Happy Friday! Welcome to the 42th instalment of the Coinbyte Weekly Wrap.

This week’s developments highlighted growing integration between digital assets, traditional finance, and mainstream industries. The NBA named Kalshi and Polymarket its preferred prediction market exchanges and signed an agreement with the CFTC to strengthen market integrity, while Anthropic filed for a proposed Nasdaq IPO, reflecting continued activity in the broader technology sector.

Stablecoin adoption and tokenisation remained key themes. HSBC launched its Hong Kong dollar-backed stablecoin through PayMe, while BlackRock, SBI Holdings and Startale explored connecting tokenised money market funds with a yen-pegged stablecoin. The SEC also added tokenisation to its fiscal 2027 examination priorities, highlighting growing regulatory attention to tokenised securities and market infrastructure.

Regulatory developments continued across major markets. South Korea is considering another delay to its planned crypto gains tax, while Coinbase is set to convert certain stablecoins held by EEA retail customers following the end of the EU’s MiCA transitional period. Meanwhile, Galaxy Research expressed a positive outlook on Bitcoin, citing sustained trading above its 50-week moving average and increased spot ETF holdings.

Overall, this week’s news reflected continued progress in institutional adoption, stablecoin payments, tokenisation and prediction markets, alongside evolving regulatory frameworks. While traditional financial institutions and mainstream organisations expand their engagement with digital asset infrastructure, regulatory compliance remains a key factor shaping how these markets develop.

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Adoption | NBA Enters the Prediction Market Game

The NBA has named Kalshi and Polymarket its preferred prediction market exchanges and signed an agreement with the U.S. Commodity Futures Trading Commission (CFTC) to share information and strengthen market integrity. The partnerships allow both platforms to use official NBA data and league intellectual property, with restrictions on permitted markets and trading by league and team personnel. link

Institution | Anthropic Moves Toward a Nasdaq IPO

Anthropic has filed an S-1 registration statement with the SEC for a proposed IPO, planning to list its Class A shares on Nasdaq under the ticker ANT. The company has yet to announce the offering size or price range, and the listing remains subject to regulatory review. link

More News

Market | Galaxy Research says now is the time to accumulate Bitcoin, citing five consecutive weekly closes above its 50-week moving average and 87,000 BTC added to spot Bitcoin ETFs since June’s low. link

Regulation | South Korea is considering a fourth delay to its planned 22% tax on crypto gains, potentially pushing implementation from January 2027 to 2029. The proposed delay aims to align with the U.S. timeline for sharing crypto transaction data under the OECD’s Crypto-Asset Reporting Framework (CARF). link

Tokenization | BlackRock has signed an MoU with Japan’s SBI Holdings and Startale to explore connecting tokenized money market funds with JPYSC, a yen-pegged stablecoin. The collaboration will examine technical infrastructure, business opportunities and regulatory requirements, with no launch timeline announced. link

Regulation | The U.S. Securities and Exchange Commission (SEC) has added tokenization to its fiscal 2027 examination priorities, focusing on risks related to clearing agencies and tokenized securities under Regulation SCI. The report highlights closer scrutiny of evolving market infrastructure, while making no direct mention of crypto assets or digital assets. link

Stablecoin | HSBC has launched its Hong Kong dollar-backed stablecoin, RedCoin (RCHKD), through its PayMe app, making it available to more than 3.3 million users for peer-to-peer transfers and payments at over 100,000 merchants. The bank also plans to expand RedCoin to tokenized investment products, including money market funds. link

Regulation | Coinbase will automatically convert 14 stablecoins, including USDT, PYUSD and DAI, held by retail customers in the European Economic Area (EEA) into USDC or another supported asset on October 30. The move follows the end of the EU’s MiCA transitional period for stablecoin issuers, restricting services for tokens whose issuers lack the required authorization. link

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