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7,338 words · 32 min read

Daily Wire — May 13, 2026

59 distinct stories from 83 entries across hyperliquid perp-dex tokenization-rwa stablecoin-infra mica-regulation 247-trading broker-apis prop-trading ai-in-trading.

Hyperliquid Ecosystem

Hyperliquid HIP-4 Proposal Adds Outcome-Based Trading; HYPE Gains 10%

hyperliquid

A new governance proposal, HIP-4, would bring prediction-market and options-style outcome contracts to Hyperliquid, launching first on testnet with curated markets before potential permissionless listings. The announcement drove HYPE up roughly 10%, extending the platform's derivative menu beyond perpetual futures without requiring margin or liquidation exposure.

  • What: Hyperliquid's HIP-4 proposal introduces outcome-based trading contracts, with a testnet launch preceding permissionless listings.
  • Why: Expanding into prediction markets broadens Hyperliquid's addressable user base and differentiates it from competing perp DEXs.

Sources: coindesk.com, 2026-05-13

HYPE Token Tokenomics: Governance, Staking, and Distribution Structure

hyperliquid

HYPE serves as Hyperliquid's governance and staking token, with holders able to propose protocol updates, stake for rewards, and participate in liquidity pools. The structured distribution model allocates tokens across early investors, staking rewards, and governance, anchoring community engagement as the platform expands into new derivative classes.

  • What: HYPE's tokenomics allocate supply across staking rewards, governance participation, and early-investor tranches on Hyperliquid's L1 DEX.
  • Why: Staking-and-governance mechanics create retention incentives that compound as new product categories attract incremental liquidity.

Sources: mexc.com, 2026-05-13

Perp DEXs

TD Securities: Perpetual Futures Are the Missing Infrastructure Layer for Tokenized Equities

perp-dex 247-trading

TD Securities analysts argue that perpetual futures, which already constitute 75% of crypto trading volume and operate offshore, are the natural settlement mechanism for tokenized equity markets that need continuous price discovery. South Korean retail investors already account for over 40% of overnight U.S. equity trading, illustrating the global retail demand that perps would service onshore if regulators act.

  • What: A TD Securities report frames perp futures as the structural bridge for 24/7 tokenized equity trading, noting SEC and CFTC are considering rulemaking.
  • Why: If regulators greenlight regulated equity perps, the offshore volume shifts onshore and reshapes how retail globally accesses U.S. markets.

Sources: tdsecurities.com, 2026-05-13

Top 10 On-Chain Perp Trading Tools: TradingView, Copin, Hyperliquid WebSocket API Lead

perp-dex

A practitioner roundup of on-chain perpetual trading infrastructure highlights TradingView (free–$59.95/month), Copin Analyzer for strategy replication on Hyperliquid, and Hyperliquid's own WebSocket API for TWAP bot execution. The tooling stack reflects a maturing ecosystem where quant infrastructure has moved fully on-chain across dYdX, GMX, Vertex, and Hyperliquid venues.

  • What: A guide identifies the ten primary tools for on-chain perp traders, spanning charting, copy-trading analytics, and bot execution APIs.
  • Why: Standardisation of quant tooling on public perp DEX infrastructure reduces the technical barrier and accelerates institutional-grade participation.

Sources: mexc.co, 2026-05-13

Tokenization & RWAs

Tokenized Treasuries Reach Record $15.35 Billion as Fed Rate Concerns Drive Yield Demand

tokenization-rwa

Total value locked in tokenized U.S. Treasury instruments hit $15.35 billion, surpassing the prior $15.10 billion peak set in mid-April, as investors sought yield-bearing on-chain instruments amid building inflation concerns ahead of a PPI release. Analysts expect flows to accelerate further if PPI confirms persistent inflation at the consensus 4.9% year-on-year forecast.

  • What: Tokenized Treasury TVL reached a record $15.35 billion on 2026-05-13, driven by yield-seeking flows from institutional and on-chain participants.
  • Why: Each CPI or PPI beat strengthens the structural case for tokenized T-bill products as a hedged, liquid cash-management layer within DeFi portfolios.

Sources: coindesk.com, 2026-05-13

JPMorgan Files for OnChain Liquidity-Token Money Market Fund on Ethereum via Kinexys

tokenization-rwa

JPMorgan filed with the SEC to launch the JPMorgan OnChain Liquidity-Token Money Market Fund, investing exclusively in short-term Treasuries, cash, and overnight repos, with blockchain infrastructure operated by its Kinexys Digital Assets unit. The filing follows BlackRock's parallel tokenized Treasury reserve vehicle and arrives as the GENIUS Act creates stablecoin-issuer demand for on-chain reserve vehicles.

  • What: JPMorgan filed an SEC registration for a tokenized Treasury MMF on Ethereum, designed to serve as compliant reserves for stablecoin issuers under the GENIUS Act.
  • Why: As the GENIUS Act nears passage, tokenized MMFs become regulatory-grade collateral, making this filing a direct bid for stablecoin-issuer treasury flows.

Sources: coindesk.com, 2026-05-13

Fidelity International Launches FILQ Tokenized Money Market Fund with Chainlink NAV Reporting

tokenization-rwa

Fidelity International launched FILQ, its first tokenized fund, using Chainlink for automated on-chain NAV reporting and Sygnum's Desygnate platform for issuance; the fund carries a AAA-mf rating from Moody's. The launch establishes a new compliance benchmark for tokenized money market funds as the sector approaches $15 billion in AUM.

  • What: Fidelity International deployed FILQ on-chain via Sygnum, with Chainlink providing real-time NAV data and a Moody's AAA-mf rating validating the structure.
  • Why: A Moody's-rated, Chainlink-reported tokenized fund sets institutional credibility standards that accelerate peer adoption across asset managers.

Sources: marketsmedia.com, 2026-05-13

Broadridge Extends Tokenisation Platform to Cover Equities, Funds, Alternatives Alongside Existing $365B Daily DLR

tokenization-rwa

Broadridge expanded its tokenisation capabilities beyond the Distributed Ledger Repo solution — which already processes over $365 billion daily — to include equities, funds, alternatives, and money market instruments with shared post-trade workflows and connectivity to Canton, Ethereum, and EVM networks. Corporate actions and on-chain governance services for tokenised securities, including dividend processing, are now part of the platform.

  • What: Broadridge extended tokenisation coverage to equities, alternatives, and money markets, adding on-chain governance and connecting to Canton and Ethereum networks.
  • Why: Unified pre- and post-trade tokenisation infrastructure from a single provider lowers integration friction for institutional clients already using Broadridge's core clearing.

Sources: fintechnews.sg, 2026-05-13; leaprate.com, 2026-05-13

NUVA Connects Figure's $19 Billion Tokenized Asset Portfolio to Ethereum DeFi

tokenization-rwa

Animoca-backed NUVA is linking $19 billion of tokenized real-world assets from Figure Technologies to Ethereum DeFi through two products: nvYLDS (a Treasury-linked yield vault) and nvPRIME (representing Figure's $18.4 billion HELOC portfolio). The platform targets retail DeFi users who previously lacked access to institutional-grade collateral instruments.

  • What: NUVA launched nvYLDS and nvPRIME to bring Figure's $19 billion tokenized asset book onto Ethereum as DeFi-composable instruments.
  • Why: Opening institutional-grade assets as on-chain collateral widens DeFi's addressable market and improves capital efficiency for retail borrowers.

Sources: coindesk.com, 2026-05-13

Ondo Finance Anchor in $20 Billion RWA Market; OUSG and USDY Token Adoption Expands

tokenization-rwa

Tokenized government securities and credit instruments exceeded $20 billion on-chain in 2026, up from $3.5 billion in early 2024, with Ondo Finance's OUSG (BlackRock iShares short-term Treasury ETF wrapper) and USDY (yield-bearing stablecoin) serving as primary instruments. Ondo's market cap reached $2.1 billion as BlackRock and Franklin Templeton's institutional entries validate the sector.

  • What: RWA tokenization surpassed $20 billion in 2026, with Ondo Finance's OUSG and USDY as leading products alongside BlackRock and Franklin Templeton entries.
  • Why: The shift from permissioned experiments to open institutional products marks a structural maturation that draws further TradFi capital on-chain.

Sources: yellow.com, 2026-05-13

Societe Generale Joins Canton Network as Ecosystem Super Validator, Deploys CoinVertible for Collateral

tokenization-rwa

Societe Generale is deploying its CoinVertible euro-denominated stablecoins on the Canton Network and joining as an Ecosystem Super Validator to build tokenized collateral and repo financing infrastructure. The bank will accept tokenized assets as collateral and act as counterparty in repo transactions, marking a direct bridge between regulated stablecoins and institutional collateral mobility.

  • What: SG-FORGE will deploy CoinVertible on Canton for collateral mobility and repo activity as Societe Generale joins the network as a Super Validator.
  • Why: A top-10 European bank embedding regulated stablecoins into live collateral workflows provides institutional proof-of-concept for the Canton ecosystem.

Sources: fxnewsgroup.com, 2026-05-13

Startale Raises $63M Series A from SBI and Sony to Scale Tokenized Securities and JPYSC Stablecoin

tokenization-rwa

Startale Group secured $63 million — $50 million from SBI Group and $13 million from Sony Innovation Fund — to advance its Strium Network, on-chain trading platform for tokenized securities, and JPYSC yen-denominated stablecoin. The company plans to add on-chain dividend and yield distribution functions for JPYSC and USDSC holders as Japan accelerates its tokenized finance agenda.

  • What: Startale raised $63 million from SBI and Sony to build out tokenized securities infrastructure and on-chain dividends for its yen and dollar stablecoins.
  • Why: SBI's distribution scale in Japanese retail finance accelerates JPYSC adoption and gives Startale's tokenized stock platform instant institutional credibility.

Sources: fintechfutures.com, 2026-05-13

Franklin Templeton and Payward (Kraken) Partner to Bring BENJI Tokenized MMFs On-Chain

tokenization-rwa

Franklin Templeton will integrate its BENJI global tokenized money market fund suite into Payward's infrastructure via the xStocks framework, which has processed over $30 billion since its 2025 launch, to offer institutional tokenized yield products. The collaboration explores actively managed on-chain investments as a next phase beyond passive Treasury wrappers.

  • What: Franklin Templeton and Kraken's parent Payward will launch BENJI-based tokenized yield products targeting institutional clients via the xStocks on-chain framework.
  • Why: Combining a legacy asset manager's product suite with a crypto-native distribution rail advances the tokenization of actively managed strategies, not just passive T-bill wrappers.

Sources: marketsmedia.com, 2026-05-13

Charles Schwab Launches Spot Bitcoin Trading for $11.77 Trillion Retail Brokerage Client Base

tokenization-rwa

Charles Schwab launched Schwab Crypto, allowing retail clients to trade bitcoin directly within its brokerage ecosystem via custodian Paxos, with a 75-basis-point fee; the product is initially limited to eligible U.S. customers outside New York and Louisiana. The launch brings spot bitcoin access to 39.1 million active Schwab accounts.

  • What: Schwab Crypto launched spot bitcoin trading at 75 bps for eligible U.S. retail clients, using Paxos custody and excluding New York and Louisiana.
  • Why: Direct spot BTC access at a $11.77 trillion AUM brokerage normalises digital asset ownership for a demographic that previously accessed it only via ETFs.

Sources: bitcoinmagazine.com, 2026-05-13

Elliptic Closes $120M Series D from Nasdaq Ventures and Deutsche Bank at $670M Valuation

tokenization-rwa

Blockchain analytics firm Elliptic closed a $120 million Series D co-led by Nasdaq Ventures and Deutsche Bank, valuing the company at $670 million, to scale enterprise-grade compliance analytics for banks, fintechs, and government agencies. Elliptic screens over 1 billion transactions weekly for 700+ clients as stablecoins and tokenized assets processed $33 trillion in transactions in 2025.

  • What: Elliptic raised $120 million at a $670 million valuation from Nasdaq Ventures and Deutsche Bank to expand blockchain compliance infrastructure for institutions.
  • Why: Deutsche Bank and Nasdaq as co-investors signals that TradFi is funding its own on-chain compliance layer rather than relying on third-party fintech tooling.

Sources: marketsmedia.com, 2026-05-13

Stablecoin Infrastructure

Osero Raises $13.5M Led by Sky Ecosystem to Bring Stablecoin Yield to $300B Holder Market

stablecoin-infra

Osero raised $13.5 million from Sky Ecosystem and Plasma to build stablecoin yield infrastructure — Earn (embeddable in ~10 lines of code), App (user interface), and Foundry (up to $2.5 billion allocation capacity under a Basel III-inspired risk framework) — targeting the structural imbalance where Circle and Tether retain most yield while holders receive none. The funding will support initial Foundry allocations.

  • What: Osero raised $13.5 million to build three stablecoin yield products targeting the $300 billion holder market currently underserved by issuer-captured yield.
  • Why: Embeddable yield infrastructure that fintechs can add in 10 lines of code could rapidly redistribute stablecoin economics away from issuers toward end users.

Sources: coindesk.com, 2026-05-13

PayDo Partners with BVNK to Add Stablecoin Checkout and Top-Up Without Crypto Custody

stablecoin-infra

PayDo (€5 billion annual processing volume) integrated BVNK's rails so merchants can accept crypto payments that settle instantly to fiat in PayDo accounts, and users can top up PayDo balances with stablecoins via a single auto-converting transaction — all without PayDo holding crypto custody. The integration addresses the compliance friction of stablecoin payments without requiring new licensing.

  • What: PayDo embedded BVNK's stablecoin-to-fiat rails to enable merchant checkout and user top-ups in stablecoins that settle in fiat, with no custody exposure for PayDo.
  • Why: Non-custodial stablecoin payments reduce regulatory overhead for payment platforms adopting crypto while preserving existing fiat compliance frameworks.

Sources: thefintechtimes.com, 2026-05-13

Stablecoins Face Checkout Abandonment: 76% of Users Quit Crypto Payments Mid-Transaction

stablecoin-infra

WalletConnect CEO Jess Houlgrave reports that 76% of users abandoned a crypto payment attempt in the last six months, citing gas fee confusion, wallet setup complexity, and transaction errors as primary causes — despite stablecoin transaction volumes reaching record highs. The data exposes a gap between settlement-layer maturity and end-user payment experience.

  • What: A WalletConnect study found 76% of users abandoned crypto payment attempts, identifying UX friction — not infrastructure — as the primary adoption barrier.
  • Why: Until checkout experiences match card-network simplicity, stablecoin volumes will remain concentrated in treasury management and B2B rails rather than retail spending.

Sources: pymnts.com, 2026-05-13

Coinbase Launches SOL-Backed USDC Loans up to $100K at 5% Starting Rate via Morpho

stablecoin-infra

Coinbase and Morpho launched Solana-backed loans allowing U.S. users (excluding New York) to borrow up to $100,000 in USDC against SOL holdings at starting rates of 5%, with no monthly payments or deadlines. The product follows Coinbase's earlier bitcoin-backed USDC loans and contributes to subscription-and-services revenue, which reached $584 million or 44% of net revenue last quarter.

  • What: Coinbase and Morpho launched SOL-collateralised USDC loans up to $100K at 5% for U.S. retail users, expanding Coinbase's non-trading revenue lines.
  • Why: Crypto-backed lending diversifies Coinbase away from fee-sensitive transaction revenue and builds a recurring income stream less sensitive to market cycles.

Sources: pymnts.com, 2026-05-13

Coinbase Q1 2026: $394M Net Loss, $1.41B Revenue, 14% Headcount Cut as Transaction Revenue Declines

stablecoin-infra

Coinbase reported a $394 million net loss for Q1 2026 on $1.41 billion in revenue (down from $2.03 billion year-on-year), with adjusted EBITDA falling 67% year-on-year to $303 million, prompting a 14% headcount reduction. Coinbase processed 62% of global on-chain stablecoin transaction volume in Q1 while maintaining its position as primary custodian for U.S. spot crypto ETFs.

  • What: Coinbase posted a $394 million net loss in Q1 2026, cut 14% of headcount, and reported $303 million adjusted EBITDA as transaction revenue contracted sharply.
  • Why: The widening divergence between custody/stablecoin infrastructure revenue (resilient) and trading commission revenue (volatile) defines the strategic path for the firm's next phase.

Sources: defieducation.substack.com, 2026-05-13

Kraken Parent Payward Applies for OCC National Trust Charter for Digital Asset Custody

stablecoin-infra

Payward filed with the Office of the Comptroller of the Currency to establish the Payward National Trust Company (PNTC), which would provide federally regulated custody and trust services for institutional digital asset clients. The application follows Payward's $600 million Reap and $550 million Bitnomial acquisitions and comes as the company explores a $20 billion valuation fundraise ahead of a paused IPO.

  • What: Payward applied for an OCC national trust charter to offer bank-level digital asset custody for institutional clients via the new Payward National Trust Company.
  • Why: A federal trust charter would give Payward regulatory standing equivalent to traditional custodian banks, unlocking institutional mandates that require OCC-regulated counterparties.

Sources: finovate.com, 2026-05-13

Ledger Pauses U.S. IPO Plans at ~$4B Valuation Amid Market Conditions

stablecoin-infra

Ledger, which engaged Goldman Sachs, Jefferies, and Barclays for its IPO process, has put U.S. listing plans on hold without filing an S-1 with the SEC, citing deteriorating market conditions. The firm is continuing to expand U.S. institutional operations, appointing John Andrews as CFO and opening a New York office, as it waits for a more favourable public market window.

  • What: Ledger suspended IPO preparations at an estimated $4 billion valuation without filing with the SEC, citing adverse market conditions.
  • Why: The pause — following Kraken's similar move — signals that crypto infrastructure firms are deferring public listings until regulatory clarity and macro conditions improve concurrently.

Sources: coindesk.com, 2026-05-13

Kevin Warsh Confirmed to Fed Board 51–45; Chair Vote Expected; Pledges Crypto Divestiture

stablecoin-infra

The Senate confirmed Kevin Warsh to the Federal Reserve Board in a 51–45 vote, positioning him as the leading candidate to replace Jerome Powell as chair; Warsh has equity in Bitcoin payments startup Flashnet and advisory roles at Bitwise and Basis but pledged to divest most crypto holdings. Powell will remain on the board during an ongoing federal investigation pending a separate Senate vote on the chairmanship.

  • What: Kevin Warsh was confirmed to the Fed Board 51–45 and is expected to face a separate chairmanship vote, pledging divestiture from most crypto and blockchain investments.
  • Why: A Fed chair with operational knowledge of Bitcoin infrastructure would materially shift the central bank's posture on stablecoin oversight and digital payment system design.

Sources: bitcoinmagazine.com, 2026-05-13; coindesk.com, 2026-05-13

Privacy Blockchains Arc, Canton, and Tempo Collectively Raise Over $1 Billion

stablecoin-infra

Arc ($222 million at $3 billion valuation), Canton (reportedly raising $300 million at $2 billion), and Tempo ($500 million at $5 billion from Stripe and Paradigm) have collectively raised over $1 billion as institutions demand confidential on-chain transaction infrastructure. The funding surge tracks the passage of clearer U.S. stablecoin regulation under the GENIUS Act.

  • What: Three privacy-focused blockchains — Arc, Canton, and Tempo — collectively raised over $1 billion, with institutional confidentiality as the core design requirement.
  • Why: Financial institutions processing sensitive collateral and settlement flows need transaction privacy guarantees that public transparent chains cannot provide, creating demand for dedicated infrastructure.

Sources: coindesk.com, 2026-05-13

Ethereum Foundation Launches ERC-7730 Clear Signing Standard to End Blind Transaction Approvals

stablecoin-infra

The Ethereum Foundation launched Clear Signing, an open standard comprising ERC-7730 (JSON descriptor for human-readable transaction display) and ERC-8176 (attestation framework for auditor verification), with Ledger and MetaMask as early adopters. The initiative directly addresses blind signing as a primary vector in institutional asset losses.

  • What: The Ethereum Foundation released ERC-7730 and ERC-8176 to replace unreadable hex transaction displays with auditor-verified human-readable descriptors across wallets.
  • Why: Institutional on-chain operations cannot scale without transaction-level auditability; this standard provides the compliance layer that wallet UX previously lacked.

Sources: thedefiant.io, 2026-05-13

Blockaid Launches Real-Time Compliance Suite Screening 500M Transactions Monthly

stablecoin-infra

Blockaid released Risk Exposure, a compliance suite for institutions comprising a Risk Screening API, Cosigner Policy Engine, and DeFi Toxicity Monitors, processing hundreds of transactions per second at sub-300ms response time and 99.99% accuracy. The product addresses the gap left as North Korean-linked actors moved $1.5 billion post-Bybit through DeFi in the 18 months following the hack.

  • What: Blockaid launched Risk Exposure, screening 500 million monthly transactions for institutional DeFi compliance with sub-300ms latency and a cosigner policy engine.
  • Why: Regulated entities require real-time compliance that tracks fund provenance continuously; static daily screening fails to catch intraday DeFi routing used in state-linked laundering.

Sources: bitcoinmagazine.com, 2026-05-13

B2BINPAY Becomes First Crypto Payment Firm with FSC Mauritius VASP License

stablecoin-infra

B2BINPAY Mauritius Ltd. obtained dual Virtual Asset Service Provider licenses from the Financial Services Commission of Mauritius, becoming the first crypto payment company to receive a VASP license there after processing over $5.1 billion in transactions supporting USDT and USDC across 10 blockchains. The licenses expand B2BINPAY's regulated jurisdictional footprint ahead of planned global licensing rounds.

  • What: B2BINPAY secured FSC Mauritius VASP licenses — the first crypto payment firm to do so — after processing $5.1 billion and supporting USDT/USDC across 10 chains.
  • Why: Mauritius's dedicated virtual asset legal framework provides a credible offshore regulatory anchor for clients requiring compliance-grade crypto payment processing outside Europe.

Sources: financemagnates.com, 2026-05-13

Paymentology Raises $175M from Apis Partners and Aspirity to Expand Cloud-Native Payments in 68 Countries

stablecoin-infra

Paymentology raised $175 million co-led by Apis Partners and Aspirity Partners, projecting 117% year-on-year revenue growth from new sales in 2025 and 65% transaction volume growth; the firm operates in 68 countries with a cloud-native real-time processing platform and plans to expand into credit, stablecoins, tokenization, and AI. The $49 trillion global payments market opportunity underpins the raise.

  • What: Paymentology raised $175 million to scale its cloud-native payment processing platform across 68 countries into stablecoins, tokenization, and AI-driven services.
  • Why: Cloud-native payment infrastructure that natively supports stablecoins and tokenized assets replaces legacy processor dependencies for digital banks and fintechs globally.

Sources: finextra.com, 2026-05-13

MiCA / TradFi-crypto Regulation

U.S. Senate Clarity Act Markup Set for May 14 with 100+ Amendments; American Bankers Association Mobilises Against Stablecoin Yields

mica-regulation

The Senate Banking Committee's markup of the Digital Asset Market Clarity Act — which codifies Bitcoin and Ethereum as legitimate assets, delineates SEC/CFTC jurisdiction, and strengthens AML requirements — faces over 100 proposed amendments, more than 40 from Senator Elizabeth Warren, with the American Bankers Association sending 8,000 letters opposing stablecoin yield provisions. The bill expanded from 278 to 309 pages in its latest draft.

  • What: The Senate Banking Committee is scheduled to mark up the 309-page Digital Asset Market Clarity Act on May 14 against 100+ amendments, with banking groups targeting stablecoin yield provisions.
  • Why: Whether stablecoin yield survives the markup determines whether on-chain yield products remain viable under U.S. law or face structural redesign to comply with a bank-deposit-like regime.

Sources: bitcoinmagazine.com, 2026-05-13; pymnts.com, 2026-05-13; coindesk.com, 2026-05-13; financemagnates.com, 2026-05-13; coindesk.com, 2026-05-13

BRCA Developer Protections at Risk: Non-Custodial Software Developers May Face Money-Transmitter Liability Without Amendment

mica-regulation

The Blockchain Regulatory Certainty Act (BRCA), championed by Senators Lummis and Wyden, exempts non-custodial software developers from money-transmitter classification but faces uncertain inclusion in the Clarity Act; without it, developers who publish non-custodial tools could face criminal prosecution under federal law. The risk parallels late-1990s internet regulation decisions that shaped U.S. tech dominance.

  • What: The BRCA would exempt non-custodial developers from money-transmitter status under the Clarity Act; its absence could expose open-source crypto developers to criminal liability.
  • Why: Developer liability risk at scale would redirect protocol and tooling development to non-U.S. jurisdictions, compounding the competitive cost of regulatory uncertainty already borne by crypto startups.

Sources: bitcoinmagazine.com, 2026-05-13

CFTC Files Amicus Brief Asserting Exclusive Federal Jurisdiction over Prediction Markets Against Ohio State Court

mica-regulation

The CFTC filed an amicus brief in the Kalshi/Ohio case arguing federal preemption over state gambling laws for CFTC-regulated prediction markets, following an earlier federal appeals court ruling affirming CFTC exclusive jurisdiction over sports-related event contracts. The CFTC has already secured a preliminary injunction against Arizona and filed suits in four additional states to establish uniform federal authority.

  • What: The CFTC filed an amicus brief in Kalshi v. Ohio defending exclusive federal jurisdiction over prediction markets, after an appeals court affirmed federal authority over sports contracts.
  • Why: If state gaming classifications survive, prediction market operators face a patchwork 50-jurisdiction compliance obligation that effectively kills national rollout.

Sources: pymnts.com, 2026-05-13

Nevada Gaming Regulator Denies Pressuring Predict 2026 Conference Relocation to New York

mica-regulation

Predict 2026 claimed it moved its conference from Las Vegas to New York due to regulatory pressure from the Nevada Gaming Control Board, which denied directing any licensee to cancel events; Nevada courts ruled in April that Kalshi's prediction markets are indistinguishable from gambling. The dispute illustrates the conflict between the CFTC's federal preemption argument and state gaming enforcement.

  • What: Nevada's Gaming Control Board denied pressuring Predict 2026 to relocate after the conference cited state regulatory pressure for its move from Las Vegas to New York.
  • Why: The relocation dispute makes tangible the operational impact of legal ambiguity: prediction market conferences are migrating to jurisdictions with federal alignment while state litigation proceeds.

Sources: coindesk.com, 2026-05-13

Crypto.com Prediction Markets Head Travis McGhee Departs Following CMO and CLO Exits

mica-regulation

Travis McGhee, Global Head of Predictions at Crypto.com who joined via the 2022 Nadex acquisition and launched the OG.com sports prediction brand, has departed — the third senior executive to leave following CMO Steven Kalifowitz and Chief Legal Officer Nick Lundgren. The exits come as Crypto.com expands its DraftKings partnership in a competitive prediction market landscape.

  • What: Travis McGhee, who built Crypto.com's prediction markets division including the OG.com brand and DraftKings partnership, has departed following two other senior-level exits.
  • Why: Sequential C-suite departures during an expansion phase signal either strategic reorientation or internal instability at a critical moment for prediction market growth.

Sources: fxnewsgroup.com, 2026-05-13

CFTC Obtains Court Order Against Former Algo Capital VP for $1.35M Misappropriation

mica-regulation

A U.S. District Court for the Southern District of Florida entered a consent order against John Fortini, former VP of Algo Capital, for misappropriating customer funds and falsely assuring withdrawal availability during fall 2022, ordering $1,347,867.56 in disgorgement and imposing permanent trading and registration bans. The remaining Algo Capital defendants face ongoing CFTC enforcement.

  • What: The CFTC obtained a consent order against Algo Capital's former VP for $1.35 million in misappropriated customer funds with permanent trading and registration bans.
  • Why: CFTC enforcement against commodity pool operators reinforces accountability for custodial obligations, particularly as the agency defends its broader jurisdiction over digital asset derivatives.

Sources: fxnewsgroup.com, 2026-05-13

AUSTRAC Identifies AI and Virtual Assets as New Money-Laundering Accelerants Before 80,000-Firm Regime Expansion

mica-regulation

Australia's AUSTRAC released a risk assessment categorising AI as a cross-cutting laundering accelerant — enabling identity fabrication and transaction structuring — and naming crypto as a primary vehicle, citing the $2 billion DPRK-linked Bybit theft in 2025 as the largest known state-linked crypto incident. The report precedes a July 1 tranche-2 expansion adding 80,000–90,000 new reporting entities including lawyers, accountants, and real estate professionals.

  • What: AUSTRAC's risk assessment classified AI as a laundering accelerant for the first time, ahead of a July 1 expansion adding up to 90,000 new regulated entities under Australia's AML-CTF Act.
  • Why: Expanding AML perimeters to non-financial professionals while simultaneously naming AI and crypto as novel vectors signals a global regulatory convergence on these asset classes as systemic compliance risks.

Sources: financemagnates.com, 2026-05-13

Paybis Secures MiCA CASP and PSD2 Payment Institution Licenses from Bank of Latvia

mica-regulation

Paybis obtained both a CASP authorization under MiCA and a Payment Institution license under PSD2 from the Bank of Latvia, joining a small group of platforms holding dual authorisation across all 27 EU member states and the EEA. The CASP license includes capital adequacy and custody governance requirements that exceed earlier national crypto registrations.

  • What: Paybis received MiCA CASP and PSD2 PI licenses from the Bank of Latvia, enabling regulated crypto and payment services across all 27 EU member states.
  • Why: Dual MiCA/PSD2 licensing creates a single-jurisdiction passporting credential that compresses the multi-country compliance burden for platforms serving EU retail and business clients.

Sources: markets.businessinsider.com, 2026-05-13

Bitcoin Suisse Secures Bermuda DABA Class F and IBA Class B Approvals for Institutional Digital Asset Management

mica-regulation

Bitcoin Suisse (International) Ltd. received a Class F license under Bermuda's Digital Asset Business Act and a Class B registration under the Investment Business Act 2003, enabling regulated digital asset management and investment advisory for professional and institutional clients with mandates fundable in BTC, stablecoins, or fiat. The approvals build on an Abu Dhabi Global Market In-Principle Approval.

  • What: Bitcoin Suisse obtained dual Bermuda regulatory approvals to provide institutional digital asset management and advisory on a non-custodial basis across currencies including BTC and stablecoins.
  • Why: Bermuda's DABA framework, established in 2018, provides the institutional credibility layer that ultra-high-net-worth and family-office mandates require before allocating to crypto wealth management.

Sources: bitcoinmagazine.com, 2026-05-13

Muinmos Appoints RegTech Founder Paul Ford as Investor and Board Advisor Amid AI-KYC Demand Surge

mica-regulation

Muinmos appointed Paul Ford — who previously founded and scaled Acin, a RegTech AI operational risk provider — as investor and board advisor as the firm reports unprecedented demand for its AI-driven KYC, KYB, client classification, and MiCA compliance agents. The platform is ISO 27001 certified and GDPR compliant.

  • What: Muinmos added RegTech veteran Paul Ford to its board as investor and advisor while experiencing a demand surge for its AI-driven MiCA compliance and KYC automation tools.
  • Why: AI-native compliance platforms that automate MiCA client onboarding requirements are becoming critical infrastructure as the regulation's full enforcement window opens across EU brokers and crypto firms.

Sources: fxnewsgroup.com, 2026-05-13

American Fintech Council Urges OCC to Adopt Risk-Calibrated Framework for GENIUS Act Stablecoin Reserves

mica-regulation

The AFC submitted a comment letter to the OCC under the GENIUS Act rulemaking, advocating for a risk-based reserve framework calibrated to issuer size and complexity, a strict high-quality liquid asset reserve requirement for timely redemption, and explicit prohibition of duplicative federal-state compliance obligations. The AFC specifically opposes regulations that would create structural barriers for smaller stablecoin innovators.

  • What: The American Fintech Council filed an OCC comment letter calling for size-calibrated stablecoin reserve rules under the GENIUS Act, opposing duplicative state-federal requirements.
  • Why: OCC's rulemaking will set the floor reserve standard for all GENIUS Act-licensed issuers; a tiered approach preserves competition while a uniform bank-equivalent standard would concentrate the market.

Sources: thefintechtimes.com, 2026-05-13

24/7 Trading

DTCC Selects Chainlink as Data Layer for Collateral AppChain; Q4 2026 Production Launch

247-trading tokenization-rwa

DTCC — which processed $4.7 quadrillion in securities transactions in 2025 — selected Chainlink's Runtime Environment as the automation layer for its Collateral AppChain, which will handle eligibility assessment, margining, and settlement on a 24/7 basis across global markets. Limited production trades are planned for July 2026 ahead of a commercial launch in October.

  • What: DTCC picked Chainlink CRE to automate its Collateral AppChain with Q4 2026 production launch, following a successful 2024 mutual fund NAV pilot.
  • Why: Automating DTCC's collateral management on a 24/7 cross-chain basis removes the intraday settlement gaps that currently impose liquidity costs on institutional counterparties.

Sources: thedefiant.io, 2026-05-13

eToro Q1 2026: Net Income +37% YoY to $82M; Commodities Drive 60% of Trading Commissions; 24/7 Trading Launched

247-trading

eToro posted its strongest quarter since going public: net income rose 37% year-on-year to $82 million, funded accounts grew 12% to 4.02 million, and commodities accounted for approximately 60% of trading commissions with volumes nearly fourfold higher year-on-year. The firm launched 24/7 access to select commodities, equities, and indices during the quarter and added Japanese equities alongside acquiring crypto wallet provider Zengo.

  • What: eToro reported Q1 2026 net income of $82 million (+37% YoY) and $109 million adjusted EBITDA (+35%) as 24/7 commodity and equity trading drove fourfold volume growth.
  • Why: eToro's 24/7 expansion directly ties extended trading hours to measurable revenue uplift, providing industry evidence for the commercial case of session-agnostic infrastructure.

Sources: leaprate.com, 2026-05-13

DriveWealth Extends Brokerage-as-a-Service to Digital Assets and Prediction Markets

247-trading broker-apis

DriveWealth is integrating digital assets and prediction markets into its brokerage-as-a-service platform alongside its existing equities infrastructure, enabling digital wallets and consumer brands to offer diversified portfolios. The firm is building APIs that allow partners to service demand for tokenized and alternative instruments without rebuilding core brokerage infrastructure.

  • What: DriveWealth is adding digital assets and prediction markets to its brokerage-as-a-service API stack, extending beyond equities for fintech and digital wallet partners.
  • Why: A single brokerage API that spans equities, crypto, and prediction markets lowers the infrastructure cost for consumer apps to offer a full multi-asset experience on one integration.

Sources: marketsmedia.com, 2026-05-13

Broker APIs

Gemini Deploys Sub-2ms Trading API on AWS Local Zones in New York City

broker-apis

Gemini extended its trading infrastructure to an AWS Local Zone in New York City, achieving sub-2ms connectivity to its matching engine and supporting end-to-end latency below 500 microseconds via WebSocket API streaming. The architecture enables high-frequency trading clients to access Gemini's order book with colocation-equivalent latency from cloud infrastructure.

  • What: Gemini deployed a cloud-native WebSocket trading API on AWS Local Zone NYC, achieving sub-2ms matching engine connectivity and under-500-microsecond end-to-end latency.
  • Why: Cloud-native sub-millisecond latency eliminates the colocation cost barrier for HFT firms entering crypto markets, broadening the institutional liquidity provider base on Gemini.

Sources: aws.amazon.com, 2026-05-13

Crossover Markets Launches CROSSx Disclosed: Institutional Digital Asset Platform with 30+ OTC Liquidity Providers

broker-apis

Crossover Markets introduced CROSSx Disclosed, enabling institutional clients to build custom liquidity pools from over 30 OTC providers including Ripple Prime and BitGo Prime, with single-digit-microsecond matching at up to 1 million orders per second and zero upfront fees or monthly minimums. The venue builds on CROSSx's existing anonymous trading infrastructure.

  • What: Crossover Markets launched CROSSx Disclosed, a configurable institutional digital asset venue aggregating 30+ OTC liquidity providers at microsecond matching speeds with no fixed costs.
  • Why: Disclosed trading on a customisable liquidity pool gives institutions pre-trade counterparty visibility that anonymous dark-pool structures cannot provide, meeting prime brokerage due-diligence requirements.

Sources: fxnewsgroup.com, 2026-05-13

Virtex Selects Gold-i as First Integration Partner, Connecting Crypto Broker OS to 35+ Exchanges and 80+ FX LPs

broker-apis

Virtex Technologies, a plug-and-play operating system for digital asset brokerages covering front-end, client management, risk, and reporting, selected Gold-i as its first integration partner, connecting the platform to Gold-i's MatrixNET with access to 35+ crypto exchanges and 80+ FX liquidity providers through a single connection. FX firms can add digital assets and vice versa without re-platforming.

  • What: Virtex integrated Gold-i's MatrixNET to give crypto broker OS clients access to 35+ exchanges and 80+ FX LPs via one connection, enabling FX-to-crypto and crypto-to-FX expansion.
  • Why: A single API bridging FX and crypto liquidity infrastructure removes the primary technical barrier to multi-asset expansion for retail brokers operating on either side of the divide.

Sources: fxnewsgroup.com, 2026-05-13

Brokeree Launches Integration API Extending Social Trading Beyond MetaTrader and cTrader

broker-apis

Brokeree Solutions released a new Integration API allowing brokers to connect their proprietary platforms to Brokeree's Social Trading infrastructure, bypassing MetaTrader and cTrader dependencies, with support for customisable copy modes, proportional risk management, and flexible fee structures. Broctagon Fintech Group is among the first adopters.

  • What: Brokeree released an API enabling any proprietary broker platform to connect to its Social Trading infrastructure, eliminating MetaTrader/cTrader dependency for copy-trading deployments.
  • Why: Platform-agnostic copy trading API access lets non-MT4/5 brokers compete on social features without a costly platform rebuild, expanding the addressable market for Brokeree's infrastructure.

Sources: tradingview.com, 2026-05-13

TradeLocker Opens Universal Demo Account via TradeLocker Hub, Creating Shared Acquisition Funnel for 60+ Brokers

broker-apis prop-trading

TradeLocker (owned by Deus X Capital) launched a free demo account with $100,000 in virtual funds accessible without a prior partner broker or prop firm sign-up, alongside a TradeLocker Hub comparison layer enabling traders to review 60+ integrated brokers and prop firms by fees and spreads. The model creates a platform-level acquisition funnel rather than firm-specific onboarding.

  • What: TradeLocker opened a universal demo account and comparison hub for its 60+ partner brokers and prop firms, creating a shared top-of-funnel acquisition layer for the network.
  • Why: A platform-level demo converts the initial trader experience from a broker-specific trial into a platform loyalty event, increasing TradeLocker's leverage over distribution relative to individual broker-demo models.

Sources: financemagnates.com, 2026-05-13

Waypoint Trading Solutions Provides Unified Infrastructure to 1,000+ Institutions Across 180 Exchanges

broker-apis

Waypoint Trading Solutions — combining Radianz global connectivity, Xpress ultra-low latency hosting, and Sentinel managed market data — serves over 1,000 financial institutions across 180 exchanges and 6,500 endpoints in 70 countries; a 2026 survey found 75% of quant trading firms faced performance issues during peak volatility. Waypoint addresses the elimination of traditional maintenance windows by the rise of 24/5 trading.

  • What: Waypoint serves 1,000+ institutions across 180 exchanges with a three-pillar unified infrastructure platform as 75% of quant firms report peak-volatility performance failures.
  • Why: As 24/5 trading eliminates maintenance windows, unified managed infrastructure that handles connectivity, latency, and market data under a single SLA reduces operational fragmentation risk.

Sources: disruptionbanking.com, 2026-05-13

Acuity Trading and WNSTN Co-Integrate Market Intelligence into AI Chatbot for Brokers

broker-apis ai-in-trading

Acuity Trading signed a co-integration deal with WNSTN to embed Acuity's Trade Intelligence, Market Intelligence, and Event Intelligence data into WNSTN's conversational chatbot and compliance module for brokers. The integration follows Acuity's investment in MarketReader and signals a strategic shift toward third-party AI distribution rather than standalone product delivery.

  • What: Acuity Trading embedded its market and event intelligence feeds into WNSTN's broker-facing AI chatbot and compliance tools via a co-integration agreement.
  • Why: Distributing market intelligence through conversational AI interfaces increases contextual relevance at the point of client interaction, improving signal-to-noise for broker clients.

Sources: financemagnates.com, 2026-05-13

Prop Trading

Tickblaze Selects Sterling OMS 360 for Real-Time Reg T and Portfolio Margin Enforcement

prop-trading

Tickblaze selected Sterling OMS 360 — the only order management system with native, real-time enforcement of Reg T and Portfolio Margin requirements across the full order lifecycle — to serve its proprietary trading clients as the industry transitions from pattern-day-trader frameworks to real-time intraday margin requirements under FINRA Rule 4210. The integration targets prevention of margin violations before orders reach the market.

  • What: Tickblaze integrated Sterling OMS 360 to provide real-time Reg T and Portfolio Margin enforcement for its prop trading clients ahead of new FINRA Rule 4210 standards.
  • Why: Real-time pre-trade margin checking is the compliance infrastructure requirement that separates retail-oriented platforms from institutionally viable prop trading ecosystems under the new FINRA regime.

Sources: leaprate.com, 2026-05-13; fxnewsgroup.com, 2026-05-13

FPFX Acquires BullRush Gamification Engine; Founder Trent Hoerr Departs

prop-trading

FPFX Technologies acquired BR Management Group LLC (parent of BullRush), gaining a gamification engine for customisable trading competitions and onboarding challenges, while BullRush founder and CEO Trent Hoerr departed with no mention in the acquisition announcement. FPFX plans to integrate the engine into its prop firm platform.

  • What: FPFX acquired BullRush's gamification engine as founder Trent Hoerr exited, giving FPFX customisable competition and onboarding challenge technology for its prop firm clients.
  • Why: Gamified onboarding reduces funded-account churn by building trader engagement before capital deployment, addressing the prop industry's dominant retention problem.

Sources: fxnewsgroup.com, 2026-05-13

Funded Academy Launches Integrated Learn-Qualify-Fund Platform with Up to $1M Allocation

prop-trading

Funded Academy launched a prop firm combining trading education with qualification challenges and funded accounts, offering a 1-Step Challenge (85% profit split, up to $100K at $55.88 entry) and a 2-Step Challenge (80% profit split, up to $200K at $1,080.99 entry), with scale-up potential to $1 million in total allocation. The model targets the gap between trading education and live funding access.

  • What: Funded Academy launched a combined education and prop trading platform with 85%/80% profit splits and a path to $1 million in funded allocation for successful traders.
  • Why: Integrating structured education into the prop challenge path reduces the time-to-funding gap and positions the firm to capture traders who churn from pure-challenge models due to inadequate preparation.

Sources: investing.com, 2026-05-13

Hola Prime Joins Propinder Network; Claims Fastest Prop Payout at 33-Minute Average

prop-trading

Hola Prime joined the Propinder network with a 30% launch discount, advertising a 33-minute-48-second average payout time and a record single payout of 3 minutes and 37 seconds; the firm operates in 175+ countries with entry fees from $39 and profit splits up to 95%. It was named "Fastest payout Prop firm" at UF Awards and iFX Expo Dubai.

  • What: Hola Prime listed on Propinder with a 33-minute average payout time, 95% profit splits, and $39 entry-level challenges across 175+ countries.
  • Why: Payout speed has become the primary competitive differentiator in retail prop trading as regulatory scrutiny on payout delays and firm solvency increases post-MyForexFunds.

Sources: fxstreet.com, 2026-05-13

AI in Trading

Symphony Launches AI Agent Studio for Financial Workflows; Cloud9 Voice Platform Enhanced

ai-in-trading

Symphony introduced AI Agent Studio, enabling financial services users to build and deploy AI agents with access to Model Context Protocols and custom LLM services, alongside Cloud9 platform enhancements including Quality of Service dashboards and Microsoft Teams integration. BlackRock and CME Group are among early ecosystem partners.

  • What: Symphony launched AI Agent Studio for financial workflow automation and upgraded Cloud9 with QoS dashboards and Teams integration, with BlackRock and CME Group as partners.
  • Why: Regulated financial firms need MCP-compliant AI agents with audit trails embedded in compliant communication platforms — Symphony's integrated offering addresses both the tooling and compliance requirements simultaneously.

Sources: marketsmedia.com, 2026-05-13

Charles Schwab to Deploy AI for Sub-$1M Wealth Clients; Launches GenAI Portfolio Insights Tool

ai-in-trading

Charles Schwab is using AI to extend dedicated relationship management services to clients with under $1 million in assets — a threshold previously required for human advisors — and launched a generative-AI product this month that delivers portfolio performance insights and market news analysis. CEO Rick Wurster described AI as a "real accelerant" for Schwab's expansion.

  • What: Schwab deployed a generative-AI portfolio insights tool and plans AI-driven relationship services for clients below the $1 million threshold previously required for human advisory access.
  • Why: Extending wealth-management-grade AI to the mass-affluent segment creates a defensible growth lane as Schwab competes with pure-digital wealth platforms that serve lower-minimum clients.

Sources: investing.com, 2026-05-13

Financial Services Firms Lead Enterprise AI Adoption: 85% Boosting Budgets, 65% Using AI for Revenue Recognition

ai-in-trading

A study of U.S. enterprise technology executives found financial services and insurance firms lead all sectors in AI adoption, with 65% using AI for revenue recognition and accounting close, 60% for credit risk scoring, and 85% planning AI budget increases in the next 12 months. Financial services achieved high adoption on 27 of 75 AI-supported tasks, versus a combined 26 for healthcare and media.

  • What: Financial services leads enterprise AI adoption with 85% of firms boosting budgets and high adoption across 27 specific finance tasks including credit risk and revenue recognition.
  • Why: Structural advantages — documented workflows, regulatory precedent for automation, and large data volumes — make financial services the sector where AI ROI is most measurable and deployable at scale.

Sources: pymnts.com, 2026-05-13

80% of Asset Managers Cite AI/ML as Top Driver of Market Data Delivery; Cloud Use Doubles to 63%

ai-in-trading

A SIX/Crisil Coalition Greenwich study finds 80% of asset managers view AI and ML as the primary drivers of market data delivery over the next two years, 65% use real-time data throughout the trading day (up from earlier), and 63% now rely on public cloud for data connectivity — double the 30% recorded in 2023. Budget increases of 1–5% for market data are expected across index, risk, regulatory, and crypto data categories.

  • What: 80% of asset managers cite AI/ML as the top market data delivery driver over two years, while cloud adoption for data connectivity doubled to 63% since 2023.
  • Why: The combination of 24/7 trading demand and AI inference requirements means real-time streaming data infrastructure has become a baseline operational requirement, not a competitive differentiator.

Sources: marketsmedia.com, 2026-05-13

AI Overload Drives 32% of Retail Traders to Quit Before 10 Trades; Personalisation Boosts Survival 75%

ai-in-trading

CPattern data cited in a Finance Magnates analysis shows 32% of retail traders make fewer than 10 trades before quitting, with cognitive overload from AI-generated signals identified as a primary driver; brokers that delivered personalised, contextualised information saw a 75% improvement in trader survivability rates. The analysis argues that more information increases churn absent curation and decision-support layers.

  • What: CPattern data shows 32% of retail traders quit before 10 trades, and brokers offering personalised AI-filtered information achieve 75% higher trader survivability rates.
  • Why: AI-generated signal abundance without contextual filtering is a retention liability for brokers; personalisation infrastructure becomes a direct P&L input through reduced churn.

Sources: financemagnates.com, 2026-05-13

Quantum Computing Threat to AI Trading: RSA/ECC Encryption Exposed to Shor's Algorithm Decryption

ai-in-trading

A KuCoin analysis details how quantum algorithms — specifically Shor's algorithm against RSA and ECC encryption — can reverse-engineer proprietary AI trading models and enable data poisoning of market signals, while quantum-enhanced poisoning attacks can manipulate classical AI execution without detection. Financial institutions running legacy encryption face potential strategy exfiltration before post-quantum cryptography standards are deployed.

  • What: Quantum computing threatens AI trading via model reverse-engineering and signal poisoning through Shor's algorithm decryption of RSA/ECC-secured trading infrastructure.
  • Why: Trading firms running proprietary ML models on legacy-encrypted infrastructure face a non-incremental transition requirement as quantum error correction milestones advance toward practical threat viability.

Sources: kucoin.com, 2026-05-13

Sources: 83 entries from corpus/daily/2026-05-13/. 59 distinct stories after dedup. Date: May 13, 2026.