The remaining “10%” of issues center mainly on DeFi, which Brian Armstrong says lawmakers are addressing carefully to preserve innovation. Coinbase CEO Brian Armstrong says he’s optimistic that US senators are moving closer to advancing key cryptocurrency market structure legislation by Thanksgiving, suggesting that there’s now far more agreement on both sides of the aisle than there are differences. “Even though the government is shut down, the Senate is working hard on getting market structure legislation passed for crypto,” Armstrong said in a video posted on X. According to Armstrong, roughly 90% of the legislative framework has already been agreed upon, with the remaining 10% focused on issues like decentralized finance (DeFi). He added that policymakers are looking for ways to protect innovation while ensuring that “centralized intermediaries, like Coinbase, should be regulated — not the protocols.” Read more
The Singapore-based digital bank plans to broaden its crypto and fiat offerings for institutional clients, citing growing demand for programmable finance. Fintech Pave Bank has raised $39 million in a Series A funding round led by venture capital firm Accel. The company offers programmable banking solutions for businesses, combining crypto and fiat services. The round included participation from Tether Investments, Wintermute, Quona Capital, Helios Digital Ventures, Yolo Investments, Kazea Capital, Financial Technology, and GC&H Investments, bringing the company’s total funding to about $45 million, according to the Economic Times. Founded in 2023 by fintech veterans Simon Vans-Colina, Salim Dhanani, and Dmitry Bocharov, Pave Bank provides institutional and corporate clients with both traditional and programmable banking services, while also facilitating transactions involving digital assets. Programmable banking services allow businesses to automate financial operations such as payments, transfers, and treas...
The acquisition completes Fireblocks' tech stack, the company said on Thursday, allowing it to offer more institutional-grade services to clients. Fireblocks, a digital asset infrastructure company, announced on Thursday that it acquired Dynamic, an enterprise-focused wallet provider. The integration of Dynamic’s tech stack into Fireblocks adds to the company’s suite of institutional-grade services, which includes treasury management, custody options, and wallet services, according to Thursday’s announcement. Dynamic provides the wallet infrastructure for 50 million onchain accounts, including accounts for crypto exchange Kraken and Web3 Companies like Magic Eden and Ondo Finance, according to Fireblocks. Michael Shaulov, CEO of Fireblocks, said: Read more
The addition of SOL comes amid growing institutional interest in the Solana network, as the community positions it as the hub of internet capital markets. Fidelity, a financial services company, has added Solana trading to its platform, making the network’s native token available to both institutional and retail clients. Solana (SOL) is now available to buy, sell, and trade on Fidelity Crypto, Fidelity Crypto for IRAs, Fidelity Crypto for Wealth Managers, and Fidelity Digital Assets’ platform for institutional investors, a spokesperson confirmed to Cointelegraph on Thursday. The spokesperson added: The added support for SOL signals that cryptocurrencies are maturing as an asset class, further reducing the gap between legacy and digital finance. Read more
Aave Labs’ latest deal follows a string of institutional initiatives, including its Maple Finance integration and Horizon RWA marketplace. San Francisco–based Stable Finance has been acquired by Aave Labs, the developer behind the Aave lending ecosystem, as the firm expands into consumer-facing onchain services. Founded in 2023, Stable Finance’s mobile app allows users to deposit funds from bank accounts, cards, or crypto wallets to earn yield on stablecoins through overcollateralized decentralized markets. The deal, announced Thursday, also brings Stable Finance’s founder Mario Baxter Cabrera and his engineering team into Aave Labs. Financial terms of the acquisition were not disclosed. Read more