USDWeekly Institutional Crypto Adoption Update: $107M Fund, DeFi, and Banking
China Asset Management Launches $107M Tokenized Money Market Fund on Ethereum
On March 3, 2025, China Asset Management, one of Asia's largest fund managers, launched a $107 million tokenized money market fund on the Ethereum blockchain, marking a significant development for retail investors in the Asia-Pacific region. This fund allows for digital buying and trading of shares, eliminating traditional paperwork and intermediaries, thereby enhancing transaction efficiency and accessibility. By leveraging Ethereum's robust capabilities in decentralized finance (DeFi), the fund can seamlessly integrate with various DeFi applications, fostering an environment for interest-bearing tools.
This initiative also signals increased legitimacy for blockchain-based financial products, as institutional investment interest in cryptocurrencies continues to rise. Comparatively, MicroStrategy's 13F filings illustrate this trend, with filings jumping from 196 in Q3-2020 to 1,051 by Q4-2024, underscoring growing institutional engagement in crypto investments. Overall, China AMC's fund represents a pivotal move in the evolving landscape of digital finance in Asia.
SBI VC Trade Launches USDC Stablecoin Service in Japan on March 12
SBI VC Trade, the cryptocurrency arm of SBI Group, is set to launch its USDC stablecoin service on March 12, 2025, becoming the first licensed stablecoin provider in Japan. The firm has secured approval from the Kanto Regional Financial Bureau to operate as an “electronic payment instrument business operator,” which adds to its existing licenses for type 1 financial instruments and cryptocurrency exchange operations. Initially, the service will be in beta, available only within the SBI Group to assess business flow before a public rollout.
The platform will allow individual and corporate clients to buy, sell, deposit, and withdraw USDC, with Shinsei Trust Bank managing security for customer deposits. Additionally, trading pairs such as BTC/USDC and ETH/USDC will be introduced, enhancing opportunities in Japan's slow-stabilizing crypto market, which has faced regulatory hurdles. This move follows SBI VC Trade's recent launch of its digital asset lending service.
BankPozitif Partners with Taurus to Launch Cryptocurrency Custody Services in Turkey
Turkish digital bank BankPozitif is set to launch cryptocurrency custody services in partnership with Swiss platform Taurus, marking its entry into the crypto space. The announcement was made on March 4, with services expected to roll out by June, initially supporting the top five cryptocurrencies by market cap: Bitcoin (BTC), Ether (ETH), Tether USD (USDT), XRP (XRP), and Solana (SOL).
BankPozitif has received a temporary crypto custody license from the Capital Markets Board of Turkey (CMB), with its subsidiary PozitifKripto also secured a service provider license. Chairman Erkan Kork highlighted that the bank will establish internal processes and rules to facilitate this service. Taurus, already collaborating with three other Turkish banks, aims to enhance Turkey's financial sector's engagement with compliant digital asset solutions. This initiative aligns with Turkey's new crypto regulations introduced in late 2024 focusing on Anti-Money Laundering and client identification.
Sygnum Bank Integrates Deribit into Custody Platform for Enhanced Security and Liquidity Access
Sygnum Bank, based in Switzerland, has expanded its off-exchange custody platform, Sygnum Protect, to integrate with Deribit, the world's largest crypto derivatives exchange. Launched in early 2024, Sygnum Protect allows institutional traders to securely store assets with a regulated bank while accessing Deribit’s liquidity through Fireblocks’ technology, which enables mirroring of assets held in custody. This integration addresses counterparty risk in crypto trading, heightened by recent cyber-attacks, by separating custody from exchange trading.
Deribit CEO Luuk Strijers emphasized the added security and transparency for institutional clients trading derivatives. Additionally, Deribit plans to expand into Hong Kong, tapping into the region's ambition to be a leading virtual asset hub, especially among family offices and asset managers, following the introduction of tailored virtual asset derivatives by Hong Kong's Securities and Futures Commission for high-net-worth investors.
Emirates NBD Launches Crypto Trading Services via Liv App in Partnership with Aquanow
Emirates NBD Bank in Dubai has launched crypto trading services through its digital subsidiary, Liv, in partnership with licensed crypto provider Aquanow. This initiative commenced on March 5, 2025, aligning with Dubai’s ambition to establish itself as a global cryptocurrency hub. Customers can buy, hold, and sell digital assets directly via the Liv X app, supplemented by custody solutions from Zodia Custody, backed by a strategic investment from Emirates NBD in late 2024.
The move is indicative of rising mainstream adoption of cryptocurrencies in the UAE, which boasts the highest crypto adoption rates in the region. Marwan Hadi, Head of Retail Banking, emphasized the bank’s commitment to innovation in response to increasing demand for digital assets. This development coincides with UAE's Vision 2030, which seeks to diversify its economy and enhance technological innovation, showcasing a proactive approach towards integrating traditional banking with cryptocurrencies.
Bitwise Partners with Maple Finance to Offer Institutional Clients DeFi Credit Investment Opportunities
Bitwise, a cryptocurrency index fund manager, has partnered with Maple Finance to facilitate its first DeFi allocation, providing institutional clients access to compliant onchain credit investment opportunities. This strategic alliance reflects a trend of institutional capital shifting towards structured, transparent, and yield-generating digital asset ventures.
Maple Finance, which has approximately $620 million in total value locked, offers both over- and under-collateralized loans backed by digital assets, managing to deliver consistent risk-adjusted yields since its inception in 2021. The protocol allows clients to choose risk profiles by segregating loan pools based on asset backing. Notably, Maple launched a "Lend + Long" product aimed at institutional investors in January 2025. Bitwise, launched in 2017, manages $12 billion in client assets and serves thousands of institutional clients, recently raising $70 million to support its push for alternative crypto ETFs.
This article has been refined and enhanced by ChatGPT.
