Grayscale Files Confidential IPO Paperwork With SEC OKX Integrates USDG Stablecoin For 60 Million Users Standard Chartered Launches Bitcoin Ether Spot Trading

Grayscale Investments, a prominent crypto asset manager, has submitted confidential paperwork to U.S. regulators for a potential initial public offering. The firm filed a draft S-1 registration statement with the Securities and Exchange Commission, which could pave the way for Grayscale shares to trade publicly. However, no specific timeline or details were disclosed, and the launch will depend on regulatory review and market conditions. This move follows a trend in both traditional and crypto sectors, where companies use confidential filings to negotiate with regulators and adjust business disclosures before making plans public. Grayscale manages significant products like the Grayscale Bitcoin Trust (GBTC) and Ethereum Trust (ETHE), which converted to ETFs last year and hold about $24 billion in assets. These products have seen significant outflows as investors seek lower-cost alternatives.

Crypto exchange OKX has joined the Global Dollar Network, integrating the network’s US dollar-pegged stablecoin, USDG, into its platform. This integration serves 60 million users across 180 countries, allowing them to access USDG and convert it one-to-one with the U.S. dollar at no charge. OKX joins other major brands including Kraken, Robinhood, and Worldpay in this partnership. The move signals growing demand for stablecoins as bridges between traditional finance and decentralized finance. Global Dollar Network operates on Solana, Ink, and Ethereum blockchains and rewards partners based on their contributions, aiming to expand the network’s footprint.

Standard Chartered has launched spot trading for bitcoin and ether through its U.K. operations, becoming the first global bank to directly offer crypto spot trading to institutional clients. The service enables asset managers, corporate treasurers, and large institutional investors to buy and sell bitcoin and ether through the same interfaces they use for foreign exchange trades. The bank is initially rolling out the service during Asia and Europe trading hours, with the potential for round-the-clock trading if client demand rises. While some banks have offered crypto derivatives or indirect exposure, Standard Chartered’s move into spot trading sets a new precedent among major global banks.