RWA

On December 16, 2025, MP Raghav Chadha urged India's government in the Rajya Sabha to introduce a Tokenization Bill enabling fractional ownership of real estate, infrastructure, and intellectual property. In November, Maharashtra's chief minister said digitizing asset transfers could unlock an estimated ₹50 trillion in idle capital, while regulators continue limited pilots and caution.

On Dec. 17, SBI Ripple Asia signed a memorandum of understanding with Doppler Finance to explore XRP-based yield infrastructure and real‑world asset tokenization on the XRP Ledger. The companies described this as their first partnership with an XRPL‑native protocol and named SBI Digital Markets as the institutional custodian with segregated custody, aiming to route XRP into regulated yield sources despite the asset's lack of native staking.

Uniform Labs has introduced Multiliquid, an institutional liquidity layer designed for tokenised financial markets that enables atomic swaps between stablecoins and blue-chip tokenised money market funds or other real-world assets. The protocol, live on Ethereum with a Solana deployment planned, currently supports stablecoins such as USDC and USDT alongside tokenised Treasuries and other regulated RWA portfolios.

DTCC partnered with Digital Asset Holdings and the Canton Network to tokenize U.S. Treasury securities custodied at DTC, marking its first step to bring custodial assets on-chain. Following an SEC No-Action Letter earlier this month, the parties are targeting a minimum viable product in the first half of 2026, with DTCC's ComposerX platforms supporting tokenization and interoperability.

Stani Kulechov outlined a multi-decade roadmap centered on Aave V4, Horizon, and the Aave App, with a Dec. 16 post highlighting Horizon's role. The plan seeks to onboard the next trillion dollars in assets and millions of users while the DAO debates fees and revenue alignment. He also said the SEC ended its years-long Aave inquiry without enforcement.

Bhutan unveiled a Bitcoin Development Pledge on Tuesday, committing up to 10,000 BTC worth about $1 billion to fund Gelephu Mindfulness City. The plan uses collateralized lending and risk-managed yield to finance infrastructure while keeping sovereign holdings intact. King Jigme Khesar Namgyel Wangchuck announced it during his National Day Address.

On Dec. 17, Aave founder Stani Kulechov outlined a 2026 roadmap featuring the V4 upgrade, Horizon's tokenised real‑world asset lending, and a mobile app push. Horizon deposits are around $550 million after surpassing $50 million by Sept. 1, with a goal above $1 billion. The plan follows the SEC ending its investigation.

On December 17, 2025, Securitize announced plans to issue real, regulated shares directly on-chain, with rollout targeted for Q1 2026. The tokens will place buyers on issuers' cap tables and confer proxy voting and dividend rights, and trading will occur via Web3 swap-style flows through its SEC-registered broker-dealer and ATS.

The Republic of the Marshall Islands executed the first on-chain universal basic income payout using USDM1, a dollar-backed sovereign bond, on the Stellar blockchain. The ENRA program delivers instant digital transfers to residents on remote atolls, replacing physical cash deliveries. The rollout was updated on December 17, 2025.

São Paulo's Court of Auditors plans to register every document from Brazil's first public real-estate auction on a blockchain, covering the sale of ten warehouses. According to local media, auction platform Nordeste Leilões will run the process with InspireIP to deter fraud and bolster transparency. The government announced on October 21 its updated crypto framework, and BCB's AML/CFT rules are slated to begin in February 2026.