Weekly Update: 13th of March
What happened between March 6 and March 13?
- Markets move sideways; investors remain cautiously on the sidelines, fuelled by extreme oil price volatility that brings inflation concerns and delayed Fed rate cuts back to the agenda. Read more
- Wells Fargo files a trademark for WFUSD, signalling that major US banks are actively preparing for the stablecoin market. Read more
- Kraken and Nasdaq take concrete steps towards the tokenisation of equities, further blurring the lines between traditional and digital capital markets. Read more
- Mastercard launches a crypto partner program to accelerate the integration of digital assets into its global payment network. Read more
Markets move sideways: investors cautiously hold their powder dry
The crypto market is in a sideways consolidation phase. Bitcoin trades without clear direction while caution dominates investor sentiment. Institutional players appear to be waiting before taking new positions, resulting in lower trading volumes.
A key driver is extreme oil price volatility. Geopolitical tensions pushed Brent crude towards $90 per barrel, the highest level in two years. This fans inflation concerns and shifts Fed expectations: analysts now expect a rate cut no earlier than September.
There are bright spots, however. Altcoins such as Bittensor (TAO) and Hyperliquid (HYPE) showed relative recovery. ETF inflows remained positive, and Saylor’s Strategy added another $1.2 billion in bitcoin to its holdings.
Wells Fargo files trademark for WFUSD
Wells Fargo has filed a trademark application for WFUSD. While the bank has yet to announce an official product, the move sends a clear signal: major traditional financial institutions are seriously preparing for bank-issued stablecoins.
The timing is no coincidence. The US is developing a federal regulatory framework for stablecoins through the GENIUS Act. Once established, market participants expect a wave of stablecoin launches by regulated banks. By securing the trademark now, Wells Fargo positions itself for a market set to grow structurally.
The move fits a broader trend: US banks, after years on the sidelines, are now actively entering the digital asset space.
Kraken and Nasdaq advance equity tokenisation
Kraken and Nasdaq are deepening their collaboration on the tokenisation of traditional equities. The goal is to record share positions on a blockchain, making them tradeable 24/7 outside regular exchange hours. This enables fractional ownership and lowers the barrier for smaller investors.
The initiative involves tokenised securities: digital representations of existing shares with the same rights, recorded on a distributed ledger. Regulatory approval remains a key hurdle, but Nasdaq’s involvement lends the initiative considerably more credibility than earlier attempts.
If rolled out at scale, this could fundamentally blur the boundary between traditional capital markets and the crypto world, allowing crypto exchanges to offer tokenised equities alongside digital assets.
Mastercard launches crypto partner program
Mastercard has launched an official crypto partner program, giving crypto-native companies, from exchanges to wallet providers, access to its global payment infrastructure. Participants receive direct integration with the Mastercard network, allowing crypto businesses to process payments without maintaining their own banking relationships.
For Mastercard, the move is strategic: embedding crypto players within its network strengthens its position in an increasingly relevant market. For the broader crypto sector, it signals further normalisation of digital payments in everyday commerce.
The initiative follows earlier announcements on stablecoin payment support. Together, they show Mastercard positioning itself as the central infrastructure layer between the traditional and digital financial world.
In other digital assets news
- Binance is suing The Wall Street Journal for defamation following an article suggesting the exchange facilitated transactions with Iranian counterparties. Binance firmly denies the allegations.
- Kevin Warsh is being considered as a potential new Fed chair. Known for his positive stance on financial innovation and digital assets, his appointment would likely be welcomed by crypto markets.
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