The biggest bank in the United States now issues fund shares on Solana. On October 22 J.P. Morgan Asset Management, which runs $4.8 trillion, made its two tokenized money market funds available on Solana to qualified U.S. investors. Four smaller items crossed the wires the same week: Chainlink signed with the company building Korea’s central bank token pilot, Bitmine pushed its ether pile past 6 million, Bybit got a full exchange licence in Dubai, and Switzerland approved a bitcoin ETF that its sponsor calls the first of its kind in Europe.

Kalshi and BitGo announced on October 22 that some Kalshi clients can now pledge Bitcoin, Ether or GENIUS Act-compliant stablecoins as collateral for loans that fund margin on Kalshi’s perpetual futures. The trader keeps the coins. The loan pays the margin. That’s the whole pitch, and it’s aimed squarely at money now trading perps offshore.

The structure has three parties. The client borrows. Kalshi Katalyst, a lending affiliate of Kalshi Prime, makes the loan. BitGo Bank & Trust holds the pledged crypto in custody. Kalshi Prime is the company’s US-registered futures commission merchant, so the margin lands with a regulated broker instead of an offshore exchange’s internal ledger. Kalshi says more custodians will follow BitGo.

SoFi Bank launched SoFi Earn, a tokenized deposit with the ticker SOFIE, on October 22. Each token is one dollar on deposit at SoFi Bank, a nationally chartered US bank. It pays 4.40% APY and carries FDIC insurance up to the usual limits. SoFi calls it the first tokenized deposit issued to consumers by a national bank. Nobody has offered a better-documented claim, so the label stands for now.

The interesting part is what SOFIE can turn into. Holders can swap it one for one into SoFiUSD, the stablecoin SoFi Bank issues on Ethereum and Solana. From there the money can buy crypto inside the SoFi app or move over blockchain rails at any hour. So the same dollar can sit as an insured, interest-paying deposit and become a stablecoin when it needs to travel.

About 112 million American adults say they’d be more likely to use a bank that offers crypto. That’s 42% of the adult population, according to the 2026 Crypto at the Bank report from the National Cryptocurrency Association, a Ripple-funded nonprofit. The Harris Poll ran the survey for it with 2,017 US adults.

The headline number is big. The more interesting one is smaller and sits right next to it.

64% of Americans, roughly 168 million people, say nobody at their bank, credit union or advisor’s office has ever brought crypto up with them. Another 43% don’t know whether their bank offers any crypto services at all. So the demand exists, and the conversation mostly doesn’t.

OpenWorld is positioning its proposed acquisition of Blocksight as the operational foundation for a broader push into real-world asset tokenization, connecting AI-driven investment administration with planned financing programs in intellectual property, energy and distributed computing. The Nasdaq-listed company, trading under OPNW, announced that it has signed a definitive merger agreement to acquire Blocksight Holdings Co., following an initial acquisition announcement on October 1, 2026. Upon completion, Blocksight’s agents are expected to become part of OpenWorld Enterprise, the platform through which OpenWorld intends to structure, administer and report on tokenized financing programs.

Visa has moved the first of its Visa Direct stablecoin pilots into commercial use. The October 15 announcement lets eligible businesses prefund their cross-border payouts with USDC in near real time, instead of waiting on bank funding windows. Inyo Global, a Visa Direct processor, is the first company running it live.

The headline says pilots, plural. The detail is narrower.

What actually went live

Visa ran two stablecoin pilots on Visa Direct in 2025. The first, unveiled at Sibos in September, let businesses fund Visa Direct with stablecoins; Visa treated those balances as cash on account and paid out in local currency. The second came two months later at Web Summit in Lisbon and sent payouts straight into recipients’ stablecoin wallets, pitched at creators, freelancers and gig workers.

The GENIUS Act goes live on January 18, 2027, at the latest. The law sets its own effective date as the earlier of that day or 120 days after regulators finish the implementing rules. With three months to go, not one of those rules is final. Issuers, banks and exchanges are getting a hard start date and a rulebook that is still in draft.

The statute gave regulators a year from its July 2025 signing to write the regulations. That deadline lapsed in July. What exists now is a stack of proposals from five agencies, with comment periods that close weeks before the law starts to bite.

Spiko has raised $90 million in a Series B led by NEA (New Enterprise Associates). The Paris company runs regulated money market funds whose shareholder register lives on public blockchains, and it now manages $2.7 billion in them, more than five times what it had a year ago. Most of that money arrived in the last twelve months.

Index Ventures, which led the Series A, came back for more. Bpifrance, Speedinvest, White Star Capital, Flourish Ventures and Wintermute Ventures are in the round as well, along with an angel whose name carries weight in Frankfurt and Zurich: Axel Weber, the former Bundesbank president who went on to chair UBS for ten years. Spiko has raised about $120 million since it was founded in 2023.

Circle Foundation announced two grants on September 25. One goes to the UN Development Programme, the other to the World Food Programme, and both aim to move stablecoin payments out of pilot projects and into the regular business of delivering aid. The foundation is funded by Circle Internet Group’s 1% equity pledge and is run as a donor-advised fund at Fidelity Charitable. Neither grant comes with a published dollar figure.

The most useful detail in the Bitget breach is what the attacker did in the first six minutes. Unauthorized transfers began at 18:31 UTC on September 24 with a 0.84 ETH test from a wallet labelled Bitget 6. Within minutes, the USDT, USDC and Tether Gold in the haul were being swapped into ether on Uniswap at prices up to 5% above spot. A thief holding roughly $67M of dollar tokens and $12.8M of tokenized gold accepted up to about $4M of slippage to avoid holding any of it for an hour. Those assets can be frozen by their issuers. Ether can’t. By the time the last transfer landed at 21:23 UTC, about 24,590 ETH sat in three previously unused wallets, and the total loss was confirmed at $351.6M.