September’s second week started a wave of strategic moves in the crypto sector, with leading exchanges, banks, and fintech firms forming partnerships and expanding services. From stablecoin rollouts in Africa to institutional custody collaborations and tokenization initiatives, these developments highlight the growing integration of digital assets into traditional financial systems.
Nasdaq has agreed to invest $50 million in Gemini, the crypto exchange created by Cameron and Tyler Winklevoss, just days before Gemini’s public debut. The funding, reported by CNBC and first noted by Reuters, is separate from the IPO, which seeks to raise up to $317 million when shares begin trading on Friday.
As part of the deal, Nasdaq will use Gemini’s custodial platform for institutional clients, while Gemini will distribute Nasdaq’s Calypso trade management system. Nasdaq characterized the collaboration as a step to expand its crypto services under an “open-ecosystem” strategy, saying it fits the type of venture structures the firm typically pursues.
The timing coincides with Nasdaq’s recent SEC filing to change trading rules for tokenized stocks and exchange-traded products. If approved, this would make Nasdaq the first major exchange to enable trading of tokenized securities—blockchain-based representations of real-world assets that don’t confer full ownership.
Gemini, founded in 2014, manages over $21 billion in assets and has positioned itself as a trusted player bridging traditional finance and digital assets. The Nasdaq investment highlights increasing institutional interest in crypto infrastructure as regulatory clarity continues to develop.
Bybit, the world’s second-largest crypto exchange by trading volume, has teamed up with Swiss-based Sygnum Bank to boost institutional-grade custody options. The partnership integrates Bybit into Sygnum Protect, the bank’s off-exchange custody platform, allowing institutional clients to keep assets securely off-balance sheet while trading.
Through Sygnum Protect, client balances are mirrored on Bybit, with profits and losses settled every eight hours. The procedure is meant to optimize capital efficiency and operational transparency without having funds transferred from a bank to an exchange for every trade. Sygnum noted that the custody platform currently supports exchanges that account for well over 50% of spot and derivatives volumes globally, providing multi-layered security, independent audits, and protection under Swiss banking law.
Bybit added another custody to its network, which already happens to comprise the likes of Fireblocks, Copper, and Cactus. Executives from each side said the arrangement “reflects a common vision on security, transparency, and a smoother user experience.” Bybit’s Yoyee Wang described managing counterparty risk as “essential for further institutional adoption,” while Sygnum’s Dominic Lohberger pointed to growing demand for “bank-grade, off-balance sheet custody solutions” among major exchanges.
The move underscores accelerating efforts to provide regulated, bank-backed safeguards for institutional crypto trading.
Ripple has gone deeper into its collaboration with Spain’s BBVA, the country’s second-largest bank from a capitalization perspective, building on work previously done with BBVA subsidiaries in Turkey and Switzerland. This expansion brings the Ripple regulated custody platform to Spain so that the bank can securely manage both institutional and retail crypto assets, in conformity with European regulations.
This move reflects the growing demand for compliant digital asset solutions and places BBVA competitively in the changing European crypto landscape. Observers note that the partnership further instills confidence in the MiCA framework, which came into effect in December 2024 and allows institutions some transition time-to-until July 2026-to comply with regulatory standards.
According to the experts, increasingly, banks will partner and adopt integrated blockchain infrastructure, thus decreasing the dependence on third-party custodians. The partnership knits together Ripple’s global regulatory footprint with BBVA’s extensive market reach to further enhance Spain’s position as the European gateway for bridging traditional finance with regulated crypto innovation.
Crypto.com has partnered with Axelar Foundation to provide secure institutional custody for AXL, the native token of the Axelar Network. The move strengthens Axelar’s treasury management and ensures robust support for validator incentives, ecosystem grants, and network operations.
Using Crypto.com Custody’s infrastructure, Axelar will manage its AXL holdings with enhanced security, streamlined staking, funding, and reserve management workflows. The arrangement also supports Axelar’s cross-chain ecosystem growth through strong compliance measures.
Crypto.com described institutional custody as “a critical component” of any digital asset strategy, emphasizing that its platform meets high standards of security and operational integrity. Axelar, known as a gateway to onchain finance, connects blockchains and financial institutions to facilitate tokenization, trading, and yield opportunities.
Axelar’s non-inflationary AXL token underpins network security and liquidity consolidation. The collaboration reflects growing demand for scalable, secure solutions that help institutions navigate emerging opportunities in global crypto markets.
KuCoin Pay is the payment initiator of KuCoin, the global cryptocurrency exchange, that joined hands with King Gift, a great digital gift card platform, to allow customers to buy gaming, entertainment, and retail gift cards using cryptocurrencies.
This set of transactions keeps things running smoothly, securely, and conveniently for anybody who wants to merge crypto with their day-to-day spending. KuCoin described this as a way to “make cryptocurrency more practical and inclusive,” concentrating on allowing the average person to actually make use of digital assets.
King Gift emphasized that accepting crypto gives customers more flexibility and faster transactions, complementing its instant delivery and worldwide accessibility.
This deal reflects the broader push to bring crypto into mainstream commerce. As an added bonus, users paying with KuCoin Pay on King Gift can earn 2% cashback on purchases until September 17, 2025, giving shoppers an extra incentive to try crypto payments in their daily routines.
Ripple has launched its USD-backed stablecoin, RLUSD, for African institutions through its partnerships with Chipper Cash, VALR, and Yellow Card.
The move is aligned with the growing trends of fintechs to use crypto for their global expansion and cross-border payments. Ripple’s stablecoin has already gained traction in enterprise use cases, including payments, tokenization, and collateral for both crypto and traditional markets.
Ripple integrated RLUSD into Ripple Payments, expanding stablecoin options for African customers. Chipper Cash, which serves five million users across nine African nations, called RLUSD “uniquely positioned” to advance institutional blockchain use across the continent. VALR, Africa’s largest crypto exchange, added that listing RLUSD supports its strategy to offer trusted, compliant stablecoins for institutional and retail clients.
The expansion follows Ripple’s broader global rollout of RLUSD, already listed on platforms like Archax, Bitso, CoinMENA, MoonPay, and Uphold. Ripple has also strengthened its infrastructure with acquisitions such as Rail and partnerships like its SBI collaboration in Japan.
Africa’s cross-border payments market—valued at $329 billion and projected to hit $1 trillion by 2035—stands to benefit from stablecoin adoption. Ripple’s new partnerships position RLUSD as a competitive alternative to traditional transfers, accelerating blockchain-based financial inclusion.
Binance partnered with Franklin Templeton, an investment firm with $1.6 trillion AUM, to launch new digital asset products and initiatives. The alliance brings together Franklin Templeton’s expertise in tokenizing securities and Binance’s global infrastructure and investor reach for trading.
The goal is to make capital markets more efficient, transparent, and faster, while opening up new opportunities for yield. Franklin Templeton executives emphasized that the partnership makes digital assets both “accessible and dependable,” moving tokenization from theory into practical use for settlement, collateral management, and portfolio building.
Both firms see blockchain as a tool to rethink traditional finance, not replace it. Binance pointed out that collaborating with Franklin Templeton allows them to make a bridge between the crypto and the traditional markets that can mutually benefit various investors. The partnership would work on practical, scalable solutions, bringing digital finance into the realm of everyday investment strategies, thus making institutional grade crypto-grade products to a wider pool of investors worldwide.
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