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U.S. Treasuries

Tokenised Money Market Funds: 2026 Control Model

Tokenized money market funds (MMFs) are evolving from simple digital wrappers into functional settlement and collateral instruments, necessitating a unified approach to fund registers, token records, and cash legs. The BIS and New York Fed have identified these assets as critical for secondary-market liquidity and repo collateral, moving beyond theoretical pilots in regions like Hong Kong. For institutional adoption, managers must ensure that tokenized shares solve specific operational constraints, such as mobilization after local cut-off times or reducing reconciliation delays. A successful implementation requires strict synchronization between the ledger and traditional fund accounting to avoid creating uncontrolled operating models. Boards must clarify which record is legally authoritative to manage subscription, redemption, and corporate action events effectively. Furthermore, robust control frameworks—including verified identity-linked allow-lists and secure recovery processes—are essential to mitigate risks associated with public ledgers. Ultimately, the industry must prioritize measurable improvements in liquidity and collateral utility over mere tokenization for the sake of innovation.

#InstitutionalFinance #BIS #Settlement

globalbankingandfinance.com·Aug 17, 20267.5

U.S. Treasuries

Franklin Templeton receives SEC approval for onchain fund

The U.S. Securities and Exchange Commission has issued a no-action letter allowing Franklin Templeton to allocate capital directly into its own tokenized Franklin OnChain US Government Money Fund. This regulatory milestone enables the firm to utilize its subsidiary, Franklin Templeton Investor Services, as the primary custodian for private keys, bypassing traditional physical custody requirements. The fund, which maintains a stable $1 per share value, is backed by U.S. government securities and cash. To ensure compliance, the SEC mandated 12 strict conditions, including robust administrative controls for freezing or restoring on-chain records during contingencies. This decision validates distributed ledger technology as a viable infrastructure for institutional capital management and reduces reliance on multiple intermediaries. By automating reconciliation and settlement, the move highlights the growing maturity of blockchain-based financial products. As the fifth-largest manager of tokenized assets globally, Franklin Templeton’s integration of digital assets signals a broader shift toward operational efficiency in traditional finance. This precedent sets a significant benchmark for how institutional liquidity can interact with on-chain environments under U.S. regulatory oversight.

#Tokenization #InstitutionalAdoption #FranklinTempleton

news.bit2me.com·Aug 17, 20269.5

U.S. Treasuries

Tokenized Treasuries Surge on Solana, Driven by J.P.

Solana has experienced a significant surge in tokenized U.S. Treasury activity, recording a weekly increase of $29.2 million in assets. This growth is largely attributed to institutional interest, with J.P. Morgan contributing $17.2 million to the ecosystem. The expansion highlights Solana's increasing utility as a high-throughput blockchain for real-world asset (RWA) integration. While Ethereum remains the dominant leader in the sector with a $44.7 billion market cap, the rapid adoption on Solana signals a shift in institutional preference for faster, lower-cost infrastructure. Furthermore, the broader RWA market is seeing dynamic growth, evidenced by a $76.9 million single-day increase in tokenized assets on the zkSync Era network. These developments collectively underscore the accelerating convergence between traditional finance and decentralized ledger technology. As major financial institutions continue to explore tokenization, the competitive landscape among blockchains is intensifying to capture institutional capital flows.

#Ethereum #Solana #RWA

coinfomania.com·Aug 17, 20267.5

U.S. Treasuries

Franklin Templeton Links Benji Platform to Canton Network

Franklin Templeton has integrated its proprietary Benji platform with the Canton Network, a blockchain infrastructure specifically engineered for regulated financial institutions. This strategic move allows Benji’s tokenized assets, most notably its on-chain U.S. government money market fund, to function as collateral and liquidity within the Canton Global Collateral Network. By connecting to this ecosystem, Franklin Templeton enables institutional participants like HSBC and BNP Paribas to mobilize tokenized assets for more efficient settlement and collateral management. The integration highlights a broader industry trend where major asset managers leverage blockchain as a backend infrastructure to bridge traditional finance with digital markets. With the tokenized U.S. Treasury market reaching approximately $8.4 billion, this development underscores the increasing institutional demand for programmable, on-chain investment products. The expansion follows a $135 million funding round for Digital Asset, the developer behind Canton, signaling robust capital commitment to institutional blockchain infrastructure. This partnership serves as a critical milestone in the maturation of the RWA sector, demonstrating how proprietary platforms can interoperate within regulated, multi-institutional networks.

#RWA #Tokenization #CantonNetwork

coinmarketcap.com·Aug 16, 20268.5

U.S. Treasuries

Solana leads growth in tokenized US T-bills with $378M increase

The tokenized U.S. Treasury market has experienced explosive growth, surging from under $1 billion in early 2024 to over $16.23 billion by mid-August. Solana has emerged as a significant challenger to Ethereum's dominance, recording the largest 30-day increase in tokenized Treasury activity with $378 million in net inflows. While Ethereum maintains a 43% market share and BNB Chain holds 31.5%, Solana has successfully attracted institutional-grade products including BlackRock’s BUIDL, Ondo Finance’s USDY, and Galaxy Digital’s SWEEP. These assets utilize smart contracts to enforce transfer restrictions and accredited-investor requirements, ensuring compliance with existing regulatory frameworks. The broader RWA ecosystem, encompassing private credit and real estate, is now estimated to be worth between $30 billion and $38 billion. This rapid expansion across 18 different blockchain networks highlights a shift toward multi-chain institutional adoption of tokenized government debt. The trend underscores the increasing viability of blockchain infrastructure for managing traditional financial instruments at scale.

#Ethereum #Solana #Ondo Finance

cryptobriefing.com·Aug 15, 20268.0

U.S. Treasuries

Superstate - Tokenization Solved Issuance. Vaults Are Solving Distribution.

Superstate has transitioned its operational focus from pure tokenization to solving the distribution challenges inherent in the RWA market through its new vault infrastructure. By leveraging the Ethereum blockchain, the firm aims to bridge the gap between traditional financial assets and decentralized finance protocols. The company emphasizes that while initial tokenization efforts successfully brought assets on-chain, the lack of efficient distribution channels has hindered widespread adoption. Superstate's vault architecture is designed to act as a programmable layer that facilitates seamless interaction between tokenized assets and various DeFi applications. This shift reflects a broader industry trend where infrastructure providers are moving beyond simple issuance to focus on liquidity and interoperability. By standardizing how these assets are accessed, Superstate intends to lower the barrier to entry for institutional and retail participants alike. This strategic pivot highlights the maturation of the RWA sector as it moves from experimental issuance toward scalable, utility-driven financial products.

#Ethereum #RWA #Tokenization

t.co·Aug 15, 20267.5

U.S. Treasuries

Ondo Finance Posts Rapid Growth as Tokenized Equities and Treasuries Pass Key Volume Milestones

Ondo Finance has achieved significant growth in the tokenized real-world asset sector, driven by the strong performance of its flagship products, USDY and OUSG. The protocol has successfully bridged traditional financial instruments with blockchain technology, allowing investors to access U.S. Treasury-backed assets on-chain. By leveraging the Ethereum and Polygon networks, Ondo has facilitated increased liquidity and accessibility for institutional and retail participants alike. The platform's expansion reflects a broader market trend where tokenized government debt serves as a primary entry point for decentralized finance users seeking yield. As volume milestones are surpassed, Ondo solidifies its position as a key infrastructure provider in the RWA ecosystem. This growth underscores the increasing demand for transparent, programmable financial products that mirror traditional market stability. Ultimately, the protocol's ability to maintain regulatory compliance while scaling its asset base highlights the maturing state of institutional-grade tokenization.

#Ethereum #Ondo Finance #RWA

tipranks.com·Aug 14, 20267.5

U.S. Treasuries

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

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

#FranklinTempleton #JPMorgan #TokenizedFunds

ledgerinsights.com·Aug 14, 20268.0

U.S. Treasuries

From DeFi To TradFi : Where Is On-Chain Capital Moving?

The supply of tokenized U.S. Treasuries has surged to $15.3 billion, driven by prominent assets such as USYC, BUIDL, and USDY. This growth reflects a strategic shift where investors prioritize on-chain liquidity and stable yields from government debt over idle stablecoin holdings. While traditional DeFi total value locked has declined by approximately 54% from recent peaks, the RWA market capitalization has expanded by over 550% since 2025. This divergence is largely attributed to falling crypto-native yields and the declining price of major assets like ETH, which has pushed capital toward lower-risk, yield-bearing alternatives. Tokenized Treasuries are increasingly functioning as a foundational collateral and liquidity layer for the broader on-chain ecosystem. As these instruments integrate deeper into lending and liquidity markets, they force DeFi protocols to compete directly with traditional financial yields. This transition marks a significant evolution in how on-chain capital is allocated, positioning tokenized assets as a primary driver of current market activity.

#RWA #BUIDL #Tokenization

cryptorank.io·Aug 14, 20267.5

U.S. Treasuries

Tokenized Fund Competition: It's Not Just About Scale

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

#Stablecoins #RWA #JPMorgan

panewslab.com·Aug 14, 20269.5

U.S. Treasuries

Shinhan Asset, Plume to Test Won-Denominated Tokenized Fund

Shinhan Asset Management has entered a memorandum of understanding with Plume Network to conduct a proof-of-concept project for a won-denominated tokenized fund. The initiative aims to assess the feasibility of tokenizing ultra-short bond funds for offshore markets, effectively benchmarking the operational model established by BlackRock’s BUIDL fund. By leveraging Plume Network’s infrastructure, the partners intend to evaluate technical and regulatory requirements, including whitelist-based transfer restrictions and mandatory KYC/AML controls. This project specifically seeks to explore how won-based assets can be integrated into global on-chain settlement systems to attract overseas capital into South Korea. While the current scope is limited to testing and does not guarantee future issuance, the structure is designed to contractually and technically restrict purchases by South Korean residents. This development is significant as it signals a shift toward diversifying RWA tokenization beyond dollar-denominated assets. It highlights the growing institutional interest in creating compliant, cross-border frameworks for non-USD sovereign currencies within the digital asset ecosystem.

#RWA #TokenizedFunds #PlumeNetwork

en.bloomingbit.io·Aug 14, 20267.5

U.S. Treasuries

SEC Crypto Task Force Meets WisdomTree on Tokenized Fund Rules

On August 12, 2026, representatives from WisdomTree, Inc. and Thorn Run Partners met with the SEC’s Crypto Task Force to discuss the evolving regulatory landscape for tokenized funds. The dialogue focused on three primary areas: the current state of the tokenized fund marketplace, technical requirements for wallet onboarding, and the development of formal commission rulemaking for tokenized assets. This engagement precedes a critical SEC open meeting scheduled for August 14, where the Commission will consider a tailored offering regime for investment contracts involving crypto assets. Simultaneously, the CFTC is preparing for its inaugural Innovation Advisory Committee meeting to address regulatory clarity and market structure for digital assets. WisdomTree, which previously secured SEC exemptive relief for its Treasury Money Market Digital Fund in February 2026, continues to play a leading role in shaping these standards. These discussions are significant as they signal a shift toward establishing a comprehensive federal framework for tokenized financial products. The collaboration between industry participants and regulators highlights the ongoing effort to reconcile traditional investment structures with blockchain-based infrastructure. Ultimately, these meetings represent a pivotal step toward institutionalizing tokenized assets within the U.S. financial system.

#SEC #TokenizedFunds #DigitalAssets

cryptotimes.io·Aug 13, 20268.5

U.S. Treasuries

Franklin Templeton Secures SEC Approval for BENJI Tokenized Fund Investments

The U.S. Securities and Exchange Commission has granted regulatory approval allowing Franklin Templeton’s registered mutual funds and ETFs to hold the BENJI tokenized money market fund directly. This decision resolves long-standing custody challenges related to Section 17(f) and Rule 17f-2 of the Investment Company Act, which previously required physical certificate safeguards incompatible with blockchain-based assets. By utilizing the Stellar blockchain alongside traditional transfer-agent oversight, Franklin Templeton can now integrate tokenized government debt instruments into its broader investment portfolios. This development marks a significant shift in how institutional investment vehicles manage digital assets, moving away from legacy physical custody requirements toward electronic, blockchain-enabled record-keeping. The SEC’s no-action correspondence validates the firm's hybrid architecture, which combines on-chain transaction data with authoritative off-chain shareholder documentation. This approval enables more efficient cash management and capital allocation strategies across Franklin’s registered investment products. Ultimately, this milestone reinforces the institutional viability of tokenized funds by aligning modern blockchain infrastructure with established regulatory frameworks.

#Stellar #FranklinTempleton #SEC

Blockonomi·Aug 13, 20269.0

U.S. Treasuries

Africa Finance Corporation Issues CHF 350 Million Tokenised Bond On Swiss Digital Exchange

The Africa Finance Corporation (AFC) has successfully issued a CHF 350 million digital bond, marking the first time an African institution has utilized the SIX Digital Exchange (SDX) for such a transaction. This five-year bond, which is also listed on the traditional SIX Swiss Exchange, represents the largest digital bond ever issued in the Swiss franc market. The issuance was structured as a tokenized security using distributed ledger technology, with settlement managed through the regulated infrastructure of SIX SIS AG. Commerzbank AG and Deutsche Bank AG acted as the lead arrangers for the deal, which saw strong demand from Swiss domestic investors. By leveraging SDX’s interoperability with traditional custodial systems, the AFC was able to attract institutional participation without requiring investors to overhaul their existing infrastructure. This milestone highlights the growing trend of supranational and development finance institutions adopting DLT to diversify funding sources and improve capital market efficiency. The success of this issuance underscores the increasing maturity of regulated digital bond markets and the potential for tokenization to bridge the gap between traditional finance and blockchain-based settlement.

#Tokenization #DigitalBonds #DLT

smbtech.au·Aug 13, 20268.5

U.S. Treasuries

Mitsubishi UFJ Financial to Launch Govt Bond Repo PoC via Canton Network

Mitsubishi UFJ Financial Group (MUFG) units, including Mitsubishi UFJ Trust and Banking, are initiating a proof-of-concept (PoC) to explore the tokenization of Japanese government bond repo transactions. The project utilizes the Canton Network, a privacy-enabled, interoperable blockchain infrastructure designed for institutional financial markets. By leveraging distributed ledger technology, the initiative aims to streamline the settlement process for repurchase agreements, which currently involve complex manual reconciliation. This PoC represents a significant step for major Japanese financial institutions in adopting blockchain for traditional capital market operations. The integration of the Canton Network allows for secure, cross-institutional data sharing while maintaining strict regulatory compliance and privacy standards. Successful implementation could lead to increased liquidity and reduced operational costs within the Japanese bond market. This development underscores the growing institutional appetite for blockchain-based infrastructure to modernize legacy financial systems.

#Tokenization #CantonNetwork #RepoMarket

marketscreener.com·Aug 13, 20267.5

U.S. Treasuries

S&P gives BlackRock tokenised reserve fund top stability rating

S&P Global Ratings has assigned its highest stability rating, 'AAAm', to BlackRock's USD Institutional Digital Liquidity Fund (BUIDL). This marks a significant milestone for the RWA sector as it represents the first time a major credit rating agency has evaluated a tokenized fund on a public blockchain. The fund, which operates on the Ethereum network, invests primarily in cash, U.S. Treasury bills, and repurchase agreements. By achieving this top-tier rating, BUIDL demonstrates that tokenized assets can meet the same rigorous risk management and liquidity standards as traditional money market funds. This validation is expected to increase institutional confidence in blockchain-based financial products. The rating reflects the fund's extremely strong capacity to maintain a stable net asset value of $1 per share. Such institutional-grade assessments are critical for bridging the gap between decentralized finance and traditional capital markets.

#Ethereum #BUIDL #Tokenization

digitaltoday.co.kr·Aug 13, 20269.0

U.S. Treasuries

NH Investment Securities to build tokenised securities platform with Koscom, consider bond tokenisation

NH Investment Securities has partnered with Koscom to develop a specialized platform for tokenized securities, marking a significant step in South Korea's digital asset infrastructure. The collaboration aims to leverage Koscom's technical expertise to establish a robust framework for issuing and trading tokenized assets. While the initial focus is on building the underlying platform, the firms are actively evaluating the tokenization of bonds to diversify their digital product offerings. This initiative aligns with the broader South Korean regulatory push to integrate blockchain technology into traditional financial markets. By creating a dedicated infrastructure, NH Investment Securities seeks to enhance liquidity and operational efficiency for institutional and retail investors alike. The move reflects a growing trend among major Korean financial institutions to adopt distributed ledger technology for capital market modernization. This development is critical for the RWA market as it demonstrates institutional commitment to scaling tokenized debt instruments within a regulated environment.

#TokenizedSecurities #Bonds #SouthKorea

digitaltoday.co.kr·Aug 13, 20267.5

U.S. Treasuries

Best Blockchains for RWA Tokenization: Ethereum vs Rivals

The tokenized real-world asset (RWA) market on public blockchains reached $38.17 billion by August 9, 2026, marking a 540% growth since early 2025. Ethereum remains the dominant network, holding approximately 53% of total RWA value due to its deep DeFi liquidity and institutional credibility. Major products like BlackRock’s BUIDL fund, which held $2.68 billion as of August 2026, have expanded across multiple chains including Avalanche, Solana, and various Layer 2 solutions to optimize for cost and speed. Avalanche has specifically emerged as a key institutional hub, recently seeing a $436 million weekly inflow into the BUIDL fund. The market is increasingly characterized by a multi-chain strategy where issuers leverage Ethereum for settlement security while utilizing alternative networks for high-frequency or cost-sensitive operations. Regulatory frameworks like the U.S. GENIUS Act, EU’s MiCA, and Hong Kong’s Stablecoins Ordinance are providing the necessary clarity to support this institutional adoption. This shift toward specialized infrastructure, supported by interoperability protocols like Chainlink CCIP, is essential for the market to scale toward projected multi-trillion dollar valuations.

#Ethereum #RWA #Tokenization

financefeeds.com·Aug 13, 20268.0

U.S. Treasuries News

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