OVERVIEW

The Banks Would Like Their Cross-Border Business Back, Please 😐️

Here’s What’s Happening 👇️

Today’s top trending tickers:

NEWS
Swift's Blockchain Is A Stablecoin Defense In Disguise 🥷

Swift and 17 of the world's biggest banks are tokenizing deposits. Read past the bla bla bla ‘24/7 cross-border payments’ mumbo jumbo and the target is obvious: this is TradFi's answer to stablecoins, built to keep tokenized money inside the bank.

What Swift Shipped

• A blockchain-based ledger, live for "initial use," with 17 banks across six continents lined up to pilot - Citi, HSBC, UBS, BNP Paribas, Wells Fargo, Standard Chartered, DBS, MUFG among them. Something like $20 Trillion between all of them.

• The chain is an orchestration layer for bank-issued tokenized deposits. Money moves nights and weekends.

• Built in nine months, bolted onto a network that already moves the equivalent of world GDP every two to three days across 200-plus markets.

Why It's Really About Stablecoins

The threat the banks are answering:

• Stablecoins are close to a $300 billion market, with $USDT ( ▲ 0.01% ) and $USDC ( ▼ 0.01% ) alone holding close to 88% of it.

• They already do the thing banks couldn't - move dollars instantly, around the clock, across borders, without a correspondent chain.

• Every dollar that leaves a checking account for a yield-bearing stablecoin is a deposit the bank no longer lends against. That's the part that scares them.

A tokenized deposit is a claim on a regulated bank, still inside the compliance perimeter, but now it moves at stablecoin speed. The customer gets the 24/7 experience; the bank keeps the deposit.

JPMorgan already saw this and went solo, shipping its JPMD deposit token on Base and $CC ( ▲ 4.63% ) . Swift's play is the group version - one shared rail so the other 17 don't each have to build their own.

NEWS
Somebody Patented The Fix For Naked Shorting. It's A 35-Cent Stock With A Super Bowl Meme Coin 🤷

I bet that headline wasn’t on your bingo card. Ever.

I had to read the real press release headline more than once because it sounds like the SEC lost a bet. "Patent Targeting Naked and Excessive Short Selling." Read it twice - it's the opposite. $DVLT ( ▲ 6.04% )  got a patent to hunt naked shorting, not do it.

The USPTO allowed all 24 claims on July 1, under six months after filing.

How this all works is kind of badass. One real share, one dividend token on-chain. No share, no token. Reconcile the tokens against what brokers claim to hold, and the phantom shares fall out - undelivered, synthetic, the stuff that keeps voting in proxy contests anyway. It even reassigns a new CUSIP after each dividend to force reconciliation.

Then you check the ticker. DVLT trades near 35 cents, down about half on the year, market cap around $298 million, financial health screening "weak." Formerly WiSA Technologies, a wireless-speaker outfit that became an AI company in early 2025. And it just launched a meme coin - DREAM1, live on Biconomy since July 5.

Just a heads up though: A Notice of Allowance isn't an issued patent, but it’s a step in the right direction.

NEWS
Aave Wants to Be the Bank Behind Your Bank 🏦

I’ll say this for Aave: they know what business they're in. Stable Vaults, out today, package the yield engine already running inside Aave's own savings app and rent it to anyone building a consumer product. 

Aave earns a variable lending rate. The operator promises its users a fixed one. Whatever the strategy earns above that promise, the operator keeps. That's net interest margin - the spread between what you pay depositors and what you make on their money. The oldest trade in banking, now shipped as a backend API.

And this isn’t really anything new, it's the same production system running Aave's app, and Aave is the largest lender in DeFi, with roughly $15 billion in deposits. Chainlink handles pricing and cross-chain; Aave's own GHO stablecoin sits in the stack.

NEWS
Cosmos And Peersyst ‘Formalize’ A Partnership They Already Had 🫂

$ATOM ( ▼ 0.21% ) and Peersyst didn't start working together this week. They "formalized" a "longstanding collaboration," which is what couples say when they've lived together six years and finally told their parents.

Nothing changed except the existence of this PDF.

Peersyst becomes the go-to integrator for Cosmos systems at central banks, governments, and financial institutions across Latin America and Spain. No named central bank - just, well, a feeling. No deal size. No timeline.

The eternal CBDC pilot, forever "moving from evaluation to large-scale deployment," a phrase that has now survived three market cycles without coughing up a single contract number.

But there is one real figure. Peersyst's XRPL EVM sidechain, built on the Cosmos stack, held over $358 million in tokenized assets within six months. That's a live corridor, not a slide with a rocket emoji. And Peersyst made its name bolting smart contracts onto the XRP Ledger, so this is XRP plumbing in a Cosmos hoodie.

NEWS
Bybit Wants To Trade Your Money For You. I’m Sure It’ll Be Fine… 🙄

<insert sarcasm> Good news for anyone who finds decisions stressful! </insert sarcasm>

Bybit's new Combo Bot Hub lets you deploy an automated multi-asset strategy with a single click, no configuration, no thinking. You pick a fancy shmancy name - "Semiconductor Supply Chain," "Mega 7 Core Tech," "Solana Ecosystem" - and a bot handles allocation and rebalancing while you go do something else.

It even goes short, so you can be wrong in both directions.

There are two products. Futures Combo rebalances crypto portfolios. TradFi Combo gives you automated exposure to CFDs on stocks, gold, indices, and forex - leveraged derivatives regulators keep banning for retail, now one tap away and hands-free. The stated benefit is reducing "emotional decision-making," which is one way to describe removing the human who might otherwise hit the stop.

All of it runs on the exchange that misplaced roughly $1.5 billion to North Korea last year.

NEWS
Big Win For Plume 👍️

Give Plume this one. Its RWA vault, nBASIS, just landed inside Binance Wallet - a wallet ecosystem clearing north of $5 billion in daily volume. For a chain whose entire reason to exist is distributing real-world-asset yield, getting piped into that kind of traffic is a huge deal.

For those not in the know, nBASIS routes into two tokenized funds: Bitwise's Crypto Carry Fund, a market-neutral basis trade across BTC, ETH, SOL, and XRP futures with $225 million in AUM, and Invesco's tokenized short-duration Treasury fund north of $950 million.

Plume is the connective tissue. Every dollar routed through nBASIS now takes a shorter path from a Binance user to Bitwise's basis desk, with Plume in the middle taking the toll.

Also: $PLUME ( ▲ 3.4% ) ’s RWA TVL is up 420% on the year, led by tokenized Treasuries.

NEWS
Mantle Joins the LayerZero Exodus, Doesn't Say Why 😶

$MNT ( ▲ 3.54% ) is moving its Super Portal off $ZRO ( ▼ 4.52% ) onto $LINK ( ▲ 1.76% ) ’s CCIP, framing it as ambition with ‘the bar for securing it rises. This is us meeting it.’ What Mantle doesn't mention is what raised the bar.

In April, attackers tied to North Korea's Lazarus Group drained about $292 million from Kelp DAO's LayerZero-powered bridge. They compromised the off-chain infrastructure LayerZero itself ran, poisoning its verifier nodes and forging cross-chain messages.

Since then, clients have been leaving. Kelp moved to Chainlink CCIP. Solv Protocol pulled more than $700 million in tokenized bitcoin infrastructure off LayerZero. Super Portal transfers pause today and should resume by July 15. Funds stay put, no action needed. 

OLD NEWS
Crypto Stuff That Happened Today, But A Long Time Ago 📜

Here’s what was happening in the newsletter a year ago today:

• XLM was the main squeeze setup - Stellar jumped about 12.5%, while open interest surged 38% to $63.3M, the biggest leverage build since January.

• Funding flipped sharply negative into strength - traders were fading the breakout.

• Bitcoin made a fresh all-time high.

Here’s what was happening in the newsletter two years ago today:

• The question was breakout or fakeout - green screens were back, but the whole issue had that “summer market, don’t trust anything” stink.

• DOGE had the cleanest contrarian setup - price was near the 200-week moving average around $0.096, the 90-day cycle was coming due.

• The crime story was fully deranged - a New York woman was charged over an alleged Bitcoin-for-murder scheme involving dark web hitman payments, threats, and planning so sloppy it belonged in a training video titled “How To Get Arrested Faster.”

OLD NEWS
Other Stuff That Happened Today, But A Long Ass Time Ago ⌛️

Jul 9

1. 1357 - Charles IV laid the foundation stone for Prague’s Charles Bridge

2. 1755 - British forces got mauled at the Battle of the Monongahela, with General Braddock mortally wounded and young George Washington somehow not turned into frontier mulch

3. 1762 - Catherine the Great seized power in Russia

4. 1816 - Argentina declared independence from Spain

5. 1846 - U.S. forces took San Francisco from Mexico

6. 1850 - President Zachary Taylor died after cherries and iced milk,

7. 1868 - The 14th Amendment was ratified

8. 1877 - The first Wimbledon tournament began

9. 1900 - Queen Victoria approved Australia’s Constitution Act

10. 1943 - The Allies launched Operation Husky, invading Sicily

11. 1962 - Starfish Prime detonated a nuclear weapon in space, creating an EMP that damaged systems in Hawaii

12. 2002 - The African Union was launched in Durban

13. 2011 - South Sudan became independent

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