Bank Of America’s Global Stablecoin Initiative, BNY’s New Crypto Strategy & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Corporate Stablecoins: BofA & Co. are jointly exploring issuing a stablecoin. 

• European Bitcoin: Luxembourg’s sovereign wealth fund buys Bitcoin ETFs. 

• Banking Wave: BNY Mellon is piloting tokenised deposits. 

JPMorgan stepping into crypto trading marks the moment when the establishment validates the frontier—this is adoption with a capital A.

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Turbo Capitalist

Falling birth rates have reduced the pool of university-age students in much of the developed world, but demographics tell only part of the story. 

Even in countries with youthful populations, many prospective students are choosing not to attend university. The reasons are familiar: tuition fees rising, growing doubts about the value of a degree, and the weak returns that graduates often find in tight labour markets.

As the conventional path loses its appeal, young people are increasingly searching for alternatives that promise enhanced agency and prosperity. Consequently, vocational training programmes, apprenticeships, and entrepreneurial ventures have gained traction. But among these options, one development stands out: the growing preference for retail trading and investing as a substitute for the traditional higher-education route.

Thanks to the rapid spread of smartphones, the barriers to entry have never been lower. With modest capital and little more than an internet connection, anyone can begin trading and investing on permissionless, self custody platforms such as Phantom. These platforms require no credentials, no gatekeepers, and no institutional affiliation. They offer instant participation in markets that operate globally, twenty-four hours a day.

Sceptics are quick to note that chasing quick onchain profits is no substitute for the breadth of knowledge or the social capital that a university degree can still confer. They also argue that volatile markets, limited safeguards, and the absence of structured learning can leave retail traders and investors vulnerable. 

Yet, the momentum behind this shift is difficult to ignore. As the promise of higher education loses credibility, the cultural shift from lecture halls to trading screens accelerates.

What emerges is a new kind of identity: the turbo capitalist. Defined by personal agency rather than institutional validation, this economic animal sees prosperity not as something delivered by credentials or employers, but as something that can be seized directly in open markets. 

Whether this experiment delivers lasting prosperity is uncertain, but the signal of change could not be clearer.

Chart Of The Week

News Bites

Corporate Stablecoins: Ten of the world’s largest banks—including Bank of America, Goldman Sachs, and Citi—are jointly exploring issuing a stablecoin. While the consortium avoids calling it a “stablecoin,” the initiative underscores the increasing importance of blockchain technology to financial institutions. 

Everything Markets: Intercontinental Exchange, the parent company of the New York Stock Exchange, has acquired a $2 billion stake in Polymarket—valuing the prediction markets platform at around $8 billion. At the same time, rival Kalshi has been valued at $5 billion after securing a $300 million raise to fund its international expansion.

European Bitcoin: Luxembourg’s sovereign wealth fund has committed 1% of its portfolio to Bitcoin ETFs, becoming one of the first European state-backed investors to take a direct position in the asset. The move echoes Norway’s sovereign wealth fund, the world’s largest, which has quietly increased its indirect Bitcoin exposure by 192% over the past year. 

Bitcoin ETPs: Amundi, Europe’s largest asset manager with more than $2 trillion under management, is preparing to roll out its first Bitcoin exchange-traded products. The products are expected to debut in early 2026, marking a watershed moment for Bitcoin’s legitimacy in Europe’s regulated markets.

Banking Wave: BNY Mellon, custodian of $55.8 trillion in client assets, is piloting tokenised deposits. The project is designed to support real-time, instant, and cross-border transactions across the bank’s global network.

Hybrid Indices: S&P Dow Jones Indices is set to launch the S&P Digital Markets 50, a hybrid benchmark combining 15 cryptocurrencies with 35 listed firms tied to the crypto sector.

Solana Derivatives: The CME Group has introduced SOL options. The contracts will be offered under CFTC oversight, and firmly place SOL next to Bitcoin within the framework of regulated derivatives.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

You can reach me anytime over on 𝕏 or drop me a line. 

Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}