🦅 America Is Now GENIUS

Another huge week for RWA – Ray Buckton, Head of Research at RWA World, ready to cook! 🍳

With the GENUIS Act clearing the Senate and BlackRock’s BUIDL growing by 3x in 3 months, RWA is becoming crypto’s true edge. But can Ethereum remain at the center of it all? 👀

🎯🔥 Rapid Fire Takeaways:

⚖️ Senate passes GENIUS stablecoin bill, giving crypto industry first major legislative win

⚪ Circle stock surges 34% to $200 record high, now up 500% from IPO

🏢 Amazon, Walmart consider issuing stablecoins

✔️ Vietnam ends crypto ‘Grey Zone’ with sweeping new digital asset legislation

🔗 Chainlink Powers Crosschain Settlement With JPMorgan and Ondo as RWA Market Surges

📜 Major Crypto Exchanges To Accept BlackRock's $2.9 Billion Tokenized Money Market Fund As Collateral

🛢️ Latin America Oil, Gas Deal Worth $75M Gets Tokenized as RWA Momentum Builds

🌊 Ondo’s Tokenized Treasuries Arrive On XRPL

Time will tell, but the rising tide benefits the entire industry. 

Learn all about it on Tuesday and Thursday at 2 pm EDT, live on Wolf Crypto – and message Ray on X if you’d like to participate on the panel. 🐺

🏛️ Govs, Regs, and Associations

Treasury Secretary Bessent says crypto will reinforce dollar supremacy, and LATAM crypto remittances spiking 40% back that up. J.P. Morgan is discussing public blockchain with the SEC, while Coinbase is inquiring about blockchain-based stocks from the agency. Additionally, Fairmint is advocating for a private market framework for blockchain. All while the Futures Industry Association wants tokenized MMF as collateral. 🎆

In APAC, Vietnam’s new digital asset legislation ended its “Grey Zone” era, and the Thai cabinet approved a bill for digital capital markets. Malaysia launched its stablecoin digital asset hub, and Nauru passed a law to establish a crypto regulator. Hong Kong is bustling, studying Beijing’s monetary policy to contextualize its new stablecoin law, which many say will ignite a new wave of tokenization in the jurisdiction. 🏄

The Nigerian SEC is developing a stablecoin framework as the ECB praises the digital euro and tokenization efforts. Licensing everywhere, with Paxos gaining approval from Singapore to issue stablecoins and partnering with DBS bank, Minax securing its U.S. MSB license, and Sting Metaverse securing its Canadian fintech license after rebranding to Payx. 📇

💰 Collaborations, Investments, and Ecosystems

Big investments and hiring, with Tether taking a stake in Elemental Altus, and Invesco hired a JP Morgan executive to lead its $1.6 billion crypto push. We also saw Ubyx raise $10 million for its stablecoin and BitVault raise $2 million for BTC-backed money. 💸

Partnerships are also flourishing, with Chainlink working with J.P. Morgan and Ondo, and XDC collaborating with Archax. There’s also Galaxy and Liquid Collective working together to offer Ethereum liquid staking to institutions. Even more partnerships:

• Matera 🤝 Circle – (stablecoin-ready financial platform)

• Trillion Digital 🤝 Borderless.xyz – (institutional stablecoin liquidity)

• Shopify 🤝 Stripe – (stablecoin payments)

• Shopify 🤝 Coinbase – (stablecoin payments)

• Forté Aviation 🤝 Deus X Pay – (crypto payments)

• Oxbridge/SurancePlus 🤝 Midnight Foundation – (tokenized reinsurance)

• Conduit 🤝 Braza Group – (stablecoin cross-border transfers)

• Alchemy Pay 🤝 Backed – (tokenized ETFs, stocks access)

• Alchemy Pay 🤝 Ripple – (RLUSD on-ramps)

Regarding ecosystems, Ondo’s Global Market Alliance aims to expand on-chain capital markets as major exchanges are accepting BlackRock’s BUIDL. There’s also Paxos’ new startup helping institutions offer DeFi and Morpho V2 using TradFi rails for DeFi products. According to Artemis, all this interpolation is warming institutions up to DeFi faster than ever before. 🔥

🌐 The Burgeoning World of Stablecoins

Stablecoin adoption is soaring, with Circle now above $200 and up 500% from IPO. Amazon and Walmart’s talk of issuing stablecoins might play some part, as major banks are launching their own after the regulatory shift. Even the DTCC is getting involved. However, the outgoing FSB chief and BOK chief warn of system risks that may arise from the still-fledgling technology. 🐣

Nevertheless, Circle’s USDC is eligible for collateral for U.S. futures trading as the company adds partners to the mix. Not to be sidelined, PayPal expanded PYUSD to Stellar as Aave and Coindesk launched their CDOR stablecoin. Bitcoin-backed stablecoins are here with Elastos’ BTCD, and Highnote has partnered with BVNK for a real-time stablecoin card program, boding well for Shopify’s newly-revealed support for stablecoin payments. 💳

Ripple’s RLUSD, now a top-three traded stablecoin on Bitstamp, recently minted 12 million ahead of the GENIUS Act vote as Cardano debates offloading $100 million ADA to support its stablecoin infrastructure. On the security front, Tether froze $12.3 million USDT on Tron in an anti-crime operation as AICPA provides criteria for risk controls for the asset class. ⚙️

Stablecoins are global, and Coin.ph launched the first regulated one in the Philippines. Ant Intl and Ant Group are both planning their own, which is also seeing e-commerce giant JD applying for stablecoin licenses. SaturnX raised $3 million for stablecoin-based global remittances while DWF Labs’ Falcon Stable got a Kaia Chain integration. 🗺️

📊 Blockchains and RWA Sectors 

The Solana Policy Institute filed to offer stocks, bonds, and funds as Ripple welcomed Ondo’s tokenized treasuries to XRPL. There’s also the Toronto-based XRP ETF and a new patent from Ripple on cross-border payments. 💱

J.P. Morgan trademarked its JPMD application as Partior joined OSTTRA’s FX PvP platform, and Fnality explores DTCC integration. The first regulated multi-asset crypto app out of Dubai, Emcoin, debuted, as the jurisdiction also saw the world’s first water-backed token. 🚰

Dubai loves tokenized real estate, and with Beeline working in the sector and Bitcoin-backed loans for the real estate market, the sector is flourishing. Polymath also tokenized a Winnipeg apartment block, as Novaprime explores blockchain-based mortgage lending. Tokenized commodities aren’t far behind, with David Commodities investing $30 million in the sector and a $75 million oil and gas deal from LATAM officially tokenized. ⛏️

🎁 Wrapping Things Up

Another excellent week for tokenized assets.

Make sure to join the conversation on Wolf Crypto every Tuesday and Thursday at 2 pm EDT.

And until next time, have a fantastic week.