Robos & Wealth

Kraken has announced a partnership with Trust Wallet to integrate xStocks, its tokenized equities product, into the self-custody wallet. The integration will allow Trust Wallet users to buy 60 different xStocks using multiple fiat currencies and transfer them across blockchains including Solana, BNB Chain, TRON, and Ethereum. Backed will continue issuing xStocks as fully collateralized tokens, maintaining a 1:1 backing for each equity. Since their launch in June, xStocks have reached over $4 billion in combined exchange volume. The integration with Trust Wallet aims to broaden access to U.S. capital markets through tokenization. “Bringing xStocks to Trust Wallet places open and interoperable tokenized equities directly into the hands of millions, alongside the crypto, stablecoins and DeFi assets they already use every day,” Arjun Sethi, Kraken co-CEO. Kraken has partnered with a Circle affiliate to expand access to USDC and EURC on its platform, aiming to support on-chain financial applications. The collaboration seeks to increase stablecoin liquidity, reduce conversion fees, and provide euro-denominated EURC to users.

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Bloomberg has launched AI Portfolio Commentary, an AI-powered feature within PORT Enterprise, Bloomberg’s premium portfolio and risk analytics offering. The new feature uses AI to generate detailed explanations of return drivers, streamlining workflows and simplifying reporting across fixed income and equity portfolios. With built-in AI capabilities, PORT Enterprise now delivers contextualized portfolio summaries by combining a portfolio’s attribution data with media coverage from sources like Bloomberg News. This solution enables clients to quickly surface a summary of key performance drivers and relevant news, then shift their focus to more strategic, high-impact analysis. PORT Enterprise is used by investment teams at some of the largest asset managers and asset owners across the world as a primary portfolio analysis solution, utilizing its award-winning performance attribution and risk models. This release brings a top-down, granular analysis of allocation and selection decisions with a wealth of Bloomberg company-level data and news, and allows users to effortlessly generate performance attribution commentary with reliable and actionable insights. PORT Enterprise is a premium offering that provides more than 750 clients with sophisticated portfolio risk and return attribution capabilities with enhanced customization and batch reporting. Access to Bloomberg’s Multi-Asset Class Hybrid Performance Attribution model (MAC HPA) provides clients with a robust and flexible attribution solution catering to a wide variety of portfolio strategies. PORT Enterprise and RMS Enterprise are part of Bloomberg’s integrated investment management solutions.

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A global survey by Calastone of asset managers and decentralised finance (DeFi) providers reveals a $235 billion opportunity for tokenised funds, driven by a powerful convergence between traditional asset management and DeFi. Asset managers are turning to tokenised distribution as their fastest route into digital assets, while DeFi platforms are seeking tokenised money market funds to manage their treasuries and retain investor capital. This alignment highlights tokenisation as the bridge between two financial ecosystems that have until now operated largely apart. Sentiment shows that asset managers overwhelmingly favour working with technology partners and digital distribution platforms to reach this new market, rather than building in-house capabilities or going direct to investors. The study also surveyed DeFi and Web3 platforms to understand demand for tokenised products. Key findings included: Around 80% believe tokenised MMFs could improve treasury management; About 50% expect their tokenised holdings will rise by at least 25% by 2030; Over 75%say tokenised MMFs could help them retain client assets, while 40% believe they could attract new investors. Key Takeaways: Tokenised fund AUM is projected to grow from $4 billion in 2024 to reach $235 billion by 2029, a 58-fold increase; Nearly a third (28%) of asset managers plan to distribute tokenised funds by 2030, up from 13% who plan to do so in 2026; Money market funds (MMFs)and private asset funds were the most favoured asset classes for tokenization; Nearly two-thirds (65%) of managers who have already launched a tokenised fund report benefits over traditional models – including automation, improved liquidity, and the ability to reach new investors.

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Franklin Templeton announced it would expand its Benji Technology Platform to BNB Chain, signaling a stronger push into on-chain finance. The move links one of the world’s largest asset managers with a blockchain known for low fees, fast settlement, and a growing base of retail and institutional users. The Benji platform powers the Franklin OnChain US Government Money Fund (FOBXX), the first US-registered mutual fund to record share ownership and process transactions on a blockchain. Each share equals one BENJI token, which supports daily subscriptions, peer-to-peer transfers, and real-time net asset values. Franklin Templeton said adding BNB Chain helps the platform “meet more investors where they’re active” while keeping compliance and security at the center. By cutting gas fees and running more than 200 transactions per second, BNB Chain expects to lower barriers for both large allocators and smaller retail users. “Integrating with BNB Chain allows Franklin Templeton to be present where client demand is growing. It also positions us to be ready as the market evolves and interest grows for new types of products beyond what we’re doing with tokenized money funds,” Mike Reed, Senior Vice President and Head of Digital Asset Partnership Development for Franklin Templeton told. Franklin Templeton’s expansion to BNB Chain marks a move from testing to large-scale rollouts. Whether these products see broad uptake will depend on regulatory clarity, reliable infrastructure, and investor demand beyond safe-haven assets.

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Crypto trading firm Keyrock reports a significant surge in onchain asset management, with assets under management (AUM) increasing by 118% in 2025 to reach $35 billion. This growth is attributed to advancements in automated yield vaults, discretionary strategies, structured products, and credit. Keyrock forecasts that AUM could approach $64 billion by 2026 under a base case scenario, potentially rising to $85 billion if the current growth trend persists. Discretionary strategies have emerged as the leading segment, experiencing a remarkable 738% year-to-date increase, positioning onchain investing as a viable alternative to traditional finance.  The report points out that three protocols—Morpho, Pendle, and Maple—now account for 31% of the industry’s AUM, indicating both strong leadership in scaling and inherent concentration risks. Yield vaults remain the primary entry point for allocators, accumulating $18 billion in deposits. Despite a proliferation of smaller wallets, larger entities referred to as whales and dolphins account for 70% to 99% of the capital across various strategies.  In terms of performance, onchain asset management has matured to the point where net returns are competitive with traditional financial markets, although they are no longer consistently superior. Notably, automated yield vaults outperformed traditional finance peers by approximately 186 basis points after fees, while structured products and onchain credit fell slightly behind when costs were considered. Discretionary strategies have provided hedge fund-like results with the added advantages of enhanced liquidity and transparency. Recently, Keyrock expanded its operations into asset and wealth management by acquiring Turing Capital, a fund manager based in Luxembourg.

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eToro has launched crypto staking for its US users, giving clients the ability to earn monthly rewards on select tokens. The program reportedly starts with Ethereum (ETH), Cardano (ADA), and Solana (SOL), with plans to add more assets later. The feature allows customers to stake eligible crypto while maintaining control of their holdings. It expects to broaden the program to include additional cryptoassets in the future, building on its US digital asset offering. Commenting about the move, Andrew McCormick, the Head of eToro US, said: “eToro has simplified the staking experience for retail investors so they can enjoy monthly rewards without added complications.” eToro is eying expansion across different markets. It recently secured regulatory approval to provide crypto asset services in Germany under the Markets in Crypto-Assets Regulation. The license allows the company to operate in compliance with the EU’s new crypto framework, strengthening its presence in one of Europe’s largest financial markets.

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Binance has announced the launch of Crypto-as-a-Service, a white-label product aimed at financial institutions and brokerages. The platform is designed to let these firms offer crypto trading under their own brand while using Binance’s infrastructure. CaaS provides institutions with access to Spot and Futures trading, liquidity, custody, compliance, and settlement. Institutions keep control of their user interface and client relationships while reducing the cost and time needed to build crypto services independently. The service includes internalised trading, which lets institutions match orders between their own clients when best-price matching is possible. If internal liquidity is not sufficient, the platform connects directly to Binance’s global Spot and Futures order books. Institutions will also gain access to a management dashboard. It offers data on trading volumes, onboarding, asset flows, and trade distribution. Sub-accounts, commissions, and trading settings can be managed through the dashboard, which also supports API connectivity. CaaS comes with client management tools that allow institutions to segment customers, apply fee markups, and design trading experiences for different groups. Custody and compliance tools are integrated, including asset segregation, settlement, KYC, and monitoring APIs. Only selected licensed banks, brokerages, and exchanges will take part in this phase. Broader availability is scheduled for later in the fourth quarter. “Building crypto capabilities from scratch is complex, costly, and can be risky. That’s why we created Crypto-as-a-Service — a turn-key solution that provides institutions with trusted, ready-made infrastructure,” Catherine Chen, Head of VIP & Institutional at Binance.

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Affluent Americans are giving more and giving with purpose, even as fewer are giving. The newly released 2025 Bank of America Study of Philanthropy, conducted in partnership with the Indiana University Lilly Family School of Philanthropy, found that total charitable contributions from affluent donors have surged more than 30% since 2015. In 2024, their giving was 10 times higher than the latest available levels for the general population. Yet participation in giving is narrowing: 81% of affluent households made charitable donations in 2024, down from 91% in 2015. “This year’s study highlights a desire among affluent Americans to make a real difference — often in their own backyards — by combining financial contributions and active engagement,” said Katy Knox, President of Bank of America Private Bank. “It’s inspiring to see so many individuals committed to positive change.” The biennial study offers an in-depth look at the evolving philanthropic landscape among affluent households. This year’s report found volunteering is making a comeback, rising from 30% in 2020 to 43% in 2024. Volunteers aren’t just giving their time. They give more, with average donations more than double those of non-volunteers. Notable themes from the study include:

• Donors prioritize causes close to home. On average, affluent donors gave to five organizations in 2024, with 79% supporting their local communities. The causes to which the largest percentages of donors gave were basic needs (43%) and religious services/development (38%).
• A household-centered approach to giving. 46% of affluent households reported making charitable decisions jointly with their spouse or partner, while an additional 11% said they collaborate on some giving decisions. However, only 13% of donors report involving children, grandchildren or younger relatives.
• Religious organizations attract the highest share of dollars. 39% of affluent dollars donated were given to religious organizations, followed by causes focused on basic needs (16%) and higher education (14%).
• Strategic giving vehicles are on the rise. In 2024, 18% of charitable gifts were made through giving vehicles, up from 11% nine years earlier. 24% of affluent households have a giving vehicle, and 48% of affluent households with a net worth between $5 million and $20 million have or plan to establish a giving vehicle within the next three years.
• Giving with intention. Over 40% of affluent donors have a giving strategy, 45% have a giving budget and 20% actively monitor the impact of their gifts. 62% of those who consider themselves “philanthropic experts” evaluate the impact of their gifts.
• Expert givers give more. On average, those who identify as expert givers give more than six times more than those who identify as novices.
• Affluent donors have a variety of philanthropic identities. The study highlights five unique donor profiles: steadfast supporters, devout donors, entrepreneurs, changemakers and philanthropic experts.

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Serial fintech entrepreneur Bill Harris announced the launch of Evergreen Wealth, a digital Registered Investment Advisor (RIA) that provides tax-aware investment management and AI-powered financial advice to affluent and high-net-worth clients seeking to build long-term wealth. While many financial advisors and investment firms still focus on pre-tax returns, Evergreen Wealth seeks to maximize its clients’ net returns after paying the tax bill. Unlike ETFs and mutual funds, where every fundholder receives the same cookie-cutter product, Dynamic Portfolios contain hundreds of individual securities, which can then be hyper-personalized to match the goals of each client and tax-optimized across their entire portfolio. Evergreen Wealth employs multiple tax strategies, including direct indexing, to offset, reduce, defer, or, in some cases, even eliminate the taxes on their investments. For high-income taxpayers, particularly those in high-tax states, this “tax alpha” can be more consequential than the expected gains, if any, from trying to beat the market. Evergreen Wealth clients receive: Dedicated Advisor: Each client is assigned a licensed advisor, who is available via email, chat, phone or video conference. Evergreen Intelligence: A proprietary AI advice engine that draws upon a vetted investment, tax and financial knowledge base, as well as the secure, personal data of each client. Risk Management: Evergreen Wealth adheres to investment principles developed by Nobel laureates to achieve diversification designed to enhance each client’s risk-adjusted return. Dynamic Portfolio: A household portfolio that is hyper-personalized for the needs and preferences of each client and tax-optimized, which can deliver long-term tax savings. 24/7 Access: Evergreen Wealth’s desktop and mobile apps provide a comprehensive view of each client’s Evergreen Wealth portfolio and external assets, offering proactive insights and delivering immediate answers to their financial questions. Privacy and Security: Evergreen Wealth utilizes biometric security on all client accounts, complemented by state-of-the-art security procedures that are continuously monitored and regularly audited to safeguard the personal data of its clients.

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YELO Software, has launched its full-service offerings alongside YELOsphere Connect the first module of its proprietary, AI-driven private markets intelligence platform designed to help teams identify and connect with key players across private equity and portfolio companies. Private equity teams work in high-stakes, low-visibility environments. YELOsphere is built to change that — delivering verified data, strategic insights, and AI-driven foresight in three stages: 1) YELOsphere Connect (Live) – Accurate, CRM-ready contact data on PE and portfolio decision-makers. 2) YELOsphere Insights (2025) – A dynamic map of firms, sectors, and interconnections to reveal hidden opportunities. 3) YELOsphere Analytics (In development) – Interactive dashboards and predictive strategy tools, powered by AI. YELOsphere Connect enables investment and marketing teams to move faster with cleaner, more actionable data, powered by smart automation and AI-driven data validation. Continuously validated contacts across PE firms and portco executive roles; Smart filters by firm, title, sector, and investment profile; Decision-grade contact intelligence across investors and operators; Built to move teams from research to outreach, faster.

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