Pontes vs. Private Stablecoins, RQD's $74M & Bitcoin's Fed Retreat
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(00:01:10) Governance Risk Inside Pontes
(00:01:32) RQD and Fasset Capital Surge
(00:02:33) India BRICS CBDC Proposal
(00:03:07) Bitcoin Fed Sensitivity and ETF Flows
(00:03:42) Weekly Funding and Market Signals
The week's defining story is a structural fork in global finance. The ECB has confirmed a September 2026 live launch for Pontes, its blockchain settlement bridge connecting tokenized assets to central-bank money around the clock. With sixty-one institutions in its contact group and atomic settlement at its core, Pontes represents Europe's bet that public infrastructure should anchor on-chain finance. The US is running the opposite playbook — private, regulated stablecoins as the primary payment rail, with no near-term CBDC on the roadmap. These aren't just different policies. They're different theories about who controls the financial plumbing of the next decade.
On the funding side, private capital is not waiting for regulatory clarity. RQD Clearing raised $74 million in a Bain Capital-led round to build institutional-grade digital asset custody and tokenized securities clearing across three continents. Fasset hit a $1 billion valuation on $68 million in Series C funding led by SBI, targeting stablecoin payments across 125 countries and a planned digital bank in Malaysia. Combined: $142 million in two deals, both betting on compliant infrastructure ahead of regulatory confirmation.
India's Reserve Bank is taking a CBDC interoperability proposal to the BRICS summit on September 12–13, pushing for linked digital currencies to reduce dollar dependence in cross-border trade. Technology alignment across eleven members with divergent DLT standards remains the real obstacle.
Bitcoin retreated from $81,500 to $78,200 after Fed Chair Warsh's Jackson Hole speech reinforced a restrictive policy stance — even as nine consecutive sessions of ETF inflows and over $3 billion in August spot ETF demand signalled genuine institutional appetite. The macro environment still overrides product-level demand when it shifts.
Total weekly crypto infrastructure funding: $184 million across eight deals, concentrated entirely in settlement, custody, and tokenized asset platforms.
This episode includes AI-generated content.
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