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Weekly Briefing

Exclusive: Losing the Regulatory Race, France Pushes to Shift CASP Supervision to ESMA
On Monday, the French financial supervisor (AMF) published an op-ed co-authored with its Italian and Austrian counterparts calling for the supervision of MiCA-regulated CASPs to be transferred to ESMA, the EU’s financial regulator.



Boerse Stuttgart Group Unveils Seturion, a Pan-European DLT Platform for Financial Institutions
The platform builds on technology first deployed in Switzerland, where Boerse Stuttgart’s subsidiary BX Digital — a FINMA-regulated DLT trading venue — already uses Seturion as its settlement layer.



Japanese Crypto Exchange Coincheck Acquires Aplo to Accelerate EU Expansion
On Tuesday, Coincheck, one of Japan’s largest crypto exchanges, announced the acquisition of Aplo, a Paris-based digital asset prime brokerage. The deal gives Coincheck a direct presence in the European market while providing Aplo with deeper liquidity and stronger balance sheet capacity.



Exclusive: The State of Kinexys in 2025 — Scaling Clients, Expanding Networks
Blockchain acceleration: Over the past weeks, Kinexys — J.P. Morgan’s blockchain division — has been accelerating client adoption, adding names like FedEx, clearing house Marex, and payments provider Corpay, among others. Amid these recent developments, we sat down with Zack Chestnut, Head of Business Development at Kinexys.




S&P Issues First-Ever Credit Rating for a DeFi Protocol
On August 7, S&P Global Ratings issued its first-ever credit rating for a decentralized finance (DeFi) protocol, assigning Sky Protocol — formerly MakerDAO — a B-. The assessment used S&P’s global scale, placing Sky’s risk profile alongside that of traditional lenders worldwide rather than under a bespoke DeFi framework.



TradFi Veteran Joins Tokenization Platform Centrifuge as COO: “This Feels Like the Early ETF Days”
After two decades in ETFs at firms like BlackRock and Goldman Sachs, Jürgen Blumberg has joined Centrifuge and Anemoy to help bring fund management onchain. In this interview, he explains why tokenized funds are starting with distribution, where today’s wrappers fall short, and how real transformation will come from rebuilding issuance, pricing, and liquidity at the protocol layer..




Inside the GENIUS Act: 8 Key Questions on the U.S. Stablecoin Framework
On July 17, the U.S. House passed the GENIUS Act with a supermajority of 308–122 votes. To help you cut through the noise, we’ve answered the 8 most important questions about the GENIUS Act: what it allows, who it empowers, and what comes next.




Exclusive: AllUnity CTO on the Strategy and Vision for EURAU, Europe’s Newest Stablecoin
Last week, German euro-stablecoin company AllUnity was granted an E-Money Institution (EMI) license by German regulator BaFin. Following this regulatory approval, we sat down with Peter Grosskopf, CTO/COO at AllUnity, for an interview.

