Partior and OpenAssets complete atomic DvP proof of concept with tokenised deposits as the settlement asset

The BIS published results showing Project Agorá has moved beyond simulation: 22 financial institutions and 5 central banks completed 30 transactions worth roughly CHF 800,000 ($984,000) across CHF, EUR, GBP, JPY, KRW, and USD, with tokens backed by actual central bank reserves and tokenised deposits and an average 80 seconds from initiation to settlement, despite no connection to RTGS or core banking systems. The dollar was the only currency whose central bank sat out the live tests, with the Federal Reserve Bank of New York absent after participating in the May prototype, and the project remains experimental with no production commitment.

Visa CEO Ryan McInerney disclosed on the Q3 earnings call that the Visa Stablecoin Platform, launched 16 July 2026 with OpenUSD as its first coin, will be integrated with Pismo, Visa's cloud-native issuer processing and core banking subsidiary, and that Visa is open to acquiring across the stablecoin stack; Pismo already supports tokenised deposits and plans to add third-party deposit-token infrastructure providers, pushing minting and redemption capability into a processor already embedded inside bank cores.

A mystery-shopping study tracked 200 USDC remittances across 10 corridors and found end-to-end costs of 0.3% to almost 9% of value sent, with blockchain fees a tiny fraction and exchange fees, FX spreads, and local banking charges dominating; settlement ranged from 20 minutes where instant-payment off-ramps existed to two business days where they did not.

Digital Prime Technologies announced 10 launch partners for Tokenet, live since May 2026, including Galaxy Digital, Marex, Flow Traders, Clear Street, and Ripple Prime, representing more than $1 billion in inventory and demand from day one as of 29 July 2026.

Aviva Investors issued a tokenised MMF (money-market fund) share class for its USD Liquidity Fund on the public XRP Ledger with Ripple, approved by the Central Bank of Ireland, in a UCITS fund whose existing share classes held $1.23 billion as of 31 July 2026 with a £1 million token minimum; the tokens mirror conventional book entries, cannot exist independently of the traditional share, and are non-transferable, so the collateral-mobility case driving tokenised MMF demand is not yet on the table.

Morgan Stanley extended regulated crypto exposure through wirehouse distribution following its bitcoin fund, a channel signal rather than a tokenisation deployment.

Circle received an NYDFS trust charter on 31 July 2026, moving USDC issuance off the BitLicense onto a trust footing with stronger holder protections, weeks after the OCC's final approval for First National Digital Currency Bank, operating as Circle National Trust; the New York trust remains the issuer and directs the national trust toward reserve management and affiliate custody, mirroring Ripple's dual structure while Paxos converts its NYDFS trust into a single national trust.

Two groups of banking associations responded to the Federal Reserve's May 2026 consultation on cut-down payment accounts, both seeking safeguards and narrower scope, and pushing the Fed to publish its interpretation of which institutions are legally eligible; the answer gates the OCC national trust wave, since those charters count as Tier 3 unless the holding company is Fed-supervised.

The central bank published draft rules creating regulated digital depositories with tiered capital requirements of 50 million to 250 million rubles ($570,000 to $2.8 million), extending securities-market rules to digital assets before the framework takes full force by September 2026.

BNY launched a Digital Transfer Agency alongside the conventional transfer agency that services around $8.6 trillion in assets across 7.6 million accounts as of July 2026, creating a single onchain record of ownership for digitally native funds with stablecoin and fiat settlement of issuance and redemption. Baillie Gifford co-designed the offering and used it for the first fully native UK-regulated tokenised fund on Ethereum and Solana, BNY Investments Dreyfus will use it for a new digitally native MMF, BLIQUID, and BlackRock is expected to deploy it for BSTBL, its digital share class targeting stablecoin issuers. This is the world's largest custodian committing a core fee business, not a lab, to natively digital issuance just as tokenised MMFs head toward collateral use, and doing it in direct competition with Securitize, which BlackRock already uses as digital transfer agent for BUIDL.

SWIAT announced the official launch of the RL1 blockchain cooperative in Luxembourg with 10 member institutions including ABN Amro, DekaBank, DZ Bank, LBBW, Natixis CIB, Cecabank, Crédit Mutuel, and SC Ventures, and KfW and L-BANK as supporters, positioning a neutral European settlement network just before the Eurosystem's Project Pontes goes live in September 2026 with wholesale CBDC settlement.

Ondo Finance abandoned its February 2025 plan for a conventional layer-1 in favour of Ondo Network, which separates fast private execution from public-chain settlement, with perpetual futures platform Ondo Perps as the first application accepting tokenised assets as collateral; Ondo held about $2.6 billion in tokenised US Treasury products and roughly $850 million in tokenised equities as of 28 July 2026 per rwa.xyz.