Standard Chartered has entered into a strategic partnership with crypto prime broker FalconX to bolster banking services for institutional clients in the digital asset sector. Announced on May 14, the collaboration aims to integrate Standard Chartered’s banking infrastructure and diverse currency offerings into FalconX’s platform, enhancing fiat settlement efficiency and reducing operational risks for clients such as asset managers, hedge funds, and sovereign wealth funds.

The partnership will initially launch in Singapore, with plans to expand into other regions, including Asia, the Middle East, and the United States. This move reflects Standard Chartered’s ongoing commitment to the digital asset space, following previous initiatives like launching a digital asset custody service in the United Arab Emirates and collaborating with crypto exchange OKX for crypto collateral services.

FalconX, founded in 2018 and valued at $8 billion after a 2022 funding round, serves some of the world’s largest institutional investors. The integration with Standard Chartered’s services is expected to provide FalconX’s clients with improved access to a range of fiat currencies and banking solutions, facilitating more efficient engagement in the crypto markets.
Reuters

This partnership underscores the growing convergence between traditional banking institutions and the cryptocurrency industry, as demand for institutional-grade digital asset services continues to rise.

Thailand’s Ministry of Finance is set to introduce $150 million worth of tokenized government bonds, aiming to broaden investment opportunities for retail investors. Finance Minister Pichai Chunhavajira announced the initiative on May 13, following cabinet approval. The digital investment tokens, referred to as “G-tokens,” are expected to be available within the next two months.

These tokens will be issued under the current budget borrowing plan, allowing the government to raise funds directly from the public. Unlike traditional debt instruments, G-tokens are designed to offer higher returns than standard bank deposits, though specific yields have not been disclosed.

A significant feature of the G-tokens is their accessibility; retail investors can participate with a minimum investment of just $3. This low entry point is intended to democratize access to government-backed investments, which have traditionally been limited to institutional and high-net-worth individuals.

The tokens will be tradable on licensed digital asset exchanges within Thailand, although these platforms are not accessible to non-Thai residents. This move aligns with Thailand’s broader efforts to modernize its financial infrastructure and promote inclusivity in investment opportunities.

The introduction of G-tokens reflects a growing global trend toward the tokenization of real-world assets, aiming to enhance liquidity and broaden investor participation in financial markets

Stablecoin issuer Tether has purchased 4,812.2 Bitcoin, valued at approximately $458.7 million, for Twenty One Capital, a Bitcoin investment firm it supports. The acquisition, executed at an average price of $95,319 per Bitcoin, was disclosed in a May 13 filing with the U.S. Securities and Exchange Commission.

This transaction elevates Twenty One Capital’s total Bitcoin holdings to 36,312 BTC, positioning it as the third-largest corporate holder of Bitcoin, trailing only Strategy (formerly MicroStrategy) and MARA Holdings. The firm is currently in the process of merging with Cantor Equity Partners, a Special Purpose Acquisition Company (SPAC), and will trade under the ticker symbol “XXI” upon completion.

Jack Mallers, CEO of Twenty One Capital, confirmed that the merger approval process is underway, though no specific completion date has been provided. The firm aims to reach a total of 42,000 BTC by launch, with contributions expected from Tether (23,950 BTC), SoftBank (10,500 BTC), and Bitfinex (approximately 7,000 BTC).

Tether holds a majority stake in Twenty One Capital, alongside crypto exchange Bitfinex. Cantor Fitzgerald is sponsoring the SPAC merger, providing financial advisory services and securing $585 million in funding to support the firm’s Bitcoin investments. Additionally, Japanese investment holding company SoftBank has invested $900 million into Twenty One Capital.

Twenty One Capital positions itself as a “pure play” Bitcoin investment vehicle, aiming to offer capital-efficient exposure to Bitcoin. The firm plans to prioritize Bitcoin per share as its key performance metric, diverging from traditional earnings per share metrics. This strategy is designed to appeal to investors seeking direct exposure to Bitcoin’s performance.

The SPAC merger and substantial Bitcoin acquisitions underscore a growing trend of institutional investment in cryptocurrency, reflecting increased confidence in Bitcoin as a strategic asset.