Signals for the Tokenized Economy

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Stablecoins U.S. Treasuries Non-U.S. Govt. Debt Credit (Private Credit)

Infrastructure

TradFi advisers want stablecoins, tokenization over Bitcoin: Bitwise

Bitwise Chief Investment Officer Matt Hougan reports that financial advisers are increasingly prioritizing stablecoins and tokenization over Bitcoin in current institutional discussions. After engaging with over 40 advisers, Hougan noted a distinct shift in curiosity toward real-world crypto applications that are actively reshaping capital markets and global payment systems. This trend emerges as Bitcoin faces downward pressure, trading at $62,500, while Wall Street leaders like Larry Fink and David Solomon continue to highlight the utility of tokenized assets. The potential for the SEC to permit tokenized stock trading is expected to further bolster investor confidence and institutional adoption. Companies such as Circle, Coinbase, and Figure, alongside blockchain networks like Ethereum, Solana, and Avalanche, are central to these evolving conversations. Hougan suggests that this institutional pivot toward practical blockchain use cases could serve as the catalyst for the next crypto bull market. By attracting a new class of professional investors, these technologies are positioning themselves as the primary drivers of future industry growth.

#Stablecoins #Tokenization #InstitutionalAdoption

Cointelegraph — Tokenization·Jun 20, 20268.0

Credit (Private Credit)

Citi launches blockchain marketplace for shares of private companies: Report

Citigroup is launching a blockchain-based marketplace designed to offer tokenized depositary receipts representing ownership interests in private companies. This initiative aims to provide wealthy and institutional investors with streamlined access to pre-IPO firms, positioning these assets alongside traditional holdings like public stocks. By utilizing tokenized receipts, Citi intends to create a more transparent alternative to the opaque special-purpose vehicles currently dominating private market access. The platform's underlying blockchain infrastructure is operated by SIX Digital Exchange, a subsidiary of the Swiss SIX Group. This development arrives as companies increasingly remain private for longer periods, capturing significant value before public listings. Unlike some fintech offerings that provide only indirect economic exposure, Citi’s approach focuses on formalizing ownership interests. The move reflects a broader institutional trend of leveraging distributed ledger technology to modernize traditional financial markets and address the surging demand for private equity exposure.

#Tokenization #Citigroup #PrivateEquity

Cointelegraph — Tokenization·Jun 20, 20268.0

Infrastructure

Franklin Templeton, BNP Paribas see tokenization boosting EU's capital efficiency

Executives from Franklin Templeton and BNP Paribas recently highlighted at the WAIB Summit 2026 how tokenized assets and stablecoins are poised to modernize European capital markets by enhancing liquidity and capital efficiency. By streamlining settlement processes and improving collateral mobility, these digital instruments offer institutions greater flexibility and new cross-border opportunities. This shift is supported by the technical capability of blockchains to host multiple interoperable assets, a feature emphasized by BNP Paribas CIB. Meanwhile, major U.S. financial institutions like JPMorgan Chase and Bank of America are preparing to launch a tokenized deposit network by the first half of 2027. Regulatory momentum is also building, evidenced by the SEC's approval of Nasdaq's tokenized stock trading pilot and the New York Stock Exchange's partnership with Securitize. Furthermore, Digital Asset Holdings recently secured $355 million in funding to expand the Canton Network, which is already being piloted by major global banks. These developments collectively signal a broader institutional transition toward onchain settlement and 24/7 trading infrastructure.

#Tokenization #CantonNetwork #FranklinTempleton

Cointelegraph — RWA Tokenization·Jun 20, 20269.0

Stocks

SEC plan to scrap ‘Rule 611’ positive for tokenized US stocks: Galaxy

The U.S. Securities and Exchange Commission has proposed rescinding Rule 611 and Rule 610(e), which currently mandate strict order protection and price quote standards across national market systems. Galaxy head of research Alex Thorn identified this move as a significant catalyst for tokenized U.S. equities, as current regulations effectively prohibit decentralized platforms from operating legally. Under existing rules, automated market makers (AMMs) are unable to comply with trade-through restrictions because they execute orders based on pool prices rather than cross-exchange price matching. Because AMM prices fluctuate constantly, they would inherently violate requirements to guarantee the best available price across all platforms. The SEC intends to replace these rigid mandates with a more flexible best execution framework, potentially accommodating the unique operational structure of blockchain-based trading. This regulatory shift follows the launch of the SEC's Project Crypto in August 2025, which aims to modernize digital asset oversight. If finalized after the 60-day feedback period, this change could remove the primary structural barrier preventing tokenized stocks from trading on decentralized exchanges.

#SEC #TokenizedStocks #Regulation

Cointelegraph — Tokenization·Jun 20, 20268.0

Credit (Private Credit)

RWA market hits $51B as tokenized private credits surges: Bernstein

The Real World Asset (RWA) market has expanded to $51 billion, a 42% increase this year, according to Bernstein Research. This growth is largely driven by tokenized private credit, which now constitutes approximately 44% of the total RWA value, reflecting increased adoption of blockchain infrastructure for lending. Figure Technology Solutions leads RWA platforms with $18 billion in tokenized assets, having tokenized $5 billion in consumer loans in 2026 and achieving $1.3 billion in monthly loan volume in April 2026. Institutional engagement is also evident with BlackRock's BUIDL tokenized money market fund exceeding $2.5 billion in assets. The market's expansion highlights blockchain's emerging role as a foundational layer for global capital markets, addressing investor demand for yield and business capital needs. US Treasury debt remains the second-largest RWA category at 30%, with commodities at 14%. Onchain RWA derivatives are also growing, with Hyperliquid reporting $2.6 billion in open interest in May and $65 billion in trading volumes in April 2026.

#RWA #PrivateCredit #BlackRock

Cointelegraph — RWA Tokenization·Jun 20, 20269.0

Stocks

Kraken parent Payward brings tokenized IPO access to retail investors

Payward Services, a Kraken-affiliated company, is launching a program allowing eligible retail investors to access US initial public offerings (IPOs) at the offering price through tokenized shares. By leveraging the xStocks infrastructure, the initiative enables users to express interest in upcoming IPOs and receive 1:1 backed tokenized shares on listing day. This process democratizes access to investment opportunities typically reserved for institutional clients, effectively removing traditional barriers related to geography and net worth. The shares are backed by underlying stock held in custody by a regulated entity, ensuring a secure link between the blockchain-based tokens and traditional financial assets. This development represents a significant step in the broader RWA tokenization movement, which aims to integrate traditional financial products with blockchain infrastructure. With the RWA market reaching $51 billion, this move highlights the growing trend of using onchain settlement to broaden market participation. The first offerings are expected to roll out to Kraken and xStocks Alliance members in the coming weeks, with plans to expand to additional markets over time.

#RWA #TokenizedEquities #xStocks

Cointelegraph — RWA Tokenization·Jun 20, 20268.0

Infrastructure

Active tokenized RWAs surge almost 600% despite crypto pullback: Binance

The market for active tokenized real-world assets experienced a significant 589% surge between early 2025 and June 2026, according to Binance Research. While bonds and money market funds added $6.5 billion in value, tokenized stocks demonstrated faster growth with a 422% increase in market value. Platforms like Ondo Global Markets played a pivotal role in this momentum, surpassing $1 billion in total value locked within eight months. Tokenized precious metals also saw substantial interest, adding $1.5 billion in value as investors sought safe-haven assets during periods of geopolitical uncertainty. Beyond investment products, institutional adoption is expanding into core financial infrastructure, exemplified by The Clearing House's plans to launch a tokenized deposit network backed by major banks like JPMorgan Chase and Citibank. Furthermore, Kraken’s xStocks platform has facilitated over $25 billion in trading volume for tokenized private equities like SpaceX shares. This maturation signifies a shift from a Treasury-dominated narrative toward a diversified ecosystem that integrates blockchain technology into traditional banking and settlement processes.

#RWA #Ondo #Tokenization

Cointelegraph — RWA Tokenization·Jun 20, 20269.0

Infrastructure

Tokenized asset market tops $43B as institutions accelerate blockchain adoption

The tokenized real-world asset market has expanded by 37% over the last six months, reaching a total market capitalization exceeding $43 billion according to Token Terminal. This growth signifies a shift from a Treasury-dominated landscape toward a more diversified ecosystem that includes commodities and equities. Tokenized funds currently command nearly 80% of the market, while commodities and stocks represent 16.6% and 3.8% respectively. Ethereum remains the dominant blockchain infrastructure, hosting 57.8% of total value, though platforms like BNB Chain, zkSync Era, XRP Ledger, and Stellar are capturing increasing market share. Major financial institutions are accelerating this transition, with Citigroup projecting the market could reach up to $8.2 trillion by 2030 as core infrastructure providers like the DTCC and Nasdaq integrate onchain processes. Sky leads the sector as the largest issuer with $6.1 billion in assets, followed by Securitize and Ondo Finance. This maturation suggests that tokenization is moving beyond pilot programs into mainstream financial operations, supported by improving regulatory clarity and institutional adoption.

#Ethereum #Ondo Finance #RWA

Cointelegraph — RWA Tokenization·Jun 20, 20269.0

Stocks

Boerse Stuttgart taps SocGen, flatexDEGIRO for EU blockchain settlement push

Boerse Stuttgart’s Seturion has partnered with Societe Generale, its crypto subsidiary SG-FORGE, and online broker flatexDEGIRO to establish a pan-European blockchain securities settlement system. Societe Generale will issue tokenized structured securities, including turbo warrants and investment certificates, on Seturion, with SG-FORGE facilitating settlements using its CoinVertible euro and dollar stablecoins, EURCV and USDCV. FlatexDEGIRO, serving 3.5 million customers across 16 countries, will connect its retail investor flow to the platform, while Nasdaq’s European trading venues will also integrate to support trading of these tokenized securities. This collaboration aims to reduce settlement costs and fragmentation, contributing to a unified European capital market for tokenized assets, and highlights the ongoing efforts by European financial institutions to build regulated blockchain infrastructure. Seturion has submitted a license application to Germany’s BaFin under the EU's DLT Pilot Regime.

#Stablecoins #Europe #SocieteGenerale

Cointelegraph — Tokenization·Jun 20, 20268.0

Credit (Private Credit)

Bybit expands RWA push with tokenized bond funds from PIMCO, CMBI

Crypto exchange Bybit has launched its RWA Earn platform, providing eligible users access to tokenized institutional bond funds managed by PIMCO and China Merchants Bank International (CMBI). The offering features the PIMCO Dynamic Income Opportunities Fund, which targets diverse fixed-income assets, and the CMBI Investment Grade Bond Fund, focusing on Asian and global credit. This initiative utilizes DigiFT for tokenization services and Plume for onchain infrastructure, including subscription and allocation management. The move highlights the growing integration of traditional financial products into the blockchain ecosystem, where Plume currently supports over 210 tokenized assets and has processed more than $512 million in volume over the last 30 days. As of June 12, the broader tokenized asset market reached a valuation of $31.8 billion, with US Treasuries leading the sector at $14.9 billion. Bybit’s expansion reflects a broader industry trend where major exchanges and financial institutions are increasingly adopting tokenization to offer yield-bearing assets to their clients. This development underscores the shift toward institutional-grade RWA products, bridging the gap between traditional fixed-income markets and decentralized finance infrastructure.

#RWA #Bybit #DigiFT

Cointelegraph — RWA Tokenization·Jun 20, 20268.0

Stocks

SEC postpones plan allowing 'innovation exemption' for tokenized stocks: Report

The U.S. Securities and Exchange Commission has postponed a proposed "innovation exemption" that would have facilitated the trading of tokenized stocks. This decision follows significant feedback from market participants and stock exchange officials who expressed concerns regarding implementation, specifically the potential for unauthorized token issuance and challenges in verifying ownership on semi-pseudonymous blockchains. The proposed framework aimed to ensure that investors in tokenized stocks receive identical rights to traditional shareholders, including voting and dividend entitlements. While the RWA sector currently holds $1.55 billion in tokenized equities, this delay reflects a cautious regulatory approach to integrating blockchain technology with traditional equity markets. Industry leaders, including the CEOs of Securitize and Bullish, have supported the delay, emphasizing the necessity of ensuring that only authorized public companies can issue tokenized shares. This development highlights the ongoing tension between rapid technological innovation and the regulatory requirements for investor protection and market integrity. As the market for real-world assets continues to grow, the SEC's stance remains a critical factor in determining how digital representations of securities will be legally structured and traded.

#RWA #Securitize #SEC

Cointelegraph — Tokenization·Jun 20, 20268.0

Stocks

Exodus launches tokenized stock marketplace with Ondo, adds 200

Exodus has launched a new marketplace for tokenized assets in partnership with Ondo Finance, enabling eligible users to trade over 200 tokenized stocks and ETFs directly on the Solana blockchain. This integration allows self-custody wallet users to access a diverse range of real-world assets, though these tokens do not confer direct ownership or shareholder rights. The move highlights the intensifying competition among crypto platforms to provide onchain exposure to equities and pre-IPO companies. Data from RWA.xyz indicates that the broader tokenized stock market has reached $3.5 billion in value, marking a 139% increase over the past 30 days. Much of this sector growth is currently driven by the xStocks platform, which accounts for approximately $2.5 billion in tokenized stock value. As major exchanges like Kraken, Bybit, and Binance race to offer products linked to companies like SpaceX, the Exodus-Ondo partnership underscores the growing institutional and retail demand for onchain financial instruments. This trend signifies a shift toward integrating traditional equity markets into decentralized finance ecosystems to enhance accessibility.

#Solana #Ondo Finance #RWA

Cointelegraph — RWA Tokenization·Jun 20, 20268.0

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