🥺 So No Tokenized Stocks?

RWA World Newsletter - Oct 3, 2025

Author

Ray Buckton
October 03, 2025

Another Friday where Ray Buckton, Head of Research at RWA World, tells you that you’re doing a great job – you’re working hard, and you should give yourself credit. ♥️

BlackRock is also working hard, seeking to launch a Bitcoin yield ETF as a follow-up to its IBIT ETF. But… does everything need to be tokenized? Kadena’s Cesar Pereira doesn’t think so. 👀

🎯🔥 Rapid Fire Takeaways:

Pereira makes some good points about public equity market maturity, but they seem to be coming onchain. The SEC is allowing stock tokenization, Solana and Superstate are closer than ever, and Fairmint has been laying the groundwork for years. 🧱

Thoughts on this? Let us hear ‘em on Thursday at 2 pm EDT live on Wolf Crypto. Drop me a DM if you’re building in RWA, and we’ll get you on the panel. 🐺

🏛️ Govs, Regs, and Associations

As SWIFT builds a blockchain ledger for financial firms, the UK-US transatlantic task force is already maturing markets. As Heser Piece claims the SEC is ready to promote DePIN and RWA and is talking with NYSE and ICE to shape crypto rules, Van Eck is asking the agency about ETF tokenization. On a state level, Georgia is betting $100 million on tokenized almonds, while further south, Brazilian regulators launched a public consultation focused on the tokenization of agribusiness. 🌽

The digital euro is set to start testing in 2026, as nine banks launch euro-denominated stablecoins. Across the channel, UK banks are pressing on with tokenized deposits despite warnings from the BoE regarding stablecoins, and the FCA has explained how it plans to regulate crypto assets. The UAE is going big with a $20 million investment in Ethena, while Australia may bring crypto under a new framework while extending stablecoin exemptions. 🦘

The East is rising fast, with Japanese retail investors able to trade tokenized real estate, Vietnam establishing anti-money laundering frameworks for digital assets, and Korea recognizing stablecoins as essential to the future. Hong Kong is the golden child of the region, mapping a 10-point plan for tokenized bonds. It's on track to issue stablecoin licenses in early 2026 while decrying unapproved issuances. HashKey is also exploring digital asset treasury options as China promotes global use of its digital Yuan, pushing it as essential for CBDC usage. 🐲

📰 Tokenization Development

Seems like everyone announced their raises before Token2049, as we only have three acquisitions and three funding rounds this week: 

💸 Funding & Investments

💰 Acquisitions

That’s okay! Not every week can see billion-dollar rounds… but every week does see new alliances forged: 

🤝 Partnerships

Teamwork makes the world go ‘round – gotta love innovation through collaboration. 🔥

👛 Stablecoins

TradFi and stablecoins continue to merge, with Visa launching Visa Direct, a stablecoin pilot, and Circle exploring reversible USDC transactions and launching onchain refunds via its Arc blockchain. PayPal and Spark are targeting a $1 billion liquidity boost for PYUSD as SWIFT develops a stablecoin-like token to experiment with the asset class. 🔬

Onchain-native assets are thriving, like the Dai stablecoin at its $1 peg and Polkadot, which is exploring a DOT-backed algorithmic stablecoin. Even Societe Generale is getting in on the party, launching euro and dollar stablecoins on Uniswap and Morpho. No wonder crypto Visa debit card transactions have reached an all-time high – it’s never been easier to use stablecoins! 💳

As stablecoins move trillions and transform APAC, stateside credit unions are betting big on the asset class to help with member retention. Despite the GENIUS Act opening the door for US stablecoin payments at scale, Tether and Circle are profiting majorly while retail users are missing out on that sweet, sweet yield. Regardless of the nuances, Cloudfare is launching dollar-backed stablecoins for AI transactions. 🤖

🆕 New Platforms, Programs, Tools, and Integrations

While we’re also a bit scant on integrations, there’s been no shortage of launches this week:

🚀 Launches

Solana is really starting to eat into Ethereum’s market share. Let’s see if they can keep this up with major players like Superstate and R3 bringing assets into the ecosystem. 🔮

🌐 RWA Sectors & Ecosystems

Despite Aave’s big V4 protocol upgrade looming and analysts saying Solana ETFs are just weeks away, Moody’s is cautioning that crypto adoption in emerging markets could negatively impact financial resilience. Chainlink seems unbothered, as they roll out a tokenized fund with UBS and remain perfectly positioned to power the TradFi shift to blockchain, according to Jeffereis. ⚡

Digital asset treasury (DAT) companies are still hot, with Caliber purchasing $4 million in Chainlink tokens and Sky Quarry seeking $100 million for its DAT endeavor. Tokenized stocks are also in vogue, with the OTCM protocol launching the Security Meme Tokens as a sort of “Howey test shield”—that’s one way to walk the tightrope. Maybe they should check out how Fairmint is tackling private markets in a compliance-first way. 💡

Tokenized stocks surged on Ethereum to $275 million in September, with ChinaAMC launching a money market fund on the network and Ondo penning an open letter on the importance of this historic moment. But other networks are gaining ground, with Centrifugre launching a tokenized S&P 500 on Base, and Republic tokenizing Animoca Brands’ equity on Solana. ⚔️

With OFA Group launching a real estate tokenization platform and RedSwan Digital Real Estate bringing $100 million of the stuff to Stellar, physical properties are increasingly moving onchain. Commodities, too, as Mercurity Fintech is tackling gold and crypto exchanges are exploring oil and IP rights. Tokenzied gold is already approaching a $3 billion market cap, showing just how fast this industry is growing. 🌱

🎬 Aaand CUT 

That’s a wrap! The tokenization scene is acting more lively than ever, and we’re stoked for it.

If you need strategic introductions, advisory, or go-to-market solutions, look no further.

RWA World is your go-to partner to make sure you’re entering the industry right. 

Until next time! 👋