The companies, products and regulatory developments shaping the broker industry.
Separate ESMA and EBA releases in October draw a critical distinction between services involving non-compliant stablecoins and supervision of an authorised significant e-money token: a broker must examine the issuer, token and service separately.
The agreed River One acquisition would add warehouse-financing tools to Securitize’s tokenisation business. The company expects a fourth-quarter close and separately reported a quarterly loss, about $300m in cash and no debt.
The stablecoin issuer’s filing shows a 50.2% modeled cost pass-through from a one-point rate move, while a separate ARC presale item supplied most of quarterly non-reserve revenue.
Coinbase gained $201.6m from higher average USDC balances over nine months, but lower rates removed $166.2m before customer rewards and a presentation change.
BitGo’s Q2 digital-asset sales cost offset 99.8% of sales revenue. Its stablecoin sponsor fees offset 92.0% of reserve-interest revenue, exposing two gross-accounting mechanisms behind the top line.
A new CBN rulebook sets distinct capital floors for naira and foreign-currency stablecoins, with additional obligations for exchanges, payments and cross-border virtual-asset services.
OKX’s new US card is secured by eligible stablecoin balances and issued by WebBank; the promotional cashback terms require specific USDG repayment and are subject to geography and tier limits.
Blockchain Capital led the Series C, while SBI joined through a digital-asset fund; the participants have not disclosed SBI’s individual ticket.
A 29 October CPMI paper examines how central banks can support safer payments as stablecoins, tokenised deposits and fast-payment networks expand.
The integration targets the interval between confirming customer funds and authorising a card payment. Meru is the first announced programme; production results have not been published.
Existing Bitstamp financing and live RLUSD access sit alongside planned retail-app distribution and treasury integration. The services have different customers, permissions and implementation stages.
The 8 October opinion covers all MiCA crypto-asset services and calls for controlled remediation of legacy exposures within three months.
The consultation also envisages regulated stablecoin issuers joining after their framework takes effect. Onboarding fees and implementation timing are to be discussed with industry during 2027.
CP26/36 explains why a software interface alone is insufficient and preserves separate financial-promotion and AML obligations ahead of the October 2027 regime.
The BitPesa and AZA Finance founder joins the institutional liquidity group. Two market estimates cited in the appointment release measure different payment populations and time bases.