Tokenized equities are attracting growing activity outside the traditional U.S.
The market has also grown in value. The figures point to demand for access across time zones, although major products such as xStocks and Ondo Global Markets remain generally unavailable to U.S.
The framework permits qualifying Tokenized Securities Venues to conduct limited trading of tokenized U.S. Stocks through permissioned automated market makers and liquidity pools, subject to requirements covering transparency, records, technology safeguards, shareholder rights and coordination when trading must stop. The exemption is temporary and open to public feedback as regulators assess how the venues operate.
The broader crypto-business picture includes a costly shift by Bitcoin miners into artificial intelligence and high-performance computing. The deals finance different projects, but the contrast shows how borrowing terms can depend on the customer backing a facility and the likelihood that a data-center project will be completed.
Publicly traded miners were estimated to need $50 billion for planned AI infrastructure.
Strive also expanded its Bitcoin treasury by purchasing 3,311 BTC during the week ending Oct. 9 at an average price of about $84,500 per coin. The purchases lifted its holdings to 32,773 BTC.
The company amended its governing documents to set a binding $100 minimum issuance price for SATA preferred shares.
Accounting rules may also change the economics of corporate crypto holdings. A Financial Accounting Standards Board proposal would allow qualifying stablecoins to be treated as cash equivalents, but eligibility would depend on conditions including direct redemption rights with the issuer. The proposal’s comment period runs through Nov. 19, after which the board is expected to review feedback before deciding on final rules and an effective date. Coinbase has already classified USDC and other payment stablecoins as cash equivalents in its 2025 annual report, citing its redemption arrangement with Circle.