Broadridge, the New York-listed fintech company, announced that its distributed ledger repo (DLR) platform processed over $8 trillion in transactions during July, according to The Block. That amounts to roughly $365 billion in average daily volume, up 28% year over year. The platform lets companies settle repo trades using distributed ledger technology within their existing trading and post-trade environments, supporting real-time financing and the movement of tokenized collateral. Alongside the repo platform, Broadridge also offers on-chain proxy voting and governance services and manages digital asset infrastructure for its clients.

The SEC has declared effective Securitize's S-4 registration statement, clearing the final regulatory barrier for its SPAC merger with Cantor Equity Partners II, paving the way for a NYSE listing under the ticker SECZ.

Broadridge said its DLR platform processed $7.5 trillion in repo volume in June, with average daily activity of $357 billion, up 68% from a year earlier. Aggregated DLR data is also now available on Bloomberg Terminal via Kaiko.

Broadridge's DLR platform processed $7.2 trillion in repo transactions in May, with average daily volume of $362 billion, up 220% YoY. The milestone underscores tokenization's shift from pilots to core institutional finance.

Morgan Stanley initiated coverage on three listed bitcoin miners, rating Cipher Mining and TeraWulf Overweight while assigning Marathon Digital an Underweight. The firm’s thesis centers on valuing some mining sites as contracted data center infrastructure.

Morgan Stanley initiated coverage on three publicly traded bitcoin miners, rating Cipher Mining and TeraWulf Overweight while assigning Marathon Digital an Underweight rating. The bank’s thesis centers on whether mining sites can be revalued as long-term leased data center infrastructure rather than pure bitcoin exposure.

Morgan Stanley initiated coverage on three publicly traded bitcoin miners on Monday, assigning Overweight ratings to Cipher Mining (CIFR) and TeraWulf (WULF) while giving Marathon Digital (MARA) an Underweight rating. Analyst Stephen Byrd argues that certain miners are better valued as infrastructure plays rather than pure crypto bets, comparing their data center leases to REITs. Cipher is seen as the prime example, TeraWulf also scores with data center leasing experience, while Marathon’s hybrid approach and dependence on bitcoin price earn it a cautious stance. The coverage comes amid a broader debate on whether miners should pivot from proof-of-work to AI and high-performance computing data centers.

Morgan Stanley initiated coverage of three publicly traded bitcoin miners on Monday, assigning Overweight ratings to Cipher Mining (CIFR) and TeraWulf (WULF) while giving Marathon Digital (MARA) an Underweight rating. Analyst Stephen Byrd set price targets of $38 for Cipher and $37 for TeraWulf. The thesis focuses on transforming mining sites into data center assets that can generate stable, long-term cash flows like REITs, de-emphasizing pure bitcoin exposure. Cipher and TeraWulf are favored for their data center capabilities and management experience, while Marathon is faulted for its hybrid model, limited hosting history, and heavy reliance on bitcoin prices. The coverage reflects a broader trend of bitcoin miners pivoting from proof-of-work mining to AI and high-performance computing data centers.