UAE Shatters Crypto Investment Record, BNY Mellon Accelerates Stablecoins & More

Welcome back!

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

• Record Breakers: Abu Dhabi-backed MGX invests $2B in Binance.

• Institutional Adoption: BNY Mellon expands its services for Circle.

• Wall Street 2.0: How Ondo brings global capital markets onchain.

The market’s rough—but keep your eyes on the long game ↓

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

Click on any underlined heading/hyperlink to learn more.

Spotlight

Wall Street 2.0

Today’s financial markets are a remarkable achievement, refined over centuries to fuel economic growth and wealth creation. Yet significant limitations persist: cost, time, and transparency. But ultimately, it distills down to one thing—access.

When Bitcoin launched in 2009, it was the first time an asset was made globally accessible to anyone with an internet connection. With the launch of Ethereum in 2015, smart contracts enabled anyone to create new, globally accessible digital assets. And subsequently, stablecoins connected it all to the ‘real world.’

As US dollar-backed stablecoins gained traction, it became clear that the same features enabling US dollar access could also be applied to other 'real-world' assets (RWAs). So, we tokenized US Treasuries to provide the market with a better alternative to conventional stablecoins—one that preserved the global real-time transferability and onchain programmability of stablecoins while paying holders a yield. We call them yieldcoins.

Yieldcoins have taken off with great success. Ondo’s TVL recently surpassed $1B, now the largest in the category, and Solana represents one-third of the entire yieldcoin market via Ondo products.

However, this is just the beginning. 

Ondo's vision is to bring all capital markets—stocks, bonds, and ETFs—onchain, to Solana and beyond. 

But the current systems don’t allow this. Today's financial systems are plagued by high fees, limited access, and operational inefficiencies. And previous attempts at bringing tokenization to public blockchains were met with widespread infrastructure challenges, like liquidity fragmentation, front-running, and compliance issues. At Ondo, we are addressing these challenges head-on by creating a unified ecosystem that bridges the best of traditional finance with the capabilities of blockchain technology.

Enter Ondo Chain—the infrastructure for a foundational upgrade on global financial markets, or Wall Street 2.0.

Ondo Chain has been designed with institutional-grade security for cross-chain messaging, allowing it to act as a secure hub for RWA issuance and subsequent multi-chain distribution. Ondo Chain will enable asset managers to create compliant, omni-chain RWAs that seamlessly operate across the Solana DeFi ecosystem. 

Simply put: Ondo brings global capital markets onchain, while Solana enables their high-velocity, liquid trading.

It's time to accelerate.

Chart Of The Week

News Bites

Record Breakers: Abu Dhabi-backed investment group MGX has made a record-setting $2 billion investment in Binance for a minority stake. Interestingly, the deal will be completed in stablecoins, not fiat currencies.

Bitcoin Surge: Senator Cynthia Lummis has reintroduced the Bitcoin Act, which would authorise the U.S. government to purchase up to one million additional Bitcoin, further formalising President Trump's vision for a Strategic Bitcoin Reserve.

Institutional Adoption: BNY Mellon, one of America’s oldest banks, is expanding services for Circle, enabling select clients to move funds in and out of Circle to buy/sell USDC—a major step forward for stablecoin adoption. 

ETF Evolution: The NYSE has officially requested the listing of the Bitwise 10 Crypto Index Fund, moving multi-asset crypto ETFs closer to SEC approval. The fund would hold 75.1% BTC, 16.5% ETH, and 4.3% SOL, among others. 

Deeper Insights: SandwichedMe, a popular MEV tracking platform for Solana, has been completely revamped—now featuring advanced analytics, real-time tracking, and deeper insights into sandwich attacks. 

Competition Intensifies: GMX-Solana, a deployment of GMX V2, is now live on Solana, heating up the perpetual futures market and further expanding Solana’s DeFi landscape.

Expanding Innovation: Innovation on Solana continues to soar. The network can now sign Bitcoin and Ethereum messages, unlocking new cross-chain use cases and novel applications.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

If you'd like to reach me, respond to this newsletter or ping me on 𝕏.

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.}