The industry moved quickly despite slow government interventions. Self-regulation continued.
The headlines:
- BNY Mellon is exploring tokenized deposits;
- Galaxy Digital introduced its crypto trading platform;
- Anchorage Digital Bank selected US Bank for stablecoin reserve custody;
- According to Treasury Secretary Scott Bessent, the Federal Government wants to buy more Bitcoins;
- Morgan Stanley unveiled crypto access for its clients;
- Plus, Coinbase launched staking services for New York residents (more on that later);
- And much more!
As always, these are your Decentralized Diaries!
Bitcoin is at $115k (as of 10/13/25)
The cryptocurrency markets turned volatile after Bitcoin dropped from a high of $128,198.06 to a low of $104,582.41, then stabilized at $115,253.02.
The altcoins are also uncertain.
Ethereum (ETH) is at $4,174.38, Solana (SOL) is at $198.21, Chainlink (LINK) is at $19.59, Avalanche (AVAX) is at $22.59, Litecoin (LTC) is at $22.34, Polkadot (DOT) is at $3.34, and Uniswap (UNI) is at $6.76.
BNY Mellon Mulls Tokenized Transactions
Banking giant BNY Mellon is considering deploying blockchain-focused solutions as part of an upgrade, Bloomberg reported on October 7. The bank also plans to focus on deposit rails to complement traditional finance infrastructure.
Furthermore, the bank aims to move towards real-time payments and settlements via the tokenization route.
Galaxy Digital Unveils a Digital Asset Trading Platform
Premier blockchain infrastructure firm Galaxy Digital launched GalaxyOne, a crypto trading platform designed for individual investors. The platform offers trading in Bitcoin, Ethereum, and Solana, with access to US equities.
Additionally, the offering features a dedicated mobile app and provides premium yield options. Yields reach up to 8% APY for accredited investors and 4% APY for general users via GalaxyOne Cash.
Brevan Howard, BlackRock Launch Tokenized Funds on the Sei Network
BlackRock and Brevan Howard partnered with tokenization specialist KAIO to enable fund access on the Sei Network. Users can now access the BlackRock ICS US Dollar Liquidity Fund and the Brevan Howard Master Fund.
Furthermore, the KAIO token serves as the mechanism for access, and its infrastructure can also integrate with DeFi components.
Anchorage Digital Bank Chooses US Bank for Stablecoin Custody Reserves
Boutique crypto FI Anchorage Digital Bank revealed its selection of US Bank for custody of its stablecoin reserves. The move enhances Anchorage’s long-term stability.
Moreover, the deployment further integrates the crypto and TradeFi ecosystems.
Treasury Secretary Unveils the US Government’s Bitcoin Reserve Purchase Plan
In an October 8 Twitter/X post, CleanSpark Executive Chairman Matthew Schultz revealed that Treasury Secretary Scott Bessent disclosed the Government’s Bitcoin reserve plans. According to Schultz, Senate Committee on Banking Chairman Tim Scott and Bessent discussed several issues at a private dinner.
Subsequently, Schultz revealed that Bessent confirmed the Federal Government’s intentions to increase its Bitcoin holdings in addition to its current stash, which is currently worth around $17 billion (approximately).
Blue Ocean Technologies to Pursue Tokenized Trading of NMS US Equities
Fintech firm Blue Ocean announced plans to develop a platform for the tokenized trading of National Market System (NMS) US equities. The initiative aims to modernize equity exchange mechanisms.
In addition, the move leverages blockchain infrastructure to enable real-time settlement, fractional ownership, and 24/7 trading, expanding access beyond traditional market hours.
Morgan Stanley Enables Crypto Access for Clients
Investment behemoth Morgan Stanley announced that its clients can now access digital assets (starting on October 15), CNBC reported on October 10. Morgan Stanley also revealed AI-based tools with yet-to-be-announced restrictions.
Consequently, advisors can offer clients with RIAs and 401(k)s access to digital assets via Fidelity and BlackRock for now.
SEC Announces Crypto Exemption Formalization Plans
The top US financial regulator plans to formalize crypto exemptions. SEC Chairman Paul Atkins said the new rules could be ready by the end of 2025.
In addition, the move will enable enhanced innovation and the rapid deployment of digital asset setups.
Several Banking Giants Want a Joint G7-Focused Stablecoin
A consortium of major global banks, comprising Bank of America, Goldman Sachs, Citi, Banco Santander, TD Bank Group, Barclays, Deutsche Bank, UBS, and BNP Paribas, is working together to introduce a shared stablecoin. BNP Paribas indicated the proposed token will be part of digital money reserves in an October 10 announcement.
Furthermore, the proposed digital asset will focus on G7 currencies. The group has yet to reveal further details about the project.
Securitize is Reportedly in SPAC IPO Talks with Cantor Fitzgerald
Tokenization specialist Securitize is reportedly in discussions with Cantor Fitzgerald to go public via the blank check SPAC route, Bloomberg reported on October 10. Securitize reportedly intends to merge with Cantor Equity Partners II Inc. to facilitate the process.
Moreover, the deal could value Securitize at $1 billion.
Coinbase Unveils Staking Support for New York Residents
Premier crypto exchange Coinbase enabled staking services for residents of New York. Users can earn rewards on digital assets, including Ethereum (ETH) and Solana (SOL).
Furthermore, the move follows approval from state regulators and marks a significant expansion of Coinbase’s staking offerings.
Square Introduces Direct Bitcoin Payments, Voice Ordering
Block subsidiary Square launched direct Bitcoin payment support for merchants and an AI-powered voice ordering system. Businesses can now accept Bitcoin without third-party processors, using the Lightning Network for fast, low-cost transactions.
Merchants can settle in Bitcoin or convert instantly to fiat. The AI ordering tool enables restaurants and retailers to manage voice-based orders across devices and languages, with training tailored to each business’s menu or catalog.
Nasdaq’s Tether Gold Treasury Snaps Up $150 Million
Antalpha Platform Holding Company led a $150 million financing round to set up Aurelion Inc. as the first Nasdaq Tether Gold (XAUT) treasury firm. Antalpha invested $43 million, giving it control of voting rights in Aurelion.
In addition, Aurelion will trade under the Nasdaq: AURE ticker symbol from October 13.
Figment Joins Forces with Grayscale to Enable Ethereum, Solana Staking
Crypto asset manager Grayscale teamed up with Figment to introduce staking capabilities for its Ethereum and Solana investment products. The offerings include exchange-traded funds and trusts.
Additionally, Figment will provide the technical infrastructure that allows investors to earn staking rewards by participating in network validation processes.
The digital asset ETF space stayed quiet as the Government shutdown affected activities. Canary Capital amended filings for its HBAR and Litecoin ETFs to include 0.95% management fees for both offerings.
On October 7, 21Shares and Bitwise made changes to their ETFs. Bitwise renamed its product to the “Bitwise Solana Staking ETF” and enabled staking support. 21Shares added staking to its 21Shares Ethereum ETF (TETH) and waived its 0.21% sponsor fees (from October 9).
