Visa is making its first foray into blockchain governance by joining the Canton Network as a super validator, receiving the highest weight of 10 after its application was approved on March 23rd.
Recent developments show that financial institutions and regulators are accelerating their efforts in chain infrastructure, fund/ETF products, on-chain Derivative data, and the digital asset regulatory framework in the US.
- A visa to Canton with the Vai of a super validator, weighted 10.
- The US SEC/CFTC is signaling that a clear framework focusing on perpetual Derivative and Tokenize is imminent.
- Notable on-chain cash flow: ETH whales, Sky Treasury buying SKY, new wallet receives 50,000 ETH.
on-chain infrastructure, data, and stablecoins: from Visa to Coinbase – Chainlink
Visa joins Canton Network as a super validator; Coinbase brings Order Book and Derivative data to the blockchain via Chainlink DataLink; Solana accelerates AI agent payments using stablecoins.
Visa stated that it will collaborate with organizations to bring Canton into operation, complementing its payment, clearing, and fund management strategies, and leveraging Canton's payment layer to expand its stablecoin offerings. Canton is a privacy-focused, permissionless Layer 1 payment with backing from organizations such as BNP Paribas, Citadel Securities, Goldman Sachs, as well as Circle and Paxos.
Coinbase integrates DataLink to bring data from Coinbase International Exchange and Coinbase Derivatives Exchange onto the chain: order books, perpetual contracts, Futures Contract, and a portion of stock and commodity data. The Solana Foundation positions Solana as the internet AI agent infrastructure: it has processed 15 million on-chain AI agent payments; the stablecoin is XEM as the default tool for paying AI computing costs.
Regulations, investment products, and market signals: SEC/CFTC, Bitcoin ETFs, ETH flows.
The CFTC chairman said bringing real cryptocurrency perpetual contracts back to the US is a key innovation policy priority; the SEC chairman said innovation exemptions for Tokenize could appear in weeks.
CFTC Chairman Mike Selig said clarity on the US Cryptoasset management framework will come soon. Regarding market structure, the CLARITY Act bill reached a compromise on stablecoin yield provisions but remains Chia : sources indicate Coinbase is dissatisfied, fearing it could create unexpected barriers to stablecoin-related products/services and raising concerns about subjective standards when regulators draft rules.
Bloomberg reports that Morgan Stanley's Bitcoin spot ETF could launch at any time; the NYSE has announced listing arrangements, and the fund is expected to list on NYSE Arca under ticker symbol MSBT. on-chain: a whale withdrew 11,999 ETH ($26 million) from Coinbase for Staking ; now holds 22,618 ETH ($49 million), a profit of $1.2 million. A new wallet received 50,000 ETH from FalconX worth $108.37 million, suspected to be linked to Bitmine. Sky Treasury (SDEV) holds 2.135 billion SKY ($~$156 million), with an Medium Capital of ~$0.065; the most recent purchase involved withdrawing 184 million SKY ($~$14 million) from Coinbase Prime.
