📜 A Treasury-Backed Future?

RWA World Newsletter - May 30, 2025

Author

Ray Buckton
May 30, 2025

As the late, great David Icke once said: “If you can believe it, it’s a Friday, once again!” 

Ray Buckton, Head of Research at RWA World, also here once again to cover the best of tokenzied assets with you. 🤝

However, tokenization is impossible without good data, and to understand how and why, you’ll want to read the latest report authored by SEDA and RWA World. Dive in to grasp how high fidelity data and oracles are redefining the $50B financial data industry. ✨

🎯🔥 Rapid Fire Takeaways:

Tokenized treasuries are the talk of the town – $7 billion and growing fast, led by Ondo Finance, as the WEF calls tokenization the next generation of value exchange. 📈

Want to discuss it live? Join us on Tuesdays and Thursdays at 2 pm EDT at Wolf Crypto – where live panels discuss asset tokenization and RWA topics that define the industry. 🐺

👛 Stablecoins, In This Economy?

Ahh, stablecoins. The golden child of tokenization – even Senator Warren is on board with legislation, as US banks discuss a joint stablecoin venture. It’s not just US banks, either. SocGen will soon introduce its dollar-denominated stablecoin on Ethereum, while DBS and Standard Chartered are collaborating on a Singapore dollar-pegged asset. 🏛️

Euros are also in vogue, with Schuman Financial launching a MiCA-compliant euro stablecoin on XRPL, and Fireblocks tapped to power Next Generation’s EUR digital asset launch. South Korea’s presidential front-runner also wants a won-based stablecoin, while Brazil is less enthused. Their central bank views the asset class as fueling volatility, despite Binance Pay integrating with Pix for payments nationwide. Binance is hedging its bets, though – it listed World Liberty Financial’s USD1. 🌐

But what’s up with Circle? Rumor had it that they were seeking to be acquired, but that was denied, and they’re now discussing an IPO – all while launching a cross-border payment network. It appears Onramper Partners has received the message, partnering with Opera to expand payments, as DeFi Technologies enters RWA through a partnership with Fire Labs and Kraken. ⚪

🚂 Tokenzied Assets on TradFi Rails

Tokenized funds are hot right now, with BounceBit achieving a 24% yield using BlackRock’s BUIDL as collateral. Speaking of BlackRock, they’re launching another $100 million tokenized fund on Ethereum while BNP Paribas AM is tokenizing MMF shares. Our friends at VanEck are preparing their own Avalanche-based tokenized fund, as Kraken kicks off 24/7 trading of tokenized stocks (for non-US investors, of course). 📚

Brickken is doing great work with their EIP-7493 and partnership with Ozean to expand DeFi access to RWAs. CEO Edwin Mata is a regular panelist on Wolf Crypto, by the way – make sure to listen in to learn about the awesome stuff they’re working on. 🏘️

Switzerland’s 21X is also working hard, tokenizing a UBS fund plus starting primary market operations in the EU DLT Pilot Regime. Lugano is also working with SIX to issue digital bonds on SDX. Meanwhile, in the Middle East, QFC is exploring realty tokens and the securitization of Islamic finance. It makes sense to start with land – the Dubai Land Department is already tokenizing land deeds on XRPL. 💥

🔬 Blockchain Eco and Infra

Solana is quickly emerging as a powerful contender for the tokenized asset crown. Chainlink’s CCIP is now officially live on the chain, while Apollo is launching a $785 million tokenized credit fund in collaboration with Drift Institutional and Kamino Finance. R3 is also partnering with Solana as Coinbase veterans chose the ecosystem for their stablecoin-native DeFi app after raising $11 million. To top it all off, Solana-based OnRe is working with Ethena for its first reinsurance pool. 💜

On the infrastructure front, Fnality integrated with OSTTRA FX PvP for faster payments, Wormhole chose New York City as its new home, and Mantle is forming a strategic partnership with Republic Technologies for mETH integration. This is all happening as Quant rolls out its programmable money and Microsoft adds real-time blockchain data to its Fabric platform via a Space and Time integration. 🔌

⚖️ Regulation and Institutions

Rules matter in tokenization, and the SEC is considering relaxing retail access to private funds, and Robinhood’s letter to the agency could bring Wall Street on-chain. The BIS and NY Fed are testing smart contracts for tokenized monetary policy with the IIF and ICMA urging the Basel Committee to reconsider its crypto rules. The regulatory race for tokenization is officially heating up. 🔥

In Hong Kong, a new stablecoin bill is establishing a licensing regime and solidifying the jurisdiction's position as a leader in tokenization. HSBC wasted no time and has Ant International as the first client for its tokenzied deposit service. 🀄

Partnerships and buyouts are also ramping up – Apex Group acquired a majority stake in Tokeny, while Figure Technology has partnered with Victory Park Capital. Valereum also took a stake in DigiShares, while the Sei Development Foundation welcomed Jamie Finn as a new strategic advisor. To cap it off, TokenFi launched its own RWA platform for compliance and scalability. 🧑‍🤝‍🧑

☄️ The Future is Now

There’s never been a better time to be in RWA and tokenization. 

The rails are being built – high-fidelity data and oracles ensure all on-chain assets are priced appropriately. 

See you next time!