HSBC and Standard Chartered Run First Live Tokenized Deposit Transfer on SWIFT’s Blockchain Ledger
🌐 HSBC and Standard Chartered successfully completed the first live tokenized deposit transaction on SWIFT's blockchain ledger, marking a significant milestone for tokenized deposits.
🔗 The transaction utilized HSBC's Tokenized Deposit Service and Standard Chartered's infrastructure, with SWIFT's ledger orchestrating the obligations and final settlement through existing payment systems.
🚀 Seventeen banks globally are set to pilot live transactions on this new platform, while American banks are developing a competing tokenized deposit network called The Bridge, expected to launch in 2027.
Grayscale Discloses Talks Over 200,000 ZEC Contribution to Zcash Trust From DCG Unit
💰 Grayscale is in discussions with a DCG subsidiary to contribute approximately 200,000 ZEC to its Zcash Trust, aiming to list under the ticker ZCSH on NYSE Arca.
🔍 The trust currently holds about 2.3% of circulating ZEC, with a net asset value of $155.2 million as of June 30, and shares have been trading at a discount for over 700 days.
⚖️ If the contribution goes through, DCG could gain majority control of the Trust, potentially prioritizing its own interests over those of the Trust's shareholders.
1.15 Million Ethereum (ETH) Left Exchanges – And The Exodus Isn’t Slowing
🚀 Ethereum exchange balances have decreased significantly, dropping from 7.70 million to 6.54 million ETH, a 15% decline over eleven weeks, while Bitcoin's exchange balance rose by 1.8% during the same period.
📈 Staking levels for Ethereum remain high, with significant corporate investments, including BitMine Immersion Technologies holding nearly 5% of the supply, primarily staked.
💰 Institutional interest is surging, with US spot Ethereum ETFs attracting $189.15 million in inflows on August 19, pushing August's total past $534 million, driven by major players like BlackRock and Fidelity.
ETH’s Rare Double-Digit Surge Could Be Just the Beginning
🚀 Ethereum surged approximately 20% in 24 hours, marking its 8th-largest single-day gain since January 2018, with historical data suggesting better performance over three to six months.
📈 Analyst Jamie Coutts highlighted that while only 8 out of 16 similar past gains were higher after 30 days, 10 were up after 90 days, indicating a positive trend for ETH in the longer term.
💰 The recent rally was fueled by significant buying pressure and broader crypto policy developments, including the White House's push for the CLARITY Act and the SEC's new fundraising proposal, which contributed to increased market optimism.
Trump Wants the US to Lead Crypto: Here Are the Biggest Takeaways From the White House Meeting
🇺🇸 President Trump met with major crypto executives to discuss the Digital Asset Market Clarity Act, emphasizing the need for legislation to keep the US competitive against China.
📈 Coinbase CEO Brian Armstrong expressed optimism about the bill's bipartisan support, predicting it will receive over 60 votes in the Senate, while Trump highlighted plans for the US to purchase significant amounts of Bitcoin.
⚖️ Despite positive market reactions, hurdles remain in the Senate, with concerns over ethics and stablecoin regulations prompting calls for a more cautious approach to voting on the CLARITY Act.