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- Trade SpaceX & OpenAI Private Shares On Solana, Mag 7 Go Live On Solana & More
Trade SpaceX & OpenAI Private Shares On Solana, Mag 7 Go Live On Solana & More
Also: Crypto-backed mortgages could soon debut in the U.S.

Welcome back!
This is J264G and this week I’ve got these titbits for you:
Private Equity: Shares from SpaceX, OpenAI & Co. to go live on Solana.
Tokenised Stocks: 55+ tokenised U.S. equities now tradable on Solana.
Crypto Mortgages: The FHFA pushes for crypto-backed mortgages.
Stablecoins have muscled their way into the heart of mainstream financial discourse. From Capitol Hill to corporate boardrooms, they are now central to debates on monetary sovereignty, regulatory oversight, and the future of digital payments.
Visa CEO says, "We've been embracing stablecoins."
Over $10B in stablecoins are issued on Solana, with $140B+ in monthly volume (source: @artemis)
accelerate
— Solana (@solana)
11:37 PM • Jun 24, 2025
Now, let’s jump right into this week’s newsletter!
Click on any underlined heading/hyperlink to learn more.
Spotlight
Lipstick Banks
Most so-called stablecoin “infrastructure” today? It’s lipstick on a bank. The exterior might look sleek, but the guts are the same aging systems that powered my parents’ finances. It’s like flipping a house by adding marble countertops but leaving the original knob-and-tube wiring from the 40s. Sure, it looks nice—until you try to plug in a toaster. Not all infrastructure is meant to stand the test of time.
Now that we can all agree stablecoins are here to stay, the infrastructure behind them has to evolve. At Rain, we started with that exact belief: stablecoin-powered payments demand stablecoin-native rails.
If you know Rain, you know us for our card issuance stack. Our cards work anywhere Visa is accepted, and we power some of the most successful programs in the world, like Takenos (the top app in LATAM), KAST, the Avalanche Card, and Nuvei.
We chose to start with cards because they’re the hardest use case: speed, reliability, and global acceptance are all day-one expectations. And we’ve made it work. What looks like a traditional card on the surface hides an entirely new system underneath.
Unlike others retrofitting the old banking model, we built Rain from scratch. Our platform is blockchain-first, with stablecoins baked into its DNA. For example, we’ve fully tokenized our credit card receivables so we can borrow against them with onchain liquidity partners, and then settle with Visa onchain in USDC, around the clock.
For cardholders, nothing feels different. Tap to pay. Done. But behind the scenes? It’s radically more capital-efficient and flexible. That unlocks better economics, faster settlement, and more scalability for our partners.
This is what Andreas Antonopoulos meant by “infrastructure inversion.” At first, the new system looks like an add-on. Then it becomes the foundation. That’s what we’re building at Rain—not just a prettier interface, but the new plumbing for global money movement.
Stablecoin innovators: stop putting lipstick on banks. The future isn’t about making the old systems look good—it’s about building what comes next.

Number Of The Week
Real world assets continue to accelerate on Solana 🏎️
#1 chain for transaction volume per holder at $40.4M
internet capital markets
— Solana (@solana)
4:46 PM • Jun 27, 2025
News Bites
Crypto Mortgages: William Pulte, director of the U.S. Federal Housing Finance Agency, has directed Fannie Mae and Freddie Mac to explore integrating cryptocurrencies into mortgage lending assessments. The proposal underscores growing regulatory acknowledgment of digital assets within traditional financial frameworks.
After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.
SO ORDERED
— Pulte (@pulte)
6:44 PM • Jun 25, 2025
Private Equity: Republic, a New York-based fintech startup, has launched a pioneering service giving investors exposure to private equity via tokenised shares on Solana. The initial offering features tokenised stakes in SpaceX, with plans to include other prominent private firms such as OpenAI, Anthropic, Stripe, Ramp, Epic Games, and more.
Source: republic.com/r-spacex
Tokenised Stocks: At the start of the week, Backed launched 55+ tokenised U.S. equities on Solana. The initiative enables investors worldwide to access U.S. equities without the conventional constraints of borders, intermediaries, or trading hours—underscoring a broader shift toward frictionless, always-on capital markets. If you're unsure where to begin, ping me.
Onchain Migration: Upexi, a Solana (SOL) treasury company, is transitioning its SEC-registered shares onto Solana via Superstate’s Opening Bell issuance platform. This move signifies the continuing integration between regulated traditional markets and blockchain-based finance.
Buying Pressure: Tether co-founder Reeve Collins and ex-Blackstone executive Chinh Chu have launched an initiative to raise $1 billion for a publicly-listed cryptocurrency investment vehicle. The fund intends to strategically accumulate significant holdings in leading digital assets, notably Bitcoin (BTC) and Solana (SOL).
Micro Futures: Robinhood has introduced micro futures contracts for cryptocurrencies—including Bitcoin (BTC) and Solana (SOL)—to its extensive base of nearly 26 million funded accounts in the United States. These smaller-scale contracts require substantially less collateral, enabling investors to speculate on crypto price movements with reduced capital outlay.
Deal Flow
When the Solana ecosystem moves, it moves fast.
We give capital allocators an unfair advantage: high-signal research, due diligence, and warm intros.
Drop us a line and we’ll help take your Solana deal flow to the next level.
Caught In 4K
Skip the CEXs.
Skip the friction. 💫Every major network for you and your business.
— Sphere (@sphere_labs)
3:04 PM • Jun 24, 2025
Weekly Take
Let's see who met w/ SEC Crypto Task Force today to discuss tokenized equities...
The *New York Stock Exchange*.
Don't think people fully appreciate how fast this is all moving.
Some other interesting topics covered as well incl generic listing standards for spot crypto ETFs.
— Nate Geraci (@NateGeraci)
9:39 PM • Jun 24, 2025
Keks & Giggles
“Your mortgage was backed by fartcoin?”
— Inverse Cramer (@CramerTracker)
6:37 PM • Jun 26, 2025
And that's a wrap!
You can reach me anytime over on 𝕏.
Talk soon!
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.