Search results for BNY Mellon
Crypto
Digital Asset raises $355 million led by a16z at $2 billion valuation
Digital Asset Holdings raised $355 million at a valuation of about $2 billion. The funding round was led by a16z Crypto, which invested $100 million, with participation from 7RIDGE, Abu Dhabi Investment Authority, Citadel Securities and Optiver. Digital Asset plans to use the proceeds to expand the Canton Network, which supports financial institutions in tokenising and settling securities without disclosing sensitive commercial data.
Crypto
Analyst says XRP accumulation window is closing and investors could regret it later
An analysis said institutional money and on-chain indicators for XRP are improving even as the token stays weak. Jake Claver, chairman of Digital Ascension Group, said investors could later look back and think they should have bought at current levels. He cited growth in tokenised real-world assets on the XRP Ledger, inflows to spot XRP ETFs, expanding custody and institutional infrastructure, and record concentration among large wallets.
Crypto
Morgan Stanley launches money market fund for stablecoin reserves
Morgan Stanley has launched a government money market fund designed for stablecoin issuers seeking to hold reserves. According to CoinDesk, Morgan Stanley Investment Management introduced the Stablecoin Reserve Portfolio. The fund is aimed at issuers of dollar- and other fiat-linked stablecoins that must hold assets such as dollars to back tokens in circulation. The fund, ticker MSNXX, invests only in U.S. short-term Treasuries and repurchase agreements and targets a $1 net asset value.
