Appold Market Watch - Week ending 29 May 2026
Market Update and Industry News - Week Ending 29 May 2026
🔷 Mastercard’s US transaction services unit has received a BitLicense from the New York State Department of Financial Services, allowing it to conduct regulated digital asset activities in the state. The firm plans to develop payment infrastructure focused on stablecoins and tokenised deposits, enhancing connections between traditional payment networks and blockchain transactions.
Appold view: While Mastercard does have some blockchain-related products, this news is refreshing in an unexpected way. Regulatory approval followed by a major rollout, not the other way around. In the blockchain industry, the modus operandi has always been to build first and let regulators catch up. With some regulations now firmly in place, we expect many more incumbent firms to follow Mastercard’s lead and continue to build on blockchain.
🔷 The Eurosystem released a report on extending T2 operating hours, aiming to improve liquidity management due to the growth of instant payments. The roadmap includes phased measures, beginning with short-term liquidity improvements.
Appold view: The Eurosystem is evolving. In their report, they state that feedback from the consultation shows an ever-increasing demand for extended operating hours. While not directly linked to blockchain technology, it is clear that this push has come from the development of instant payment solutions. Incumbent infrastructure has to be upgraded, and blockchain may have been the catalyst.
🔷 The Depository Trust & Clearing Corporation (DTCC) announced plans to connect its tokenisation service with the Stellar network by 2027, following a U.S. SEC No-Action Letter in 2025. This integration aims to enhance asset mobility, liquidity, and efficiency while ensuring investor protections, utilising Stellar’s public blockchain infrastructure.
Appold view: There are many blockchains the DTCC could have chosen; however, we did not expect it to be Stellar. This announcement shows that framing matters. Products purpose-built for institutional use cases are winning, and developers from major blockchains must recognise this and pivot if they want to stay competitive.
🔷 Thanks to contributions from major decentralised finance protocols and individuals through “DeFi United,” the restaking protocol KelpDAO has fully restored the backing of approximately 116,000 rsETH, valued at around $240 million, lost in a hack last month.
Appold view: Trust is, as it always will be, one of the main factors that companies and individuals will consider when deciding how to use their money. The work of DeFi United has been respectable in this case and has taken after traditional financial institutions, assisting one another when necessary. However, the damage to the DeFi Ecosystem is far from contained, and it will require stronger long-term evidence of success if they want more institutions to utilise DeFi.
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