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⌚ Stablecoins = $20 Million Per Hour

RWA World Newsletter - Oct 10, 2025

Author

Ray Buckton
October 10, 2025

Guess what – it’s Friday. And Ray Buckton, Head of Research at RWA World, is totally here for it. 💯

Why? Robinhood’s CEO talking about tokenization eating the entire financial system and the total stablecoin supply soaring by $45 billion in three months may have something to do with it. 😉

🎯🔥 Rapid Fire Takeaways:

With BlackRock’s BUIDL hitting $600 million AUM, confidential lending will unlock trillions for DeFi via institutional allocators. 🔑

Hop on X this Thursday at 2 pm EDT via Wolf Crypto to chat about these sorts of topics LIVE. 🐺

🏛️ Govs, Regs, and Associations

Internationally, the ISDA is exploring tokenized collateral, as the US continues to sprint ahead. Investment advisors may soon be able to use state trusts as crypto custodians, as congressmen push for bitcoin reserves and the Senate holds hearings on crypto taxes and potential relief. And while Coinbase runs a tight enough ship to apply for a federal trust banking license, Trump’s WLFI needs better reporting, according to NYDIG. New York is also giving out $12,000 in crypto to low-income youth, putting those digital assets to social good. 🦅

Europe is schisming, with EU watchdogs pushing for an outright stablecoin ban and policymakers urging no relaxation of bank regulations. Meanwhile, the ECB has already picked providers for its digital euro and wants to boost issuance, all while supporting a ban on multi-issuance stablecoins. Over the channel, the BOE issued new policy, with leaders saying stablecoins need to be regulated like money. Russia also plans to audit all its bitcoin and crypto assets. 💶

🔍Tokenization Development

So we’ve talked about nine-figure rounds, but how does Polymarket’s upcoming ten-figure round hit your ears (or… I guess eyeballs in this case?):

Outright acquisitions are also on the menu this week: 

And, of course, we can’t leave out partnerships – plenty of those to go around: 

When some of the industry's most popular entities raise billions and collaborate with the biggest names in tech, you know we’re building in the right direction. ⚒️

👛 Stablecoins

With stablecoins soaring by $45 billion in three months, Ripple’s RLUSD has hit an $800 million market cap, and PayPal’s PYUSD reached $1 billion. Tether could soon outperform Saudi Aramco, as Phantom Wallet launched its stablecoin and SoFi doubles down on the tech. Falcon Finance also pushed out its USDf audits, as Foresight Ventures launched a $50 million fund dedicated solely to stablecoin infrastructure. Guidance also creates practical paths for banks to enter stablecoins. 📜

Custom stablecoins are already redefining payroll, as stablecoin as a service continues to drive growth. LayerZero is ensuring that all these new issuances are interoperable, as Stripe’s CEO says that soon, we all might have the share yield. We’re also seeing calls for non-USD stablecoins increasing, as Visa Direct is using the tech for faster business funding. A Sui digital asset treasury company is launching two stablecoins, as Cap surpasses $200 million TVL and Triple-A adds iPiD verification. 🔍

While not a zero-sum game, stablecoins could suck $1 trillion from emerging market banks in the coming years. Economies like Venezuela are increasingly turning to USD stablecoins, and the tech may be Africa’s next great financial leap, if they can outmaneuver the dollar. Brazil is leading the LatAm stablecoin game, as India prepares its jurisdiction for the technology. The first stablecoin-powered Islamic bank launched in Malaysia, as Australia’s ASIC prepares to extend stablecoin exemptions. Onchain, the Ethereum Foundation converted 1000 ETH into stablecoins to fund research, as Bitwise’s CEO says Solana will lead stablecoin adoption on Wall Street. 🏁

🆕 New Platforms, Programs, Tools, and Integrations

Strong developments this week, as Coinbase has integrated 1Inch’s swap API and the SIX exchange is bringing its digital asset operations in-house. Tons of new launches and initiatives to explore as well:

Not a week goes by without top-tier builders shipping, and we love to see it. 👏

🗺️ RWA Sectors & Ecosystems

The ecosystem is thriving, with Coinbase topping $1 billion in bitcoin-backed loans and Mercado Bitcoin betting on wallet abstraction. Banks are going bananas, with BNY Mellon exploring tokenized deposits, BBVA joining SWIFT’s blockchain initiative, and JP Morgan hiring digital asset talent like crazy. Alvara aims to be the Fidelity of tokenized assets, as Bitwise files for an Aptos ETF, all while tZERO completed its special purpose broker-dealer exam and Plume secured its transfer agent license. 📋

But the coolest development? The hit media Solo Leveling is coming onchain, as a Koreak franchise is tokenizing the intellectual property. 📚

Digital asset treasuries are still hot, with a $675 million AVAX one in the works and Tether seeking $200 million for more tokenzied gold. Tokenized stocks are unlikely to disrupt ETFs, as Wallet introduced 60 tokenized US stocks to its platform and Robinhood defended its tokenized stock model. But that may change, as Securitize tokenized FG Nexus’ common and preferred stock. S&P expanded into crypto with a new multi-asset index, while S&P Global gave OpenEden’s TBILL an AA+ rating. ✔️

Real estate is also a hot commodity, with Mandarin Oriental Grand Cayman testing bitcoin for payments, and Trump using WLFI to bring the family’s real estate holdings onchain. As more properties move onchain, financing becomes more sophisticated, and Dubai continues to lead the charge. Tokenized gold is once again on the rise, having recently crossed the $3 billion mark. ORO launched its gold vaults on Solana, and Streamex Corp announced a pre-sale of up to $100 million of GLDY, their gold-backed stablecoin yielding 4%. David Commodities is also exploring a commodity treasury framework. ⛏️

🌌 The Best Timeline 

We’re experiencing the most significant transformation of capital markets in over a century.

There has never been a better time to innovate in finance, and we’re stoked to support your efforts.

Contact us at RWA World to learn how we can help you with messaging, market positioning, go-to-market strategy, and more.

See you next week!