RWA

Ondo Global Markets will list over 200 tokenized stocks and ETFs on Solana, aiming to reach more than 2.8M daily active users. The firm says its liquidity model connects to NASDAQ and NYSE, positioning the Solana expansion to compete with XStocks and extend Ondo's RWA footprint after earlier launches on Ethereum and BNB Chain.

XDC Foundation executive Billy Sebell argues that trade finance is blockchain's most significant real-world use case, citing a $9.7-trillion market and a $2.5-trillion funding gap. He points to the UK's 2023 Electronic Trade Documents Act and the US 2025 GENIUS Act, plus $18.9 billion in tokenized private credit, as catalysts for on-chain receivables and SME liquidity.

The New York Stock Exchange, backed by Intercontinental Exchange, is developing a blockchain-based platform for on‑chain trading and settlement of tokenized US equities and ETFs, designed to operate around the clock. The system will merge the NYSE Pillar matching engine with blockchain post-trade processes, support stablecoin-funded fractional orders, and rely on tokenized deposits from banks such as BNY and Citi to maintain continuous collateral. Its rollout coincides with the US move to T+1 settlement and a macro backdrop where lower interest rates and the rise of tokenized US Treasuries and Bitcoin spot ETFs are reshaping institutional liquidity management.

Gold's move beyond $4,800 has coincided with a surge in tokenized gold, with XAUT and PAXG drawing elevated activity. A CEX.io report says trading in these assets totaled $178 billion in 2025, including $126 billion in Q4, placing the segment behind only GLD by volume among U.S.-listed funds.

Bhutan plans to deploy a validator on the Sei Network in Q1 through a collaboration between the Sei Development Foundation and Druk Holding and Investments' technology division. Officials highlighted future workstreams in payments, tokenization and digital ID. Bitbo estimates the kingdom holds around 11,286 BTC worth over $1 billion alongside an Ethereum-powered self-sovereign ID program.

Stablecoin appchain Noble plans a standalone EVM Layer 1, departing its Cosmos SDK stack. People familiar with the upgrade say mainnet is slated for March 18, while the team maintains short‑term Cosmos support. The new network targets sub‑second finality for stablecoin and FX use cases, after processing over $22 billion across 50 chains since 2023.

An official Ethereum update on January 19 said adoption by major institutions has accelerated, with 35 firms — including BlackRock, JPMorgan, and Fidelity — launching products on the network. Recent releases span tokenized stocks, money market funds, stablecoins, and bank deposits, alongside activity by JPMorgan, Societe Generale, Stripe, SoFi, and Google.

The combined stablecoin market cap has climbed to a record $307.7 billion, while tokenized funds and other RWAs are also at all-time highs. At the same time, Bitcoin's market cap has dropped faster than stablecoin supply, driving the Stablecoin Supply Ratio sharply lower and signaling unusually large sidelined buying power. This pattern has historically appeared near local market bottoms, with on-chain liquidity waiting for clearer risk conditions before rotating back into volatile assets.

At a closed-door World Economic Forum workshop in Davos, Hong Kong Finance Secretary Paul Chan reaffirmed the city's "same activity, same risk, same regulation" framework for digital assets and called for guardrails to match financial innovation. He highlighted Hong Kong's licensing regime for virtual asset trading platforms, upcoming stablecoin licenses in the first quarter and the issuance of $2.1 billion in tokenized green bonds since 2023.

Chainlink announced on Tuesday that it is rolling out 24/5 U.S. Equities Streams to supply onchain market data for tokenized stocks and ETFs. The solution, tied to the Chainlink Data Standard integrated with 40 blockchains, will be adopted by platforms such as Lighter and BitMEX to extend trading beyond regular hours.