Armada Daily Repo Summary Archive

2026-06-12

186 items scanned · 6 actionable · tap any headline to open its briefing

Regulatory & Enforcement

South Korea classifies tokenized stocks as securities, enabling capital gains tax by H2 2026

Securities classification of tokenized equities sets a cross-border precedent that could influence how US regulators treat tokenized collateral on Armada's crypto desk.

SEC proposal to repeal NMS rules seen as enabling DeFi trading of tokenized US equities

NMS repeal removing barriers to DeFi AMMs trading tokenized equities could broaden tokenized collateral liquidity, affecting crypto desk pricing and collateral velocity assumptions.

Tokenized Collateral

US risks ceding tokenization rulebook to foreign regulators as policy lags

Offshore regulatory drift could push tokenized T-Bill collateral infrastructure outside US jurisdiction, complicating crypto desk custody and legal enforceability under GMRA.

Figure acquires Kiavi to tokenize residential mortgage loans on blockchain

Tokenized mortgage collateral expanding via Figure's Provenance blockchain widens the non-Treasury crypto collateral universe relevant to crypto desk eligibility reviews.

Ethena Labs commits $250M to Securitize tokenized AAA CLO fund on Solana

A $250M allocation to a tokenized structured credit product on Solana signals growing institutional on-chain collateral volume directly relevant to crypto desk SOL and tokenized T-Bill exposure.

DeFi Benchmarks (Aave / Compound)

Aave V3 Risk Stewards tighten PT-srUSDe and PT-USDe E-Mode parameters ahead of June maturities

LTV and liquidation bonus adjustments on maturing Pendle PT positions on Aave V3 directly inform Armada crypto desk benchmark LTV calibration for USDe-correlated collateral.