Things continued to hum as the cryptocurrency space grew busy with collaborations and integrations.
The headlines:
- Oracle unveiled a product for regulated financial institutions;
- Stellar teamed up with Chainlink to boost DeFi ecosystems;
- WisdomTree selected BNY’s Banking-as-a-Service (BaaS) to power its WisdomTree Prime retail offering;
- Custodia Bank lost its master account appeal against the Fed;
- Western Union wants in on the stablecoin action;
- Plus, the Mt. Gox Trustee postponed creditor repayments by a year (more on that later);
- And much more!
As always, these are your Decentralized Diaries!
Bitcoin is at $110k (as of 11/01/25)
The cryptocurrency markets remained uncertain as Bitcoin moved from a high of $116,273.31 to a low of $106,376.68, settling at $110,443.03.
The altcoins are also swinging wildly.
Ethereum (ETH) is at $3,903.89, Solana (SOL) is at $186.87, Chainlink (LINK) is at $17.28, Avalanche (AVAX) is at $18.67, and Polkadot (DOT) is at $2.95.
Oracle Launches a New Solution for Regulated FIs
Data-focused behemoth Oracle introduced its Digital Assets Data Nexus on October 28. The platform helps banks harness tokenization, streamline settlement, and manage crypto assets.
Furthermore, the solution integrates blockchain-based data with traditional financial systems, enabling institutions to support tokenized deposits, stablecoins, and other digital instruments.
Stellar Selects Chainlink to Enhance DeFi Applications
XLM token issuer Stellar partnered with Chainlink to integrate decentralized oracle solutions. The partnership enhances the functionality and reliability of next-generation DeFi applications built on its network.
Additionally, the collaboration enables Stellar developers to access Chainlink’s real-time data feeds, including price information, event triggers, and off-chain computation.
Uphold Unveils America-Focused Debit Card
Boutique crypto exchange Uphold introduced a U.S. debit card that offers XRP crypto rewards and up to 10% in earnings. The card bridges everyday spending with digital asset benefits.
Moreover, the new Uphold Card enables users to spend from their crypto, fiat, or precious metals balances while earning XRP as cash back on purchases. Mastercard is the card’s issuer and is available to U.S. residents with no annual fee, and is compatible with Apple Pay and Google Pay.
WisdomTree Chooses BNY for its Retail Crypto Platform
Investment behemoth WisdomTree selected BNY as its Banking-as-a-Service (BaaS) provider for the WisdomTree Prime solution. WisdomTree is BNY’s first retail crypto client.
WisdomTree Prime’s users will gain banking functionality and blockchain connectivity, enabling seamless on- and off-ramp capabilities between traditional finance and digital assets.
Securitize Unveils Public Listing Plans
Tokenization specialist Securitize is going public via a $1.25 billion SPAC merger, marking a milestone in the tokenization of real-world assets. The BlackRock-backed firm is merging with Cantor Equity Partners II, a special-purpose acquisition company affiliated with Cantor Fitzgerald, to list on Nasdaq.
Moreover, the move comes as real-world asset (RWA) tokenization processes gain traction across sectors.
Chainlink, Ondo Team up to Tokenize Equities
Ondo Finance partnered with Chainlink to accelerate institutional adoption of tokenized stocks and ETFs. The partnership integrates decentralized oracle solutions.
Moreover, the collaboration enables Ondo to leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Proof of Reserve services to enhance transparency and reliability in tokenized asset offerings.
Court Upholds Fed Master Account Ruling Against Custodia Bank
On October 31, a U.S. appeals court upheld a prior ruling that Custodia Bank is not entitled to a Federal Reserve master account. The decision reinforces the Fed’s discretion over access to its payment systems.
In addition, the Tenth Circuit Court of Appeals affirmed a 2023 decision by Judge Scott Skavdahl of the U.S. District Court for the District of Wyoming, which stated that the Federal Reserve is not obligated to grant Custodia access to a master account.
Consensys Selects Goldman Sachs, J.P. Morgan for Public IPO
Decentralized blockchain leader Consensys selected Goldman Sachs and JPMorgan Chase as underwriters for its planned IPO, Axios reported on October 29. The move follows other crypto IPOs and focuses on the Ethereum ecosystem.
Axios reportedly indicated that the public listing could take place early next year. Consensys has yet to confirm further IPO and valuation details.
Frax Introduces a Stablecoin Money Account
Boutique Layer-1 network Frax launched FraxNet, a unified financial account for stablecoin users that merges payments, savings, and yield generation into a single platform. The solution replicates the core functions of traditional banking within a decentralized framework.
FraxNet allows users to send and receive stablecoin payments instantly, earn yield through integrated DeFi protocols, and automate savings strategies. It supports multiple blockchain networks, enhancing liquidity and accessibility, while also incorporating compliance features like KYC and AML to appeal to institutional users.
IBM Unveils Enterprise-Focused Crypto Platform
Tech giant IBM launched Digital Asset Haven, a platform designed to help banks and regulated enterprises securely participate in the digital asset economy. Digital Asset Haven supports financial institutions and government entities within blockchain ecosystems securely.
IBM developed the solution in collaboration with boutique wallet provider Dfns. The platform also offers secure custody, transaction lifecycle management, and policy-based governance across more than 40 blockchains.
Steak ‘n Shake Collaborates with Fold in Bitcoin Giveaway Offer
All-American restaurant chain Steak ‘n Shake launched a Bitcoin Burger promotion in partnership with crypto rewards ecosystem Fold. The tie-up offers real BTC rewards and enables users to earn Bitcoin tokens.
Furthermore, the collaboration offers customers $5 in Bitcoin when they purchase the new Bitcoin Burger or Bitcoin Meal and upload their receipt to bitcoinmealdeal.com via the Fold app. The limited-time offer is available at nearly 400 U.S. locations.
Western Union Reveals Stablecoin Launch Plans
Payments behemoth Western Union announced the launch of the U.S. Dollar Payment Token (USDPT), a Solana-focused stablecoin, on October 28. The initiative will support fast, low-cost cross-border payments and digital asset services.
Additionally, Anchorage Digital is the issuer of the token.
Mt. Gox Trustee Postpones Creditor Repayment Deadline by One Year
Bankrupt digital asset exchange Mt. Gox extended its repayment deadline by one year to allow more time for distributing Bitcoin and Bitcoin Cash to creditors. The defunct crypto exchange remains under a court-managed rehabilitation process.
Furthermore, the trustee overseeing the case adjusted the timeline for base, early lump-sum, and intermediate repayments, citing the need for additional time to complete asset distributions to verified creditors.
New Hampshire’s Crypto Mining Bill Stalls in the State Senate
In the Granite State, New Hampshire’s State Senate stalled a bill aimed at deregulating crypto mining after a split vote, halting its progress. The proposed legislation, House Bill 1504, sought to exempt digital asset mining from specific state regulations and classify it as a legal use of electricity.
Furthermore, the bill had previously passed the state House of Representatives but failed to secure a majority in the Senate due to a 12-12 tie vote.
Crypto ETFs Picked up
Despite political budget issues, digital asset ETF activities moved quickly. 21Shares filed an S-1 form with the SEC for a Hyperliquid-focused ETF on October 29.
An October 24 filing revealed plans by Canary Funds to amend its XRP Spot ETF application. On October 27, the NYSE approved the listing of the Bitwise Solana Staking ETF on the NYSE Arca.
Grayscale Investments launched its Solana Spot ETF on the NYSE Arca on October 29.
