According to CoinMeta, BBX indicates that yesterday, the global public market and licensed financial institutions delivered a highly impressive performance in the capital operations and settlement channels for crypto assets. Capital is no longer confined to single-dimensional spot trading; instead, it is leveraging preferred stock instruments to attract liquidity from traditional fiat currencies and establishing a global settlement loop through high-standard licenses and cross-border networks in emerging markets: Strive's 13% high-dividend preferred stocks, with a scale approaching $1 billion, strongly support its 24,531 BTC holdings. Gemini has obtained a license from the Singapore Financial Services Authority (MAS) for a large payment institution (MPI), securing a core hub for the circulation of fiat and digital assets in the Asia-Pacific region. OSL has joined hands with Waka to establish a stablecoin settlement channel for trade corridors between Africa and the rest of the world, deeply extending institutional-level dollar payment capabilities. The market is witnessing a clear dual evolution trend: "leading listed firms using high-dividend preferred stocks to build a low-friction mechanism for fiat financing and coin purchases" and "licensed financial giants accelerating their acquisition of global compliance licenses and stablecoin settlement networks in emerging markets."