USDY Yield Compounds by the Second as Hong Kong Settles 24/7 in Central Bank Money
Today’s Focus
Ondo USDY goes continuous pricing as tokenized treasury yield shifts from daily steps to per-second accrual, taking the $2.32B flagship into real-time pricing. Hong Kong’s EnsembleTX upgrades to 24/7 settlement in tokenized central bank money, with Standard Chartered opening tokenized deposits to corporates so midnight transfers settle instantly between banks. US midterm election day presses crypto stocks, with Coinbase down 23% in October as the next two years of regulatory pace hang on control of Congress.
Industry Flash
10 items
USDY Goes Continuous Pricing, Yield Accrues by the Second – Ondo’s tokenized treasury now reprices in real time across Ethereum, BNB Chain, Mantle and more, with hours of holding earning corresponding returns
EnsembleTX Upgrades to 24/7 Central Bank Money Settlement – HKMA clears interbank tokenized deposits around the clock in tokenized central bank money, with participating banks growing to 12 and industry pioneers to 20
Standard Chartered Opens Tokenized Deposits to Corporates – Hong Kong becomes the first market, targeting corporate treasuries, banks and digital asset firms, with HashKey among the first institutional clients
HKMA Adds Stablecoins to Government Debt Trial – Secondary-market trials of tokenized Exchange Fund Bills complete, with the next phase exploring regulated stablecoins as a payment rail
Taiwan Previews Stablecoin Issuance Rules – Tech firms must form joint ventures with financial institutions holding majority stakes; non-bank issuers need NT$300M minimum capital, with 40 days of public comment
Crypto Stocks Under Pressure on US Midterm Election Day – Coinbase fell 23% and Galaxy Digital 30% in October; a Democratic sweep could put Warren atop the Senate Banking Committee
Morgan Stanley Cuts Coinbase and Circle Price Targets – Coinbase cut to underweight with the target slashed from $258 to $120, Circle trimmed from $37 to $34 as banks price in weaker trading momentum
Tether Discloses ~150K BTC Holdings – Ardoino confirms the stash at PlanB Forum, over three times Metaplanet’s position, with an ~$8B excess-reserve cushion underpinning the treasury
Star Rock Tech Joins EnsembleTX as Industry Pioneer – Its FinRWA platform supports multi-currency tokenized fund distribution and delivers Hong Kong’s first unit-trust tokenized fund solution
HKMA Unveils SAGE and PQC Toolkit – A governance framework for agentic finance and a post-quantum cryptography toolkit land, while tConnect Launchpad opens applications to digital asset firms
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