💥 Ripple's Stablecoin RLUSD Poised for New York Financial Markets Approval

Sunday is here.

Welcome back to another newsletter from us at The Merge.

Tokenisation News

🌊 Ripple Labs’ stablecoin RLUSD to be given the green light for Dec 4th

👨🏻‍⚖️ UK to Deliver Crypto Regulation by Early 2025

🪡 Sui Network enters a strategic partnership with asset manager Franklin Templeton

Read Time: 6 Minutes

Global Market Overview

Real World Assets on-chain (excl stablecoins) are worth $13.51 billion (↑2.08% from last month).

There are 66,524 Total Asset Holders (↑2.67% from last month).

• $191.45b is in Stablecoins (Money Printer is on 🔥)

• $9.44b is within Private Credit

• $2.54b is in US Treasury Debt

• $1.06b is in Commodities

• $103.33m is in Global Bonds

• $10.51m is in Stocks

The top 3 networks are 🥇Ethereum ($111.08b in Total Value Locked) 🥈Tron ($61.65b in TVL) &🥉Binance Smart Chain ($5.26b in TVL).

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

So, what’s being tokenised this week?

Private Credit

Currently, there are $9.4 billion in active-value loans and $15.9 billion in total loan value across all protocols.

As of today, the top 3 current protocols with outstanding loans are 🥇Figure ($8.8b)🥈Maple Finance ($288m) &🥉Mercado Bitcoin ($86m).

🪡 Sui Network enters a strategic partnership with asset manager Franklin Templeton

This collaboration aims to address challenges in decentralized finance (DeFi) by leveraging Sui's technology to create innovative solutions.

Franklin Templeton's involvement includes providing resources and expertise to help deploy new technologies within the Sui ecosystem.

Since its mainnet launch in May 2023, Sui has experienced significant growth, with a 675% increase in total value locked (TVL), reaching $1.6 billion. Its native token, SUI, has also seen a substantial rise, gaining over 380% this year.

The partnership reflects a broader trend of traditional financial institutions engaging with blockchain platforms to foster innovation and expand the DeFi landscape.

Stablecoins

Currently, the market cap of stablecoins is $191.45 billion (↑11.52% from last month)

As of today, it makes up 0.92% (↑10.58% from last month) of all M2 Money Supply with Monthly Transfer Volume totalling $1.78 trillion (↑10.4% from last month).

The top 3 current entities are 🥇Tether ($133.7b)🥈Circle ($38.7) &🥉Binance ($4.6b).

Top stories this week?

🌊 Ripple Labs’ stablecoin RLUSD to be given the green light for Dec 4th by New York Regulator

RLUSD is a dollar-pegged stablecoin that’s fully backed by cash and cash equivalents, with extra over-collateralization for added security. It’ll be available on both the XRP Ledger and Ethereum blockchain.

Ripple is gearing up to launch its new stablecoin, RLUSD, as early as December 4, 2024, pending approval from the New York Department of Financial Services (NYDFS).

Ripple plans to use RLUSD to improve its cross-border payment services, making transactions smoother and faster for customers worldwide.

To make it widely available, Ripple is teaming up with exchanges like Uphold, Bitstamp, Bitso, MoonPay, and others like Independent Reserve and CoinMENA.

Ripple have said they will provide monthly reports on RLUSD’s reserves and have third-party audits to ensure everything stays transparent.

Things are moving really fast now that a pro-crypto government are coming into the White House 🔥

Commodities

Currently, the market cap of commodities is $1.06b (↓5.12% from last month).

As of today, the Monthly Transfer Volume totals $279m (↑1.45% from last month) with 57.4k addresses that are current holders.

The top 3 current entities are 🥇Paxos ($521.8m)🥈Tether ($515.3m) & 🥉Comtech Gold ($11.19m).

Top stories this week?

🇬🇧 UK to Deliver Crypto Regulation by Early 2025

The UK is gearing up to introduce a full set of crypto regulations by early 2025. These new rules will bring everything under one framework, focusing on areas like stablecoins and staking services.

The Financial Conduct Authority (FCA) plans to roll out guidelines on key issues like capital requirements, insider trading, market abuse, custody, and how orders are handled. They’ll also introduce a new rulebook to ensure the industry is operating responsibly.

A paper discussing market abuse is expected later in 2024, with more conversations on other aspects coming in early 2025. The entire framework is set to be finalized by 2026.

This is a big step for the UK, showing its commitment to building a safer and more competitive crypto sector. It’s also in line with global trends, reflecting the growing importance of digital assets in everyday finance.

Bonds

Currently, the total value of bonds is $103.33m (↓0.32% from last week)

As of today, the Average Yield to Maturity is 0%. There are 476 Holders (↓1.26% from last week).

The top 3 current entities are 🥇Spiko ($77.68m)🥈 Backed Finance ($20.34m)🥉 OpenTrade ($5.31m).

Top stories this week?

🏛️ Deutsche Bank to invest $20 million in tokenised money infrastructure

Deutsche Bank has invested $20 million in Partior, a blockchain-based payment network.

Partior was co-founded by DBS Bank, JP Morgan, Standard Chartered, and Temasek. This investment wraps up Partior’s Series B funding round, which raised a total of $80 million.

Partior’s platform uses distributed ledger technology (DLT) to enable real-time, 24/7 cross-border payments. It addresses common issues in traditional banking, such as delays and a lack of transparency.

Deutsche Bank will act as a settlement bank for euros and U.S. dollars on the Partior network. This move enhances the bank’s ability to provide fast and transparent cross-border payment solutions.

Stocks

Currently, the total value of stocks is $10.51m (↑25.7% from last month).

As of today, the Monthly Transfer Volume totals $691.4k (↑397.8% from last month🔥) with 86 Active Addresses and 325 Current Holders.

The top 3 current entities are 🥇Coinbase Global ($6.5m)🥈iShares Core S&P 500 ($2.1m) &🥉Nvidia ($1.38m).

Weekly Resource List

👻 Phantom Wallet: Beginner-Friendly Wallet

Multiple chains, one wallet. No need for switching. Seamlessly access the largest NFT marketplaces. A multi-chain wallet that helps you explore web3, use apps, and buy, store, and trade crypto and NFTs across Solana, Ethereum, and Polygon. (link) 

💳 Coinbase Wallet: The Crypto Wallet of Choice

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) 

🌐 RWA.xyz: On-Chain RWA Analytics

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

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) 

As always, thanks for reading.

Vote below and let us know your thoughts this week —we’d love to hear from you.

See you next Sunday,

Merge