Weekly Update: 3rd of October
What happened between the 26th of September and the 3rd of October?
- October marks a pivotal month for altcoin ETFs with tight SEC deadlines and new listing rules aimed at accelerating approval processes. Read more
- Kraken is negotiating a 200 to 300 million dollar capital raise, potentially setting the stage for an IPO in 2026. Read more
- Visa pilots stablecoin use for international payments, aiming to free liquidity and enable faster, more efficient transactions. Read more
- Vanguard considers offering access to third-party crypto ETFs in response to growing investor demand and competitive market pressure. Read more
- SWIFT and Consensys are developing a blockchain platform to enable real-time cross-border transactions and tokenized settlement between international banks. Read more
October as “Altcoin ETF month” with pivotal SEC deadlines
October may mark a turning point for altcoin ETFs in the US as the SEC has set decision windows for Solana, XRP, Dogecoin and other tokens, giving priority to staking features and generic listing paths. Institutions are pre-positioning, with some estimates projecting inflows of five to eight billion dollars if multiple altcoin ETFs are approved.
The SEC’s adoption of generic listing standards simplifies the approval process and shortens the timeline from approximately 240 to 75 days. Still, uncertainties around in-kind redemptions and less liquid tokens remain key hurdles.
Kraken in talks for 300 million dollar injection
Kraken is negotiating a capital raise between 200 million and 300 million dollars, potentially valuing the exchange at around 20 billion dollars. This injection could strengthen Kraken’s infrastructure and strategically position the firm for a potential IPO in 2026. While the deal is not yet finalized, it reflects renewed institutional interest in key crypto infrastructure players.
Visa launches stablecoin pilot for international payments
Visa is piloting a program via Visa Direct that allows companies to prefund international payments using stablecoins instead of locking up fiat reserves. The pilot uses stablecoins like USDC and EURC as cash equivalents in the transaction process. By unlocking capital otherwise tied up in fiat, Visa aims to offer faster, more efficient and flexible cross-border payment flows. The move aligns with broader institutional trends increasingly favoring stablecoins for B2B transactions.
Vanguard considers offering crypto products
After years of resistance, Vanguard is now considering allowing clients to access third-party crypto ETFs via its brokerage platform. While the firm does not plan to launch its own crypto products, it appears open to permitting regulated funds from external providers. This potential shift comes amid rising competitive pressure and increasing demand from clients seeking crypto exposure through trusted platforms. Vanguard is world’s largest provider of Mutual funds with 11 Trillion in AUM.
Swift and Consensys developing blockchain ledger for banks
SWIFT has announced plans to develop a blockchain-based ledger platform in partnership with Consensys and international banks in response to the rise of stablecoins. The platform aims to enable 24/7 tokenized settlement and real-time cross-border transactions between banks using smart contracts and validation mechanisms. This step signals that traditional financial networks are no longer ignoring crypto technology but are actively integrating it into their infrastructure.
In other digital assets news
- Kazakhstan launches a national crypto fund, but excludes bitcoin as an underlying asset.
- Crypto.com becomes the first major exchange to receive a derivatives license from the CFTC.
- Chainlink announces collaboration with 24 banks to support oracle infrastructure, while also integrating SWIFT.
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