deposit

The six major banks in Canada announced a joint exploration of a tokenized Canadian dollar deposit system, aimed at accelerating the transfer of funds between financial institutions and ultimately connecting with other digital asset programs. TD Bank announced on Tuesday that the Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Scotiabank, and Toronto-Dominion Bank Group have jointly formed this joint venture project, with the possibility of more banks joining in the future.The first phase of the project will focus on promoting the transfer of tokenized deposits among participating banks. The parties stated in a joint statement that the first phase aims to enable efficient circulation of tokenized deposits among Canadian financial institutions, with the long-term goal of connecting with other emerging digital asset programs. Tokenized deposits are digital representations of funds and assets already held by banks, differing from independent stablecoins issued by crypto companies; this system allows for 24/7 programmable payments within a regulated banking system.Canada's move comes as global banks compete to put deposits on the blockchain. In the United States, regional banks are building a shared tokenized deposit network, while JPMorgan, Citigroup, and Wells Fargo have also launched their own institutional products. Recently, Swift has begun testing cross-border payments for tokenized deposits. Additionally, the Bank of Canada, Royal Bank of Canada, and Toronto-Dominion Bank completed the Project Samara test in March this year, issuing, trading, and settling CAD 100 million (approximately USD 71 million) bonds on a distributed ledger; in May, Shopify and National Bank of Canada also supported the launch of a regulated digital Canadian dollar.

According to a Reuters report, the European Central Bank and the central banks of EU member states expressed opposition to the requirement that major stablecoin issuers hold at least 60% of their reserve assets in the form of bank deposits during the consultation on the regulatory framework for crypto assets, MiCA. The reason is that this could expose banks to fluctuations in the stablecoin market and undermine the stability of deposits.The central bank system suggested changing the regulation to require that a certain proportion of reserve assets must be short-term assets maturing within 1 to 5 working days. At the same time, the central bank pointed out that despite MiCA being in effect, non-compliant crypto companies can still reach EU customers, and regulatory enforcement faces "significant challenges," posing risks to investor protection.

According to Lookonchain monitoring, another 4 addresses that have been inactive for over 2 years deposited 48,000 ETH into Bitfinex, worth 131 million dollars.

According to CoinDesk, while Wall Street giants like JPMorgan and Citi have processed huge amounts of money through blockchain, tokenized payment services are still primarily aimed at institutional clients and licensed networks. JPMorgan's Kinexys blockchain platform has processed over $3 trillion, and Citi Token Services handles billions of dollars in cross-border payments daily, neither of which is open to regular savings users.The UK challenger bank Monument Bank is attempting to fill this gap. The bank has a balance sheet size of approximately $2.4 billion and plans to tokenize up to £250 million (about $335 million) of retail customer deposits on the privacy public chain Midnight. These deposits will still earn interest, be fully backed by the bank, can be exchanged 1:1 for pounds, and are protected by the Financial Services Compensation Scheme. The project utilizes zero-knowledge proofs to protect customer data and meet regulatory requirements, allowing users to engage without needing to understand or directly use cryptocurrencies.Mintoo Bhandari, founder of Monument Bank, stated that most tokenization projects are currently internal bank projects and have not yet truly allowed retail users to participate directly in tokenization. In the long term, the bank plans to offer fractional private equity, tokenized structured products, and Lombard loans to customers through regular banking applications under compliance, and is considering licensing related infrastructure to other banks through its subsidiary Monument Technology.

According to Lookonchain monitoring, a wallet suspected to be related to BIT (formerly Matrixport) has deposited 1,000 BTC, worth 81.06 million USD, into Binance again.

According to Arkham monitoring, the whale address bc1py deposited 1,651.82 BTC into Kraken, worth approximately 126.69 million dollars. The related BTC was withdrawn from Kraken in April this year and then transferred back to the exchange after being moved through two newly created wallets.Currently, the balance of this address has been cleared, with an expected profit of about 15.21 million dollars.

According to Lookonchain monitoring, a certain whale deposited 440,000 HYPE into FalconX, worth 36 million dollars, and then withdrew 12,250 ETH from FalconX, worth 30.12 million dollars.

According to Lookonchain monitoring, Garrett Jin withdrew 35,001 ETH from Binance, worth 85 million dollars, and deposited it into Hyperliquid.

According to monitoring by Lookonchain, BlackRock deposited 54,096 ETH (worth 131.7 million USD) and 2,015 BTC (153.8 million USD) into Coinbase Prime.

According to the official announcement, Bitget has now completed the integration of USD Coin (USDC) on the Arc network and has simultaneously opened deposit and withdrawal services.

The decentralized perpetual contract trading platform Aster posted on X that its perpetual market supports USDC as a deposit and withdrawal tool.The integration between Aster and Arc has been effective since the day it went live.

According to on-chain analysis platform Lookonchain, market maker Cumberland has continuously withdrawn 17.64 million $PONS from Gate exchange at an average price of $0.67 over the past two weeks and has recently started to sell off.In the past 5 hours, 1.5 million $PONS (approximately $877,000) have been deposited back to Gate.

According to The Block, the on-chain confidentiality protocol Zama will open deposits for 16 confidential vaults on Morpho, covering assets such as USDC, USDT, AUSD, and TGBP. Its first vault went live in June in collaboration with Morpho and Steakhouse Financial, using Steakhouse's USDC Prime strategy, with total locked assets increasing from zero to $40 million within seven weeks. Steakhouse will manage part of the vaults, while Armitage by Wintermute, Flowdesk, RockawayX, and Bitwise will also serve as managers.Users can confidentially access 12 existing non-confidential versions of Morpho vaults on Ethereum, with an additional 4 created specifically for confidential deposits. Zama also launched the Zama Swap Protocol, allowing depositors to confidentially exchange cUSDC, cUSDT, cAUSD, and cTGBP as well as confidential vault shares on Ethereum, without disclosing transaction size or intent. Zama stated that positions, balances, and strategies on public blockchains are visible to competitors and frontrunners, posing a structural barrier to large-scale deployment by institutions. The vaults will first go live through Zama's own application, with Utila, Zerion Wallet, and Yield.xyz set to integrate in the coming weeks.

According to Onchain Lens monitoring, Bitwise's BHYP ETF wallet deposited 84,320 HYPE (approximately 6.71 million USD) to Coinbase 6 hours ago, possibly for sale.

According to the Nikkei, SWIFT has launched a pilot project in collaboration with 17 banks including Citigroup, Mitsubishi UFJ, Wells Fargo, Bank of New York Mellon, UBS, and BNP Paribas to test tokenized deposit cross-border payments.The goal of this pilot is to achieve 24/7 instant transfers between different banks and reduce the cost of cross-border payments.

According to on-chain analyst Ai Yi's monitoring, the LSK project's associated address deposited 3.29 million tokens to Binance 5 hours ago, valued at 3.79 million USD; this deposit occurred after the first rapid decline of LSK (from 2 USD to 1 USD), and shortly after the deposit, a second wave of plummet occurred (from 1.22 USD to 0.7 USD), now rebounding to 1.17 USD.

According to Cryptoslate, the Securities and Exchange Commission (SEC) of Thailand has proposed a new regulation draft for stablecoins, allowing licensed crypto platforms to only permit customers to deposit or withdraw stablecoins from/to their verified accounts or wallets, prohibiting transfers to others' wallets.At the same time, a limit of 5 million Thai Baht (approximately 150,000 USD) per person per platform per day has been set. The proposal is currently in the public consultation stage, with comments due by September 25, and has not yet come into effect.

The Office of the Superintendent of Financial Institutions (OSFI) in Canada stated on Thursday that tokenized deposits are legally indistinguishable from traditional deposits, and noted that the underlying technology used in financial products or services does not determine their legal nature.OSFI indicated that financial institutions can conduct tokenized deposit business under existing financial regulatory laws without the need to establish additional regulatory provisions. Financial institutions and third parties acting on their behalf must ensure that their operations comply with applicable laws and regulations. OSFI requires financial institutions to communicate in advance with the OSFI supervisor responsible for regulation before launching new products or services, and recommends seeking legal advice prior to going live. The agency oversees nearly 350 financial institutions and 1,200 pension plans.

According to Lookonchain monitoring, Wintermute (0xf819...73AA) deposited 61,847 ETH to Binance and Coinbase in the past 3 hours, worth 160.3 million USD.

According to a statement released by the Office of the Superintendent of Financial Institutions (OSFI) in Canada, OSFI clarifies its technology-neutral stance, stating that tokenized and other digital deposits are legally indistinguishable from traditional deposits, and the underlying technology of financial products or services does not determine their legal nature.OSFI requires financial institutions to ensure that innovative activities (including activities carried out by third parties on their behalf) comply with relevant laws and regulations, and must adhere to guidelines such as B-13 Technology and Cyber Risk Management and B-10 Third Party Risk Management. Financial institutions must communicate with OSFI supervisors in advance before launching any new products or services and seek legal advice when necessary.