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Crypto

Marex invests in Digital Prime to expand institutional crypto lending

Nasdaq-listed financial services firm Marex Group has invested an undisclosed amount in institutional crypto infrastructure company Digital Prime Technologies, Cointelegraph reported. The investment is part of Marex\'s strategy to expand its institutional digital asset business. The funding will be used to develop Toknet, a digital asset lending and borrowing platform built by Digital Prime with Equilend. Digital Prime said Toknet has secured over $1 billion in lending capacity and more than $1 billion in borrowing demand from launch partners.

Crypto

SoFi crypto trading revenue rises 10 percent; SoFiUSD supports real-time commercial payments

SoFi said its second-quarter cryptocurrency trading revenue rose 10 percent from the previous quarter. The company recorded $134.3 million in crypto trading revenue, with net revenue of $1.2 million after $133.1 million in transaction costs, up from about $850,000 in the first quarter. It also expanded stablecoin offerings, enabling commercial customers to move funds 24 hours a day using SoFiUSD through its corporate banking platform.

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.