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Door Remote - 15 Oct 2026
Today in crypto, Australia’s securities regulator proposed new capital, custody and trading requirements for crypto platforms ahead of a 2027 regulatory rollout; Standard Chartered pushed back its forecast for the stablecoin market to reach $2 trillion from 2028 to 2030 and Kraken parent Payward agreed to acquire a Lithuanian bank as it expands into traditional financial services.
Australia seeks feedback on crypto platform rules ahead of 2027 rolloutAustralia’s securities regulator opened consultation Thursday on proposed capital, custody and trading requirements for crypto platforms, as it prepares to implement legislation passed in April that expands oversight of the industry.
The proposals include three alternative capital models, restrictions on platforms trading for their own account and quarterly reporting of wallets holding customer assets. ASIC also proposes allowing offshore custody while seeking feedback on safeguards if an overseas parent or related company fails.
“Our proposed guidance and standards acknowledge the increasing role of digital assets and tokenization, including in traditional parts of the financial system,” said ASIC Commissioner Alan Kirkland.
The proposed guidance and standards would give crypto operators greater clarity on requirements to obtain a license, safeguard customer assets and meet financial requirements under the new framework. The consultation follows Parliament’s passage of the Corporations Amendment (Digital Assets Framework) Act earlier this year.
Standard Chartered delays $2 trillion stablecoin forecast to 2030Standard Chartered has pushed back its forecast for when the stablecoin market will hit $2 trillion from 2028 to 2030, citing slower supply growth despite rising transaction activity.
The bank previously expected to reach the milestone by 2028, but stablecoin market capitalization has stayed near $309 billion this year. Geoffrey Kendrick, its head of digital assets research, said existing stablecoins are being used more frequently, even as the amount in circulation has leveled off.
Standard Chartered identified four major stablecoin markets. Tether’s USDT dominates savings in emerging economies, while Circle’s USDC leads payments in developed markets. USDC and Ethena’s USDe are prominent in crypto trading, with USDC also leading the smaller market for transactions between artificial intelligence agents.
Competition is expected to intensify in developed-market payments, where newer issuers and banking networks are challenging established providers. Kendrick said the distribution of interest earned on stablecoin reserves could influence which companies gain market share.
Meanwhile, proposed US accounting changes could treat qualifying stablecoins as cash equivalents on corporate balance sheets, potentially encouraging broader use in business payments and settlement.
Kraken parent to buy Lithuanian Saldo Bank amid TradFi expansionPayward will buy Lithuania-based Saldo Bank as part of its expansion into traditional financial services, calling it “a deliberate next step in an infrastructure strategy we’ve been building for years.”
Payward signed a definitive agreement to acquire Saldo Finance Oy, a Finnish holding company whose subsidiary, Saldo Bank UAB, is a digital bank licensed in Lithuania, according to a Wednesday announcement.
Payward said Saldo Bank’s EU banking license and footprint will enable it to expand into four operating markets, including Lithuania, Finland, Sweden and Germany, where the bank already offers retail term deposits. The bank’s authorization is also passported into the Netherlands.
The acquisition is expected to close in 2027, subject to customary regulatory approvals. It would enable Payward Banking to offer traditional banking services, including interest on deposits, lending products and banking-as-a-service, such as card issuance, passporting and lending capabilities to small and medium enterprises.
Australia seeks feedback on crypto platform rules ahead of 2027 rolloutAustralia’s securities regulator opened consultation Thursday on proposed capital, custody and trading requirements for crypto platforms, as it prepares to implement legislation passed in April that expands oversight of the industry.
The proposals include three alternative capital models, restrictions on platforms trading for their own account and quarterly reporting of wallets holding customer assets. ASIC also proposes allowing offshore custody while seeking feedback on safeguards if an overseas parent or related company fails.
“Our proposed guidance and standards acknowledge the increasing role of digital assets and tokenization, including in traditional parts of the financial system,” said ASIC Commissioner Alan Kirkland.
The proposed guidance and standards would give crypto operators greater clarity on requirements to obtain a license, safeguard customer assets and meet financial requirements under the new framework. The consultation follows Parliament’s passage of the Corporations Amendment (Digital Assets Framework) Act earlier this year.
Standard Chartered delays $2 trillion stablecoin forecast to 2030Standard Chartered has pushed back its forecast for when the stablecoin market will hit $2 trillion from 2028 to 2030, citing slower supply growth despite rising transaction activity.
The bank previously expected to reach the milestone by 2028, but stablecoin market capitalization has stayed near $309 billion this year. Geoffrey Kendrick, its head of digital assets research, said existing stablecoins are being used more frequently, even as the amount in circulation has leveled off.
Standard Chartered identified four major stablecoin markets. Tether’s USDT dominates savings in emerging economies, while Circle’s USDC leads payments in developed markets. USDC and Ethena’s USDe are prominent in crypto trading, with USDC also leading the smaller market for transactions between artificial intelligence agents.
Competition is expected to intensify in developed-market payments, where newer issuers and banking networks are challenging established providers. Kendrick said the distribution of interest earned on stablecoin reserves could influence which companies gain market share.
Meanwhile, proposed US accounting changes could treat qualifying stablecoins as cash equivalents on corporate balance sheets, potentially encouraging broader use in business payments and settlement.
Kraken parent to buy Lithuanian Saldo Bank amid TradFi expansionPayward will buy Lithuania-based Saldo Bank as part of its expansion into traditional financial services, calling it “a deliberate next step in an infrastructure strategy we’ve been building for years.”
Payward signed a definitive agreement to acquire Saldo Finance Oy, a Finnish holding company whose subsidiary, Saldo Bank UAB, is a digital bank licensed in Lithuania, according to a Wednesday announcement.
Payward said Saldo Bank’s EU banking license and footprint will enable it to expand into four operating markets, including Lithuania, Finland, Sweden and Germany, where the bank already offers retail term deposits. The bank’s authorization is also passported into the Netherlands.
The acquisition is expected to close in 2027, subject to customary regulatory approvals. It would enable Payward Banking to offer traditional banking services, including interest on deposits, lending products and banking-as-a-service, such as card issuance, passporting and lending capabilities to small and medium enterprises.