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Crypto

U.S. crypto \'Clarity\' bill faces last-minute hurdles as Korean financial firms step up digital asset push

A U.S. Senate vote to bring the crypto market-structure \'Clarity\' bill to the floor is increasingly likely to be delayed until next week, complicating last-stage legislation. The industry wants leaders to at least begin the cloture process before the August recess. In South Korea, financial firms are accelerating digital-asset initiatives, including exchange shareholder changes, new teams for regulatory shifts, investments in blockchain networks and participation in a central bank digital currency pilot.

Crypto

Payward, parent of Kraken, to acquire Magic Labs wallet-as-a-service business

Payward, the parent company of crypto exchange Kraken, will acquire Magic Labs’ wallet-as-a-service business. Cointelegraph reported that Payward plans to integrate Magic Labs’ non-custodial wallet technology into its enterprise platform, Payward Services. Payward Services supports crypto trading, custody, tokenised assets and fiat on- and off-ramps. Financial terms were not disclosed. The companies aim to complete the deal in the coming weeks, subject to customary closing conditions.

Crypto

Payward partners with GTN to expand tokenised stock service xStock globally

Payward, the parent company of Kraken, is partnering with fintech infrastructure firm GTN to expand its tokenised stock service xStock worldwide. The companies plan to start with tokenisation of Hong Kong stocks and then broaden to overseas markets including Britain, Europe and South Korea. The partnership will also leave open the possibility of tokenising other asset classes. GTN will provide trading execution, custody and record-keeping infrastructure across more than 90 markets.