The U.S. Commodity Futures Trading Commission (CFTC), led by Acting Chair Caroline Pham, announced a new initiative to allow stablecoins and other tokenized assets to be used as collateral in derivatives markets. This move aligns stablecoins with traditional collateral like cash or U.S.
Pham emphasized,
“Tokenized markets are the future, and collateral management is the killer app for stablecoins.”
The initiative builds on the CFTC’s Crypto CEO Forum and the President’s Working Group on Digital Asset Markets recommendations.
Feedback on the proposal is open until October 20, 2025.
SEC Drafts “Innovation Exemption” for Crypto Products
SEC Chair Paul Atkins revealed plans for an “innovation exemption” to streamline approvals for digital asset products by year-end.
Atkins said the exemption would provide crypto firms temporary relief from outdated securities rules, enabling faster product launches under lighter oversight while tailored regulations are developed.
This follows the SEC’s recent approval of the first multi-asset crypto exchange-traded product (ETP), launched Friday, offering exposure to Bitcoin, Ether, XRP, Solana, and Cardano.
The ETP benefited from new generic listing standards under Rule 6c-11, which shorten ETF approval timelines.
Atkins noted these standards provide a “stable platform” for market innovation.
Fnality Raises $136M to Expand Blockchain Payment Network
Blockchain payment firm Fnality secured $136 million in a Series C funding round led by major financial players, including Bank of America, Citi, KBC Group, Temasek, Tradeweb, and WisdomTree.
It has returning investors like Goldman Sachs, Santander, Barclays, and UBS.
Fnality’s blockchain-based settlement system, already live in the UK with its sterling-denominated Fnality Payment System, enables 24/7 payments, real-time settlement, and improved liquidity tied to central bank reserves.
The fresh capital will fuel expansion into U.S. Dollar and Euro markets, pending regulatory approval.
