Crypto Biz: From banks to biotechs, real-world assets move onchain

TradFi dives deeper into crypto: Tether’s mega raise, SEC eyes onchain stocks, JPMorgan expands Kinexys and a biotech bets treasury on DePIN.

If this week’s Crypto Biz had a theme, it’s the steady march of traditional finance deeper into crypto’s core infrastructure.

Tether is reportedly courting major venture firms for a funding round that could value the stablecoin issuer alongside private tech giants like OpenAI. At the same time, US regulators are considering whether traditional stocks should trade onchain, as the convergence between the Securities and Exchange Commission, Wall Street and tokenization gains momentum.

Elsewhere, JPMorgan’s Kinexys platform added a major Gulf bank as a user, while a Nasdaq-listed biotech firm built a treasury entirely around a DePIN token.

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