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Project Overview
River is building a chain-abstracted stablecoin system, connecting assets, liquidity, and returns across multiple blockchains. Through its core stablecoin, satUSD, users can achieve returns, leverage, and scale across diverse ecosystems. River's key feature is its pioneering omni-CDP module, allowing users to collateralize assets on chain A and mint satUSD on chain B—all without requiring cross-chain asset bridging.
Robinhood, MetaMask, and other institutions jointly launched the On-Chain Trading Coordination Protocol (OTL).
According to PR Newswire, the Open Transaction Layer (OTL) officially launched on May 28 as an open industry initiative aimed at establishing a unified transaction coordination standard for on-chain finance. OTL defines shared protocols among institutions, non-custodial wallets, and AI agents for identity verification, messaging, and transaction coordination—covering the entire transaction lifecycle, including discovery, compliance, and settlement. The founding alliance comprises over 25 members, including leading financial institutions, payment service providers, and blockchain foundations such as Fireblocks, Checkout.com, Cross River Bank, MetaMask, Robinhood, Securitize, Wintermute, Solana Foundation, and Polygon. OTL’s technical specifications are built upon mature standards including W3C Decentralized Identifiers (DIDs) and ISO 20022, and adopt a modular five-layer architecture covering Identity, Session, Transport, Messaging, and Application layers. The specifications have been published under an open-source license at otl.network, and the alliance is also open to additional institutional participation.
Robinhood, MetaMask, and Others Join the OTL Initiative: Attempting to Solve the "Missing Coordination Layer" Problem for On-Chain Finance
: Multiple institutions including Robinhood, MetaMask, and eToro, along with Fireblocks, Checkout.com, Cross River Bank, Securitize, Wintermute, and others, jointly announced their participation in the "Open Transaction Layer (OTL)" initiative, aimed at establishing a unified transaction coordination protocol layer for on-chain finance.OTL is positioned as an open protocol stack for coordinating identity verification, compliance validation, transaction messaging, and execution processes among wallets, institutions, and AI agents, addressing the integration fragmentation problem currently plaguing cross-institutional interactions in on-chain finance, where entities operate in silos.The current coalition members include payment companies, trading platforms, wallets, market makers, and custody and stablecoin infrastructure providers, including Robinhood, MetaMask, eToro, MoonPay, SoFi, Wintermute, among others, as well as foundations from multiple public chains such as TON, Solana, Stellar, and Polygon. (Financefeeds)
U.S. Senator Sends Letter to Musk Regarding X Money, Questions Stablecoin Plan and User Protections
According to Cointelegraph, U.S. Senator Elizabeth Warren sent a letter to Elon Musk requesting clarification on X platform’s planned payment feature, X Money—including its stablecoin and cryptocurrency integration strategy—and warning that it could pose risks to the financial system and U.S. national security. Warren specifically questioned whether X Money would issue its own stablecoin under exemptions provided by the GENIUS Act, and whether users would be adequately informed that their funds are not covered by FDIC deposit insurance. The letter also noted that X Money’s test preview indicates it may offer a 6% deposit interest rate and that it is partnering with Cross River Bank—a bank previously subject to FDIC enforcement actions.
Robinhood, MetaMask, and other institutions jointly launched the On-Chain Trading Coordination Protocol (OTL).
According to PR Newswire, the Open Transaction Layer (OTL) officially launched on May 28 as an open industry initiative aimed at establishing a unified transaction coordination standard for on-chain finance. OTL defines shared protocols among institutions, non-custodial wallets, and AI agents for identity verification, messaging, and transaction coordination—covering the entire transaction lifecycle, including discovery, compliance, and settlement. The founding alliance comprises over 25 members, including leading financial institutions, payment service providers, and blockchain foundations such as Fireblocks, Checkout.com, Cross River Bank, MetaMask, Robinhood, Securitize, Wintermute, Solana Foundation, and Polygon. OTL’s technical specifications are built upon mature standards including W3C Decentralized Identifiers (DIDs) and ISO 20022, and adopt a modular five-layer architecture covering Identity, Session, Transport, Messaging, and Application layers. The specifications have been published under an open-source license at otl.network, and the alliance is also open to additional institutional participation.
Robinhood, MetaMask, and Others Join the OTL Initiative: Attempting to Solve the "Missing Coordination Layer" Problem for On-Chain Finance
: Multiple institutions including Robinhood, MetaMask, and eToro, along with Fireblocks, Checkout.com, Cross River Bank, Securitize, Wintermute, and others, jointly announced their participation in the "Open Transaction Layer (OTL)" initiative, aimed at establishing a unified transaction coordination protocol layer for on-chain finance.OTL is positioned as an open protocol stack for coordinating identity verification, compliance validation, transaction messaging, and execution processes among wallets, institutions, and AI agents, addressing the integration fragmentation problem currently plaguing cross-institutional interactions in on-chain finance, where entities operate in silos.The current coalition members include payment companies, trading platforms, wallets, market makers, and custody and stablecoin infrastructure providers, including Robinhood, MetaMask, eToro, MoonPay, SoFi, Wintermute, among others, as well as foundations from multiple public chains such as TON, Solana, Stellar, and Polygon. (Financefeeds)
Hut 8 to Invest $16 Million in Louisiana to Support AI Data Center Construction
According to PRNewswire, Nasdaq-listed Bitcoin mining company Hut 8 announced an agreement with West Feliciana Parish in Louisiana, U.S., to invest $16 million locally to support the construction of an AI data center. The funds will be used to expand the local water supply system for the River Bend AI Data Center campus.
Related news
Israeli military's massive attack on southern Lebanon leaves dozens dead or wounded
on June 9 local time, the Israel Defense Forces issued a statement saying that ground forces crossed the Litani River that day, continuing military operations in southern Lebanon. On the same day, Israeli Chief of Staff General Herzi Halevi stated that the military would escalate the scale of strikes against the Hezbollah armed group in Lebanon.Lebanon's National News Agency reported the same day that Israeli airstrikes targeting towns in southern Lebanon resulted in dozens of casualties. Hezbollah, in turn, issued multiple statements claiming that its fighters had struck several Israeli military targets. (CCTV International News)
KRW Stablecoin Alliance Accelerates Formation Amid Intensive Partnerships Between Banks and Fintech Giants
According to Yonhap News Agency, despite the absence of finalized legislation on the Korean won (KRW) stablecoin, major South Korean banks and fintech companies have accelerated efforts to form alliances. KB Kookmin Bank plans to collaborate with Toss, with KB taking the lead in issuance and Toss handling circulation; Shinhan Financial Group continues its collaboration with Samsung Financial; Woori Bank and NH Nonghyup Financial Group are currently considering Kakao’s partnership proposal; Hana Bank has already invested 1 trillion KRW in Dunamu and is jointly building South Korea’s largest stablecoin ecosystem with Naver. Meanwhile, the Bank of Korea is advancing the “Han River Project,” a pilot program for tokenized deposits. If this project launches rapidly, it could fuel claims that KRW stablecoins are unnecessary, further delaying related legislative progress.
Robinhood, MetaMask, and other institutions jointly launched the On-Chain Trading Coordination Protocol (OTL).
According to PR Newswire, the Open Transaction Layer (OTL) officially launched on May 28 as an open industry initiative aimed at establishing a unified transaction coordination standard for on-chain finance. OTL defines shared protocols among institutions, non-custodial wallets, and AI agents for identity verification, messaging, and transaction coordination—covering the entire transaction lifecycle, including discovery, compliance, and settlement. The founding alliance comprises over 25 members, including leading financial institutions, payment service providers, and blockchain foundations such as Fireblocks, Checkout.com, Cross River Bank, MetaMask, Robinhood, Securitize, Wintermute, Solana Foundation, and Polygon. OTL’s technical specifications are built upon mature standards including W3C Decentralized Identifiers (DIDs) and ISO 20022, and adopt a modular five-layer architecture covering Identity, Session, Transport, Messaging, and Application layers. The specifications have been published under an open-source license at otl.network, and the alliance is also open to additional institutional participation.
Robinhood, MetaMask, and Others Join the OTL Initiative: Attempting to Solve the "Missing Coordination Layer" Problem for On-Chain Finance
: Multiple institutions including Robinhood, MetaMask, and eToro, along with Fireblocks, Checkout.com, Cross River Bank, Securitize, Wintermute, and others, jointly announced their participation in the "Open Transaction Layer (OTL)" initiative, aimed at establishing a unified transaction coordination protocol layer for on-chain finance.OTL is positioned as an open protocol stack for coordinating identity verification, compliance validation, transaction messaging, and execution processes among wallets, institutions, and AI agents, addressing the integration fragmentation problem currently plaguing cross-institutional interactions in on-chain finance, where entities operate in silos.The current coalition members include payment companies, trading platforms, wallets, market makers, and custody and stablecoin infrastructure providers, including Robinhood, MetaMask, eToro, MoonPay, SoFi, Wintermute, among others, as well as foundations from multiple public chains such as TON, Solana, Stellar, and Polygon. (Financefeeds)
ESPORTS Drops 93% in a Day, ZachXBT Claims Same Entity Behind Market Manipulation of Multiple BSC Tokens
that, according to ZachXBT's monitoring, an entity previously received ESPORTS, RIVER, and LIGHT tokens through Sablier vesting contracts, which were directly linked to three signers of the LAB multi-signature wallet. These BSC tokens have been involved in market manipulation incidents on centralized exchanges. ZachXBT had previously flagged anomalies with LAB and RIVER. Earlier today, the ESPORTS token briefly dropped 93%. The CEX deposit addresses associated with this entity, as well as the LAB signer addresses, have been made public.
River holds 437 BTC, becoming the 9th largest private BTC treasury holder
U.S. Bitcoin-focused exchange River disclosed holding 437 BTC on its corporate balance sheet, making it the 9th largest private BTC treasury holder. It custodies over 25,000 BTC for clients and has a proven reserve ratio exceeding 100%. (BitcoinTreasuries)