use cases

Galaxy Report: ETH Dominates Enterprise Blockchain Adoption with Use Cases like NFT and RWA Tokenization

ChainCatcher news, according to Bitcoin.com, based on a report by Galaxy Digital's Vice President of Research Christine Kim, over 50 traditional companies, including financial institutions like Deutsche Bank and Paypal, as well as brands like Louis Vuitton and Adidas, are developing cryptocurrency-specific applications on Ethereum and its L2 networks, focusing on non-speculative use cases such as RWA tokenization, NFTs, Web3 gaming, and scalable infrastructure.The report states that Ethereum is leading in RWA tokenization, with the value of managed assets nearly 10 times that of Stellar. Among 20 financial institutions building crypto infrastructure, 13 are issuing RWA, including BlackRock's BUIDL. Stablecoins are also thriving on Ethereum, with Paypal's PYUSD and Robinhood's USDG driving a 70% supply surge in 2024, while Ethereum holds over 50% of the $400 billion stablecoin market.Investment in scalable infrastructure emphasizes enterprise adoption. Deutsche Bank is developing a compliant financial solution on Ethereum L2 with ZKSync, while Sony's L2 project Soneium targets gaming and entertainment. These projects highlight Ethereum's role as a customizable foundation for enterprise-grade blockchain.Additionally, the centralized roadmap for Ethereum L2 balances scalability and security, attracting institutions seeking effective on-chain solutions. Regulatory tailwinds, including the SEC's focus on tokenization and collaborations like Stripe's $1 billion acquisition of stablecoin platform Bridge, indicate increasing mainstream adoption.Galaxy's report concludes that Ethereum remains the preferred chain for finance-focused crypto services, with RWA and stablecoins expected to expand by 2025. Kim noted, "As the most decentralized, widely covered, and longest-running general-purpose blockchain, Ethereum serves as a gateway for many institutions to incubate and launch finance-focused crypto services and products."

Chairman of the Hong Kong Securities and Futures Commission: The market value of the first batch of virtual asset ETFs has exceeded 300 million USD, and more tokenization use cases will be explored

ChainCatcher news, according to the Hong Kong Radio website, the chairman of the Hong Kong Securities and Futures Commission, Leung Tin-leung, stated during a speech at an event today that the first batch of virtual asset spot exchange-traded funds (ETFs) in Hong Kong has been operating smoothly since its listing in April, with a current market value exceeding 300 million USD. With the launch of the first Asian virtual asset futures ETF product, retail investors can manage related risks, and it is believed that innovative products can drive the Hong Kong financial market forward.Leung emphasized that as a financial center, Hong Kong needs to continue enhancing its resilience through innovative technology and sustainable finance. He also noted the potential advantages of blockchain technology, such as reducing transaction costs, with asset and securities tokenization being one of the main use cases. Currently, there is close collaboration with the Hong Kong Monetary Authority to explore more different tokenization use cases, with the hope of establishing a related ecosystem. Leung also reminded that virtual assets carry significant volatility risks and should not be considered investment advice. However, as professional and retail investors have different risk appetites and invest in virtual assets through various channels, the Hong Kong Securities and Futures Commission decided to introduce a regulatory framework to govern the activities of related trading platforms.
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