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Block 1: Essential news
Germany opens up to cryptocurrencies: Sparkassen and Deutsche Bank prepare their Bitcoin services
The German banking landscape is undergoing an historic shift. Sparkassen-Finanzgruppe, the country's leading mutual banking group, will offer the purchase of Bitcoin and Ether directly from its apps as from 2026. DekaBank, its investment arm, is already rolling out the infrastructure with Boerse Stuttgart Digital, based on a custody license issued by BaFin. At the same time, Deutsche Bank, the country's largest bank, is preparing a digital asset custody service in partnership with Bitpanda and Taurus SA. This aims to offer a secure vault for cryptocurrencies in a now favorable regulatory environment. German banking giants are thus taking a stand amid competitive pressure, regulatory changes, and growing demand from their customers. Germany could become the new European stronghold for crypto.
Mastercard and Bitget Wallet launch a fee-free crypto card in Europe
Mastercard is launching a new Web3 offensive: the payment giant is teaming up with Bitget Wallet to launch a fee-free crypto card with automatic conversion to fiat currency at the point of payment. Available in Europe and the UK, the card will enable users to pay for purchases directly from their cryptocurrencies, while complying with KYC/AML standards. Bonus: a cashback system and yield products will be offered to cardholders. A global rollout is planned, particularly in Latin America and Oceania. Mastercard is thus continuing its shift towards everyday crypto use, following its recent partnerships with Kraken, Circle and Chainlink.
Kazakhstan announces the creation of a state reserve in cryptocurrencies
The Central Bank of Kazakhstan is set to establish a national cryptocurrency reserve. The project, which is currently under review, could be inspired by the US model, where cryptocurrencies seized by the courts are added to public reserves. The country is also considering including assets from mining, a sector that is very active locally thanks to competitive electricity costs. According to the president of the Central Bank, this initiative is part of a state control strategy: only centralized management can ensure the security of digital assets. This is another step forward in Kazakhstan's crypto strategy, which will roll out its MNBC in 2025.
India is considering a strategic reserve in Bitcoin, following the example of the United States
After El Salvador and the United States, India is now considering establishing a national Bitcoin reserve. The debate has been brought to New Delhi by Pradeep Bhandari, a leading figure in the ruling BJP party, who is defending the idea of a digital asset capable of strengthening the country's economic resilience. He cites the example of Bhutan, which is already mining BTC to build up a reserve. Bitcoin, which is rare, programmable and accessible 24/7, is attracting more and more states as a strategic asset.
Block 2: Cryptic Analysis of the week
Robinhood unveils tokenization and shakes up global finance
Cannes, summer 2025. At the heart of EthCC, a major European Web3 conference, Robinhood electrified the audience with a series of announcements that mark a decisive turning point: the massive integration of blockchain into traditional brokerage services. And this time, it's not just a crypto publicity stunt. It may be the biggest leap toward the tokenization of real assets ever undertaken by a major platform.
Starting today, European Robinhood users can invest in more than 200 US stocks, ETFs, and even pre-IPOs such as OpenAI and SpaceX, in tokenized form, 24/7. These securities will first be issued on Arbitrum, a layer 2 (L2) blockchain, before migrating to Robinhood's own L2, which is currently in development.
In short, Robinhood is transforming its European app (which until now has focused solely on cryptocurrencies) into an all-in-one tokenized investment hub with no commissions, no spreads, and dividend payments. It's Robinhood 3.0, fully powered by blockchain. The markets have not remained indifferent: Robinhood ($HOOD) shares soared +11% during the day, reaching new highs above $90, an all-time record. The crypto industry is jubilant. The tokenization of stocks is no longer a dream, it is a tangible reality... just a few clicks away.
Thanks to the now finalized acquisition of Bitstamp, eligible European users will also have access to perpetuals with 3x leverage by the end of the summer, a first for such a mainstream player. But caution is still advised: the leverage and complexity of derivatives expose users to rapid losses, especially the less experienced. Robinhood is dangerously close to the territory of platforms such as Binance... but with regulation as a bonus.
And what about Americans? They haven't been forgotten. In the United States, Robinhood is taking advantage of the SEC's approval of crypto staking (in May 2025) to launch a long-awaited feature: customers in certain states can now stake ETH or SOL and generate returns completely legally.
Another new feature planned for the fall: Robinhood Gold cardholders will be able to automatically convert their cashback into crypto, if they choose. And that's not all: all crypto deposits made on Robinhood now benefit from a +1% bonus, or even +2% if total deposits reach $500m. Finally, Robinhood is adding a feature that is rare on traditional platforms: "tax lots." This allows US customers to choose the purchase price to associate with their crypto sales in order to minimize their taxes. It's a clever way to optimize capital gains without changing platforms.
Robinhood vs Coinbase: clash of the tokenized finance titans
Robinhood's announcement marks a strategic turning point, both for the company itself and for the crypto industry as a whole. Until now, Coinbase has reigned supreme as the icon of crypto-native innovation. But now a much more mainstream, much more regulated, and now equally ambitious competitor is upsetting the balance. But Robinhood is not alone. Kraken launched its own tokenized securities in May. But the real difference? Robinhood already has the customer base, the license, and the product online. A formidable lead.
Robinhood hasn't just launched tokenized stocks in Europe. It also has a major structural advantage: its status as an SEC-regulated broker. While Coinbase is still waiting for the green light to offer tokenized stocks to Americans, Robinhood could double down on everyone and become the first player to offer tokenized securities on a large scale within a relatively clear legal framework.
This regulatory head start, combined with a huge user base, gives Robinhood a virtually unlimited playing field. In Europe, liquidity is already beginning to organize around its new tokenized securities—which are better rated, more liquid, and deeper than on competing marketplaces.
But a revolution... full of blind spots
The model is already raising major questions. What about the actual ownership of the securities? Are users buying shares or digital representations? What happens in the event of a bug, fork, or blockchain hack? And above all: will investors be legally protected in the event of a dispute?
Robinhood claims to have legally framed the project through its European license in Lithuania and the acquisition of Bitstamp (MiFID regulated). But for many, the regulations surrounding tokenized securities remain unclear, even in Europe. And in the United States, the subject is downright explosive. There, these products have no clear regulatory framework—a risk that could block or delay wider adoption. Perhaps by trying to tokenize everything too quickly, without a harmonized regulatory framework, the company could also suffer from the growing pains of a sector that is still in its experimental phase.
So yes, the idea is powerful. The execution is bold. But finance is not so easily hacked. And if Robinhood fails to meet the technical, legal, and educational challenges, the dream of an on-chain Nasdaq could collide with the reality of a world that is still very much off-chain.
"First mover" or "first risk-taker"? The bet is on. To be continued.
Cryptocurrency rankings
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Price Chg Chg 5d Chg 1 y Capi. Entry date
Block 3: Readings of the week
Defusing the stablecoin time bomb (Project Syndicate)
A real cancer in Washington (The Atlantic)
