Signals for the Tokenized Economy

BitGo says asset servicing is the real barrier to tokenized securities

BitGo executive Eugene Hahr argues that the primary hurdle for institutional-scale tokenized securities has shifted from basic custody to complex asset servicing. While holding digital tokens is a solved technical challenge, the industry now faces difficulties in managing the rights, obligations, and corporate actions attached to these assets. Hahr highlights that institutional adoption requires seamless integration of dividends, proxy voting, and daily reconciliation within existing risk and compliance frameworks. He notes that the U.S. and U.K. are approaching this evolution from different directions, with the U.K. focusing on infrastructure via the Digital Securities Sandbox and the U.S. prioritizing trading-led regulatory exemptions. The SEC's September 17 order serves as a critical milestone by allowing onchain venues to operate under conditional exemptions if tokens mirror underlying share rights. Currently, much of the equity tokenization market remains a wrapper for conventional assets, whereas money market funds and private credit have seen more mature production. Ultimately, banks and asset managers are demanding unified operating models that allow them to handle crypto, stablecoins, and tokenized securities without siloed infrastructure. This transition marks a shift toward practical, operational readiness as institutions seek to align onchain assets with traditional financial standards.

au.investing.com·Sep 23, 20267.5

Fidelity Launches Tokenized Funds in Production

Fidelity has officially transitioned its tokenized funds from pilot programs to live production environments in collaboration with EY. This operational milestone signifies a major shift for traditional financial institutions moving toward blockchain-based issuance, trading, and settlement. By leveraging blockchain technology, the initiative aims to enhance transparency and efficiency within financial transactions. While the current market for tokenized assets faces low trading volumes, the entry of a major player like Fidelity is expected to catalyze broader institutional and retail adoption. The partnership utilizes infrastructure supported by Fireblocks to facilitate these operational capabilities. This development underscores a growing trend of legacy financial firms integrating distributed ledger technology into their core service offerings. As these funds become operational, the focus shifts toward regulatory clarity and the potential for increased market liquidity in the tokenized asset space.

coinfomania.com·Sep 23, 20267.5

Plume Network Asks SEC Not To Regulate Crypto Vault Protocols

Plume Network met with the SEC’s Crypto Task Force on September 22 to propose a function-based regulatory framework for onchain vault protocols. The proposal argues that U.S. securities laws should apply based on specific activities—such as investment discretion and asset selection—rather than the underlying blockchain technology or the vault label itself. Plume suggests dividing the vault ecosystem into four distinct roles: protocol developer, curator, administrator, and token issuer. Under this model, immutable smart-contract developers providing infrastructure without custody or discretion would face different regulatory requirements than curators who actively manage strategies. Additionally, Plume advocated for SEC guidance on using distributed-ledger wallets for securityholder registration and embedding anti-money-laundering controls directly into tokenized fund interests. The company also requested rules to support hybrid fund structures that issue both conventional and tokenized share classes. While the SEC has not adopted these recommendations, the submission highlights a growing industry effort to define clear compliance pathways for RWA-focused Ethereum Layer 2 networks. This dialogue is critical for the RWA market as it seeks to reconcile decentralized vault mechanics with existing federal securities and investment-company regulations.

cryptotimes.io·Sep 23, 20267.5

Blockchain.com and NYSE Explore 24/7 Tokenized Securities

Blockchain.com and the New York Stock Exchange (NYSE) have signed a Memorandum of Understanding (MOU) to explore the distribution of tokenized U.S. equities and ETFs. The partnership aims to leverage the NYSE’s proposed digital Alternative Trading System (ATS) to provide Blockchain.com’s global user base with 24/7 access to traditional securities. By integrating tokenized assets, the initiative seeks to enable fractional ownership, continuous trading, and faster on-chain settlement for retail investors. Additionally, the agreement includes a bidirectional data-sharing arrangement where ICE Data Services will distribute crypto market analytics to institutional clients, while Blockchain.com will incorporate NYSE data feeds into its platform. This collaboration highlights the growing institutional interest in bridging traditional finance with blockchain infrastructure, aligning with broader industry forecasts that project a $5.5 trillion market for tokenized assets by 2030. While the project remains in the planning phase and is subject to regulatory approval, it represents a significant effort to modernize market access. The move underscores a strategic shift toward merging crypto-native distribution channels with regulated exchange-listed products.

coinpedia.org·Sep 23, 20268.0

Zoomex Deepens Its Real-World Asset Strategy

beincrypto.com·Sep 23, 20265.5

ESMA to prioritize EU

The European Securities and Markets Authority (ESMA) has designated tokenization and artificial intelligence as its primary supervisory priorities for the European Union starting in 2027. This Union Strategic Supervisory Priority (USSP) aims to harmonize oversight across national regulators as financial firms increasingly integrate digital assets and AI into investor-facing products. ESMA plans to map the adoption of these technologies, conduct targeted checks on affected firms, and develop common regulatory approaches to mitigate risks. Key concerns identified by the authority include the potential for misleading AI outputs, product complexity, and over-reliance on a small number of third-party service providers. By establishing these priorities every three years, ESMA seeks to build institutional expertise and ensure consistent investor protection across the bloc. This initiative signals a shift toward proactive, centralized monitoring of how tokenized assets are marketed and managed within the EU financial ecosystem. The move underscores the growing institutional recognition of tokenization as a core component of future financial infrastructure that requires standardized regulatory scrutiny.

Cointelegraph — Tokenization·Sep 23, 20267.5

HKMA and SFC unveil digital-asset plans for stablecoins and tokenized gold

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have unveiled comprehensive plans to integrate blockchain technology into core financial market infrastructure. By the end of 2026, the HKMA will upgrade its Central Moneymarkets Unit to support 24/7 real-time on-chain settlement for digital Hong Kong dollars and CBDCs. Simultaneously, the SFC is developing a new licensing regime and a long-term regulatory framework specifically for tokenized investment products, including gold and other real-world assets. These initiatives aim to deepen financial connectivity between mainland China and global markets while enhancing oversight through AI-driven surveillance tools like CrypTech. The region has already begun issuing stablecoin licenses, with HSBC and Anchorpoint Financial leading early adoption. Furthermore, Hong Kong Exchanges and Clearing (HKEX) is expanding its commodities offerings by introducing yuan-denominated gold futures. These coordinated regulatory and infrastructure efforts signal a major shift toward institutionalizing digital asset markets in Hong Kong. This development is critical for the RWA sector as it provides a clear legal pathway for tokenizing traditional assets within a major global financial hub.

cryptopolitan.com·Sep 23, 20269.0

MoonPay eyes tokenized securities push with $60 million acquisition of brokerage firm North Capital

MoonPay has acquired North Capital Investment Technology for over $60 million in an all-stock deal to accelerate its entry into the tokenized securities market. This strategic acquisition provides MoonPay with essential SEC-registered brokerage licenses, including broker-dealer, transfer agent, and alternative trading system (ATS) capabilities. North Capital previously collaborated with tZero to facilitate the trading of tokenized assets, establishing a foundation for compliant digital securities. By integrating these back-end services, MoonPay aims to build the regulatory infrastructure necessary for the mass adoption of tokenized debt and equity. The move follows a broader industry trend where major firms like Robinhood and Kraken are expanding their tokenized asset offerings. This development is further supported by a recent SEC "innovators exemption" that provides a clearer regulatory pathway for companies to offer tokenized stocks. The acquisition underscores the growing institutional focus on programmable financial infrastructure to bridge traditional equities with blockchain technology.

fortune.com·Sep 23, 20268.0

NYSE and Blockchain.com to explore selling tokenised stocks

reuters.com·Sep 23, 20268.5

Tokenized Stocks in 2026: Building the Infrastructure for 24/7 On

Finextra — Crypto·Sep 23, 20267.5

Solana's tokenized commodities surge to $87M weekly volume as Raydium dominates trading

Solana has emerged as a significant hub for tokenized commodities, recording $87 million in weekly trading volume as of late 2026. The network's tokenized gold supply experienced a 689% year-over-year increase, reaching a total supply value of approximately $50 million by August 2026. Raydium, the primary decentralized exchange on Solana, facilitates the majority of this activity, consistently capturing between 63% and 90% of the network's tokenized asset volume. New product offerings, such as GMTrade's 24/7 perpetual contracts for gold, silver, and WTI crude oil, have further expanded commodity exposure for users. Additionally, the integration of Paxos Gold (PAXG) into the Kamino lending protocol allows users to utilize tokenized gold as collateral for borrowing. While Ethereum remains the dominant force in the broader on-chain gold market, Solana's rapid growth in supply and holder counts highlights its increasing competitiveness in the RWA sector. This trend underscores a broader shift toward high-frequency, on-chain commodity trading and decentralized financial utility for real-world assets.

cryptobriefing.com·Sep 23, 20267.5

SEC Opens Door to Tokenized Equities, DeFi Market Cap Hits $80 Billion — Bitwise CIO Draws Parallels to Early AI Era

The U.S. Securities and Exchange Commission has introduced a temporary five-year exemption allowing for the conditional on-chain trading of tokenized U.S. listed equities, provided issuers are notified and shareholder rights are maintained. Simultaneously, S&P Global announced the acquisition of OpenZeppelin, a smart contract security firm whose technology has secured over $37 trillion in value transfers. These developments signal a significant institutional push toward the on-chain migration of financial markets, with regulators and ratings agencies building the necessary infrastructure for tokenized assets. Bitwise CIO Matt Hougan highlighted these events as evidence of a structural shift in financial mechanics, comparing the current trajectory of tokenization to the early growth phase of artificial intelligence. While the current market for tokenized equities remains at approximately $2.9 billion, the potential for integration into DeFi protocols for lending and yield generation is substantial. Traditional exchanges are also responding to this shift, with Nasdaq planning to launch 23-hour trading by December 2026 to compete with the always-on nature of crypto markets. These combined regulatory and infrastructure milestones suggest that tokenization is moving beyond speculative interest into a phase of institutional legitimacy.

finance.biggo.com·Sep 23, 20269.0