News, data and analysis on tokenized assets, market design and digital economic systems.
The servicer of $8.6tn in fund assets will keep books and records on blockchain rails, take subscriptions in stablecoins and mint fund tokens directly, starting with a digitally native Dreyfus money market fund.
The aggregator's shared liquidity layer went public across 13 chains, letting providers back several positions with the same tokens without depositing them anywhere—a capital-efficiency claim that doubles as a settlement question.
The exchange holding Nigeria's first provisional digital asset approval says businesses can now settle in 14 currencies across nine African markets and beyond, a bet that regulated rails can undercut some of the world's costliest payment corridors.
Every development we have verified against a primary source, newest first. Each entry links to the filing, release or dataset it came from.
The platform that issues BlackRock's BUIDL fund has registered Securitize Capital as an investment adviser, completing a set of licences that now runs from broker-dealer and trading venue to transfer agent, fund administrator and adviser.
Kenya gazetted the Virtual Asset Service Providers Regulations, 2026 on 24 July 2026, completing implementation of the VASP Act assented to in October 2025.
One series at a time, with its source, its cadence and what it excludes stated on the figure.
| Period | Franklin OnChain U.S. Government Money Fund, net assets | Note |
|---|---|---|
| 2022-03-31 | $1,958,000 | First full fiscal year end after the fund commenced operations on 6 April 2021; the financial highlights print net assets of $1,958 thousand. |
| 2023-03-31 | $272,929,000 | |
| 2024-03-31 | $360,554,000 | |
| 2025-03-31 | $687,263,352 | |
| 2026-03-31 | $843,835,815 | Matches the statement of assets and liabilities in the same annual report; the financial highlights round it to $843,836 thousand. |
A number on this site is either something a source published or nothing at all. Where a series has gaps we leave them as gaps: no interpolation, no carry-forward, no zero standing in for an unknown.
Aggregates are compiled per asset class from the sources named on each figure. Classes without a verified aggregate are listed but not sized.
| Category | Value |
|---|---|
| Government securities | $16,200,000,000 |
| Private credit | $6,980,000,000 |
| Tokenized funds | $1,410,000,000 |
| Real estate | $202,630,000 |
| Commodities | $4,590,000,000 |
| Equities | $1,940,000,000 |
| Asset class | Reported size | As of | Source |
|---|---|---|---|
| Government securities | $16.2bn | 25 July 2026 | RWA.xyz |
| Private credit | $6.98bn | 25 July 2026 | RWA.xyz |
| Tokenized funds | $1.41bn | 16 June 2026 | RWA.xyz |
| Real estate | $203m | 25 July 2026 | RWA.xyz |
| Commodities | $4.59bn | 25 July 2026 | RWA.xyz |
| Equities | $1.94bn | 22 July 2026 | RWA.xyz |
| Corporate debt | — | — | |
| Tokenized deposits | — | — | |
| Stablecoins | $298bn | 25 July 2026 | RWA.xyz |
| Other tokenized assets | — | — |
Longer pieces, written from the data on this site and citing it.
Receiving $200 in Sub-Saharan Africa cost 8.46% in the third quarter of 2025; the tokens undercutting that price are almost entirely dollar-denominated, and the flows are unmeasured.
Legal designation and a cash leg that was already someone's liability separate the wholesale settlement systems now carrying volume from the multi-jurisdiction platforms that handed themselves over or stayed prototypes.
Circle's euro token held €381.8m in June 2026 against $72.6bn of its dollar token, and MiCA's ban on paying interest sent what euro demand exists onchain into money market funds instead.
Secured crypto lending, US home-equity loans and AAA CLO tranches account for most of the $6.99bn; bilateral loans to mid-sized companies, the FSB's definition of private credit, barely appear.
Cryptoeconomics is edited by Olaoluwa Samuel-Biyi, co-founder of Busha, a leading African digital-asset exchange.
Hearings, conference sessions and interviews from the library, newest first, each playable on this page.
Hearing
Noticed with two discussion drafts rather than introduced bills, the Modernizing Markets Through Tokenization Act and the Capital Markets Technology Modernization Act, which is the stage at which drafting choices are still movable. SIFMA, DTCC and Nasdaq take the settlement and market-structure side, Plume Network the onchain side, and the questioning returns repeatedly to whether existing transfer-agent and custody rules can carry a token without amendment.
Publisher terms: Unstated
Conference session
Waller opened and closed a day the Board built almost entirely out of practitioners rather than staff economists, so the panels are unusually concrete about what breaks in production. The stablecoin session is the one to watch for the payments case made by firms actually settling on it, and the closing panel covers tokenised funds and collateral with BlackRock, Franklin Templeton and JPMorgan's Kinexys. Per-panel transcripts sit on the Board's media server but are not linked from the conference page, so we link one here.
Transcript at federalreserve.gov
Publisher terms: Full text · transcript linked below
Roundtable
The first time the two agencies sat in one room to work through which of them regulates what. The value is in panel one, where J. Christopher Giancarlo walks back through how the split arose, and in panel two, where Polymarket and Kalshi appear alongside CME, Cboe and ICE and the event-contract boundary gets argued directly rather than in comment letters. This file covers opening remarks and panel one; the later panels were published separately. The two agencies' own pages disagree on when the session ended, so we have not printed a finish time.
Publisher terms: Full text
Podcast
Two BIS economists take the definitional question slowly, which is the reason to start here rather than with a paper: what a token has to carry before it is anything more than a database row. The episode has no page of its own on the BIS site, so the date here comes from podcast directories rather than from the BIS.
Publisher terms: Excerpt and link
A dated, sourced entry for each development that changed the market structure.
BNY said on 29 July 2026 that it had launched Digital Transfer Agency capabilities, keeping fund books and records on blockchain rails with legal title recorded there, accepting subscriptions and redemptions in either fiat or stablecoins, and issuing fund tokens by mint and burn. The service runs alongside the conventional transfer agency that services roughly $8.6tn across more than 7.6 million investor accounts, and starts with three funds: BLIQUID from BNY Investments Dreyfus, the Baillie Gifford Enhanced Yield Fund, and a BlackRock tokenized money market fund share class aimed at stablecoin reserves.
1inch opened Aqua to the public on 28 July 2026 across 13 EVM networks including Ethereum, Arbitrum, Base and BNB Chain. Providers authorise the protocol against tokens that stay in their own wallets rather than depositing them in a pool, and the same balance can stand behind several quoted positions at once. The 1inch Foundation allocated 10 million 1INCH to provider rewards, with a further 500,000 USDC proposed and pending governance approval, and the release says the protocol went through eight independent audits.
Quidax said on 28 July 2026 that its stablecoin payment infrastructure now reaches more than 21 countries and 14 currencies, with corridors across nine African markets including Nigeria, Ghana, Kenya, South Africa and Côte d'Ivoire alongside destinations such as the United Kingdom, the United States, Canada, China and the United Arab Emirates. USDT, XAUT and USAT are among the supported stablecoins. The company holds an approval-in-principle as a digital assets exchange from Nigeria's Securities and Exchange Commission rather than a full registration.
Circle said on 27 July 2026 that it had acquired IBM's blockchain patent portfolio, more than 680 patent families and close to 1,000 issued patents worldwide, covering foundational technology alongside applications in banking, insurance, enterprise infrastructure and supply-chain verification. No price was disclosed.
Judge Katherine Menendez of the US District Court for the District of Minnesota granted preliminary injunctions on 27 July 2026 against Senate File 3432, which would have criminalised operating a prediction market platform in the state from August. The court found the plaintiffs, Kalshi, Polymarket and the CFTC, likely to succeed on their claim that the Commodity Exchange Act preempts the statute. The injunction holds until the merits are decided.
The National Football League filed a comment letter on 27 July 2026 on the CFTC's proposed public interest determinations rule, saying the draft falls significantly short and asking the Commission to prohibit outright the categories it considers manipulable, including contracts on officiating, individual player performance and events knowable in advance, rather than review them case by case. It also asked for a minimum age of 21 and league-specific prohibited-bettor lists.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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