The Boring Company raised $3 billion in a Series D round at a $23 billion valuation, led by the United Arab Emirates, as Elon Musk's tunneling venture pushes to dig mass underground infrastructure across the Gulf.

The UAE and affiliated investment entities anchored the round, joined by Sequoia, a16z, Temasek, Vy Capital, Valor Equity Partners, Baron Capital, Human Capital and Shamal Holding. The capital funds more than 150 kilometers of tunnel across the Emirates, accelerates the Dubai Loop, and expands the Las Vegas Loop plus a new Music City Loop in Nashville. The Dubai Loop begins with a 6.4-kilometer pilot of four stations, with construction starting late 2026.

The Vegas Loop, the company's flagship system, already counts 123 entitled stations and has carried more than 4 million passengers. "Defeating traffic is the ultimate boss battle," Musk said, framing the raise as fuel for a global build-out that turns short tunnel pilots into metro-scale networks.

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Real Technologies published a MiCA whitepaper for $ASSET, the token from tokenized-assets platform Real Finance, and it now appears in ESMA's Interim MiCA Register across all 30 EEA markets.

The whitepaper gives $ASSET a single, standardised MiCA disclosure for the whole European Economic Area, a formal reference that exchanges, institutions and other market participants can use to evaluate the token and support its admission to trading.

Real Finance pitches itself as institutional infrastructure for tokenized real-world assets, anchored by Austria's Wiener Privatbank and using Anchorage Digital for custody.

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PayPal launched PYUSDx, a platform that lets businesses create custom stablecoins backed by PayPal USD (PYUSD), expanding PayPal’s stablecoin infrastructure beyond its own branded token.

PYUSDx was built with stablecoin infrastructure provider M0 and crypto payments firm MoonPay. The platform has launched with Saturn, Concrete and Cap, which collectively bring more than $100M in processed volume.

The platform combines M0’s stablecoin technology with MoonPay’s issuance and distribution infrastructure, allowing businesses to launch their own stablecoins while leveraging PYUSD as the underlying backing.

Additional projects including USD AI and Fairblock are also joining the platform.

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Block has applied to the OCC to establish Builders Bank & Trust, an uninsured national trust bank focused on custody and fiduciary services for Bitcoin and stablecoins.

If approved, the bank would provide a federally regulated framework for certain digital asset custody activities already offered by Block. It would not accept deposits or make loans, with Block’s digital asset strategy lead Lee Woolley set to serve as CEO.

Block joins a growing wave of fintech and crypto companies seeking federal bank charters as the U.S. regulatory environment becomes increasingly supportive of digital asset infrastructure.

Coinbase, Ripple, Circle and other firms are also pursuing or operating under federal banking frameworks.

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Nasdaq's venture arm is investing $100 million in Payward, the parent of crypto exchange Kraken, in a deal that values the company at $21 billion and expands a tokenization partnership the two struck in March.

The capital deepens a plan to build an equities transformation gateway powered by Kraken's xStocks, letting tokenized shares move between Nasdaq's regulated, permissioned markets and permissionless public blockchains in eligible jurisdictions. Under the arrangement, Kraken serves as the primary settlement layer for Nasdaq's planned equity tokens and as the distribution partner outside the US, while Payward Services handles KYC and AML onboarding. Nasdaq expects the equity-token design to go live in the first half of 2027, pending regulatory sign-off.

xStocks has already cleared over $40 billion in volume since June 2025 across more than 200,000 holders, and the London Stock Exchange plans to tokenize 100 London-listed companies on the same rails.

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One lending position, every chain. Soul pools Aave, Compound, Morpho and Venus into a single market, so you borrow and lend across five networks without bridging.

Cross-chain actions settle through LayerZero, while staking SO boosts your yield on top. It's a single liquidity layer that makes multi-chain lending feel like one chain.

a16z crypto released Lattice Jolt, a new version of its open-source Jolt zkVM that rebuilds the cryptography on lattices instead of elliptic curves, making it post-quantum without slowing down.

The switch replaces Jolt's old Dory commitment scheme with Akita, a lattice-based scheme built on Module-SIS, the same assumption family behind NIST's ML-DSA and ML-KEM standards, developed with LayerZero, Carnegie Mellon and USC, targeting a full 128 bits of security. Because lattices reach comparable security over 128-bit fields instead of 256-bit ones, the prover and verifier run 2 to 3 times faster: over 2 million RISC-V cycles per second on a laptop CPU, and more than 10 million on a MacBook GPU via Apple Metal. Its proofs are the shortest of any post-quantum zkVM, under 100 KB, which makes onchain verification cheaper.

Most post-quantum SNARKs in production today are hash-based; Lattice Jolt argues lattice-based ones can be both faster and more compact, mirroring how digital signatures have already shifted toward lattices. Jolt stays open-source, letting developers prove ordinary programs rather than hand-crafted circuits.

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Pump.fun introduced Custom Pairs, letting token creators launch coins paired with tokenized stocks, crypto majors and metals on Solana, not just SOL or USDC.

The feature brings 20 brand-new asset pairs to Solana through a partnership with Sunrise, spanning tokenized equities like BA, BABA, COST, DELL, DJT, HIMS, IBM, JNJ, LMT, LULU, MGM and PFE, alongside crypto majors and metals. Pump.fun pitches more variety, deeper liquidity and lower fees than rival launchpads. Pairing a token to a tokenized stock only mirrors that asset's price, though: holders get no claim on the real shares, no dividends and no voting rights.

The move pushes Pump fun past pure memecoins into the fast-growing tokenized-stock narrative, and lands amid a wave of stock-paired launchpads, from Robinhood Chain's PAIR and Long xyz to Solana rivals like StonkFun, all betting community tokens will trade against equities instead of gas coins.

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StoneX analysts see further upside for Robinhood, raising their price target as the company continues expanding across crypto, equities and prediction markets.

The analysts highlighted Robinhood’s growing transaction activity, crypto adoption and expansion into new financial products as key drivers for future growth. The company’s blockchain strategy and increasing onchain activity also strengthen its position as it moves deeper into crypto infrastructure.

StoneX expects Robinhood’s broader product ecosystem and increasing user engagement to support continued revenue growth, with the firm maintaining a bullish outlook despite the stock’s strong recent performance.

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Robinhood Chain generated a record $6M in daily fees on September 4, while weekly DEX volume reached $12.4B, more than double the previous week's total.

Chain fees totaled approximately $25M over the seven days through September 4, up from just $1.4M the previous week. Despite average daily active accounts falling to 396K, fees per active account surged from $0.13 in mid-August to $15.90 in early September.

The surge is largely driven by Pons, Robinhood Chain's leading token launchpad. Pons generated nearly $6M in fees on September 3, while its PONS token briefly reached a valuation above $970M.

Around 80% of Pons' revenue is used for token buybacks, with more than 28% of the token supply already burned.

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