Cantor's Weekly Crypto Brief

Research evidence excerpt

Cantor's Weekly Crypto Brief

July 12, 2026

onchain settlement, and daily prorated interest accrual. The initiative builds on

Metaplanet’s pending acquisition of Siiibo Securities, which is set to change its

trade name to Metaplanet Securities on July 13, and combines Metaplanet’s Bitcoin-

centered product strategy and prospective distribution capabilities with JPYC’s

stablecoin settlement functions and Progmat’s broader security-token issuance,

rights-management, and holder-administration infrastructure. The announcement

highlights that Japan's corporate bond market is dominated by public offerings

from large issuers, with mid-sized and growth companies effectively being priced

out by the administrative costs of issuance, distribution, investor management, and

debt servicing—headwinds which blockchain tokenization could help credit markets

address. While still exploratory and with no concrete issuance plans, we think the

study provides the clearest evidence yet that Project Nova is moving from a broad

Bitcoin-native financial-platform strategy toward a tangible product architecture

combining Bitcoin-backed credit, securities distribution, stablecoin settlement, and

third-party tokenization infrastructure.

Hyperliquid Policy Center Responds to CFTC Request on Future Market Regulation.

The Hyperliquid Policy Center and Phantom submitted a joint response to the CFTC's

request for information, proposing a regulatory framework that would allow on-chain

infrastructure to support regulated derivatives markets. The filing asks the CFTC to

distinguish software developers and non-custodial wallet providers from regulated

financial intermediaries while establishing a pathway for registered exchanges and

clearing organizations to utilize blockchain-based infrastructure.