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SkyAI faces pressure from major shareholders to hold accountable for SOL's liquidation decision, while Korea's Meritz Securities partners with Optimism to explore tokenized infrastructure

According to BBX data, yesterday global publicly listed companies in the U.S. stock market and mainstream financial institutions disclosed the latest developments in the disposal of crypto asset treasury, corporate governance accountability, and Layer 2 security tokenization cooperation. The core information is as follows:Shareholder Bastion Trading, holding approximately 9.99% of SkyAI shares, issued a statement pressuring for accountability regarding the liquidation of SOL and demanding a board restructuring: Major shareholder Bastion Trading, which holds approximately 9.99% of the NASDAQ-listed company SkyAI (NASDAQ: $SKYA), officially released a statement requesting that SkyAI's Executive Chairman Paul K. Danner III and three directors Soren Bo Christiansen, Timothy J. Ruemler, and Jason L. Monroe publicly explain their specific roles in evaluating, approving the takeover offer, and overseeing the complete liquidation of SOL, including who authorized and supervised the liquidation, reviewed the timing of the transaction, execution methods, counterparties, and transaction costs.Meritz Securities of South Korea signs MOU with Optimism Foundation to explore tokenized financial asset clearing based on OP Stack: South Korea's mainstream financial institution Meritz Securities announced the signing of a memorandum of understanding (MOU) with the Optimism Foundation. The two parties will jointly study the issuance, clearing, and distribution framework of tokenized financial assets based on OP Mainnet and other OP Stack networks, deeply exploring the commercial viability of using Ethereum public Layer 2 as a financial-grade distribution and clearing infrastructure. Meritz Securities stated that it will focus on exploring tokenized financial products based on high-quality local assets within the legal and licensing compliance framework, and will promote implementation in conjunction with the progress of South Korea's security token offering (STO) regulations. Previously, KB Securities and DB Securities in South Korea have also successively accessed the OP Stack ecosystem to explore related tokenization businesses.

first_img Shinhan Card of South Korea collaborates with Japan's SBI to explore cross-border payment settlement with a yen stablecoin

According to CoinDesk, Shinhan Card, a subsidiary of South Korea's Shinhan Financial Group, is collaborating with a subsidiary of Japan's SBI Holdings to explore the payment applications of a yen stablecoin between the two countries. Participants include the cryptocurrency exchange SBI VC Trade and the trade finance blockchain company SBI XDC Network APAC.The collaboration will study scenarios such as card-linked merchant payments for Japanese tourists visiting South Korea, wallet-to-wallet transfers, and cross-border trade settlements, and will include suspicious transaction monitoring and anti-money laundering compliance systems. Shinhan Card serves approximately 20 million cardholders and stated that it will connect this project with Shinhan Financial's broader digital asset strategy, which includes an agreement reached in August with Visa to explore stablecoin issuance, transfers, and card settlements.Currently, the project is still in its early stages, and the parties have not disclosed the types of stablecoins to be tested, nor have they set a timeline for testing or commercial rollout. SBI has previously issued the yen stablecoin JPYSC, launched by SBI Shinsei Trust Bank and introduced in collaboration with Startale Group, which had a circulation of approximately 20.1 billion yen (about 127 million USD) as of September 7. JPYSC is currently only available for use in SBI VC Trade accounts and cannot be transferred to external wallets. Its circulation on the public chain depends on legal and tax clarity and regulatory approval, and the parties have not indicated whether JPYSC will be included in this test.

first_img SBI and Startale join Open Standard to explore interoperability between JPYSC and OUSD

On October 16, SBI Holdings and Startale Group announced their participation in Open Standard to explore the interoperability of the dollar-pegged stablecoin OUSD and the yen-denominated trust-based stablecoin JPYSC. The article states that Open Standard will launch in June 2026, and the alliance already includes over 140 global companies, including Visa, Stripe, Mastercard, BlackRock, and Coinbase, with OUSD already publicly launched on-chain. The announcement clarified that this only involves exploring a pilot project and does not represent the launch of new commercial services or the initiation of production environment settlements or trading activities.Yoshitaka Kitao, Representative Director, Chairman, President, and CEO of SBI Holdings, stated that cross-border transactions will become more common, and seamless conversion between yen and dollar stablecoins is crucial. Joining Open Standard and exploring related proof of concepts is an important step. He also mentioned that the SBI Group has been the first in Japan to offer dollar stablecoins USDC and RLUSD. Startale Group CEO Sota Watanabe stated that joining Open Standard reflects both parties' belief that the future of finance is on-chain, borderless, and interoperable, and that the pilot interoperability of JPYSC and OUSD is of significant importance.JPYSC is issued by SBI Shinsei Trust Bank and is positioned as an on-chain yen settlement infrastructure compliant with Japan's Payment Services Act and trust law framework. In July 2026, SBI Global Asset Management, DigiFT, and Startale announced a proof of concept for tokenized securities settlement and distribution payments, considering the future use of JPYSC. Open Standard claims it was established in 2026, with founding partners including Coinbase, Mastercard, Shopify, Stripe, and Visa, and over 200 institutions have signed up to add OUSD to the platform.

first_img KakaoPay Securities partners with Dinari and Ondo to explore stock tokenization in South Korea

Korean KakaoPay's securities and tokenization platform Dinari and Ondo Finance have reached separate collaborations to explore the on-chain integration of Korean listed stocks and distribution to overseas market investors. KakaoPay announced these two independent agreements on Tuesday, covering the acquisition of target Korean stocks, tokenization infrastructure, and potential distribution arrangements outside of Korea.The collaboration with Dinari will rely on its dShares model for a proof of concept, which aims to retain shareholder rights, including dividends and voting. Dinari currently offers 724 tokenized U.S. stocks and ETFs through dShares, and this collaboration explores extending that model to stocks of Korean listed companies. Dinari CEO Gabe Otte stated that the proof of concept has not yet selected specific Korean listed companies and has not set a commercialization timeline; the proposed model will use locally listed stocks in Korea as the underlying assets, rather than tokens that only track their prices.The initial focus of the agreement with Ondo is to establish a framework for the acquisition and custody of Korean listed stocks, preparing for subsequent tokenization. KakaoPay will operate a comprehensive account for foreign investors to hold and manage the underlying stocks, and both parties will also study the issuance and redemption mechanisms for tokens. This collaboration comes as Korea advances its token securities regulatory framework: the Korean National Assembly passed an amendment in January this year, recognizing distributed ledgers as legitimate securities registries; the Financial Services Commission included it in capital market reforms in June; and the framework is set to take effect in February 2027.
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