🌐 SWIFT to use Chainlink's CCIP for Global Trials in 2025

Sunday is here.

Welcome back to another newsletter from us at The Merge.

Tokenisation News

🪙 SWIFT announces live testing of digital assets using Chainlink’s CCIP in 2025

✨ Hashnote Labs launches USYC

🌠 German Bank Sparkasse Dortmund issues a digital savings bond

Read Time: 6 Minutes

Global Market Overview

Real World Assets on-chain (excl stablecoins) are worth $12.84 billion (↑2.74% from last month).

There are 63,667 Total Asset Holders (↑4.06% from last month).

• $172.01b is in Stablecoins

• $9.12b is within Private Credit

• $2.32b is in US Treasury Debt

• $1.03b is in Commodities

• $85.3m is in Global Bonds

• $7.11m is in Stocks

The top 3 networks are 🥇Ethereum ($90.3b in Total Value Locked) 🥈Tron ($62.6b in TVL) & 🥉Binance Smart Chain ($5.04b in TVL).

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

So, what’s being tokenised this week?

Private Credit

Currently, there are $9.12 billion in active value loans & $14.95 billion in total loan value across all protocols.

As of today, the top 3 current protocols with outstanding loans are 🥇Figure ($8.5b)🥈Maple Finance ($263m) & 🥉Centrifuge ($138m).

Top stories this week?

✨Hashnote Labs launches USYC

Hashnote Labs, the on-chain fintech firm has launched USYC, a product of their Short Duration Yield Fund.

Fully regulated by the CTFC & CIMA it is designed to offer tokenised, short-term, risk-free rate returns it' utilises the benefits of on-chain transaction speeds and transparency to eliminate most protocol/custody/credit risks.

It primarily engages in repo/reverse repo activities and invests in short-term U.S. Treasury Bills, and currently provides a daily gross APY of 5.24%.

Stablecoins

Currently, the market cap of stablecoins is $172.01 billion (↑0.92% from last month).

As of today, it makes up 0.82% (↑0.92% from last month) of all M2 Money Supply with Monthly Transfer Volume totalling $1.41 trillion (↓13.78% from last month).

The top 3 current entities are 🥇Tether ($119.3b)🥈Circle ($35.9b) &🥉Binance ($4.3b).

Top stories this week?

🪙 SWIFT announces live trials of digital asset transactions in 2025

SWIFT has announced that starting in 2025 banks across North America, Europe, and Asia will embark on live trials of digital assets and currency transactions over the Swift network.

Currently SWIFT provides the main messaging network through which international payments are initiated globally.

They've announced that they'll be collaborating with their community to pilot an advanced version of their infrastructure, utilising Chainlink’s Cross-Chain Interoperability Protocol (CCIP) which is designed to build bridges across all blockchains to allow them to communicate interoperably.

It will be capable of orchestrating digital asset and currency transactions across networks outside of the pilot stage for the first time.

See our post on it here.

✨Solayer introduces sUSD

The first of its kind, Solayer - the liquid restaking network on Solana has teamed up with Open Eden to launch an RWA yield-bearing US Dollar with Treasury Bill interest a.k.a tokenised treasury bills on Solana.

Commodities

Currently, the market cap of commodities is $1.03b (↑6.7% from last month).

As of today, the Monthly Transfer Volume totals $166.81m (↑26.2% from last month) with 57.5k addresses that are current holders.

The top 3 current entities are 🥇Paxos ($511.3m)🥈Tether ($497.4m) &🥉Comtech Gold ($11.2m).

Top stories this week?

⚱️ VNX partners up with Helio for stablecoin acceptance in Shopify

VNX platform which aims to bring RWA’s to the crypto world, and generate fiat referencing stablecoins VNX (VEUR) & Swiss Franc (VCHF) have announced they are accepted in over 4 million Shopify and Woo Commerce stores worldwide - due to their partnership with Helio Pay.

Helio are a seamless crypto checkout solution from the UK, which is sat across Solana, Ethereum and Bitcoin networks.

Bonds

Currently, the total value of bonds is $85.3m (↑6.76% from last week).

As of today, the Average Yield to Maturity is 3.1% with 2.42 years in Weighted Average Maturity. There are 321 Holders (↓6.54% from last week).

The top 3 current entities are 🥇Spiko ($65.58m)🥈 Backed Finance ($20.66m)🥉 OpenTrade ($1.06m).

Top stories this week?

🌠 Sparkasse Dortmund issues a digital savings bond

In continuation with the continuing Eurosystem trials which are exploring different mechanisms to settle DLT-based securities transactions via central bank money, Sparkasse Dortmund - a German bank has issued a digital savings bond on the SWIAT blockchain.

The Trigger solution is one of three settlement options in the wholesale DLT settlement trials. The others are a wholesale CBDC using the Banque de France’s DL3S platform and the Bank of Italy’s TIPS Hashlink solution.

SWIAT was founded by Germnay’s DekaBank with the plan to bring together global financial institutions on a shared digital asset platform, similar to SWIFT. It is part of a joint venture that also includes Standard Chartered and LBBW as partners.

Stocks

Currently, the total value of stocks is $7.11m (↑29.67% from last month).

As of today, the Monthly Transfer Volume totals $179.02k (↓87.23% from last month) with 89 Active Addresses and 787 Current Holders.

The top 3 current entities are 🥇Coinbase Global ($3.62m)🥈iShares Core S&P 500 ($1.60m) &🥉Nvidia ($1.30m).

Stocks

Currently, the total value of stocks is $7.11m (↑29.67% from last month).

As of today, the Monthly Transfer Volume totals $179.02k (↓87.23% from last month) with 89 Active Addresses and 787 Current Holders.

The top 3 current entities are 🥇Coinbase Global ($3.62m)🥈iShares Core S&P 500 ($1.60m) &🥉Nvidia ($1.30m).

Weekly Resource List

🌐 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) 

💳 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) 

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