News Roundup — Tokenised real estate gains ground in the GCC

Major news stories this week;

1. Elon Musk Says America Party Will Embrace BTC as 'Fiat Is Hopeless'
2. Tokenised real estate gains ground in the GCC
3. US Republicans declare ‘Crypto Week’ to mull 3 crypto bills
4. Circle Applies for US Trust Bank License Following $18 Billion IPO
5. Ripple applies for US national bank charter as crypto eyes next frontier

Story Summaries;

1. Elon Musk announced plans to form a centrist, pro-tech political group called the "America Party," which will embrace Bitcoin and focus on congressional races instead of the presidency. The party emerged from a split with President Trump over the "Big Beautiful Bill," which Musk criticized as fiscally reckless, calling it the "debt slavery bill."
2. Real estate tokenisation is gaining momentum in Qatar, Saudi Arabia, and the UAE, with regulators supporting legally recognised frameworks for fractional ownership using digital tokens to improve liquidity, transparency, and investment access. Recent pilot projects in these countries reflect efforts to modernise the property sector, attract global investment, and position the GCC as a hub for digital asset innovation.
3. U.S. House Republicans have declared July 14–18 as “Crypto Week,” during which they will consider three major crypto-related bills: the CLARITY Act (crypto market structure), the GENIUS Act (stablecoin regulation), and the Anti-CBDC Surveillance State Act (banning government-issued digital currencies). The initiative aligns with former President Trump’s pro-crypto agenda, though Democrats have voiced opposition, particularly due to Trump’s personal involvement in the crypto industry.
4. Following its $18 billion IPO, Circle has applied for a U.S. national trust bank charter to self-custody USDC reserves and expand digital asset services for institutional clients under the name First National Digital Currency Bank, N.A. The move aligns with pending federal stablecoin legislation and aims to strengthen Circle’s position as a key bridge between traditional finance and the digital asset ecosystem.
5. Ripple has applied for a U.S. national bank charter and a Federal Reserve Master account to enhance payment settlement efficiency and directly custody reserves for its stablecoin, RLUSD, as it seeks deeper integration with the traditional financial system. The move follows similar efforts by Circle and comes amid growing regulatory clarity driven by the recent Senate passage of the GENIUS Act, which is expected to support broader stablecoin adoption.
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And that’s all for last week’s news! Wishing you a great week ahead!