NS Solutions announced on July 9 that it has begun joint testing with ANDLAW FZCO, SMBC Nikko Securities, DeFimans, and Perplexity AI on a next-generation execution infrastructure for digital assets. The five firms have signed a memorandum of understanding to test the optimization of transactions across traditional financial markets and on-chain and off-chain markets. With the global issuance and circulation of stablecoins reaching 300 billion dollars, and the on-chain real-world asset market excluding stablecoins also exceeding 30 billion dollars, the initiative aims to address price formation and liquidity fragmentation across multiple markets. In the testing, NS Solutions will provide the trading platform and algorithms, ANDLAW FZCO will design the execution infrastructure, SMBC Nikko Securities will participate from a practical perspective, DeFimans will handle overall design, and Perplexity AI will support with AI technology. Specifically, the firms will test the visualization of cross-network arbitrage opportunities and execution optimization methods, aiming to provide optimal execution opportunities to financial institutions and market makers.
NS Solutions announced and leads the joint testing, providing trading platform and algorithms.
ANDLAW FZCOPrivate▲ Positive
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ANDLAW FZCO will design the execution infrastructure, central to the initiative.
DeFimansPrivate▲ Positive
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DeFimans handles overall design, key role in the testing.
Perplexity AI, Inc.Private▲ Positive
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Perplexity AI will support with AI technology, showcasing its capabilities in a financial consortium.
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ECB President Personally Intervened to Block Binance's MiCA Approval, WSJ Reports
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Bitcoin surged above $81,000 on Saturday as a wave of short liquidations and renewed spot demand helped the cryptocurrency rebound from losses triggered by higher interest rates and a setback for U.S. crypto legislation. Bitcoin climbed as high as $81,702 on Sept. 18 after trading near $76,400 a day earlier, marking its first move above $80,000 since Sept. 7, and was trading at $81,309.4 as of 22:50 ET, up 5.62% for the day. The rebound followed a difficult week in which the Federal Reserve raised interest rates by 25 basis points and the Bank of Japan followed with a quarter-point increase to 1.25%, its highest policy rate in 31 years, while U.S. spot Bitcoin ETFs recorded about $159 million of inflows on Sept. 17. A sharp short squeeze then accelerated Friday's rally, with roughly $192 million of leveraged crypto positions liquidated within one hour, including more than $183 million in shorts, of which Bitcoin shorts accounted for about $119 million. Regulatory uncertainty remains in focus after the U.S. Senate failed to advance the CLARITY Act this week, though the CFTC has submitted a separate crypto market proposal to the White House Office of Management and Budget and the SEC introduced an innovation exemption giving qualifying platforms a five-year route to offer onchain trading in certain tokenized stocks without registering as securities exchanges.
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Sumitomo Mitsui Financial Group, Inc.