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The tokenized U.S. Treasury fund VBILL under VanEck has officially launched on the DeFi lending protocol Euler. The fund is issued and tokenized by Securitize, allowing investors to use tokenized U.S. Treasuries as collateral for on-chain lending and liquidity operations, while also meeting compliance requirements. This move reflects that DeFi protocols are accelerating their transformation towards institutionalization and compliance to attract traditional financial capital into the on-chain market.Data shows that the scale of tokenized U.S. Treasuries has surpassed $15 billion, growing approximately 150% over the past year. Traditional asset management giants such as BlackRock, Franklin Templeton, and Janus Henderson have all launched on-chain Treasury or money market products. Euler has previously integrated Securitize's DS Protocol to support the access of tokenized securities with investor qualification restrictions and transfer rules to the lending market. DeFi protocols like Aave are also laying out institutional-level RWA business. Institutions expect that the asset tokenization market could reach $18.9 trillion by 2033. Securitize executives stated that as traditional financial institutions enter the crypto space, DeFi protocols must find a balance between openness and compliance requirements.

According to Globenewswire, the publicly listed Bitcoin treasury company Genius Group announced that its board has approved the expansion of the company's treasury strategy, adding an AI treasury to the existing Bitcoin treasury and launching the AGI Infinity Portfolio. The initial target investment scale is set at $100 million, with a five-year goal to expand to $800 million. The first phase, approximately $20 million, will be allocated through related funds to equity in unlisted AI companies such as OpenAI, SpaceX, Anthropic, Figure AI, Databricks, Anduril, Replit, and Shield AI. The remaining $80 million is planned to be invested in industries such as electricity, computing power, hyperscale cloud, cutting-edge models, and robotics.

According to The Block, the Bank for International Settlements (BIS) announced that its "Project Agorá" tokenization prototype has successfully verified the feasibility of atomic settlement for cross-border wholesale transactions. The prototype employs a layered architecture, utilizing tokenized central bank reserves and commercial bank deposits to achieve "all or nothing" transaction chain execution across multiple currencies and jurisdictions, while allowing central banks to retain operational autonomy.Legal analysis shows that finality of settlement can be achieved in all seven participating jurisdictions, and privacy protection can also be ensured within a compliant framework. The project is jointly initiated by the BIS and the International Financial Association, with participation from seven central banks including the Federal Reserve Bank of New York, the Bank of England, the Bank of France, the Bank of Japan, the Bank of Korea, the Bank of Mexico, and the Swiss National Bank, as well as over 40 private financial institutions. In the next phase, the Bank of Canada will officially join as the eighth central bank member, and the project will advance to the real value testing stage, further expanding private sector participation.

A recent report from blockchain analysis company Chainalysis points out that compliance standards in the cryptocurrency industry are tightening significantly, with about 47% of organizations entering the market in 2026 having pre-warning standards that can reach the strict levels of the top 10% of the industry in 2020. This indicates that the entire ecosystem is maturing rapidly, with newcomers equipped with more aggressive monitoring measures from the outset.The report shows that companies' "direct monitoring" of funds coming directly from known illegal sources has become consistent and strict, but there is still a significant gap in "indirect monitoring" of funds flowing through intermediary addresses. For example, the indirect risk warning thresholds for categories such as ransomware and fraudulent stores on cryptocurrency trading platforms are often 10 to 100 times higher than direct thresholds. The Chainalysis team points out that this gap between direct and indirect monitoring creates opportunities for illegal actors. Companies that can bridge this gap will not only enhance their regulatory defenses but also distinguish themselves as trustworthy counterparties.The report suggests that this indicates the industry is in a transitional period, having achieved specialization in direct risk management but not yet treating indirect risks with the same rigor. The elevation of industry compliance standards is a response to increasingly stringent regulations and ongoing threats from entities such as North Korean hacker groups. In 2025 alone, hackers linked to North Korea caused approximately $2 billion in cryptocurrency losses.

According to First Financial News, recently Futu and ChangQiao have both started to clean up accounts that opened with false documentation, as well as empty accounts with no assets or positions, processing the closure of these two types of accounts.At the same time, the Futu NiuNiu APP has added a new quick access entry for "Update Identity Information" in the "Account" section, along with a document titled "Instructions for Updating Identity Information," reminding customers that if they hold valid foreign identity proof, the completion of the information update will not affect any account transactions, fund deposits, or withdrawals, and other business functions.

Hua Xia Fund (Hong Kong) announced the official launch of the tokenized gold exchange-traded fund "Hua Xia Digital Gold ETF," which will be listed on the Hong Kong Stock Exchange on May 29, 2026. This fund relies on a native blockchain architecture, with physical gold stored in institutional-grade vaults in Hong Kong, adopting a physical replication strategy and not involving futures or other derivative investments.

In response to The Information's report that "Polymarket plans to require users to complete KYC due to compliance pressure," Polymarket's Vice President of Engineering, Josh Stevens, stated that the report is not true.Josh Stevens indicated that Polymarket is currently testing a new beta product that only requires some trial users to complete KYC verification during the testing period; the existing Polymarket website has not added any KYC requirements.He further stated that after the testing of this product ends, users will no longer need KYC to use it.

According to CoinDesk, Wall Street investment bank Jefferies stated that as institutional investors accelerate their shift towards blockchain financial infrastructure, the cryptocurrency and blockchain sector may see a new wave of IPOs in the next two years, potentially forming a public market worth $1 trillion within five years.Jefferies released a report indicating that the current industry focus is shifting from speculation on cryptocurrency asset prices to the comprehensive integration of blockchain infrastructure by banks, exchanges, asset management, and payment institutions. Companies like Kraken's parent company Payward and Securitize are advancing their IPO plans, and more crypto-related companies are expected to enter the public market in the future.Tokenization is seen as a key driving force behind this structural change, with money market funds, private credit, and on-chain settlement systems already entering the practical implementation stage. The gradual clarification of the regulatory environment will further accelerate institutional adoption. At this stage, the market is shifting from short-term speculation to long-term technological reassessment, and crypto IPOs may become an important gateway connecting traditional capital markets with the on-chain economy.

According to CoinDesk, the latest research from Project Agorá, led by the Bank for International Settlements (BIS), shows that tokenization technology is expected to significantly improve settlement speed and reconciliation efficiency in cross-border payments, while reducing transaction failures and operational risks.The project involves BIS collaborating with seven central banks and over 40 financial institutions, including the New York Fed, Bank of England, Bank of Japan, and Swiss National Bank. The research suggests that tokenizing central bank reserves and commercial bank deposits can support "atomic settlement" across currencies and jurisdictions, allowing transactions to "either complete simultaneously or fail simultaneously," thereby reducing the credit and execution risks commonly associated with cross-border payments.Currently, Project Agorá has completed the simulation testing phase and plans to enter the "real-value" trading testing phase to explore on-chain settlement applications for certain currencies and institutions in a real funds environment.

According to Jin Shi reports, Tim Miller, the current host of the blog "The Bulwark Podcast," shared on social media the preliminary informal document content of the U.S.-Iran memorandum of understanding published by Iranian state television.Subsequently, the official White House account "Rapid Response 47" retweeted Miller's post, stating that he "has contracted an extremely severe case of 'Trump Derangement Syndrome,' to the extent that his 'pea-sized' brain has been distorted, and he has begun to treat reports from Iranian state media as facts, even spreading false information on their behalf. Perhaps Tim should register as a foreign government agent under the Foreign Agents Registration Act (FARA)."

According to CoinDesk, Wall Street clearing giant DTCC announced that its tokenized securities platform plans to connect to the Stellar (XLM) network in the first half of 2027, bringing tokenized stocks, ETFs, and U.S. Treasuries hosted by the Depository Trust Company to Stellar. Both parties stated that this integration will support the issuance, settlement, and full lifecycle management of traditional securities on-chain, and explore the tokenization of highly liquid assets, including major stock indices and U.S. Treasuries.

The Depository Trust & Clearing Corporation (DTCC) and the Stellar Development Foundation announced a partnership to implement DTC custody asset tokenization services on the Stellar network, with related assets scheduled to officially launch in the first half of 2027.DTCC had already received a no-action letter from the U.S. SEC in December 2025, allowing it to engage in real-world asset tokenization business. The two parties will focus on advancing the on-chain conversion of highly liquid assets such as Russell 1000 constituents, mainstream index ETFs, U.S. Treasury bonds, and various types of bonds.This collaboration relies on the Stellar network to build a compliant on-chain channel, marking an important advancement for traditional financial infrastructure to embrace blockchain, and will further broaden the application scenarios for real-world asset tokenization.

According to CoinDesk, Mastercard Transaction Services (U.S.) LLC, a subsidiary of Mastercard, has been granted a BitLicense by the New York State Department of Financial Services (NYDFS), allowing it to conduct digital asset-related business in the state. This approval is part of its strategy to build a blockchain-based payment and settlement infrastructure, focusing on stablecoins and tokenized deposits.The New York BitLicense requires licensed institutions to meet strict standards in areas such as capital, cybersecurity, compliance, and consumer protection. Mastercard stated that this license will support its layout in digital currencies such as stablecoins and tokenized deposits, while continuing to adhere to the compliance and operational standards of its global payment network, promoting the parallel development of traditional financial systems and blockchain payment tracks.

According to CoinDesk, Solana's decentralized exchange Orca has launched a "permissioned pool" infrastructure aimed at tokenized trading of physical assets with high compliance requirements. The first participant is the commodity tokenization company Streamex, whose gold-linked security GLDY will become the first compliant token traded in this system.Orca stated that this mechanism is primarily aimed at the U.S. market, allowing only qualified investors who have passed KYC verification to buy, sell, and hold the relevant tokens. Issuers can customize access rules, which will be automatically enforced by the on-chain system. The permissioned pool operates on top of Orca's existing liquidity infrastructure, and the interface will indicate whether assets are restricted and whether users are eligible to trade.

According to a report by the Financial Associated Press, in response to the issue of "some banks in the Hong Kong region requiring a declaration to open investment accounts," the Hong Kong Monetary Authority (HKMA) responded today that the relevant regulatory requirements were issued to all recognized institutions on May 22.Materials provided by the HKMA indicate that registered institutions must take three additional measures when opening and managing investment accounts for mainland investors, including:Closing investment accounts opened using suspicious or forged documents, identifying customer investment accounts that have used suspicious or forged documents since January 2023 or during any other period specified by the HKMA; relevant documents include identification documents.Closing investment accounts with zero balance that have been inactive, specifically referring to investment accounts held by mainland investors that have had no asset balance as of May 22, 2026 (reference date), and have had no activity initiated by the customer in the 12 months prior to the reference date.When opening new investment accounts, obtaining a written declaration from the mainland investor confirming that all funds used to support investment activities and related settlements come from legal sources outside mainland China.Relevant documents show that the newly added additional regulatory measures apply only to investment accounts, including investment accounts within comprehensive bank accounts; non-investment functions (such as regular savings, time deposits, payments, loans, and credit cards) are not within the scope of these measures. Additionally, the applicable subjects of these additional measures are individual customers and do not apply to corporate or institutional clients.

a16z stated on social media that Ethereum continues to lead in the field of tokenized assets, consistent with its first-mover advantage in DeFi and institutional adoption. The current scale of tokenized assets on major blockchains is as follows:Ethereum: $15.7 billionBNB Chain: $4 billionSolana: $2.2 billionStellar: $1.7 billionLiquid Network: $1.5 billionXRP Ledger, ZKsync Era, Arbitrum: approximately $1 billion eacha16z indicated that tokenized assets are not concentrated on a single blockchain but are spreading across multiple blockchain ecosystems based on standards such as cost, liquidity, compliance requirements, and market entry relationships, forming a multi-chain coexistence pattern.