Tokenized stocks have surged 2,695% year to date in 2025, outpacing tokenized commodities (225%) and funds (148%), while stablecoins rose 49% in the same period. Ethereum remains the primary issuance venue, but Solana, BNB Chain, Arbitrum, Base, and Polygon have carved out notable market share. Issuers including Backed, Ondo Finance, Dinari, and Robinhood are driving adoption.

The US Federal Reserve is inviting comments on a proposed "payment account", sometimes called a "skinny master account", that could give fintech and crypto firms limited access to its systems. The accounts would not earn interest, have no Fed credit, and face balance caps. Feedback closes 45 days after Federal Register publication, with launch targeted for the fourth quarter of 2026.

Ohio Representative Max Miller and Nevada Representative Steven Horsford are drafting a US House bill to create a tax safe harbor for cryptocurrency and stablecoin transactions. The proposal would exempt certain regulated stablecoins from capital gains tax and move crypto taxation closer to existing securities rules, potentially influencing market participation and digital asset adoption.

Inversion Capital CEO Santiago Roel Santos warned that prediction market products on platforms like Robinhood, Coinbase and Gemini could raise user liquidation risk and accelerate churn. He argued that these "casino-like" features may boost short-term revenue but undermine long-term value capture, as users who are fully liquidated leave the platform. Santos suggested fintech apps should instead focus on products that support users as they mature financially, such as credit cards, insurance and savings tools.

Ethereum's mainnet is currently handling between $90 billion and $100 billion in daily stablecoin transfers, with monthly volumes reaching as high as $2.82 trillion in October 2025. Over the past three months, Solana's on-chain SOL-USD activity has matched or exceeded the combined spot volumes of Binance and Bybit, as stablecoin markets on both chains grow and segment between USDT on Ethereum and USDC on Solana.

Shiba Inu has slipped back to price areas last seen in 2023 after failed rebound attempts across 2024–2025, while XRP is working to reclaim $2 as its bearish channel from October weakens. Bitcoin sits in the high $80,000s beneath $93,000–$100,000 resistance, and Kalshi pricing suggests a rapid return to $100,000 is unlikely in the near term.

On December 21st, trader Captain Faibik, known for previously calling a major Bitcoin price drop, argued that the recent crypto correction has ended and a new bull phase is approaching, with BTC potentially reaching $120,000. Analysts are also tracking altcoin strength via the Total 3 market cap and highlighting Ethereum, Solana, Chainlink, Ethena and Bitcoin Hyper as standout opportunities based on on-chain data, technical setups and institutional interest. Whale accumulation, ETF inflows and a $30 million Bitcoin Hyper presale are among the key metrics underpinning these bullish outlooks.

According to local reports on December 21, the Bank of Korea sent an official document to major banks outlining a second-phase CBDC pilot focused on testing government subsidy payouts in digital currency. The first phase, run with seven banks for three months, was suspended after criticism over limited utility and costs in billions of won.