstream finance, pushing banks, crypto exchanges, and crypto firms toward shared markets that range from payments to stocks and ETFs, according to Cointelegraph.
The outlet points to deals and efforts that reflect the blurring line between the two industries, including Binance buying a $100 million stake in Circle.
Cointelegraph also highlights that Canada’s six largest banks are exploring tokenized deposits, while the New York Stock Exchange is working with Blockchain.com to bring US stocks and ETFs onchain.
Overall, the publication says crypto players are seeking a larger role in payments and traditional assets, while banks and exchanges are moving those markets onchain without stepping away from their central position in the financial system.