State Street, Galaxy and Ondo join tokenized cash race with 24/7 sweep fund

Crypto exchange-traded funds (ETFs) have extended their rally, with Bitcoin leading the charge, attracting $224 million in inflows. This surge follows a period of volatility in the cryptocurrency market, where Bitcoin and Ether faced significant outflows, contrasting with the positive performance of Solana and XRP.

DYdX has launched spot trading for Solana, expanding access to U.S. users and enhancing its trading platform's offerings. This move allows users to engage in trading activities directly on the Solana blockchain, which is known for its high throughput and low transaction costs.

Jupiter is set to launch its JupUSD stablecoin next week, a move anticipated to enhance decentralized finance (DeFi) activities on the Solana blockchain. This launch is expected to drive increased adoption and innovation within the Solana ecosystem, which has been gaining traction in the cryptocurrency market.

Superstate has launched Onchain Direct Issuance Programs for SEC-registered companies, enabling them to issue tokenized shares on the Solana and Ethereum blockchains. This initiative allows for stablecoin payments and instant issuance, marking a significant advancement in blockchain-based capital raising.

Coinbase has integrated with Solana's decentralized finance (DeFi) ecosystem, allowing users to trade any Solana token through decentralized exchange (DEX) mechanisms without requiring formal listings. This move signifies a convergence between centralized finance (CeFi) and DeFi, enhancing user access to a broader range of assets.

Sky has initiated a $500 million investment campaign aimed at enhancing Real-World Assets (RWAs) on the Solana blockchain, marking a significant commitment to the growth of this cryptocurrency ecosystem. This initiative is expected to attract institutional interest and bolster the overall market presence of Solana.

Marketnode and Lion Global have introduced a gold fund that is vaulted in Singapore and operates on the Solana blockchain, marking a significant advancement in the integration of traditional assets with blockchain technology.

Bhutan has launched a gold-backed digital token on the Solana blockchain, marking a significant step in the country's adoption of cryptocurrency technology. This initiative is part of Bhutan's broader strategy to enhance its digital economy and leverage blockchain for financial innovation.