The crypto market continues its rapid evolution as industry players explore the potential of blockchain technology to transform traditional financial instruments. Recently, Ondo Finance has urged the U.S. Securities and Exchange Commission (SEC) to delay approval of Nasdaq’s tokenized securities proposal due to concerns regarding transparency and fairness in access. 🎧 The company argues that a lack of information about how the Depository Trust Company (DTC) will handle blockchain-based settlement processes poses potential challenges for regulators and investors. While Ondo supports tokenization, it urges for more transparent standards and collaborative regulation before endorsing this proposed trading platform until issues with the DTC’s system are resolved. This highlights the growing concerns about regulatory clarity in digital securities as the SEC review period is underway. 🔎 Meanwhile, OpenSea is expanding its platform beyond just NFTs. The firm has announced a plan to trade a wider range of on-chain assets, including tokens, collectibles, and even physical items. This move signifies an effort to adapt to the evolving landscape of the digital asset market. 📈 And in Japan, major banks are exploring the creation of a yen-backed stablecoin for corporate settlements. Mitsubishi UFJ Financial Group (MUFG), Bank Sumitomo Mitsui Banking Corp. (SMBC), and Mizuho Bank have teamed up with MUFG’s stablecoin platform, Progmat, to facilitate faster payments and reduce transaction costs. The project is expected to be launched by the end of the year, with Mitsubishi Corp., a major multinational, leading the adoption as a way to improve internal efficiency. The initiative could pave the way for Japan’s first national-backed stablecoin network, unified under a singular framework.