TronWeekly

Crypto World News

You are here: Home / All Posts

All Posts

Minnesota Approves Crypto Custody for Banks and Credit Unions

By | Edited By Sahana Kiran,,

Minnesota has approved a law allowing banks and credit unions to offer crypto custody services. The measure lets state-regulated financial institutions hold customer digital assets under rules focused on notice, internal controls, security, and asset segregation requirements for safer oversight.

HF 3709 was signed by Governor Tim Walz on Friday. According to the Minnesota Legislature website, it permits certain virtual-currency custody services to be offered and performed.

Also Read: Standard Chartered Targets Global Crypto Custody Growth with Zodia deal

Crypto Custody Rules Set Compliance Standards

The law takes effect on Aug. 1, 2026. It establishes guidelines for banks and credit unions that decide to participate in crypto custody.

Source: Reuters

The institutions should have a written policy in place prior to introducing the service. Those policies should include risk management, internal controls, security, and any other compliance policies.

They also have to inform the Minnesota Commissioner of Commerce in writing. The notice shall be provided at least 60 days prior to the commencement of crypto custody services.

The crypto custody notice should include information about their risk management framework for state review. Banks and credit unions are also required to keep their assets apart from those of their clients.

Rep. Bernie Perryman, a main author of HF 3709, supported the bill in a March press release. Minnesota financial institutions should have the opportunity to move with customers and members, he said.

Residents should not be forced to choose an out-of-state or offshore provider that may be unregulated, Perryman said. He noted that his comments were related to crypto custody and access via locally regulated custodians.

Minnesota Backs Crypto Oversight While Banning ATMs

The Minnesota Credit Union Network also welcomed the law on Friday. It stated the measure provides a secure solution for crypto management for Minnesotans.

Oversight can enhance protection from fraud, hacks, and loss, the group said. Minnesota joins New York, Wyoming, and Virginia as other states with similar rules.

The state has taken a stricter approach to crypto ATMs. Minnesota passed SF 3868 earlier this month, which prohibits the use of crypto ATMs or kiosks anywhere in the state.

As of Aug. 1, no new crypto ATMs will be allowed to be installed. Operating kiosks will not be allowed to stay, and owners will need to take them down by Dec. 31.

Last month, Canada said it intends to ban crypto ATMs. It cited fraud and money laundering risks in its spring economic update.

Bitcoin ATM operator Bitcoin Depot announced on Monday it had filed for Chapter 11 bankruptcy. It also announced it would wind down its business.

Also Read: Aster Launches 20M ASTER Validator Listing Vote System

Echo Protocol Exploit Freezes $73.2M in Fake eBTC

By | Edited By Sahana Kiran,,

The crypto market faced another shock on Monday after the Echo protocol exploit drained hundreds of thousands of dollars from the Bitcoin-focused DeFi platform. The attack once again showed how fragile decentralized finance systems can become when smart contract vulnerabilities remain hidden.

The exploit first came to light after crypto influencer DCF GOD posted warnings on X. Soon after, blockchain analytics accounts tracked suspicious transactions tied to Echo Protocol’s eBTC token on Monad.

Source: X

According to on-chain data, the attacker minted 1,000 eBTC tokens. The exploiter then deposited 45 eBTC into the lending platform Curvance as collateral. Using that collateral, the attacker borrowed around 11.29 WBTC, valued at nearly $867,700 during the attack.

The stolen WBTC was later bridged to Ethereum and converted into ETH. Reports showed that 385 ETH eventually moved into Tornado Cash, a crypto mixer often used to hide transaction trails.

Also Read: Ethereum Exploit: Verus-Ethereum Bridge Suffers $11.4 Million Hack

Echo Protocol Exploit Raises Fresh DeFi Concerns

The Echo protocol exploit has added more pressure on the DeFi sector, which is already dealing with rising security failures this year. Blockchain tracker Lookonchain reported that the attacker still controls 955 eBTC, worth roughly $73.2 million.

DefiPrime founder Nick Sawinyh noted that most of the fake supply remains untouched because Monad’s decentralized exchanges and lending markets lack enough liquidity to absorb the tokens.

Monad co-founder Keone Hon confirmed that investigators are reviewing the exploit. He also stressed that Monad’s network infrastructure itself was not compromised.

Curvance also responded quickly. The protocol said its isolated market structure helped prevent broader damage across other lending pools. As a precaution, the platform paused the affected Echo eBTC market.

Echo Protocol Exploit Joins Growing Attack List

The Echo protocol exploit is only the latest in a series of DeFi attacks this month. Data from DefiLlama showed there have already been 13 DeFi security breaches in May alone.

One of the biggest incidents before this attack involved the Verus Ethereum bridge exploit, which reportedly caused losses of around $11.6 million.

Echo Protocol built its reputation as a multi-chain BTCFi platform with strong activity on Aptos. Now, the platform faces growing scrutiny as users wait for answers about the root cause of the exploit and whether the stolen funds can ever be recovered.

Also Read: THORChain Hack Drains $10M+ as RUNE Drops 10%: ZachXBT

Swan Bitcoin Sued for Nearly $1B in Prime Trust Bankruptcy Case

By | Edited By Messam Raza,,

Swan Bitcoin is facing a Delaware bankruptcy lawsuit over alleged transfers from Prime Trust before its 2023 collapse. The post-bankruptcy trust claims the firm used insider access to move nearly $1 billion in Bitcoin, cash, stablecoins, and other crypto assets.

The complaint files Electric Solidus, the corporate entity behind Swan Bitcoin. It alleges the company received more than $24.6 million in cash, 11,994 Bitcoin, about 5 million USDt, and smaller amounts of other digital assets before Prime Trust filed for bankruptcy in August 2023.

Also Read: Ethereum Foundation Faces Growing Wave of Leadership Resignations

Swan Bitcoin Case Centers on $923M Bitcoin Transfer

According to the filing, the disputed Bitcoin is now valued at about $923 million. Prime Trust’s litigation trust is seeking to recover assets it says left the custodian as its financial condition worsened.

Source: Courtlistener

The case centers on an unnamed senior Prime Trust executive. The complaint says that the executive also served as a paid adviser to Swan Bitcoin through a side arrangement that began in July 2019.

According to the filing, the executive opened an encrypted chat with Swan CEO Cory Klippsten four days before Prime Trust met Nevada regulators on May 26, 2023. The chat allegedly used auto-deleting messages set to disappear every 24 hours.

The lawsuit says that feature was turned off the day after the regulator meeting. Swan Bitcoin then withdrew more than 10,000 Bitcoin from Prime Trust, according to the complaint.

Prime Trust’s post-bankruptcy trust claims the company gained an unfair advantage over other customers. It alleges Swan Bitcoin knew to transfer fiat and crypto before the bankruptcy filing to avoid major losses.

Swan Bitcoin Withdrawal Request Draws Ledger Scrutiny

The complaint also says Swan widened the scope of its withdrawal request before the Nevada meeting. The request allegedly changed from a partial transfer to a full withdrawal of funds from Prime Trust.

Prime Trust employees then rushed to complete the request before the end of business that day. The filing cites Slack messages that allegedly show staff working to process the transfers.

The lawsuit also focuses on an internal ledger created on May 25. The account was labeled “PT FBO Swan Customers,” though the complaint says that the account did not previously exist.

According to the plaintiff, the ledger made it appear that Swan customer assets had always been held separately in trust. The complaint rejects that position and says the assets were not held in trust for those customers.

Prime Trust’s litigation trust is seeking recovery under preferential transfer and actual fraudulent transfer provisions of the Bankruptcy Code. It also wants the court to block any future Swan Bitcoin claims against the estate until restitution is made.

Also Read: Iggy Azalea Hit With Major MOTHER Memecoin Lawsuit in 2026

Tokenized Stocks Could Transform Strong $126 Trillion Market: SEC

By | Edited By Sahana Kiran,,

The U.S. Securities and Exchange Commission may be preparing one of the biggest regulatory shifts yet for digital finance. Bloomberg Law reported that the agency is considering a new “innovation exemption” that could allow platforms to trade tokenized stocks under lighter rules.

The proposal could arrive as early as this week. If approved, it would open the door for digital versions of publicly traded securities to trade more freely on blockchain-based systems.

The move signals a growing change in Washington’s attitude toward crypto infrastructure. For years, regulators focused mainly on enforcement. Now, the SEC appears ready to create rules designed specifically for blockchain-powered markets.

Also Read: BNB ETF Nears Launch After Strong Filing of Amended S-1 prospectuses with SEC

Tokenized Stocks Could Change Market Structure

Tokenized stocks are blockchain-based versions of traditional shares. Unlike normal equities, they can trade 24 hours a day and settle almost instantly.

Supporters believe this system can remove friction from financial markets. Faster settlement could lower costs and reduce delays that have existed for decades in traditional finance. Blockchain rails may also give global investors easier access to U.S. equities.

Source: X

Critics, however, warn that tokenized stocks could fragment liquidity across multiple platforms. Investor protection and market oversight also remain key concerns.

However, major institutions are moving ahead aggressively. The Depository Trust & Clearing Corporation plans to begin limited tokenized asset trades in July before a broader rollout in October. The system would support tokenized versions of stocks and ETFs backed by assets already held inside the DTCC infrastructure.

Meanwhile, Nasdaq is building a framework for blockchain-based shares while maintaining traditional ownership rights. Intercontinental Exchange, the parent company of the New York Stock Exchange, is also expanding into tokenized securities through a partnership tied to crypto exchange OKX.

Tokenized Stocks Gain SEC Support

SEC Chair Paul Atkins has openly acknowledged that existing securities laws do not fully fit blockchain systems. He recently said the agency is reviewing rules for on-chain trading, blockchain settlement, and crypto custody.

Atkins argued that modern financial systems increasingly combine trading, clearing, and settlement into one protocol. Because of that, the SEC may prefer formal rulemaking instead of relying on enforcement actions.

The push comes as firms compete to modernize the $126 trillion global equity market. If the SEC moves forward with its innovation exemption, tokenized stocks could move from a niche crypto concept into mainstream Wall Street infrastructure.

Also Read: Grayscale and VanEck Update BNB ETF Filings as SEC Review Intensifies

SUI Price Nears Critical Support, Eyes Possible Rally Toward $1.42

By | Edited By Ammar Raza,,

SUI price is facing renewed downward pressure due to the failure to sustain its previous bullish momentum. This is because the token has begun declining even after recording a significant rally at the beginning of this month. Market players are now more cautious since the price of SUI is nearing a crucial support level.

At the time of writing, SUI is trading at $1.03 with a 24-hour trading volume of $808.44 million and a market capitalization of $4.12 billion. The SUI price has dropped by 3.58% over the last 24 hours, showing increased selling activity across the broader crypto market.

SUI price chart

Source: CoinMarketCap

Also Read | Ethereum Exploit: Verus-Ethereum Bridge Suffers $11.4 Million Hack

SUI Price Near Key Support Zone

Crypto analyst BitGuru observed on May 18, 2026, that the SUI token is gradually approaching a strong support region after its latest pullback. The crypto analyst noted that when the price of SUI was trading in the same region previously, the token consolidated and eventually broke out strongly towards the $1.42 region.

SUI price analysis

Source: BitGuru’s X Post

However, BitGuru observed that this level could once again be significant for the buyer if stability prevails in the market in the days ahead. At the moment, a lot of investors are paying close attention to how SUI manages to hold on to this level of support and gather enough strength for another attempt at an upward move.

SUI Price Pullback Shows Weakening Momentum

According to technical analysis, it appears that the bullish momentum on the stock price of SUI has started to fade since there has been a sudden rise in its value this month. The RSI stands at 48.14 compared to its recent high of 62.75.

The RSI has gone below the more bullish region, indicating that perhaps the bulls have lost their dominance gradually. However, it is near a neutral level, and hence, there cannot be any confirmation on the turn towards the bearish trend.

SUI technical analysis chart

Source: TradingView

Meanwhile, the MACD oscillator is indicating declining momentum in the SUI price as well. As of now, the MACD oscillator stands at -0.01088 while the signal line is still above the former at 0.03974. Moreover, the histogram is printing shorter red bars, indicating slowing buying momentum following SUI’s run to $1.40.

Assuming that the weakness persists, investors might pay close attention to the $1.05 and $0.97 support levels, as a bounce off these levels would assist in driving the SUI price upwards. Meanwhile, a continuation of the weakness would see the price fall further.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | AI Agents in Crypto: Citadel CEO on Speed, Risk, and Blockchain Impact in 2026

Solana Price Faces Key Rejection at $98 as Downtrend Pressure Builds

By | Edited By Ammar Raza,,

Solana price is trading in a certain range because of the inability of the coin to move above an important resistance level that lies above the channel. Currently, the market is experiencing high volatility, but there is no visible bias in the price as it keeps testing key support levels.

At press time, SOL is trading at $84.12, reflecting a 2.47% fall during the last 24 hours, due to the ongoing effect of short selling on the price. Despite the bearish move, the activity in the market is still high, with a daily trading volume of $5.12 billion and a market cap of $48.65 billion.

SOL price chart

Source: CoinMarketCap

Also Read | Iran Launches Hormuz Safe Platform Settling Maritime Insurance in Bitcoin

Solana Price Risks Further Decline

A popular crypto analyst, Ali Martinez, highlighted on May 18, 2026, that there is a significant technical formation behind the moves made by Solana. According to Martinez, the cryptocurrency failed to break through the upper boundary of the ascending channel at the price level of $98, which served as resistance previously.

SOL price chart

Source: Ali Martinez’s X Post

This implies that the momentum of the upper part is now weakening, thus increasing the probability of Solana heading towards the lower part of the channel, which is currently at $78.

Such a move would not be considered a full reversal but rather a retracement since it happens after consolidation. This occurs following prior moves. The Solana price remains confined within the support and resistance levels.

Solana Derivatives Signal Market Consolidation

Information on derivatives provides extra understanding of how the Solana price is performing currently. The open interest has decreased slightly to 0.96%, reaching $2.82 billion, meaning that there is a small decline in the leveraged positions.

SOL open interest and volume chart

Source: Coinglass

In the meantime, the volume has increased sharply by 89.33% to $3.59 billion, indicating that despite the decrease in Solana price, there have been numerous transactions with continuous adjustments in positions.

Besides, the OI weighted funding rate remains at 0.0004%, which shows that there is equilibrium in the derivatives market. This is an indication that there is no monopoly in either buying or selling at the moment. It implies that the Solana price movement is in the consolidation phase as the market awaits what it will do after the present support level.

SOL OI Weighted chart

Source: Coinglass

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | Strategy Bitcoin Purchase Adds 24,869 BTC, Holdings Reach 843,738 BTC

SAND Price Outlook: Falling Wedge Pattern Hints at Recovery Toward $1.45

By | Edited By Messam Raza,,

The Sandbox (SAND) is trading in a falling wedge with weakening bearish momentum and rising activity; despite a strong downtrend below key moving averages and weak RSI, increased volume and stable open interest suggest accumulation, leaving potential for a bullish breakout for the SAND price if support holds.

At the time of writing, SAND is trading at $0.07043 with a 24-hour trading volume of $37.35 million and a market capitalization of $206.65 million. Despite posting a 3.17% decline over the last 24 hours, rising trading volume and easing pressure point to a breakout in the coming sessions.

SAND Price chart

Source: CoinMarketCap

SAND Price Could Surge to $1.45 If Support Holds Strong

According to crypto analyst Jonathan Carter, the SAND price is showing a notable technical structure on the weekly chart, with the price respecting a long-standing falling wedge pattern. 

After extended downside pressure, the SAND price is repeatedly finding support at the lower boundary, suggesting weakening bearish momentum and gradual accumulation. Buyers are beginning to stabilize price action within this key zone.

SAND Price Could Surge to $1.45 If Support Holds Strong

Source: Jonathan Carter’s X Post

In case the pattern remains intact, a bullish breakout could emerge, pointing toward the possibility of a recovery in the near future. 

The SAND price objectives include $0.13, $0.22, $0.40, $0.90, and $1.45, depending on how much momentum will be demonstrated by the market. However, in case of failure of support level for the wedge pattern, the whole idea would become invalid.

Also Read: The Sandbox (SAND) Accumulation Could Drive The Price Toward $0.085

Technical Indicators Point to Bearish Dominance

According to TradingView, the SAND price is on a strong downward trend, continuously forming lower tops and bottoms. 

Its price is trading well below its 20-day, 50-day, 100-day, and 200-day EMAs, thus making a perfect example of a bearish crossover pattern. Currently, the asset is heading towards support at $0.07060.

Technical Indicators Point to Bearish Dominance

Source: TradingView

The relative strength index is standing at 38.95, moving below its yellow signal line of 50.02. It is indicative of bearish sentiment that has not yet reached oversold conditions. 

In addition, the short-term EMAs are hugging each other near the top, providing solid overhead resistance that does not allow even the briefest of rallies to occur.

SAND Derivative Data Point to Improving Strength

However, the trading volume went up to $36.60 million, an increase of 111.74%, which is indicative of active participation in the market by traders due to changes in prices and general sentiment prevailing in the market.

SAND Derivative Data Point to Improving Strength

Source: Coinglass

The open interest increased slightly by 1.09% to stand at $26.46 million. The slight increase reflects consistency in the positions held by market players despite the fluctuations in trading volumes and expectations.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: SAND Price Forecast: Break Above Resistance Could Trigger Move to $0.65

DOGE Price Prediction: Accumulation Phase Points to an Explosive Move to $3

By | Edited By Messam Raza,,

Dogecoin is being viewed as shifting toward stronger ecosystem-driven growth beyond hype cycles. Traders see accumulation zones and long-term bullish potential, but major upside depends on favorable market conditions. Short-term momentum remains weak for the DOGE price, with selling pressure and technical indicators suggesting continued decline.

At the time of writing, DOGE is trading at $0.1034 with a 24-hour trading volume of $17.62 billion and a market capitalization of $17.62 billion. Despite posting a 6.16% decline over the last 24 hours, the DOGE price could hold its long-term accumulation ground to pave the way to new highs.

DOGE price chart

Source: CoinMarketCap 

Also Read: Dogecoin Price Could Rebound Toward $0.15 if Buyers Regain Momentum

DOGE Price Accumulation Point to Explosive Run to $3

According to the crypto analyst Crypto Patel, the narrative around Dogecoin is shifting again as the DogeOS founder claims the asset is gradually moving beyond its historical dependence on Elon Musk’s influence. 

Instead of reacting mainly to social media hype, Dogecoin is being framed as developing its own ecosystem strength, community activity, and longer-term market structure within the evolving crypto landscape.

DOGE Price Accumulation Point to Explosive Run to $3

Source: Crypto Patel’s X Post

Accumulation areas ranging from $0.07 to $0.10 are currently being discussed by traders, who consider them as potential entry points for long-term investments amid the ongoing consolidation phase. 

Speculative expectations are that the DOGE price could reach the levels of $1, $2, and even $3 during this year’s strong alt-season. The ability to achieve such price levels will depend on market liquidity and bullish momentum.

The main issue here is that the DOGE price might actually achieve $2 in the next cycle. Previous rallies show that it has the capability of making big moves. 

However, for that to happen, there needs to be an exceptional market environment and good demand. Ultimately, it comes down to how long Dogecoin will remain relevant past the hype moves.

DOGE Faces Pressure Below Key Moving Averages

According to TradingView, the DOGE price witnessed a sharp decline in the month of March and maintained its range in April within a tight trading band of $0.08800 to $0.09400. 

A bullish sentiment pushed the DOGE price to reach an upward level of $0.11594 in May, but a swift decline of -4.90% erased its gains recently. Its current price is $0.10360.

DOGE Faces Pressure Below Key Moving Averages

Source: TradingView

The DOGE price fell below the middle Bollinger Band at 0.10981 and is quickly approaching the lower band at 0.10368 due to rising volatility. 

The downtrend is also confirmed by the MACD falling below the signal line into negative territory at -0.00106. The new crossover shows that the downside momentum is picking up, which means more downswings are expected.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Dogecoin Price Signals Major Breakout Potential as DOGE Targets $0.15

Ethereum Foundation Faces Growing Wave of Leadership Resignations

By | Edited By Messam Raza,,

Ethereum Foundation is back in the headlines as Carl Beek and Julian Ma, two key members, have announced their resignation. This follows an established trend of resignations at the Foundation, raising new concerns in the crypto world about the future of one of the leading organizations in the cryptocurrency space.

However, the Ethereum Foundation has been facing more scrutiny in recent months following a series of departures of prominent individuals. This continued trend has raised the suspicion that there may be bigger issues brewing within the Foundation as the Ethereum project scales to become a global blockchain network.

Also Read | Ethereum Exploit: Verus-Ethereum Bridge Suffers $11.4 Million Hack

Ethereum Foundation Faces Growing Leadership Turnover

Beek and Ma are just two individuals among others who have left as a result of the trend towards departure from the Foundation, as a result of the development and coordination activities that have been associated with it. Previously, other known individuals like Barnabé Monnot and Tim Beiko had also left their positions.

Among other exits, there is also that of Trent Van Epps, an important person behind the creation of the Protocol Guild, a funding body that later went on to form a separate support network for the Ethereum core team. Alex Stokes, previously a co-leader of an important protocol project, recently decided to take a break from the space.

Among such posts, one notable example is that made by an anonymous user @DefiIgnas on the X platform, who highlighted the reasons for “so many people leaving the Ethereum Foundation.”

This is happening in the midst of the Ethereum Foundation’s own larger strategy shift, as announced earlier this year when the Ethereum Foundation laid out a new mission statement, which made it clear that it is not a governing body but just one of the many groups supporting the research and development process in Ethereum.

Ethereum Foundation Future Under Question

In addition to that, the revised mandate for the Ethereum Foundation highlighted some important core values like censorship resistance, privacy, open source, and security. The mandate also proposed that with the maturing of Ethereum, there should be a gradual decline in the role of the Ethereum Foundation.

Restructuring of the leadership is yet another factor that has influenced this process. Tomasz Stańczak, who had been working for the Ethereum Foundation as the co-executive director since the organization underwent a restructuring phase in 2025, recently announced his resignation from the post, having worked there for a relatively brief period of time.

With the Ethereum Foundation still figuring out how it should be structured internally, as well as the role it is supposed to play in relation to the platform, there are concerns that all the departures will make it impossible for it to keep things together while ensuring the development of Ethereum in the long run.

Also Read | Tom Lee Says Ethereum Price Outlook Can Strengthen Through 2026

XLM Price Eyes Rally Toward $1.29 as Stellar Gains Institutional Momentum

By | Edited By Messam Raza,,

Stellar (XLM) is consolidating in a key zone with potential bullish momentum building if a breakout occurs, which could lead to a strong upward move for the XLM price. Market activity shows rising interest but mixed conviction, while Stellar continues expanding real-world financial use cases through institutional adoption.

At the time of writing, XLM is trading at $0.1466 with a 24-hour trading volume of $126.49 million and a market capitalization of $4.91 billion. Despite posting a 2.9% decline over the last 24 hours, rising trading volume and Stellar’s real-world adoption point to a strong breakout ahead.

XLM Price chart

Source: CoinMarketCap

XLM Price Eyes Massive Breakout Toward $1.29

According to the crypto analyst Javon Marks, XLM, the native token of Stellar, is currently holding a technically significant zone that could trigger a strong upward continuation. 

If momentum builds and resistance breaks, the XLM price action may accelerate toward the first major target near $0.681, signaling renewed bullish strength and a potential shift in overall market sentiment.

XLM Price Eyes Massive Breakout Toward $1.29

Source: Javon Marks’ X Post

A breakout beyond $0.681 could bring in the scope for even bigger gains for the XLM price, with technical experts looking to test the $1.29 level next. 

This would be quite a big run along the current pattern, but validation will be required before anything is confirmed. In the meantime, the XLM price remains well within its consolidation phase.

Also Read: State Street and Galaxy Launch SWEEP Tokenized Fund on Stellar as XLM Targets $0.55

Increasing Trading Volume Points to Bullish Reversal

However, the XLM volume rose by 87.83% to $187.20 million, implying high trading volumes and increased participation in the market. The increase is indicative of increasing investor interest, better liquidity, and potentially higher volatility in the market.

Increasing Trading Volume Points to Bullish Reversal

Source: Coinglass

Open interest fell by 6.92% to reach $103.37 million, suggesting lower capital commitment and fewer positions taken. This fall may be an indicator of profit booking, risk-averse trading attitude, or weakening short-term conviction.

Stellar Powers Bermuda’s Financial Services Shift

The data from Stellar further highlighted that the Stellar Development Foundation, along with the Bermuda government, is planning on shifting the critical payments and financial services operations on the Stellar blockchain network. 

This step highlights the efforts by Bermuda in moving towards updating its financial infrastructure using distributed ledger technology for fast, efficient, and transparent settlements.

Stellar Powers Bermuda’s Financial Services Shift

Source: Stellar

The project aims at positioning Stellar as a backbone in the world of finance by moving from experimentation to actual use cases. 

By integrating on-chain applications into the processes of government departments, Bermuda hopes to achieve faster payments and increased interoperability. This would prove to be a good case study for other governments looking to improve their financial systems using blockchain technology.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: XLM Price Forecast: Can Bulls Trigger a Recovery Rally Toward $0.328?