Julian Sawyer, CEO of Zodia Custody, described Standard Chartered’s ongoing acquisition of the firm as a “major validation” that highlights a growing reality in mainstream finance: legacy banks cannot build institutional-grade digital asset custody safely or efficiently without proper software.

Instead of treating crypto as an isolated sector, Sawyer noted that the industry is hitting a maturity point where the underlying blockchain infrastructure is moving toward real-world asset tokenization and stablecoin payments.

“This is the maturity point of where custody of the blockchain…is moving from crypto to other assets, stable coins and tokenization,” he said in an interview with CoinDesk on Wedneday. “If you’re going to do that, you need trust. Trust is what banks do.” Because these financial use cases require absolute trust, global banks are moving to acquire established platforms to gain immediate scale and secure bank-grade tech.

Sawyer noted that client’s interest in their infrastructure software has scaled dramatically. “Every single bank is going to need to know how to hold digital assets,” Sawyer said.

“The big guys are absolutely looking, and everybody else who’s thinking about stablecoins… thinking about tokenization needs to have an answer. So the market is huge.”

Standard Chartered acquisition

Sawyer confirmed that Standard Chartered’s full acquisition of the firm is on track to target a signing at the end of June and complete by the end of August.

He declined to disclose the purchase amount or valuation. In 2023, Zodia announced a $36 million funding round led by SBI Holdings. Market estimates place the custodian’s annual revenue at roughly $34.6 million. Market estimates place the custodian’s annual revenue at roughly $34.6 million with a current total funding of roughly $46 million.

He said that under the acquisition agreement, Standard Chartered’s existing digital custody business in Dubai, Luxembourg, and Hong Kong will merge with Zodia Custody and ultimately fold into Standard Chartered under its brand, meaning Zodia Custody will not exist in the medium term.

Concurrently, a new entity called Zodia Solutions will carry forward the software and infrastructure side of the business, backed by existing bank shareholders including Northern Trust, Emirates NBD, and National Australia Bank.

“This is a major validation,” Sawyer said, detailing the systemic impact of the consolidation. “Every bank in the world is going to do something with digital assets…they are going to need to know and have some technology to be able to hold those assets.”

Global regulation

Institutional integration is forcing a regulatory convergence worldwide. When asked whether the U.K. is holding back from becoming the crypto hub it aspires to be due to internal friction between the Bank of England, the Treasury, and the Financial Conduct Authority (FCA), Sawyer acknowledged the shifting tides.

“I guess I’m old enough to remember when the FCA was ahead of the market and people did come to the UK to set up,” Sawyer noted. “I think one of the fascinating parts of our industry is that each jurisdiction, each government, is moving at a different pace .”

He highlighted the “huge progress” in Asia and Singapore, as well as new regulations in Hong Kong and Abu Dhabi. “The message I would have is this is a very evolving ecosystem and that regulators and the participants need to continue to evolve.”

While some industry participants worry that Wall Street giants will completely take over the sector, Sawyer suggests the crypto industry is naturally moving toward banking due to compliance laws like Know Your Customer (KYC) and Anti-Money Laundering (AML).

“The crypto industry is moving towards banking because of the law,” Sawyer stated.

New research released by Paybis at Money20/20 Europe suggests that stablecoins are rapidly evolving from a crypto-native tool into a core component of business payment infrastructure, with B2B transactions now accounting for the overwhelming majority of stablecoin payment volume.

According to the company’s latest Stablecoin Infrastructure Report, business adoption is accelerating across cross-border settlements, treasury management, supplier payments, and international payouts. The findings challenge the long-standing narrative that retail checkout payments would become the primary use case for stablecoins.

B2B Stablecoin Payments Reach Critical Scale

The report cites market research indicating that approximately $390 billion in stablecoin payment volume was processed globally in 2025, with around 60% originating from business-related transactions. B2B stablecoin payments reportedly grew by 733% year-over-year, highlighting increasing demand for faster and more efficient international payment rails.

Paybis’ internal transaction data reflects a similar trend. Stablecoins represented just 12% of crypto transaction volume on the platform in 2023. By April 2026, that figure had climbed to nearly 86%, making stablecoins the dominant asset category processed through the company’s infrastructure.

Even more notable is the shift in customer composition. B2B transactions accounted for approximately 36% of Paybis stablecoin volume in 2023, increasing to more than 70% in 2024 and reaching nearly 98% throughout 2025 and the first months of 2026.

The company reported a cumulative $2.81 billion in stablecoin transaction volume between 2023 and 2026.

Cross-Border Payments Drive Adoption

The strongest adoption appears in sectors that regularly move funds across borders and require efficient settlement mechanisms.

According to Paybis, the largest B2B stablecoin categories since April 2024 have included:

• Digital Goods
• Virtual Assets Businesses
• Technology Companies
• Retail and E-commerce
• Financial Technology Firms

Together, these sectors represented more than three quarters of the platform’s B2B stablecoin activity.

For many businesses operating internationally, traditional payment systems continue to present challenges related to settlement delays, banking fees, liquidity management, and operational complexity. Stablecoins are increasingly being evaluated as an alternative settlement layer capable of reducing friction while improving transaction speed and transparency.

Businesses Still Misunderstand Stablecoin Costs and Settlement Speed

Despite growing adoption, the report highlights a significant knowledge gap among business decision-makers.

In a survey of more than 1,000 respondents, only 53% correctly believed that international stablecoin transfers settle almost instantly. The remaining participants expected settlement times ranging from one hour to an entire day.

Similarly, fee expectations varied considerably. While stablecoin payment costs are generally considered competitive compared with traditional international payment methods, survey participants were almost evenly divided between expecting very low fees and significantly higher costs.

The findings suggest that education and implementation clarity remain major obstacles to broader enterprise adoption.

Stablecoins Becoming Financial Infrastructure

Commenting on the findings, Konstantins Vasilenko, Co-Founder and CBDO of Paybis, said:

“Stablecoins have moved from a crypto niche to business infrastructure. B2B is now the overwhelming majority of volume on our platform, driven by companies that need faster cross-border settlement and treasury movement.”

Vasilenko believes the next phase of growth will depend less on awareness and more on integration.

Businesses increasingly want access to stablecoin-based settlement without having to manage complex blockchain infrastructure themselves. As a result, regulated providers offering compliant on-ramp, off-ramp, treasury and payment solutions may play a key role in accelerating adoption.

Looking Ahead

While stablecoins still represent a relatively small portion of global payment activity, current market data suggests they are finding product-market fit in specific business workflows where speed, cost efficiency and cross-border accessibility are critical.

As regulatory frameworks continue to mature and enterprise infrastructure improves, stablecoins may become an increasingly common component of international business payments rather than simply a cryptocurrency use case.

With major industry discussions taking place this week at Money20/20 Europe in Amsterdam, the debate is no longer whether stablecoins can be used for payments, but where they deliver the greatest value. Current data increasingly points toward business adoption rather than consumer checkout experiences.

A physical bitcoin BTC$66,747.24 from the legendary 2011-2013 Casascius mint had its hologram seal removed on Wednesday and the 25 BTC stored inside, worth $1.70 million at current prices, transferred to a new wallet.

Casascius coins were physical tokens created by software engineer Mike Caldwell in denominations of 0.5, 1, 5, 10, 25, 100 and even 1,000 BTC. Each coin had its receiving bitcoin address printed on the outside, with the matching private key concealed under a tamper-evident hologram on the back.

Holders could spend the bitcoin at any time by peeling the hologram and importing the private key into a wallet, a one-way move that destroyed the coin’s collectible status.

Caldwell halted production in late 2013 after the U.S. Financial Crimes Enforcement Network advised him he was operating as a money transmitter without a license.

Intact-hologram Casascius coins continue to occupy an unusual category in collectibles markets. Each piece holds real bitcoin at face value and commands a numismatic premium for the physical artifact when sold intact in collector markets. Thousands of Casascius coins remain unredeemed across all denominations, trackers show.

Caldwell minted fewer than 20 of the 1,000-BTC denomination pieces, most of which are still intact and would each now hold the equivalent of roughly $66 million in bitcoin. While the project inspired a wave of physical-bitcoin successor mints including Lealana, Denarium and BTCC, Casascius remains the most collected by a wide margin.

Peeling a Casascius is a one-way trade with real economic stakes. Intact Series 1 large-denomination coins typically command a premium over their face bitcoin value, meaning the Wednesday redemption converted what could have been a higher-priced collectible back into pure bitcoin.

The redemption, recorded in Bitcoin block 952,159, arrives during a week of unusual activity at the dormant end of Bitcoin’s UTXO set, with a 2011-era wallet moving 35 BTC after 15 years of dormancy.

Kraken-affiliated Payward Services has unveiled a tokenized IPO program that would give retail investors access to U.S. public offerings.

According to Payward Services, customers of Kraken and selected members of its xStocks Alliance will soon be able to register interest in upcoming U.S.-listed IPOs before companies begin trading on public markets. Eligible investors who receive allocations will obtain tokenized shares on listing day at the IPO offering price.

The company said the shares will be backed 1:1 by the underlying stock, which will be held in custody by a regulated entity. Payward Services said the structure is designed to give retail investors access to allocations that have traditionally been available mainly to institutional clients and high-net-worth investors.

Coming months after Kraken expanded its presence in regulated financial markets through acquisitions and new product launches, the initiative adds another offering tied to tokenized versions of traditional assets. 

In late 2025, Kraken acquired xStocks operator Backed Finance, while more recently the exchange outlined plans to introduce regulated Bitcoin perpetual futures in the United States through infrastructure obtained from its Bitnomial acquisition.

Retail investors to submit IPO interest before listings

Under the process outlined by Payward Services, participating exchanges will open an indication-of-interest period several weeks before a company’s public debut. During that period, customers can submit non-binding requests to purchase shares within the expected pricing range.

After collecting demand from participating platforms, Payward Services said it will coordinate with an underwriting syndicate before final allocations are determined on the day the company lists publicly.

Once allocations are finalized, the shares will be converted into tokenized assets and distributed through partner exchanges. According to Payward Services, investors will be able to gain exposure to newly listed companies without opening accounts with traditional brokerage firms.

Mark Greenberg, global head of Payward Services, said access to IPO pricing has historically depended on geography and wealth.

“Going public should mean public to everyone. Now a retail investor in Medellín, Madrid, or Malaysia can have similar access to a U.S.-listed IPO, and Payward Services’ xStocks infrastructure is finally making that possible for the masses.”

First offerings expected within weeks

In its announcement, Payward Services said the first tokenized IPO opportunities are expected to become available to Kraken users and other xStocks Alliance participants in the coming weeks. The company added that additional launch partners and markets are expected to join over time.

At a time when financial firms continue testing blockchain-based versions of traditional assets, Bernstein Research estimated that the tokenized real-world asset sector has reached $51 billion after growing 42% this year.

Payward Services also disclosed performance figures for its tokenized equities network. According to the company, xStocks processed more than $30 billion in transaction volume during its first year, including over $6 billion settled on-chain, while serving more than 125,000 holders worldwide.

Those figures arrive as exchanges and financial institutions continue competing to bring conventional market products onto blockchain infrastructure, with tokenized stocks, funds, and other regulated assets becoming an increasingly active area of development.

XRPPower unveils AI-driven digital asset platform focused on automation, transparency, and data traceability.

In the recent volatile cryptocurrency market, more and more investors are realizing that relying solely on price increases to generate profits is becoming increasingly difficult. The market’s sharp fluctuations not only test investors’ patience but also place immense psychological pressure on many long-term holders.

A Bitcoin investor from the United States shared his experience: he bought 10 BTC at nearly $100,000 during the market peak in 2025, expecting the price to continue rising. However, as the market corrected, the price of Bitcoin fell to around $70,000, resulting in a significant reduction in his account assets. This is not an isolated case; many cryptocurrency investors have experienced similar market volatility and are beginning to rethink how to achieve stable returns in bear markets and volatile market conditions.

Entering 2026, with the rapid development of fintech and artificial intelligence, the digital asset industry is undergoing a new transformation. XRPPower combines an AI intelligent analysis system with automated management technology to launch a brand-new digital asset service model. The platform prioritizes transparency, data traceability, and process verification. Through an intelligent system, it reduces human interference, providing users with a more convenient and efficient experience.

How to join XRPPower and experience its AI-powered intelligent profit model?

1. Register an Account

Quickly register and log in to the XRPPower platform using an email address. New users receive a $21 bonus upon successful registration.

2. Choose a Contract Plan

The platform offers various contract plans with investment periods ranging from $100 to $100,000. Users can choose a suitable profit model based on their needs and financial plans.

3. Activate the Contract

Users can use XRP, BTC, and other mainstream cryptocurrencies to pay contract fees and activate the contract.

4. Earn Profits

Once the contract becomes active, profits will be automatically credited to the account balance according to platform rules. Users can choose to withdraw directly or continue participating in other contract plans for more profit opportunities.

5. Invite Friends

Invite friends to register and join XRPPower to earn up to 3% + 2% team rewards. As the team grows, users can continue to enjoy corresponding reward benefits.

XRPPower platform security and compliance guarantees

1. International compliance management

Headquartered in London, UK, XRPPower continuously monitors global digital financial regulatory developments and references international financial industry compliance standards to constantly improve its platform operation system, providing users with a safer and more transparent service environment.

2. International audit and risk control

The platform references the risk management concepts of internationally renowned institutions such as PwC, Deloitte, EY, and KPMG to continuously improve internal management, operational transparency, and risk control levels.

3. Multi-layered security protection system

XRPPower employs bank-grade data encryption technology, multi-factor authentication (2FA), an enterprise-grade DDoS protection system, and a real-time risk monitoring mechanism to comprehensively protect user accounts, data, and assets.

4. User security and privacy protection

The platform strictly implements KYC identity authentication and AML anti-money laundering management mechanisms and has established a comprehensive data security and privacy protection system, committed to creating a safe, stable, and reliable digital service platform for global users.

 About XRPPower

To date, XRPPower has attracted users from numerous countries and regions worldwide. The platform consistently adheres to the core development principles of security, transparency, and innovation, providing users with a more stable and convenient digital service experience through a continuously improving security system, intelligent technical support, and a global service network. In the future, XRPPower will continue to focus on user needs, continuously driving technological innovation and ecosystem development to help more users seize the development opportunities of the digital economy era.

Join XRPPower now and embark on a new digital journey, letting action create value and opening up more possibilities for the future.

For more information, visit the official website and download the mobile app.

The Russian ruble-backed A7A5 stablecoin continued to grow despite Western sanctions, processing more than $110 billion in cumulative onchain transactions, according to CertiK.

CertiK said A7A5 processed over $110 billion in cumulative onchain transactions, captured about 43% of the global non-US dollar stablecoin market, and that its holder count rose from 13,000 to 29,000 wallets between February 2025 and May 2026.

The security company described A7A5 as one of the clearest examples of a sanctions-evasion stablecoin ecosystem, linking it to Russian cross-border settlement companies.

The growth highlights the limits of Western sanctions against blockchain-based payment systems, including the European Union’s 19th sanctions package, adopted on Oct. 23, 2025, which prohibited transactions involving A7A5 from Nov. 12. CertiK said the reserve structure places key assets outside direct Western enforcement reach.

A7A5 cumulative activity, all-time chart. Source: CertiK

A7A5 was issued in January 2025 by Old Vector LLC, a Kyrgyz entity acting on behalf of the Russian cross-border-settlement firm A7 LLC, which is co-owned by Moldovan-Russian oligarch Ilan Shor and Russian state-owned defense sector lender Promsvyazbank.

Russian authorities later recognized A7A5 under the country’s digital financial asset framework.

The stablecoin recorded $11.2 billion in trading volume across A7A5/RUB and $6.1 billion in A7A5/USDT trades, primarily through Grinex, which is the successor to Garantex, the platform that previously functioned as a laundering venue for Conti, Black Basta, LockBit and some illicit funds attributed to North Korean-linked actors, including $30 million from the 2022 Horizon Bridge hack sent to Garantex in February 2023.

US Secret Service seized the Garantex domain in March 2025, while Tether froze approximately $28 million in USDt (USDT) held by Garantex-controlled wallets.

A7A5 was designed to replicate some of USDT’s stablecoin utility while keeping issuance, reserves and freezing authority outside Western-controlled infrastructure.

Related: Recovery hopes fade as Kelp DAO hacker launders nearly all $220M in stolen funds

Can Western sanctions curb A7A5’s circulation?

The creators of the ruble-backed stablecoin have designed it without a centralized kill switch, meaning that the smart contracts responsible for wallet and fund freezes are controlled entirely by its Russian and Kyrgyz developers, according to Jonathan Riss, OSINT and blockchain intelligence analyst at CertiK.

The stablecoin’s reserves also sit in Central Asian banking networks, predominantly in Kyrgyzstan and in the Russian banking system, meaning that the funds are outside the reach of Western sanctions.

A7A5 also relies on a distributed distribution model through decentralized finance (DeFi) liquidity pools such as Curve and Uniswap to prevent getting frozen by centralized exchanges, CertiK’s Riss told Cointelegraph, adding:

“While Western regulators cannot directly rewrite the Ethereum or Tron blockchain to erase A7A5, the EU’s 19th package and parallel US/UK actions target the physical and digital choke points.”

The stablecoin’s creators designed A7A5 with careful consideration of the above three “immunities” to evade sanctions that crippled their previous evasion methods, such as Tether’s USDT, Riss said.

A7A5 network chart. Source: CertiK

Shor owns 51% of A7 LLC as the majority owner. He served as a former Moldovan parliament member until 2017, when he was convicted by a Moldovan court in connection with a 2014 theft of around $1 billion from three Moldovan Banks. He fled Moldova in 2019 and obtained Russian citizenship.

He was sentenced in absentia to 15 years in prison in 2023. He currently resides in Moscow.

Magazine: The legal battle over who can claim DeFi’s stolen millions 

Strategy’s (MSTR) recent bitcoin BTC$66,597.12 sale has had an outsized impact on market sentiment, but Wall Street bank Citi says spot bitcoin exchange-traded fund (ETF) flows are the primary driver of BTC prices.

Markets were rattled after Strategy disclosed the sale of a small portion of its bitcoin holdings, marking a rare departure from Executive Chairman Michael Saylor’s long-standing “buy and hold” approach. The largest cryptocurrency has slumped 9% since Sunday and earlier Wednesday dropped to the lowest since March.

The sale should not have been a surprise, the bank said. Executive Chairman Michael Saylor mentioned plans to dispose of certain tax-disadvantaged bitcoin holdings as part of a portfolio optimization effort during its first-quarter earnings call. A bigger issue is the lack of investor demand.

“Recent flows have been negative, and the chances for the passage of a U.S. market structure bill (a potential catalyst for renewed investor interest in our view) are diminishing,” analyst Alex Saunders wrote in the Tuesday report.

Saunders said spot bitcoin exchange-traded fund (ETF) flows remain the primary driver of BTC prices, estimating they account for about 45% of weekly return variation. The ETFs have experienced a record 11 straight days of net outflows, which, he said, signals a broader lack of investor demand for the cryptocurrency.

The report also warned that the chances of a U.S. crypto market structure bill passing this year appeared to be declining, reducing the likelihood of a near-term catalyst for fresh investor inflows.

Combined with bitcoin’s underperformance relative to equities, the fading legislative outlook is likely to keep sentiment muted absent regulatory progress or renewed concerns about fiscal sustainability, the report added.

Read more: Bitcoin faces outsized quantum threat as computing breakthroughs accelerate, Citi says

UPDATE (June 3, 14:10 UTC): Adds BTC performance this week, ETF outflow streak record)

TLDR

• Evernorth stated that real banks are already using XRP through regulated stablecoin issuance.
• Société Générale launched its EURCV stablecoin on the XRP Ledger and other public blockchains.
• EURCV operates under the European Union’s MiCA regulatory framework.
• Evernorth said the next 18 months will determine scale, chain selection, and compliance models.
• The firm emphasized that adoption will occur through gradual product launches by regulated institutions.

Evernorth said established banks already use public blockchains for regulated products, including XRP. The firm pointed to Société Générale’s EURCV stablecoin launch across several networks. It stated the next 18 months will determine scale, chain selection, and regulatory alignment.

XRP Selected as Société Générale Expands EURCV Across Public Chains

Evernorth referenced Société Générale’s digital asset unit, SG-FORGE, which issued the euro-backed EUR CoinVertible stablecoin. The bank deployed EURCV on the XRP Ledger, Ethereum, Stellar, and Solana. Evernorth wrote on X that “real banks are already using XRP” through regulated stablecoin issuance.

The company said EURCV ranks among the largest euro-denominated stablecoins in circulation. It explained that U.S. dollar stablecoins still dominate the market share. However, it stated Europe continues building regulated digital money infrastructure under clear supervisory rules.

Evernorth said the blockchain choice signals institutional confidence in selected networks. It stated that major banks evaluate technical stability and compliance readiness before deployment. Therefore, it described XRP’s inclusion as part of a defined infrastructure selection process.

The firm added that SG-FORGE structured EURCV under European financial regulations. It confirmed that the stablecoin operates as a fully backed digital euro instrument. As a result, it emphasized that regulated entities already use public chains for financial settlement.

MiCA Rules Shape XRP Adoption and Network Competition

Evernorth linked the rollout to the European Union’s Markets in Crypto-Assets Regulation, known as MiCA. It stated that MiCA provides operational clarity for issuing and managing digital asset products. The framework became fully effective last year across EU member states.

The company said MiCA offers standardized licensing and disclosure requirements for stablecoin issuers. It explained that these rules give banks defined compliance pathways. Consequently, regulated institutions can deploy blockchain-based instruments within an established legal structure.

Evernorth compared MiCA with ongoing legislative efforts in the United States. It referenced proposals such as the CLARITY Act as examples of developing frameworks. However, it stated that Europe currently provides clearer operational guidance.

The firm wrote that the next 18 months will focus on measurable adoption outcomes. It said, “The next 18 months will be about how much, on which chains, and under which set of rules.” Therefore, it framed the period as a testing phase for network scalability and compliance capacity.

Evernorth said blockchain adoption will occur through incremental product launches rather than single announcements. It stated that banks will continue issuing regulated financial instruments on selected chains. The company identified the EURCV deployment as the latest confirmed step in that process.

On May 29, 2026, at 4:00 p.m. Central Time, CME Group flipped the switch. The world’s largest regulated derivatives exchange now trades Bitcoin and Ethereum futures and options around the clock, seven days a week, with only a short maintenance pause. 

The change covers nine crypto assets: Bitcoin, Ethereum, Solana, XRP, Cardano, Chainlink, Stellar, Avalanche, and Sui. The first weekend saw more than 7,200 contracts traded. It sounds like a dry piece of market plumbing, and in one sense it is. 

But it quietly kills one of the most-watched quirks in all of crypto trading, the “CME gap,” and it marks a real milestone in how thoroughly traditional finance has absorbed digital assets. This piece explains what changed, why institutions pushed for it, what it does to the famous weekend gap, and the catch that most of the celebratory coverage is leaving out.

What actually changed

For years, CME’s crypto futures ran on traditional-market time. Trading opened Sunday evening and closed Friday afternoon, with the market shut for roughly 48 hours every weekend. That made sense for the exchange that has historically traded corn, oil, and interest-rate futures. It made much less sense for an asset class that never stops.

As of May 29, 2026, that closure is gone. CME crypto futures and options now trade nearly 24 hours a day, seven days a week, on its Globex electronic platform. The only interruptions are a two-minute maintenance window on weekdays between 4:00 and 4:02 p.m. Central Time, and a longer two-hour window on weekends. Continuous trading kicked off at 4:00 p.m. Central, which is 10:00 a.m. UTC. As close to always-on as a regulated exchange realistically gets.

The product roster is broad. Bitcoin futures, which CME first launched in December 2017, and Ether futures, added in 2021, anchor the lineup. Around them sit futures on Solana, XRP, Cardano, Chainlink, Stellar, Avalanche, and Sui. All of them now fall under the 24/7 umbrella, giving institutional traders continuous access to a diversified crypto derivatives portfolio on a single regulated venue. CME also rolled out Bitcoin Volatility futures, a product that lets traders position on Bitcoin’s volatility itself, available 24/7 from June 1.

The early demand was real. CME reported more than 7,200 contracts traded during the first weekend of continuous operation. Average daily volumes for crypto futures in early 2026 were already up 46 percent year-over-year, reaching around 407,200 contracts, with open interest near 335,400 contracts at launch. The weekend trading is not a token gesture. There is genuine appetite for it.