News, data and analysis on tokenized assets, market design and digital economic systems.
Securities issued, settled and serviced on programmable ledgers: government paper, funds, credit and the market structure forming around them.
Abu Dhabi's Mubadala Capital placed a $75m private markets strategy onchain through the KAIO platform on 23 July 2026, issuing on Solana, Sui and Base. Coinbase took exposure to the tokenized fund.
BNY said in July 2026 that it plans to pilot tokenized US Treasuries on its private blockchain by the end of 2026 and offer round-the-clock settlement for both conventional and…
Franklin Templeton's Benji tokenization platform held $2.44bn in assets as of 18 July 2026, of which $1.5bn, or 61.7%, sat on BNB Chain, overtaking Stellar. BNB Chain balances…
DTCC started limited production trading on its DTC Tokenization Service in July 2026, covering Russell 1000 constituent stocks, major ETFs and US Treasury securities. JPMorgan,…
HM Treasury published the first report of its Wholesale Digital Markets Champion, Chris Woolard, on 13 July 2026. The report projects £33bn in annual economic benefit and £14bn in…
Robinhood began operating Robinhood Chain on mainnet on 1 July 2026, alongside round-the-clock tokenized stock trading, perpetual futures and onchain lending. The tokens give…
Securitize brought Hamilton Lane's tokenized Senior Credit Opportunities Fund to Tron on 2 June 2026, its first issuance on that network. The feeder fund held about $4.28m and…
Trading volume in tokenized gold reached $90.7bn in the first quarter of 2026, exceeding the total for all of 2025, according to research published by CEX.IO. Tether Gold and Pax…
State Street announced on 28 April 2026 that it would launch tokenized fund servicing from Luxembourg, initially for tokenized money market fund issuers, later in 2026. The…
The European Central Bank published a study of the tokenised bond market in Issue 33 of its Macroprudential Bulletin on 13 April 2026, comparing matched samples of tokenised and…
The Securities and Exchange Commission approved a Nasdaq rule change on 18 March 2026 allowing certain tokenized securities to trade on the exchange, alongside an interpretation…
JPMorgan said on 7 January 2026 that it would issue JPMD, its dollar deposit token, natively on the Canton Network, a privacy-oriented institutional blockchain. The move extends…
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.
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.
Ten products hold 86% of the $16.20bn outstanding, the largest is a Cayman fund pledged as exchange margin, and one manager's own affiliates own 27% of the flagship US-registered vehicle.
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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