On-chain tokenization of real-world assets — Wall Street's migration on-chain, RWA infrastructure, tokenized treasuries, and the next $70T market.
The newest stories in on-chain tokenization and RWA.
The SEC's April 17 approval clock just hit zero. NYSE's tokenized securities rule is operative — Russell 1000 stocks, S&P 500 and Nasdaq-100 ETFs, and Treasury products can now trade on-chain on the same order book as their paper twins. First real token-settled fills expected Q3.
The SEC indefinitely shelved its long-promised innovation exemption for tokenized stocks late last week, after pushback from exchanges and internal debate over third-party issuance. ONDO dropped 6.4% and the broader RWA narrative took a hit.
The SEC is finalizing an 'innovation exemption' that would let crypto venues trade onchain versions of US stocks under lighter rules. The detail Wall Street is quietly worried about: third parties can mint the tokens, no Apple or Tesla signature required.
The Bank of England published a consultation on May 18 mapping CHAPS and RTGS toward near-24/7 settlement: 16.5x5 from September 2027, Sunday service from 2029, 22x6 by 2031, near-24x7 by decade-end. The framing the Bank now uses out loud: stablecoins are the pacing pressure.
The FCA and Bank of England jointly published a shared vision and Call for Input on tokenisation in UK wholesale markets, with a July 3 feedback deadline and a 2028 launch confirmed for a settlement synchronisation service. The pilot framing is gone — market infrastructure begins.
DTCC will integrate Chainlink's Runtime Environment and data standard into its Collateral AppChain, with production targeted for Q4 2026 — a structural step toward 24/7 collateral management across institutions and blockchain environments.
Our top picks on Wall Street tokenization and RWA.
DTCC will integrate Chainlink's Runtime Environment and data standard into its Collateral AppChain, with production targeted for Q4 2026 — a structural step toward 24/7 collateral management across institutions and blockchain environments.
DTCC custodies $114 trillion in assets and clears virtually every US stock and bond trade. When it launches its tokenization platform in October 2026, the debate over whether mainstream finance will move on-chain ends — and a harder question begins.
Tokenized real-world assets — securities, treasuries, credit.
The SEC's April 17 approval clock just hit zero. NYSE's tokenized securities rule is operative — Russell 1000 stocks, S&P 500 and Nasdaq-100 ETFs, and Treasury products can now trade on-chain on the same order book as their paper twins. First real token-settled fills expected Q3.
The SEC indefinitely shelved its long-promised innovation exemption for tokenized stocks late last week, after pushback from exchanges and internal debate over third-party issuance. ONDO dropped 6.4% and the broader RWA narrative took a hit.
The SEC is finalizing an 'innovation exemption' that would let crypto venues trade onchain versions of US stocks under lighter rules. The detail Wall Street is quietly worried about: third parties can mint the tokens, no Apple or Tesla signature required.
The Bank of England published a consultation on May 18 mapping CHAPS and RTGS toward near-24/7 settlement: 16.5x5 from September 2027, Sunday service from 2029, 22x6 by 2031, near-24x7 by decade-end. The framing the Bank now uses out loud: stablecoins are the pacing pressure.
The FCA and Bank of England jointly published a shared vision and Call for Input on tokenisation in UK wholesale markets, with a July 3 feedback deadline and a 2028 launch confirmed for a settlement synchronisation service. The pilot framing is gone — market infrastructure begins.
DTCC will integrate Chainlink's Runtime Environment and data standard into its Collateral AppChain, with production targeted for Q4 2026 — a structural step toward 24/7 collateral management across institutions and blockchain environments.
DTCC, BlackRock, Securitize — the institutional tokenization stack.
Digital Asset Holdings is closing a ~$300M growth round at a ~$2B valuation, led by a16z Crypto Fund 5 with strategic checks from Visa, Goldman Sachs, and DRW — pricing Canton Network's privacy-first institutional blockchain as the definitive tokenization infrastructure bet of 2026.
Payward, Kraken's $20B parent, agreed to acquire Hong Kong stablecoin payments firm Reap Technologies for $600M — its first Asia infrastructure deal. Reap nearly tripled revenue in 2025 and spans HK, Singapore, Mexico, Africa. The move plants a regulated payments stack at the core of Kraken's pre...
Morgan Stanley is piloting crypto trading on its E*Trade platform with a 50-basis-point fee — — a move that signals Wall Street's largest wealth managers are finally building direct retail crypto rails, not just ETF wrappers, into their mass-market brokerage infrastructure.
Bullish, the NYSE-listed institutional crypto exchange led by former NYSE President Thomas Farley, will acquire transfer agent Equiniti from Siris Capital in a $4.2 billion deal ($1.85B assumed debt + $2.35B Bullish stock). Equiniti processes $500 billion annually and manages 20M+ verified shareh...
DTCC confirmed a July 2026 limited production pilot and October full rollout for its tokenized securities platform, covering Russell 1000 constituents, major index ETFs, and US Treasuries, with BlackRock, Goldman Sachs, Circle, and 50+ firms in the working group.
DTCC custodies $114 trillion in assets and clears virtually every US stock and bond trade. When it launches its tokenization platform in October 2026, the debate over whether mainstream finance will move on-chain ends — and a harder question begins.
Tokenized stablecoins, yield-bearing money funds, and on-chain credit.
The Bank of England published a consultation on May 18 mapping CHAPS and RTGS toward near-24/7 settlement: 16.5x5 from September 2027, Sunday service from 2029, 22x6 by 2031, near-24x7 by decade-end. The framing the Bank now uses out loud: stablecoins are the pacing pressure.
Payward, Kraken's $20B parent, agreed to acquire Hong Kong stablecoin payments firm Reap Technologies for $600M — its first Asia infrastructure deal. Reap nearly tripled revenue in 2025 and spans HK, Singapore, Mexico, Africa. The move plants a regulated payments stack at the core of Kraken's pre...
State Street Investment Management and Galaxy Digital have launched SWEEP — the State Street Galaxy Onchain Liquidity Sweep Fund — on Solana, allowing stablecoin holders (starting with PayPal USD) to move idle balances into an institutional yield-bearing vehicle. Ondo Finance anchors the product ...
BlackRock filed a formal comment letter with the OCC opposing a proposed 20% ceiling on tokenized assets as stablecoin reserves under the GENIUS Act's draft rulemaking. The cap would constrain BlackRock's BUIDL fund. BlackRock is asking the OCC to remove the limit and expand eligible asset types.
Coinbase Asset Management partnered with Superstate to launch CUSHY — a stablecoin credit fund whose tokenized share class will issue onchain via Superstate FundOS on Ethereum, Solana and Base, expected to go live in Q2 2026. Northern Trust handles fund administration.
Morgan Stanley launched MSNXX on April 16, a $1.00-NAV government money market fund built for stablecoin issuers required to hold high-quality liquid assets under the GENIUS Act. Holdings: short-dated US Treasuries and overnight repos.
Hands-on explainers and primers for the tokenization stack.
DTCC custodies $114 trillion in assets and clears virtually every US stock and bond trade. When it launches its tokenization platform in October 2026, the debate over whether mainstream finance will move on-chain ends — and a harder question begins.
Real-world asset tokenization is the process of representing ownership of physical or traditional financial assets — stocks, bonds, real estate, commodities — as digital tokens on a blockchain. Here is everything you need to know.