Crypto World
Low-touch off-ramps can unlock web3
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.
If DeFi and TradFi truly converge, the pressure point will be on and off-ramps. Few things, other than secure custody, are more critical than having a low-friction way to convert digital tokens into the fiat currency people use every day. For years, that conversion layer was crypto’s weakest link, slowing down mass adoption.
Summary
- Off-ramps are crypto’s real bottleneck: Without fast, low-cost fiat exits, trillions in on-chain value remain operationally trapped and disconnected from the real economy.
- Institutional rails are changing the game: Integrations with Visa Direct and real-time payment networks turn crypto into spendable money, not just tradable assets.
- Infrastructure drives adoption, not narratives: Seamless on- and off-ramps determine whether web3 stays parallel to finance — or becomes embedded within it.
When the age of cryptocurrency first began, off-ramping was clunky, slow, and often expensive. Converting digital tokens into dollars or euros typically requires multiple intermediaries, exchange accounts, manual bank transfers, and waiting periods that could stretch for days. Fees were opaque. Settlement times were inconsistent. In many jurisdictions, reliable withdrawal rails barely existed. This friction did more than frustrate users. It held the industry back.
Liquidity trapped inside exchanges limited crypto’s usefulness as a medium of exchange. Businesses hesitated to integrate digital assets into their operations because accessing fiat capital was operationally complex. Freelancers paid in crypto often waited days before funds became spendable. For many users, difficulty exiting positions reduced confidence in entering them in the first place. Crypto built a powerful on-chain infrastructure, but without efficient exit rails, digital value could not fully connect back to the real economy. That bottleneck is now being addressed.
Earlier this year, Mercuryo integrated off-ramp services with Visa Direct, enabling users to convert crypto balances directly to a credit or debit Visa card. The service provides fast, low-cost conversion into fiat spendable at more than 150 million Visa-accepting merchant locations worldwide. The difference is not incremental. It is structural. When digital assets can move onto global card rails in near real time, they begin to function as usable money.
More users, higher standards
Global crypto ownership continues to climb. According to Crypto.com’s 2025 Global Crypto Market Sizing Report, the number of crypto owners reached 741 million worldwide by December 2025, marking a substantial increase in global participation. But raw growth in user numbers does not mean frictionless access into or out of cryptocurrency. Consumers increasingly expect real-time, intuitive payment experiences.
Traditional and fintech payment networks have invested heavily in instant settlement rails. McKinsey’s 2025 Global Payments Report highlights a payments industry handling trillions of transactions and generating $2.5 trillion in revenue, underscoring how mainstream finance operates at scale with speed and seamless UX as a baseline expectation. Web3 must also meet these standards or risk remaining disconnected from everyday financial life.
Stablecoins are now foundational to transaction volume
Stablecoins have grown into a structural part of the digital asset ecosystem. Andreessen Horowitz’s 2025 State of Crypto report estimates that stablecoins processed approximately $46 trillion in on-chain transaction volume in 2025. That scale reflects growing use beyond trading.
Stablecoins increasingly power remittances, cross-border payroll, treasury operations, and tokenized settlement flows. Yet on-chain transaction volume does not create real-world utility. Stablecoins become practical financial tools only when they can be converted into local fiat quickly and predictably. Without reliable off-ramps, even trillions in digital settlements remain operationally constrained.
Off-ramps are migrating to institutional rails
Over the past 12 months, off-ramping has shifted toward established financial infrastructure. Real-time payment platforms such as Visa Direct, which processes high-speed payouts to credit and debit cards in more than 190 markets, provide a low-touch means of converting digital tokens to fiat currency. This shift bridges the liquidity gap between digital and traditional finance.
When users or businesses can receive fiat via familiar payment paths in minutes rather than days, digital assets function as usable money. Faster access reduces operational delays and exposure to volatility, which is important for freelancers, cross-border businesses, and consumers alike.
On-ramps are becoming native to UX
If off-ramps determine how users exit crypto, on-ramps can help shape who enters. In the past year, major wallet providers and exchanges have deepened integrations with mainstream payment methods such as Apple Pay and Google Pay. These integrations enable one-tap onboarding experiences that mirror everyday mobile transactions, dramatically reducing friction compared to traditional bank transfers.
This trend matters because consumer expectations are now anchored in the world of mobile wallets and instant digital payments, as highlighted by industry reports such as the FIS Global Payments Report 2025, which shows digital wallets dominating e-commerce and point-of-sale value flows. When buying crypto feels like buying a coffee, adoption expands beyond early adopters into broader user bases.
Embedded crypto is accelerating
Beyond basic ramp UX, crypto capabilities are increasingly embedded within fintech and consumer platforms. Integrating crypto buying and selling directly into apps, from payment platforms to online marketplaces, requires a reliable payment ramp infrastructure that works globally and meets regulatory standards. This is similar to how embedded finance transformed lending, payments, and savings, where infrastructure became invisible, and the functionality worked seamlessly within the context users already understood. Web3 faces the same requirement.
Emerging markets show what’s at stake
Remittances remain one of the largest and most resilient financial flows globally. According to the World Bank’s latest available data, global remittance flows reached an estimated $905 billion in 2024, continuing a strong upward trend from 2023, with $656 billion flowing to low and middle-income countries. Yet the average cost of sending $200 remained above 6%, more than double the UN Sustainable Development Goal target of 3%.
Crypto payments, particularly when routed through stablecoins, offer a pathway to lower-cost, faster cross-border transfers. But without reliable fiat off-ramps, digital transfers remain trapped as on-chain balances rather than functioning as practical money in local economies. Efficient off-ramps connected to domestic banking systems or widely accepted card rails are essential if crypto is to fulfill its promise as a border-agnostic financial medium.
Infrastructure will define the next cycle
Narratives in web3 will continue to rotate, and markets will cycle between fear and greed. But at the end of the day, what determines adoption is payment infrastructure. When entering and exiting crypto feels as seamless as any mobile wallet transaction, digital assets shift from speculative holdings to functional tools. Liquidity flows more freely. Businesses integrate blockchain settlement into operational workflows. Consumers stop drawing lines between “crypto money” and “money.”
On and off-ramps may not always make the headlines, but they determine whether web3 remains parallel to global finance or embedded within it, opening up crypto services to hundreds of millions of users. The bridge between fiat and crypto is strengthening. The faster it disappears into the background, the faster web3 scales.
As crypto assets continue to expand from on-chain trading into everyday spending, payment products are becoming a core pillar of exchange ecosystems. Recently, one of the global leading digital asset trading platforms Gate officially launched the all-new Gate Card, introducing a high-cashback structure, a dual-track tier upgrade system, and elevated spending limits to further differentiate its offering in the crypto payments market.
One of the standout features of the new Gate Card is its cashback rate of up to 5%. Users earn rewards in multiple assets, including BTC, ETH, USDT, or GT, after each purchase. With a card fee of 1%, higher-tier users can fully offset costs and generate additional net returns, with monthly rewards capped at up to 250 USDT.
Unlike traditional payment cards that focus solely on convenience, this design transforms spending into a sustainable reward mechanism, making “spend-to-earn” a tangible reality.
The card’s tier system has also been upgraded with a dual-track progression model. Users can level up either by meeting spending thresholds or by qualifying through their VIP status, without the need to satisfy multiple overlapping conditions. Tier assessments are automated and take effect in the following month, offering a transparent and predictable growth path.
This structure effectively links trading activity with consumption behavior, enhancing retention among higher-tier users while providing a clear upgrade route for entry- and mid-level users.
In terms of benefits, Gate Card adopts a T0–T4 tiered framework, with each level corresponding to different cashback rates and monthly caps. Top-tier users can enjoy up to 5% cashback with a monthly limit of 250 USDT. The progressively increasing benefits strengthen long-term engagement and encourage users to continuously expand activity and asset holdings.
High spending limits further underscore the product’s focus on premium use cases. Gate Card supports single-transaction and daily limits of up to $500,000 and a monthly cap of $1,500,000, with no annual limits for VIP10-VIP14, making it suitable for cross-border payments, large purchases, and capital management. These elevated limits significantly enhance the card’s appeal to high-net-worth users and improve the real-world utility of crypto assets.
In addition, the global coverage has further expanded its application scenarios. Gate Card can be used in over 100 countries and regions, covering approximately 130 million merchants worldwide that accept Visa. It supports both online and offline payments as well as ATM withdrawals. Users can choose between virtual and physical cards, with additional support for Google Pay, enabling seamless mobile and multi-scenario payments.
Overall, the new Gate Card builds a closed-loop growth model centered on trading, spending, and tier progression. Higher tiers unlock greater rewards, which in turn stimulate increased spending and trading activity, reinforcing user engagement and asset retention.
As the crypto industry moves toward broader adoption and real-world integration, payment tools are emerging as a vital bridge between on-chain assets and the global economy. Through its combination of high cashback, generous limits, and structured growth incentives, Gate Card offers a compelling blueprint for crypto payments with stronger yield potential and ecosystem synergy.
Looking ahead, Gate plans to further integrate crypto payments into its broader platform ecosystem, expand global use cases, and accelerate the large-scale adoption of digital assets in everyday life, helping shape a more sustainable growth model for the industry.
About Gate
Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 50 million users with 4,400+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions.
For more information, please visit: Website | X | Telegram | LinkedIn| Instagram | YouTube
Disclaimer: This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Note that Gate may restrict or prohibit certain services in specific jurisdictions. For more information, please read the User Agreement via https://www.gate.com/user-agreement.
Crypto World
Coinbase leads crypto stocks higher after Trump signals support for digital asset market structure bill
Shares of Coinbase and other cryptocurrency companies surged Wednesday after President Donald Trump threw his weight behind the industry’s battle against U.S. banks over yield-bearing stablecoins — adding to momentum the firms were already feeling from bitcoin‘s bounce.
Coinbase was last up more than 12%. Other digital asset firms such as Strategy and Circle jumped 9% and nearly 6%, respectively. Meanwhile, shares of JPMorgan Chase and Bank of America fell less than 1%.
“The Genius Act is being threatened and undermined by the Banks, and that is unacceptable,” Trump said late Tuesday in his social media post. “They need to make a good deal with the Crypto Industry because that’s what’s in best interest of the American People.”
Greenlighting firms to issue dollar-pegged digital tokens that offer interest-like returns has been a sticking point of the Clarity Act, a market structure bill for the crypto industry, in the U.S. Congress.
Crypto companies also got a boost as cryptocurrencies staged a comeback. Bitcoin and ether advanced 5% and 6% on Wednesday, respectively.
Why is crypto up today? Crypto progenitor Bitcoin (BTC) just staged a massive V-shaped recovery, reclaiming $71,000 hours after global headlines screamed war.
The weekend dip to $63,000, triggered by intensifying conflict involving Israel, the U.S., and Iran, looked like the start of a risk-off collapse.
It wasn’t. Instead, the market absorbed the shock, flushed the leverage, and kept buying. While traditional markets panicked over blocked supply lines in the Strait of Hormuz, crypto participants saw a discount. That matters. It signals a shift in market resilience that bears did not account for.
Discover: Crypto’s best pre-launch token sales.
Bitcoin Price Action: Institutional Resilience Meets Geopolitical Risk
The drop was sharp, but the recovery was cleaner. When news of the escalation broke, leverage got flushed immediately.
On-chain analysis indicates supply exhaustion from sellers at the $63,000 mark. Exchange flows remained neutral to negative, suggesting coins were moving to cold storage rather than flooding order books. Regional data supports this. Iranian exchange outflows suggest local capital flight seeking safety in digital assets, while global desks treated the geopolitical risk as a liquidity event to fill bids.
Tagus Capital noted in a recent newsletter that Bitcoin is exhibiting “defensive characteristics” despite its high-beta reputation. Where gold retreated after a brief spike, Bitcoin stabilized and reversed. The smart money absorbed the selling pressure. No capitulation.
Bitcoin Price Prediction: $71,000 Reclaimed, Is $75,000 Next?
The chart is painting a clear invalidation of the bear case. Reclaiming $71,000 changes the market structure entirely. The $65,700 level has now flipped from previous resistance to a fortress of support. The V-shape recovery confirms demand at lower levels was stronger than the panic.
If Bitcoin holds above $70,500, the path to $74,000 opens up quickly. Clear that cleanly, and $75,000 is the next logical target. However, if the price loses $69,000, we likely re-test the weekend lows.
The current setup aligns with the VanEck macro bottom thesis, suggesting the $60,000-$63,000 zone was the final shakeout before the next leg up. Momentum indicators on the 4-hour chart have reset, giving bulls room to run.
Discover: The hottest new crypto around.
Market Resilience: Why Crypto Outperformed Gold and Oil
Traditional safe havens reacted predictably to the conflict. Oil jumped 7% on supply fears. Gold added 2%. Yet, Bitcoin’s 12% bounce from the $63,000 lows outpaced them both. This decouples Bitcoin from the “risk-on only” narrative.
While altcoins like Cardano and Dogecoin are lagging behind Bitcoin, the broader crypto price prediction landscape is turning bullish.
Billionaire Ray Dalio recently dismissed Bitcoin’s safe-haven status, yet the market ignored him. Bitcoin gained despite the war escalating. Institutional desks used the weekend gap, when traditional equity markets were closed, to bid on the asset that never sleeps.
The post Why is Crypto Up? Bitcoin Reclaims $71,000 as Market Shrugs Off Middle East Escalation appeared first on Cryptonews.
When airstrikes hit Iran on Feb. 28, crypto outflows from Nobitex spiked 873%, suggesting a “digital bank run” was ongoing. The reality may be more complex.
Aster price is forming a potential inverse head and shoulders pattern, signaling a possible trend reversal. A confirmed breakout above $0.79 could trigger a bullish rally toward the $1.06 resistance target.
Summary
- Inverse head and shoulders pattern forming
- $0.79 neckline key breakout level
- Breakout target projected near $1.06
Aster’s (ASTER) recent price action is beginning to show early signs of a structural reversal as a classic technical pattern emerges on the chart. After a prolonged corrective phase, the formation of an inverse head and shoulders pattern suggests that bullish momentum may be building beneath key resistance.
Aster price key technical points
- Bullish Reversal Pattern: Inverse head and shoulders formation developing
- Neckline Resistance: $0.79 acts as the key breakout level
- Technical Target: Breakout projects a move toward $1.06 resistance
Aster’s current price structure closely resembles a classic inverse head and shoulders pattern, one of the most widely recognized bullish reversal formations in technical analysis. The chart shows a clear left shoulder, followed by a deeper head, and a developing right shoulder, indicating that selling pressure may gradually be weakening.
The defining feature of this formation is the neckline resistance, which in this case sits near the $0.79 level. Historically, this region has acted as a strong barrier for price action. Previous attempts to break above this zone resulted in bearish reactions, highlighting the presence of significant supply at this level.
However, repeated tests of resistance often weaken selling pressure over time. Each time the market approaches the neckline, sellers must absorb additional buying demand. Eventually, this process can lead to a decisive breakout if buying pressure becomes strong enough to overwhelm supply.
For the inverse head and shoulders pattern to activate, Aster must break and close above the $0.79 neckline. Confirmation of the breakout would indicate that buyers have regained control of market structure, potentially triggering a new bullish expansion phase.
Once confirmed, the technical target for the pattern sits near $1.06. This projection is calculated by measuring the distance from the head to the neckline and extending that range above the breakout point. Interestingly, this level also aligns with the next high timeframe resistance zone, adding further technical significance to the target.
Volume will play a crucial role in determining whether the breakout can succeed. Bullish continuation patterns typically require a noticeable increase in trading volume to confirm that market participation is expanding. Without strong volume support, breakouts can often fail and revert back into consolidation.
At the moment, the pattern remains unconfirmed, as price is still trading slightly below the neckline resistance. Until the $0.79 level is reclaimed on a closing basis, the inverse head and shoulders formation remains a developing setup rather than an activated signal.
From a market structure perspective, this consolidation beneath resistance may actually strengthen the potential breakout scenario. Prolonged compression below key levels often builds liquidity, which can lead to sharp expansion once the market resolves directionally.
If the breakout occurs with strong momentum, the path toward $1.06 could open quickly as short sellers are forced to cover positions and buyers chase the move higher.
What to expect in the coming price action
Aster is approaching a critical technical inflection point at $0.79. A confirmed breakout above this neckline with strong volume would activate the inverse head and shoulders pattern and project a rally toward the $1.06 resistance zone.
However, failure to break this level could keep price consolidating below resistance until sufficient momentum builds for a decisive move.
A new Bitcoin death cross would ensure continuation of the bear market unless a “major bullish catalyst” appears, per new BTC price analysis.
Bitcoin (BTC) needs a “major bullish catalyst” to avoid canceling out its March rally, says the latest analysis.
Key points:
-
New findings warn that short-term BTC price strength does not remove the risk of the bear market continuing.
-
Bitcoin faces plenty of overhead resistance in the mid-$70,000 zone.
-
A “death cross” formed of two weekly trend lines is still on course to confirm this week.
BTC price caught between multiple trend lines
In an X update on Wednesday, Keith Alan, cofounder of trading resource Material Indicators, warned that BTC price weakness was still present beyond low time frames.
Bitcoin hit monthly highs of $73,019 at the day’s Wall Street open, continuing a rebound that accompanied renewed conflict in the Middle East.
While this quickly led to predictions of a bull market comeback and even new all-time highs, Alan was frank about the BTC price outlook.
“This is an important candle to watch on the $BTC chart,” he summarized.
“On the surface, we’re seeing a short squeeze. From a technical perspective, this D candle is attempting to validate R/S Flips at the 21-Day SMA, the 2021 Top at $69k, and a Timescape Level at $71.3k.”
Alan referred to various key levels near the spot price, including the 21-day simple moving average (SMA) at around $67,550, per data from TradingView.
Also on the radar were the 50-day SMA at $76,350, along with the 21-week and 100-day SMA trend lines at $88,000 and $87,300, respectively.
“If bulls can push price up from here I expect some friction around psychological resistance ~$75k, technical resistance at the $50-Day MA, and the next Timescape Level at $78.3k,” he continued.
“A support test, sooner than later, would be healthy, but I’m not sure that the market is going to make it that easy on us. However this develops, IMO, the longer it takes to grind up, the more durable the rally will likely be.”
Bitcoin death cross still due this weekly candle
As Cointelegraph reported, long-term price expectations for the current bear market favor a bottom at or below the $50,000 mark.
Related: ‘This is not World War III:’ Five things to know in Bitcoin this week
A return to BTC price downside, Alan warned, could come as soon as next week, thanks to a so-called “death cross” involving the 21-week and 100-week SMAs.
A death cross occurs when the former trend line crosses below the latter, implying weaker recent price action compared to the longer-term trend.
“The caveat to that is the simple fact that next week we will print a death cross between the 21 and 100 Week MAs, and that will likely be a precursor to the next leg down unless we get a major bullish catalyst,” he concluded.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Morgan Stanley (MS) has filed with the Securities and Exchange Commission (SEC) a prospectus outlining the structure of the proposed Morgan Stanley Bitcoin Trust, revealing that the fund plans to use Coinbase Custody (COIN) and the Bank of New York Mellon (BNY) to safeguard its bitcoin holdings, according to a form S‑1 submitted.
The two institutions will serve as the trust’s bitcoin custodians, responsible for storing the digital assets and facilitating transfers related to share creations and redemptions.
The filing outlines a custody structure designed to mirror traditional institutional standards. Bitcoin will largely be held in offline cold storage vaults, where private keys remain disconnected from the internet to reduce hacking risks. A portion of the assets may temporarily move to trading wallets during ETF creation or redemption activity. The trust notes that custody insurance exists but is shared across customers and may not cover all potential losses.
BNY will also play several additional roles within the ETF structure. The bank will serve as the fund administrator, transfer agent, and cash custodian, handling accounting, shareholder records, and cash flows tied to ETF transactions.
The ETF itself will be structured as a passive vehicle designed to track the price of bitcoin by holding the cryptocurrency directly rather than using derivatives or leverage.
The filing also states that the trust will calculate its net asset value using the CoinDesk Bitcoin Benchmark 4PM New York Settlement Rate, which aggregates trade data from major spot exchanges to determine the daily reference price for bitcoin.
Crypto World
Morgan Stanley (MS) Stock: Landmark Bitcoin Trust Partners with Coinbase and BNY Mellon
TLDR
- Morgan Stanley submits revised spot Bitcoin ETF filing
- Coinbase Custody selected to safeguard Bitcoin assets
- BNY Mellon assigned administrative and cash custody duties
- Trust valuation tied to CoinDesk 4PM NY Bitcoin benchmark
- MS stock gains ground amid crypto expansion efforts
Morgan Stanley (MS) has pushed forward with its digital currency ambitions by submitting an updated registration document for its Bitcoin Trust. The financial institution has designated Coinbase Custody Trust Company and BNY Mellon for critical custody and operational functions. MS stock registered at $168.78, climbing 1.71% during robust trading activity.
Bitcoin Trust Architecture and Asset Security
The investment giant has designed its proposed trust as a passive spot Bitcoin exchange-traded product. This fund will maintain direct Bitcoin ownership without employing derivatives or borrowed capital. Accordingly, shares will mirror the market value of the underlying Bitcoin reserves.
Coinbase Custody Trust Company has been selected to protect the digital currency holdings through institutional-grade custody solutions. The majority of Bitcoin will remain in offline cold-storage facilities to minimize cybersecurity threats. Small amounts may be moved to hot wallets exclusively during share creation and redemption processes.
BNY Mellon has been appointed to manage administration, transfer agency services, and cash custody operations for the trust. Its responsibilities encompass financial reporting, shareholder record maintenance, and liquidity management activities. Consequently, this operational framework matches conventional ETF industry protocols.
Valuation System and Risk Management
The trust’s net asset value will be determined through the CoinDesk Bitcoin Benchmark 4 PM New York Settlement Rate. This benchmark aggregates trading information from leading spot cryptocurrency platforms. The ETF will employ a publicly available daily pricing standard.
Regulatory disclosures indicate that custody insurance coverage exists but extends across numerous clients. Nevertheless, such insurance may not fully compensate for every conceivable loss scenario. This language mirrors standard disclosure practices among existing spot Bitcoin ETF providers.
Authorized market participants will deliver cash in exchange for Bitcoin when creating new shares. They may also convert shares back into underlying Bitcoin during the redemption mechanism. This structure enables the fund to preserve liquidity within established regulatory guidelines.
Broader Digital Currency Ambitions
Morgan Stanley originally submitted its Bitcoin Trust application in January. The institution simultaneously filed documentation for a separate Solana exchange-traded fund. These parallel initiatives demonstrate the bank’s comprehensive digital asset strategy.
The financial services company has additionally pursued a national trust bank charter. Regulatory authorization would enable Morgan Stanley to directly custody cryptocurrencies on behalf of institutional clientele. This capability would position the firm alongside specialized crypto custody providers.
Senior management has outlined intentions to broaden cryptocurrency accessibility throughout its brokerage operations, notably E*Trade. The retail-focused E*Trade platform functions under Morgan Stanley’s corporate umbrella. With roughly $8 trillion in assets under management, the institution seeks to consolidate custody solutions, trading capabilities, and supervisory functions within a unified infrastructure.
Crypto World
Market infrastructure firms warn tokenized securities face higher costs, split liquidity without interoperability
The world’s largest market infrastructure operators are warning that tokenized securities will struggle to scale unless the industry agrees on how blockchains and traditional finance systems connect.
In a joint white paper, the Depository Trust and Clearing Corporation (DTCC), Euroclear and Clearstream, working with Boston Consulting Group, argued that “interoperability is a prerequisite for digital asset security (DAS) adoption at scale.” Without it, they wrote, assets risk being trapped on isolated networks, leaving “operational costs high” and liquidity fragmented as trading volumes grow.
The group stopped short of endorsing any single technology. Instead, it framed the problem as structural. Dozens of public and permissioned blockchains now host pilots and live products. Each uses its own standards, smart contract logic and settlement design. That diversity, the paper says, makes integration harder and increases operational and regulatory risk.
The authors rejected the idea that one dominant ledger will emerge. The operating model, they said, is shifting toward a “network-of-networks, with standards, gateways, and regulated service providers” linking digital and traditional systems. In that environment, assets must move across platforms while preserving what the paper calls “the asset’s integrity, ownership rights and lifecycle, with full legal and regulatory compliance.”
They summarized the goal in a short phrase: “same asset, same rights, same outcome.”
The warning comes as tokenization gains ground in repo markets and pilot programs across the U.S. and Europe. While onchain securities remain small compared with global equity and FX markets, the paper notes that large-scale infrastructure is already in motion, including more than $300 billion in daily repo activity across major platforms.
Still, many workflows depend on legacy rails. Tokenized bonds may trade on-chain, but cash often settles through real-time gross settlement systems or bank payment networks. Custodians and central securities depositories still maintain books of record. The paper assumes this coexistence will last for years.
The framework also extends beyond technical bridges. Interoperability, the authors argued, must cover assets and liabilities, ownership recognition, lifecycle events, ledger finality and legal enforceability. Without alignment across those layers, cross-chain or cross-border transactions may require extra reconciliation steps that erode promised efficiency gains.
The group called on regulators and market participants to develop working groups focused on governance, standards and resilience. “Collective action today will shape resilient markets tomorrow,” the paper states.
That push comes as major Wall Street firms argue tokenization could reshape financial markets by enabling 24/7 trading, faster settlement and more efficient use of collateral. Executives at large banks and asset managers have said blockchain-based rails may eventually reduce back-office costs and free up capital tied up in multi-day settlement cycles. Some have described tokenized assets as a path toward more integrated global markets, where cash and securities move in near real time.
The paper does not dispute that vision. Instead, it suggests that achieving it depends less on launching new chains and more on aligning the rules that govern them.
Binance founder Changpeng Zhao has endorsed Predict.fun’s strategic acquisition of Probable.
Summary
- Predict.fun has announced a strategic acquisition of on-chain prediction platform Probable.
- Probable was incubated by PancakeSwap and YZi Labs before the deal.
- The combined platform aims to improve prediction market architecture, execution efficiency, and capital utilization.
Binance founder Zhao Changpeng has publicly welcomed a tie-up in the BNB (BNB) Chain prediction market segment, after Predict.fun said it would acquire on-chain platform Probable in a strategic deal. In a social media post commenting on the announcement, Zhao congratulated both teams and said he was pleased to see “two strong projects joining forces,” framing the move as a positive consolidation of liquidity and talent. Probable, which had been incubated by PancakeSwap and YZi Labs, will now be integrated into the Predict.fun stack, bringing its experience in market design and on-chain execution under a single brand. For users, the merger is expected to reduce fragmentation across similar products on BNB Chain, while giving Predict.fun access to a broader base of traders and liquidity providers.
Congrats! Good to see two strong project combing forces. https://t.co/lHDwTZ8oiu
— CZ 🔶 BNB (@cz_binance) March 4, 2026
According to the projects, the acquisition will be used to accelerate upgrades to Predict.fun’s market architecture, including how odds are quoted, orders are matched, and capital is reused across multiple markets. Prediction protocols typically rely on careful incentive design and risk controls to ensure that liquidity is deep enough for larger trades, without exposing liquidity providers to outsized drawdowns when events move quickly. By combining Probable’s technology with its own roadmap, Predict.fun aims to roll out more efficient routing of orders, better collateral management, and potentially new types of markets around crypto, macro, and sports. The move comes as on-chain prediction platforms see renewed attention from traders looking for transparent alternatives to centralized sites and from DeFi users seeking new yield sources.
Consolidation in on-chain prediction markets
Zhao’s endorsement highlights a broader consolidation trend among on-chain prediction projects as they compete for users in a crowded DeFi landscape. Smaller, standalone platforms often struggle with thin liquidity and high user-acquisition costs, making mergers and strategic acquisitions an attractive way to scale more quickly. By pooling technology and order flow, projects like Predict.fun and Probable can offer tighter spreads and higher maximum trade sizes, which are critical for attracting professional bettors and market makers. In turn, healthier liquidity can make markets more informative, giving participants better-implied probabilities around elections, macro events, and crypto-specific outcomes.
The deal also lands at a time when regulators are paying closer attention to prediction markets, including in the U.S., where agencies such as the CFTC are reviewing new rules and proposals. Projects operating on large networks must factor in how evolving frameworks like MiCA and existing securities and derivatives rules might apply to certain markets or payout structures. For Predict.fun, building a more robust, capital-efficient architecture could help it adapt to changing policy conditions while remaining competitive with centralized and off-chain venues. With high-profile figures like Zhao signaling support, the combined platform is positioning itself as a leading prediction hub on BNB Chain, betting that better execution and deeper liquidity will draw in the next wave of on-chain forecasters and liquidity providers.
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