Chainlink’s DLT-Based Project Pangea Tackles T+0 FX Settlement

Oracle provider Chainlink’s Project Pangea has assembled 50+ banks across 16 countries to bring DLT-powered real-time atomic settlement to the $9.6 trillion per day foreign exchange market.

The project’s bank partners include members of three European and Korean consortia, while the technology base comprises Chainlink’s CCIP (Cross-Chain Interoperability Protocol), Swift’s ISO 20022 messaging service and DLT-based settlement technology from FairSquareLab, a Korean digital asset infrastructure developer.

FairSquareLab’s onchain settlement technology uses stablecoin transfers and smart contracts running on Ethereum, Polygon, and a proprietary L1 network. Banks access Pangea via existing Swift connections while Chainlink supports digital asset transfers and FX market data.

State Street Launches GENIUS Act Stablecoin Fund

State Street Investment Management has launched the State Street Stablecoin Reserves Money Market Fund, a regulated money market fund designed to support stablecoin issuers. The fund, which complies with the recently introduced GENIUS Act, offers a regulated reserve option for stablecoin issuers. State Street Bank and Anchorage Digital are the first investors in the fund.

Already the largest real-world application of DLT, USD-denominated stablecoins account for trillions of dollars in annual transactions. Since they are typically backed by short-term U.S. Treasury debt, the U.S. government views them as strategic to the country’s economy and as a result, issuers are required to maintain secure, liquid, and regulated funding pools.

Since money market funds currently represent the single largest tokenised asset category, the addition of funds designed to back stablecoins represents increased convergence of the traditional and digital asset securities spaces.

EIB Issues Commercial Paper on Clearstream’s D7 DLT; Looks to Hybrid Platform

The European Investment Bank (EIB) has issued the first DLT-native, Euro-denominated commercial paper on Clearstream’s D7 DLT platform. The EUR 77.5 million issuance was made in compliance with Europe’s Central Securities Depositories Regulation (CSDR) and involved Citi as sole dealer and issuing/paying agent, as well as BIL, DekaBank, DZ BANK, Eurex Clearing, Union Investment and Volksbank Mittlerer Schwarzwald as primary investors.

Subsequently, DekaBank and Eurex Clearing were able to demonstrate collateral mobility for the DLT-based tokenised securities through Clearstream’s triparty collateral management solution and the European Collateral Management System to support financing with the Bundesbank.

Launched in 2025 following substantial trials with the European Central Bank, D7 DLT is a private, permissioned distributed ledger platform designed by Clearstream in collaboration with Google Cloud.

Following the EIB issuance, Clearstream has announced plans to create a hybrid infrastructure to support both traditional and digital securities. Market participants will be able to hold and combine traditional securities, DLT-based tokenised securities and cash in a single portfolio.

The hybrid offering will launch in stages during 2026 and 2027. Subject to regulatory approval, it will cover the entire securities lifecycle, from issuance, distribution, settlement and custody, through to asset servicing, liquidity and financing.

Clearstream Unveils Next-Generation Hybrid Digital Securities Infrastructure

Clearstream, the post-trade business of Deutsche Börse Group, has announced a next-generation digital securities infrastructure designed to integrate traditional and tokenised asset markets. The hybrid platform will enable market participants to combine traditional securities, digital assets, and various cash forms within a single portfolio. Operating across Europe and connecting 60 global markets, the initiative aims to support the EU’s Savings & Investments Union by streamlining international investment flows.

Launching in phases throughout 2026 and 2027, the infrastructure remains subject to regulatory approval. Once live, it will span the full securities lifecycle—including issuance, settlement, custody, and financing—for all assets regulated under the EU’s MiFID and MiCA frameworks. The platform will grant institutional access to blockchain technology, stablecoins, and security tokens regardless of the underlying technology or asset type.

Developed alongside market partners, the platform builds on Clearstream’s existing financial infrastructure, which holds EUR 22 trillion in assets under custody. The collaboration focuses on practical market applications, such as large-scale asset tokenisation, direct blockchain settlement, and the reuse of digital assets as collateral across multiple transactions.

Gold-i Expands DeFi Access with Derive.xyz Integration on MatrixNET

Trading technology provider Gold-i has integrated Derive.xyz, the largest on-chain options exchange, into its multi-asset liquidity management and distribution platform, MatrixNET. The move marks Gold-i’s second decentralised finance (DeFi) integration, following its recent partnership with the perpetual futures and spot trading platform Hyperliquid.

The integration enables Gold-i’s institutional client base—including brokers, proprietary trading firms, and fund managers—to access Derive’s liquidity pools. This access is supported across several mainstream trading platforms, including MT4, MT5, DXtrade, and CLEO. Additionally, the partnership opens commercial avenues for Gold-i to offer its technology to Derive’s native user base of corporate treasuries and foundations.

By routing through MatrixNET’s ultra-low latency infrastructure, institutional users can access deep liquidity and customisable execution models. The platform provides advanced routing and aggregation features designed to help clients secure better pricing, attract more customers, and mitigate toxic trading.

DTCC and Stellar Development Foundation Partner to Tokenize Real-World Assets

The Depository Trust & Clearing Corporation (DTCC) and the Stellar Development Foundation (SDF) have announced a partnership to enable the tokenization of assets custodied by The Depository Trust Company (DTC) on the Stellar network. This collaboration follows an SEC No-Action Letter received in December 2025, which authorized DTC to implement a new service for digital asset tokenization. The initiative aims to provide market participants with faster settlement, greater asset mobility, and reduced costs while maintaining identical investor protections and safeguards as traditionally held securities.

The integration is projected to launch in the first half of 2027, supporting the rapid conversion of traditional assets alongside full lifecycle management, corporate actions, and reporting. In the interim, both organizations will collaborate to evaluate tokenization use cases for highly liquid asset classes. This will include constituents of the Russell 1000, exchange-traded funds (ETFs) tracking major indices, and U.S. Treasury bills, bonds, and notes, ensuring full compliance with DTC’s regulatory obligations.

FIX Trading Community Releases Free ‘Blockchain Basics’ Manual for Finance Professionals

The FIX Trading Community has launched “Blockchain Basics”, a comprehensive, vendor-neutral manual designed to help finance professionals integrate digital assets and blockchain technology into traditional systems. Developed in partnership with QUBIC Labs, the guide bridges the gap between decentralized finance (DeFi) and traditional finance (TradFi) by covering core concepts, regulatory contexts, tokenisation, and workflow impacts.

The publication addresses a long-standing information gap in the industry, offering the first single source of education on implementing DeFi tools within existing infrastructures. Because virtually all trading firms rely on the FIX Protocol, this resource centralises the necessary information for firms evaluating digital asset products.

Available for free on the FIX website, the manual is accompanied by a newly published set of recommended practices. This additional guidance assists firms with the technical implementation of digital asset workflows and trading.

STS Digital Ltd. Secures Full Digital Asset Business Licence from Bermuda Monetary Authority

STS Digital Ltd. has been granted a Full ‘F’ Licence by the Bermuda Monetary Authority (BMA) under the Digital Asset Business Act 2018. This represents the highest level of regulatory authorisation in the jurisdiction, placing the firm alongside major institutional entities such as Circle, Coinbase International, and Payward. The milestone marks the final stage of the BMA’s rigorous licensing pathway, making STS Digital one of only a few companies to have successfully completed the entire transition from testing to full graduation.

The firm’s regulatory journey spanned three years, beginning with a Test Licence in May 2023. This was followed by a Modified Licence in April 2025, culminating in the Full ‘F’ Licence on 30 April 2026. By progressing through every stage of the framework, STS Digital has demonstrated compliance with one of the world’s first comprehensive digital asset regimes.

Bermuda remains a premier international financial hub, boasting Solvency II equivalence with the European Union and hosting the third-largest insurance market globally. The BMA’s oversight provides a robust institutional foundation for digital asset businesses, ensuring high standards of transparency and security within the sector. This approval reinforces STS Digital’s position within a highly regulated global marketplace.

DTCC to Integrate Chainlink Technology into Digitally Native Collateral AppChain

The Depository Trust & Clearing Corporation (DTCC) has announced it will leverage the Chainlink Runtime Environment (CRE) and Chainlink’s data standards to power its new Collateral AppChain platform. This shared infrastructure is designed to modernise collateral mobility and improve capital efficiency across the global financial services industry. By integrating the CRE, the platform will gain access to a resilient data and orchestration layer, facilitating automated workflows for complex post-trade processes including valuation, margining, and collateral optimisation.

The partnership aims to overhaul global market risk management by enabling the seamless pairing of asset prices and valuations with asset movement. Unlike traditional one-off integrations, the CRE provides a reusable framework, allowing the Collateral AppChain to scale efficiently across diverse asset classes and new data types. This interoperable foundation is intended to serve a wide range of market participants, from collateral providers and managers to triparty agents and custodians. Following its initial unveiling during the ‘Great Collateral Experiment’, the platform is scheduled to go live in the fourth quarter of 2026.

LMAX Group Launches Kiosk to Facilitate Institutional Digital Asset Collateral

LMAX Group has introduced Kiosk, a fully hosted interface designed to help institutional clients manage digital assets as cross-asset collateral. The portal allows users to deposit assets directly into LMAX Custody, where they can be instantly deployed to trade a variety of instruments, including spot FX, precious metals, digital assets, CFDs, and perpetual futures. By providing a secure and integrated environment, the platform aims to help firms broaden their digital asset offerings with minimal technical friction.

The solution is engineered to reduce operational fragmentation by consolidating essential treasury and security functions into a single workflow. Key features include tools for deposits and withdrawals, API credential management, and WalletConnect integration. By streamlining these processes, Kiosk enables institutions to access deep liquidity across the LMAX ecosystem more efficiently.

This launch addresses the increasing global demand for institutional-grade digital asset infrastructure. By simplifying the transition between custody and active trading, the platform helps clients unlock new revenue opportunities while maintaining rigorous security controls. The initiative reinforces LMAX Group’s position as a provider of integrated marketplace solutions for the evolving cross-asset landscape.