#Stablecoins
223 articles tagged #Stablecoins — curated RWA tokenization coverage.
Crypto Biz: Crypto’s biggest business is starting to look a lot like banking
The digital asset industry is increasingly converging with traditional finance as stablecoin reserves, tokenized money market funds, and onchain collateral become primary revenue drivers. BlackRock has expanded its blockchain-based financial infrastructure by launching two new tokenized money market products designed to assist stablecoin issuers in meeting reserve requirements under the US GENIUS Act. One of these products tokenizes shares of an existing Treasury liquidity strategy on Ethereum, while the second supports multiple blockchains to facilitate automated income reinvestment. Simultaneously, Tether reported a $1.5 billion net operating profit in the second quarter, largely fueled by interest earned on its massive holdings of US Treasury securities. While tokenized gold has shown resilience during market volatility, RedStone research indicates that its adoption as collateral in decentralized finance protocols like Aave remains limited, with only 1.5% of its $4.2 billion market cap utilized onchain. These developments highlight a broader shift where Wall Street institutions are prioritizing onchain financial infrastructure to manage balance sheets and regulatory compliance. This trend underscores the growing importance of blockchain as a settlement and management layer for institutional-grade assets. Ultimately, the integration of these traditional financial instruments into the crypto ecosystem signals a maturation phase for the industry.
Stripe owned Bridge joins EU MiCA register as 42nd authorized stablecoin issuer
Bridge, a stablecoin infrastructure company recently acquired by Stripe for approximately $1.1 billion, has been officially added to the European Union’s MiCA register as an authorized electronic money token (EMT) issuer. This milestone follows Bridge securing both a crypto-asset service provider authorization and an Electronic Money Institution license from Luxembourg’s financial regulator, the CSSF. By joining the register, Bridge becomes the 42nd authorized EMT issuer in the EU, enabling it to provide regulated stablecoin and payment services across all 27 member states under a single framework. This development is significant for the RWA market as it facilitates the issuance of custom euro-backed stablecoins and cross-border settlement for enterprises. The move aligns with the broader implementation of the Markets in Crypto-Assets regulation, which mandates that regulated platforms support only compliant stablecoins. Stripe is actively integrating Bridge’s technology to expand its global payments network and stablecoin-backed card programs. This regulatory approval strengthens Stripe's position in the institutional stablecoin infrastructure space, providing a compliant pathway for businesses to move funds without relying on traditional correspondent banking networks.
Circle Calls for MiCA Changes to Widen Stablecoin Access
Circle is advocating for a formal review of the European Union's Markets in Crypto-Assets (MiCA) regulation to address the limited availability of global stablecoins within the bloc. While MiCA has successfully attracted 35 approved e-money tokens from 21 issuers, only a small fraction of the top 50 global stablecoins, including Circle's USDC and EURC, currently meet the stringent compliance requirements. Patrick Hansen, Circle’s senior director of EU strategy, argues that the current framework forces EU exchanges to delist major non-compliant tokens, thereby restricting user access and market liquidity. Circle proposes a recognition system that would allow stablecoins regulated in trusted non-EU jurisdictions to operate within Europe if they provide comparable safeguards. This shift is intended to prevent European users from being pushed toward unregulated products while fostering a more competitive environment for EU-authorized issuers globally. European authorities, including the European Central Bank, remain cautious, citing concerns over potential risks to reserve pools from multi-jurisdictional issuance models. As the RWA market matures, this debate highlights the tension between maintaining strict consumer protections and ensuring the interoperability of global digital assets. The outcome of this review will significantly influence how institutional capital interacts with tokenized liquidity in the European market.
BlackRock launches tokenised money market funds for stablecoin reserve assets
BlackRock has expanded its tokenized asset portfolio by launching two new money market funds, BSTBL and BRSRV, specifically designed to serve as reserve assets for U.S. stablecoin issuers. These products are structured to comply with the U.S. federal stablecoin law, known as the GENIUS Act, which was enacted in July 2025. BSTBL functions as a tokenized share class of the existing Select Treasury Based Liquidity Fund and operates on the Ethereum blockchain, allowing for peer-to-peer transfers between approved wallets. BRSRV is a newly established fund for institutional investors that supports multi-chain functionality and features automated daily dividend reinvestment. This strategic move follows the success of BlackRock's BUIDL fund, which currently manages over $2.6 billion in assets and remains the largest tokenized Treasury fund in the market. By providing compliant reserve solutions, BlackRock is positioning itself to capture the growing demand for institutional-grade collateral in the stablecoin sector. This development underscores the increasing integration of traditional financial instruments with blockchain infrastructure to meet evolving regulatory standards.
Tether’s Hadron Partners With First Data and BKN301 for Saudi Arabia Tokenization
Tether reported a net operating profit of approximately $1.50 billion for the second quarter of 2026, primarily driven by its holdings in U.S. Treasuries and repo agreements. The company's total assets reached a valuation of $187.75 billion, reflecting significant growth in its reserve base. Additionally, Tether Gold (XAUT) saw a 9.5% increase in total holdings during the same period, even as the market price of gold experienced a 14.1% decline. On-chain data from Whale Alert tracked a substantial transfer of 500 million USDT from Binance’s hot wallet to the Tether treasury. Meanwhile, trading volume for the KRW-USDT pair on the Upbit exchange surged to nearly 140 million USDT on July 29, representing a significant increase from previous levels. These developments highlight the continued expansion of Tether's reserve management and the growing liquidity of its stablecoin products in regional markets. The financial performance underscores the role of traditional debt instruments in supporting the stability and scale of the Tether ecosystem.
Circle CEO: Crypto Market Shifting From Speculation to Tokenized Asset Trading
Circle CEO Jeremy Allaire reports a fundamental market shift as the cryptocurrency ecosystem transitions from pure speculation toward the trading of tokenized real-world assets. During the company's second-quarter earnings call, Circle disclosed $701 million in revenue and $143 million in adjusted EBITDA, highlighting its financial capacity to support on-chain infrastructure for equities and commodities. This evolution is bolstered by increasing institutional participation from firms like BlackRock and Fidelity, alongside data from a 2025 Bank for International Settlements report indicating that over 90% of central banks are actively researching tokenized assets. By leveraging USDC as a bridge between traditional finance and blockchain, Circle aims to modernize legacy settlement systems and improve market liquidity. Despite this momentum, the lack of finalized SEC regulations for tokenized securities in the United States remains a significant barrier to widespread adoption. The transition signifies a move toward a more mature financial ecosystem where interoperable platforms facilitate 24/7 trading and fractional ownership. Ultimately, Circle is positioning its technology stack to serve as the foundational layer for this global shift in asset management and transaction settlement.
XRP ETFs log 4-day inflow streak as RWA holders grow 25%
The XRP Ledger (XRPL) is experiencing a notable shift in capital dynamics, where real-world asset (RWA) tokenization is emerging as a more significant driver of network activity than traditional ETF inflows. While XRP ETFs recorded a four-day positive inflow streak totaling over $15 million, this figure remains modest compared to the broader ecosystem performance. Over the past 90 days, the XRP Ledger recorded net flows exceeding $1.20 billion, significantly bolstered by its RWA sector. Currently, the total value of tokenized assets on the XRPL has reached $4.959 billion, representing a 2% growth and accounting for approximately 1.25% of the global $398 billion RWA market. Furthermore, the number of RWA holders on the ledger increased by over 25% in the last month, reaching 199 participants. Stablecoin adoption also saw growth, with holder counts rising to 60.24K. This data suggests that institutional interest is increasingly focused on the utility of the ledger for asset tokenization rather than solely relying on ETF-based exposure. Consequently, the dual momentum from both ETF products and RWA infrastructure is creating sustained demand for the native XRP token.
Why Tokenized Finance is Stalling Despite Regulatory Progress
A report by Hashed Open Research and SCBX reveals that tokenized finance in Southeast Asia is stalling despite significant regulatory and infrastructure progress. While on-chain transaction volume in the Asia-Pacific region surged 68% to $2.36 trillion, institutional adoption remains constrained by unfavorable business models. Banks currently face limited revenue potential from tokenized assets, which often cannibalize existing fee-based services. A critical barrier is the Basel Committee's 1,250% capital charge on certain tokenized assets, which makes holding them prohibitively expensive for financial institutions. Countries like Singapore, Thailand, and Malaysia are actively pursuing local-currency stablecoins and tokenized deposits, yet smaller regional banks lack the capacity to absorb these high capital costs. Meanwhile, the Philippines is exploring stablecoins to optimize $35 billion in annual remittances, and Malaysia’s Khazanah Nasional is developing tokenized sukuk. The report concludes that the future of regional tokenization depends on shifting the economic incentive equation rather than further regulatory reform. Until banks identify profitable use cases that outweigh current capital requirements, growth will likely remain steady but slow.
S&P gives BlackRock tokenized reserve fund top stability rating
S&P Global Ratings has assigned its highest principal stability fund rating, 'AAAm', to the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). This tokenized money market fund is designed to hold cash, short-term U.S. Treasury securities, and overnight repurchase agreements to maintain a stable net asset value. The rating reflects the fund's robust creditworthiness, risk management, and operational resilience, specifically noting the security of its permissioned blockchain architecture. By targeting assets that qualify under the GENIUS Act, the fund aims to serve as a high-quality reserve vehicle for stablecoin issuers. This development is significant for the RWA market as it provides a regulated, institutional-grade benchmark for collateralizing digital assets. Simultaneously, S&P reaffirmed its 'weak' assessment for Tether (USDT), highlighting a clear divergence in institutional confidence between traditional financial instruments and certain existing stablecoins. The move underscores the growing integration of traditional credit rating standards into the tokenized asset ecosystem.
95% of Tokenized Stock Traders Are Retail. Here's What They're Buying.
New research from DeFiLlama analyzing Bitget order-book data reveals that 95% of tokenized stock traders are retail investors, with an average trade size of $422. The sector has experienced significant growth, with active market capitalization rising over 140% this year to nearly $2 billion. Investors are primarily utilizing stablecoins to acquire fractional exposure to major technology firms, particularly semiconductor companies, which accounted for nearly half of all trading activity. While retail participants dominate the broader market, tokenized Cisco stock displayed anomalous behavior with $125 million in volume from only 651 traders, suggesting potential institutional or high-net-worth involvement. The study highlights that as the market matures, execution quality and bid-ask spreads are becoming critical competitive differentiators for platforms like Bitget, Kraken, and Robinhood. Despite this rapid expansion, the tokenized equity market remains a small fraction of the global equity landscape. This data underscores a shift where retail-driven, 24/7 fractional trading is currently setting the pace for the asset class. The findings provide a rare empirical look at the composition of the tokenized equity ecosystem, distinguishing it from the institutional-heavy traditional stock market.
Tokenized Treasuries: $16.2B Record Market Cap
The market for tokenized U.S. Treasuries has reached a record valuation of $16.2 billion, reflecting a significant 77% growth year-to-date. This surge is driven by investors utilizing tokenized government debt as collateral within decentralized finance protocols to access liquidity. By depositing these assets to borrow stablecoins, users are deploying capital into various DeFi strategies on platforms such as Jupiter. These looping mechanisms allow participants to achieve annualized yields exceeding 10% in specific instances. This trend highlights the transition of tokenized Treasuries from niche assets into essential infrastructure for onchain finance. The rapid expansion underscores a growing institutional and retail appetite for integrating traditional yield-bearing instruments into blockchain ecosystems. As these assets become foundational, they bridge the gap between legacy financial markets and decentralized liquidity pools.
How BlackRock’s Tokenized Money Market Push For Stablecoin Reserves At BlackRock (BLK) Has Changed Its Investment Story
BlackRock has expanded its digital asset strategy by launching the BSTBL and BRSRV tokenized money market funds, signaling a strategic pivot toward integrating blockchain technology into core cash management and stablecoin reserve products. This initiative serves to deepen the firm's technology narrative, directly linking its internal innovation efforts to tangible, blockchain-based financial instruments. While these products represent a significant step in institutional adoption, they currently function alongside traditional fee-based revenue streams rather than replacing them. The move highlights BlackRock's commitment to leveraging its Aladdin platform and tokenization to capture new market segments in the evolving digital finance landscape. However, the integration of these assets onto public blockchains introduces heightened operational, regulatory, and cybersecurity risks that could impact long-term performance. Analysts note that while these tokenized offerings are innovative, the firm's primary short-term financial catalysts remain tied to execution across higher-fee alternative investments. Ultimately, the success of this tokenization push will depend on balancing technological growth with the management of complex infrastructure risks as the firm targets $35.7 billion in revenue by 2029.
Solana: BlackRock launches tokenized stablecoin reserve vehicle - 03 Aug 2026
BlackRock officially launched the Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) on the Solana blockchain on August 3, 2026, marking a significant institutional entry into onchain stablecoin reserve management. This initiative involves filing with the SEC to issue tokenized fund shares directly on the Solana network, signaling a strategic expansion of BlackRock's cash management operations. By placing stablecoin reserves onchain, the move serves as a critical operational test for Solana's infrastructure suitability for large-scale financial products. While the launch provides a high-profile institutional use case, the long-term impact on the RWA market remains contingent on actual capital inflows and broader institutional adoption. The development highlights a shift toward utilizing high-throughput public blockchains for institutional-grade financial vehicles. Ultimately, this event validates Solana's capacity to host complex, regulated financial instruments, though it does not yet guarantee widespread market integration. The success of this vehicle will be measured by its ability to attract sustained liquidity and demonstrate operational efficiency compared to traditional settlement methods.
Zerohash Adds Stablecoin Conversion Rails to BlackRock's BRSRV, a GENIUS Act Reserve Fund
BlackRock has launched the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), a multichain money market fund designed to provide compliant reserve assets for stablecoin issuers under the GENIUS Act. To facilitate investor access, Zerohash has been integrated to provide stablecoin conversion rails, allowing subscriptions to be funded directly with stablecoins rather than traditional wire transfers. This development addresses a critical friction point where regulated funds struggle to accept stablecoin balances directly. The BRSRV portfolio consists of cash, ultra-short Treasuries, and overnight repo backed by government securities, with daily dividend reinvestment features. Alongside BRSRV, BlackRock introduced BSTBL, a tokenized share class of an existing $7 billion money market fund, utilizing Securitize for tokenization infrastructure. These products aim to meet the strict reserve requirements established by the GENIUS Act, which became federal law in July 2025. By bridging the gap between stablecoin liquidity and regulated institutional instruments, Zerohash is expanding its infrastructure role beyond its traditional crypto trading and payment services. This move highlights the growing necessity for specialized conversion layers to support the institutional adoption of tokenized cash management strategies.
BlackRock Rolls Out Two Tokenized Funds, Aims To Become Stablecoin Reserve Manager Ahead Of CLARITY Act
BlackRock has expanded its digital asset footprint by launching two new tokenized money market products, the BlackRock Select Treasury Based Liquidity Fund (BSTBL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). The BSTBL fund features a tokenized share class on the Ethereum blockchain, with BNY Mellon serving as the transfer agent and tokenization provider. Simultaneously, the BRSRV fund is specifically engineered to serve as an eligible reserve asset for stablecoin issuers under the framework of the GENIUS Act. These launches follow the success of BlackRock's BUIDL fund, which reached approximately $2.5 billion in assets since its inception in March 2024. By integrating these cash management capabilities directly into digital ecosystems, BlackRock aims to meet the growing demand for high-quality, on-chain liquidity solutions. While these products signal institutional confidence in tokenized finance, broader regulatory progress remains uncertain, with prediction markets estimating only a 30% chance for the passage of the CLARITY Act this year. This strategic move underscores the firm's commitment to bridging traditional financial instruments with the evolving needs of crypto-native investors and stablecoin issuers.
BlackRock (BLK) Stock Gains Momentum with Dual Tokenized Fund Debut Under GENIUS Act
BlackRock has expanded its digital asset footprint by launching two new tokenized treasury vehicles, BSTBL and BRSRV, designed to provide institutional liquidity and stablecoin reserve backing. The BSTBL fund, supported by BNY as the transfer agent, offers qualified institutional investors blockchain-accessible shares of a money market fund focused on U.S. Treasuries and repurchase agreements. Simultaneously, the BRSRV vehicle targets blockchain-native organizations, featuring automatic daily dividend reinvestment and compliance with the GENIUS Act framework. Securitize serves as the transfer agent for BRSRV, which aims to provide stablecoin issuers with a regulated alternative to traditional cash deposits. These initiatives build upon the success of BlackRock’s BUIDL fund, which has already amassed approximately $2.5 billion in assets since its 2024 debut. By integrating its $1.073 trillion cash management expertise with blockchain infrastructure, BlackRock is positioning itself to capture a significant share of the rapidly growing $30 billion tokenized RWA market. This move underscores a broader institutional shift toward utilizing blockchain for faster settlement and more efficient treasury management within the $8.4 trillion U.S. money market sector.
BlackRock Launches Two Tokenized Money Market Funds for Stablecoin Reserves
BlackRock has expanded its digital asset footprint by launching two new blockchain-based money market funds, the BlackRock Select Treasury Based Liquidity Fund OnChain Shares (BSTBL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). BSTBL operates on the Ethereum blockchain to issue tokenized shares of a traditional money market fund, with BNY Mellon managing recordkeeping and issuance. Meanwhile, BRSRV is designed for institutional digital-asset markets, offering automated daily dividend reinvestment and cross-chain compatibility for stablecoin reserve management. Both funds invest in cash, short-term U.S. Treasuries, and repurchase agreements to maintain liquidity and principal stability. These products address the growing institutional demand for high-quality, on-chain reserve assets that bridge traditional finance with digital markets. By leveraging blockchain technology, BlackRock aims to integrate its $1.1 trillion cash management expertise into the broader $8.4 trillion U.S. money market fund sector. This move signifies a major institutional commitment to providing regulated, tokenized vehicles for corporate and stablecoin treasury management.
Partior and OpenAssets PoC proves stablecoins and tokenised deposits can settle atomically
Partior and OpenAssets have successfully completed a proof of concept demonstrating atomic delivery-versus-payment (DvP) settlement across diverse digital asset classes. The collaboration utilized a combination of regulated stablecoins and commercial tokenized deposits to facilitate seamless, real-time transactions. By proving that these distinct digital assets can settle atomically, the project addresses critical inefficiencies in cross-border payments and liquidity management. This milestone is significant for the RWA market as it validates the interoperability of bank-backed infrastructure with programmable money. The ability to execute atomic settlement reduces counterparty risk and enhances capital efficiency for institutional participants. As financial institutions increasingly explore tokenized deposits, such technical validations provide the necessary framework for scaling global settlement networks. This development underscores the ongoing shift toward blockchain-based financial market infrastructures that bridge traditional banking with digital asset ecosystems.