Converge

Decision makers' definitive information source on the intersection of DeFi and TradFi, by @DefiantNews

[Converge @ConvergeDefiant]

👀 DEEL GOES ALL IN ON STABLES WITH THE STRIPE STACK

@Deel is paying its global workforce in DLUSD, built on @Stripe's full stablecoin stack, using Bridge, @privy_io and settling on @Tempo.

That's 1.5 million contractors. 150+ countries. One custom dollar stablecoin. Argentina goes first.

Read more here:
https://t.co/RcNRrxriJo

[The Defiant @DefiantNews]

MARKETS TLDR: NOT GOOD 🥺

Bitcoin ETF outflows hit a 12-day streak with $519M in redemptions on June 2, pushing $BTC below $66K and triggering $1.86B in forced liquidations across leveraged positions.

Read more:
https://t.co/lHtxO3tSb2

[Converge @ConvergeDefiant]

RT @RealDennisO: Thank you for having me @ConvergeDefiant it was a great conversation about @ERC3643Org @AscendFi and @trex_network 🙌🙌

[Converge @ConvergeDefiant]

$80 billion in tokenized assets. 7.9 trillion in pipeline. Dennis O'Connell (@RealDennisO ) — President of the ERC-3643 Association — breaks down the permissioned token standard quietly becoming the backbone of institutional crypto.
With @Storaker on Converge, from @DefiantNews

[Converge @ConvergeDefiant]

CLARITY UPDATE

160 former national security officials—from CIA, DOJ, Treasury, FBI and military—are urging the Senate to pass the CLARITY Act as crypto market-structure negotiations resume.

Read more:
https://t.co/BJFLCwKcvY

[Converge @ConvergeDefiant]

MASTERCARD UPPING ITS STABLECOIN GAME

@Mastercard launches card-settlement network across 8 blockchains including @ethereum, @solana, @0xPolygon.

Five institutions are now live for US and Latin America stablecoin clearing with weekend/holiday cycles.

Read more here:
https://t.co/AIVUW8En7h

[Converge @ConvergeDefiant]

Crypto isn't broken. It's a coiled spring.
@perkinscr97 — incoming Head of Franklin Crypto — says the fundamentals are quietly turning while sentiment is still on the floor.

Stablecoins. Tokenized funds. Markets open 24/7. And the institutions? Only just getting started.

This is Converge — the show about the moment traditional finance and crypto stop running as separate worlds.
Episode 1 is live!
X: https://t.co/OGjqc0Tthq
YouTube: https://t.co/qOmPReJXJ8

[The Defiant @DefiantNews]

NEW: ETHENA 🤝 COINBASE

Coinbase Ventures @cbventures bought @ethena's $ENA tokens directly on the open market.

Separately, @Coinbase and Ethena partnered to "grow onchain finance and savings products."

Read more here:
https://t.co/3q2pPZOC0J

[Converge @ConvergeDefiant]

MoneyGram is now a stablecoin issuer.

Payments giant @MoneyGram launched @MGUSD on @StellarOrg with Stripe-owned Bridge minting and Fireblocks holding reserves.

Read more here:
https://t.co/VZiXDe86mv

[Converge @ConvergeDefiant]

Robinhood @RobinhoodApp closes $180M WonderFi @WonderFi acquisition, gaining 300K funded crypto customers and its first Canadian footprint via Bitbuy and Coinsquare.

Read more:
https://t.co/ERCm5rAgg4

[Converge @ConvergeDefiant]

TradFi >< Crypto

Schwab @CharlesSchwab is bringing crypto spot trading and custody to its $5.2T RIA platform by mid-2027, expanding beyond retail into the advisor channel.

Read more here:
https://t.co/nBmxaLXUkj

[Converge @ConvergeDefiant]

JUST IN:

Securitize launches Hamilton Lane's HLSCOPE tokenized credit fund on TRON, the first @Securitize issuance on a network with 383M accounts and $90B in stablecoins.

Read more here:
https://t.co/2WQXILVV5C

[Converge @ConvergeDefiant]

Also worth your attention:

⇒ @DTCC picks @StellarOrg for tokenized securities, taking DTC-custodied assets multi-chain in H1 2027

⇒ Tokenized stocks are now the fastest-growing asset class on @ethereum led by @xStocksFi and @OndoFinance

⇒ @FTI_US's tokenized Treasury AUM crosses $2.5B, up 100% YTD, third behind @BlackRock's BUIDL and @circle's USYC

⇒ @base launches an MCP Agent Gateway, letting AI agents execute swaps and manage portfolios across DeFi

Plus: the first Converge Podcast episode is live — Chris Perkins on "bad sentiment, strong fundamentals."

Full issue (subscribe to get next week's in your inbox) ↓
https://t.co/xC4x3vxMFZ

[Converge @ConvergeDefiant]

In this week's issue of the Converge Newsletter:

Big stories this week:

⇒ The @CFTC opened the regulated perpetual lane — approving @Kalshi's BTCPERP, the first US bitcoin perp cleared by formal Commission order (not self-certification), alongside a Policy Statement on perps. @coinbase got a same-day no-action letter on crypto-perp collateral.

⇒ @ICE_Markets founder Jeff Sprecher called @HyperliquidX "bigger than Nasdaq" two weeks after ICE and @CMEGroup pushed regulators to rein it in.

⇒ Payments incumbents stepped into stablecoins: @SoFi launched the first OCC-chartered national-bank stablecoin to retail, @Mastercard secured a NYDFS BitLicense, and @CashApp opened fee-free transfers in @circle's USDC across 59M MAU.

[The Defiant @DefiantNews]

🇺🇸 CFTC Approves First US-Regulated Bitcoin Perpetual Futures

👉 The agency approved @Kalshi 's BTCPERP contract, the first bitcoin perpetual on a registered U.S. exchange.

👉 In a separate action, it cleared @coinbase to route customers to its offshore Deribit affiliate.

🧠 Together, the moves open an onshore path for a product long pushed abroad and raise the competitive stakes for dominant venues such as @HyperliquidX.

Read more here:
https://t.co/Oholl6QhPr

[Converge @ConvergeDefiant]

Institutions are marching in as retail pulls back. Tokenized assets are unlocking 24/7 markets. And the fundamentals are quietly improving even while sentiment sits on the floor.

In the first episode of Converge by @DefiantNews, @perkinscr97 — incoming Head of Franklin Crypto and CEO of 250 Digital Asset Management — explains why crypto is a "coiled spring," and why the biggest risk for institutions may be waiting too long to show up.

Watch the full episode

[The Defiant @DefiantNews]

Big stablecoin news:

@SoFi just put bank-issued $SoFiD in the pockets of 14.7 million members.

First US national bank to embed a stablecoin in a consumer banking app.

More here on @ConvergeDefiant:

https://t.co/AbtiZdrb9M

[The Defiant @DefiantNews]

This is big:

@Mastercard just got a NY BitLicense, one of crypto's hardest state licenses to obtain.

The announcement signals the payments giant is serious about coming onchain.

More on @ConvergeDefiant:
https://t.co/0xB4TB5DRo

[The Defiant @DefiantNews]

Wow that 📈

$XLM is up ~7% today after @The_DTCC announced plans to connect its tokenization service to the @StellarOrg public blockchain.

DTC-custodied assets, from Russell 1000 stocks to US Treasuries, are expected to go live on Stellar in 1H 2027.

DTCC processed $4.7 quadrillion in securities transactions last year.

Full story on @ConvergeDefiant 👇

https://t.co/mis9qPVjRa

[Converge @ConvergeDefiant]

Subscribe to catch next week's issue!
https://t.co/T8r6DxjlKJ

[Converge @ConvergeDefiant]

Issue #4 of the Converge newsletter is out:

Big stories this week:
⇒ @DTCC sets July for live tokenized trades and October for full launch — Russell 1000, ETFs, and Treasuries, with Goldman, JPMorgan, BlackRock, Circle, @OndoFinance and 45+ firms in the working group
⇒ @OndoFinance, Kinexys, @Mastercard & @Ripple complete the first cross-border, cross-bank tokenized Treasury redemption — outside banking hours, settled in under 5 seconds
⇒ @WesternUnion launches USDPT on Solana — the world's largest remittance network goes on-chain
⇒ @Amazon builds AI agent payments with @Coinbase and @Stripe, putting stablecoins at the center of agentic commerce

Also worth watching:
⇒ @krakenfx parent acquires Hong Kong payments firm Reap for $600M + files for OCC federal trust charter
⇒ @Securitize gets FINRA custody approval + launches regulated trading venue with @jump_trading and @JupiterExchange
⇒ @BitwiseInvest takes over Superstate's $267M Crypto Carry Fund ⇒ Morgan Stanley E*Trade launches retail crypto for 8.6M customers
⇒ 19 European banks form Qivalis to build a MiCAR-compliant euro stablecoin on @FireblocksHQ