Infrastructure
Infrastructure News
Latest Infrastructure analysis and market intelligence from RWA Signal.
7.5
Infrastructure
Blockonomi·6d ago
Wall Street Asset Managers Back Crypto CLARITY Act as Senate Deadline Nears
The Digital Asset Market Clarity Act has gained significant attention as the U.S. Senate approaches a critical deadline for legislative action. Major financial institutions including BlackRock, Fidelity, Goldman Sachs, Grayscale, and Charles Schwab have expressed support for the bill, though they have not issued a coordinated industry declaration. These firms, managing a combined $50 trillion in assets, view the legislation as a necessary step to provide regulatory certainty for digital assets and tokenized securities. Fidelity and Goldman Sachs have specifically highlighted the need for federal rules to bolster investor confidence and market stability. The bill, which passed the House in July 2025 and cleared the Senate Banking Committee in May 2026, seeks to delineate oversight between the SEC and the CFTC. Senator Cynthia Lummis released updated text on July 22, 2026, which includes provisions for anti-money laundering and specific frameworks for tokenized stocks. Despite this momentum, the bill faces hurdles in the Senate, including a 60-vote procedural threshold and ongoing disagreements regarding ethics, investor protection, and stablecoin incentives. The outcome of this legislation is vital for the RWA market, as it aims to establish the legal foundation for tokenized assets and institutional participation in digital markets.
7.5
Infrastructure
Why India Should Treat tokenization as Financial Infrastructure Reform
India is evaluating tokenization not merely as a fintech trend but as a fundamental structural redesign of its financial market infrastructure. The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) are actively testing blockchain-based applications, including pilots for tokenized Certificates of Deposit using wholesale CBDC and explorations into corporate bond tokenization. By leveraging its existing Digital Public Infrastructure (DPI) framework—such as UPI and Aadhaar—India aims to modernize core systems like sovereign debt and trade finance. The IMF emphasizes that this transition requires a robust legal framework to ensure settlement finality, governance, and interoperability. A central challenge for Indian policymakers is balancing private sector innovation with the need for public trust anchors and systemic oversight. To avoid fragmented liquidity, India must align its domestic ledger systems with emerging global standards for cross-border tokenized finance. Ultimately, the country's success depends on integrating these new technologies into the national financial architecture while maintaining monetary sovereignty.
5.5
Infrastructure
Canton Strategic Sells Biotech Arm to Focus on Canton Network
Canton Strategic Holdings Inc. has finalized the sale of its biotech subsidiary, Gravitas Life, to an undisclosed buyer for a total consideration of $1.5 million. This divestiture marks a strategic pivot for the company as it shifts its primary focus toward the development and expansion of the Canton Network. By shedding its life sciences assets, the firm aims to consolidate its resources to capitalize on the growing demand for blockchain-based financial infrastructure. The Canton Network is positioned as a specialized ecosystem designed to facilitate the tokenization and interoperability of real-world assets across institutional platforms. This move underscores a broader market trend where legacy firms are restructuring to prioritize blockchain-native business models over traditional biotech ventures. The capital generated from this sale will be reallocated to support the technical scaling and adoption of the network's underlying protocols. Ultimately, this transition highlights the increasing institutional commitment to building dedicated infrastructure for the RWA sector.
8.0
Infrastructure
Injective Mint launches unified platform for institutional-grade tokenization
Injective has launched Injective Mint, a no-code platform designed to facilitate the issuance of compliant, tokenized real-world assets on its finance-focused Layer 1 blockchain. The platform integrates essential compliance features, including jurisdictional screening, holder restrictions, and global freeze controls, directly into its interface. A critical component of this institutional strategy is Injective's filing for SEC transfer agent registration, which would allow the blockchain to maintain official on-chain securities ownership records. This move aims to bridge the gap between traditional finance and decentralized infrastructure by automating functions typically handled by firms like Computershare. The initiative follows the June 2025 addition of BitGo as a network validator, further signaling an effort to establish institutional-grade custody and trust. While the platform simplifies asset issuance, the ultimate success of the project hinges on the unpredictable and rigorous SEC approval process. For the Injective ecosystem, increased institutional adoption could drive higher transaction volumes and demand for the native INJ token.
7.5
Infrastructure
Robinhood Chain Tops RWA Growth as Tokenized Assets Surge
Tokenized real-world assets have experienced significant growth across multiple blockchain networks, with the RWA Foundation reporting a surge in both total value and user participation. Robinhood Chain emerged as a notable leader, recording an 11,416.2% increase in tokenized asset value to reach $323.7 million over the past month. Established networks like Ethereum continue to dominate the sector with over $17 billion in onchain value, while BNB Chain and Avalanche maintain substantial institutional footprints. The total number of RWA holders has expanded significantly, rising to 1.09 million from approximately 375,000 a year ago. Trading activity on decentralized platforms like Hyperliquid further underscores this trend, as RWA-linked contracts accounted for 52% of the exchange's weekly volume. Industry experts, including ARK Invest's Lorenzo Valente and Circle's Jeremy Allaire, characterize this expansion as a structural shift toward utility-driven financial infrastructure. This rapid adoption highlights increasing competition among blockchain networks to capture institutional demand for tokenized traditional assets.
7.5
Infrastructure
Pyth Adds OpenYield as a Publisher, Bringing Live Firm Bond Quotes Onchain
Pyth Network has significantly expanded its institutional data capabilities by integrating Fenics Market Data, OpenYield, and Tradeweb as primary fixed income data providers. This integration allows for the delivery of live, executable bond quotes directly on-chain, leveraging Fenics' access to over $1 trillion in daily trading volume. By providing high-fidelity, institutional-grade pricing for fixed income assets, Pyth is bridging the gap between traditional financial markets and decentralized finance applications. This development is critical for the RWA market as it enables more accurate collateralization and valuation of tokenized debt instruments. Furthermore, Pyth has broadened its scope by launching 24/7 price discovery for U.S. equities, metals, and energy markets, alongside an expansion of Hong Kong-listed equity data. These infrastructure upgrades ensure that smart contracts can interact with real-world asset prices with greater transparency and frequency. The move reinforces Pyth's position as a vital oracle infrastructure provider for the growing ecosystem of on-chain financial products.
6.5
Infrastructure
Former Goldman Sachs and Aave executive joins Grayscale to lead onchain products
Grayscale Investments has officially launched an Onchain Asset Management division, appointing industry veteran Sebastian Pulido to lead the new unit. This strategic move aims to capture increasing institutional demand for tokenized assets and decentralized finance solutions. Pulido brings over 15 years of experience, having previously held roles at Aave Labs, JPMorgan’s Kinexys, and Goldman Sachs. His appointment signals Grayscale's intent to bridge the gap between traditional capital markets and blockchain-based investment strategies. By leveraging his background in both DeFi and Wall Street, the firm plans to develop long-term onchain products to complement its existing digital asset offerings. This expansion follows a period of growth for Grayscale, which has recently introduced staking-focused ETFs to its portfolio. The move highlights the broader industry trend of established financial firms formalizing their internal infrastructure to support the growing RWA ecosystem.
7.5
Infrastructure
Tokenization Moves Beyond Pilots as Institutional Adoption Gains Traction - citybuzz -
Tokenization is transitioning from experimental pilot programs to production-grade implementation within global financial markets. Industry leaders like BlackRock’s Robbie Mitchnick and Digital Currency Group’s Barry Silbert emphasize that blockchain is being adopted as a modernization layer for existing financial infrastructure rather than a replacement system. Institutions are prioritizing operational efficiencies, such as improved settlement windows, enhanced collateral management, and increased liquidity, over speculative use cases. This shift marks a maturation of the sector, where the market now rewards companies solving tangible institutional problems rather than those focused on theoretical concepts. Past market cycles and high-profile collapses have forced a pivot toward more sophisticated risk management, governance, and due diligence standards. As financial institutions integrate blockchain into their back-end operations for bonds, private credit, and money market funds, the technology is becoming an integrated component of modern finance. This incremental progress, while often occurring behind the scenes, signals that tokenization has moved beyond the phase of needing to justify its existence to a stage of widespread institutional adoption.
7.5
Infrastructure
Binance Dominates Social Chatter on RWAs and Tokenized Stocks as Narratives Shift to TradFi
Mid-2026 social data from Santiment reveals that Binance is significantly outpacing competitors like OKX and Bybit in discussions surrounding real-world assets (RWAs), tokenized stocks, and stablecoins. This shift in narrative dominance suggests that major centralized exchanges are positioning themselves as the primary gateways for traditional finance assets moving on-chain. With RWA tokenization recently surpassing $20 billion in total value locked, the market is increasingly prioritizing infrastructure over speculative assets like memecoins. While social chatter does not always guarantee immediate on-chain volume, it often serves as a leading indicator for future listing activity and market-making commitments. Institutional players, including JPMorgan and Bullish, are actively engaging with these tokenized instruments, signaling a broader industry pivot toward yield-bearing fiat-linked products. However, the sector faces ongoing regulatory uncertainty in Washington, which could either accelerate or hinder the integration of these assets. Ultimately, the competition for narrative share reflects a strategic race among exchanges to capture the next wave of institutional and retail capital flowing into tokenized traditional finance.
8.5
Infrastructure
Unlocking onchain collateral
HQLAᵡ is transforming the securities lending market by leveraging distributed ledger technology to enable real-time collateral mobility. By utilizing the Digital Collateral Registry, the platform allows market participants to exchange high-quality liquid assets (HQLA) without the need for traditional settlement cycles. This shift addresses the systemic inefficiencies of fragmented liquidity pools, which often lead to trapped collateral and increased capital costs for major financial institutions. The platform operates on the R3 Corda blockchain, ensuring that ownership transfers are instantaneous and legally robust across multiple jurisdictions. Major banks, including Goldman Sachs, J.P. Morgan, and Commerzbank, have already integrated with the system to optimize their liquidity management. This development is significant for the RWA market as it demonstrates how tokenization can solve complex operational bottlenecks in global finance. By digitizing the underlying assets, HQLAᵡ provides a scalable blueprint for institutional-grade collateral management that reduces counterparty risk and enhances market stability.
7.5
Infrastructure
Crypto Biz: Is the AI-to
Institutional interest in digital assets is showing signs of recovery as US spot Bitcoin ETFs recorded six consecutive days of inflows totaling $930 million. This renewed momentum coincides with a cooling trend in AI-related equities, as the Philadelphia Semiconductor Index entered a technical bear market. Market participants are increasingly optimistic about the CLARITY Act, which aims to establish a formal regulatory framework for the digital asset industry in the United States. Simultaneously, Bitcoin mining firms like Hut 8 and IREN are pivoting toward AI infrastructure, securing multi-billion dollar contracts to diversify revenue streams. Bernstein analysts highlighted that the future growth of brokerages like Robinhood will be driven by the integration of tokenized equities and prediction markets. Robinhood is leveraging its Arbitrum-based layer-2 network to facilitate the transition of real-world assets onto the blockchain. This shift reflects a broader Wall Street trend, with firms such as Broadridge, Alpaca, Securitize, and Cantor Fitzgerald actively expanding their blockchain-based securities infrastructure.
8.5
Infrastructure
HSBC Wins Approval to Enter Digital Securities Sandbox with Orion Launch
The United Kingdom Treasury has released a report outlining a strategic 12-month roadmap to transition wholesale financial markets toward blockchain-based infrastructure. This initiative focuses on migrating tokenized repo agreements, fixed-income securities, and investment funds from experimental pilot programs into live production environments. Ripple has secured a significant role within this framework, positioning the company as a key technology provider for the U.K.'s digital market modernization efforts. By integrating distributed ledger technology into traditional wholesale operations, the government aims to enhance settlement efficiency and reduce operational friction in capital markets. This development represents a major institutional endorsement of tokenization as a viable mechanism for systemic financial infrastructure. The inclusion of Ripple in this national plan highlights the growing convergence between established financial institutions and enterprise-grade blockchain providers. Ultimately, this move signals a shift toward regulatory and technical standardization for tokenized assets within the British financial ecosystem.
9.5
Infrastructure
HSBC first bank to receive BoE approval for Digital Securities Sandbox
HSBC has become the first financial institution to receive approval from the Bank of England to operate within the UK’s Digital Securities Sandbox. This regulatory milestone allows the bank to utilize its HSBC Orion platform to perform live securities depository and settlement services using distributed ledger technology. By waiving legacy regulatory requirements, the sandbox enables HSBC to provide the central bank with critical real-world data on the efficacy of tokenized financial infrastructure. A primary objective of this participation is the inaugural issuance of the government’s Digital Gilt Instrument, or DIGIT, scheduled for the first quarter of 2027. This pilot project represents a significant step in the UK government's broader strategy to digitize financial markets and foster sector-wide innovation. The initiative aligns with recent treasury reports suggesting that a transition to digitized finance could generate a £33 billion economic uplift for the UK. This development marks a pivotal shift toward institutional adoption of DLT for sovereign bond issuance and lifecycle management.
7.5
Infrastructure
Galaxy cuts Clarity Act passage odds to 30%, says bill needs ‘last
A group of seven Democratic negotiators has formally requested significant revisions to the latest draft of the Clarity Act, specifically demanding more robust ethics and consumer protection provisions. This legislative pushback creates a critical hurdle for the bill, which aims to establish a comprehensive regulatory framework for digital assets in the United States. Galaxy Digital analysts have responded to these developments by lowering the probability of the bill's passage during the current legislative session to 30%. The impasse highlights the ongoing tension between industry-friendly regulatory proposals and the demands of lawmakers focused on investor safeguards. For the RWA market, the uncertainty surrounding this legislation complicates the path toward institutional adoption and legal clarity for tokenized assets. As the bill faces a last-ditch effort to reconcile these competing interests, the broader crypto and RWA ecosystem remains in a state of regulatory limbo. The outcome of these negotiations will likely dictate the speed at which traditional financial institutions can integrate tokenized real-world assets into their portfolios under a clear U.S. legal mandate.
7.5
Infrastructure
Broadridge Financial Solutions (BR) Fell Amid Concerns Over AI Disruption and Tokenized Equities
SouthernSun Asset Management's Q2 2026 investor letter highlights Broadridge Financial Solutions as a significant holding despite recent share price underperformance. The firm attributes Broadridge's market pressure to investor fears regarding the potential for AI to erode its technology franchises and the risk that tokenized equities might disintermediate its core governance business. SouthernSun argues these concerns are overstated, noting that the SEC maintains that tokenized securities remain subject to the same strict governance and compliance obligations as traditional equities. Furthermore, the firm expects that most tokenized assets will continue to be processed through existing broker-dealers and digital platforms that currently utilize Broadridge's infrastructure. Broadridge continues to report 7% recurring revenue growth and 11% Adjusted EPS growth, maintaining a strong competitive position in proxy voting and fixed-income trading. The firm views the current valuation as compelling given the company's leverage profile and long-term contract structure. This analysis underscores the ongoing debate regarding how blockchain-based asset tokenization will integrate with, rather than replace, established financial market intermediaries.
7.0
Infrastructure
tZERO CEO Says XRP Has an Edge Over Bitcoin for Tokenized Capital Markets
Allen Konevsky, Chairman and Chief Executive of tZERO Group, argues that assets like XRP and Ether are superior to Bitcoin for building tokenized capital markets due to their functional utility as infrastructure ingredients. While Bitcoin is viewed primarily as a store of value, Konevsky emphasizes that programmable assets are essential for the emerging machine-to-machine economy driven by AI agents. He identifies real estate as a highly underrated asset class for tokenization, noting that current regulatory complexities regarding the securitization of single-asset properties have hindered meaningful scale. tZERO, which holds a rare special purpose broker-dealer license from the SEC, is actively advocating for regulatory changes to reduce silos between traditional financial entities and crypto markets. Konevsky suggests that the CLARITY Act provides a framework for better integration, allowing regulated broker-dealers to offer crypto products more directly to clients. By lowering these barriers, he believes the industry can achieve the user experience necessary to drive mass adoption of tokenized assets. Ultimately, the firm remains focused on evolving the infrastructure required to support efficient, programmable value transfer in a digital-first financial system.
8.0
Infrastructure
State Street lands first external client for tokenized fund servicing
State Street has secured its first external client, a major European asset manager, for its tokenized fund servicing platform based in Luxembourg. This development follows the bank's April announcement to provide administration, custody, and transfer agency services for tokenized money market funds. The initiative leverages State Street's Digital Asset Platform, which utilizes custody and tokenization technology provided by Taurus. By expanding its services to external clients, the bank is positioning itself to compete directly with established players like Clearstream, Euroclear, and Apex Group. This move signifies a broader institutional shift toward integrating distributed ledger technology into traditional fund administration workflows. The expansion into Luxembourg is particularly significant given the region's status as a global hub for investment funds. As traditional financial institutions continue to adopt DLT, the infrastructure for tokenized assets is becoming increasingly robust and competitive.
7.5
Infrastructure
DeFi’s next institutional hurdle is deciding who can be trusted to price real-world assets
The integration of real-world assets into decentralized finance faces a critical bottleneck regarding the reliable valuation of off-chain collateral. While blockchain technology enables transparent settlement, the reliance on centralized oracles to feed pricing data for assets like private credit or real estate introduces significant counterparty risk. Institutional participants require robust, verifiable pricing mechanisms that align with traditional financial standards to ensure market stability and regulatory compliance. Current solutions often struggle to bridge the gap between opaque off-chain markets and the immutable nature of on-chain ledgers. This challenge necessitates the development of decentralized oracle networks or specialized valuation services that can provide audit-ready data without compromising the trustless ethos of DeFi. Solving this pricing dilemma is essential for scaling RWA adoption beyond experimental pilots and into mainstream institutional portfolios. Failure to establish standardized, trusted valuation protocols could hinder the broader transition of traditional assets onto public or private blockchains.