Wall Street · JPMorgan · U.S. Treasury · CryptoSlate
Crypto wanted to replace Wall Street, Instead, Wall Street took over crypto
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Crypto was founded on a simple premise: people should be able to send, hold, and manage money without going through a bank.
Key facts
- By April 2026, that pilot had expanded to nine blockchains and a $7 billion annualized run rate
- Bitcoin is +1.52% over the past 24 hours and currently sits at rank # 1 by market cap
- And this isn't a pilot project confined to an innovation lab: Kinexys has processed more than $3 trillion since its 2015 launch and now averages billions of dollars in volume daily
- BlackRock's tokenized Treasury fund holds roughly $2.4 billion in assets, with two more products of the same kind already filed with the SEC
Summary
01 JPMorgan, BlackRock, Visa, and Mastercard are using blockchains and stablecoins to move and settle institutional money. 02 The shift matters because crypto rails are now embedded in finance, making blockchains useful without changing the user experience. 03 The unresolved tradeoff is clearer control and compliance versus the self-custody and decentralization crypto originally promised. JPMorgan now settles payments in its own deposit token on a public blockchain.