• The company will focus on scaling TBILL and the yield-bearing stablecoin USDO.
• cUSDO was approved this year as off-exchange collateral at Binance.
• BNY Mellon now manages and safeguards Treasurys underlying TBILL.

Real-world asset tokenisation is becoming one of crypto’s most active areas in 2025, and OpenEden is positioning itself at the centre of this shift with a new round of investment supported by major industry players.

The company confirmed on Tuesday that leading trading firms, venture capital groups, blockchain networks and institutional infrastructure providers have backed its latest raise to expand access to tokenised US Treasurys.

The round, which follows OpenEden’s 2024 raise with YZi Labs, comes at a time when short-dated government debt has emerged as one of the fastest-growing niches in digital assets as institutions look for familiar, regulated yields on-chain.

Tokenisation demand drives new investment push

OpenEden said the fresh capital will help it scale its tokenisation-as-a-service platform as more institutions look to move traditional assets onto public blockchains.

The firm is leaning into rising demand for regulated products tied to government debt, with short-term Treasurys becoming a preferred entry point for investors seeking on-chain yield that mirrors conventional markets.

The company did not disclose the size of the round, but it confirmed participation from Ripple, Lightspeed Faction, Gate Ventures, FalconX, Anchorage Digital Ventures, Flowdesk, P2 Ventures, Selini Capital, Kaia Foundation, and Sigma Capital.

Expansion of TBILL and USDO across markets

A significant portion of upcoming development will centre on OpenEden’s two main offerings: TBILL, its tokenised US Treasury fund, and USDO, a stablecoin backed by those same Treasurys.

USDO and its wrapped version, cUSDO, have already been integrated across decentralised exchanges and lending markets.

Earlier this year, Binance authorised cUSDO as off-exchange collateral.

OpenEden said the new investment will support broader distribution of these products and allow the company to introduce additional market structures tied to real-world financial assets.

Broader product pipeline builds institutional focus

Beyond Treasurys, OpenEden is preparing several new instruments designed to deepen institutional engagement with tokenised markets.

These include upcoming tokenised bond exposure, a multi-strategy yield token and a range of structured products aimed at investors familiar with traditional income-generating instruments.

In August, the company appointed BNY Mellon as custodian and investment manager for the Treasurys underlying TBILL.

The product has also received investment-grade ratings from S&P Global and Moody’s, marking a notable step in bridging conventional market requirements with decentralised finance infrastructure.

The post Ripple, leading VCs invest in OpenEden to support the real-world asset tokenisation firm’s expansion appeared first on CoinJournal.

• MiCA currently lets companies gain cross-border access via a single national licence.
• National regulators and firms fear a loss of control and added bureaucracy.
• France, Austria and Italy have backed ESMA’s expanded role for large firms.

The European Commission is preparing to give the European Securities and Markets Authority sweeping powers over the crypto sector.

If approved, ESMA would become the sole body responsible for supervising all crypto asset service providers in the European Union, reported Bloomberg.

The proposal marks a significant change to how the bloc regulates digital assets, placing oversight in the hands of a central authority rather than relying on 27 national regulators.

This draft plan, expected to be announced next month, comes just months before the full implementation of the Markets in Cryptoassets Regulation.

MiCA, passed in 2023, is set to become the EU’s flagship framework for crypto regulation.

Under MiCA, companies currently only need a licence in one member state to operate across the bloc.

This structure has been the result of years of work by both regulators and firms.

MiCA faces uncertainty

MiCA was designed to provide legal clarity and consistency across the EU.

It allows firms to gain authorisation in a single country and use that to offer services in other EU states. This system is known as passporting.

The goal was to reduce fragmentation and streamline operations for businesses.

But the Commission’s new plan would override this process by giving ESMA direct responsibility for approving and monitoring all providers, regardless of where they are based.

The draft proposal suggests ESMA could delegate tasks back to national authorities when needed.

However, the central point of contact would still be ESMA. This change has raised concerns from those involved in the rollout of MiCA.

With the implementation window closing in 2024, firms and local regulators worry that shifting the framework now could cause delays and confusion.

Critics argue that restarting the discussion around MiCA could undermine legal certainty.

Others say that moving responsibilities to ESMA without enough resources could weaken enforcement.

The proposal still needs support from both the European Parliament and the Council of the EU before it becomes law.

Pushback from regulators

The Commission’s move has not gone unnoticed by crypto industry bodies. Many believe that local regulators are better equipped for day-to-day engagement with firms.

Blockchain for Europe, an industry group, has warned that centralising control at this stage would divert attention from the task of getting MiCA running smoothly.

Some consultants have also pointed out that ESMA would require more staff and funding to take on such a role.

National authorities have already invested heavily in building teams and expertise to meet MiCA’s demands.

Replacing that with a central process could result in delays in licensing and supervision.

ESMA chair Verena Ross said earlier this year that the current structure, with 27 separate supervisors preparing for the same task, may not be the most efficient model.

France backs centralised model

France, along with EU institutions, has pushed hardest for expanding ESMA’s powers.

In September, regulators from France, Austria and Italy called for ESMA to supervise major crypto firms directly, while smaller companies could remain under national watch.

This idea would create a two-tier system and offer a compromise between full centralisation and local control.

The proposal is part of a wider trend in the EU to centralise financial oversight.

Brussels has also suggested giving ESMA control over clearing houses, trading venues, and depositories.

However, some countries have resisted, arguing that giving up national control could create unnecessary bureaucracy and reduce flexibility.

The urgency of reform increased in July when ESMA raised concerns about Malta’s crypto licensing practices.

The Maltese regulator had issued MiCA approvals to several firms, prompting questions about consistency and due diligence across the EU.

This incident added weight to the argument for a more unified supervisory model.

As the Commission finalises its proposal, the crypto sector remains on edge.

Businesses are waiting to see whether their licensing and regulatory future will remain at the national level or shift entirely to an EU-wide body.

The post Why the European Commission wants to seize control of crypto oversight appeared first on CoinJournal.

• The UAE’s Federal-Decree Law No. 6 of 2025 came into effect on 16 September.
• Article 62 places APIs, explorers, and decentralised platforms under Central Bank control.
• Article 61 regulates all marketing, emails, and online posts about crypto services.

In a sharp pivot from its crypto-friendly image, the United Arab Emirates has enacted sweeping new legislation that classifies basic cryptocurrency infrastructure, including Bitcoin wallets, as potentially criminal unless licensed by the Central Bank.

Legal experts from Gibson Dunn have flagged the law’s scope as unusually broad, warning that its language introduces significant risk for global technology providers.

This shift, embedded in Federal-Decree Law No. 6 of 2025, comes into force from 16 September and carries global consequences for developers and platforms offering crypto access.

The law replaces the 2018 banking statute and significantly widens the definition of financial activity. What sets this legislation apart is not only its scope but also its enforcement teeth.

Penalties for non-compliance range from fines of AED 50,000 to AED 500,000,000 (up to $136,000,000) and may include imprisonment.

Importantly, this applies not just to entities operating within the UAE but also to those whose products are accessible from within the country.

Licensing now applies to wallets, APIs and even analytics

The most consequential element of the new law is found in Article 62. It grants the Central Bank control over any technology that “engages in, offers, issues, or facilitates” financial activity.

The wording is broad enough to encompass self-custodial wallets, API services, blockchain explorers, analytics platforms, and even decentralised protocols.

This marks a fundamental change in how crypto infrastructure is regulated in the UAE.

Previously, licensing obligations focused on traditional financial entities, but the updated framework shifts this focus to include software and data tools.

According to developer analysis, even public-facing tools such as CoinMarketCap and open-source Bitcoin wallets may now require licensing to remain accessible within the UAE.

For the first time, developers may face criminal penalties for offering unlicensed crypto tools, even if they are based abroad.

This extension of jurisdiction signals a new regulatory posture that treats access to crypto as tightly as its ownership or exchange.

Communications and marketing now fall under regulation

The crackdown does not stop at financial infrastructure. Article 61 of the same law defines the marketing, promotion, or advertising of financial services as a licensable activity.

In practice, this means that simply hosting a website, publishing an article, or sharing a tweet about an unlicensed crypto service could be considered a legal violation if that content reaches UAE residents.

This change dramatically expands the compliance footprint for companies and developers.

Gibson Dunn highlights that these provisions materially broaden the enforcement perimeter, especially for firms with no formal presence in the UAE.

The law applies to communications that originate outside the country but are accessible inside it.

The result is a regulatory landscape where developers, content creators, and infrastructure providers must weigh whether their platforms are indirectly accessible by users in the UAE.

In many cases, avoiding legal exposure may require disabling access or halting service altogether.

Dubai’s free zones no longer shield crypto services

Over recent years, the UAE has positioned itself as a hub for blockchain innovation.

Jurisdictions such as Dubai’s Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM) attracted global attention with purpose-built crypto licensing frameworks.

However, the new federal law overrides these free-zone arrangements, asserting Central Bank control nationwide.

Federal law supersedes any rules introduced by the UAE’s free zones, effectively dissolving the regulatory arbitrage that once drew companies to Dubai.

The broader context includes the country’s history of digital restrictions.

For instance, WhatsApp voice calls remain blocked across the UAE, reinforcing a consistent policy approach to centralised control over communications and digital tools.

While this may bring the UAE in closer alignment with international pressure from groups like the Financial Action Task Force, it also puts crypto service providers in a difficult position.

In other jurisdictions facing similar pressure, firms have withdrawn entirely to avoid enforcement risk.

Enforcement begins in 2026, with further rules expected

Entities have a one-year window from 16 September 2025 to come into compliance. This grace period may be extended at the discretion of the Central Bank.

During this time, further regulations are expected to clarify how these broad rules will be applied in practice.

Despite this, the scope of the law is already causing concern.

The language around facilitation and communication, combined with the severe penalties under Article 170, suggests that firms offering crypto tools globally must now consider the risk of incidental exposure to UAE users.

For software developers and platform operators, this marks a significant departure from the norms of decentralised access and open-source innovation.

The post UAE makes Bitcoin wallets a crime risk in global tech crackdown appeared first on CoinJournal.