• Bitcoin briefly traded above $64,000 early in the week before renewed geopolitical tensions pushed prices back towards $62,000.
• Ether underperformed Bitcoin, reversing part of last week’s strong recovery as investors reduced their exposure to higher-beta digital assets.
• Overall digital asset’s market capitalisation declined, surrendering a portion of the gains recorded during the previous week.
• Bitcoin continued to outperform the broader market, reflecting that investors continue to prefer larger-cap digital assets during periods of uncertainty.

Circle secures federal trust bank approval

• Circle received approval from the US Office of the Comptroller of the Currency (OCC) to establish Circle National Trust, making it one of the first major stablecoin issuers to bring key elements of its reserve management and custody infrastructure under federal banking supervision.
• The approval represents another step in the institutionalisation of stablecoins, as issuers increasingly adopt structures that align with traditional financial regulation while continuing to operate on public blockchain networks.

UK report says tokenisation could add £33bn to the economy

• The UK’s Wholesale Digital Markets Taskforce concluded that accelerating the digitisation of wholesale financial markets could contribute up to £33 billion to the UK economy over the next decade.
• The report was backed by more than 50 traditional institutions including BlackRock, JPMorgan, Morgan Stanley, HSBC and Barclays. The report also recommended expanding tokenised collateral, digital sovereign debt issuance and distributed ledger infrastructure across wholesale markets.
• The report reflects a notable shift in the dialogue around tokenisation, positioning it less as a technological initiative and more as a long-term driver of economic competitiveness for one of the world’s leading financial centres.

ESMA moves MiCA into active supervision

• The European Securities and Markets Authority (ESMA) launched its first coordinated supervisory action under the Markets in Crypto-Assets (MiCA) Regulation, focusing on the operational resilience and custody arrangements of authorised crypto asset service providers across the European Union.
• The initiative marks the next stage of Europe’s digital asset framework, shifting attention from regulatory implementation towards the ongoing supervision of firms operating within a common rulebook.

Swift expands blockchain settlement network

• Swift announced the expansion of its blockchain settlement programme, with 17 financial institutions participating, including BNY Mellon and State Street, as it develops infrastructure linking traditional financial networks with tokenised assets and digital currency.
• The expansion builds on Swift’s broader strategy to enable interoperability between existing payment rails and emerging digital asset ecosystems.
• The development reinforces the direction of travel for institutional adoption. Rather than replacing established financial infrastructure, blockchain is increasingly being integrated into it, allowing tokenised assets to move across the same networks that underpin today’s global financial system.

Gemini launches commission-free stock trading

• Gemini introduced commission-free trading for US-listed equities and exchange-traded funds, allowing eligible customers to access traditional securities alongside digital assets through a single platform.
• The launch continues a broader industry trend in which digital asset firms are evolving beyond cryptocurrency trading towards integrated investment platforms spanning multiple asset classes.

This weekly financial roundup is for informational purposes only and is not financial, investment, or legal advice. Information is taken from public sources and Nickel takes no responsibility for its veracity. The information was sourced around the time of publication but may become out of date, even over short periods of time. Consult a professional before acting.