Stablecoins and tokenized assets are pushing banks, exchanges and crypto companies into the same markets, from payments to stocks and ETFs.
The line between crypto companies and traditional finance is blurring. Binance is buying a $100 million stake in Circle, Canada’s six largest banks are exploring tokenized deposits and the New York Stock Exchange is working with Blockchain.com to bring US stocks and ETFs onchain.
Crypto companies want a bigger role in payments and traditional assets, while banks and exchanges are bringing those markets onchain without giving up their place at the center of the financial system.
This week’s Crypto Biz highlights how stablecoins and tokenized assets put crypto companies and traditional finance on increasingly overlapping turf, with both sides vying for control over how money and assets move.
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