🚀 Goldman Sachs will launch 3 Tokenisation Projects by end of 2024

Sunday is here.

Welcome back to another newsletter from us at The Merge.

• ⚱️ Goldman Sachs will launch 3 Tokenisation Projects by the end of 2024

• 👾 MakerDAO is to invest $1B in tokenised U.S Treasuries

• ⏳ SEC charges against Paxos’ stablecoin ‘BUSD’ dropped

Read Time: 7 Minutes

Global Market Overview

Real World Assets on-chain (excl stablecoins) are worth $12.94b (↑6.55% from last month).

There are 60,384 Total Asset Holders (3.74% from last month).

• $159.5b is in Stablecoins

• $8.39b is within Private Credit

• $1.86b is in US Treasury Debt

• $873.33m is in tokenised Commodities

• $21.84m is in Global Bonds

• $4.44m is in tokenised Stocks

The top 3 networks are 🥇Ethereum ($89.68b in Total Value Locked) 🥈Tron ($60.67b in TVL) & 🥉Binance Smart Chain ($5b in TVL).

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

So, what’s being tokenised this week?

US Treasuries

Currently, the Total Value of Tokenised Treasuries is $1.86b (↑3.07% from last month).

The Average Yield to Maturity is 4.95% with 0.118 years in Weighted Average Maturity. There is a total of 5,192 Holders (↓0.98% from last week).

The top 3 current entities are 🥇 Securitize ($524.87m)🥈 Ondo ($497.33m) & 🥉 Franklin Templeton Benji Investments ($417.47m)

Top stories this week?

🚀 According to Leo Schwartz from Fortune, Matthew McDermott who is global head of digital assets at Goldman Sachs says that they intend to expand its crypto offerings in the ‘red-hot sector of tokenization". They’re set to launch three tokenisation projects by the end of the year with major clients, including its first in the U.S.

👾 MakerDAO, the crypto lending platform and protocol behind the $5 billion stablecoin $DAI has plans to invest $1 billion of its reserves in tokenised U.S. Treasury products. Applications are due to open on August 12th with top players in the space like Blackrock’s BUIDL, Superstate and Ondo Finance eager to join the line for a proposal.

Private Credit

Currently, there is $8.39b in active value loans & $13.22b total loan value across all protocols.

As of today, the top 3 current protocols with outstanding loans are🥇Figure ($7.7b) 🥈Centrifuge ($286m) & 🥉Maple Finance ($171m).

Top stories this week?

🍁 Syrup.fi, the little brother to Maple Finance launches tomorrow - bringing with it real-world, sustainable and institutional yield to DeFi. Where Syrup differs is that as a new protocol, it combines Maples's pre-existing lending infrastructure strengths with permissionless access for anyone to secure institutional lending. It’s RWA x DeFi combined 💪🏽

If you’re interested you can find out some more here.

Stablecoins

Currently, the market cap of stablecoins is $159.5b (↓0.12% from last month.)

As of today, it makes up 0.76% of all M2 Money Supply (↓0.12% from last month) with Monthly Transfer Volume totalling $980 billion (↓65.46% from last month).

The top 3 current entities are 🥇Tether ($111.9b)🥈Circle ($30.6) &🥉Maker DAO ($5.03b).

Top stories this week?

⚱️ More than a year since the SEC served a Wells Notice to Paxos (a letter signalling impending enforcement action) over the dollar-backed BUSD stablecoin that was issued in partnership with Binance in 2019 - the charges have been dropped.

This comes just days after the SEC suffered a partial defeat in a lawsuit against Binance - a huge win for the stablecoin sector!

Commodities

Currently, the market cap of commodities is $873.33m (↑4.03% from last month).

As of today, the Monthly Transfer Volume totals $172.12m (↑28.48% from last month) with 55.19k addresses that are current holders.

The top 3 current entities are 🥇Paxos ($442.1m)🥈Tether ($402.9m) &🥉Aurus ($17.85m).

Bonds

Currently, the total value of bonds is $21.84m (↑0.33% from last week).

As of today, the Average Yield to Maturity is 5.6% with 0.71 years in Weighted Average Maturity. There is a total of 141 Holders (↓89.36% from last week).

The top 2 current entities are 🥇Backed Finance ($20.53m)🥈OpenTrade ($1.31m).

Stocks

Currently, the total value of stocks is $4.44m (↓8.17% from last month).

As of today, the Monthly Transfer Volume totals $245.59k (↓43.47% from last month) with 80 Active Addresses and 671 Current Holders.

The top 3 current entities are 🥇Coinbase Global ($2.89m)🥈iShares Core S&P 500 ($1.08m &🥉Microstrategy ($100k).

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) 

🦇 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)

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