Finance moves on-chain.

Nasdaq embraces tokenized stocks.

Nasdaq will soon enable trading of tokenized stocks. As one of the largest exchanges in the world, this represents a significant step toward bringing finance on-chain. It’s not just a new product category but a fundamental shift in how markets operate. Moving stocks to the blockchain makes trading faster, more transparent, and more widely accessible.

Tokenized stocks enable around-the-clock markets, reduce settlement from days to minutes, and lower costs for investors. The fact that Nasdaq, the exchange with the highest global trading volume, is taking this step lends massive legitimacy to the technology. It may push other exchanges to follow suit, strengthening the bridge between traditional markets and crypto.

Solana gets its own treasury.

After Bitcoin and Ethereum, it’s now Solana’s turn. Forward Industries has launched the first Solana treasury company, raising an impressive $1.65 billion. The fund is backed by a mix of hedge funds, family offices, and institutional investors that see Solana as a strategic long-term asset. This positions Solana alongside the largest crypto assets.

The impact is substantial, as such a treasury creates immense buying pressure. Large amounts of SOL are taken off the market and locked in for the long term, increasing scarcity. Institutional investors are signaling that Solana deserves a permanent spot next to Bitcoin and Ethereum in portfolios that aim to capture the growth of the digital economy. For the token itself, this could be a powerful catalyst.

Hyperliquid breaks records.

Hyperliquid reached a remarkable milestone this week: the platform is now more profitable than Nasdaq. This achievement is especially notable considering it has only 11 employees and less than two years of operations. It highlights the efficiency of decentralized exchanges and how quickly they can scale compared to traditional players.

At the same time, competition is heating up around the issuance of USDH, Hyperliquid’s potential native stablecoin. The platform already hosts nearly 10% of all USDC, making it a central hub in the stablecoin market. Launching its own stablecoin could make the protocol even more profitable. With PayPal and Venmo also entering the bidding, it’s a strong signal that crypto protocols and traditional finance are becoming increasingly intertwined