This month brings optimism for new developments and significant product launches. Regulators are also widening the industry’s scope.
The headlines:
- Equity tokens are at the top of the WFE’s list;
- Kraken wants in on tokenized stocks;
- Gemini launched a new rewards-focused credit card;
- Tether reversed support plans for the USDT on five blockchains;
- Webull launched crypto trading;
- Plus, $4.5 billion in token unlocks are occurring this month (More on that later);
- And much more!
As always, these are your decentralized diaries!
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Bitcoin is at $109k (as of 9/1/25)
Bitcoin swung from a high of $113,450.07 to a low of $107,271.18 before settling at $109,036.27.
The Altcoins are showing some uncertainty.
Ethereum (ETH) is at $4,390.94, Solana (SOL) is at $199.67, Chainlink (LINK) is at $22.89, Avalanche (AVAX) is at $23.89, Polkadot (DOT) is at $3.74, and Uniswap (UNI) is at $9.44.
The WFE Unveiled Equity Token Concerns
Interestingly, the WFE is urging international action on tokens that act like securities. These so-called equity-like tokens can offer dividends, governance, or profit-sharing, but they don’t get traded on regulated markets.
On August 26, the WFE emphasized the need for consistent regulatory treatment across jurisdictions and urged authorities to enforce existing securities frameworks when tokens exhibit ‘equity-like’ behavior.
The group also warned that retail investors might be misled by these tokens, especially when they get traded on unregulated platforms.
Kraken Wants to Launch Tokenized Stock Trading
Premier crypto exchange Kraken is seeking regulatory approval from the SEC to launch a 24/7 tokenized stock trading platform. Kraken executives outlined a proposal to tokenize traditional assets in their August 25 filings.
Moreover, the exchange already provides tokenized stock trading to international users via the Solana blockchain. These offerings are not available to U.S. customers.
Tokenized Deposits Are Coming
VersaBank has started a pilot program to test USDVBs, its new tokenized deposit product. These Digital Deposit Receipts work like digital versions of cash deposits, matching value 1:1, with FDIC insurance and interest payments.
The pilot will run on Algorand, Ethereum, and Stellar blockchains, with transactions managed through VersaVault and VersaView platforms.
Gemini Debuted an XRP-Focused Card
Boutique crypto exchange Gemini launched a new XRP rewards credit card offering up to 4% cashback. The offering includes bonus tiers reaching up to 10% through merchant promotions.
The card features XRP deposits with category-specific rewards: 4% on gas, EV charging, and rideshares; 3% on dining; 2% on groceries; and 1% on (general) purchases. Similarly, Gemini unveiled expanded support for Ripple’s RLUSD stablecoin, usable as a base currency across all spot trading pairs for U.S. customers.
MetaMask Enabled Social Login Support
Popular web3 wallet MetaMask rolled out a new “social login” feature. Users can create, back up, and restore wallets using their Google or Apple accounts.
Furthermore, users can still opt to retain the traditional recovery phrase as a backup. The feature is currently live on MetaMask’s browser extension. Mobile support is coming soon.
Crypto Trading is Live on Webull
Webull brought back cryptocurrency trading for U.S. users, adding the feature to its main investment app. The updated app now supports 24/7 trading for more than 50 tokens. It’s live in the U.S. and Brazil, with support for other countries coming soon.
Ripple Announced New RLUSD Integrations
XRP issuer Ripple’s RLUSD has integrations with Aave’s Real World Assets (RWA)-focused platform Horizon. The move enables RLUSD tokens as collateral.
Moreover, Horizon is live on the Ethereum network. Institutional borrowers can access tokenized assets while liquidity providers earn yield from pooled deposits.
Cardano Has a New Developer Portal
The Cardano Foundation has relaunched its Developer Portal with a fresh look and more resources, like ‘Get Started’ guides, EVM migration tutorials, and smart contract design patterns.
Integration instructions for Cardano wallets are also available.
Anchorage Digital Debuts an On-chain Investment Unit
Crypto bank Anchorage Digital launched Anchorage Digital Ventures, an early-stage (on-chain) protocol-focused investment arm. The initiative goes beyond capital, offering hands-on support with product development, engineering, go-to-market strategy, and liquidity planning.
Selected projects may also gain direct access to Anchorage’s institutional client base if they integrate with the platform.
Tether Changed USDT Support Plans on Five Blockchains
Stablecoin giant Tether reversed its decision to freeze USDT smart contracts on five blockchains—Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand. Tether will no longer issue or redeem USDT on these networks, and users will still be able to transfer existing tokens.
The change aligns with Tether’s plan to focus on networks with higher developer activity and user demand.
Legislators Moved Over the Pond on Crypto-Related Visit
A bipartisan delegation of U.S. lawmakers, led by House Financial Services Committee Chairman French Hill and Rep. Vicente Gonzalez, recently toured Italy, Switzerland, and Germany to strengthen transatlantic cooperation on digital asset regulation and monetary policy.
The visit, which took place from August 20th to 28th, included meetings with government officials and financial industry leaders to discuss tokenization, stablecoin legislation, and shared security concerns.
Moreover, the trip reflects growing momentum as digital assets reshape the economic landscape.
Token Unlocks Worth $4.5 Billion Are Coming
This September, the crypto market is preparing for a big wave of token unlocks worth $4.5 billion across major projects. Sui leads with over $153 million in tokens, and about 35% of its supply is already in distribution.
Aptos and Arbitrum follow with unlocks of $50 million and $48 million, while Fasttoken adds $90 million to the mix. Other notable unlocks include Starknet, Sei, Immutable, and ZK, each contributing between $10 million and $17 million.
Crypto ETFs Continued Moving Forward
Digital asset ETF filings continued pouring in. On August 29, Grayscale filed with the SEC to convert its Avalanche trust into an ETF.
REX Shares and Osprey Funds (REX-Osprey) also filed with the regulator for a staking yield-focused BNB ETF. On August 26, Bitwise filed to launch a Chainlink ETF.
Furthermore, on August 28, 21Shares filed for an ETF that tracks the prices of SEI tokens.
