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$GRVT Banks may be able to slow the growth of stablecoins like $USDT and $USDC by paying savers more, according to a working paper published by the Bank for International Settlements (BIS). Researchers Rashad Ahmed and Iñaki Aldasoro studied weekly data from January 2019 to June 2025, accounting for bitcoin prices, Treasury yields and broader financial conditions. They found that a one-week, one basis point rise in average bank deposit rates predicted slower stablecoin growth. That small figure, just 0.01 percentage points, cut average ten-week growth in stablecoin market capitalization from about 15% to about 12%, the paper found. Under the authors’ preferred estimate, which adjusts for banks raising rates in response to stablecoin growth, the effect was roughly three times larger, slowing growth to about 6%, though the authors flagged some weakness in that method. In both cases, growth slowed but did not reverse. The relationship was stronger for Circle’s $USDC than Tether’s $USDT, a pattern the authors said was consistent with $USDC’s closer ties to U.S. users. The findings add evidence to a debate that has drawn warnings from bank executives. Bank of America CEO Brian Moynihan warned in January that as much as $6 trillion in deposits could move into stablecoins and related products offering returns, potentially reducing lending capacity and raising borrowing costs. The effect is partly based on where issuers put their reserves. A December Federal Reserve staff analysis explained that money placed in stablecoins can return to banks as issuer deposits, changing who supplies banks’ funding even when total deposits remain unchanged. Larger, uninsured balances could require banks to keep more liquid assets and leave less room for long-term loans that financial institutions issue. Paying more to retain customers also raises banks’ funding costs. The Fed analysis suggested banks could target better rates at customers most likely to switch, while keeping lower rates for less mobile depositors. The BIS paper does not establish losses of bank deposits or lending. Its sample covers one high-rate episode, and the findings may change as yield-bearing stablecoins and tokenized money market funds gain ground. Banks “retain some influence over the pace of that adoption through deposit pricing,” the authors wrote.

$GRVT Tokenized stocks are increasingly finding a buyer outside traditional market hours, as trading volume for onchain equities shifts to evenings and overnight sessions. New figures compiled from industry datasets suggest that for platforms operating on networks including BNB Chain, Solana and Base, the “after-hours” pattern is no longer an edge case—it is where most activity is happening. Meanwhile, the wider crypto business agenda moved forward on three other fronts: corporate Bitcoin treasury expansion at Strive, rising financing friction for miners chasing AI-era compute, and a proposed US accounting change that could make certain stablecoin holdings easier for companies to treat as cash equivalents. Here’s what to know. Key takeaways More than 70% of tokenized stock trading volume on BNB Chain occurs outside US regular trading hours, according to Blockworks data cited by The Kobeissi Letter. Tokenized equities reached nearly $3.3 billion in total value onchain over the past 30 days, based on RWA.xyz figures, indicating sustained growth rather than a temporary spike. Strive added 3,311 BTC to its holdings for a total of 32,773 BTC after investors exercised $208 million in warrants, per its SEC filing. Bitcoin miners’ AI expansion may be constrained by higher borrowing costs and deal structure risk, with BlocksBridge Consulting describing a growing financing “gap.” A proposed FASB accounting update could allow qualifying stablecoins to be treated as cash equivalents, but redemption rights with issuers would likely be required. After-hours demand becomes the defining feature of tokenized stocks One of the clearest signals in tokenized equities is where trading actually takes place. According to Blockworks data cited by The Kobeissi Letter, more than 70% of tokenized stock trading volume on BNB Chain occurs outside the standard 9:30 am to 4:00 pm Eastern window. On Solana, the share is 63%, while on Base it is nearly 60%. Similar themes appear in broader adoption metrics. RWA.xyz reports the value of tokenized stocks has risen about 15% over the past 30 days to nearly $3.3 billion, while Jupiter reported a 50% month-over-month increase in tokenized asset trading volume. Taken together, the trend points to a market that is not just “always on,” but actively used during periods when conventional equities typically cannot trade. This matters for investors because 24/7 access can redistribute liquidity over time zones and reduce dependence on US session timing. In practical terms, the appeal is straightforward: holders and traders can manage exposure without waiting for Wall Street’s opening bell—an important difference for global participation and for those who monitor positions outside standard hours. Regulatory developments could accelerate the shift, but access constraints remain. The SEC’s “innovation exemption,” as covered by Cointelegraph earlier, is designed to create a pathway for qualifying platforms to trade tokenized US-listed stocks on public blockchains, with disclosure and shareholder protection requirements. Still, current tokenized stock offerings cited in the reporting—such as xStocks and Ondo Global Markets—remain largely unavailable to US investors, which limits who can fully benefit from the after-hours liquidity trend. For readers watching this space, the key question is whether more platforms will gain eligibility under existing regulatory frameworks—and, if so, whether volume outside US hours will continue to dominate as US participation expands. Strive grows its Bitcoin treasury after major warrant exercises Strive’s corporate Bitcoin position continued to expand as investors exercised warrants worth hundreds of millions of dollars. In a Tuesday filing with the US Securities and Exchange Commission, the company disclosed that it purchased 3,311 BTC during the week ending Oct. 9 at an average price of roughly $84,500 per coin. The buys increased Strive’s total holdings to 32,773 BTC, placing the firm among the largest publicly traded corporate Bitcoin holders, according to the filing cited in coverage. The same filing tied the additions to investor warrant activity: Strive said investors exercised $208 million in warrants, with about $15.3 million still outstanding ahead of the Tuesday expiration. Strive also amended its governing documents to establish a binding $100 minimum issuance price for its SATA preferred shares, which were reportedly trading around $99.40 at the time mentioned in the coverage. On market context, Bitcoin was noted as trading near $83,300 at the time, below Strive’s average purchase price for the week, while Strive’s common stock (ASST) was described as little changed at $27.52. For market participants, the significance isn’t only the size of the treasury increase, but the mechanism: warrant exercises can create a predictable flow of capital that companies can deploy into Bitcoin exposure. Investors should watch whether additional warrant tranches, issuance rules, or changes in financing costs influence the pace of future treasury expansion. AI ambitions raise the stakes for Bitcoin miners’ financing math Bitcoin mining companies that want to pivot toward artificial intelligence and high-performance computing are facing a more complicated financing environment. BlocksBridge Consulting’s Miner Weekly, as cited in this coverage, suggests that securing AI customers is only part of the challenge—miners also need large-scale capital to fund data center construction, equipment purchases, and power infrastructure. The core issue appears to be how lenders price risk. Financing terms increasingly depend on who the AI customer is and how likely the project is to be completed. That structure risk—customer contract quality, delivery timelines, and execution feasibility—can translate into higher effective borrowing costs, making it harder to finance expansions on attractive terms. The reporting highlights the spread in financing deals. IREN secured $3.65 billion in financing in June at a blended interest rate of 6%, then reportedly arranged another $2.4 billion in August at a fixed 9% rate. While the projects differ, the contrast illustrates how funding costs can vary materially across deals. Earlier analysis cited by the report, including a June BlocksBridge review referencing VanEck, estimated that publicly traded Bitcoin miners may have required $50 billion to support AI infrastructure ambitions. Within that gap, the analysis attributed large portions to individual miners—IREN at $21.1 billion, Riot Platforms at $7.2 billion, and HIVE Digital Technologies at $4.6 billion—though the direct comparability of individual projects was acknowledged. What to watch next is whether improved AI customer traction can stabilize financing terms—or whether the market continues to reprice risk upward, forcing miners to scale plans back, seek alternative funding structures, or prioritize projects with more secured revenue. Proposed FASB rules could help companies treat stablecoins like cash—if redemption works Stablecoins may be closer to mainstream corporate accounting comfort if the US Financial Accounting Standards Board adopts a proposal that treats qualifying stablecoin holdings as cash equivalents. According to a report from payments blockchain Tempo, the proposed change would allow companies to recognize certain stablecoins on their balance sheets more similarly to cash—an improvement over current practices where stablecoin holdings may not count as cash reserves. Under current reporting, that gap can affect liquidity ratios and even loan covenants, despite the fact that many stablecoins are designed to remain backed by US dollars. The Tempo report indicates the FASB proposal could alter those outcomes by changing which tokens qualify. The catch is redemption. Tempo noted that companies would need direct redemption rights with stablecoin issuers to meet the proposed conditions. In other words, buying USDC through an exchange may not automatically satisfy eligibility. Cointelegraph also noted that Coinbase already classified USDC and other payment stablecoins as cash equivalents in its 2025 annual report, referencing its redemption arrangement with Circle. The proposal is open for public comment until Nov. 19. After that, FASB will review feedback before deciding on final rules and determining when any new guidance would take effect. For corporate treasurers and finance teams, this is a practical development to monitor: easier cash-equivalent treatment could reduce accounting friction and make stablecoin allocations more feasible—provided the final conditions align with how companies can obtain and document redemption rights. Across these stories, a common thread emerges: tokenized financial products and crypto treasury strategies are moving from experimental to operational. The next steps—whether regulatory eligibility expands for tokenized equities, how financing costs evolve for miner-led compute plays, and what FASB ultimately decides on stablecoin accounting—will shape how quickly institutional adoption can accelerate. This article was originally published as Wall Street Closes at 4 as Tokenized Stocks Keep Trading After Hours on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

$GRVT Tokenized stocks are increasingly trading around the clock, and new data suggests the “after-hours” use case is no longer a niche experiment. According to Blockworks figures cited by The Kobeissi Letter, more than 70% of tokenized stock trading volume on BNB Chain happens outside the traditional U.S. market session. Similar patterns—though slightly lower—are visible on Solana and Base, pointing to a growing demand for equities access that does not depend on Wall Street’s opening bell. At the same time, parts of the tokenized-stock ecosystem still appear difficult to access for U.S. investors. That gap matters as regulators begin creating pathways for compliant tokenized trading. In parallel, other business developments—from Bitcoin treasury expansion to proposed stablecoin accounting changes—are shaping how corporate players may engage with crypto over the next cycle. Key takeaways Over 70% of tokenized stock trading volume on BNB Chain occurs outside regular U.S. market hours, with Solana at 63% and Base near 60%, per Blockworks data cited by The Kobeissi Letter. Tokenized equities are positioned as “anytime” access for investors, potentially redistributing liquidity across the day rather than concentrating it in U.S. hours. The U.S. SEC’s innovation exemption for certain tokenized stock trading may expand qualifying offerings, but existing products remain largely unavailable to American investors. Bitcoin treasury company Strive reported purchasing 3,311 BTC during the week ending Oct. 9 at an average price of about $84,500, increasing total holdings to 32,773 BTC. Proposed U.S. accounting updates could allow certain stablecoin holdings to be treated as cash equivalents, but Tempo notes companies would need direct redemption rights to qualify. After-hours demand becomes a core feature of tokenized stocks While tokenized equities often get marketed as a bridge to traditional markets, the most striking signal in current onchain activity is timing. According to Blockworks data highlighted by The Kobeissi Letter, trading volume for tokenized stocks on BNB Chain is overwhelmingly concentrated outside the 9:30 a.m. to 4:00 p.m. Eastern window. On Solana, the share of trading outside regular U.S. hours stands at 63%, while Base is close to 60%—figures that, taken together, suggest around-the-clock liquidity is becoming a defining attribute of tokenized stock markets. Growth in the underlying market reinforces that interpretation. Jupiter reported a 50% month-over-month increase in tokenized asset trading volume, while RWA.xyz data shows the value of tokenized stocks rising 15% over the past 30 days to nearly $3.3 billion. One practical implication for investors is that “market hours” may matter less for certain participants. If tokenized equities routinely trade when U.S. exchanges are closed, investors in different time zones can execute and manage exposure without waiting for U.S. opening times. That can also change where liquidity sits throughout the day—an issue for traders who rely on spreads and depth during specific sessions. Regulatory pathways exist, but U.S. access remains uneven The momentum toward 24/7 trading arrives alongside a shifting regulatory backdrop. Earlier coverage noted that the U.S. Securities and Exchange Commission has introduced an innovation exemption approach for qualifying platforms to trade tokenized U.S.-listed stocks on public blockchains, subject to disclosure and shareholder protection requirements. However, the onchain ecosystem does not automatically translate into broad U.S. retail access. The existing tokenized-stock offerings referenced in industry reporting—such as xStocks and Ondo Global Markets—remain largely unavailable to U.S. investors, which limits how much of the activity can be attributed to domestic demand. That tension is important for market watchers: if after-hours trading continues to dominate activity globally, the future scale of the market may hinge less on user behavior and more on which tokenized equity platforms gain approval to serve U.S. participants. For traders and builders, the key question is whether regulatory-compliant platforms can expand the customer base enough to move beyond “off-hours” participation by non-U.S. users. Strive’s Bitcoin expansion underlines treasury strategy momentum Outside tokenized equities, Bitcoin treasuries remain active, and Strive’s latest disclosures illustrate how corporate demand is being expressed in measured, tranche-like purchases. In a Tuesday filing with the SEC, Strive said it bought 3,311 BTC during the week ending Oct. 9 at an average price of roughly $84,500 per coin. The purchases lifted its total holdings to 32,773 BTC, placing the company among the largest publicly traded corporate Bitcoin holders. The filing also attributed the buying to warrant activity: Strive said investors exercised $208 million in warrants, with about $15.3 million still outstanding ahead of Tuesday’s expiration. The filing period also included changes to governance. Strive amended its governing documents to set a binding $100 minimum issuance price for its SATA preferred shares, which were trading around $99.40 at the time referenced in the report. For investors, this matters because treasury-led buying can become a persistent demand channel—particularly when financed by warrant exercises rather than immediate new equity issuance. It also means that short-term market moves in Bitcoin may not fully dictate corporate accumulation schedules, even when share prices and treasury average purchase prices diverge. Bitcoin miners’ AI pivot runs into financing math Bitcoin mining companies looking to expand into artificial intelligence and high-performance computing face a practical constraint: the cost of capital appears to be rising, especially as lenders scrutinize the risks of large-scale data center projects. BlocksBridge Consulting’s Miner Weekly frames the issue as more than just finding AI customers. Miners still need billions of dollars for facilities, equipment, and power infrastructure, and financing terms increasingly depend on customer commitments and the likelihood that projects will be completed. Recent deals illustrate how lender terms can vary by project. IREN reportedly secured $3.65 billion in financing in June at a blended interest rate of 6%, then another $2.4 billion in August at a fixed 9% rate. BlocksBridge notes the projects are not identical, making direct comparisons imperfect—but the broader takeaway is that capital markets are pricing these expansions with meaningful risk premiums. Funding requirements are large. A June BlocksBridge analysis cited by Cointelegraph, referencing VanEck, estimated publicly traded Bitcoin miners required $50 billion to fund AI infrastructure ambitions. IREN alone was cited with a $21.1 billion funding gap, followed by Riot Platforms at $7.2 billion and HIVE Digital Technologies at $4.6 billion. Investors tracking miner balance sheets may want to watch how quickly miners can secure customer revenue and convert that into financeable, bankable plans—because the bottleneck may shift from “whether AI is the next bet” to “whether the project can be funded cheaply enough to matter.” Stablecoin accounting proposal could change how corporations report cash Another development with potential downstream impact for mainstream adoption is an accounting proposal in the United States that could improve stablecoins’ balance-sheet treatment. According to a report from payments blockchain Tempo, proposed changes to U.S. accounting standards could allow qualifying stablecoin holdings to be treated as cash equivalents. Under current accounting practices, stablecoin holdings may not automatically count toward reported cash reserves, which can affect liquidity ratios and loan covenants—issues that can arise even when the tokens are backed by U.S. dollars. The proposed approach, Tempo notes, is not simply “hold stablecoins, get cash-equivalent treatment.” Companies would need direct redemption rights with stablecoin issuers to qualify. Tempo specifically cautioned that buying USDC through a cryptocurrency exchange may not satisfy that requirement, depending on the structure of redemption access. Coinbase, for its part, already classified USDC and other payment stablecoins as cash equivalents in its 2025 annual report, citing its redemption arrangement with Circle as support for that treatment. The proposal is open for public comment until Nov. 19. After that, FASB will review submissions before determining final rules and their effective date—details that market participants will likely treat as decisive for how quickly corporate demand could translate into higher stablecoin usage. As after-hours tokenized stock trading accelerates globally, the next watchpoint is whether U.S.-accessible offerings expand in step with regulatory clarity. In parallel, miners’ ability to finance AI-adjacent expansion and the final shape of stablecoin accounting rules could materially influence how quickly corporate capital flows back into crypto-related rails. This article was originally published as Wall Street’s 4 p.m. close boosts tokenized stock trading on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

$GRVT Deutsche Bank reportedly intends to debut its crypto custody services in Germany and plans to expand them across Asian financial centers in 2027. The rapid growth of the digital asset economy, including hundreds of billions of dollars held in stablecoins, is driving the bank’s plans, Gerald Podobnik, co-head of Deutsche Bank’s corporate bank, told Reuters in a Friday report. Podobnik added that the move is part of Deutsche Bank’s goals to achieve compound annual growth of 8% in corporate banking by 2028. The bank’s custody service will initially support Bitcoin (BTC), Ether (ETH) and select stablecoins, including Circle USDC (USDC), EURC (EURC) and AllUnity EUR (EURAU), according to a Sept. 16 press release. A spokesperson for Deutsche Bank recently told Cointelegraph that it expects to receive regulatory approval for the custody offering in October, under the Markets in Crypto-Assets Regulations (MiCA). The European Securities and Markets Authority’s interim MiCA register showed that Deutsche Bank received authorization from Germany’s Federal Financial Supervisory Authority (BaFin) on Monday. Cointelegraph has contacted Deutsche Bank for comment on which Asian financial centers it plans to target first but had not received a response by the time of publication. In September 2023, Deutsche Bank partnered with cryptocurrency infrastructure platform Taurus to support its crypto custody plans. Related: Kraken parent to buy Lithuanian Saldo Bank amid TradFi expansion