Coindesk

Financial technology and crypto firms are applying for state or national bank charters, aiming to expand their business under the more crypto-friendly Trump administration as industry executives report a notable uptick in charter discussions and applications, Reuters reports."We have seen a lot more interest. We are working on several applications now," Alexandra Steinberg Barrage, a partner at law firm Troutman Pepper Locke, told Reuters. However, firms are being “cautiously optimistic” as regulatory agency leadership changes unfold.Becoming a bank brings stricter regulatory oversight, but it can reduce borrowing costs and enhance legitimacy. Bank charters allow firms to lower their cost of capital by accepting deposits, yet accessing these is a major point of contention in the crypto community.Various cryptocurrency firms have,...

Crossmint, a blockchain infrastructure firm helping companies build on-chain applications, has raised $23.6 million in funding.The company, which has over 40,000 users, aims to simplify blockchain adoption by enabling firms to integrate wallets, tokenization, and payments with minimal code, according to a statement on Tuesday. Crossmint users, including big brands Adidas and Red Bull, use the platform to transition their operations on-chain.Crossmint is also building a framework for artificial intelligence-driven commerce, providing wallets and payment APIs for AI agents. "AI agents are reshaping commerce. Soon, they will autonomously manage tasks like grocery shopping or personal styling," said Alfonso Gomez-Jordana, co-founder of Crossmint. "Traditional payment systems weren’t designed for AI agents—but blockchain is."Ribbit Capital led the investment round with additional participation...

Solana doesn't yet have an exchange-traded fund, but one of the asset's biggest backers is betting the Wall Street-friendly vehicle could come in 2025 — and believes it's well-positioned to trounce Ethereum's various similar products.Multicoin Capital's Kyle Samani — a major investor in SOL and countless subordinate protocols — has been publicly pressing the Securities and Exchange Commission (SEC) to look favorably upon a SOL ETF. His bullish pronouncements therefore might come as little surprise.But onstage Tuesday at Blockworks' Digital Asset Summit in New York City, Samani explained his view why Solana is better placed to appeal to traditional investors than Ethereum did. It's all about the money: the fees being generated on-chain, compared to the value of the asset's...

Crypto market regulatory clarity was cited as the top catalyst for growth in the digital asset industry, according to a survey by crypto exchange Coinbase (COIN) and consulting firm EY-Parthenon (EYP). Coinbase and EY Parthenon surveyed 352 institutional investors between Jan. 13 and Jan. 24 this year. 86% of those surveyed said they had exposure to digital assets or planned to make allocations in 2025, and 84% said they had increased allocations to crypto and crypto-related products in 2024.59% of respondents said they planned to allocate more than 5% of their assets under management (AUM) to cryptocurrencies in 2025.An improving regulatory backdrop under Donald Trump's new administration is viewed as a large tailwind for the digital asset industry. The President...

Nasdaq officially asked the U.S. Securities and Exchange Commission (SEC) to allow Swiss asset manager 21Shares list and trade shares of a polkadot (DOT) exchange-traded fund (ETF).The exchange submitted a 19b-4 filing to the SEC, asking for permission to list the ETF if it is approved by the regulator.The proposed fund would track the spot price of DOT, the native cryptocurrency of the Polkadot network. The filing follows an amended S-1 form submitted by 21Shares earlier this year, marking another step in the firm’s push to bring more crypto investment products to the market.21Shares is also seeking regulatory approval for funds linked to XRP and solana's SOL. The company recently announced it’s set to liquidate two actively managed crypto ETFs...