🤝 Coinbase & Stripe Team Up

Sunday is here.

Welcome back to another newsletter from us at The Merge.

• 🌟 Coinbase and Stripe partnership

  📈 Mckinsey reports tokenisation industry can hit $3.8t by 2030

• 🪙 New ERC-7540 standard created specifically for RWA’s

Read Time: 8 Minutes

Global Market Overview

Currently, Real World Assets on-chain (excl stablecoins) are worth $10.83b (↑8.22% from last month).

There are 59,842 Total Asset Holders (↑4.35% from last month).

$8.2b is within Private Credit, $1.7b is in US Treasury Debt and $847m is in tokenised Commodities.

The top 3 networks are 🥇Ethereum (90.54b in Total Value Locked) 🥈Tron (60.55b in TVL) & 🥉Binance Smart Chain (4.99b in TVL).

Fancy taking a look for yourself? Check it out here.

So, what’s being tokenised this week?

Private Credit

There are $8.27b in active value loans & $12.76b total loan value across all protocols with 1,908 total loans.

As of today, the top 3 current protocols with outstanding loans are🥇Figure ($7.65b)🥈Centrifuge ($286m) &🥉Maple Finance ($171m).

Top stories this week?

🪄Centrifuge alongside Joey Santoro, Vik Runa and smart contract leads at Maple Finance has created a new ERC-7540 standard. An extension of ERC-4626 it adds additional functionality to submit requests for investments, enhancing the efficiency of yield earning in RWAs. See more from our post on Twitter here.

🌟 Angle Protocol is a decentralised stablecoin protocol behind USDA (providing liquidity for on-chain USDC) offering passive yield returns to users by holding stUSD (every second!).

This is generated by assets held by Angle such as Treasury bills and tokenised securities. They have recently launched on the Base & Arbitrum chains.

🏦 Mckinsey, the global management consulting firm released a report “From ripples to waves: The transformational power of tokenizing assets” signalling that tokenisation is moving to a point where deployment will occur at scale.

They predicted that financial institutions with blockchain capabilities in place would have a strategic advantage, and the industry could be worth up to $3.8 trillion.

For more read the full report here.

Stablecoins

Currently, the market cap of stablecoins is $159.2b (↓0.16% from last month.)

It makes up 0.76% of all M2 Money Supply (↓0.16% from last month) with Monthly Transfer Volume totalling $1.71 trillion (↓37.67% from last month).

The top 3 current entities are 🥇Tether ($112.1b)🥈Circle ($29.2b) &🥉Maker DAO ($4.99b).

Top stories this week?

🎯 Stripe x Coinbase officially announced their partnership going live on Thursday and how it will bring a faster, cheaper financial infrastructure to millions of businesses worldwide.

Stripe adds USDC on Base to their F2C onramp to enable customers in the US to convert fiat to crypto faster; whilst Coinbase is adding Stripe’s F2C onramp to Coinbase Wallet to allow people to buy crypto instantly with credit cards and Apple Pay.

ON CHAIN SUMMER IS HERE.

Commodities

Currently, the market cap of stablecoins is $847m (↑0.32% from last month).

As of today, the Monthly Transfer Volume totals $168.5m (↑22.39% from last month) with 54.8k addresses that are current holders.

The top 3 current entities are 🥇Paxos ($431.4m)🥈Tether ($388.7m) &🥉Aurus ($17.9m).

Weekly Resource List

🌐 RWA.xyz: On-Chain RWA Analytics - NEW

Explore tokenised real-world assets and the investors, issuers and service providers participating in public blockchains. View protocol statistics, industry aggregate metrics, and the issuers all in one place (link)

🔎 Santiment: Crypto Intelligence Tool - NEW

A behaviour analytics platform for crypto, sourcing on-chain, social and development information on thousands of coins, including market signals. For RWA’s insights check out this (link) 

🔐 Coinbase Wallet: All-in-one easy-to-use crypto wallet - NEW

You’ve more than likely heard and probably used Coinbase, so no introduction is needed. This is by far one of the easiest and non-crypto native wallets to be picked up and used by anyone. They even have a ‘Simple Mode’ for beginners. (link) 

🔭 DeBank: Web3 Portfolio Tracker

When it’s difficult to keep track of what’s where - just sync up any of your wallets and see within seconds where things are. This new gem of a tool we stumbled across gives you a holistic overview of all your holdings across multiple blockchains in one place (link)

👻 Phantom Wallet: Multi-Chain Crypto Wallet

Becoming a favourite wallet to use across crypto. An easy-to-navigate cross-chain compatible wallet (you can use it for SOL & ETH etc) with a user interface that beats most of the competition out of the ballpark (link)

🦇 Arkham Insights: Smart Money Insights

An investment tool if you want to understand where ‘Smart Money’ (aka the market makers) are placing their bets then make sure to check it out (link) 

🦎 CoinGecko: Crypto Data and Analysis Platform

Keep up to date with prices, trading volumes, and crucial crypto data (link)

Other Industry News

Want to stay on the cutting edge?

Here’s what else is happening in crypto you should know about:

🧑🏽‍⚖️ SEC sues Consensys over Metamask staking

According to coindesk.com the U.S. SEC sued Consensys on Friday, the parent company of Metamask alleging that its swaps and staking products violated federal securities laws. The agency also targeted Ethereum staking services Lido and Rocket Pool, referring to their popular stETH and rETH tokens as unregistered securities.

The SEC has already lost out to the likes of Coinbase and Ripple this year in court as well as Ethereum for its 2.0 upgrade. These guys are just continuing to go further and further downhill as regulatory body.

🟣 21 Shares Files for Solana ETF

21shares filed an S-1 application with the SEC for a spot in Solana ETF on June 28th earlier this week, says Cointelegraph. This is the second spot SOL ETF the SEC will have received, following VanEck’s filling on June 27th just a day prior.

Coinbase will serve as the custodian for the fund’s Solana holdings, which will be insured privately. This is huge because approval for a SOL ETF truly helps solidify Solana as an ecosystem and infrastructure that traditional finance people can invest in and be a part of. With it being the highest in transaction volume across all of the public blockchains in 2024 - Solana is going nowhere.

🥂 Julian Assange is Free!

Wikileaks founder Julian Assange, best known for the publication of classified military and diplomatic cables in 2010 and subsequently imprisoned in Belmarsh prison for 62 months was released this week.

Freed on the grounds that he leave the U.S. commonwealth back to his home country Australia, an anonymous donator paid 8 bitcoin for a private jet to be chartered for him to cover his flight home.

Bitcoiners have long advocated for his release and they’ve finally got it.

Tweet of the Week

‘The Power of Stablecoins’

@abruzuc explains how it works in such cases as her home country Argentina below:

“You send USDT (more normal than USDC) and a guy in a motorcycle will come to your apartment with the dollars in cash […]. tell me how stablecoins and payments on-chain isn’t the most valuable use case in this industry”

It’s necessary to get a better understanding of real-world cases for the use of stablecoins, especially in countries that suffer the plight of hyperinflation and have central banks printing money like it’s going out of fashion.

Stablecoins are solving real issues for people all across the world, offering access to the ‘safety’ of digital USD where it previously wasn’t possible.

That’s it!

As always, thanks for reading.

Hit reply and let us know what you found most helpful this week —we’d love to hear from you!

See you next Sunday,

Merge