- J.P. Morgan and Klarna advanced institutional crypto use, with Klarna raising funds in USDC to reach new regulated investors.
- ABN Amro and DZ Bank completed a blockchain-based derivatives trade, pairing smart contracts with EU MiCAR licensing.
- Hong Kong finalized bank crypto rules as Ondo expanded plans to support hundreds of tokenized stocks and ETFs globally.
Ondo Finance reported that major institutions moved forward with tokenization this week. The developments involved J.P. Morgan, Klarna, ABN Amro, DZ Bank, and the Hong Kong Monetary Authority. Each initiative occurred to expand access, set standards, and respond to rising demand for regulated digital asset infrastructure.
Institutional Trading and Stablecoin Funding
J.P. Morgan explored crypto trading for institutional clients. According to Ondo Finance, the rising interest came after changes in the U.S. regulatory environment around digital assets. The bank’s reported move focused on institutional use rather than retail access. Klarna also advanced its strategy.
The firm decided to raise funding in USDC to diversify capital sources and form links with new institutional investors. Klarna’s chief financial officer, Niclas Neglén, stated that stablecoins connect the company to investors it could not reach through traditional means. He confirmed that development continues separately from the firm’s consumer and merchant crypto efforts.
Smart Derivatives Contract and MiCAR Licensing
ABN Amro completed its first Smart Derivatives Contract using DZ Bank’s blockchain technology. DZ Bank automated settlement and collateral management for the trade. The transaction ran for 10 days and processed SEPA payments instantly with confirmations routed back to the contract.
Matthias Bergner of DZ Bank said the trade supports the goal of making the Smart Derivatives Contract a standard for OTC derivatives. ABN Amro’s Hauck Aufhäuser Digital Custody secured a MiCAR license in the EU. Yorick Naeff stated that the combination of the SDC trade and the license reflects the firm’s direction in digital infrastructure.
Hong Kong Basel Rules and Ondo Expansion
Hong Kong finalized its Basel crypto rules for banks. The guidance took a more favorable stance on certain stablecoins and permissionless blockchains compared to the Basel Committee’s strict interpretation.
The rules cover capital requirements and credit risk for banks dealing with crypto-assets. Ondo Finance said it will support hundreds of tokenized stocks and ETFs across sectors including AI, EV, tech, quantum, blue chips, commodities, and leveraged long/short products.
