tokenized

Token Terminal data shows that the daily trading volume of tokenized stocks on Base has surpassed 100 million USD for the first time, setting a historical high.The cumulative trading volume over the past 30 days is approximately 730.9 million USD, with Aerodrome contributing about 557.1 million USD, accounting for approximately 76%.

According to Ledger Insights, the European Securities and Markets Authority (ESMA) recently published the "Trends, Risks, and Vulnerabilities Report for the First Half of 2026," in which digital assets and prediction markets occupy three chapters. Regarding crypto assets, the report warns that the increasing ties between cryptocurrencies and the traditional financial sector pose risks. Concerning tokenization, the report points out that issuing different tokenized versions of the same stock may lead to fragmented liquidity.As for prediction markets, the report believes that prediction markets have not yet seen significant development in Europe. This is because major platforms do not yet hold EU licenses, and in most cases, they need to obtain licenses. The European Securities and Markets Authority (ESMA) outlines some potential advantages of tokenization, including increased efficiency, expanded investor access, programmability, and atomic settlement. On the other hand, ESMA also questions how much these advantages are actually realized within these encapsulated structures.Since the ownership of the underlying stocks is off-chain, there is no single data source on-chain, and self-custody can only be achieved indirectly through these structures. Tokenization structures also introduce additional layers of intermediaries, leading to complexity and risk. The settlement advantages are also difficult to realize. Even if token transfers occur on-chain, the cash portion of the transaction is usually settled separately, whether through bank payments or other channels. This means that for certain transactions, the promised atomic settlement (i.e., simultaneous delivery of securities and cash) has not yet been achieved.

In the RWA on-chain market, the scale of tokenized gold is 5.1 billion dollars, accounting for 11%. Among them, XAUT has a scale of 2.7 billion dollars, PAXG is 1.9 billion dollars, followed by KAU at 230.8 million dollars, PGOLD at 85.1 million dollars, and XAUM at 66.1 million dollars.

According to Token Terminal data, the number of tokenized stock asset holders has increased by 619.1% over the past 90 days to 3.6 million. BNB Chain leads with 1.5 million, followed closely by Robinhood Chain with 1.2 million, and Solana with 647,500.Token Terminal indicates that distribution channels are rapidly becoming a key battleground for tokenized stocks.

The Office of the Superintendent of Financial Institutions (OSFI) in Canada stated on Thursday that tokenized deposits are legally indistinguishable from traditional deposits, and noted that the underlying technology used in financial products or services does not determine their legal nature.OSFI indicated that financial institutions can conduct tokenized deposit business under existing financial regulatory laws without the need to establish additional regulatory provisions. Financial institutions and third parties acting on their behalf must ensure that their operations comply with applicable laws and regulations. OSFI requires financial institutions to communicate in advance with the OSFI supervisor responsible for regulation before launching new products or services, and recommends seeking legal advice prior to going live. The agency oversees nearly 350 financial institutions and 1,200 pension plans.

The Securities and Exchange Board of India (SEBI) announced on Thursday that three issuers raised a total of 102.5 million rupees (approximately 10.72 million USD) through its Demat 2 pilot program by issuing tokenized corporate bonds. This pilot utilizes distributed ledger technology to issue, hold, and settle corporate bonds.REC Ltd. was the first to issue on September 7, raising 50 million rupees (approximately 5.23 million USD) from 18 investors; L&T Ltd. raised a similar amount from 4 investors on September 9, and IIFL raised 25 million rupees (approximately 2.6 million USD) from 1 investor on the same day. SEBI stated that the pilot infrastructure records corporate bonds in the form of native digital tokens on a distributed ledger owned by the depository and achieves atomic settlement of bonds and funds through a unified market interface connected to the Reserve Bank of India’s wholesale central bank digital currency.This mechanism can reduce settlement risks arising from the separation of securities and funds transfer, allowing issuers to receive funds on the same day as the bidding, whereas the existing process typically takes two to three days. The regulator noted that the information of bondholders on the shared ledger is instantly visible to all authorized entities, and at maturity, e₹ payments will go directly into the bondholders' central bank digital currency wallets. SEBI clarified that this pilot does not create a new category of corporate bonds; tokenized bonds retain the same ISIN, issuer obligations, coupon, maturity, covenants, ratings, and investor rights as traditional paperless bonds. The pilot will be implemented in three phases, with the first phase covering institutional issuance, while secondary trading and retail access will be conducted in subsequent phases within SEBI's regulatory sandbox.

According to Token Terminal data, the tokenized U.S. Treasury product USYC (under Circle) has increased its market value by 2 billion dollars in the past year, ranking first among similar assets; iBENJI and USDY follow closely, with increases of 1.7 billion dollars and 1.5 billion dollars, respectively. BlackRock's BUIDL grew by 552.5 million dollars during the same period, ranking fifth.

According to a statement released by the Office of the Superintendent of Financial Institutions (OSFI) in Canada, OSFI clarifies its technology-neutral stance, stating that tokenized and other digital deposits are legally indistinguishable from traditional deposits, and the underlying technology of financial products or services does not determine their legal nature.OSFI requires financial institutions to ensure that innovative activities (including activities carried out by third parties on their behalf) comply with relevant laws and regulations, and must adhere to guidelines such as B-13 Technology and Cyber Risk Management and B-10 Third Party Risk Management. Financial institutions must communicate with OSFI supervisors in advance before launching any new products or services and seek legal advice when necessary.

Centrifuge, in a post on X, announced that the governance proposal CP172 has been approved. The official statement indicates that this is the first time in history that tokens will be converted into tokenized equity. After necessary approvals and legal analysis are completed, Centrifuge will proceed with the proposed restructuring.According to the governance forum proposal, the Centrifuge Network Foundation plans to restructure and re-register as a Cayman Islands exempt limited liability company, Centrifuge, Inc., to issue equity. Eligible CFG token holders can exchange 1 CFG for 1 share of tokenized equity through the Centrifuge platform, with no additional fees. Qualified holders with 100,000 CFG or more will be directly registered as shareholders, while those with less than 100,000 will participate through a trust structure in collaboration with CoinList.The conversion is voluntary, and non-participating holders can continue to hold or sell their tokens on the open market. Centrifuge will strive to maintain market liquidity during the conversion period. The proposal is legally guided by Ogier, with advisory support from Galaxy Digital Labs LLC and The Tokenized Asset Coalition.

According to CoinDesk, the SEC's proposed new regulatory plan may address the legal and compliance pain points in the holding and trading process of tokenized securities markets by offering compliance exemptions or regulatory sandbox mechanisms.

Valinor Digital announced the launch of the tokenized fund Valinor BDC Exposure Fund (VBDC), which holds a basket of publicly listed Business Development Company (BDC) stocks, providing qualified investors with exposure to private credit returns, supporting daily subscriptions and redemptions. The fund is issued as a series of the Superstate Asset Trust, custodied on Superstate's FundOS platform, and managed by Valinor Digital Capital.VBDC charges an additional 1.25% management fee on top of the existing BDC fee structure, with a daily redemption limit of 7.5% of net asset value. Currently, 499,157 shares of the fund have not been tokenized, and the VBDC token contract went live on Ethereum on September 1, with a total supply of zero and no transfer records. The Superstate asset page has marked the DeFi integration as "coming soon."VBDC is the fourth tokenized fund on the Superstate platform, pushing the total assets on the platform beyond $1 billion. Valinor was founded by former Blackstone GSO executive Connor Dougherty at the end of 2023 and completed a $25 million seed round led by Castle Island Ventures in March of this year, with participation from Apollo, Maven 11, and Neoclassic Capital.

According to CoinDesk, London challenger bank Monument Bank has postponed its £250 million (approximately $330 million) project to tokenize UK retail bank deposits for several months, as the bank has been unable to find a local crypto custodian that meets the Financial Conduct Authority (FCA) standards and can handle zero-knowledge privacy proofs.Mintoo Bhandari, founder of Monument Bank, stated that the bank originally planned to tokenize customer deposits on the privacy public chain Midnight, hoping to launch the world's first tokenized deposits two months ago, but it is now expected to take another two months, with a retail customer launch in November. To meet regulatory requirements, the bank expanded its search for custodial partners to overseas, ultimately finding a Canadian custodian approved by the FCA.Midnight is a privacy-first Layer 1 blockchain project funded by Charles Hoskinson, which keeps customer information within the Monument system through zero-knowledge proofs while allowing the bank to prove compliance on-chain and provide audit records to regulators. Monument Bank announced the project in March this year, planning to offer tokenized private equity, structured products, and automated Lombard loans to "mass affluent" customers with investable assets ranging from £50,000 to £5 million.Bhandari stated that customer deposits will continue to earn interest, fully backed by Monument, and can be exchanged at a 1:1 ratio for pounds, protected by the Financial Services Compensation Scheme (FSCS), with a limit of £120,000 per person or company.

Arya.ag, an agricultural warehousing and loan company in India, is testing a system for tokenizing warehouse receipts for stored grains on the Avalanche dedicated Layer 1 blockchain. Arya.ag is collaborating with Finternet to connect grain storage, warehouse receipts, collateral commitments, and loan statuses through this network. Devika Mittal, head of Ava Labs India, stated that the testing is underway, with each tokenized warehouse receipt representing ownership of the stored goods.Sanmesh Kalyanpur, a director at Finternet Labs, mentioned that Arya.ag's samplers collect information on stored grains and input it into the company portal. Finternet will integrate farmers, commodities, warehouses, and insurance information into a "composite token" for banks to assess collateral risks. Arya.ag stores approximately $2 billion worth of agricultural products in its warehouse network and supports loans of about 120 billion Indian Rupees (approximately $1.26 billion) annually, with its loan department, Arya Dhan, disbursing around $230 million in loans each year.The concept of Finternet originated from a 2024 paper by the Bank for International Settlements (BIS), co-authored by Infosys co-founder Nandan Nilekani and then-BIS General Manager Agustín Carstens, proposing the establishment of an interconnected unified ledger for tokenized assets. In 2024, the Indian government launched a 10 billion Rupee credit guarantee scheme to encourage financing against electronic transferable warehouse receipts. The two companies have not disclosed the expected launch date or initial deployment scale.

Pump.fun announced on Wednesday the launch of a new feature called Custom Pairs, allowing creators to choose tokenized stocks, wrapped Bitcoin, Ethereum, and metals as quote assets when issuing tokens, no longer limited to SOL and USDC trading pairs. Currently, there are 93 supported quote asset pairs, covering tokenized Nvidia, Tesla, and the S&P 500, among others. The Custom Pairs creation form is now live, and its joint curve and PumpSwap protocol fee rates are consistent with standard issuance, with 50% of the revenue going into the PUMP buyback and burn contract.The newly added 20 trading pairs are introduced by the Solana asset listing platform Sunrise through the Wormhole native token transfer framework, issued by Backpack Securities, covering U.S. stocks such as Boeing, Alibaba, Costco, Dell, Trump Media, IBM, Johnson & Johnson, Lockheed Martin, Lululemon, MGM, Pfizer, Roblox, Reddit, Rivian, Shopify, Snap, and UPS. With the addition of the xStocks tokenized stock line issued by Backed Finance, the total number of quote asset pairs supported by Pump.fun reaches 93. Creator fees are paid in quote assets, with a fee rate range of 0.05% to 1%.Data shows that the first batch of Custom Pairs pools uses wrapped Bitcoin as the quote asset, with the Wrapped ETH pool having the highest liquidity, reaching $3.07 million.

According to CoinDesk, Citibank will launch an international transfer service based on tokenized deposits for Japanese companies by the end of the year, enabling 24/7 instant cross-border payments between five countries, becoming the first foreign bank to offer this service in Japan.

The cryptocurrency security warehouse leverage, unified account model, and unified account professional version will add 2 types of bStocks tokens—Hims & Hers (HIMSB) and Salesforce (CRMB)—as eligible collateral assets on September 9, 2026, at 20:00. Eligible users can use these bStocks tokens as margin collateral to expand the collateral options for margin trading.

The Rollup founder Andy posted that market rumors suggest the U.S. Securities and Exchange Commission (SEC) is preparing to launch the largest tokenization innovation exemption policy to date, which may allow tokenized securities to be traded solely through registered transfer agents, without the need for broker-dealer licenses, and without adhering to traditional trading platform or ATS-related rules. It is also reported that this could cover U.S. retail investors and overseas investors.Andy stated that if the above news is true, its potential impact would be significant. Tokenized funds could be issued and traded directly in the form of on-chain tokens, with transfer agents maintaining legal ownership records on-chain, while the underlying assets held by the fund, such as stocks and bonds, could also be further tokenized, thus forming an on-chain trading system of "fund tokens + underlying asset tokens."Andy later mentioned that a large fund has already received the SEC's "green light," but this has not yet been officially confirmed. He speculated that ARK, Fidelity, or BlackRock could be potential participants. If the policy is ultimately implemented, U.S. asset management firms may accelerate the issuance of native equity tokens to compete for around-the-clock liquidity and on-chain distribution channels, rather than waiting for third parties to mirror tokenize traditional securities. He further linked this potential policy change to the recent push by the Trump administration for regulatory openness in the crypto market, as well as the CFTC's efforts to bring perpetual contracts to the U.S. market, believing that the U.S. regulatory environment may be gradually opening the policy floodgates for on-chain finance.

According to the latest data from RootData's tokenized asset dashboard, the top 3 assets by depth for the exchanges Binance, OKX, and Hyperliquid are as follows:The top three assets by depth on Binance are CL_2 (approximately 12.92 million USD), XAG (approximately 11.54 million USD), and SPCX (approximately 8.05 million USD).The top three assets by depth on OKX are SPCX (approximately 2.67 million USD), SNDK (approximately 2.52 million USD), and MU (approximately 1.63 million USD).The top three assets by depth on Hyperliquid are SNDK (approximately 10.20 million USD), SPCX (approximately 7.62 million USD), and MU (approximately 6.05 million USD).It is reported that this statistical scope only includes native crypto asset types such as contracts and tokenized assets, excluding data from traditional stock brokers.

Robinhood's blockchain issuance platform Long.xyz announced that its tokenized stock trading volume on the Robinhood blockchain has surpassed 1 billion dollars, reaching a new milestone.Since the launch of the Robinhood blockchain, it has contributed 15% of the total trading volume of tokenized stock DEX. Meanwhile, despite the TVL of the Robinhood blockchain increasing tenfold, Long.xyz still accounts for 10% of the total TVL of tokenized stocks on the blockchain.