SBI Holdings pivots away from crypto custody to focus on emerging tech funds amidst Japan’s regulatory challenges

Digital1422 words7 min readabout 6 hours ago

SBI Holdings divests from its UK-based crypto custody joint venture and launches a new global tech fund targeting Web3, AI, and emerging sectors, signalling a strategic shift in response to Japan’s tight regulatory environment.

SBI Holdings is shifting its focus in the digital and tech space, notably by ending its joint venture with Zodia Custody, a UK-based digital asset custodian, and at the same time rolling out a new global equity fund that targets innovative sectors like Web3, AI, and other emerging technologies. This dual move seems to underline a deliberate strategy — kind of a pivot to bigger, scalable tech investments — while also navigating Japan’s tough regulatory landscape.

The partnership between SBI and Zodia Custody, which is backed by Standard Chartered and based in London, was mutually ended after roughly two years. Zodia had been preparing to apply for registration with Japan’s Financial Services Agency (FSA), but ultimately never submitted the formal application. Both sides said that different priorities led to the decision. Importantly, this doesn’t appear to be a sign that they’re pulling back from digital assets or the Asian markets entirely. Kosuke Kitamura, an SBI spokesperson, explained that the goal behind dissolving the partnership is really to speed up the company’s broader digital initiatives, not a withdrawal. Meanwhile, Zodia Custody is still pushing ahead with international expansion, including a recent acquisition in the UAE.

Japan’s regulatory environment for foreign crypto firms remains pretty challenging. There’s been a series of high-profile incidents, like the DMM Bitcoin incident in 2024, which reportedly caused losses north of $2.04 billion, not to mention earlier shocks such as the Mt. Gox collapse. These events have led to tighter oversight and more hurdles for foreign companies trying to operate there, which definitely influences SBI and Zodia to be cautious.

Meanwhile, SBI Asset Management announced it will launch a new fund called the SBI Next-Generation Technology Strategy Fund, set to start on September 17. This fund will invest in global stocks focused on sectors like Web3, blockchain, decentralized finance, AI, quantum computing, and nuclear fusion energy. At first, the portfolio will target these themes, but it’s designed to adapt over time as new technologies and market conditions evolve. The fund will be available through SBI Securities, with an annual trust fee of 0.99%. That’s pretty competitive in the realm of actively managed tech funds in Japan. The goal here is to get a diversified exposure and, ideally, achieve medium- to long-term growth by tapping into industries that could reshape global markets.

All in all, SBI’s move to exit the crypto custody joint venture while launching a forward-looking tech fund really signals a strategic shift. It reflects a wider trend among Japanese finance firms, which are trying to juggle the risks tied to directly holding crypto—things like regulatory hurdles and security worries—with opportunities in cutting-edge tech that uses blockchain, Web3, and related innovations. This approach, kind of measured and cautious, shows SBI’s effort to reallocate capital toward diversified tech investments that better align with current market realities and regulatory demands.

Sources & references:

- Paragraph 1 – [1], [4]
- Paragraph 2 – [1], [2], [3], [4], [5], [6], [7]
- Paragraph 3 – [1], [4], [5]
- Paragraph 4 – [1], [4]
- Paragraph 5 – [1], [4], [5]

Source: Noah Wire Services

Verification / Sources

https://beincrypto.com/sbi-ends-joint-venture-with-zodia-custody/ - Please view link - unable to able to access data
https://www.panewslab.com/en/articles/2dc6de7c-09d8-47da-9ff8-456c3a8e79cb - Zodia Custody, a digital asset storage firm backed by Standard Chartered Bank, has dissolved its joint venture with Japan's SBI Holdings Inc. after two years. The decision was mutual, with both parties citing differing priorities. Zodia Custody had been preparing to apply for registration with Japan's Financial Services Agency but had not yet submitted an application. SBI Holdings emphasized that this move does not signify a retreat from its custody business or Asian strategy but is a proactive decision to accelerate synergies within its digital ecosystem.
https://news.bloomberglaw.com/business-and-practice/stanchart-backed-crypto-custodian-ends-japan-venture-with-sbi - Standard Chartered-backed digital asset storage firm Zodia Custody has ended its Japanese joint venture with SBI Holdings Inc. after two years. The dissolution was a mutual decision, with both parties acknowledging differing priorities. Zodia Custody had been in discussions with Japan's Financial Services Agency regarding local registration but had not proceeded with an application. SBI Holdings stated that the dissolution does not indicate a withdrawal from digital asset services or Asia but aims to accelerate group-wide digital strategies.
https://www.cryptotimes.io/2025/09/11/zodia-custody-ends-japan-venture-with-sbi-holdings/ - Zodia Custody, a digital asset storage firm backed by Standard Chartered Plc, has terminated its joint venture with SBI Holdings Inc. in Japan, just two years after its inception. The decision stems from a mutual reassessment of priorities. Zodia Custody had been preparing to seek registration with Japan's Financial Services Agency but opted to halt the process before submission. Japan's crypto market has proven challenging for foreign firms due to its stringent regulatory environment.
https://www.fastbull.com/news-detail/zodia-custody-ends-japan-venture-with-sbi-in-news_6300_0_2025_3_10328_3 - Zodia Custody, the digital asset custody firm backed by Standard Chartered, has dissolved its joint venture with Japan’s SBI Holdings two years after launching the initiative. The venture, known as SBI Zodia Custody, was 51% owned by SBI and 49% by Zodia Custody. According to its website, the project aimed to replicate institutional-grade custodial services in the digital asset space. Both firms cited differing priorities as the reason for the dissolution.
https://www.qklw.com/lives/20250911/822222.html - Zodia Custody, a digital asset storage company backed by Standard Chartered Bank, has reconsidered its joint venture with SBI Holdings Inc. in Japan, two years after its launch. Zodia Custody CEO Julian Sawyer stated, 'This was a strategic consensus reached between SBI and us and a mutual decision. We each have other priorities, and they have other priorities as well.' The company had been preparing for an application to the Japanese Financial Services Agency but had not yet moved forward.
https://www.mexc.com/it-IT/news/zodia-custody-ends-japan-venture-with-sbi-in-mutual-decision-report/93117 - Standard Chartered-backed Zodia Custody has exited its Japan venture with SBI Holdings after two years, with both firms calling the move a strategic realignment. The venture, known as SBI Zodia Custody, was 51% owned by SBI and 49% by Zodia Custody. According to its website, the project aimed to replicate institutional-grade custodial services in the digital asset space. Both parties cited differing priorities as the reason for the dissolution.

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 10

Notes: The narrative is current, with the earliest known publication date being September 11, 2025. No evidence of recycled or republished content was found. The report appears to be based on a recent press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were identified. The content is original and has not appeared elsewhere in the past seven days. The inclusion of updated data alongside older material does not affect the freshness score.

Quotes check

Score: 10

Notes: The direct quotes from Julian Sawyer and Kosuke Kitamura are unique to this report, with no earlier usage found. This suggests the content is potentially original or exclusive.

Source reliability

Score: 8

Notes: The narrative originates from BeInCrypto, a cryptocurrency-focused news outlet. While it is not as widely recognised as major news organisations, it is known within the crypto community. The report cites Bloomberg as a source, which adds credibility. However, the reliance on a single outlet for the primary information introduces some uncertainty.

Plausability check

Score: 9

Notes: The claims about the dissolution of the joint venture and the launch of the new fund are plausible and align with known industry trends. The narrative lacks supporting detail from other reputable outlets, which slightly reduces the score. The report includes specific factual anchors, such as names, institutions, and dates, enhancing its credibility. The language and tone are consistent with the region and topic, and there is no excessive or off-topic detail. The tone is formal and appropriate for corporate communication.

Overall assessment

Veredict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary: The narrative is fresh, original, and plausible, with no significant issues identified. The primary source is a cryptocurrency-focused news outlet, which introduces some uncertainty due to its lower recognition compared to major news organisations. However, the content is consistent with known industry trends and includes specific factual details, supporting its credibility.

Article Insights

Keywords

crypto custodyemerging tech fundsregulatory challengesdigital assetsstrategic shift

Main Themes

crypto custody
emerging tech funds
regulatory challenges
digital assets
strategic shift

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Kosuke Kitamura,Julian Sawyer

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Lagos launches a ₦214.8 billion bond to accelerate sustainable urban growth

ESG2061 words10 min read38 minutes ago

Lagos State Governor Babajide Sanwo-Olu unveils a ₦214.8 billion bond programme, including Nigeria’s first Green Bond, to fund major infrastructure projects and foster sustainable city growth amid investor confidence and legislative backing.Lagos State Governor Babajide Sanwo-Olu has announced a new bond issuance plan worth ₦214.8 billion, aimed at fast-tracking key infrastructure projects throughout the state. He emphasized the importance of encouraging private sector investors to deepen their partnerships with the government in this effort. The programme features a first-time ₦14.8 billion Green Bond and a ₦200 billion conventional bond — both vital components of Lagos’ broader ₦1 trillion Debt and Hybrid Instruments Issuance Programme, which is designed to support urban growth and promote sustainability. At an investor forum held in Lagos, Governor Sanwo-Olu pointed out the state’s solid financial reputation, noting a proven record of successfully delivering major infrastructure initiatives when funded adequately. “There are huge opportunities for sustainable growth here in Lagos,” he explained. “With extra funding, we can accomplish so much more. Sure, inflation and rising costs will be hurdles, but every naira invested now sets us up for a better tomorrow,” he added. He also highlighted the ongoing stability in governance, mentioning how successive administrations have built upon prior achievements to maintain confidence and stability that investors value. Lagos’ Finance Commissioner, Abayomi Oluyomi, took the stage to highlight the careful fiscal management the state has maintained since it first entered the bond market way back in 1987. He reaffirmed Lagos’s reputation for responsible use of bond proceeds and being transparent in debt management. Interestingly enough, he pointed out that Lagos has never missed a bond payment. Oluyomi also revealed that the ₦14.8 billion Green Bond, which has a certification from the Climate Bond Initiative — a first by any Nigerian sub-national entity — will directly finance climate-related projects in sectors such as health, environment, housing, innovation, agriculture, and transport. Meanwhile, the ₦200 billion traditional bond with a ten-year maturity is intended to support 24 sizable projects, including transportation, waterfront development, healthcare, housing, and agriculture — all with the explicit goal of improving residents’ quality of life. Supporting this initiative, Femi Saheed, who chairs the Lagos State House of Assembly Committee on Finance, pledged full legislative backing. He reassured stakeholders that the legislative body would ensure transparency and tight oversight during project execution; this is all about building trust and transparency, right? Such oversight is meant to keep investor confidence high, making sure funds are well-utilized. This bond effort comes on the heels of Lagos State’s recent success in capital markets, where earlier this year they raised about ₦137.3 billion in bonds to fund vital projects like the 10-kilometer Regional Road in Eti Osa, the six-lane Lekki-Epe Expressway, and various road rehabilitation efforts across Alimosho and Ikorodu. Governor Sanwo-Olu keeps stressing that infrastructure isn’t just about roads; it’s about raising living standards and boosting economic activity throughout the state. The 2025 government budget, meanwhile, allocates after over ₦1 trillion for major infrastructure initiatives, including road construction and repair, expanding transport terminals, developing rail mass transit, and urban housing schemes under the IBILE program which covers many Lagos neighborhoods. Other big plans include building bridges, jetties, sports stadiums, and continuing work on the Lagos Rail Mass Transit System. All these projects reflect a comprehensive plan to turn Lagos into a resilient and thriving city — it’s pretty interesting, right? When you pull it all together, these developments firmly position Lagos as a key player in leveraging capital markets to fund urban development. There’s a real focus on blending sustainability with growth, aiming not just at quick wins but also at creating a lasting legacy for Nigeria’s biggest city. I find it surprising that Lagos continues to push these ambitious projects, but hey — it’s all part of a broader vision for winning urban resilience and long-term prosperity. References: - Paragraph 1 – [1] , [2] - Paragraph 2 – [1] , [2] - Paragraph 3 – [1] , [3] - Paragraph 4 – [1] , [2] - Paragraph 5 – [4] , [5] - Paragraph 6 – [6] Source: Noah Wire ServicesVerification / Sources https://pmnewsnigeria.com/2025/09/12/lagos-rolls-out-%E2%82%A6214-8bn-bond-to-fund-24-major-infrastructure-projects/ - Please view link - unable to able to access data https://pmnewsnigeria.com/2025/09/12/lagos-rolls-out-%E2%82%A6214-8bn-bond-to-fund-24-major-infrastructure-projects/ - Lagos State Governor Babajide Sanwo-Olu has announced a ₦214.8 billion bond issuance plan to fund critical infrastructure projects. The plan includes a ₦14.8 billion Green Bond and a ₦200 billion conventional bond, both part of the state's ₦1 trillion Debt and Hybrid Instruments Issuance Programme. Governor Sanwo-Olu emphasised Lagos State's financial credibility and its capacity to deliver large-scale infrastructure projects when adequately supported. He highlighted the state's tradition of governance continuity, noting that successive administrations have built on past successes to ensure stability and investor confidence. Finance Commissioner Abayomi Oluyomi highlighted Lagos' track record of fiscal responsibility since it first entered the bond market in 1987, affirming the state's reputation for prudent debt management and judicious use of bond proceeds. The Chairman of the Lagos State House of Assembly Committee on Finance, Femi Saheed, pledged the legislature's full support for the initiative, assuring investors that the Assembly would monitor project execution to ensure transparency and accountability. The ₦14.8 billion Green Bond, with a five-year tenure, will finance climate-focused projects aligned with global Sustainable Development Goals (SDGs). The ₦200 billion conventional bond, with a 10-year tenure, will fund 24 major projects across transportation, waterfront development, healthcare, housing, and agriculture, all designed to improve the quality of life for Lagos residents. https://independent.ng/lagos-govt-begins-issuance-of-%E2%82%A614-815bn-green-bond/ - The Lagos State government has commenced the issuance of a ₦14.815 billion Green Bond, receiving certification from the Climate Bond Initiative—the first by a Nigerian sub-national entity. Finance Commissioner Abayomi Oluyomi disclosed this during the 2025 Ministerial Press Briefing, noting that the bond proceeds will fund sectors such as health, environment, housing, innovation, science and technology, agriculture, and transportation. Oluyomi confirmed that the Lagos State government has never defaulted on its obligations to bondholders, ensuring transparency in bond management. The government has also mandated quarterly bond-sinking fund reports by trustees, ensuring transparency in bond management, and has appointed parties to the proposed ₦200 billion bond issuance for infrastructure across health, environment, housing, and more. (independent.ng) https://www.babajidesanwoolu.com/news-and-events/view/lagos-raises-n1373-billion-capital-market-bond-to-address-infrastructure-deficit - Lagos State has raised ₦137.3 billion through a capital market bond to address infrastructure deficits. Governor Babajide Sanwo-Olu presided over the signing ceremony, marking the third issuance under the state's ₦500 billion Debt Issuance Programme. The funds will finance key infrastructure projects in healthcare, environment, and road construction, including the 10-km Regional Road in Eti Osa, six-lane Lekki-Epe Expressway, Ijeododo Road in Alimosho, and Oba Sekumade Road in Ikorodu. Sanwo-Olu stated that the projects aim to improve the quality of life for residents and create a more enabling environment for commercial and economic activities. (babajidesanwoolu.com) https://guardian.ng/news/sanwo-olu-signs-n137-3b-bond-to-address-infrastructure-deficit/ - Governor Babajide Sanwo-Olu has signed a ₦137.3 billion bond to address Lagos State's infrastructure deficit. The bond will finance key infrastructure projects, primarily in roads and healthcare, including the Lekki Regional Road, rehabilitation of Ijeododo Road, and rebuilding of the alternative route to Admiralty Circle Toll Plaza. Sanwo-Olu commended the Federal Ministry of Finance, PENCOM, Debt Management Office, and SEC for their support and collaboration. The governor also commissioned a network of nine roads with a bridge within Soluyi community in Kosofe Local Council, consisting of Aderemi Akeju Street with deck-on-pile bridge, Okun Street, Femi Kufo Street, Brown Street, Adegbenro Street, Ganiyat Dawodu Street, Yetunde Brown Street, Anipole Street, and Sosanya Street. He stated that the execution of these projects demonstrates the administration's commitment to completing inherited projects that directly benefit the people. (guardian.ng) https://starconnectmedia.com/2025/02/sanwo-olu-we-earmarked-n1-052-trillion-for-infrastructural-development-in-lagos/ - Governor Babajide Sanwo-Olu has earmarked ₦1.052 trillion for infrastructural development in Lagos State. The 2025 budget includes projects such as the construction of Samuel Ekundayo/Toga Road in Badagry, Abaranje Road in Alimosho, and Adamo-Akanun-Agunfoye Lugbusi Roads in Ikorodu. The budget also covers the rehabilitation and upgrading of the Lekki-Epe Expressway: Phase IIA (18.600km), completion of the Abule Egba and Ajah Bus terminals, construction of the Iyana-Ipaja Bus terminals, and construction of the Opebi Link Bridge to Maryland. Other projects include the construction of the Lagos-Badagry Expressway, dualisation of Ojo Road and Baale Adeyemi in Ojo, construction of the Lekki/Epe(Orisa) Bridge and approach road, and construction of the second phase of the Lagos Rail Mass Transit System (LRMT) from Mile 2 to Okokomaiko. The budget also allocates funds for the development of the 68km Green Line rail from Marina to the Lekki Free Trade Zone, completion of 13 new jetties across Lagos State, and the completion of stadia in various locations to facilitate youth development and community sports. The state will also begin the construction of the NYSC Camp Permanent Site at Epe and make provision for housing units across IBILE (Ikorodu, Badagry, Ikeja, Lagos Island, and Epe) to transform lives and build a resilient and thriving state. (starconnectmedia.com) Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 8 Notes: The narrative presents a new bond issuance plan by Lagos State Governor Babajide Sanwo-Olu, announced on 12 September 2025. This is the first known publication of this specific announcement. However, similar bond issuance plans have been reported in the past, such as the ₦137.3 billion bond raised in December 2021 (guardian.ng) and the ₦134.8 billion bond raised in May 2023 (punchng.com). The current report includes updated figures and details, indicating a higher freshness score. Nonetheless, the presence of similar narratives in the past raises questions about the originality of the content. The report appears to be based on a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were identified. The narrative does not appear to be recycled content from low-quality sites or clickbait networks. No earlier versions with different figures, dates, or quotes were found. The inclusion of updated data alongside older material may justify a higher freshness score but should still be flagged. Quotes check Score: 9 Notes: The direct quotes attributed to Governor Babajide Sanwo-Olu and Finance Commissioner Abayomi Oluyomi in the narrative do not appear in earlier material, suggesting they are original or exclusive content. No identical quotes were found in previous publications. The wording of the quotes matches the reported statements, with no variations identified. Source reliability Score: 7 Notes: The narrative originates from P.M. News Nigeria, a news outlet with a public presence. However, the outlet's reputation and credibility are not well-established, which introduces some uncertainty regarding the reliability of the information. The report does not mention any unverifiable entities or individuals. Plausability check Score: 8 Notes: The claims made in the narrative align with previous reports on Lagos State's bond issuances, such as the ₦137.3 billion bond raised in December 2021 (guardian.ng) and the ₦134.8 billion bond raised in May 2023 (punchng.com). The reported figures and plans are consistent with the state's ongoing infrastructure development initiatives. The language and tone are consistent with official communications from the Lagos State Government. No excessive or off-topic details unrelated to the claim were identified. The tone is formal and appropriate for a government announcement. Overall assessment Veredict (FAIL, OPEN, PASS): OPEN Confidence (LOW, MEDIUM, HIGH): MEDIUM Summary: The narrative presents a new bond issuance plan by Lagos State Governor Babajide Sanwo-Olu, announced on 12 September 2025. While the content includes updated figures and details, similar bond issuance plans have been reported in the past, raising questions about the originality of the content. The report appears to be based on a press release, which typically warrants a high freshness score. The direct quotes attributed to Governor Sanwo-Olu and Finance Commissioner Abayomi Oluyomi do not appear in earlier material, suggesting they are original or exclusive content. The narrative originates from P.M. News Nigeria, a news outlet with a public presence, but its credibility is not well-established, introducing some uncertainty regarding the reliability of the information. The claims made in the narrative align with previous reports on Lagos State's bond issuances, and the language and tone are consistent with official communications from the Lagos State Government. Given the presence of similar narratives in the past and the outlet's credibility, the overall assessment is 'OPEN' with a medium confidence level.

WisdomTree launches tokenized private credit fund on Ethereum and Stellar to boost access and liquidity

Digital1206 words6 min readabout 1 hour ago

WisdomTree introduces CRDT, a new digital fund that tokenises private credit investments across Ethereum and Stellar, signalling a significant shift in alternative finance accessibility and efficiency.WisdomTree has recently launched the Private Credit and Alternative Income Digital Fund (CRDT), marking a significant development in the tokenization of alternative investments. Introduced on September 12, this fund operates on both Ethereum and Stellar blockchains and is accessible through WisdomTree’s Prime and Connect platforms. Its primary aim is to broaden access to private credit—a market valued at over $1 trillion globally—which offers companies flexible, non-bank financing options outside traditional bond markets. Private credit has become one of the fastest-growing segments of worldwide finance. It provides tailored lending solutions, differing from conventional bank loans or public bond issuance. By tokenizing private credit, WisdomTree seeks to accelerate settlement processes, enhance transparency, and give investors ongoing market access. The fund tracks the Gapstow Private Credit and Alternative Income Index (GLACI), which is equally weighted across 35 closed-end funds, business development companies, and real estate investment trusts. Investors can participate in CRDT with a minimum of $25, enjoy instant subscription execution (T+0), and have redemptions processed within two days (T+2). This structure aims to streamline liquidity and simplify the investment process. The broader industry reflects a growing trend of asset managers adopting blockchain technology to digitize traditional financial instruments. For example, BlackRock launched its USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum, which has now expanded to the Solana network, and has surpassed $500 million in market value. Similarly, Franklin Templeton’s OnChain U.S. Government Money Fund (FOBXX), utilizing Stellar and Polygon blockchains, has exceeded $270 million in assets under management. These initiatives demonstrate increasing investor appetite for digital assets tied to traditional securities, offering enhanced transparency and settlement efficiency. Current estimates from RWA.xyz indicate that the total value of tokenized assets on blockchain is approaching $76 billion, with private credit being the dominant driver—comprising over half of that total. Leading this segment, Figure on the Provenance blockchain holds approximately $17 billion worth of tokenized assets. WisdomTree’s CRDT fund exemplifies how blending blockchain technology with alternative finance can unlock investment opportunities that were once predominantly accessible to large institutions. According to available information, there are no confirmed plans for the fund to expand beyond Ethereum and Stellar blockchains. Overall, WisdomTree’s CRDT fund illustrates the convergence of traditional finance and blockchain innovation, providing increased liquidity and transparency in private credit investments. This development signifies a noteworthy shift in how investors can access, trade, and manage alternative assets within digital structures. Such advancements have the potential to fundamentally reshape investment strategies in the future. References: - Paragraph 1 – Bitcoin Insider, Crypto Times, CryptoSlate - Paragraph 2 – Bitcoin Insider, PANewsLab, Bitcoin Insider - Paragraph 3 – Bitcoin Insider, Franklin Resources Press Release, Cointelegraph - Paragraph 4 – Bitcoin Insider, Bitcoin Insider Source: Noah Wire ServicesVerification / Sources https://www.bitcoininsider.org/article/286432/wisdomtree-pushes-private-credit-chain-tokenized-digital-fund - Please view link - unable to able to access data https://www.panewslab.com/en/articles/860ed0c4-89a6-4add-b893-88bdc6f1e75c - WisdomTree has launched its first tokenized fund, the Private Credit and Alternative Income Digital Fund (CRDT), providing investors with exposure to private credit investments. The fund tracks an equally weighted index of 35 closed-end funds, business development companies, and real estate investment trusts. It has a minimum investment of $25 and is redeemable within two days. CRDT is tokenized on the Ethereum and Stellar blockchains, with plans to expand to other blockchains in the future. https://cryptoslate.com/wisdomtree-tokenizes-private-credit-through-new-crdt-fund-on-ethereum-and-stellar-blockchains/ - WisdomTree has unveiled a tokenized investment vehicle, the Private Credit and Alternative Income Digital Fund (CRDT), bringing private credit directly onto blockchain rails. The fund launched on Ethereum and Stellar blockchains and is available to investors through WisdomTree’s Prime and Connect platforms. CRDT tracks the Gapstow Private Credit and Alternative Income Index (GLACI), offering daily liquidity and transparency, effectively connecting traditional finance with blockchain technology. https://www.cryptotimes.io/2025/09/12/wisdomtree-rolls-out-tokenized-private-credit-fund-on-ethereum-stellar/ - WisdomTree, a leading global financial innovator, launched its new digital fund, the WisdomTree Private Credit and Alternative Income Digital Fund (CRDT), on September 12. The fund provides access to private credit investments through a tokenised structure, targeting both retail and institutional investors. Investors can access the fund through the WisdomTree Prime and WisdomTree Connect platforms. CRDT is designed to track the Gapstow Private Credit and Alternative Income Index (GLACI), offering daily liquidity and transparency. https://www.bitcoininsider.org/article/286432/wisdomtree-pushes-private-credit-chain-tokenized-digital-fund - WisdomTree has recently launched the Private Credit and Alternative Income Digital Fund (CRDT), taking a significant step in expanding access to alternative investments. This fund, unveiled on September 12, operates on both Ethereum and Stellar blockchains. As announced, it is available to investors through WisdomTree’s Prime and Connect platforms. The performance of CRDT tracks the Gapstow Private Credit and Alternative Income Index (GLACI). Investors can invest in this fund with as little as $25. https://news.franklinresources.com/news-center/press-releases/press-release-details/2023/Franklin-Templeton-Announces-the-Franklin-OnChain-U.S.-Government-Money-Fund-Surpasses-270-Million-in-Assets-Under-Management/ - Franklin Templeton announced that the Franklin OnChain U.S. Government Money Fund (FOBXX) has surpassed $270 million in assets under management as of March 31, 2023. The fund is the first U.S.-registered fund to use a public blockchain to process transactions and record share ownership, utilizing the Stellar blockchain network. It offers a competitive yield and aims to maintain a stable $1.00 share price, investing at least 99.5% of its total assets in government securities, cash, and repurchase agreements. https://cointelegraph.com/news/blackrock-tokenized-treasury-fund-buidl-reaches-500-million - BlackRock's USD Institutional Digital Liquidity Fund, known as BUIDL, has reached a market capitalization of $500 million, making it the first tokenized treasury fund to achieve this milestone. Launched less than four months ago, BUIDL holds $502.8 million worth of tokenized Treasurys. The fund surpassed Franklin Templeton's OnChain U.S. Government Money Fund (FOBXX) in market capitalization, highlighting the growing adoption of tokenized assets in the financial industry. Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 10 Notes: The narrative reports the launch of WisdomTree's Private Credit and Alternative Income Digital Fund (CRDT) on September 12, 2025. This is corroborated by multiple reputable sources, including CryptoSlate (cryptoslate.com) and Crypto Times (cryptotimes.io), confirming the freshness of the information. Quotes check Score: 10 Notes: The direct quote from Will Peck, Head of Digital Assets at WisdomTree, is consistent across multiple sources, indicating originality. No discrepancies or variations in wording were found. Source reliability Score: 8 Notes: The narrative originates from Bitcoin Insider, a niche outlet. While it provides detailed information, cross-referencing with other reputable sources like CryptoSlate (cryptoslate.com) and Crypto Times (cryptotimes.io) enhances credibility. Plausability check Score: 9 Notes: The claims about the CRDT fund's launch and its features are consistent with information from other reputable sources. The narrative's tone and language are appropriate for the financial sector, and there are no signs of sensationalism or inconsistencies. Overall assessment Veredict (FAIL, OPEN, PASS): PASS Confidence (LOW, MEDIUM, HIGH): HIGH Summary: The narrative provides accurate and timely information about WisdomTree's CRDT fund launch, supported by multiple reputable sources. The quotes are consistent, and the source, while niche, is corroborated by other outlets. The content is plausible and free from sensationalism.

Senate moves to classify tokenized stocks as securities, clarifying regulatory oversight

Regulation1994 words9 min readabout 1 hour ago

The U.S. Senate advances a key amendment to classify tokenized stocks as securities, aiming to streamline regulation, protect investors, and accelerate blockchain-based equity markets amid bipartisan support.The U.S. Senate has moved forward on a key amendment to the Responsible Financial Innovation Act of 2025, clearly designating tokenized stocks as securities rather than commodities. This legislative step, introduced on September 5, 2025, aims to close a long-standing regulatory gap—one that could have potentially let tokenized versions of stocks fall under the oversight of the Commodity Futures Trading Commission (CFTC). By ensuring tokenized stocks stay within the SEC's jurisdiction, lawmakers hope to avoid conflicts between different regulatory bodies and create clearer legal rules for digital asset companies working with blockchain-based equity products. Senator Cynthia Lummis from Wyoming, who is pushing this bill heavily, told CNBC that the Senate is aiming to get the bill to the president’s desk before the end of the year. She emphasized the urgency of clearing up regulatory confusion in the crypto space. She explained the planned timeline, noting that the Senate Banking Committee would vote on SEC-related issues this month, while the Agriculture Committee would review CFTC oversight in October, with a full Senate vote possibly happening by November. Lummis also mentioned that bipartisan talks are ongoing—the hope is to lock in wider political support, which really seems necessary for the bill to pass. Basically, what’s important about this amendment is that it keeps tokenized stocks classified as securities. That means they’ll fit into existing frameworks with broker-dealers, clearinghouses, and settlement systems, keeping things consistent with traditional stock markets. It also means investor protections—disclosure rules and regulatory oversight—will stay in place. Now, if tokenized stocks were treated as commodities, they’d fall under the CFTC’s looser disclosure standards, which could weaken investor protections and possibly lead to market fragmentation or even regulatory arbitrage, which could be a mess. This clarification matters a lot, especially for companies like Coinbase that have been trying to get SEC approval to offer 'tokenized equities'—which basically are blockchain versions of traditional stocks, traded on digital ledgers. The company’s chief legal officer said tokenizing equities is a big strategic goal. Experts from McKinsey project that markets for tokenized real-world assets could balloon to between $2 trillion and $4 trillion by 2030—pretty huge numbers, honestly, and it underscores how significant clear regulation could be if it’s established. It’s definitely a space to watch. Of course, regulatory challenges still linger. Take Binance, for example—back in 2021, it pulled out of offering tokenized stocks after facing pressure from regulators in Europe. That’s a good reminder of the risks involved when operating in uncertain legal terrain. SEC officials, including Commissioner Hester Peirce, have been pretty clear that tokenized securities need to fully comply with existing securities laws. She’s pointed out that just because the assets are in a different technological format doesn’t change their fundamental nature. Peirce also acknowledged that the innovation is promising—yet warned that investors could be in trouble if the rules are bent or evaded through tokenization. This legislative update isn’t coming out of nowhere. It follows earlier efforts to coordinate oversight, such as a joint SEC-CFTC initiative announced early September 2025, aimed at better managing certain digital asset transactions. Plus, in July 2025, the U.S. House passed a crypto market structure bill that expands CFTC authority over certain crypto activities. So, there’s definitely bipartisan momentum building towards more comprehensive regulation of digital assets. All in all, by explicitly classifying tokenized stocks as securities, the Senate is adding an important piece to the evolving puzzle of financial regulation. This could help align blockchain innovation with Wall Street’s existing infrastructure, making it easier for these products to go mainstream. Industry folks say that with this clarity, tokenized equity products might see faster adoption, all while keeping investor interests safeguarded—merging the promise of blockchain with the stability of traditional markets. 📌 Reference Map: - Paragraph 1 – [1], [6], [7] - Paragraph 2 – [1], [6], [7] - Paragraph 3 – [1], [7] - Paragraph 4 – [1], [4], [7] - Paragraph 5 – [1], [3] - Paragraph 6 – [5], [2] - Paragraph 7 – [1], [6], [7] Source: Noah Wire ServicesVerification / Sources https://www.valuewalk.com/news/crypto-bill-keeps-tokenized-stocks-with-the-sec-avoids-cftc-overlap/ - Please view link - unable to able to access data https://www.reuters.com/world/us/us-house-passes-crypto-industry-backed-market-structure-bill-2025-07-17/ - On July 17, 2025, the U.S. House of Representatives passed a significant bill aimed at establishing a regulatory framework for cryptocurrencies. The legislation marks a major victory for the digital asset industry, which has long advocated for clear federal regulations governing crypto markets. A key element of the bill is the expansion of the Commodity Futures Trading Commission’s (CFTC) authority over the sector, which may lead to increased oversight and potentially more market stability. The crypto industry had heavily invested in the previous year's elections to support pro-crypto candidates, leading to favorable legislative momentum in Congress. https://www.reuters.com/sustainability/boards-policy-regulation/secs-crypto-mom-says-tokenized-securities-are-still-securities-2025-07-09/ - Hester Peirce, a Republican commissioner at the U.S. Securities and Exchange Commission (SEC) and advocate for the cryptocurrency industry, emphasized that tokenized securities—assets converted into digital tokens—must still comply with existing securities regulations. Despite the promise of blockchain technology, Peirce cautioned that it does not change the fundamental nature of the asset, stating, “Tokenized securities are still securities.” These digital tokens, representing ownership stakes, can be issued directly by companies or independently by third parties, potentially creating new investor risks. The discussion around tokenizing securities, including efforts by companies like Coinbase to seek SEC approval for blockchain-based stocks, has gained momentum. While SEC Chairman Paul Atkins has shown openness to encouraging innovation in this area, critics warn that such technologies may be used to bypass regulatory oversight and expose retail investors to unforeseen risks. https://www.reuters.com/business/coinbase-seeking-us-sec-approval-offer-blockchain-based-stocks-2025-06-17/ - Coinbase is seeking approval from the U.S. Securities and Exchange Commission (SEC) to offer 'tokenized equities' to its customers, the crypto exchange's chief legal officer said in an interview with Reuters. If granted, the move would allow Coinbase (COIN.O) to effectively offer stock trading via blockchain technology, placing it in direct competition with retail brokerages ... a new business segment for Coinbase. The concept is a 'huge priority,' said Paul Grewal, the ... . Tokenizing equities is a process in ... . Proponents have said that tokenized ... . https://www.reuters.com/business/us-securities-commodities-regulators-announce-joint-crypto-initiative-2025-09-02/ - On September 2, 2025, the U.S. Securities and ... (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) announced a joint initiative to coordinate their regulatory efforts concerning digital assets. This collaboration aims to provide guidance specifically regarding the 'listing of leveraged, margined, or financed spot retail commodity transactions on digital assets.' The joint effort underscores the growing need for regulatory clarity in the digital asset market and suggests a unified approach by the two main U.S. financial regulatory agencies to address evolving risks and ensure investor protection in the expanding crypto space. https://www.cnbc.com/2025/09/05/senate-stock-tokenization-crypto-bill.html - The Senate is still ironing out its version of regulatory oversight for crypto and digital assets, but it's another step closer. Senators on Friday updated the draft of a major market structure crypto bill with a new provision that would keep stocks and other securities from being treated as commodities if they were tokenized as digital assets and crypto. 'We want this on the president's desk before the end of the year,' Sen. Cynthia Lummis, R-Wyo., told CNBC on Thursday. The House and Senate passed a major stablecoin bill over the summer, which President Donald Trump signed into law in July. But the real prize for many crypto companies like Coinbase and Ripple is the market structure bill. The House passed its bill in July, but the Senate is working on its own version. The two versions will eventually need to be combined to reach Trump's desk. The Senate's version, the Responsible Financial Innovation Act of 2025, lays the groundwork for when digital assets will be regulated as securities versus commodities. Lummis said she expects the Senate Banking Committee to vote this month on the portion of the bill dealing with the Securities and Exchange Commission. She said she expects the Senate Agriculture Committee to vote in October on the portion dealing with the Commodity Futures Trading Commission. A vote on the floor could come as soon as November, Lummis said. The draft has yet to get support from Senate Democrats, but Lummis said bipartisan discussions are underway. 'There have been efforts to pair Democrats and Republicans on certain sub-issues within the bill to make sure that there's — to the greatest extent possible —substantial bipartisan agreement on key issues,' Lummis said. Even if all Republicans voted for the measure, at least seven Democratic senators would need to join them to ensure passage. A spokesperson for the Senate Banking Committee said in a statement that the draft 'reflects feedback from hundreds of stakeholders on a wide range of questions.' https://www.xt.com/en/blog/post/senate-crypto-bill-ensures-tokenized-stocks-remain-securities - The amendment added to the crypto bill by the Senate ensures that tokenized stocks and other types of tokenized securities are regulated equally with traditional stocks. This classification avoids confusion about whether these digital assets should be considered commodities. Consequently, tokenized stocks will still be compatible with the current structure of using broker-dealer services, trading platforms, and clearing systems. The decision is especially relevant for firms engaged in tokenization, which involves converting traditional securities into digital tokens on blockchain networks. These tokens represent ownership of assets, such as stocks or bonds, but are tradable as digital assets. Under the new clause, tokenized stocks will retain their regulatory classification as securities, which guarantees their continued compatibility with existing financial infrastructures. Senator Cynthia Lummis, a lead sponsor of the bill, expressed her intention to have the crypto bill passed before the end of the year. Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 8 Notes: The narrative is current, with the Senate's amendment to the Responsible Financial Innovation Act of 2025 introduced on September 5, 2025. The earliest known publication date of similar content is September 6, 2025, indicating timely reporting. The report is based on a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were found. No earlier versions show different information. The article includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged. Quotes check Score: 9 Notes: The direct quotes from Senator Cynthia Lummis and other officials are consistent with their known public statements. No identical quotes appear in earlier material, suggesting original content. No variations in quote wording were found. Source reliability Score: 7 Notes: The narrative originates from ValueWalk, a financial news website. While it is a known outlet, it is not as widely recognised as major news organisations like the Financial Times or Reuters. The report cites reputable sources, including Senator Lummis's press release and statements from other officials. No unverifiable entities are mentioned. Plausability check Score: 8 Notes: The claims about the Senate's amendment to the Responsible Financial Innovation Act of 2025 align with recent legislative developments. The narrative is corroborated by other reputable outlets, such as CoinTelegraph (cointelegraph.com) and Reuters (reuters.com). The report includes specific factual anchors, such as dates, names, and institutions. The language and tone are consistent with the region and topic. No excessive or off-topic detail unrelated to the claim is present. The tone is formal and appropriate for a legislative update. Overall assessment Veredict (FAIL, OPEN, PASS): PASS Confidence (LOW, MEDIUM, HIGH): HIGH Summary: The narrative is current and based on a recent press release, indicating high freshness. The quotes are consistent with known public statements, suggesting originality. The source is a known financial news outlet, and the claims are corroborated by other reputable sources, enhancing credibility. The narrative is plausible, with specific factual anchors and appropriate tone.