Schlagwort: crypto business

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UK Finance launches pilot for tokenised sterling deposits

  • UK Finance launches GBTD pilot with six banks to test tokenised sterling deposits until 2026.
  • Quant Network to power digital pound pilot, exploring payments, remortgaging and bond settlement.
  • FCA readies crypto rules by 2026 as UK tests tokenised deposits for safer, efficient transactions.

UK Finance has launched a pilot programme for tokenised sterling deposits (GBTD), marking a step towards digital innovation in traditional banking.

The initiative, announced on Friday, is being developed with six major banks—Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide and Santander—and will run until mid-2026.

The pilot will test how tokenised deposits can modernise payments, reduce fraud, and improve settlement processes, while also aligning with the country’s wider push to regulate crypto-assets by 2026.

Six banks test digital pound deposits

The GBTD pilot is designed to create a digital representation of commercial bank money in pound sterling.

By joining forces with the six banks, UK Finance aims to measure how tokenised deposits can enhance efficiency for customers, businesses and the wider UK economy.

The initiative is expected to support safer transactions, streamline settlement systems, and give consumers greater control over payments.

Quant Network, a UK-based blockchain interoperability company, will provide the underlying infrastructure for the project.

The firm previously supported the Regulated Liability Network (RLN), a shared ledger-based financial market framework tested in 2024 with the same banks and additional institutions such as Citi, Mastercard, Standard Chartered, Virgin Money and Visa.

Quant Network to build infrastructure

Quant’s involvement will enable the GBTD pilot to test use cases across three areas—online marketplace payments, remortgaging processes and wholesale bond settlement.

The company said the project goes beyond payments, introducing programmable money that can alter how value is managed.

The technology aims to offer efficiency gains and new settlement models that could support both retail and wholesale financial activity.

The project builds directly on RLN’s earlier success, which created a regulated environment for testing distributed ledger technology in traditional banking.

By applying the lessons from that initiative, the GBTD pilot is expected to generate more practical outcomes that could be adopted at scale in the coming years.

Pilot linked with upcoming regulations

The launch comes as the Financial Conduct Authority (FCA) finalises a regulatory regime for crypto-assets, with implementation targeted for 2026.

In April 2025, the Treasury published a policy note clarifying how qualifying stablecoins and tokenised deposits will differ from electronic money.

The FCA has accelerated crypto approvals after criticism, preparing the ground for a more structured framework.

Meanwhile, the European Union has already brought its Markets in Crypto-Assets (MiCA) regulation into effect, covering many aspects of tokenisation.

However, tokenised deposits remain outside MiCA’s remit because they continue to fall under traditional deposit and banking rules.

This regulatory distinction highlights the UK’s efforts to create a clear path for tokenised commercial bank money as part of its broader financial innovation strategy.

What the project aims to achieve

The pilot is expected to run for at least 18 months, with results shaping future policy decisions.

By testing tokenised deposits in real-world scenarios, UK Finance and its partners want to understand how they can fit within regulated banking systems.

The project is positioned as an experiment in bringing distributed ledger technology into mainstream financial services without displacing existing banking structures.

The post UK Finance launches pilot for tokenised sterling deposits appeared first on CoinJournal.

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YouTube star Mr Beast scoops $900K worth of ASTER in a 3-day buying spree

  • Mr Beast bought 538,384 ASTER tokens in the past three days.
  • He accumulated the dip, purchasing at $1.87 average price.
  • Aster DEX resolved a technical trading issue today and compensated affected users in USDT.

Experienced market players are taking the current market downturn as a chance to buy at lower prices.

On-chain data shows popular YouTuber Mr Beast purchased 538,384 ASTER coins in the past three days.

The star had deposited $1 million in USDT using two wallets, withdrawing tokens worth approximately $990,000.

Details show Mr Beast executed his transaction when ASTER traded at around $1.87 per coin, indicating what many consider a smart “dip buying strategy.

Aster has gained traction lately as perpetual decentralized exchanges dominate trends that Hyperliquid began weeks ago.

Native ASTER has been on steroids this week, soaring continuously from $0.10 on September 17 to all-time highs above $2.4 as of September 24.

However, it has lost the upward steam due to broader market bearishness and profit booking.

ASTER is trading at $1.88 after losing more than 10% of its value within the last 24 hours.

Despite the downside, massive whale actions signal confidence in solid rebounds.

Mr Beast’s bet on Aster has triggered optimism among enthusiasts who anticipate significant growth as the altcoin gains visibility.

One X user commented:

Celebrity entries like this tend to draw mainstream attention, interesting to see how retail sentiment reacts around ASTER after Mr Beast’s move.

Aster DEX sparks debates with swift issue resolution

Mr Beast’s purchase news emerged as the decentralized exchange faced a technical challenge early today.

The team reported abnormal price actions on the XPL trading pair, which liquidated some users.

Meanwhile, the DEX reacted swiftly, solving the issue and reimbursing affected users.

Individuals received compensation in USDT, covering all losses, including liquidation and trading fees.

The official announcement declared:

Compensation for the XPL perp incident has now been fully distributed. All affected users have received reimbursement directly in USDT to their accounts.

The DEX emphasized transparency during the recovery process and urged users with concerns to reach out to the support through Discord.

The prompt action won traders as it reinforced trust in Aster’s ability to safeguard users and ensure transparency during downtimes.

ASTER Price action

The native token trades at $1.88 after dropping over 10% in the previous 24 hours.

ASTER mirror prevailing broader declines, which escalated after the latest USD GDP data revision.

Nevertheless, experts believe the current bearish performance won’t last, forecasting swift rebounds as October approaches.

Investor and analyst @Eljaboom says ASTER is about to explode to $3 as it completes its correction phase.

That would translate to an approximately 60% gain from the market price.

Besides endorsement from Binance’s CZ, Aster gains traction as it taps a unique niche, which looks to dominate the upcoming bull run.

Perpetual DEXs are attracting attention as they blend DeFi’s transparency and self-custody with CEX-like speed, liquidity, and performance.

The post YouTube star Mr Beast scoops $900K worth of ASTER in a 3-day buying spree appeared first on CoinJournal.

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Dogecoin price prediction: DOGE bulls hold the $0.2 support level

Key takeaways

  • DOGE is one of the worst performers in the top 10 this week, down 17% in the last seven days.
  • The bulls are defending the $0.20 psychological level amid a strong bearish price action.

DOGE down 17% this week

The cryptocurrency market has been extremely bearish this week, with Bitcoin dropping below the $110k mark on Thursday. Ether is also trading below $4k, while XRP is holding the $2.7 support level.

However, memecoins usually take the biggest hit. DOGE, the leading memecoin by market cap, is down 17% since the start of the week, making it the second-worst performer in the top 10, only behind Solana.

The bearish performance has seen DOGE’s price slip to the $0.225 level. If the bearish trend continues, DOGE risks dropping below the $0.20 level for the first time since August 6th.

$0.20 in focus as bearish sentiment grows stronger

The DOGE/USD 4-hour chart is bearish and inefficient as Dogecoin has lost 17% of its value since the start of the week. The coin could undergo further correction as Bitcoin and other major coins are in the red.

The RSI of 34 is below the neutral 50, indicating that DOGE is currently under heavy selling pressure. The MACD lines also flipped into the negative zone over the weekend, suggesting a strong bearish bias.

DOGE/USD 4H Chart

If the sell-off continues, DOGE could drop below the $0.20 support level for the first time this month. An extended bearish run would bring the Daily Inducement Liquidity (ILQ) at $0.189 into focus. 

However, if the bulls regain control of the market, DOGE could rally towards the first resistance level at $0.25. Surpassing the 4H ILQ at $0.25 would allow DOGE to surge towards the TLQ and major resistance level at $0.288. 

The market sentiment is currently bearish. The PCE data to be published later today could give traders an indication of the Fed’s move in its next policy meeting.

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Chainlink price forecast: analysts hint at a possible breakout

  • Chainlink (LINK) hovers near $22 with $21.30–$21.40 as key support.
  • Analysts see $26 short-term and $31 long-term if resistance breaks.
  • Strong $839M trading volume shows steady market participation.

Chainlink (LINK), currently trading around $21.77, has faced notable resistance near $22, prompting technical analysts to assess whether LINK can regain upward momentum and challenge higher price levels.

Notably, despite recent declines, market participation remains robust, underscoring the resilience of the cryptocurrency amid broader market volatility.

Chainlink (LINK) price testing key levels

In the short term, Chainlink (LINK) has been hovering between $21.30 and $21.40, forming an important support zone that traders are watching closely.

A rejection at the $22 pivot could push the price down toward the $20 support area, which remains a critical demand level.

Analysts note that sustaining strength above this range is essential for bulls seeking to regain momentum.

The asset briefly spiked above $21.80 in recent sessions but was met with selling pressure that pushed it back below the key resistance, reflecting the cautious sentiment of traders.

The trading volume has remained strong at approximately $839 million, suggesting that market interest is still active and not limited to thin liquidity.

This level of activity indicates that participants are ready to act on significant moves, which could set the stage for a decisive breakout if buying pressure increases.

Triangle pattern sparks optimism

Analyst Ali Martinez has highlighted a triangle pattern on Chainlink’s weekly chart, which lies between a symmetrical and ascending formation.

The pattern shows converging trendlines, with the upper boundary acting as resistance and the lower trendline offering support.

Martinez suggests that a dip to $16 would create a favourable buying opportunity, pointing to this level as the 0.5 Fibonacci retracement mark.

Should the asset rebound from this support, a breakout from the triangle could push Chainlink toward a target of nearly $100, according to the 1.272 Fibonacci extension.

While the triangle pattern does not fit neatly into classic technical categories, it represents a period of consolidation that could precede a significant price movement.

Another analyst, Crypto Monkey, emphasised that a confirmed breakout above the $22 resistance level may open the path toward $26, while a failure to hold support could lead to a pullback.

These observations highlight the importance of short-term price action in shaping the asset’s trajectory.

Long-term resistance and potential

Beyond immediate trading levels, Chainlink faces a long-term red diagonal resistance that has blocked multiple upward attempts since the 2021 peak.

Analyst MarketMaestro noted that overcoming this barrier is critical for sustaining a bullish trajectory, with $31 remaining the next major long-term target.

Holding above intermediate supports such as $17, $21, and $25 is essential to prevent deeper retracements and to maintain the conditions necessary for another rally.

Despite these technical challenges, LINK’s fundamentals remain strong, supported by growing enterprise partnerships and increasing adoption across blockchain applications.

The combination of solid market interest, strategic technical levels, and a potential breakout pattern makes Chainlink (LINK) a focal point for both conservative investors seeking stability and technical traders looking for high-probability setups.

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Bitwise seeks SEC approval for first-ever Hyperliquid (HYPE) ETF

  • Bitwise has submitted S1 for an ETF tracking HYPE.
  • It would be the first ETF tied to a perp DEX token.
  • Approval could see Hyperliquid exploding to new highs.

$15B asset manager Bitwise seems prepared for the next chapter of digital finance.

The company has filed with the US Securities & Exchange Commission for an exchange-traded fund (ETF) tracking Hyperliquid’s native coin, HYPE.

The S-1 application gained traction as a HYPE ETF would be the first of its kind, offering market players regulated access to a perpetual decentralized exchange token.

That signals the growing influence of DeFi and increasing pressure on Wall Street to expand cryptocurrency offerings beyond the top Bitcoin and Ethereum.

Understanding Hyperliquid

Hyperliquid is a decentralized platform designed specifically for DeFi undertakings.

While traditional blockchains often incorporate multiple use cases, Hyperliquid zeroes in on perpetual futures (perps) trading – a derivatives product that’s gaining remarkable attention in the cryptocurrency markets.

Notably, perps allow traders to speculate on future prices of assets without expiry dates.

That has made them attractive to institutions and experienced traders seeking heightened liquidity and flexibility.

Most importantly, Hyperliquid boasts a high-frequency infrastructure that handles the market with speed and efficiency.

This has seen the DEX create a sought-after niche in the blockchain industry.

Bitwise’s HYPE ETF application reflects confidence in the broader cryptography technology and Hyperliquid’s role in the future of decentralized finance (DeFi).

A exchange-traded fund approval would be a game-changer for US investors and the DEX.

Hyperliquid might boom to levels that the BitMEX co-founder predicted as institutional players join.

Pension funds, retail broker accounts, and hedge funds will have a regulated exposure to HYPE via a familiar product: the ETF.

Americans will gain frictionless access to a high-frequency decentralized asset, something that has been somewhat intimidating for non-crypto-native investors.

Everyday investors can use brokerage apps to buy into the altcoin’s exposure without the hurdles of creating wallets and exploring DEXs.

Challenges ahead

While the application stirred optimism, approval remains far from guaranteed.

The US SEC has taken a cautious approach to cryptocurrency ETFs, often citing concerns like investor protection, liquidity, and market manipulation.

Furthermore, Bitwise’s filing comes as the regulator delays its decision on multiple altcoin exchange-traded funds, including Pengu, Avalanche, and Sei.

Moreover, questions linger whether the SEC can endorse an ETF of an asset with a primary utility linked to high-risk perpetual trading.

The regulator will likely prioritize balancing investor safety and innovation when reviewing the application.

HYPE price action

The alt lost 0.2% in the past day to hover at $42.43.

HYPE has declined from its mid-September all-time highs of $58.

Meanwhile, its current outlook mirrors ongoing broader market declines.

Cryptocurrencies extended their downside yesterday after the US revised GDP data.

Bitcoin trades below $110,000 as cryptocurrencies follow September’s history of bearish performance.

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