Stablecoins can move £50 million across borders in seconds, but that doesn't guarantee usable liquidity in a corporate bank account. Our £50M Treasury Test examines how stablecoins, tokenized deposits, Mastercard Move, Swift and Fnality address the gap between 24/7 settlement and fiat availability, who bears the liquidity costs, and where the commercial value lies.

Tokenized collateral is emerging as a balance-sheet optimization opportunity. Citi's latest report estimates that major financial institutions lose $346 million annually from idle collateral, with the average G-SIB managing $74 billion across 65 custody locations. From 24/7 margin management to tokenized US Treasuries supporting Asian CCPs, the report highlights how collateral mobility could reduce pre-funding requirements, unlock trapped liquidity and transform institutional

Tokenized funds dominate AUM. Tokenized equities is all about volume. And tokenized commodities are overwhelmingly a gold market.

Standard Chartered is expanding its institutional digital asset custody footprint to Singapore, its fourth major market alongside Luxembourg, Hong Kong and the UAE. The move highlights two increasingly important dimensions of institutional digital asset competition: vertical product capabilities across stablecoins, payments, tokenisation and crypto ETFs, and geographic coverage across key financial hubs.

SAP Pay is bringing USDC and EURC into corporate treasury workflows, turning stablecoins into another payment rail alongside bank transfers and real-time payments.

OKX’s latest funding round is about more than capital. With ICE, Standard Chartered, Circle and Ripple now strategically aligned with the exchange, OKX is emerging as a potentially important distribution channel for stablecoins, tokenized equities and future onchain financial products.

UK Government has now assembled the core market structure for DIGIT, its first digitally native sovereign bond. With six Joint Lead Managers, HSBC Orion as issuer DSD and LSEG B3 as investor DSD, the pilot is moving from design into execution and could become a major test of interoperable digital securities and cash settlement infrastructure.

NYSE parent ICE and OKX are preparing to launch one of the first large-scale tests of the SEC’s third-party custodial tokenization model for U.S. equities. The structure could help determine which tokenization model scales public stocks onchain the fastest.

Europe’s largest tokenized cash management startup Spiko just closed a $90M Series B at an $800M valuation.