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Korean KakaoPay's securities and tokenization platform Dinari and Ondo Finance have reached separate collaborations to explore the on-chain integration of Korean listed stocks and distribution to overseas market investors. KakaoPay announced these two independent agreements on Tuesday, covering the acquisition of target Korean stocks, tokenization infrastructure, and potential distribution arrangements outside of Korea.The collaboration with Dinari will rely on its dShares model for a proof of concept, which aims to retain shareholder rights, including dividends and voting. Dinari currently offers 724 tokenized U.S. stocks and ETFs through dShares, and this collaboration explores extending that model to stocks of Korean listed companies. Dinari CEO Gabe Otte stated that the proof of concept has not yet selected specific Korean listed companies and has not set a commercialization timeline; the proposed model will use locally listed stocks in Korea as the underlying assets, rather than tokens that only track their prices.The initial focus of the agreement with Ondo is to establish a framework for the acquisition and custody of Korean listed stocks, preparing for subsequent tokenization. KakaoPay will operate a comprehensive account for foreign investors to hold and manage the underlying stocks, and both parties will also study the issuance and redemption mechanisms for tokens. This collaboration comes as Korea advances its token securities regulatory framework: the Korean National Assembly passed an amendment in January this year, recognizing distributed ledgers as legitimate securities registries; the Financial Services Commission included it in capital market reforms in June; and the framework is set to take effect in February 2027.

During an interview with The Block at the Ondo event held in Seoul, South Korea, Ondo Perps CEO David Wells stated that offering perpetual contracts in the United States is a "huge opportunity," and that it is "reasonable" for Ondo to explore such expansion. He mentioned that everyone is paying attention to the U.S. because there are now more opportunities opening up that were previously impossible. However, he also noted that U.S. perpetual contract products will differ from existing products, with structures that vary from non-U.S. markets.Wells' remarks come as U.S. regulators are testing how perpetual contracts can enter the U.S. market with several companies. In August, Trump stated that the CFTC is "bringing Hyperliquid to the U.S. in a fully compliant and legal manner." Kraken's parent company, Payward, has announced plans to launch Hyperliquid's HIP-3 perpetual market for eligible U.S. customers through the CFTC-regulated Bitnomial Exchange and NinjaTrader Clearing. Coinbase has also applied to launch single-stock perpetual contracts in the U.S. Earlier this month, Ondo Finance submitted a letter to the SEC and CFTC arguing that U.S. stock perpetual contracts fall under the securities futures category as defined by the Commodity Futures Modernization Act of 2000.Wells indicated that while the U.S. version of perpetual contracts and its market structure may be similar, settlement and clearing would need to change to comply with U.S. regulations. He did not confirm any plans to enter the U.S. market, stating that the team has not "gone too far" in exploring the U.S. market.

The Sun Wukong ecosystem will hold a deep roundtable discussion themed "When Stocks Start to Go On-Chain and AI Begins Trading: Will DeFi Become the Operating System of the Next Generation Digital Economy?" on September 29 at 8 PM at X Space.This event will focus on how RWA brings real assets on-chain, as well as the industry trend of AI Agents transitioning from "providing information" to "autonomous decision-making and execution." It will explore the changing role of DeFi when on-chain finance serves both "humans" and "machines." Special invited industry KOLs will analyze the evolutionary path from humans actively invoking protocols to Agents holding wallets, autonomously seeking liquidity, and executing trades. They will assess whether the existing liquidity and trading infrastructure can support the next stage of a more automated on-chain economy and will dissect the operational logic of the next generation of on-chain finance at the intersection of RWA, AI Agents, and DeFi.

The founder of the general-purpose intelligent agent Manus, Xiao Hong, stated that when Manus was born, Codex and Claude Cowork had not yet appeared in the market, and the product positioning has always been a general-purpose intelligent agent. He likened Manus to a computer-selling business, believing that users may primarily purchase computers for work, but if they cannot watch videos or play games, the experience will be quite limited; therefore, it should not be confined to office tasks.Xiao Hong indicated that videos and games are important scenarios for unleashing creativity, which need to be perfected through the local client Manus Studio. The related videos for Cue are entirely produced by Manus Studio, without using video generation models; instead, the agent first writes the code, which is then converted into video. With the help of cloud computers, Manus can also create online games that support user participation with friends.In terms of infrastructure, Manus cloud computers can provide cloud-based Linux, Mac, and Windows environments. Xiao Hong stated that when the agent operates the computer in the cloud, it will not compete with the user for the local mouse cursor, and he anticipates that individuals will be able to control large-scale computing clusters in the future to satisfy curiosity and conduct experiments and explorations in fields such as mathematics and science. He also described Cue as having an independent phone number, email, payment capability, computer, and sufficient intelligence, and stated that if such agents could be regarded as humans, there might be more changes in upper-level interactions. Xiao Hong mentioned that building product experiences in an overseas open ecosystem is relatively easier, and Manus is actively preparing a domestic version.

Aave founder and CEO Stani Kulechov tweeted that he measures Aave's potential market by the range of assets that can be used as collateral; the more types of collateral assets there are, the greater the lending market opportunities.He stated that Aave started with crypto assets and then expanded into securities through tokenized stocks on Coinbase and Horizon RWA, and in the future will further cover assets such as solar energy, batteries, GPUs, robotics, and space infrastructure. He categorized the last type of assets, such as solar energy, batteries, and GPUs, as abundant assets.

Iranian Foreign Minister Mohammad Javad Zarif stated on Sunday local time that the reopening of the Strait of Hormuz depends on whether the U.S. meets the conditions set by Iran, and he mentioned that resolving the current deadlock through negotiation is still feasible. Iran previously proposed conditions such as stopping U.S. aggression, ending maritime blockades and economic warfare, and releasing Iranian assets. U.S. President Donald Trump stated on Saturday that he had rejected Iran's latest conditional proposal, and the Wall Street Journal cited U.S. officials saying that Trump is expected to resume bombing Iran after the midterm elections in November.Meanwhile, the Iranian Islamic Revolutionary Guard Corps Navy claimed on Sunday that it captured a U.S. Remus 600 unmanned underwater vehicle in the Strait of Hormuz and stated that it has handed it over to relevant personnel for data extraction. The U.S. Central Command has not immediately commented on this. Due to the conflict between Iran and the U.S., energy transportation in the Middle East has been severely restricted, with WTI crude oil closing this week at $92.41 per barrel, down 7.9% for the week; Brent crude oil closed at $104.32 per barrel, remaining basically flat for the week.

Analysis released by a16z crypto on September 23 shows that the total transaction volume of real-world asset perpetual contracts in August 2026 is $11.73 billion, with on-chain platform transaction volume accounting for about $10.1 billion, or 86%; centralized exchange transaction volume is about $16 billion, an increase of 44 times compared to the same period last year. A year ago, the on-chain platform transaction share was only one-third or lower.As of the end of August, the open interest size is $4.8 billion, expanding about 30 times from $161 million in July 2025. In terms of transaction volume, stocks account for 48%, commodities for 28%, and indices for 18%, indicating a shift in transaction structure from being commodity-dominated previously. a16z states that the HIP-3 protocol launched by Hyperliquid in October 2025 simplifies the creation of new perpetual markets and enhances liquidity sharing.

According to three informed sources, the real-world asset tokenization platform Ondo Finance was recommended to potential buyers after founder and CEO Nathan Allman passed away this year. Two sources stated that the relevant contacts occurred after Allman died on May 25. However, it remains unclear who is driving the sale of Ondo Finance.In early August, Allman's estate management filed a lawsuit against Ondo's acting CEO Ian De Bode, accusing him of illegally seizing control and funds of the company, leading to a fierce battle for corporate control. Allman, who died at the age of 32 without a will, left uncertainty regarding the ownership of his controlling shares and a large number of ONDO tokens. After the probate process, his estate was awarded to his parents, Kathleen Allman (77) and Lawrence Allman (82). According to the current court order, De Bode continues to serve as CEO and is responsible for daily operations, but he is not allowed to make significant changes to the company until the control dispute is resolved. One informed source stated that the escalating control litigation is likely to put any sale plans on hold.An Ondo spokesperson denied that the company was seeking buyers, stating that the claims regarding a potential sale are completely false, and that no one in the company has pushed for a sale, participated in sale negotiations, or requested others to do so on their behalf. Ondo was founded in 2021 by former Goldman Sachs executives, is headquartered in New York, and offers tokenized U.S. Treasury bonds and stocks, with product scale exceeding $3.8 billion.

According to Catcher Predict monitoring on-chain data, it predicts significant capital movements in the market Polymarket. A large whale invested $53,963.85 in "Norway vs Denmark" event, specifically targeting "Norway." Based on the current transaction price, the latest corresponding winning probability for this subject is 62%.

Bitwise announced the launch of the Bitwise Premium+ RWA Vault (PPLUS) on the Ember Protocol. PPLUS holds a curated portfolio of real-world assets (RWA) and employs a leveraged strategy, targeting a net yield of over 10%.Its assets include PST from Huma Finance, sUSDai from USDai, and PRIME from HastraFi, corresponding to cross-border payment financing, AI GPU loans, and tokenized debt secured by high-quality residential equity, respectively.It is reported that Bitwise is responsible for the strategy design of assets, positions, and leverage parameters, while Ember is responsible for vault operations and trade execution. PPLUS is open only to non-U.S. persons, and Bitwise warns that the vault involves leveraged credit strategies, and deposited assets may face the risk of partial or total loss.

According to CoinDesk, digital asset investment firm RockawayX announced an investment of $150 million to launch the Catapult program, aimed at bringing more private credit and other yield-generating real-world assets on-chain, betting that lending linked to the real economy will become one of the largest markets in the crypto space.The investment firm, which manages approximately $2 billion, stated that Catapult will provide venture capital, product structuring, liquidity, market making, and distribution support for tokenized credit products. RockawayX currently operates early-stage venture funds, market-neutral funds providing liquidity to DeFi protocols, and a vault business deploying about $300 million, and acquired the crypto hedge fund Relayer in August.According to RWA.xyz data, the scale of tokenized real-world assets such as bonds, stocks, and funds has rapidly grown to approximately $38 billion, but more than half of this is tokenized money market funds. RockawayX expects this market to reach $10 trillion to $20 trillion by 2030, a target higher than the $5.5 trillion benchmark forecast provided by Citigroup analysts. Catapult will focus on areas such as trade and supply chain finance, asset-backed securities, CLOs, and real estate-related credit.RockawayX CEO Viktor Fischer stated that following transactions, yields will become the largest application scenario on-chain, requiring new yield sources of over 12% that are uncorrelated with the crypto market. He pointed out that the appeal of bringing low-liquidity assets on-chain lies in the fact that even if the underlying investments have long redemption periods, market makers can create exit channels.

According to data from RWA.xyz, the current tokenized stock protocols exhibit diverse characteristics in terms of asset management scale and the richness of underlying assets.In terms of asset management scale, the top five platforms are Ondo (approximately $882 million), bStocks (approximately $754 million), xStocks (approximately $576 million), Securitize (approximately $424 million), and Bitget's RWA protocol Reality (approximately $162 million).Additionally, in terms of the breadth of underlying assets covered, Reality currently supports 2,160 stocks and ETFs, making it the protocol with the most underlying assets in this sector. xStocks and Dinari follow with 1,028 and 692 underlying assets, respectively.

According to the official announcement, Bitget has launched 462 stock spot rTokens including rGPRO (GoPro), rHSAI (Hesai), rBRZE (Braze), rALRM (Alarm.com), and rZLAB (Zai Ding Pharmaceutical), covering multiple fields such as information technology, healthcare, and utilities. As of now, the Bitget platform supports a total of 2,601 rTokens.It is reported that rTokens, identified by the letter r + stock code (for example, rNVDA for NVIDIA), are issued by Reality, a licensed RWA protocol under Bitget, and are directly connected to global liquidity pools such as Nasdaq and the New York Stock Exchange through cooperation with the compliant brokerage Alpaca. Their features include: 1:1 reserves of underlying assets held by licensed custodians, stock dividends distributed in token form 1:1, support for corporate actions (such as stock splits and consolidations) mapped in real-time, and positions can serve as joint collateral for unified accounts and U-based contracts, allowing users to flexibly manage funds while holding global stock assets.

According to BBX data, yesterday global publicly listed companies in the U.S. stock market announced their latest accounts regarding digital asset treasury allocation, targeted private placements, and stock repurchases at a discount. The core updates are as follows:Galaxy Digital (TSX: GLXY) invested $100 million to purchase sUSDS and increased its holdings in SKY tokens: The well-known cryptocurrency financial services firm Galaxy Digital announced that it has utilized $100 million of its own funds to officially incorporate the interest-bearing stablecoin sUSDS from Sky Protocol into its corporate treasury. At the same time, Galaxy has approved sUSDS as compliant collateral for its institutional trading business, allowing institutional clients to apply for loans by pledging sUSDS while continuing to enjoy Sky's savings interest rate benefits. Additionally, Greg Feibus, the global head of capital markets at Sky Frontier Foundation, confirmed that Galaxy also purchased an undisclosed amount of SKY tokens. The two parties have established a new tripartite lending arrangement and are discussing expanding the existing $500 million warehouse financing limit.Forward Industries (NASDAQ: $FWDI) plans to raise $25 million through a registered direct offering, fully allocated to increase its holdings in SOL: The publicly listed company Forward Industries, which is part of the Solana treasury, announced that it has signed a securities purchase agreement with institutional investors to sell 3.125 million shares of common stock at a price of $8 per share through a registered direct issuance, raising a total of approximately $25 million (expected to complete settlement around September 24). A.G.P./Alliance Global Partners is acting as the exclusive placement agent. Forward Industries clearly stated that the net proceeds from this offering will be fully used to increase its holdings in SOL in the secondary market, to expand its SOL treasury size and enhance the per-share fully diluted SOL content.Silvia (formerly ProCap Financial, NASDAQ: $SVIA) reduced its holdings by repurchasing 124 BTC, bringing total holdings down to 5,130 BTC: The Nasdaq-listed company Silvia, under cryptocurrency entrepreneur Anthony Pompliano, announced that since September 15, it has repurchased an additional 2.3% of its circulating common stock at a market discount below net asset value (NAV). Since the repurchase program began, the cumulative repurchase ratio has reached approximately 14.5%. As of the market close on September 22, the company's circulating shares have been reduced to 82,881,223 shares, with the treasury holding approximately 5,130 BTC (a decrease of about 124 BTC from approximately 5,254 BTC on September 15), and the NAV per share is approximately $4.27. The company reiterated its firm commitment to selling some assets to repurchase shares until the secondary market trading price is no longer below NAV.

The venture capital firm a16z crypto stated that the trading of perpetual contracts linked to stocks, gold, and other traditional assets has rapidly increased, with more transactions occurring on-chain. In August 2026, the transaction volume reached $117.3 billion, up 44 times from a year earlier, with open interest at $4.8 billion. After a decline in transaction volume in April 2026, it hit a new high again in May, rising to $145.1 billion in July, before falling back to $117.3 billion in August.Open interest increased from $161 million in July 2025 to $4.8 billion in August 2026, nearly a 30-fold increase, remaining close to record highs even as transaction volumes declined. As of November 2025, centralized exchanges accounted for about two-thirds or more of monthly transaction volumes, with December nearly evenly split with on-chain venues; in August 2026, on-chain venues accounted for 86%, approximately $101 billion, while centralized exchanges accounted for about $16 billion, with their transaction volume declining from a peak in March to July.The decentralized perpetual contract platform Hyperliquid launched HIP-3 in October 2025, allowing developers to deploy their own perpetual contract markets using the shared trading infrastructure HyperCore. That month, the on-chain RWA perpetual transaction volume increased to about $4 billion, with on-chain venues accounting for nearly half of the tracked transaction volume in December. A year ago, commodities accounted for 84%, while in August this year, stocks accounted for 48%, commodities for 28%, and indices for 18%. In June, the open interest for stocks was $1.6 billion, surpassing commodities at $1.2 billion, and in August, they were $2.2 billion and $1.6 billion, respectively.

The digital credit protocol Apyx announced on September 23 that the TGE of the governance token APYX has been postponed to after the originally scheduled date of October 13, 2026, when rewards were planned to be distributed to Season 1 and Season 2 participants. The reasons for the delay are twofold: the core reserve asset STRC has experienced the deepest and longest drawdown in its brief history, the protocol has not been interrupted, and the Chainlink on-chain NAV, proof cadence, minting, and redemption are still operating under existing terms, but the volatility of digital credit exceeds the range shown by its short history, requiring more time to address; multiple institutions have proactively reached out, hoping to use their infrastructure to bring their assets on-chain.The additional time will be used to strengthen the core protocol and to build a broader RWA platform V1 before the TGE. Digital credit remains the reserve anchor and source of yield for apyUSD, with custody, proof, on-chain NAV, redemption, and compliance frameworks being opened to other issuers and asset types. Apyx stated that the zero-fee, instant redemption, government bond-backed aptUSD has been launched, making it the first asset in the ecosystem not derived from digital credit. The Pips plan will continue, and Season 2 will no longer end on the originally scheduled date of October 11; the accumulation under the existing multiplier will remain uninterrupted, and positions, commitments, Curve and Pendle positions, and lending positions will continue to score without any action required.Due to the extended accumulation period, the airdrop allocation for Season 2 has increased from 6% of the total supply to 9%. The new end date will be confirmed along with the new TGE date, and it will not end without prior notice. The allocations for Season 1 and Season 2 will still be fully unlocked at the TGE.

According to GlobeNewswire, Nasdaq-listed Solana treasury company Forward Industries announced that it has signed a securities purchase agreement with an institutional investor to issue 3.125 million shares of common stock at a price of $8 per share, with total fundraising expected to be approximately $25 million. This issuance is expected to be completed around September 24.Forward Industries stated that the net proceeds from the fundraising, after deducting related expenses, will be used to purchase more SOL to expand the size of the SOL treasury, while also increasing the number of SOL corresponding to each fully diluted share. A.G.P./Alliance Global Partners is acting as the sole placement agent for this issuance.

The Hong Kong Securities and Futures Commission announced the implementation of the strategic action plan for the first five-year plan, which will shortly introduce a new licensing system for digital assets, and implement digital asset custody supervision, CrypTech market supervision, and anti-money laundering capability building.In the medium to long term, it will develop a regulatory framework for tokenized investment products as needed, covering tokenized gold and other real-world assets. The agency will also support the Hong Kong Special Administrative Region government in establishing a central clearing and settlement system for gold, and developing gold and commodity products priced in Renminbi.