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CBOE TO LAUNCH 24-HOUR STOCK TRADING
Traditional exchanges are seeking to expand trading hours as 24/7 onchain trading gains momentum.
Cboe Global Markets, one of the world’s largest derivatives and securities exchanges, has tipped plans to roll out 24-hour per day trading on weekdays, according to a Feb. 3 announcement.
The planned change “aims to meet growing global customer demand for expanded access to U.S. equities markets,” the exchange said. It comes as real-world asset (RWA) tokenization platforms increasingly offer a 24/7 alternative to traditional securities markets.
“We continue to hear from market participants globally – particularly those in Asia Pacific markets like Hong Kong, Japan, Korea, Singapore and Australia – that they want greater access to U.S. equities trading,” Oliver Sung, Cboe’s head of North American equities, said in a statement.
Sung said Cboe’s experience operating 24-hour exchanges in other markets means the exchange “can seamlessly support a 24×5 trading model for U.S. equities.” It plans to support 24-hour trading Monday through Friday, but not on weekends.
Cboe already offers nearly round-the-clock trading hours for certain derivatives, including S&P 500 Index options, and for its global forex markets.
Demand for extended trading hours
Other traditional US equities exchanges are also seeking to deliver round-the-clock trading for clients. In August, 24X National Exchange filed an amended application to US regulators to launch a securities exchange that could potentially bring 24/7 trading to cryptocurrency exchange-traded funds (ETFs).
In the US, spot cryptocurrency exchanges such as Coinbase operate continuously, but securities exchanges — where crypto ETFs are traded — only handle trades between 9:30 am and 4:00 pm Eastern Time.
Meanwhile, RWAs — tokens representing claims on assets such as stocks, bonds or real estate — surged in popularity after US President Donald Trump’s November election win ushered in a friendlier regulatory environment for cryptocurrencies.
Decentralized exchanges (DEXs) on blockchain networks enable 24/7 trading of RWA tokens
On Feb. 3, RWAs reached a cumulative all-time high of more than $17.1 billion across over 82,000 total asset holders, excluding the value of stablecoins, according to data from RWA.xyz.
RWAs could grow more than 50-fold by 2030, according to a Tren Financial report, which compiled predictions from financial institutions and consulting firms. They represent a $30-trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital, told Cointelegraph in an interview.
The most popular RWA funds are the tokenized money market funds Hashnote Short Duration Yield Coin (USDY), BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and Franklin OnChain US Government Money Fund (FOBXX). Tokenized money market funds collectively command more than $3 billion as of Feb. 3, according to RWA.xyz.
On Jan. 30, private equity firm Apollo Global Management said it had partnered with Securitize to launch a tokenized private credit fund.
@ Newshounds News™
Source: CoinTelegraph
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COINBASE CLO TO TESTIFY IN OPERATION CHOKEPOINT 2.0 HEARING
The first Operation Chokepoint 2.0 hearing is set to hold soon with Coinbase CLO Paul Grewal among the listed testifies
▪️Coinbase CLO to participate in Operation Chokepoint 2.0 hearing
▪️Anchorage and MARA Holdings CEO also joins the witness list
▪️Industry proponents sees the Chokepoint investigation as a major win
Paul Grewal, Coinbase Chief Legal Officer (CLO) is one of the testifiers at the forthcoming Operation Chokepoint 2.0 hearing with the Senate Banking Committee. Billed to take place later this week, Grewal will join other experts includes MARA Holdings CEO Fred Thiel in testifying against the crackdown on the crypto industry.
Operation Chokepoint 2.0 Hearing Witness List
It is worth noting that the hearing regarding the Operation Chokepoint 2.0 claims will be conducted by both the House and Senate respectively. As shared in an X post, the Coinbase CLO features in the witness list for both hearing set for February 6.
Besides Grewal, WSPN CEO Austin Campbell, Fred Thiel will participate in the House Financial Services Committee hearing. Per the update from, the lawmakers noted that more witnesses may still be added to the list.
For the Senate Banking GOP hearing, Nathan McCauley, the founder and CEO of Anchorage Digital will also take part in the hearing. In addition, Stephen Gannon from Davis Wright Tremaine LLP, Mike Ring from Old Glory Bank and Aarond Klein from the Brookings Institution will also take part.
As the Coinbase CLO noted, the lawmakers’ hearing will conduct an “oversight hearing looking into the past clandestine and undemocratic campaign to cut off crypto from banking.”
Coinbase CLO and Industry Leaders Have a Lot to Say
Just like Anchorage Digital, Coinbase also suffered from the impacts of the Operation Chokepoint 2.0. Over the past few weeks, the exchange has uncovered Letters from the US FDIC that shows the role played by the Federal Deposit Insurance Commission (FDIC) in the chokepoint agenda.
Per the content of the unredacted documents, the FDIC instructed banks to cut financial services for the crypto industry. With Paul Grewal running the legal team that got these unredacted files from FDIC in a legal battle, he might shed many insight in the hearing.
Anchorage Digital also potentially faced the Operation Chokepoint as a broad-based financial services provider in the industry. With claims of crackdown in the Bitcoin mining sector, Fred Thiel may also be an invaluable witness in the hearing.
Operation Chokepoint 2.0: Promises Kept
Prior to his election victory, President Donald Trump promised that the war on crypto will be over under his tenure. The appointed Crypto and AI Czar Davids Sacks promised to probe Chokepoint claims from industry leaders.
Also, Rep French Hill also made similar promises in December with confirmation that Reps will investigate the claims in January. Crypto proponents have celebrated the move by the current administration to check regulatory agencies’ excesses.
@ Newshounds News™
Source: CoinGape
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ONDO FINANCE LAUNCHES ONDO NEXUS TO EXPAND TOKENIZED TREASURY
Ondo Finance has introduced Ondo Nexus, a new initiative aimed at enhancing liquidity for tokenized Treasuries through expanded issuer partnerships and 24/7 redemption capabilities.
The Nexus leverages OUSG’s instant minting and redemption features to provide third-party issuers with improved liquidity for tokenized Treasuries, or “yieldcoins.”
The initiative expands OUSG’s backing to include tokenized Treasuries from Franklin Templeton, WisdomTree, Wellington Management, and Fundbridge Capital.
Additionally, Ondo Nexus integrates liquidity from existing partners like BlackRock and PayPal.
Nathan Allman, CEO of Ondo Finance, said that Ondo Nexus represents a significant advancement in tokenized Treasuries and the broader real-world asset category, emphasizing that by diversifying eligible collateral, they are developing modular infrastructure that enables shared redeemability of tokenized Treasuries to stablecoins across various products.
Ondo Finance is the only tokenized Treasury provider offering 24/7 redemptions at no cost to investors. Currently, OUSG allows redemptions against USDC, with PayPal USD expected to be added soon.
Ondo Nexus will enable seamless redemption of tokenized Treasuries from partner issuers into various stablecoins, further enhancing the asset class’s liquidity and utility.
The tokenized Treasuries sector has grown rapidly, surpassing $3 billion in total value locked in 2024. With Ondo Nexus, Ondo Finance aims to strengthen onchain financial infrastructure, bridging the gap between traditional finance and decentralized finance.
@ Newshounds News™
Source: Crypto News
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