Crypto18 August, 20262 min read
FASB Proposes Guidance Allowing Certain Stablecoins to Qualify as Cash Equivalents
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FASB proposes guidance to treat certain fully backed stablecoins as cash equivalents under US GAAP. Proposal would allow redeemable stablecoins to qualify as cash equivalents.
Stablecoins as Cash
The Financial Accounting Standards Board proposed new accounting guidance that could allow certain stablecoins to qualify as cash equivalents under US generally accepted accounting principles. The proposal says stablecoins could qualify if they are backed by liquid reserves at least equal to the value of tokens in circulation, provide annual disclosure of those reserves, and can be redeemed for US dollars on demand. FASB said the proposed amendments would clarify how the existing definition of cash equivalents applies to certain digital assets, addressing uncertainty that can lead companies to use different accounting treatments for stablecoins.
FASB, which began developing crypto specific accounting guidance in 2023, said the change would place qualifying stablecoins alongside other highly liquid assets commonly treated as cash equivalents, including US Treasuries, commercial paper and money market funds. The proposal remains subject to public feedback and has not been finalized, with comments open until November 19.
Canton Swap Engine
Interstice Digital launched a cross-chain swap engine with FalconX connecting the Canton Network with Ethereum, Solana and Robinhood Chain. The announcement said the non-custodial engine allows assets to be swapped across the four networks without Interstice taking custody or executing transactions on users’ behalf. FalconX, described as a digital asset prime brokerage serving institutional investors, provides liquidity for the engine, which is designed to connect Canton’s institutional markets with assets and trading activity on public blockchains.
Interstice Digital said the Canton ecosystem processes more than $9 trillion in tokenized real-world asset flow each month, and it positioned the product as infrastructure for institutions that need to move digital assets across blockchain ecosystems while maintaining a focus on compliance. The launch was also framed as a Featured App on the Canton Network, and the swap engine was described as non-custodial, meaning Interstice Digital does not take custody of assets or execute transactions on behalf of users.
Network Scale and Partners
Interstice Digital cited figures for the connected ecosystems, saying Robinhood Chain reached 100 million transactions faster than any other EVM network and serves approximately 28 million funded accounts with $369 billion in total platform assets. For Solana, Interstice Digital said it recorded 167 million monthly active addresses in April 2026, an all-time high for the network, and that the blockchain processed $650 billion in stablecoin transaction volume during February 2026. Interstice Digital also said Ethereum remains the underlying base layer for Robinhood Chain, and it described the swap engine as attempting to reduce fragmentation between institutional tokenized asset infrastructure and broader digital asset markets.
“As institutional demand for digital assets grows, the firms that win will be the ones who can move capital across ecosystems without friction.”
In the partnership’s messaging, Interstice Digital CEO Janine Yorio said, "We built the cross-chain swap engine to help connect Solana, Ethereum, and Robinhood Chain to the growing Canton ecosystem where over $9T in tokenized RWA flow monthly." FalconX’s head of trading strategy Hassan Bassiri added, "As institutional demand for digital assets grows, the firms that win will be the ones who can move capital across ecosystems without friction."