The crypto sector saw several notable developments today spanning sovereign Bitcoin holdings, institutional infrastructure and regulated digital-asset trading. El Salvador clarified the source of its recent Bitcoin accumulation, Kraken parent Payward expanded its partnership with SoFi, and Standard Chartered introduced spot Bitcoin and Ether trading for institutional clients in the UAE.
El Salvador Says Recent Bitcoin Additions Were Privately Funded
El Salvador’s Bitcoin holdings increased after its first review under the International Monetary Fund (IMF) program, but the Fund says the accumulation did not involve government money.
According to an IMF statement, Salvadoran authorities provided documentation showing that Bitcoin added after the first program review in June 2025 came from private donations rather than public funds.
The clarification addresses questions surrounding changes in wallets associated with El Salvador’s Bitcoin reserves. The IMF said the reported increase should therefore not be interpreted as additional government-funded purchases.
The Fund also disclosed that majority ownership and operational control of the Chivo wallet have moved to a private operator. The Salvadoran government continues to hold a minority interest and remains responsible for certain custodial functions.
The IMF further said that no additional Bitcoin accumulation beyond the documented private donations is expected.
The development follows El Salvador’s earlier announcement in November 2025 that it had acquired approximately 1,090 BTC for around $100 million, which had raised questions about the country’s obligations under its roughly $1.4 billion IMF financing program.
Payward and SoFi Expand Their Institutional Crypto Partnership
Kraken parent company Payward is strengthening its connection with traditional financial infrastructure through a new partnership with SoFi.
Under the arrangement, SoFiUSD will become available through Kraken, while Payward will gain access to the SoFi Exchange Network. The collaboration is intended to provide Kraken’s institutional and business customers with access to 24/7 US dollar settlement capabilities.
SoFi is also expected to use Kraken Prime as an additional source of digital-asset liquidity. The companies could potentially expand the relationship to include qualified custody services in the future.
The agreement represents another step in Payward’s broader push beyond conventional cryptocurrency exchange services.
Earlier developments have included reported cooperation with the London Stock Exchange Group on tokenized UK equities through LSE 24, a planned trading venue expected to begin operating in 2027.
Kraken has also expanded into tokenized equities through xStocks, a platform developed by Backed Finance. The exchange has used the infrastructure to provide eligible customers with exposure to tokenized shares connected to companies preparing for major public-market events.
The moves highlight the growing overlap between traditional financial markets and blockchain-based settlement infrastructure.
Standard Chartered Introduces Spot BTC and ETH Trading in UAE
Global banking giant Standard Chartered has launched spot Bitcoin and Ether trading for institutional customers in the United Arab Emirates.
The service is being offered through the bank’s entity regulated by the Dubai International Financial Centre (DIFC) and is integrated into Standard Chartered’s existing electronic trading infrastructure.
According to the bank, the launch makes it the first global bank to provide institutional digital-asset trading in the region, as well as the first global systemically important bank to offer a comparable service there.
Eligible institutional clients can trade Bitcoin (BTC) and Ether (ETH) through the bank’s established electronic trading channels rather than relying solely on standalone cryptocurrency exchanges.
The move builds on Standard Chartered’s existing digital-asset presence in the UAE. The bank launched regulated crypto custody services in the country in September 2024.
In June, Standard Chartered also entered into a banking arrangement with CoinMENA, supporting fiat deposits and withdrawals, client-money accounts and virtual-account transaction services for the crypto platform.
Traditional Finance Continues Moving Deeper Into Crypto
Taken together, the three developments highlight a broader shift in the digital-asset industry.
El Salvador’s latest disclosure demonstrates how governments are navigating Bitcoin ownership and international financing conditions, while Payward’s partnership with SoFi shows cryptocurrency infrastructure increasingly connecting with traditional financial networks.
Standard Chartered’s UAE launch adds another layer, demonstrating that major global banks are gradually incorporating regulated spot crypto trading into their institutional offerings.
The trend suggests that the next phase of crypto adoption may increasingly revolve around the integration of digital assets with existing banking, settlement, custody and capital-market infrastructure rather than standalone cryptocurrency markets.
