Ndax Weekly TL;DR June 1

Central banks test tokenized deposits for cross-border payments

• The Bank for International Settlements said last week that Project Agorá confirmed the testing of a prototype for wholesale cross-border payments. The testing leveraged tokenized central bank reserves and tokenized commercial bank deposits. The project involves major central banks and more than 40 private-sector financial institutions. The next phase is expected to include real-value transaction testing. (BIS)
• Why it matters: Project Agorá shows that central banks and major financial institutions are exploring whether tokenization can improve the existing banking system from within. Testing for tokenized wholesale cross-border payments remains ongoing, with a focus on faster settlement, programmability, and easier coordination across currencies.

Nomura’s digital asset unit moves closer to federally supervised custody

• Laser Digital, the digital asset arm backed by Nomura, received conditional approval from the U.S. Office of the Comptroller of the Currency for a national trust bank charter. If fully approved, Laser Digital National Trust Bank would be able to hold and administer tokenized, digital and conventional assets in the U.S. under federal supervision. (Reuters)
• Why it matters: Nomura is a major traditional finance institution, and the approval may support its expansion into regulated digital asset infrastructure. It also shows how institutional crypto activity is increasingly focused on custody, collateral management, stablecoin transactions, and tokenized assets, not only trading.

Wall Street settlement giant moves deeper into tokenization

• The Depository Trust & Clearing Corporation said last week it plans to bring tokenized assets to the Stellar network. This is part of its broader push into blockchain-based market infrastructure. DTCC is a key component of traditional U.S. financial plumbing.
  (DTCC)
• Why it matters: DTCC’s involvement is significant because tokenization would need to scale to connect meaningfully with the traditional infrastructure that supports securities markets. A move by a major settlement and post-trade infrastructure provider suggests blockchain-based assets are being explored in areas closer to existing capital markets infrastructure.

Canadian spotlight: DMG reports lower revenue as bitcoin mining conditions stay tough

• British Columbia-based DMG Blockchain Solutions reported second-quarter revenue of $7.3 million, down from $11.2 million in the prior quarter and $12.6 million a year earlier. The company mined 69 bitcoin, flat from the first quarter but down from 91 bitcoin in the same period last year, while reporting a hashrate of 1.70 EH/s and improved fleet efficiency of 21.4 J/TH.
  (Globe Newswire)

• BTC Weekly Range: $99K-$107K
• ETH Weekly Range: $2.7K-$2.9K

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• June 4: U.S. Initial Jobless Claims
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Crypto remained under selling pressure last week as Bitcoin and Ethereum struggled to build momentum after a recent attempt to recover.

The broader macro backdrop remained challenging. Risk assets were pulled between resilient equity-market momentum and renewed concerns about inflation, bond yields, and whether central banks can move toward easier policy as quickly as markets had previously expected.

This week’s U.S. labour-market data will be closely watched because it may influence expectations for the next move in interest rates and broader risk-asset sentiment.

Meanwhile, industry headlines remained active despite weaker price action. Project Agorá showed central banks and major banks testing tokenized payment rails, Laser Digital moved closer to operating as a federally supervised digital asset trust bank in the U.S., and Ethereum continued to emphasize security as an important requirement for broader network development.

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