tokenization

The tokenized asset platform Ondo announced on platform X that its total locked value has reached 4 billion dollars. Ondo stated that its products have expanded from tokenized U.S. Treasury bonds to tokenized stocks, ETFs, portfolios, and private markets.Ondo disclosed that the scale of tokenized stocks and ETFs exceeds 1.3 billion dollars, with a cumulative number of holders exceeding 1 million, claiming to be the platform with the largest scale of tokenized U.S. Treasury bonds.Ondo stated that the related growth is associated with Ondo Stocks accessing liquidity from traditional financial exchanges through RFQ, with leading wallets and applications making this liquidity accessible, allowing assets to be transferred permissionlessly on Solana, Ethereum, and BNB Chain.

According to The Defiant, Hong Kong company L2 Capital has signed a contract to join the tokenization platform Newton, planning to tokenize equity in a pre-IPO artificial intelligence company valued at $500 million. L2 Capital thus becomes the first partner on this platform being built by Newton Labs.The platform is designed to embed compliance rules directly into each token and verify them before each transfer settlement, thereby implementing regulatory requirements in on-chain transactions. Currently, Newton Labs' platform is still under construction, with L2 Capital being the first partner to connect.

Bitwise Chief Investment Officer Matt Hougan stated that the third quarter may be one of the best-performing quarters in cryptocurrency history, with a significant price rebound and continuous growth in the on-chain market, pointing to the beginning of a "crypto spring." The quarterly market review released by Bitwise shows that its large-cap crypto index rose 46.4% in Q3, while the U.S. spot Bitcoin ETF recorded $6 billion in inflows during the same period, bringing the year-to-date net inflow back into positive territory.The growth is not limited to coin prices. The value of tokenized stocks increased by 65.5% to nearly $3.2 billion, and the open interest in decentralized perpetual contracts reached a new high of nearly $26 billion, with the proportion linked to stocks, commodities, foreign exchange, and pre-IPO shares continuously rising. Bitcoin rose 42.3% in Q3, while Ethereum and Solana increased by 69.1% and 59.2%, respectively. All ten constituent assets of the large-cap index recorded double-digit quarterly gains, with Chainlink leading at a 97.6% increase.The rebound did not cover all sectors of the industry. Bitcoin mining companies Riot Platforms and Hut 8 saw their stock prices drop by 26.4% and 25.4% in Q3, respectively, while Galaxy Digital fell by 16.8%; the number of publicly traded companies holding Bitcoin decreased by nearly 6% to 173, and the number of companies holding Ethereum dropped from 40 to 35.

According to CoinDesk, asset management company Federated Hermes, with a management scale of 911 billion dollars, plans to launch its first batch of on-chain fund shares early next year, further participating in Wall Street's push to bring traditional assets on-chain.Federated Hermes has partnered with digital securities infrastructure company Prometheum to introduce blockchain-based fund shares into traditional brokerage accounts and financial advisor channels. The company has not yet disclosed the specific types of tokenized funds and the blockchain network used, but its head of digital asset products and platforms, Kevin Barr, stated that money market funds may become the first tokenized products.

On October 13, as the stock tokenization sector continues to heat up, Feixiaohao, relying on its background as a publicly listed company in the U.S., is collaborating with exchanges to promote stock tokenization services and build the Feixiaohao DAT ecosystem. From structural design, asset custody, on-chain issuance to trading circulation, Feixiaohao aims to bring traditional stocks into the Web3 world.On the user side, Feixiaohao AI makes analysis as simple as chatting. Users can ask questions in natural language and receive multi-dimensional interpretations of tokenized stocks regarding fundamentals, information, and market sentiment, making it easier to understand and participate in this emerging market.

AMC's CEO Adam Aron posted again on the X platform, stating that Robinhood claims to support the new regulations formulated by the U.S. Securities and Exchange Commission regarding the tokenization of U.S. stocks and demands that Robinhood clarify whether its international business will adhere to the same principles proposed by the SEC.Adam Aron stated that if Robinhood's offshore operations in Jersey do not follow the relevant principles, it will become a distortion and mockery of the correct practices required by the SEC. In the original text, he repeatedly stated "shame, shame, shame," questioning Robinhood's refusal to respond directly to the relevant issues.

According to BBX data, yesterday global publicly listed companies in the U.S. stock market and leading investment institutions disclosed the latest developments in digital asset treasury allocation, equity tokenization, and mixed financial innovations in real estate. The core information is as follows:Strategy (NASDAQ: $MSTR) increased its holdings by 250 BTC last week, raising its dollar reserves to $5.5 billion: The world's largest corporate Bitcoin treasury publicly listed company, Strategy, disclosed its latest ledger. Last week, the company increased its holdings by another 250 Bitcoins in the secondary market, while spending $192 million to repurchase its STRC preferred shares. As of October 11, 2026, the total amount of Bitcoin held by Strategy has risen to 848,250 BTC, and the balance of dollar reserves in the balance sheet has increased to $5.5 billion.Zhibao Technology (NASDAQ: $ZBAO) plans to explore stock tokenization and evaluate re-staking 2,380 BTC for liquidity: Nasdaq-listed insurtech company Zhibao Technology announced the signing of a strategic cooperation framework agreement with the liquidity re-staking protocol Bedrock. Both parties will establish a joint working group to explore the tokenization of its Class A common stock registered with the U.S. SEC at the transfer agent level (retaining full voting and dividend rights) and explore integration with compliant DeFi applications; at the same time, Zhibao Technology is evaluating the possibility of putting part of its treasury holdings of 2,380 Bitcoins into Bedrock's uniBTC infrastructure. This agreement is currently non-binding and still needs to go through due diligence, compliance review between China and the U.S., and complete restructuring if necessary, with a formal agreement expected to be signed within the next 12 months.BitMine (NASDAQ: $BMNR) increased its holdings by over 12,000 ETH last week, raising its total holdings to 6.028 million: Nasdaq-listed mining company BitMine disclosed that it increased its holdings by another 12,532 Ethereum last week. As of October 11, 2026, its total Ethereum holdings reached 6,028,946 ETH (approximately 4.9% of the total supply on the network). Currently, BitMine's total asset value is approximately $16.2 billion (including $612 million in cash and securities, 214 Bitcoins, $180 million in Beast Industries equity, and $85 million in Eightco investments). Of these, the staked Ethereum remains at 5,067,309 (accounting for 84% of total holdings), valued at approximately $12.9 billion, with current annualized staking income of about $336 million.DeFi Development (NASDAQ: $DFDV) increased its holdings by over 22,000 SOL last week, bringing total holdings close to 2.59 million: Solana treasury company DeFi Development announced that in the past week, its holdings of SOL and SOL equivalents increased by 22,070. The cumulative holdings on the balance sheet have reached approximately 2,586,282 SOL, continuously promoting on-chain staking and validator node operations.Cardone Capital disclosed a $1 billion mixed real estate and Bitcoin platform, planning to refinance to increase holdings by 500 BTC: Real estate investment firm Cardone Capital's founder Grant Cardone revealed that its mixed investment model in real estate and Bitcoin has attracted about 3,000 investors over the past 18 months, with a cumulative transaction scale of $1 billion. Its first project cost $72 million to acquire property and allocated $17 million in Bitcoin, with the property currently generating about $360,000 in monthly rental cash flow, all of which is used for continuous Bitcoin purchases. The project is planning to refinance the underlying property to use the loan to buy back 500 Bitcoins, which will increase the project's holdings to about 700 Bitcoins. Cardone also revealed that Bitcoin currently accounts for about 20% of his personal investment portfolio.

The International Monetary Fund (IMF) pointed out in Chapter 3 of the October 2026 "Global Financial Stability Report" that as of July 31, excluding repurchase agreements and stablecoins, the scale of tokenized real-world assets reached approximately $65.1 billion, including tokenized credit of $30.4 billion, money market funds of $17.5 billion, and tokenized equities of $2.3 billion.The report indicated that automatic clearing, instant settlement, continuous trading, and programmable collateral could accelerate forced liquidations and amplify financial shocks during market stress. Cross-platform reuse of collateral could also increase leverage, allowing risks to transmit more quickly to different institutions and markets. The IMF identified four obstacles to the expanded application of the tokenized market: legal certainty, regulatory clarity, blockchain network interoperability, and reliable settlement assets, and recommended adopting technology-neutral regulation, strengthening supervision, establishing circuit breakers, and preventing instability in automatic clearing.

According to Bitcoin Magazine, Lorenzo Valente, the Director of Digital Asset Research at Ark Invest, stated in a video interview with Bitcoin Magazine that despite Bitcoin's lackluster performance and even decline this year, Ark Invest has not changed its long-term view, still considering Bitcoin over a five-year cycle and believing its development is still in the early stages. He also introduced Ark's Big Ideas report and discussed Bitcoin's role as digital gold and a permissionless currency.Valente pointed out that the rise of stablecoins has changed Ark's judgment on the emerging market Bitcoin narrative. He also talked about the rise of tokenized stocks and real-world assets, as well as the functionalities that tokenized stocks can achieve that traditional brokerage accounts cannot.Additionally, he mentioned the impact of rising interest rates, inflation, and AI on Bitcoin's macro outlook, and explored which tokenized business models will ultimately prevail, as well as the possibility of tokenizing U.S. assets for offshore markets.Regarding the market outlook, Valente provided Ark's perspective on Bitcoin's future over the next 12 to 18 months and discussed the four-year cycle and key points to watch moving forward. Ark's Big Ideas report set a Bitcoin price target for 2030, and the reasons why institutional funds are still on the sidelines were also among the topics he discussed.

According to CoinDesk, data from Swiss Re shows that natural disasters caused $220 billion in economic losses last year, with insurance covering only $107 billion, while the rest was borne by households, businesses, and governments. Catastrophe bonds allow insurance companies to transfer the financial risks of hurricanes, wildfires, or earthquakes to capital market investors. According to an Artemis report, as of June this year, the outstanding size of the catastrophe bond market reached $65.6 billion, with new issuances in the second quarter amounting to $11.3 billion, setting a record high for a single quarter.Bermuda-based law firm Harneys, which focuses on global insurance business, plans to issue tokenized catastrophe bonds in early next year in collaboration with the tokenization platform dropRWA, with each token representing legal ownership of the catastrophe bonds. This scheme is built on the traditional market, where catastrophe bonds were primarily aimed at specialized funds and large institutions, with many products having a minimum investment amount of $250,000 or more. Both parties are considering structures that can accommodate smaller beneficiary interests, but they still need to comply with securities, insurance, and investor protection regulations.Henry Tucker from Harneys stated that the tokenized structure will not turn disaster coverage into arbitrary retail investments, and the funds will be entirely used to cover specific insurance risks. He pointed out that risks such as flooding and typhoon coverage in Southeast Asia are difficult to insure through traditional reinsurance companies, and specialized underwriters can use the tokenized structure to raise funds for single, specific risks. The World Bank arranged $200 million in hurricane coverage for Jamaica in May.

According to The Block, Morgan Stanley's Digital Assets Strategy Chief Amy Oldenburg stated that by 2030, the market size for tokenized real-world assets (RWA) will reach between $3 trillion and $10 trillion, a prediction that is "undoubtedly" accurate.She pointed out that the growth momentum within the industry is mutually reinforcing, with current institutional investors' attention and enthusiasm for participation in related fields continuing to rise, leading to a noticeable FOMO (fear of missing out) sentiment in the institutional market.Previously, Morgan Stanley anticipated that it would begin supporting tokenized stock trading on its Alternative Trading System (ATS) in the first quarter of 2027, which is a delay from the previously announced plan for the second half of 2026.

Bitget's Head of Greater China, Xie Jiayin, shared his thoughts on attending Token2049 in Singapore on Twitter.First, users are becoming increasingly professional and are starting to redefine products. The demand for options, strategy squares, and other tools that enhance capital efficiency is being proposed by users. For institutions, the improvement in capital efficiency brought about by tokenization is a core demand.Second, the bubble is clearing, and projects are beginning to de-tokenize. They are no longer solely relying on issuing tokens for marketing but are instead creating real value through payment, asset management, and brokerage services.Third, the industry is welcoming a clear regulatory framework, which will inevitably bring short-term pain. In the long run, compliance and institutionalization will drive the industry to mature into a robust financial infrastructure.

Nasdaq-listed company AsiaStrategy (stock code: SORA) announced on October 1 that it has signed a non-binding memorandum of understanding with the institutional asset open financial platform Plume to explore the establishment of a joint venture aimed at investors in Asia and other markets outside the United States, focusing on the structuring, issuance, and distribution of tokenized financial products.According to the memorandum, Plume will provide tokenized infrastructure, technical capabilities, and regulatory qualifications, including registrations and licenses in several jurisdictions; AsiaStrategy and the broader Sora Ventures network will provide project initiation, distribution, and capital market channels for the Asian market, covering Japan, South Korea, Hong Kong, Thailand, and the United Arab Emirates. The two parties plan to first advance products that combine mature asset classes with compliant on-chain distribution, with the product range, structure, and launch sequence still under discussion, and no products have yet been launched or offered to investors.Jason Fang, Chairman and Co-CEO of AsiaStrategy, stated that tokenization will become the default method for the issuance and holding of many financial assets, with Asia leading the way. The company is registered in the Cayman Islands and headquartered in Hong Kong, with its business having expanded from luxury watch trading to Bitcoin vault management, digital asset collateralized lending, and related financing and tokenization initiatives. Plume's flagship protocol, Plume Vaults, opens assets from institutions such as Apollo, WisdomTree, and Hamilton Lane through compliant, non-custodial vaults, with investors including Apollo Global Management, Galaxy Digital, and Brevan Howard.

TruGolf Holdings (TRUG), a publicly traded company on NASDAQ, announced that it has completed the acquisition of the Canadian asset tokenization company Polymath Research Inc. Polymath is a company focused on institutional-grade asset tokenization and is also the developer of the Layer 1 blockchain Polymesh, which is aimed at regulated assets. After the acquisition, Polymath will operate as a wholly-owned subsidiary of TruGolf, while TruGolf will continue to retain its original businesses such as golf simulators and the E6 platform, forming two business lines: golf technology and blockchain infrastructure.As of December 31, 2025, Polymath has issued tokenized assets worth over $132 million for more than 65 active issuers and has over 50 ecosystem partners. The two parties also plan to launch a device leasing tokenization and franchise rights fragmentation holding project in the first quarter of 2027. In addition, TruGolf received approximately $2.95 million in net proceeds from the exercise of B-round preferred stock warrants related to this transaction.

Global investment management firm Franklin Templeton and digital asset and artificial intelligence company Animoca Brands announced a strategic partnership to integrate tokenized physical assets into the vault market NUVA Finance, supported by Animoca Brands. The collaboration will expand NUVA's coverage from existing Provenance blockchain assets to institutional-grade assets from more asset issuers and explore the joint design and tokenization of cultural physical assets.NUVA was co-incubated by Animoca Brands and Nuva Labs and is set to launch in May 2026, with its vault capable of accessing assets on the Provenance blockchain. As of September 24, 2026, the total locked value of physical assets on that chain exceeds $30 billion. The two parties also launched a joint research series consisting of four parts, covering the significance of tokenization for institutional investors, progress in driving market development, and changes in how institutions assess assets and build portfolios.Animoca Brands co-founder and executive chairman Yat Siu: This collaboration will integrate institutional-grade physical assets into NUVA's vault architecture, combining asset management with decentralized distribution channels. Franklin Templeton's Head of Digital Assets and Innovation Sandy Kaul: The focus of the next phase is to expand access to and use of relevant assets and incorporate them into the digital investment ecosystem. As of August 31, 2026, Franklin Templeton manages assets totaling $18.3 trillion, and both parties expect to announce more details about the cultural asset collaboration later this year.

Adena Friedman, CEO of Nasdaq, stated at the TOKEN 2049 conference in Singapore that tokenizing government bonds, stocks, money market funds, and funds can enhance collateral liquidity and unlock billions of dollars of trapped capital in the global financial system. Over the past year, institutional interest in tokenization has significantly increased, partly due to the U.S. GENIUS Act establishing a regulatory framework for stablecoins.She mentioned that institutional interest is converging with retail demand for around-the-clock trading. The retail ecosystem is about 10 years ahead, but moving towards a fully 7×24 hour market is a massive undertaking for the financial industry, requiring continuous real-time risk and collateral management. She also pointed out that AI is crucial for 7×24 hour trading, and Nasdaq has launched digital agents on its risk management platform, initially providing recommendations, with banks able to take more direct actions in the future. Arjun Sethi, co-CEO of Kraken, stated that companies outside the U.S. are also very interested in tokenization and entering the U.S. capital markets, including a company with approximately $25 million in revenue and larger international firms. Friedman cautioned that not all assets have sufficient liquidity to support a 7×24 hour trading environment.

The tokenized asset platform Securitize announced the launch of Securitize Stocks, providing on-chain trading access to a portion of U.S. stocks for qualified investors in the U.S., EU, and other approved jurisdictions. The first batch of underlying assets includes securities corresponding to AAPL, MSFT, NVDA, GOOG, TSLA, META, AMZN, NFLX, CRCL, SPCX, MSTR, and PLTR, initially traded on Solana through its registered broker-dealer and settled in USDC.Securitize stated that each token is backed 1:1 by the underlying shares and represents a security interest under Section 8 of the U.S. Uniform Commercial Code, retaining dividends and voting rights where applicable, and the shares supporting the tokens will not be lent out. The product adopts a convertible equity token structure, allowing investors to convert their security interests into shares registered on the issuer's transfer agent's roster after the issuer-led tokenization is advanced. Secondary market trading is provided in a regulated manner through its broker-dealer, without relying on exemptions, and is consistent with the U.S. Securities and Exchange Commission's guidelines on tokenized securities.The product is also expected to trade in the 24/7 digital trading venue being developed by the New York Stock Exchange, as well as in the tokenized securities trading venue OKXICE, in collaboration with Intercontinental Exchange, depending on the venue's launch and related regulatory and operational requirements. Upon launch, Jump Trading will act as the market maker through Securitize's existing Solana PropAMM; the initial trading period will cover extended hours, with plans to gradually expand to all-day trading. Ripple Prime plans to support the product launch.

According to NADA NEWS, the Japanese Ministry of Finance held the first meeting of the "National Debt Blockchain Research Committee" today and released explanatory materials, categorizing national debt on the blockchain into three types. Type 1 involves circulating the beneficial rights of funds (MMF) investing in national debt on the blockchain; Type 2 involves placing the transfer ledger on the blockchain under the current transfer settlement system, divided into three forms: single account management institutions, multi-institution collaboration, and interfacing with the Bank of Japan's ledger; Type 3 involves issuing a new form of national debt on the blockchain outside the current system.The Ministry of Finance believes that blockchain can enhance the efficiency of collateral and liquidity management and expand the investor base, particularly benefiting overseas investors. However, it also pointed out issues such as market fragmentation, transmission of severe price volatility, and system transformation costs. All three types are provisional categorizations, and the Ministry of Finance plans to compile a report before January 2027.

According to Cointelegraph, Matthew Horne, Head of Digital Asset Strategy at Fidelity Investments, stated during a panel discussion at the Longitude conference in Singapore that there is "truly no turning back" as institutional forces have driven assets towards an on-chain future over the past 18 months. He pointed out that tokenization brings structural advantages to financial institutions and helps asset management companies reach new markets, with U.S. asset management companies particularly motivated to move assets on-chain.Ka Yan Chan, Head of Digital Asset Development at UBS, mentioned that government bonds and stocks, as core assets for portfolio construction, could bring billions of dollars on-chain. She believes that what will truly drive the scale from hundreds of billions to trillions will be market infrastructure participants like the Federal Reserve or DTCC taking the lead in transforming the custody layer into a tokenized platform, upon which industry participants can build a distribution layer.Data shows that demand for tokenized assets has increased by 41% in the past 30 days, with the number of holders surpassing 493,000. In December 2025, the SEC issued a "no-action" letter to a DTCC subsidiary, allowing it to provide new tokenization services for the securities market; in September, the SEC approved a temporary exemption allowing tokenized U.S. stocks to be traded on specific on-chain venues. Over the past 30 days, more than $1.2 billion has moved on-chain, with the total amount of stablecoins and tokenized assets exceeding $323 billion. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, predicted in August that tokenized real-world assets could reach $4 trillion by the end of 2028.