Tokenovate Launches Novat Protocol to Streamline Tokenised Asset Settlement

UK fintech Tokenovate has launched the Novat, a new programmable settlement protocol for tokenised assets. The solution is designed to streamline post-trade operations, unlock liquidity, and reduce systemic risk in global capital markets. It addresses the fragmentation and reconciliation delays common in legacy workflows, which are under increasing pressure from the shift to T+1 settlement timelines.

The Novat Protocol tokenises the act of settlement itself, enabling the synchronised movement of assets and cash with automation and legal finality. By combining programmability with standardisation, the protocol aligns data, logic, and the legal record within one layer. This facilitates instant, atomic, and legally final settlement without altering existing custodial arrangements or market infrastructure.

The protocol is powered by the FINOS Common Domain Model (CDM), an industry data standard. This ensures that all on-chain actions reflect clearly defined contractual obligations, transforming market standards into executable logic for deterministic and transparent settlement.

GDF Report Assesses Legal Certainty of Tokenised Money Market Funds in UK, Ireland, and Luxembourg

Global Digital Finance (GDF) has announced findings from a working group report assessing the legal certainty and collateral mobility of Tokenised Money Market Funds (TMMFs) in Luxembourg, Ireland, and the UK. These jurisdictions are critical as Ireland and Luxembourg host over 80% of Europe’s MMFs. The working group included over 70 firms, such as JP Morgan, Blackrock, Lloyds Banking Group, and LSEG.

The report found relative legal certainty for TMMFs in Luxembourg due to existing statutory frameworks. The UK also demonstrated a low degree of legal uncertainty regarding the ownership and rights of digitally native TMMFs, with further clarity anticipated from the Property (Digital Assets etc.) Bill.

In contrast, Ireland currently lacks express statutory authority for tokenised shares. The report concluded that while Irish courts would likely treat TMMFs similarly to traditional shares by analogy, this certainty is not yet directly established in law. As part of the work, 30 firms also participated in the GDF Industry Sandbox, powered by Ownera, to prove the production use case for TMMF collateral mobility.

BitGo Becomes First U.S. Qualified Custodian for Canton Network’s Canton Coin (CC)

Digital asset infrastructure company BitGo has announced custody support for Canton Coin (CC), the native token of the Canton Network. The Canton Network is designed for regulated financial markets, enabling participants to build interoperable applications connecting real-world assets and payments. This integration marks the first time institutions can hold CC with a U.S-based qualified custodian.

BitGo’s institutional clients gain access to qualified, cold-storage custody, $250 million in insurance protection, and multi-signature security. The service also provides self-custody wallets for treasury operations and streamlined reporting and audit tools to meet regulatory compliance standards.

The Canton Network has seen growing adoption for its privacy-preserving infrastructure, processing trillions in tokenized assets. BitGo is expanding its support for the full range of Canton Network assets, including future integration for withdrawals, stablecoins, and trading access.

Broadridge Survey Finds Custodians Leading Rapid Tokenisation Adoption

Tokenisation of assets is shifting rapidly from theory to practice, according to a new whitepaper from Broadridge Financial Solutions. The report, “Next-gen markets: The rise and reality of tokenization,” is based on a survey of 300 financial institutions in North America and Europe. It reveals that custodians are leading this adoption, with 63% already offering tokenised assets and an additional 30% preparing to do so within two years.

Adoption rates vary across other sectors. While only 15% of asset managers currently offer tokenised products, 41% plan to launch them soon. Wealth managers remain the most cautious, with only 10% offering them and 33% planning adoption within the next two years, citing operational complexity as a primary driver for the slower uptake.

The survey found regulatory uncertainty to be the biggest challenge to wider adoption, cited by 73% of all institutions. Other barriers include security concerns, infrastructure gaps, and a lack of common standards. Broadridge, which reported $339 billion in average daily volumes on its Distributed Ledger Repo (DLR) platform in September, noted that the benefit gap between early adopters and non-adopters is widening.

Hamilton Lane’s Senior Credit Opportunities Fund Now Accessible via KAIO on Sei Network

KAIO, the onchain infrastructure for regulated real-world assets (RWAs), has expanded its tokenized fund offerings on the Sei Network, by bringing access to Hamilton Lane’s Senior Credit Opportunities Fund (SCOPE) onchain via the HL SCOPE Access Fund, targeting institutional and accredited investors.

This integration provides users on the Sei Network with expanded, crypto-native access to alternative investment strategies in private credit. KAIO utilises the Sei Network’s high-performance rails to offer secure and compliant access to alternative investment products directly onchain.

The HL SCOPE Access Fund provides a route into SCOPE, an all-weather senior private credit evergreen vehicle. The fund aims to generate consistent performance and cash yield, offering investors a diversified, multi-manager portfolio. Key features include immediate capital deployment and an option for monthly liquidity.

Integral Launches PrimeOne, the First Stablecoin-Based Crypto Prime Brokerage

Integral, specialists in FX and digital asset technology, has launched PrimeOne, the world’s first crypto prime brokerage built on stablecoins. The platform, developed on the Codex Layer-1 EVM blockchain, provides institutional-grade credit, trading, and net settlement services within a single, integrated system.

PrimeOne allows clients to access leading crypto market makers and exchanges through one account, simplifying the onboarding process with a single AML/KYC check and removing credit requirements. Its on-chain infrastructure ensures clients retain full control over their assets. As the value of open positions fluctuates, margin, in the form of USD stablecoins, is automatically moved between counterparty wallets in real-time.

This real-time settlement of margin aims to minimise counterparty credit risk and sets trading limits dynamically based on participants’ balances. The system is designed to improve liquidity and operational efficiency while significantly reducing capital requirements and credit exposure for institutional clients.

Deutsche Börse Group and Circle to Collaborate on Stablecoin Integration for Financial Markets

Deutsche Börse Group and Circle Internet Group have signed a Memorandum of Understanding (MoU) to integrate Circle’s EURC and USDC stablecoins into Deutsche Börse’s financial market infrastructure. This agreement, a first of its kind in Europe, aims to develop new solutions for market participants by linking token-based payment networks with traditional financial systems. The initiative is made possible by the EU’s Markets in Crypto Assets Regulation (MiCAR), with Circle being the first major global issuer to achieve compliance.

The collaboration will initially focus on listing and trading the stablecoins on 360T’s digital exchange, 3DX, and through institutional crypto provider Crypto Finance, both part of Deutsche Börse Group. The partnership will also establish institutional-grade digital asset custody via Deutsche Börse’s post-trade business, Clearstream, using Crypto Finance as a sub-custodian. This move is a key step in Deutsche Börse’s digital leadership strategy, building upon its existing crypto services and complementing its work on wholesale central bank digital currencies.

Canton Network Partners with Chainlink to Accelerate Institutional Blockchain Adoption

The Canton Network, a permissionless blockchain designed for institutional finance, has entered a strategic partnership with oracle platform Chainlink. The collaboration aims to accelerate the adoption of the Canton Network ecosystem by financial institutions. As part of the agreement, the Canton Network will join the Chainlink Scale programme and integrate key services, including Chainlink Data Streams, SmartData, and the Cross-Chain Interoperability Protocol (CCIP). Chainlink Labs will also operate as a Super Validator on the network.

This partnership provides institutions using Canton with access to Chainlink’s established infrastructure, which secures over $100B in assets across the digital economy. Under the Scale programme, the Canton Network will cover certain operating costs for Chainlink oracle nodes, thereby enhancing its own connectivity, resilience, and transparency. The move is designed to support further innovation in tokenised assets, stablecoins, and digital identity solutions on the network, which already supports over $6T in on-chain assets and processes $280bn in daily repos.

BitGo Europe Secures BaFin Approval to Launch Regulated Crypto Trading Services

BitGo Europe GmbH, the digital asset infrastructure company, has received an extension of its licence from Germany’s Federal Financial Supervisory Authority (BaFin). The approval allows BitGo Europe to expand its regulated offering to include crypto trading services from Frankfurt, enabling European institutional investors to access spot trading across a wide range of digital assets and stablecoins.

Through its over-the-counter (OTC) trading desk and electronic platform, BitGo Europe aggregates liquidity from multiple market makers and exchanges, offering clients competitive pricing and reliable execution. This expansion follows BitGo Europe’s initial MiCA licence approval from BaFin in May 2025, strengthening its regulated presence in the EU.

With custody, staking, transfer, and now trading services available under one framework, BitGo Europe positions itself as one of the few regulated custodians in the region to provide a full-stack platform. The integrated service aims to help institutions deploy capital more efficiently while maintaining security and compliance.

Monaco Launches Institutional-Grade Decentralised Trading Infrastructure on Sei Blockchain

Monaco, the decentralised trading protocol developed by Sei Labs and Monaco Research, has launched its central limit order book (CLOB) infrastructure on the Sei blockchain. The platform is designed to deliver Wall Street-level execution speeds within a decentralised framework, with the aim of capturing part of the projected $30 trillion tokenised asset market by 2034. Monaco achieves microsecond execution and leverages Sei’s 400-millisecond settlement, a major improvement over traditional T+1 settlement cycles.

Key features of Monaco’s infrastructure include a shared liquidity layer for broad institutional access, 24/7 trading support, and PitPass revenue sharing, which rewards builders and applications for contributing order flow. Unlike traditional payment for order flow models, PitPass distributes revenue transparently while maintaining best execution standards.