The undisclosed investment will support the development of Tokenet, a digital asset lending platform, as institutional demand for crypto infrastructure continues to grow. Marex Group, a Nasdaq-listed financial services firm, has invested an undisclosed amount in institutional crypto infrastructure provider Digital Prime Technologies, underscoring traditional finance’s growing interest in digital asset markets. The companies announced Wednesday that the investment will support the continued development of Tokenet, a digital asset lending and borrowing platform built by Digital Prime in partnership with EquiLend. Marex said the investment is part of its strategy to expand its institutional digital assets business. Last week, Digital Prime said Tokenet had surpassed $1 billion in lending inventory and more than $1 billion in borrowing demand from its launch partners. The figures referred to the amount of digital assets available to lend through the platform and the volume of borrowing interest expressed by parti...
A Midwest Democratic primary that raised accusations of payback from the cryptocurrency industry ended with the unseating of two-term incumbent Shri Thanedar. Michigan State Representative Donavan McKinney won a Democratic primary against incumbent House Representative Shri Thanedar in a race that raised accusations of payback by the cryptocurrency industry. McKinney won the primary for Michigan’s 13th Congressional District with 51.9% of the vote against Thanedar’s 48.1% as of Wednesday, the New York Times reported. The primary saw a cryptocurrency-backed political action committee (PAC) spending more than $2 million on media in an attempt to re-elect Thanedar, who has voted in favor of many bills favoring the industry while in Congress. Election results for Democratic primary in Michigan’s 13th congressional district. Source: The New York Times Read more
The remittance giant is rolling out Stablecard across 37 markets, targeting cross-border payments and consumers seeking US dollar-denominated savings in volatile economies. Western Union has partnered with stablecoin infrastructure provider Rain to launch Stablecard, a digital wallet and Visa-branded card that enables users to hold and spend a US dollar-backed stablecoin, marking one of the company’s biggest moves into blockchain-based payments. On Wednesday, Western Union said Stablecard allows users to hold, receive, transfer and spend USDPT, a US dollar-backed stablecoin issued by Anchorage Digital Bank on the Solana blockchain. Stablecard launched in 37 markets, with Western Union aiming to expand availability to more than 60 markets by the end of the year. Users can receive Western Union money transfers directly into a USDPT wallet, transfer funds to compatible crypto wallets and exchanges and spend their balances anywhere Visa is accepted, including through Apple Pay and Google Pay. Read more