Better, a mortgage lender focused on originations for homebuyers, has teamed up with Framework Ventures to secure as much as $500 million in financing through the Sky stablecoin ecosystem. The move binds traditional home lending to a blockchain-backed liquidity network, signaling a deeper push to bring real-world assets into decentralized finance infrastructure. In the collaboration, Better will operate as a designated capital recipient within Sky, effectively earning the label of a “Star.” The announcement, made on a Tuesday, frames a new pathway for channeling conventional mortgage activity into DeFi rails while maintaining underwriting and origination control on the lender’s side. The arrangement is a notable instance of tokenization concepts extending beyond assets like real estate into the funding layer that supports liquidity in the crypto ecosystem.

Key takeaways

• The Better Framework Ventures deal ties mortgage origination to Sky’s blockchain-based capital framework, with funding funneled into Better’s loan production.
• Better will assume the role of a designated capital recipient, referred to as a “Star,” within Sky’s ecosystem, while continuing to underwrite and originate loans.
• Funded capital in Sky is issued as stablecoins backed by crypto-native collateral, enabling a real-world asset (RWA) tokenization approach at the funding level rather than tokenizing the mortgage notes themselves.
• Officials view the arrangement as a potential external funding source beyond traditional capital markets, though the intersection of regulated mortgage practices with blockchain systems remains nascent and carefully watched.
• The move arrives amid broader regulatory and industry conversations about digital assets in housing finance, including recent steps by U.S. regulators to explore asset recognition in loan applications.
• Long-term implications could include scalable origination and potential pressure on consumer mortgage costs, depending on how the new funding channel performs and how risk is managed within the Sky framework.

Market context: The partnership sits at the crossroads of tokenization trends and real-world asset finance, reflecting a growing interest in linking regulated lending activity with on-chain liquidity. It coincides with regulatory signals and industry dialogue around digital assets in housing finance, as policymakers and lenders weigh how crypto rails can complement traditional funding. In the United States, government-backed conforming mortgages represent a vast segment—well over $12 trillion in outstanding volume—with loan limits for single-family homes rising to $832,750 in 2026 in many counties, underscoring the scale at which such collaborations could matter if proven effective.

Why it matters

The Better–Framework collaboration illustrates a practical blueprint for tokenizing funding rather than the underlying loan assets themselves. By directing capital raised within Sky to sponsor Better’s origination pipeline, lenders may gain access to alternative liquidity pools that can supplement, or in favorable scenarios supplant, traditional debt markets. The model preserves standard underwriting controls for Better, while leveraging a DeFi-enabled backstop that expands the pool of potential capital for mortgage production.

The use of stablecoins anchored to a crypto-collateral framework to back a capital stack for real-world lending marks a notable evolution in how tokenized finance can interface with regulated industries. This approach could, in theory, unlock faster liquidity cycles for lenders and introduce new risk-management tools that are native to blockchain ecosystems. Yet it also raises questions about custody, compliance, and governance—areas where established mortgage practices intersect with emergent DeFi standards. The parties frame the arrangement as a responsible deployment of tokenized capital to support real-world assets at institutional scale, suggesting a cautious but forward-looking stance toward broader adoption.

Industry observers note the timing as significant, coming as lenders increasingly probe crypto-enabled capabilities for asset originations, risk assessment, and funding diversification. While the mortgages themselves are not being issued on-chain, the funding layer is increasingly exposed to blockchain rails. In this sense, the deal represents a form of real-world asset tokenization (RWA) at scale within a regulated lending context, a hybrid that could influence both funding costs and the pace at which mortgage products are brought to market through blockchain-enabled channels.

Vance Spencer, co-founder of Framework Ventures, emphasized the potential impact of the capital infusion: “With this capital injection, we think Better will be able to rapidly scale origination and potentially lower mortgage rates for consumers in the long term.” The quote underscores the thesis that expanded liquidity could translate into more favorable terms for borrowers, though the actual outcome will depend on how efficiently Sky’s collateralized framework can translate crypto funding into stable, regulated lending activity.

What to watch next

• Rollout milestones: Track the pace at which Better scales its origination volumes under Sky’s framework and whether new regions or loan products are added to the program.
• Regulatory signaling: Monitor any regulatory clarifications or guidelines that touch on digital assets in mortgage underwriting and how they interact with traditional lenders’ risk frameworks.
• Liquidity dynamics: Observe how Sky’s stablecoin liquidity performs during market stress and whether the capital stack remains attractive to other lenders or asset origins.
• Transparency and governance: Look for details on Sky’s governance structure, collateral management, and reporting suitable for risk-averse institutions participating in RWAs.

Sources & verification

Tokenized funding for mortgage origination

The Better–Framework Ventures pact marks a deliberate step toward integrating traditional mortgage activity with a blockchain-backed capital network. Sky’s architecture provides a framework where crypto-native collateral underpins stablecoins that feed liquidity into real-world loan origination. In practice, this does not imply that mortgage notes are minted or traded on-chain; instead, it leverages tokenized funding to enhance the liquidity that supports Better’s mortgage pipeline. If the model proves resilient, lenders could gain more flexible access to capital, potentially widening the pool of participants and compressing the time required to secure funding for new loans.

Better’s leadership frames the collaboration as a pragmatic approach to scale origination while maintaining compliance and risk controls. The “Star” designation signals a recognized position within Sky’s system, signaling to other market participants that Better’s underwriting remains the primary mechanism for loan evaluation and approval. For Framework Ventures, the arrangement showcases how early-stage crypto-native institutions can partner with regulated lenders to deploy substantial capital in a controlled, auditable manner. The collaboration underscores a broader trend of bridging the gap between DeFi liquidity and real-world loan markets, a fusion that remains in its formative stages but has potential to reshape funding dynamics if it proves scalable and compliant.

Regulatory context remains a critical tailwind and a potential risk factor. The sector has seen regulators explore how digital assets can fit into the housing-finance ecosystem, with actions aimed at clarifying asset recognition in loan applications and delineating the boundaries between traditional lending and tokenized capital. The convergence of these threads—ROA-backed liquidity, DeFi rails, and prudent oversight—will likely determine whether the Sky–Better model becomes a durable path for mortgage financing or a prototype that informs future experiments in tokenized lending. In the near term, observers will be watching for data on execution quality, default rates, and the overall cost of capital that Better can achieve through this new funding channel.

• Decred price rose to $28 as bulls defied Bitcoin’s bearish slide that engulfed most altcoins.
• Short-term bullish targets include $40 and $69, while losses could extend to $17 or lower.
• Analysts are pointing to supply metrics as key.

Decred (DCR) bulls are digging in as price hovers above the critical $25 support level, having jumped to intraday highs of $28 on February 24, 2026.

The uptick saw DCR defy the broader crypto market outlook that saw Bitcoin plunge to under $63,000 during the Asian trading hours.

This resilience coincides with a decrease in daily volume and aligns with a sharp decline in the coin’s liquid supply.

While intraday gains could disappear amid profit-taking, can upward pressure allow the hybrid proof-of-work/proof-of-stake cryptocurrency to retest $40?

DCR supply dynamics

As Bitcoin remains under pressure, Decred has continued to trade in positive territory, with buyers targeting a sixth consecutive daily advance.

On-chain data suggests the rebound from lows near $22 on February 19 has been supported by staking activity, which has reduced the token’s effective circulating supply.

More than 16.2 million DCR coins have been mined, but around 27% of the circulating supply is currently liquid.

The remainder is locked, indicating a shrinking available supply that may be supporting recent price strength.

Built a thing: https://t.co/bGAet0YTTA – how tight is DCR’s liquid supply actually? >72% locked, only ~27% available to market, and shrinking

Work in progress

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Thanks to @jz_bz & @exitusdcr for initial feedback & help! pic.twitter.com/Pie0xeRMLq

— Tivra (@WasPraxis) February 21, 2026

The significant reduction in exchange balances translates to reduced sell pressure, a trend that reflects holder confidence despite volatility.

Staking rewards incentivise retention over liquidation, and as Decred’s scarcity narrative strengthens, prices could follow.

Decred price outlook

Currently, the daily chart shows the DCR price steady, with buyers up 14% and 53% in the past week and month, respectively.

The altcoin’s technical picture thus hints at bullish control.

Alongside the ascending triangle pattern breakout, bulls are looking at the rising RSI that hovers at 67 and suggests room for more gains before overbought conditions prevail.

Meanwhile, the daily MACD shows a bullish crossover, and the histogram is expanding the green bars.

DCR price is also above the 50-day simple moving average and 200-day moving average, with the chart outlining a recent bullish crossover.

If volume picks up amid further gains, the near-term targets could be an initial tick up to $30.

A potential relief rally fueled by macro tailwinds could send prices to $40 and allow for upside action toward 2025 highs of $69.

But as downside risks linger, a dip below $25 could bring support levels around the 50 and 200-day MAs into play.

• Monero price hovered above $327 and was up nearly 4% as Bitcoin bounced above $63,700.
• XMR faces fresh downward risks if bearish sentiment continues.
• The privacy coin could retest support at $265 or lower.

Monero (XMR) traded around $327 as intensifying downward pressure threatened a bearish flip for the privacy coin alongside most top altcoins in the market.

While the token ranked among the top intraday gainers during US trading hours on Tuesday, its uptick in the past 24 hours was just 4%. Selling pressure has recently capped gains around $340-$360.

XMR price today

Losses to the psychological support level of $300 could allow sellers to threaten fresh downside momentum.

A sharp correction as Bitcoin and alts face declines would wipe out all gains Monero price has seen since rebounding from below $265 in October 2025.

The altcoin is already well off the all-time highs reached in January 2026.

Notably, bulls continue to bleed as the privacy narrative that pushed Monero to that peak on Jan. 14 has since cooled.

Sector giants Zcash and Dash have also shed most of their recent gains.

According to data from CoinMarketCap, XMR is down 59% from its peak.

This means that struggling bulls might have a tough time defending immediate support levels, starting with $300.

Regulatory headwinds remain an issue for XMR and other privacy coins.

The token is not accessible on some exchanges, while jurisdictions such as the UAE have blacklisted these coins.

However, the downturn in altcoins, as with BTC, comes amid miner outflows and profit-taking bets post-privacy coins rally.

Headwinds around macroeconomic conditions have also exacerbated the declines.

Monero price technical analysis

Analysts note that cryptocurrencies could flip lower if BTC plummets to $50k.

For now, bulls retain some say amid range-bound trading. But the overall picture alludes to weak participation as institutional demand cools.

Sell pressure might not ease unless the market sees a significant rebound in spot, derivatives, and exchange-traded fund markets.

Monero’s price outlook could mirror these broader ecosystem movements.

XMR has traded lower since hitting its ATH on Jan 14 this year. An initial rebound faded near $625 on Jan. 19, and prices have broken lower since.

On Feb. 5, XMR fell 23% to $290, and another uptick collapsed around $357 in mid-February.

With MACD below zero and RSI at 39, the overriding sentiment is a bearish one.

There’s a bearish flag pattern formation on the daily chart, with $302 as support.

If sellers breach this demand reload zone, a cascade of negative momentum could accelerate declines to October 2025 lows and then the $250-$230 lows.

The total crypto market cap dropped $1.3 trillion since January. That is a lot of money to leave. But here is what the headlines leave out. It is also exactly the amount that came back with interest after every previous crypto reset. After the 2022 bottom, over $2 trillion re entered the market in eighteen months. After COVID, the recovery was even faster. Crypto does not die during drawdowns. It compresses like a spring. And the tighter it compresses, the harder it snaps back.

Short term Bitcoin whales are holding roughly $26 billion in unrealized losses according to CryptoQuant. That peaked at $32 billion on February 6. Those are large holders who bought recently and are underwater. But large holder losses during crypto drawdowns have preceded every single major rally in Bitcoin’s history. The whales who held through 2022 losses of similar magnitude watched their positions multiply three to five times within two years.

What matters now is where the recovery capital goes first. And every data point from every cycle gives the same answer. Meme coins recover the fastest and the hardest.

Meme Coins Are the Spring Loaded Sector of Every Crypto Recovery

After the 2018 crash, DOGE led with a 20,000 percent run to its 2021 peak. After FTX, PEPE launched and hit $7 billion inside a year. After every Solana scare, BONK recovered faster than SOL itself. Meme coins are the highest beta crypto sector. When confidence returns, speculative capital floods the assets with the widest upside windows first. The $45 billion meme sector is large enough to attract institutional attention but nimble enough for individual projects to deliver triple digit multiples.

The difference in 2026 is that a meme coin is finally being built with actual trading infrastructure. That changes the entire equation for what the best meme coin to buy actually looks like. Because now the question is not just which token has the best meme. It is which crypto project has structural demand coded into its products.

Pepeto: The First Meme Native Crypto Trading Infrastructure

Every meme coin trade happens on platforms not built for meme coins. Uniswap was for DeFi. PancakeSwap was for BNB farming. The $45 billion meme economy uses tools designed for a different market. Pepeto fills that gap with purpose built infrastructure.

Three demos live today. PepetoSwap is a dedicated cross chain meme coin swap. The bridge connects tokens across blockchains. The zero fee exchange routes every crypto transaction through $PEPETO at the protocol level. Built by one of the original Pepe coin founders. SolidProof and Coinsult dual audits. Zero tax. Over $7.2 million raised at $0.000000185. Insider chatter says a major exchange listing is being finalized, weeks away per development updates.

SHIB peaked at $40 billion with zero products. PEPE hit $7 billion with zero products. Pepeto at presale has three live demos, dual audits, and protocol level demand. 100x needs just $50 million cap. One eight hundredth of SHIB. Staking at 212 percent APY adds $14,980 yearly on a $7,000 position. But staking is the bonus. The entry at six zeros with working crypto products before the meme sector snapback is the play.

How to Buy Pepeto: Step by Step Guide

Step 1. Create your wallet. Get MetaMask for desktop or Best Wallet for mobile. If you already have a crypto wallet that supports Ethereum, move to step 2.

Step 2. Load your wallet with crypto. Add ETH, USDT, or BNB. Card payment is available directly on the site if you prefer.

Step 3. Buy and stake $PEPETO. Head to pepeto.io, connect your wallet, select your payment method, choose the amount of $PEPETO you want, then hit Buy or Buy and Stake for maximum gains.

Important Safety Warning: Scammers have launched fake tokens using the Pepeto name and logo on multiple blockchains. None of these are affiliated with the real project. The only official Pepeto presale is at pepeto.io. Always verify the URL in your browser before connecting your wallet or sending any crypto.

FAQs

What is the best meme coin to buy in 2026?

Pepeto is the first meme coin with dedicated crypto trading infrastructure including a swap, bridge, and exchange. At $0.000000185 with dual audits and a Pepe cofounder, 100x requires just $50 million market cap.

Do meme coins recover after crypto crashes?

Yes. Meme coins historically recover faster than any other crypto sector. DOGE, SHIB, PEPE, and BONK all delivered their biggest returns after periods of extreme market fear. The pattern has repeated in every cycle since 2017.

How do I buy Pepeto tokens safely?

Use MetaMask on desktop or Best Wallet on mobile. Fund with ETH, USDT, or BNB. Visit only pepeto.io to connect your wallet and purchase. Beware of fake Pepeto tokens on other sites.

What gives Pepeto an edge over other meme coins?

Three working demos, protocol level demand, dual audits from SolidProof and Coinsult, and an original Pepe cofounder. No other meme coin combines live crypto infrastructure with this level of verification.

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Editor’s note: In today’s crypto landscape, partnerships between regulated banking infrastructure and DeFi platforms signal a pivotal step toward mainstream adoption. The Jupiter Noah collaboration merges trusted settlement rails with a leading Solana-based platform, enabling neobank-like features that bridge crypto and fiat for millions of users. This editorial note offers context for the release, outlining why the integration matters and how it could impact everyday finance, payroll, remittance, and treasuries. The content that follows preserves the core press release details while highlighting the potential real-world benefits of connecting digital assets to the traditional economy.

Key points

• Neobank features integrated into Jupiter Global via Noah’s regulated banking infrastructure.
• USD and EUR virtual accounts enable earning, holding and spending globally with seamless fiat-crypto settlement.
• Instant on-chain earnings pushes to local bank accounts and compliant, cross-border transfers.
• Currency expansion begins with SGD and MYR, with plans for AED, IDR, JPY, THB and more.

Why this matters

By embedding Noah’s regulated settlement infrastructure into Jupiter Global, a traditional finance rails are aligned with on-chain activity, creating practical use cases like salaries, payroll, remittance and cross-border payments. This partnership aims to end the two-tier finance model by offering reliable off-ramps and real-world spending power for crypto holders, ultimately accelerating mainstream adoption and global financial inclusion.

What to watch next

• Currency expansion: SGD and MYR launch, with plans for AED, IDR, JPY, THB and more.
• Wider adoption as salaries and payroll use cases roll out for global workers and employers.
• Further integration milestones with Jupiter’s 50M+ wallets and the Solana ecosystem.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Jupiter and Noah partner to bring neobank features to Jupiter Global, making crypto feel like banking, and banking feel like crypto for 50+ million users

London, February 24th, 2026 – Noah, the global payments infrastructure provider, and Jupiter, the DeFi Superapp, have partnered to connect decentralised finance and the traditional banking ecosystem, reshaping how millions of people globally access and use money.

As the global leader in on-chain finance, Jupiter powers 90% of trading volume on Solana — the world’s second-largest blockchain by TVL (DefiLlama).

By integrating Noah’s regulated banking infrastructure directly into this ecosystem, the platform can now operate as a neobank. Jupiter Global users, via USD and EUR virtual accounts, can earn, hold and spend globally, moving between crypto and fiat seamlessly and instantly. This unlocks a wave of new use cases across payroll, remittance, and institutional treasury; transforming Jupiter from a trading platform into a global settlement layer and sovereign financial hub.

To put it in real-world terms, the integration means a developer in Thailand can now offer services internationally, a trader in Singapore can now off-ramp Solana profits directly to their local bank account, a worker living abroad can now make sure their family receives more of their financial support without large sums being lost to fees, plus many more examples.

Through the partnership, users can now:

• Receive salaries, payments and international transfers into virtual USD and EUR accounts that settle directly as stablecoins without delays or high fees
• Push on-chain earnings instantly to local bank accounts in key markets, helping them unlock even more real-world value from the digital assets
• Benefit from Noah’s institutional-grade compliance

With these features, and with Noah effectively bringing neobank capabilities to Jupiter’s 50 million+ wallets, the partnership addresses the so-called “last-mile problem” that has long held crypto back from mainstream adoption.

“For too long, the crypto economy and the real economy have operated as isolated ecosystems. We are building the bridge,” said Shah Ramezani, Founder and CEO of Noah. “By plugging regulated settlement infrastructure directly into Jupiter, we are turning a trading wallet into a comprehensive financial tool. This isn’t just about moving money; it’s about giving millions of users a direct line to the real economy, allowing them to convert on-chain wealth into real-world spending power instantly, without friction.”

Sovereign financial hub

For Noah, the partnership provides distribution at scale and further establishes it as the go-to infrastructure provider for yet another major financial platform. Its banking licences already allow it to serve 60+ countries and currencies.

Ethereum price recently failed to sustain a breakout above $2,100, forcing the altcoin into a consolidation phase. The rejection reinforced resistance and shifted short-term momentum lower. External developments fueled expectations of recovery, but limited investor participation muted their impact.

ETH has since slipped back into a structured range. Broader crypto market conditions remain fragile, amd the current structure reflects hesitation rather than renewed confidence.

BitMine Maintains Its Alchemy of 5%

On February 23, BitMine announced it had acquired an additional 51,162 ETH over the week, worth more than $93 million. The purchase represented one of the larger institutional Ethereum buys in recent weeks. However, the announcement failed to generate sustained upward price movement.

Instead of triggering accumulation, long-term holders resumed distribution. On-chain data suggests some investors likely used the headline as liquidity to reduce exposure. This reaction highlights that the Ethereum price remains more sensitive to broader market cues than individual corporate acquisitions.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Ethereum Holders Are Struggling

Ethereum’s HODL waves provide insight into investor behavior. Short-term holders have matured into mid-term holders, with the 3- to 6-month supply rising by 5% over the past week. This shift indicates investors are waiting rather than exiting positions.

Underwater holders appear reluctant to realize losses. Their decision to hold supports price stability. However, this same caution may be limiting fresh buying activity. Investors are prioritizing recovery confirmation before committing additional capital to ETH.

ETH Price Could Slide Further

Ethereum is trading at $1,824 at the time of writing after losing the $1,928 support level. The Parabolic SAR indicator now sits above the candlesticks, signaling a confirmed short-term downtrend. This technical setup suggests sellers currently control momentum.

The next major support for ETH stands at $1,750. A decisive break below that level could expose the cryptocurrency to further downside toward $1,595. Weak macro conditions and persistent outflows may amplify volatility if support fails to hold.

The CBD heatmap identifies a significant demand zone between $1,880 and $1,900. Ethereum slipped below this range during the recent decline. If buyers from this zone opt to sell to limit losses, downside pressure could accelerate across spot and derivatives markets.

Conversely, resilience among holders could shift momentum. A rebound toward $1,928 would signal improving structure. Reclaiming that level as support may open ETH’s path toward $2,108. A sustained breakout above that resistance would invalidate the current bearish thesis and restore bullish momentum.

Terraform Labs and its bankruptcy administrator have accused trading firm Jane Street of using insider information to front-run transactions and make a profit from the platform’s $40 billion crash.

Todd Snyder, the court-appointed administrator winding down Terraform Labs, reportedly filed the lawsuit against Jane Street, its co-founder Robert Granieri, and its two employees, Bryce Pratt and Michael Huang, in a Manhattan federal court on Monday.

The heavily redacted filing claims that Pratt, a former Terraform intern, was tasked with reestablishing communication with old Terraform employees. 

He set up a group chat called “Bryce’s secret” with various Terrform employees and higher-ups, where he learned insider information and relayed it back to Jane Street, the suit says.

One discussion about an investment in Terraform Labs was allegedly used to make profitable trades based on material nonpublic information. According to the suit, one such trade involved Terraform Labs privately withdrawing 150 million TerraUSD from liquidity pool Curve3pool in May 2022.

A wallet linked to Jane Street withdrew 85 million TerraUSD from the same liquidity pool 10 minutes later, the suit notes.

Key takeaways

• Intercontinental Exchange (ICE)’s blockchain-based initiative is about upgrading market infrastructure, not adopting cryptocurrencies. It intends to use blockchain for improving settlement, reconciliation and collateral efficiency.

• Onchain delivery-vs.-payment settlement could significantly reduce counterparty risk and free up capital tied up in margins. It also shifts risk toward real-time liquidity needs and continuous funding requirements.

• While 24/7 trading may expand global access, it does not necessarily solve deeper market-structure issues. It could introduce liquidity fragmentation, wider spreads and noisier price discovery during low-volume periods.

• Stablecoins in this model act as institutional settlement rails rather than speculative assets. Their use inside regulated markets will require bank-grade custody, liquidity and compliance safeguards.

When Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced it was developing a blockchain-based platform for tokenized securities, some observers interpreted it as traditional finance fully integrating crypto.

However, the initiative is just a strategic redesign of market infrastructure. The focus is on utilizing distributed ledgers to optimize collateral management and eliminate delays in legacy settlement systems.

ICE has indicated that the platform would enable 24/7 trading, incorporate onchain settlement elements, support stablecoin-based funding and feature tokenized versions of regulated securities, subject to regulatory approval. If rolled out at scale, this would represent one of the most significant efforts by a major exchange operator to weave blockchain technology into market operations.

This article explores how the NYSE is integrating blockchain to segregate execution from settlement, why onchain settlement becomes critical, the importance of 24/7 trading and stablecoins as institutional funding rails. It discusses how tokenization is becoming a part of mainstream finance, hurdles in the integration of blockchain technology with legacy systems and issues regarding adaptation.

How the NYSE is using blockchain technology to separate execution from settlement

The platform maintains a clear separation between trading and settlement. ICE plans to continue using the existing NYSE Pillar matching engine, which already manages high-volume equity trading, as the primary trading layer. Blockchain technology would primarily enhance post-trade processes, such as settlement, record-keeping and reconciliation.

This distinction is important, as inefficiencies in financial markets generally stem not from price discovery during trading but from delays and complexities in clearing, settlement, cross-party reconciliation and collateral handling.

Tokenized securities refer to regulated assets like stocks or exchange-traded funds (ETFs) whose ownership is recorded on a blockchain for greater efficiency. The underlying legal rights continue to be governed by existing securities laws and corporate regulations.

Why onchain settlement likely matters more than 24/7 trading

Even with faster settlement cycles in US equities, most trades still depend on multiple intermediaries, such as clearinghouses, custodians and agents, that reconcile records across parties. This creates layers of operational complexity and lingering counterparty risk during the settlement window.

Onchain settlement changes this fundamentally by enabling near-simultaneous transfer of ownership and payment on a shared, immutable ledger. This process, also called delivery-vs.-payment (DvP), sharply reduces counterparty exposure and minimizes reconciliation errors. DvP could free up capital tied up in margins or buffers for more productive uses. It tackles the core inefficiencies and risks in post-trade infrastructure.

Faster settlement, however, is not without trade-offs. It eliminates the time buffers that currently allow markets to resolve errors, unwind failed trades or handle liquidity squeezes. Risk simply shifts toward real-time liquidity demands, requiring participants to fund positions continuously rather than leaning on intraday credit. From a broader view, this redistributes rather than removes systemic risk.

What 24/7 trading may (and may not) achieve

Continuous trading appeals to global investors familiar with round-the-clock crypto or futures markets. For US equities, extended hours already exist, but they typically feature lower liquidity, wider spreads and higher volatility compared with core sessions.

Fully 24/7 markets could offer better access for international participants and potentially smoother reactions to off-hour news. Yet several concerns remain:

• Liquidity could thin out during quieter periods, forcing market makers to widen quotes or increase trading costs.

• Overnight or low-volume trading might amplify price swings, particularly around major global events.

• Price discovery could stay concentrated in traditional hours, with off-hours reflecting noisier or less representative signals rather than true efficiency gains.

Whether continuous trading truly enhances market quality or just spreads activity more thinly across time zones is still an open question.

Onchain settlement addresses deeper structural frictions in how trades are finalized, reducing risk and unlocking efficiency, while 24/7 trading mainly extends availability without necessarily fixing those underlying issues.

Did you know? Some stock exchanges already use microsecond-level timestamp synchronization from atomic clocks to track trade sequences. This means blockchain systems must integrate with ultra-precise time standards to avoid disputes over transaction ordering.

Stablecoins as institutional funding rails, not speculative plays

A key element in ICE’s proposal is the use of stablecoins to handle the cash side of trades. This would let funds settle 24/7, aligning with any move toward continuous securities trading and bypassing traditional bank-hour limitations. The process results in quicker, lower-friction movement of cash across borders and between counterparties.

If stablecoins are embedded in regulated market infrastructure, they are certain to face stringent compliance requirements. These include real-time compliance monitoring, high-grade custody arrangements, robust liquidity buffers and other safeguards on par with traditional settlement banks.

Stablecoins function strictly as wholesale settlement tools for institutions, not as retail payment or speculative instruments.

Tokenization steadily moving into mainstream finance

The NYSE-related efforts are part of a broader trend. Major asset managers, banks and market infrastructure providers are actively piloting or seeking approval to tokenize conventional assets. These include US Treasury bills, money market fund shares, ETF units and similar instruments.

Regulatory filings demonstrate that tokenization is expanding into areas traditionally seen as conservative and infrastructure-heavy. The objective is operational efficiency rather than innovation for its own sake. Advantages include accelerated settlement, programmable conditions, reduced manual reconciliation and potentially wider participation.

If tokenized versions of multiple asset classes become commonplace, post-trade processes could converge toward shared, interoperable ledger architectures. This would reduce overlap and duplication across today’s fragmented ecosystem of clearinghouses, custodians, transfer agents and registrars. However, to facilitate such an outcome, institutions and regulators need to align on standards, interoperability and risk controls.

Did you know? In traditional markets, a single stock trade can trigger a string of back-office messages between brokers, custodians and clearing agents, which is a key reason financial firms spend billions annually on post-trade IT systems.

Custody, records and legal ownership still the hardest hurdles

The biggest barrier to tokenized markets isn’t the blockchain technology itself. There is legal ambiguity regarding ownership. Traditional finance relies on clear, well-established rules for beneficial ownership, shareholder rights, voting, dividends and who maintains the definitive record.

In a tokenized world, regulators will need to decide what counts as the authoritative source of truth, whether it is the onchain ledger, the transfer agent’s registry, the broker-dealer’s books or some hybrid. Each choice affects investor protections, how corporate actions are handled, how disputes are resolved and who bears liability.

Custody adds another layer of difficulty. Even in permissioned, institutional-grade blockchains, managing private keys or equivalent controls requires robust answers on asset segregation, key recovery in case of loss, bankruptcy remoteness and operational continuity. These issues demand new frameworks that match or exceed existing standards.

These legal and operational questions are likely to slow adoption more than any technical limitations.

Clearinghouses and the shift to real-time risk management

ICE has also indicated interest in bringing tokenized deposits or similar mechanisms into clearinghouse operations. It has suggested integrating blockchain-based settlement tools with clearing infrastructure.

Clearinghouses have a role to play in neutralizing counterparty risk. Shorter or near-instant settlement windows can shrink exposure periods and lower overall risk. However, they also result in less time to detect and respond to defaults, collateral deficiencies or sudden liquidity stress.

This pushes clearing participants and operators toward continuous position monitoring, automated intraday margin calls, dynamic collateral valuation and well-tested playbooks for outages, cyber events or technology failures.

From a regulatory perspective, resilience in always-on, 24/7 environments becomes critical. Traditional markets have scheduled downtime. Continuous systems cannot afford unplanned interruptions without risking cascading outages.

Did you know? The NYSE once shortened its trading day during World War I and even shut down completely for four months in 1914. This shows that market “hours” have always evolved with technology, geopolitics and infrastructure limits.

Who stands to gain and who might need to adapt

If onchain market infrastructure demonstrates reliability and receives regulatory approval, several participants could see meaningful advantages:

• Global investors who want uninterrupted access to trading and settlement

• Institutions that could unlock more efficient use of collateral and reduce trapped capital

• Issuers interested in streamlined distribution channels and potentially broader reach.

On the flip side, intermediaries whose revenues rely heavily on today’s multi-step settlement workflows may face strong pressure to evolve or risk losing relevance. These include clearing agents, custodians and certain reconciliation services. Compliance teams would also shift from periodic, market-hours reporting to continuous oversight, adding complexity in the short term.

Whether these operational savings translate into lower costs for retail and institutional end investors depends on the level of efficiency passed through by exchanges, clearinghouses and other infrastructure providers.

A modernization effort, not a leap into crypto

The NYSE’s work on blockchain-based systems is an attempt to upgrade core financial infrastructure, including faster settlement, better collateral mobility and improved market access. In this case, blockchain serves as a technology layer for post-trade operations, not as an asset class. Success hinges on meeting the stringent requirements of regulated markets, including proven scalability, high operational resilience, full compliance alignment and broad institutional buy-in.

The success of this endeavor by the NYSE depends on several parameters, such as regulatory approvals, operational reliability and institutional willingness to migrate. The initiative signals that traditional exchanges are no longer treating tokenization as an experimental side project. Instead, they are evaluating whether blockchain-based systems can support the scale, stability and compliance demands of mainstream financial markets. This is a much higher bar than most crypto-native platforms have faced.

It may be “crypto winter,” but it’s a “stablecoin summer” as digital dollar adoption booms, payments giant Stripe said Tuesday in its annual letter.

Bridge, the stablecoin orchestration platform Stripe acquired in 2024, saw transaction volume more than quadruple last year, according to the letter.

The firm also said it will “soon” launch the mainnet of Tempo, the payments-focused blockchain it is developing with crypto firm Paradigm and started testing in December.

Stripe has increasingly focused on bringing crypto technology to its payment network, seeing stablecoins as an alternative for cross-border transfers and programmable payments. Stablecoins are a $300 billion class of cryptocurrencies tied to fiat money like the U.S. dollar that use blockchains for faster, cheaper settlement.

Their utility has led to stablecoins decoupling from crypto market cycles, the payment firm wrote. While bitcoin fell 50% from its October peak, and lost 6% over 2025, stablecoin payment volume doubled to about $400 billion, with around 60% resulting from business-to-business transactions, it said, citing a recent report by McKinsey and Artemis.

“Stablecoin payments are advancing quietly and inexorably as real-world uptake continues apace,” the firm wrote in the letter.

Highlighting the rising stablecoin demand, Meta (META), the parent company of Facebook, Instagram and Whatsapp plans to launch its own stablecoin later this year with an outside partner, CoinDesk reported on Tuesday.

Stripe said businesses processed $1.9 trillion on its platform last year, up 34% from 2024. The company also announced a tender offer valuing it at $159 billion.

Read more: Stripe’s stablecoin firm Bridge wins initial approval of national bank trust charter