Converge Newsletter
DTCC Goes Live With Tokenized Stocks and Treasuries
Plus Stripe's $53B bid for PayPal, Visa launches on Open USD, and our sit-down with DTCC Digital Assets.
Robinhood Chain's First Week Runs on Memecoins, Not RWAs
Plus an exclusive with Coinbase's Brian Foster, and JPMorgan's tokenized reserve fund quietly tripling.
Open USD Is Already Hurting Circle
Plus: the tokenizers go public, a stablecoin paywall for the agent web, and New York Life's junk bonds on-chain.
Tokenizing the Reserve, Banning the CBDC
Plus: MoneyGram's Anthony Soohoo on refounding an 85-year-old cash network from the backend up.
Tokenized Equity Splits Into Two Models
Backpack leads on holders, Ondo on TVL; Coinbase teases a 1:1 product with on-chain dividends.
The SpaceX IPO Was a Key Test for Tokenized Stocks; Some Failed
Bybit, Binance and Bitget cancel xStocks SpaceX allocations after Backed Finance fails to source shares.
Debanking, Never Again
Fed, OCC and FDIC strip 'reputation risk' from 15 supervisory documents.
The CFTC Opens the Perp Lane
Kalshi's BTCPERP wins the first formal CFTC perpetual approval.
The SEC Delays and Narrows Tokenized Stock Innovation Exception
Peirce narrows the contemplated relief: digital twins in, synthetic wrappers out
CLARITY Act Survives Markup. The Real News Isn't Yield.
Plus: BlackRock files two tokenized funds (not one), Coinbase takes Hyperliquid's stablecoin rail, and Grove launches a $1B/day RWA liquidity layer.