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U.S. Treasuries

Fidelity explores wider access to its Ethereum tokenized money market fund

Fidelity is currently evaluating strategies to expand access to its Ethereum-based tokenized money market funds, which are currently restricted to professional and institutional investors. The asset manager is considering lowering eligibility barriers and introducing daily or intraday yield features to enhance the utility of its on-chain cash products. This initiative builds upon the existing Fidelity Digital Interest Token (FDIT) and the Fidelity USD Digital Liquidity Fund (FILQ), both of which represent the firm's strategic push into blockchain-based financial infrastructure. FDIT, launched in 2025, utilizes Ondo Finance’s OUSG to provide exposure to Treasury-focused assets, while FILQ operates as an ERC-20 token on Ethereum with a Moody’s Aaa-mf rating. By exploring broader distribution channels, Fidelity aims to capture a larger share of the rapidly growing tokenized liquidity market, which has recently surpassed $15 billion in total value. This shift is significant as it signals a potential transition from exclusive institutional pilots to more accessible on-chain financial products. As major players like BlackRock and JPMorgan continue to develop their own tokenized offerings, Fidelity’s move highlights the increasing importance of on-chain liquidity as foundational plumbing for the broader DeFi ecosystem.

#Ethereum #TokenizedTreasuries #Fidelity

cryptobriefing.com·Oct 2, 20268.0

U.S. Treasuries

The Tokenized Stock Market Might Double Soon

The U.S. Commodity Futures Trading Commission (CFTC) recently authorized futures commission merchants (FCMs) to utilize tokenized assets as collateral for segregated customer funds, provided they meet Regulation 1.25 standards. This regulatory shift opens a potential $11 billion market opportunity if FCMs allocate just 2.5% of their $442.7 billion in customer funds to tokenized Treasuries. Simultaneously, the tokenized stock market has seen explosive growth, with onchain holders surging from 70,000 to 4.01 million over the past year, led by platforms like Robinhood and bStocks. To address regulatory hurdles regarding shareholder rights, the newly formed Issuer Sponsored Token Coalition is coordinating with issuers to align tokenized shares with official registers. Meanwhile, the tokenized gold market has rebounded to $5.1 billion, bolstered by Tether Gold's significant growth and increasing utility as loan collateral. These developments collectively signal a maturing ecosystem where tokenized assets are transitioning from speculative instruments to functional components of institutional financial infrastructure. The integration of these assets into regulated collateral frameworks marks a critical milestone for broader adoption in traditional finance.

#RWA #BUIDL #TokenizedTreasuries

theblock.co·Oct 2, 20269.0

U.S. Treasuries

Superstate Expands Tokenized Short-Duration US Treasury Fund (USTB) To Base

Superstate has officially expanded its tokenized short-duration U.S. Treasury fund, known as USTB, to the Base blockchain as of September 30, 2026. This strategic deployment marks a significant step in the integration of institutional-grade financial products into scalable, high-performance layer-two ecosystems. By leveraging Base, Superstate aims to enhance the accessibility and liquidity of its Treasury-backed assets for a broader range of digital asset participants. The expansion underscores a growing trend among RWA issuers to prioritize infrastructure that supports transparent, compliant, and efficient transaction flows. Industry analysts view this move as a critical development for the broader digital asset ecosystem, reflecting a pivot toward more robust institutional frameworks. As institutional participation continues to accelerate, the availability of USTB on Base provides a new venue for collateral management and yield-bearing activities. This development sets a notable precedent for how traditional financial instruments are being adapted for decentralized finance environments to ensure long-term market stability.

#Base #RWA #Superstate

tradingview.com·Sep 30, 20268.0

U.S. Treasuries

Franklin Templeton’s Chetan Karkhanis: Asia leads in tokenized finance

Franklin Templeton is aggressively expanding its tokenized finance footprint in Asia, identifying Korea, Japan, Singapore, and Hong Kong as leaders in the sector. The firm asserts these markets are two to three years ahead of global peers, supported by clear regulatory frameworks like Singapore’s Monetary Authority guidelines and Hong Kong’s Fintech 2030 plan. Franklin Templeton has executed a series of strategic launches, including Hong Kong’s first tokenized money market fund in November 2025 and a partnership with DBS Bank for a Singaporean retail fund. Further expansion occurred in 2026 through collaborations with DigiFT and HashKey Exchange to distribute tokenized products and the Franklin OnChain U.S. Government Liquidity Fund. These initiatives leverage the proprietary Benji platform, which facilitates fractional ownership and on-chain settlement for traditional assets. The firm’s strategy focuses on familiar products like Treasuries and money market funds to drive institutional adoption rather than speculative DeFi applications. This regional momentum mirrors broader market trends, where total tokenized RWA volume on public blockchains surged from $5.5 billion in 2021 to $18.6 billion by 2025. By prioritizing pragmatic integration, Franklin Templeton aims to enhance traditional financial infrastructure through blockchain efficiency.

#Tokenization #FranklinTempleton #BENJI

cryptobriefing.com·Sep 30, 20268.0

U.S. Treasuries

BUIDL Leads US Treasury Debt RWA Returns With 371.98%

The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has emerged as the top-performing asset in the U.S. Treasury debt RWA category according to RWA.xyz data. The fund currently reports a 30-day return of 371.98%, with consistent performance metrics of 374.69% over three months and 377.64% year-to-date. Despite a reported 20% decline in total assets under management to $2.2 billion, the fund is experiencing growth in both active addresses and total holder count. Launched on March 20, 2024, BUIDL operates as a British Virgin Islands Limited Company with Securitize acting as the platform and transfer agent. The fund maintains a $5 million minimum investment requirement and is restricted to U.S. Qualified Purchasers. Its multi-chain strategy has expanded its availability across nine networks, including Ethereum, Solana, and Arbitrum. This performance data highlights the increasing on-chain footprint of institutional-grade tokenized government debt products. The ability to process daily subscriptions and redemptions while distributing daily income remains a core feature of its market appeal.

#RWA #BUIDL #TokenizedTreasuries

cryptorank.io·Sep 29, 20267.5

U.S. Treasuries

Pantera Capital: 81% of tokenized Treasury value is held, not traded

Pantera Capital’s Q1 2026 State of Tokenization report reveals that the total tokenized asset market has reached $321 billion, marking a 60% increase from 2024. Despite this growth, the report highlights that 77.6% of these assets are merely digital wrappers rather than native on-chain tokens. Tokenized U.S. Treasuries have surpassed $12 billion in value, yet 81% of these holdings remain stagnant rather than actively traded in secondary markets. Pantera introduced the Tokenization Progress Index (TPI) to evaluate on-chain functionality, finding an average score of only 2.04 out of 5 across the industry. Stablecoins continue to dominate the sector, representing 91.6% of the total market value with $293 billion. While 168 new tokenized assets launched in 2025, most prioritize speed to market over deep blockchain integration, relying heavily on traditional custodians. This data underscores a significant gap between the rapid expansion of tokenized products and the actual realization of decentralized, autonomous financial infrastructure.

#Stablecoins #Tokenization #DeFi

cryptobriefing.com·Sep 29, 20268.0

U.S. Treasuries

Multiliquid expands liquidity routes for JTRSY and JAAA tokenized funds

Uniform Labs has expanded its Multiliquid protocol to support JTRSY and JAAA tokenized funds, enabling 24/7 atomic swaps into stablecoins like USDC. By functioning as a neutral liquidity aggregation layer on Ethereum and Solana, the protocol allows multiple providers to quote prices, effectively eliminating traditional T+1 settlement delays. This development marks a significant shift toward instant, onchain redemption for real-world assets, moving away from manual back-office processes. The platform currently reports over $20 million in live liquidity, providing a critical alternative to existing redemption systems. This integration complements Centrifuge’s Symbiotic Liquid Lane, which previously established T+0 liquidity for these assets. By referencing net asset value rather than secondary market dynamics, the protocol ensures users receive fair value for their holdings. The expansion highlights the growing maturity of the RWA market, where institutional-grade fixed-income products are increasingly integrated into decentralized finance liquidity rails.

#Centrifuge #RWA #JAAA

cryptobriefing.com·Sep 29, 20268.0

U.S. Treasuries

Goldman Sachs $100bn Treasury Fund Adds Tokenized Settlement

tZERO has integrated the Goldman Sachs Financial Square Treasury Instruments Fund (FTIXX) into the Lynq Network to facilitate real-time settlement for qualified U.S. participants. This development leverages tZERO’s regulated broker-dealer capabilities to bridge traditional institutional investment products with modern blockchain-based settlement infrastructure. The Lynq Network, which utilizes an Avalanche-based technology layer, serves as the connective tissue for this integration, enabling more efficient treasury and cash management. By bringing a significant conventional Goldman Sachs cash product onto a tokenized platform, the partnership highlights the growing convergence between traditional finance and digital asset rails. This move is part of a broader strategy by tZERO to provide end-to-end tokenized securities infrastructure for institutional clients. The integration underscores the industry's shift toward utilizing distributed ledger technology to enhance the operational efficiency of established financial instruments. Ultimately, this milestone demonstrates how regulated entities are increasingly adopting tokenized settlement to meet the evolving demands of modern capital markets.

#GoldmanSachs #Avalanche #tZERO

marketsmedia.com·Sep 29, 20268.0

U.S. Treasuries

What Is Real-World Asset Tokenization? How Stocks, Bonds and Funds Move Onchain

The RWA sector is experiencing rapid institutional expansion, highlighted by OpenEden launching order book trading for its $TBILL fund on EX.IO with management by BNY Investments. Bitfinex Securities is leveraging Kazakhstan's AIFC regulatory framework to advance tokenized capital markets, while South Korean institutions including Securitize, KB Securities, and the Optimism Foundation have formed an MOU to structure tokenized securities. Market data reveals significant activity, with RWA perpetual futures trading volume hitting $117.3 billion in August 2026, dominated by decentralized platforms at 86% of total volume. Consolidation is also reshaping the landscape, as MoonPay moves to acquire North Capital, a private markets platform managing $9 billion in transaction volume. Regulatory engagement remains high, evidenced by CFTC Chairman Michael Selig addressing the integration of tokenized assets at a Federal Reserve-hosted Treasury Market Conference. These developments collectively signal a shift toward mature, regulated, and high-volume tokenized financial infrastructure. This trend underscores the transition of RWA tokenization from experimental pilots to integrated components of global capital markets.

#RWA #Tokenization #Securitize

crypto-economy.com·Sep 29, 20268.0

U.S. Treasuries

Crypto-friendly institution Franklin Templeton brings its tokenized collateral service to Bybit

Franklin Templeton has expanded its off-exchange collateral program to the Bybit exchange, enabling users to utilize shares of its tokenized money market fund as collateral for crypto trading. This integration allows investors to borrow stablecoins like USDT and USDC while continuing to earn yield on their underlying assets, which currently represent approximately $686 million in net assets. The mechanism relies on ByCustody to hold the assets off-exchange, while the value is mirrored within the Bybit trading environment to unlock liquidity without requiring asset movement. This development marks another milestone in Franklin Templeton's strategy to integrate its Benji-issued tokenized funds across major crypto exchanges, following similar partnerships with Binance and OKX. By allowing investors to optimize collateral usage while maintaining yield exposure, the firm aims to bridge traditional asset management with the crypto ecosystem. This trend reflects a broader industry shift toward using regulated, tokenized money market funds as high-quality collateral for derivatives and spot trading. The initiative highlights the growing utility of blockchain-integrated record-keeping platforms in professionalizing crypto market infrastructure.

#FranklinTempleton #BENJI #TokenizedFunds

CoinDesk·Sep 28, 20268.0

U.S. Treasuries

Tokenized funds rise to $11.39 for every $100 in stablecoins, nearly quadrupling in two years

The ratio of tokenized fund value relative to stablecoins has surged from $2.99 to $11.39 per $100 over the past two years, reflecting a significant shift in on-chain capital allocation. While the $300 billion stablecoin market remains dominated by USDT and USDC, investors are increasingly seeking yield through tokenized Treasury and money market products. Major issuers like Circle, BlackRock, and Ondo have captured billions in assets, with total tokenized fund value estimated between $15 billion and $33 billion. This growth is driven by the desire to earn returns on idle capital, a feature traditional stablecoins lack. Regulatory developments, specifically the anticipated GENIUS Act, may further accelerate this trend by restricting yield on payment stablecoins while favoring tokenized funds as reserves. Despite this momentum, liquidity remains constrained by KYC requirements and redemption windows, limiting the immediate interoperability of these assets. Institutional interest from firms like JPMorgan and BlackRock underscores a long-term strategy to standardize on-chain settlement for traditional financial products.

#Stablecoins #Ondo #BUIDL

cryptobriefing.com·Sep 28, 20268.0

U.S. Treasuries

XRP Pauses Below $1.60 as Ledger Upgrade Slips and Tokenized Treasury Rails Open

XRP experienced a minor price consolidation after failing to sustain momentum above the $1.60 level, despite broader market gains for Bitcoin and Ether. On the technical front, the XRP Ledger encountered a delay in the BatchV1_1 amendment, which is now expected to activate around October 9. This upgrade is critical for institutional adoption as it enables atomic transaction bundling, facilitating complex delivery-versus-payment settlements. Simultaneously, the ecosystem saw a significant advancement in RWA utility as holders of BlackRock’s BUIDL and VanEck’s VBILL funds gained the ability to redeem positions directly into Ripple’s RLUSD stablecoin. This integration allows institutional investors to maintain yields on-chain and deploy capital into decentralized finance protocols 24/7. With RLUSD circulating supply nearing $2.5 billion, the XRP Ledger is increasingly positioning itself as a primary infrastructure layer for tokenized assets. These developments underscore a strategic shift toward institutional-grade settlement capabilities, even as the native token navigates short-term market volatility. The ongoing expansion of payout access across 60 global markets further supports Ripple's long-term objective of competing with traditional cross-border payment networks like SWIFT.

#XRP #RWA #BUIDL

ad-hoc-news.de·Sep 27, 20267.5

U.S. Treasuries

Ondo Finance Yield Explained: How to Earn Low-Risk Returns on USDY

Ondo Finance's USDY is a yield-bearing token backed by short-term U.S. Treasuries and bank demand deposits, designed to provide on-chain returns to non-U.S. investors. Unlike traditional stablecoins that retain interest for the issuer, USDY passes yield directly to holders through either an accumulating price mechanism or a rebasing token model. As of early April 2026, the asset generates approximately 3.4% APY and has reached over $1.64 billion in total value locked. The token is supported by a 4% overcollateralization buffer and operates through a bankruptcy-remote special purpose vehicle to ensure asset security. By expanding across eight blockchains including Ethereum, Solana, and Sui, Ondo Finance has established USDY as a highly composable instrument for cross-chain DeFi strategies. This structure allows investors to access regulated, dollar-denominated returns without the need for traditional brokerage accounts. The evolution of such instruments marks a significant shift in the RWA market, transforming idle stablecoin liquidity into productive, yield-generating assets.

#Ondo Finance #RWA #USDY

mexc.com·Sep 25, 20267.5

U.S. Treasuries

Sky (SKY) Gains 7% Amid RWA Tokenization and Altcoin Rally

The Sky (SKY) ecosystem is gaining market attention following its integration into the 'Tokenization Grand Prix,' a program aiming to attract 1 billion dollars in tokenized financial assets. This initiative specifically highlights the potential onboarding of Ondo Finance’s OUSG token, which provides on-chain access to U.S. Treasuries backed by a BlackRock liquidity facility. The news coincides with a broader sector rally led by Ondo, which recently placed three BlackRock-designed portfolios on-chain, signaling a shift in investor interest toward RWA-focused protocols. Sky’s price responded to this narrative, climbing toward 0.076 dollars as traders bracketed the asset alongside other institutional-grade RWA plays. While speculative trading activity and influencer sentiment amplified the price movement, the core driver remains the perceived deepening of Sky’s institutional utility. By positioning itself as a hub for RWA yield, Sky is attempting to transition from a generic DeFi token to a critical infrastructure layer for tokenized assets. This development underscores the growing importance of BlackRock-linked products in driving liquidity and market confidence across decentralized finance ecosystems.

#Ondo Finance #RWA #BlackRock

coinmarketcap.com·Sep 25, 20267.5

U.S. Treasuries

Citadel Securities Joins DTCC Tokenization Test Using Fireblocks

Citadel Securities successfully completed a live test of the DTCC's upcoming Tokenization Service, utilizing Fireblocks' infrastructure to tokenize U.S. Treasury securities on the Canton Network. The trial involved transferring these tokenized assets to major counterparties including BNP Paribas and Société Générale, while demonstrating their utility as collateral on the CME. This milestone serves as a critical validation step for the DTCC's broader initiative, which is scheduled for a full launch in October 2026. By representing traditional securities on a distributed ledger, the project aims to enhance capital efficiency, reduce operational costs, and enable real-time collateral mobility. The initiative has already engaged over 50 financial firms, signaling strong institutional interest in blockchain-based market infrastructure. Fireblocks provided the necessary secure environment, including validator node access and governance tools, to ensure compliance with institutional risk policies. This development represents a significant move toward bridging traditional financial markets with blockchain technology while maintaining established investor protections.

#CantonNetwork #DTCC #U.S.Treasuries

blockchain.news·Sep 24, 20269.5

U.S. Treasuries

Someone was trying to sell Ondo Finance after founder Nathan Allman's death

Ondo Finance, a prominent tokenization platform managing over $3.8 billion in tokenized U.S. Treasuries and stocks, was reportedly offered for sale following the unexpected death of its 32-year-old founder and CEO, Nathan Allman, on May 25. This outreach to prospective buyers occurred amidst a bitter corporate control dispute, as Allman's estate, awarded to his parents, filed suit against acting CEO Ian De Bode in early August, alleging an unlawful power and money grab. While an Ondo spokesperson vehemently denied any sale discussions, calling them "wholly untrue," the escalating legal battle has likely paused any potential acquisition plans. This internal turmoil at one of the largest real-world asset platforms, known for its OUSG fund investing in BlackRock's tokenized BUIDL fund, highlights the governance and succession challenges that can arise in rapidly growing RWA firms. The situation underscores the importance of robust corporate structures and succession planning as the tokenized finance sector attracts significant capital and institutional interest, with crypto M&A reaching $12.9 billion in Q2.

#Ondo Finance #BUIDL #BlackRock

CoinDesk·Sep 24, 20267.5

U.S. Treasuries

DTC Launches Tokenization Initiative with Fireblocks

DTC is launching a new tokenization initiative in October, leveraging Fireblocks technology to enhance onchain transfer capabilities for tokenized U.S. Treasuries. This collaboration aims to streamline treasury management and collateral handling processes for major financial institutions, including Citigroup. By facilitating secure onchain transfers, the initiative seeks to improve market efficiency and liquidity within the clearing and settlement ecosystem. As a significant player in the financial services sector, DTC's move underscores the increasing institutional adoption of blockchain-based solutions for traditional asset management. The project is expected to reshape how counterparties manage collateral, potentially setting a new standard for operational efficiency in the industry. Stakeholders are closely monitoring the October launch to assess its impact on market dynamics and the broader integration of tokenized assets into existing financial systems. This development highlights the growing trend of major market infrastructure providers embracing digital asset technology to modernize legacy settlement workflows.

#Tokenization #DTCC #U.S.Treasuries

coinfomania.com·Sep 24, 20268.5

U.S. Treasuries

Ondo, Securitize and BlackRock pitch OUSG for Sky’s $1 billion tokenization initiative

Ondo Finance has partnered with BlackRock and Securitize to submit its OUSG tokenized Treasury fund to the Sky Ecosystem’s Spark Tokenization Grand Prix. This initiative aims to onboard $1 billion in tokenized financial assets into the Sky (formerly MakerDAO) ecosystem to diversify its real-world asset holdings. OUSG currently holds over $600 million in total value locked and offers features such as instant redemptions of up to $25 million daily, with plans to double this capacity by year-end. The proposal highlights potential interoperability between OUSG and BlackRock’s BUIDL fund, allowing Sky to rebalance its portfolio between the two assets. By integrating OUSG, Sky gains access to onchain liquidity and exposure to U.S. Treasury yields across both Ethereum and Solana networks. This collaboration underscores a growing trend of institutional-grade RWA products competing for integration into major decentralized finance protocols. The inclusion of a liquidity facility supported by Circle and other partners further strengthens the proposal's appeal for large-scale capital deployment.

#Ondo Finance #BUIDL #BlackRock

cryptobriefing.com·Sep 24, 20268.0

U.S. Treasuries News

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