Daily Market Wrap | Oct. 16

France’s Lise secures a DLT license to launch Europe’s first tokenized stock exchange, merging trading and settlement for SME IPOs starting in early 2026.
Visa aims to build infrastructure for "onchain finance," rebranding DeFi, to connect banks to a $670B stablecoin lending market without issuing tokens or funding loans.

Bitfarms announced a $300M convertible notes offering due 2031, with shares down 4% pre-market, despite a 315% YTD surge from its AI/HPC pivot.
Paxos mistakenly minted $300T of PayPal’s PYUSD on Ethereum but quickly reversed it via a burn mechanism, with no security breach or customer fund risks.
Monad opened its MON airdrop portal for 5,500 core and 225,000 crypto users to check eligibility before the token launch, based on on-chain and off-chain activity.

Policy and Regulation