Infrastructure News

Ripple just tokenized Brazilian markets

Ripple has officially partnered with CSD BR to tokenize Brazilian capital markets using the XRP Ledger, marking a significant expansion of its institutional footprint in Latin America. The initiative begins with the tokenization of shares from a BTG Pactual fund, which will be secured through Ripple Custody services. This development coincides with a period of record-breaking liquidity on the XRP Ledger, where stablecoin supply has reached an all-time high of $1.2 billion. Notably, the RLUSD stablecoin accounts for over 90% of this supply, with its own total circulation hitting a record $2.5 billion. While the network experiences these fundamental improvements in institutional adoption and liquidity, the native XRP token faces market volatility characterized by rising leverage and potential selling pressure on exchanges. The integration of Brazilian financial assets onto the ledger highlights Ripple's strategy to bridge traditional finance with blockchain infrastructure. Ultimately, the success of these tokenization efforts serves as a critical test for whether network utility can decouple from speculative price action. This move positions the XRP Ledger as a key player in the evolving landscape of global asset tokenization.

AMBCrypto·Sep 30, 20267.5

What Happens to Your Tokenized Asset If the Issuer Goes Bankrupt?

The legal structure underlying a tokenized asset determines investor protection in the event of an issuer's bankruptcy. While blockchain technology enables rapid settlement and 24/7 trading, it does not inherently shield assets from the insolvency of the entity that issued the token. The SEC distinguishes between issuer-sponsored tokens, where the blockchain record may serve as an official ownership system, and third-party tokens that often represent mere contractual claims. In regulated fund structures, underlying assets are typically held by independent custodians, separating them from the issuer's corporate property. Conversely, if a token functions as an unsecured obligation of a fintech firm, investors may be relegated to the status of general creditors during bankruptcy proceedings. This distinction is critical because the economic value of an RWA token relies on the legal arrangement connecting the digital record to the physical asset. Ultimately, tokenization adds complexity by involving multiple entities, including tokenizers, SPVs, and custodians, which necessitates a clear understanding of custody terms and asset segregation. Investors must recognize that blockchain efficiency does not replace the need for traditional financial safeguards and legal separation of assets.

coinpaper.com·Sep 30, 20267.5

ESMA responds to Commission’s consultation on the review of MiCA

On 30 September 2026, the European Securities and Markets Authority (ESMA) submitted its formal response to the European Commission regarding the review of the Markets in Crypto-Assets Regulation (MiCA). The regulator advocates for a more robust framework that bridges the gap between crypto-asset service providers (CASPs) and traditional financial instruments under the Markets in Financial Instruments Directive II (MiFID II). ESMA specifically proposes new regulatory oversight for decentralized finance (DeFi) gateways and protocols to mitigate cross-border risks. The recommendations include granting ESMA binding powers over token classification and introducing stricter requirements for staking, lending, and borrowing services. Furthermore, the proposal seeks to enhance investor protection through increased cost transparency and tighter marketing restrictions. By aligning MiCA with broader financial supervisory packages, ESMA aims to ensure that tokenized assets are subject to standards comparable to traditional securities. This development is critical for the RWA market as it signals a regulatory shift toward harmonizing the treatment of tokenized real-world assets with established financial market infrastructure.

regulationtomorrow.com·Sep 30, 20268.0

Hyperliquid Co-founder Jeff Yan says 24-hour clock is not onchain finance’s true differentiator

Hyperliquid co-founder Jeff Yan argued at Korea Blockchain Week 2026 that the primary value proposition of onchain finance is self-custody and transparency rather than 24/7 trading capabilities. While traditional exchanges are increasingly extending their operating hours, Yan emphasized that onchain systems provide a critical advantage by allowing users to retain control of their funds, mitigating counterparty and intermediary risks. He noted that the inherent neutrality of blockchain systems fosters a level of trust that centralized, private organizations cannot replicate. Despite the lack of mass-market appeal for technical transparency, Yan highlighted its importance for system integrity during critical market events. The discussion extended to the potential for tokenizing private markets, which are currently gate-kept and restricted by traditional financial structures. By enabling global price discovery for private assets on platforms like Hyperliquid, the industry could democratize access to wealth-generating opportunities. This shift represents a move toward a more inclusive global financial system that operates beyond the constraints of individual jurisdictions.

The Block·Sep 30, 20265.5

Anchorage Digital Supports Onchain Custody for Baillie Gifford Bond Fund

tipranks.com·Sep 30, 20267.5

Digital Asset expands cooperation with Shinhan, Hanwha, targets onchain shift in South Korea finance

Digital Asset, a U.S.-based blockchain infrastructure firm, is deepening its strategic footprint in South Korea through partnerships with Shinhan Financial Group and Hanwha Investment & Securities. Shinhan Asset Management has officially become the first South Korean firm to serve as a super validator on the Canton Network, a permissioned blockchain designed for institutional finance. Shinhan Financial is currently evaluating the integration of its payment, settlement, and securities tokenization infrastructure with the Canton ecosystem. Simultaneously, Hanwha Investment & Securities has invested approximately 30 billion won into Digital Asset to bolster its next-generation financial services. CEO Yuval Rooz emphasized that the collaboration aims to modernize trade finance, cross-border payments, and the tokenization of domestic equities for global accessibility. By aligning with South Korean regulatory frameworks, Digital Asset seeks to facilitate the onchain transition of traditional products like ETFs and money market funds. This expansion highlights the growing institutional interest in utilizing interoperable, permissioned networks to bridge South Korean export-driven industries with global capital markets.

digitaltoday.co.kr·Sep 30, 20267.5

$1 Billion XRP Treasury Closes in Nasdaq Listing Amid Tokenization Boom: Main Crypto News This Morning

Evernorth Holdings and Armada Acquisition Corp. II have concluded the proxy voting phase for their merger, paving the way for a Nasdaq listing under the ticker XRPN. This entity will manage a treasury exceeding $1 billion in XRP, backed by institutional commitments from firms like SBI Holdings and Arrington Capital. Simultaneously, Ripple is expanding its RWA footprint in Latin America through a partnership with Brazil's Central Securities Depository to tokenize BTG Pactual investment funds on the XRP Ledger. These developments occur as the broader RWA market reaches a net on-chain value of $38.54 billion, with tokenized stocks and ETFs emerging as high-growth segments. While the market anticipates the scheduled release of 1 billion XRP from escrow, the focus remains on the integration of traditional financial infrastructure with blockchain-based audit layers. The regulatory environment is evolving, with the SEC granting innovation exemptions for tokenized stock trading via automated market makers. These milestones signify a shift toward institutional-grade RWA tokenization, bridging the gap between traditional capital markets and distributed ledger technology.

u.today·Sep 30, 20267.5

Dune report finds tokenized markets often diverge from the assets they reference

A new report from Dune Analytics reveals that the tokenized real-world asset market has surpassed $34 billion in total value, yet liquidity remains highly fragmented across different asset classes. While tokenized cash equivalents represent the largest segment at $18 billion, they exhibit minimal trading activity and are heavily concentrated in short-dated U.S. Treasuries. Conversely, tokenized stocks account for only 8% of the total market but generate 93% of onchain trading volume. The data highlights a significant divergence between onchain and traditional markets, particularly in how credit and commodities are utilized. For instance, approximately 20% of onchain credit is used as collateral in decentralized finance protocols, whereas traditional markets rely primarily on government bills. Furthermore, tokenized gold holdings have surged by 73% year-over-year, significantly outpacing the 29% growth in the underlying gold price. These findings suggest that onchain markets are increasingly serving as venues for perpetual trading and synthetic exposure rather than simple mirrors of traditional asset behavior. This analysis provides a critical benchmark for understanding the maturity and utility of RWA tokenization as the sector evolves beyond initial issuance.

globenewswire.com·Sep 30, 20268.0

New report finds that rapid expansion of tokenization is giving rise to new styles of investing

A new report from data analytics platform Dune reveals that the tokenized real-world asset market has surpassed $34 billion in total supply as of 2026. While Wall Street initially viewed tokenization as a way to replicate legacy products, on-chain investors are instead building a 24/7 financial system that prioritizes individual stock trading and decentralized lending. Tokenized stocks have experienced explosive growth, rising over 2,000% with active holders exceeding one million. Data indicates that individual equities now account for 81% of tokenized stock holdings, contrasting with the traditional finance preference for passive index-based ETFs. Furthermore, the report highlights a shift in collateral usage, where tokenized private credit dominates decentralized lending platforms over traditional Treasury-backed assets. Major institutions like Franklin Templeton, BlackRock, and Nasdaq are actively participating in this ecosystem, while the SEC has begun allowing limited testing for blockchain-based equity trading. This divergence in trading behavior suggests that tokenization is fostering a unique market architecture that fundamentally differs from traditional financial norms.

fortune.com·Sep 30, 20268.0

European Commission reviews MiCA regulations to balance market access and compliance costs

The European Union's Markets in Crypto-Assets Regulation (MiCA) is undergoing a critical review as the European Commission collects feedback on its implementation. While the framework successfully established a passporting regime for 450 million consumers, it faces significant operational hurdles. As of September 1, 2026, there are 39 authorized e-money tokens, yet the number of authorized asset-referenced tokens remains at zero. Compliance costs for crypto-asset service providers are reaching millions of euros annually, creating a substantial barrier for market participants. The European Banking Authority has recommended further tightening regulations around multi-issuer stablecoins to address supervisory challenges. Public consultation concluded on September 30, 2026, with findings expected to inform legislative amendments by June 2027. This stress test is pivotal for the RWA market, as the current lack of asset-referenced token approvals suggests the framework may require adjustments to facilitate broader institutional adoption.

cryptobriefing.com·Sep 30, 20268.0

EU industry body AFME on MiCA 2: critical to keep securities under MiFID II

The Association for Financial Markets in Europe (AFME) has formally opposed proposals to bring tokenized securities under the MiCA regulatory framework, arguing they should remain governed by MiFID II. AFME contends that shifting these assets to MiCA would create significant legal uncertainty, increase operational costs, and negatively impact market liquidity and collateral eligibility. The European Banking Authority (EBA) echoed these concerns, emphasizing that moving DLT-based securities to MiCA could disrupt existing banking authorizations and Basel prudential standards. A primary point of contention involves the ambiguity between asset-referenced tokens (ARTs) and tokenized money market funds. Despite the potential for confusion, the industry notes that zero ARTs have been authorized to date, making a legislative overhaul appear premature. AFME also advocated for adjustments to stablecoin concentration limits and clarified that tokenized deposits should remain under established banking frameworks. This debate is critical for the RWA market as it determines whether tokenized financial instruments will operate under established securities laws or a new, potentially restrictive crypto-specific regime. Maintaining the MiFID II status quo is viewed by industry leaders as essential for ensuring the seamless integration of tokenized assets into traditional financial systems.

ledgerinsights.com·Sep 30, 20268.0

Tokenised Equity Has Rules Now, and Every Rule Tests the Share Register

The SEC's 2026 regulatory framework, including the 17 September Innovation Exemption, establishes that tokenized shares must provide identical rights to traditional equity, specifically regarding dividends, voting, and liquidation. This mandate forces tokenized equity platforms to ensure their on-chain records reconcile perfectly with the issuer's master securityholder file. Recent failures, such as the cancellation of SpaceX pre-IPO token offerings by Binance, Bybit, and Bitget, highlighted that the primary challenge is not technical minting but securing actual stock ownership. The SEC now requires Tokenized Securities Venues (TSVs) to verify that tokenized assets mirror traditional NMS stock privileges. Furthermore, the SEC's guidance emphasizes the necessity of robust cryptographic standards, noting that signature schemes like those used on Ethereum and Solana face long-term quantum-vulnerability risks. As of 30 September 2026, RWA.xyz reports 7,691 tokenized stocks valued at $3.14 billion, a small fraction of the $114 trillion in assets held by the DTC. Companies like Bullish and Securitize are already adopting issuer-sponsored models to ensure their tokenized equity remains legally tethered to official capital tables.

livetradingnews.com·Sep 30, 20269.0

Pantera Deep Dive on Tokenization: Issuance Is No Longer the Challenge, Liquidity Is the Real Bottleneck

Pantera Capital's September 2026 report reveals a tokenized asset market comprising 671 assets with a $331.8 billion market cap, noting a 13.3% growth in non-stablecoin assets despite a slight overall market decline. While tokenized U.S. Treasuries and private credit expanded significantly, the report highlights a critical liquidity bottleneck, as permissioned assets account for 59% of market cap but only 0.2% of spot trading volume. The analysis introduces a Tokenization Maturity Index, finding that most products remain simple on-chain wrappers rather than native hybrid models. Secondary market activity is heavily concentrated in open-access assets, while perpetual derivatives on platforms like Hyperliquid and Lighter have surged, often dwarfing spot market volumes. The launch of the Robinhood Chain mainnet in July 2026 demonstrated rapid growth in retail-facing RWA trading, though portfolio concentration remains high with 1% of holders controlling 95% of assets. Furthermore, the report identifies RWA-backed lending via protocols like Morpho as a vital utility, with private credit showing higher DeFi integration than Treasuries. Regulatory developments remain mixed, as the CLARITY Act stalled in the Senate, yet the SEC granted a five-year conditional exemption for tokenized equity trading venues to foster secondary market development.

techflowpost.com·Sep 30, 20268.0

Ripple and CSD BR Bring Brazilian Investment-Fund Shares On-Chain via the XRP Ledger

Brazilian securities infrastructure provider CSD BR has partnered with Ripple to integrate the XRP Ledger into its live financial market operations. The initiative uses the XRP Ledger to mirror records of BTG Pactual investment fund shares, serving as an additional audit layer for authorized participants. By utilizing the Multi-Purpose Token (MPT) standard, CSD BR aims to test blockchain performance within a regulated environment without replacing existing legal settlement frameworks. CSD BR, which manages over 22 trillion Brazilian reais in assets, retains control over official records, KYC/AML compliance, and transaction reversals. This project represents a shift from sandbox testing to real-world application, allowing for near real-time verification of asset ownership. Future phases may explore direct issuance and trading of assets like Real Estate Receivables Certificates (CRI) and Agribusiness Receivables Certificates (CRA). This integration highlights a strategic approach to modernizing national capital market infrastructure by layering blockchain transparency over traditional, regulated systems.

cryptotimes.io·Sep 30, 20268.0

Meritz Securities to Launch Fractional Ship Investment in November, Expand Into Tokenized Securities Next Year

Meritz Securities is strategically expanding its tokenized securities business in South Korea, beginning with a pilot project for fractional ship investment in collaboration with the Korea Ocean Business Corp. The brokerage plans to issue bond-type trust beneficiary certificates backed by maritime assets, aiming for a listing on the Korea Exchange’s market for innovative securities by the end of 2026. Managing Director Kang Byung-ha emphasized that while current RWA revenue for traditional financial institutions remains negligible due to high infrastructure costs, the firm is positioning itself for long-term growth over the next three to five years. The initiative seeks to diversify the local fractional investment market, which has historically been limited to assets like art and copyrights. By leveraging blockchain technology, Meritz aims to eventually facilitate cross-border capital flows, potentially allowing Korean investors to access private U.S. equities and global investors to trade major Korean stocks like Samsung Electronics. Kang noted that the success of this transition depends on regulatory frameworks that balance investor protection with market demand. Ultimately, the firm views tokenization as a tool to remove capital borders, arguing that the ability to package and distribute assets will eventually drive net inflows into the Korean market.

en.bloomingbit.io·Sep 30, 20267.5

Ledger and Kraken’s parent Payward bring cold storage to tokenized stocks

Ledger and Payward, the parent company of Kraken, have partnered to enable the cold storage of tokenized stocks on physical hardware wallets. This integration allows users of Payward’s xStocks platform to secure their equity holdings offline, requiring a physical signature on a Ledger device to finalize transactions. By applying crypto-native self-custody principles to traditional equities, the partnership aims to mitigate risks associated with remote hacking and unauthorized account access. The initiative leverages a recent SEC innovation exemption for tokenized stocks, which has provided the regulatory clarity necessary to accelerate product development in the United States. Ledger is currently exploring similar integrations with other major platforms, including Coinbase, Binance, and Robinhood, to expand the reach of this security model. While the practical necessity of cold storage for stocks remains debated given the existing security of traditional brokerages, the move represents a significant convergence of crypto infrastructure and legacy financial assets. The success of this model will depend on whether traditional investors adopt self-custody practices to protect against emerging threats like AI-driven cyberattacks.

cryptonews.net·Sep 30, 20267.5

Digital Assets Summit 2026 to spotlight tokenised finance

The Digital Assets Association Singapore has announced the second edition of the Digital Assets Summit 2026, scheduled to take place at the SGX Centre. This event aims to address the transition of tokenized finance from experimental pilot projects to scalable, mainstream financial applications. Industry data highlights significant momentum, noting that Asia currently accounts for 60% of global stablecoin payment volume. Furthermore, the market for digital real-world assets on public blockchains experienced 300% growth in 2025, reaching a valuation of approximately USD $30 billion. The summit will convene over 500 attendees and 40 speakers to discuss critical infrastructure needs, including liquidity management, cross-border regulatory alignment, and operational resilience. By focusing on governance and institutional integration, the event reflects a broader shift in the financial sector toward practical, large-scale implementation of tokenized bonds, funds, and deposits. This gathering underscores Singapore's strategic role as a hub for connecting blockchain-based finance with established institutional frameworks.

cfotech.asia·Sep 30, 20267.5

Wall Street Tokenization Explained: Will Blockchain Replace Today's Stock Trading Stack?

The U.S. Securities and Exchange Commission issued an order on September 17 allowing blockchain-based venues to trade tokenized versions of listed U.S. stocks without registering as traditional exchanges. This regulatory relief, which expires in five years, mandates that each token must retain the same rights as the underlying traditional share while imposing caps on trading volume and symbols. Industry experts Nick Cherney of Janus Henderson and Gabor Gurbacs of Openassets suggest this move could eventually replace significant portions of Wall Street's legacy trading infrastructure. By streamlining the current process, which often involves up to nine intermediaries, tokenization aims to reduce costs and improve settlement efficiency. Despite the potential for innovation, experts note that the current user experience for investors will likely remain largely unchanged in the near term. While Janus Henderson has seen institutional interest in offshore tokenized funds reaching up to $1 billion, this remains a fraction of the $24 trillion global ETF market. Ultimately, the transition is viewed as an inevitability that will likely unfold in stages as the industry tests the limits of this new regulatory framework.

BeInCrypto·Sep 30, 20268.5