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Crypto

SK Hynix tokenisation in focus ahead of ADR Nasdaq listing

SK Hynix’s planned Nasdaq listing of American depositary receipts is drawing attention to the possibility of tokenisation, as overseas markets see growing trading of blockchain-based tokens backed by listed shares and ETFs. SK Hynix ADRs are expected to begin trading on July 10, with issuance size set through bookbuilding. Analysts say overseas platforms could tokenise the ADRs, though rights may differ from share ownership. Regulatory approaches in the United States and South Korea remain a key variable.

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

Ripple enters top 10 in U.S. private unicorn index, alongside SpaceX and OpenAI

Ripple has entered the top 10 of the Prime Unicorn Index, which tracks U.S. private unicorn companies, ranking sixth and standing as the only cryptocurrency firm in the group. The index includes 232 companies with a combined valuation of $3.433 trillion. Ripple Labs is listed at about $26.009 billion with a 5 percent weight. The index valuation differs from Ripple’s own $50 billion figure tied to a buyback and tender offer.