Infrastructure
Infrastructure News
Latest Infrastructure analysis and market intelligence from RWA Signal.
7.5
Infrastructure
aol.com·Jul 13
Ripple Just Got Its Full EU MiCA License. Is This Big for XRP?
Ripple has secured full Crypto Asset Service Provider (CASP) authorization from Luxembourg's CSSF, achieving complete compliance under the European Union's Markets in Crypto-Assets (MiCA) regulation. This milestone allows the company to offer regulated crypto payment services across all 30 countries in the European Economic Area. By obtaining this license, Ripple joins a select group of approximately 210 firms that successfully navigated the stringent MiCA requirements, while over 1,000 other companies were forced to cease operations in the region. This regulatory clearance significantly strengthens Ripple's infrastructure for cross-border payments, positioning it as a compliant partner for European banks and fintechs. Despite the operational success, the announcement had a negligible impact on the XRP token price, as the license covers payment services rather than the token itself. The long-term value for the RWA market depends on whether Ripple's European payment volume eventually routes through the XRP Ledger, which would increase token utility through transaction fees. Furthermore, Ripple's stablecoin, RLUSD, still requires separate MiCA approval before it can be offered to the European public, leaving a competitive gap compared to rivals like Circle's USDC.
6.5
Infrastructure
Emerging opportunities in the digital asset landscape: Tokenized securities and corporate governance
White & Case LLP explores the evolving digital asset landscape, emphasizing how tokenized securities are reshaping corporate governance and capital markets. The firm highlights that blockchain technology enables more efficient issuance, settlement, and lifecycle management of financial instruments compared to traditional legacy systems. By utilizing smart contracts, issuers can automate compliance, dividend distributions, and voting processes, thereby reducing administrative overhead and human error. This shift is particularly significant for the RWA market as it bridges the gap between institutional finance and decentralized infrastructure. The analysis notes that regulatory clarity remains a critical hurdle, yet jurisdictions are increasingly developing frameworks to accommodate these digital assets. As institutional adoption grows, the integration of tokenized securities into corporate structures promises to enhance liquidity and transparency for global investors. Ultimately, this transition represents a fundamental modernization of how ownership and governance rights are recorded and transferred on-chain.
6.5
Infrastructure
CLARITY Act Advances as Trump Ties Crypto Legislation to Graham Legacy
President Trump is intensifying pressure on the Senate to pass the CLARITY Act before the August recess, framing the legislation as a strategic imperative for U.S. technological dominance and a tribute to the late Senator Lindsey Graham. The bill, which previously received bipartisan approval from the Banking Committee, aims to establish a comprehensive regulatory framework for digital assets to ensure the nation maintains a competitive edge against global rivals. While Senators Tim Scott and Cynthia Lummis have led the legislative process, the bill faces significant hurdles, including Democratic demands for stricter ethical standards regarding the President's personal business ventures. Major industry participants such as Coinbase, Circle, and Ripple support the framework for the regulatory certainty it promises, though banking associations and labor unions remain opposed. The narrowing Republican majority following Graham's passing has complicated the vote-counting process, forcing negotiators to consolidate multiple committee versions into a unified draft. This legislative push represents a critical juncture for the RWA and broader crypto market, as standardized oversight is viewed as essential for institutional adoption. The outcome of these negotiations will determine whether the U.S. can successfully codify federal regulatory authority over blockchain-based assets before the summer adjournment.
6.5
Infrastructure
Tom Lee: Ethereum Tokenization Sets Up $5T Valuation
Market analyst Tom Lee posits that Ethereum is significantly undervalued at its current $300 billion market capitalization when measured against the potential for massive real-world asset tokenization. Lee identifies a total addressable market of $422 trillion across gold, equities, and real estate that he expects will eventually migrate onto Ethereum infrastructure. While short-term price action shows Ethereum trading near $1,772 with technical indicators suggesting consolidation, Lee maintains a long-term valuation target between $1 trillion and $5 trillion. This projection is bolstered by the anticipated synergy between artificial intelligence-driven margin expansion and the subsequent reduction in economy-wide costs. As central banks potentially ease monetary policy, the integration of these massive asset classes onto blockchain rails serves as a primary catalyst for growth. By incorporating tokenization flows into traditional price prediction models, Lee highlights a fundamental shift in how institutional capital may perceive network utility. This outlook underscores the growing importance of Ethereum as the foundational settlement layer for global financial assets.
7.5
Infrastructure
Robinhood built a blockchain for tokenized stocks. Memecoins took over
Robinhood Chain, an Ethereum layer-2 network built on Arbitrum's Orbit stack, has experienced explosive growth since its July 1 launch, reaching $312 million in total value locked. Despite being designed as a regulated venue for tokenized real-world assets (RWAs) like equities, commodities, and U.S. Treasuries, the network's primary activity is currently driven by speculative memecoin trading. Data shows that tokenized RWAs account for only $12.81 million of the chain's value, while a single memecoin, CASHCAT, has achieved a $156 million market cap. The network has successfully attracted significant liquidity, processing $3.1 billion in decentralized exchange volume over the past week and surpassing Base in daily transaction counts. Robinhood CEO Vlad Tenev has acknowledged the memecoin trend while maintaining that the chain's long-term focus remains on durable financial infrastructure. This situation highlights a recurring pattern in blockchain adoption where speculative activity precedes institutional utility. Whether Robinhood can successfully convert this transient speculative traffic into long-term adoption for its tokenized equity platform remains a critical test for the project's viability. The outcome will determine if the chain becomes a legitimate RWA hub or merely another destination for short-term crypto speculation.
6.5
Infrastructure
XRP Could Reach $35 if Citi’s $5.5T Projection for the Tokenization Market Plays Out
Franklin Templeton’s Head of Digital Assets, Roger Bayston, recently suggested that Citi’s projection of $5.5 trillion in tokenized assets by 2030 may be conservative given the vast scale of global capital markets. Currently, the XRP Ledger (XRPL) maintains a 2.28% market share of tokenized assets, representing approximately $4 billion in value. If this market share remains constant as the total tokenized sector reaches the $5.5 trillion milestone, the XRPL ecosystem could grow to hold $125.4 billion in assets. Analysts and AI models have explored how this potential expansion might influence the price of the native XRP token through various valuation frameworks. These models suggest a wide range of potential price outcomes, spanning from $3.09 to $35.43, depending on market maturity and utility-driven demand. Factors such as the XRPL’s deflationary burn mechanism and the necessity for increased liquidity pools for cross-border transactions are identified as key drivers for future valuation. While these figures remain theoretical, they highlight the significant impact that institutional adoption of blockchain infrastructure could have on native network assets. This analysis underscores the ongoing transition toward blockchain as a foundational layer for global financial operations.
9.5
Infrastructure
BlackRock, Goldman Sachs, JPMorgan, Morgan Stanley join UK government's tokenization taskforce
The U.K. government has launched a new tokenization taskforce under HM Treasury, bringing together over 50 major financial institutions including BlackRock, Goldman Sachs, J.P. Morgan, and UBS. Led by Wholesale Digital Markets Champion Chris Woolard, the initiative aims to integrate blockchain technology into wholesale financial markets, with an initial focus on tokenized repo transactions. This strategic move is designed to maintain London's competitive edge as a global financial hub by addressing the productivity and cost efficiencies inherent in digital asset infrastructure. The project anticipates significant economic growth, projecting an annual output increase of 33 billion pounds and 14 billion pounds in tax revenue by 2035. By fostering collaboration between the public sector and private industry, the U.K. seeks to secure a leading role in the global race to digitize financial assets. The effort highlights the necessity of interoperability and robust payment infrastructure to prevent digital assets from being hindered by legacy financial systems. This development underscores the broader institutional shift toward RWA tokenization, which Boston Consulting Group estimates could reach an $88 trillion market valuation by 2035.
7.5
Infrastructure
Ironlight Raises $21M To Scale Tokenized Securities Market
Ironlight has successfully raised $21 million to scale its infrastructure for tokenized securities, aiming to bridge the gap between traditional finance and blockchain-based settlement. Operating as an SEC-registered broker-dealer and alternative trading system, the firm utilizes a centralized order book paired with on-chain settlement to streamline post-trade processes for institutional investors. The platform supports a diverse range of asset classes, including private equity, fixed income, and real estate, positioning itself to capitalize on evolving regulatory frameworks. This funding round arrives as U.S. regulators, including the SEC and the Federal Reserve, increasingly clarify that existing securities laws are technology-neutral and open to controlled innovation. By integrating blockchain settlement, Ironlight seeks to reduce the operational complexity that currently hinders the efficiency of private market transactions. The development highlights a broader industry trend where regulated entities are building compliant rails to bring traditional financial products on-chain. As institutional interest grows, Ironlight's ability to operate under FINRA oversight provides a critical layer of trust for market participants navigating the transition to digital securities.
8.5
Infrastructure
Bullish Appoints Thomas Cowan as Head of Tokenization to Advance Tokenized Securities Infrastructure
Bullish has appointed Thomas Cowan as Head of Tokenization to spearhead the development of its institutional-grade infrastructure for tokenized securities. Cowan, formerly of Galaxy, brings extensive experience in compliant equity tokenization and stablecoin strategy to the firm. This strategic hire follows Bullish's recent regulatory approval from the Gibraltar Financial Services Commission to facilitate the trading of tokenized securities. The company is currently integrating its regulated exchange, CoinDesk market data services, and the pending $4.2 billion acquisition of global transfer agent Equiniti. By combining these components, Bullish aims to create a comprehensive, end-to-end lifecycle platform for tokenized assets. The acquisition of Equiniti, expected to close in January 2027, is central to establishing the firm as a primary market infrastructure provider. This development signifies a major step in bridging traditional financial registry capabilities with blockchain-based trading environments. The move underscores the growing industry trend of institutional platforms building full-stack solutions to support the mainstream adoption of tokenized financial instruments.
6.5
Infrastructure
Webull (BULL) Stock Climbs Following Landmark EU MiCA License Approval
Webull Corporation has secured authorization under the European Union's Markets in Crypto-Assets (MiCA) framework, granted by Dutch financial authorities. This milestone allows the firm to provide regulated cryptocurrency services across all EU member states, marking a strategic expansion of its digital asset footprint. The approval follows the July 1, 2026, expiration of the grandfathering period for national Crypto Asset Service Provider licenses, necessitating full compliance with the new harmonized standards. Webull plans to launch dedicated cryptocurrency trading platforms and digital asset custody solutions by late 2026. Despite reporting a negative net income in Q1 2026 due to heavy expansion spending, the company saw a 36% year-over-year revenue increase to $159.9 million. This development is significant for the RWA market as it demonstrates how major brokerage firms are integrating compliant digital asset infrastructure into traditional financial services. As regulators continue to debate frameworks for tokenized securities and DeFi, Webull's move highlights the growing institutional push toward standardized, cross-border digital asset operations in Europe.
8.5
Infrastructure
Ripple backs UK tokenization plan targeting £33B annual boost
Ripple has officially endorsed a new UK government-led strategy aimed at transitioning wholesale financial markets toward tokenized infrastructure. Spearheaded by the Wholesale Digital Markets Champion Chris Woolard, the initiative seeks to integrate on-chain funds, bonds, and repo transactions into the mainstream financial system. The strategy projects that widespread tokenization could contribute up to £33 billion in annual economic output and £14 billion in tax revenue by 2035. A taskforce comprising 54 firms from banking and digital asset sectors will focus on nine action groups, with a primary goal of executing a live end-to-end repo transaction by spring 2027. The plan also prioritizes the issuance of a digital gilt by early 2027 and seeks regulatory clarity on using tokenized bonds as collateral. By moving beyond pilot programs, the UK aims to leverage its capital market depth to capture a share of a projected $88 trillion global tokenized asset market. This shift represents a significant move toward production-grade blockchain infrastructure, though it remains contingent on establishing clear rules for custody, legal ownership, and settlement.
8.5
Infrastructure
SBI Holdings collaborates with Solana Foundation to build on-chain financial market from Japan
SBI Holdings and the Solana Foundation have entered a strategic partnership to develop an on-chain financial market originating from Japan. This collaboration aims to position Japan as a central hub for digital financial assets within the Asian market. By leveraging the Solana blockchain as the primary infrastructure, the initiative seeks to create a seamless bridge between Japanese financial markets and global liquidity. The project focuses on building robust on-chain financial infrastructure to support the next generation of digital asset trading. This move signifies a major institutional commitment to integrating traditional finance with high-performance blockchain technology. By establishing this framework, SBI Group intends to facilitate the expansion of on-chain finance across broader Asian and international jurisdictions. The partnership highlights the growing trend of major financial institutions adopting scalable public blockchains to modernize market operations and asset issuance.
9.0
Infrastructure
Swift's Blockchain Ledger Goes Live With Tokenized Deposit Pilot Across 17 Banks
Swift has officially launched a live pilot of its blockchain-based shared ledger, enabling 17 global banks across six continents to test cross-border payments using tokenized deposits. Participating institutions include major players such as Citi, HSBC, UBS, BNY, and Wells Fargo, marking a significant transition from development to production-ready infrastructure. This system allows for the movement of tokenized commercial bank money outside of traditional banking hours, including weekends and overnight, without replacing existing settlement rails. By maintaining established compliance and control frameworks, Swift aims to provide a regulated alternative to stablecoin-based payment solutions. The initiative addresses the growing demand for 24/7 liquidity management and improved corporate cross-border payment experiences. This development is critical for the RWA market as it establishes a connective layer that integrates with multiple blockchains while preserving the security of traditional finance. The success of this pilot will serve as a key indicator for the future scalability of institutional tokenized value transfers.
8.5
Infrastructure
Progmat moves ¥452B in tokenized securities to Avalanche
Progmat, Japan's leading security-token platform, has successfully migrated its entire infrastructure from Corda 5 to a dedicated Avalanche Layer 1 network. This transition involves over ¥452 billion in underlying assets and issued securities, marking a significant shift toward EVM compatibility for the platform. By adopting a mediator layer, Progmat has decoupled its business functions from a single blockchain, allowing for future multi-chain interoperability while maintaining strict regulatory compliance. The migration utilizes Solidity-based smart contracts, which Progmat claims improves rights transfer speeds by three to five times compared to the previous system. The new architecture meets SOC 1 and SOC 2 Type II standards, ensuring the platform remains suitable for institutional financial requirements. This move is a strategic step toward enabling cross-chain delivery-versus-payment and payment-versus-payment services involving stablecoins and tokenized bank deposits. While the migration enhances technical flexibility, the network remains an application-specific environment rather than an open retail trading venue. This development highlights the growing trend of major financial institutions leveraging public blockchain infrastructure to modernize legacy asset management systems.
7.5
Infrastructure
Mantle Secures $2.5B MNT Token Transfers with Chainlink CCIP Migration
Mantle has migrated its Super Portal to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to secure the cross-chain transfer of its $2.5 billion $MNT token supply. This strategic shift addresses the critical issue of bridge vulnerability, which has historically resulted in billions of dollars in losses for DeFi users. By utilizing CCIP, Mantle decouples message validation from token execution, effectively creating a risk management framework that mimics traditional financial controls. The architecture includes independent monitoring to detect abnormal behavior and features like rate-limiting to prevent catastrophic liquidity drains. This move is significant for the RWA market, as institutional capital remains highly sensitive to bridge risks while increasingly moving assets on-chain. As tokenized real-world assets surpass $20 billion in value, infrastructure security has become a primary determinant for where large-scale capital is deployed. By adopting an institutional-grade standard, Mantle aims to reduce tail risk for liquidity providers and market makers, potentially tightening spreads across decentralized exchanges. Ultimately, this integration signals that robust interoperability is a prerequisite for ecosystems managing significant on-chain value.
7.5
Infrastructure
Tokenized RWAs Hit $44.3B Market Cap According to @tokenterminal — What It Means for Investors
The tokenized real-world asset (RWA) market has achieved a record-breaking $44.3 billion market capitalization, marking a significant 120% year-over-year growth. This surge highlights a growing institutional and retail appetite for integrating traditional financial assets into the blockchain ecosystem. Data from Token Terminal identifies Ethereum, BNB Chain, and Stellar as the primary infrastructure providers facilitating this expansion. The rapid adoption of tokenized U.S. Treasuries and real estate suggests a fundamental shift in how capital is allocated across digital markets. This momentum may influence broader crypto cycles and potentially challenge Bitcoin's market dominance as investors diversify into tokenized solutions. As these assets gain traction, they are increasingly viewed as a bridge between legacy finance and decentralized protocols. The sustained growth in this sector signals that tokenization is becoming a critical component of the future financial landscape, necessitating closer monitoring by market participants.
6.5
Infrastructure
Coinbase Defends CLARITY Act, Says Bill Strengthens U.S. National Security Rather Than Weakening It
Coinbase Chief Policy Officer Faryar Shirzad has publicly defended the Digital Asset Market Clarity (CLARITY) Act, asserting that the legislation enhances U.S. national security by eliminating regulatory ambiguity. This defense directly counters claims from Senator Elizabeth Warren, who warned that the bill could inadvertently facilitate sanctions evasion and weaken oversight of the crypto industry. Shirzad argues that the current lack of clear rules allows illicit actors to operate in shadows, whereas the proposed act would mandate that digital asset platforms adhere to strict anti-money laundering and national security obligations similar to traditional financial institutions. The bill aims to empower the Treasury Department and the Financial Crimes Enforcement Network (FinCEN) with better tools to detect and block suspicious transactions. Supporters, including Senator Cynthia Lummis, contend that the legislation provides necessary jurisdictional clarity between the SEC and the CFTC while fostering innovation. For the RWA market, this debate is critical because the establishment of a robust, transparent supervisory framework is a prerequisite for the institutional adoption of tokenized assets. Ultimately, the outcome of this legislative push will determine whether the U.S. creates a secure environment for digital financial infrastructure or remains in a state of regulatory uncertainty that hinders broader market integration.
6.5
Infrastructure
AscendEX Froze Withdrawals and May Not Return User Funds After MiCA Miss
Crypto exchange AscendEX officially shut down on July 1, 2026, after failing to secure authorization under the EU's Markets in Crypto-Assets (MiCA) regulation. On-chain data from Arkham Intelligence and TRM Labs revealed that the exchange's liquidity issues began weeks prior, marked by a $240 million reserve drop in late June. Investigator ZachXBT first alerted the public to stuck withdrawals on June 26, noting that operational hot wallets were nearly depleted of major assets like ETH and USDT. The exchange admitted that a failed strategic transaction left it unable to fund user withdrawals, and it currently offers no guarantee that funds will be returned. Because AscendEX lacked a MiCA CASP license, its users are not protected by the regulation's mandatory asset segregation requirements. This collapse highlights the gap between MiCA's consumer-protection goals and the reality for users on platforms that fail to meet regulatory standards. The event underscores the critical role of on-chain transparency in identifying exchange insolvency before official announcements are made.