Signals for the Tokenized Economy

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

Stocks

Nasdaq acquires LeveL Markets to boost tokenization

Nasdaq has officially acquired LeveL Markets, the third-largest alternative trading system in the United States, to bolster its digital asset infrastructure. This strategic move integrates LeveL Markets into Nasdaq's new Digital Liquidity Networks unit, which focuses on merging traditional liquidity with blockchain-based tokenization. By leveraging LeveL Markets' existing network, which serves over 300 institutional firms and processes hundreds of millions of shares daily, Nasdaq aims to facilitate the transition toward 24/7 programmable financial markets. The acquisition is a significant milestone for the RWA sector, as it validates the institutional push to represent traditional securities on-chain for increased settlement efficiency and transparency. This development follows a period of rapid growth in the tokenized stock market, which has expanded from approximately $381 million to nearly $2.5 billion in distributed value over the last year. Nasdaq intends to use this infrastructure to enable a hybrid trading environment where tokenized assets can coexist with traditional stocks. Ultimately, this acquisition signals a major shift toward continuous, always-on global markets that operate independently of traditional exchange hours.

#TokenizedStocks #InstitutionalFinance #Nasdaq

news.bit2me.com·Aug 15, 20269.0

Infrastructure

Making The Case for Tokenized Collateral

A global report from Nasdaq and the ValueExchange highlights the critical inefficiencies in current collateral operations, where 70% of firms face daily settlement matching and delivery issues. To mitigate these failures, firms currently maintain approximately 7% excess collateral as a buffer, resulting in 25% of total collateral remaining idle and unremunerated. The research, which surveyed 203 market participants, reveals that 52% of firms expect to manage live tokenized collateral by the end of 2026. By transitioning to tokenized assets, Tier 1 firms could unlock an estimated $346 million in additional annual interest earnings by mobilizing idle capital. Furthermore, tokenization is projected to eliminate one in eight failed trades, significantly reducing operational friction. Over 60% of North American and European respondents anticipate that tokenized money market funds will become eligible collateral within the next two years. This shift underscores the growing institutional focus on leveraging blockchain technology to optimize capital efficiency and modernize post-trade infrastructure.

#Tokenization #Nasdaq #CapitalMarkets

nasdaq.com·Aug 15, 20268.0

Stocks

Coinbase Wins Abu Dhabi Approval to Launch Tokenized Securities Starting with Apple

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has granted Coinbase a license to arrange investment deals and provide custody for tokenized securities. This regulatory milestone allows Coinbase to issue digital tokens representing traditional equities, starting with Apple CB Certificates issued by Coinbase Onchain SPV Ltd. These certificates provide beneficial interests in underlying Apple common stock held in trust, enabling verified token holders to receive economic benefits like dividends. By establishing ADGM as its international tokenization hub, Coinbase aims to facilitate faster settlement, continuous trading, and fractional ownership for global investors. While the products are currently limited to eligible jurisdictions outside the United States, the framework serves as a scalable model for future equity tokenization. This development underscores the growing trend of major crypto exchanges integrating traditional financial instruments into onchain environments. The initiative follows Coinbase's previous successful deployment of a $75 million onchain strategy with Mubadala Capital in the region.

#TokenizedEquities #Coinbase #ADGM

fr.tradingview.com·Aug 15, 20268.5

Infrastructure

Asset tokenization on Wall Street is accelerating its implementation! Nearly 40 institutions, including JPMorgan and Goldman Sachs, have completed blockchain transaction tests, with further expansion of applications scheduled for October.

Wall Street is rapidly advancing the adoption of asset tokenization as nearly 40 major financial institutions, including industry giants JPMorgan and Goldman Sachs, have successfully completed a series of blockchain transaction tests. These trials represent a significant shift toward integrating distributed ledger technology into traditional financial infrastructure to improve settlement efficiency and liquidity. The successful completion of these tests serves as a critical proof-of-concept for institutional-grade blockchain applications in global markets. With further expansion of these tokenized applications scheduled for October, the industry is moving beyond theoretical exploration into practical implementation. This acceleration signals a broader trend of traditional finance firms seeking to modernize legacy systems through tokenization. The involvement of such a large cohort of institutions underscores the growing consensus that blockchain technology is becoming a foundational element of future financial operations. As these firms scale their efforts, the RWA market is poised to benefit from increased institutional legitimacy and standardized operational frameworks.

#Tokenization #JPMorgan #InstitutionalFinance

moomoo.com·Aug 14, 20268.0

Credit (Private Credit)

Ripple's New Bets on Tokenized Fund Infrastructure: What ZILO and Licuido Actually Do

Ripple has strategically invested in ZILO and Licuido to address the structural inefficiencies currently hindering institutional RWA tokenization on the XRP Ledger. While tokenized fund shares are increasingly issued on-chain, they often remain stagnant due to fragmented legacy systems that fail to integrate with collateral markets. ZILO provides the necessary regulated transfer agency and digital record-keeping, while Licuido enables the use of these fund shares as collateral without requiring a sale. By combining these services with Ripple’s RLUSD stablecoin for cash settlement, the company aims to create a unified stack that supports the entire lifecycle of a fund asset. This infrastructure allows institutions to move from static holdings to active liquidity, facilitating borrowing and lending against tokenized assets. The initiative builds upon Ripple’s previous success with the Aviva Investors USD Liquidity Fund, which launched on XRPL in July 2026. Ultimately, this move seeks to solve the 'parked asset' problem, ensuring that tokenized shares can function as dynamic instruments within institutional capital markets.

#XRPL #Ripple #TokenizedFunds

cryptonews.net·Aug 14, 20268.5

U.S. Treasuries

Franklin Templeton, JP Morgan AM want tokenized fund KYC on par with stablecoins

The newly formed Coalition for Tokenized Markets (CTM), featuring major asset managers including Franklin Templeton, JP Morgan Asset Management, Janus Henderson, and WisdomTree, has formally petitioned the U.S. Treasury and FinCEN to modernize KYC requirements for tokenized funds. The coalition argues that current regulatory frameworks place tokenized funds at a competitive disadvantage compared to stablecoins, which benefit from the GENIUS Act's provision allowing KYC to occur only during on-boarding and off-boarding. By requesting that tokenized funds be granted similar treatment, the group aims to eliminate the requirement for KYC checks on every individual transaction. This shift is viewed as essential for fostering a level playing field within U.S. capital markets and encouraging broader institutional adoption of blockchain-based financial products. If successful, this regulatory adjustment would significantly reduce friction for investors interacting with tokenized assets across different platforms. The proposal highlights the growing tension between legacy financial regulations and the operational realities of distributed ledger technology. Ultimately, this initiative represents a coordinated effort by industry leaders to align federal oversight with the functional efficiencies of digital assets.

#FranklinTempleton #JPMorgan #TokenizedFunds

ledgerinsights.com·Aug 14, 20268.0

Active Strategies

Marketnode tokenizes BNY funds on Stellar

Marketnode, a Singapore-based financial infrastructure firm founded by Temasek and SGX, is expanding its digital asset capabilities by tokenizing BNY Investments funds on the Stellar blockchain. This initiative aims to provide institutional and accredited investors with streamlined access to fund products through the Fundnode settlement platform. Fundnode, which launched in 2024, demonstrated significant operational capacity by processing nearly 1.5 million transactions within its first year. The choice of Stellar is driven by its native tokenization features, which include built-in compliance controls necessary for regulated entities to manage error correction and fraud prevention. Marketnode has previously established its market presence by supporting HSBC’s onchain structured products and acting as a distributor for WisdomTree and CGS International. By leveraging Stellar, Marketnode continues to build a multi-chain ecosystem that bridges traditional finance with distributed ledger technology. This development underscores the growing institutional preference for blockchain-based settlement layers that offer both regulatory oversight and high transaction throughput.

#Stellar #Tokenization #Marketnode

ledgerinsights.com·Aug 14, 20268.0

Stocks

Peter Thiel-Backed Bullish Sees Tokenized Stocks as a 'Giant Growth Opportunity' No One Saw Coming

Bullish CEO Tom Farley identified tokenized stocks as a major growth opportunity during the company's second-quarter earnings call, signaling a strategic shift beyond traditional cryptocurrency assets. The exchange recently facilitated trades of its own tokenized BLSH stock, which are settled against a dollar-pegged stablecoin and offer holders direct legal ownership equivalent to conventional shareholders. Farley expressed optimism regarding the SEC's proposed 'innovation exemption' framework, which aims to provide regulatory clarity and safe harbors for tokenized equity trading. Although the SEC reportedly delayed the release of these specific guidelines, the initiative is viewed as a critical step toward institutionalizing the market. Bullish reported strong financial performance with $92.6 million in adjusted revenue, marking a 62% year-over-year increase. This development highlights the growing intersection between regulated equity markets and blockchain-based settlement systems. By prioritizing legal registry-level recording, Bullish seeks to bridge the gap between traditional finance and digital asset infrastructure.

#SEC #TokenizedStocks #InstitutionalCrypto

benzinga.com·Aug 14, 20268.0

U.S. Treasuries

Tokenized Fund Competition: It's Not Just About Scale

Global tokenized fund assets have surged from approximately $2 billion in 2024 to $10 billion by May 2026, driven primarily by institutional adoption of tokenized Treasury bonds and money market funds. BlackRock’s BUIDL fund currently accounts for 40% of this market, while JPMorgan has expanded its presence with the Ethereum-based JLTXX fund designed for stablecoin reserve requirements. Beyond simple issuance, the market is shifting toward using these tokenized shares as high-quality digital collateral for trading, lending, and settlement. Regional strategies vary, with the U.S. focusing on scale, Europe on regulatory integration, and the UK on setting global financial infrastructure standards. Singapore and Hong Kong have emerged as critical hubs, with Hong Kong introducing the world’s first regulatory framework for secondary market trading of tokenized funds. These developments signify a transition where traditional financial assets are becoming the underlying foundation for a new digital currency system. Ultimately, major institutions like BlackRock, Franklin Templeton, and JPMorgan are leveraging tokenization to maintain their dominance in the evolving digital financial landscape.

#Stablecoins #RWA #JPMorgan

panewslab.com·Aug 14, 20269.5

Infrastructure

Securitize Revenue Falls 5% as Tokenized Assets Hit $4.3 Billion

Securitize reported a record $4.3 billion in average tokenized assets for Q2, representing a 16% year-over-year increase, while aggregate transaction volume surged 147% to $5.3 billion. Despite this significant growth in on-chain activity, the company's quarterly revenue fell 5% to $14.4 million, and net losses widened to $21.7 million. This divergence highlights a critical challenge for the RWA sector: converting high-volume tokenization activity into sustainable, profitable revenue streams. Securitize has expanded its operational footprint by securing FINRA approval for atomic settlement and partnering with Computershare and Continental Stock Transfer & Trust for tokenized equity support. Furthermore, the company achieved a milestone on July 2 by becoming the first tokenization firm to trade on the New York Stock Exchange. With $350 million in cash and no debt, the firm maintains a strong balance sheet to support its long-term institutional strategy. The market is now closely watching whether these infrastructure investments will eventually yield the expected financial returns as institutional adoption scales.

#RWA #Tokenization #Securitize

cryptorank.io·Aug 14, 20268.0

Infrastructure

U.S. SEC to again delay 'innovation exemption' for tokenization amid Wall Street, White House concerns

The U.S. Securities and Exchange Commission has indefinitely delayed its anticipated innovation exemption, a policy designed to streamline the trading of tokenized securities on blockchain rails. This decision follows significant pressure from the White House and the Securities Industry and Financial Markets Association (SIFMA), who raised concerns regarding the proposal's legal foundation and potential market impact. The White House reportedly fears that unilateral regulatory relief could interfere with ongoing congressional negotiations surrounding the Digital Asset Market Clarity Act. Meanwhile, SIFMA has challenged the SEC's use of exemptions to implement structural market changes, arguing that such shifts require a formal, transparent notice-and-comment process. Industry participants are particularly concerned about how decentralized trading venues and automated market makers align with existing Regulation NMS requirements, specifically regarding best execution obligations. Despite the delay, major institutions like the DTCC continue to test tokenized infrastructure, reflecting the broader industry push to modernize financial markets. With Citi analysts projecting a $5.5 trillion market for tokenized assets by 2030, the regulatory uncertainty remains a critical bottleneck for institutional adoption. The SEC's cancellation of a planned Friday meeting underscores the ongoing tension between fostering blockchain innovation and maintaining established securities market integrity.

#SEC #TokenizedSecurities #DigitalAssetMarketClarityAct

CoinDesk·Aug 13, 20268.5

Infrastructure

Securitize Holdings Q2 2026 Earnings Call Transcript

Securitize Holdings reported Q2 2026 revenue of $14.4 million, reflecting a 5% year-over-year decline attributed to crypto market headwinds. Despite the revenue dip, the company maintains its position as a leading tokenization platform with over $5 billion in assets under management. Management highlighted a strategic shift, noting that the debate over blockchain's role in capital markets has concluded, with the focus now shifting to building regulatory infrastructure. The company continues to expand its institutional footprint through partnerships with major entities like BlackRock for tokenized Treasuries. While 2026 revenue guidance was adjusted to $70-$80 million, Securitize remains focused on growth in tokenized equities and yield-bearing assets. The firm emphasizes its end-to-end regulatory stack, which includes a registered transfer agent, investment advisor, and an alternative trading system. This transition toward on-chain financial infrastructure represents a significant modernization of global capital markets, moving away from legacy ledger systems.

#RWA #Tokenization #Securitize

benzinga.com·Aug 13, 20268.5

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