The Fed cut rates for the first time since last December, lowering its benchmark to 4.00–4.25%.
It is a cautious step, but one that changes the cost of capital and opens more room for risk across private markets, credit, and alternative assets.
While policy shifts at the top, the rails continue to move underneath.
Plume is adding privacy tools to institutional RWA tokenization.
Ondo has expanded its tokenized Treasury product onto Stellar, bringing yield-bearing assets into faster global payment networks.
And the Treasury is drafting stablecoin rules under the GENIUS Act, while Tether prepares a U.S.-based coin designed for compliance and domestic custody.
Each story reflects a different corner of the market, but the theme is the same.
Policy is easing, and the structure of capital markets is being rewritten, one cut, one token, one rule at a time.
🔧 INFRASTRUCTURE TEST
Fed Cuts Rates for First Time Since December
The Federal Reserve lowered its benchmark rate by 25 basis points to 4.00–4.25%, its first cut since December 2024. The move comes amid weakening labor market data and softer inflation readings. Markets expect additional easing later this year.
Why it’s a top read this week:
Cheaper capital shifts the landscape for allocators. Lower rates expand the window for risk, accelerating flows into private markets, tokenized assets, and alternative credit—the space where Deal Box builds rails.
📡 SIGNAL WE’RE WATCHING
Plume Adds Privacy Protocol for Institutional RWA Tokenization
Blockchain platform Plume has integrated Nightfall, a privacy-focused layer, to enhance institutional RWA tokenization. The move allows permissioned access while protecting transaction data, creating a bridge between compliance and privacy for enterprise use.
Why it’s a top read this week:
Institutions want both transparency and confidentiality. Tools like Nightfall bring tokenized RWAs closer to institutional standards, aligning with the compliance-driven structures that Deal Box develops.
📡 SIGNAL WE’RE WATCHING
Ondo Expands USDY to Stellar, Tokenizing Treasuries for Global Access
Ondo Finance has launched its yield-bearing USDY token on the Stellar network, extending tokenized U.S. Treasuries beyond Ethereum. The expansion makes Treasury-backed yield accessible through faster, global payment rails.
Why it’s a top read this week:
Tokenized Treasuries are proving to be the anchor asset of on-chain finance. Ondo’s expansion shows how real-world yield is being distributed across networks, exactly the kind of liquidity Deal Box packages for investors.
📡 SIGNAL WE’RE WATCHING
Treasury Advances Rulemaking for Stablecoins Under GENIUS Act
The U.S. Treasury has opened a public comment process on stablecoins as part of implementing the GENIUS Act. Key issues include reserve management, compliance frameworks, and preventing illicit use.
Why it’s a top read this week:
Stablecoins are moving from policy debate to regulatory detail. For Deal Box, this marks progress toward stable, compliant rails that can support tokenized markets at scale.
📡 SIGNAL WE’RE WATCHING
Tether to Launch USAT, a U.S.-Based Stablecoin
Tether announced plans to issue USAT, a U.S.-based stablecoin designed to comply with the GENIUS Act. It will be issued through Anchorage Digital Bank, with reserves custodied by Cantor Fitzgerald.
Why it’s a top read this week:
Stablecoin issuance is shifting onto U.S. soil with regulatory guardrails. For institutions, that means credible custody, transparent reserves, and a pathway to adoption within existing capital markets infrastructure.
Next stop: Honolulu.
The Deal Box Innovation Forum is officially headed to Hawaii. 🌺 Your feedback helped shape the plan, and now we’re finalizing the details, venue, dates, and agenda.
We’ll share the full announcement in the coming weeks.
That’s it for this week.
Thanks for reading the latest Dispatch. If you made it this far, you’re part of the shift. 🌊
See you next week—with more plays worth tracking.
— Thomas