BIS says tokenization can improve wholesale cross-border payments

Samsung's three affiliates will acquire a 4% stake in Dunamu, operator of South Korea's largest crypto exchange Upbit, for $408 million from Kakao. The deal, completing June 19, follows Kakao's $1.5 billion equity sell-off in under a month. Samsung has actively invested in crypto since launching its digital wallet in 2019, signaling major Korean conglomerate confidence in the sector despite current bearish market conditions.

BIS Project Agorá successfully demonstrated tokenized cross-border wholesale payments settling in seconds through blockchain technology. Seven central banks and 40+ institutions completed the two-year prototype, using atomically settled tokenized reserves to reduce credit and settlement risk. Real-value testing begins next, potentially transforming the $195 trillion global payment system operating today. India's banking sector could benefit from faster, cheaper international transactions.

The White House is reviewing a CFTC proposal to establish federal oversight of prediction-market platforms like Kalshi and Polymarket. Trump has backed CFTC exclusive authority over event contracts tied to elections and sports, countering state arguments that these function as illegal betting. The regulatory move signals a broader federal framework emerging after months of legal disputes over prediction markets.