Analyses
Daily News Summary 3/10
October 3, 2024

The Next Chapter in the Ripple Saga
The U.S. Securities and Exchange Commission (SEC) is appealing a previous court ruling in its case against Ripple Labs, arguing that the decision contradicts decades of Supreme Court precedent and securities law. On August 7, a judge ordered Ripple to pay a $125 million civil penalty, significantly lower than the SEC’s initial request of $2 billion. The ruling partially granted and partially denied the SEC’s original claims regarding the sale of Ripple’s XRP token.
Tokenization Tests in Full Swing
Digital Asset has announced the successful completion of another tokenization test in collaboration with the Canton Network. This project involved Euroclear’s settlement and clearing services, the World Gold Council, and the global law firm Clifford Chance. The test focused on tokenizing gold and euro bonds and included participation from 27 unnamed market players.
Franklin Templeton Fund Integrates with Aptos
Asset manager Franklin Templeton has announced the integration of its second-largest tokenized fund in the blockchain industry, FOBXX, into the Aptos network. The $435 million OnChain U.S. Government Money Market Fund (FOBXX), which primarily invests in U.S. Treasuries, is now tradable on the Aptos blockchain.
Aptos Expansion in Japan
Aptos Labs has announced a significant expansion in Japan. As part of this plan, it has signed an agreement with Palette Chain developer HashPalette to acquire the company and integrate its blockchain. HashPalette has established strong ties with major Japanese companies, including KDDI, providing Aptos with access to some of Japan’s most influential corporations. Aptos will be the exclusive blockchain provider for the EXPO2025 DIGITAL WALLET at the Expo 2025 in Japan.
OKX Introduces PayPal’s Stablecoin
Crypto broker OKX has announced the support of PayPal’s stablecoin, PYUSD, on its platform and will also launch spot trading for the product. PYUSD is a 1:1 USD-pegged crypto asset available on the Ethereum and Solana blockchains.
Spanish Banking Giant BBVA to Launch Stablecoin in 2025
to roll out the digital asset. Since 2014, BBVA has been involved in digital asset services, currently offering custody and trading services for Bitcoin, Ethereum, and USDC in Switzerland to private banking and institutional clients.
Grayscale Launches Aave Fund
Crypto asset manager Grayscale has announced the launch of its latest fund, the Aave Fund. Aave is an Ethereum-based decentralized lending platform that allows users to use other crypto assets as collateral for lending while earning interest on the borrowed assets.
Visa Unveils New Tokenization Platform
Visa has introduced its new Visa Tokenized Asset Platform (VTAP), designed for the issuance and management of digital assets. The VTAP platform is currently in its sandbox phase, and it is planned to provide end-to-end infrastructure for institutional investors and central banks to securely issue, transfer, and settle digital assets.