🇬🇧 UK Introduces Bill to Recognise Digital Assets as Property

Sunday is here.

Welcome back to another newsletter from us at The Merge.

Tokenisation News

🇬🇧 UK Introduces a Bill to Parliament to Recognise Digital Assets like Crypto as Property

🪄 Binance Labs secures its first investment into the rapidly growing tokenised real-world assets through Open Eden Labs

🌔 Polytrade Finance auctioned the first-ever tokenised lunar meteorite (a.k.a. a piece of the moon)

Read Time: 7 Minutes

Global Market Overview

Real World Assets on-chain (excl stablecoins) are worth $12.05b (↑2.5% from last month).

There are 62,599 Total Asset Holders (↑3.92% from last month).

• $171.14b is in Stablecoins

• $9.08b is within Private Credit

• $2.22b is in US Treasury Debt

• $968.94m is in tokenised Commodities

• $74.11m is in Global Bonds

• $5.53m is in tokenised Stocks

The top 3 networks are 🥇Ethereum ($89.5b in Total Value Locked) 🥈Tron ($62.6b in TVL) & 🥉Binance Smart Chain ($4.97b in TVL).

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

So, what’s being tokenised this week?

Private Credit

Currently, there is $9.08b in active value loans & $14.39b total loan value across all protocols.

As of today, the top 3 current protocols with outstanding loans are 🥇Figure ($8.4b) 🥈Centrifuge ($277m) & 🥉Maple Finance ($248m).

Top stories this week?

✨ Huma Finance closed a $38m investment round with planned expansions to Solana and Stellar

Huma’s payment-finance platform aims to address the liquidity needs of trade financing using blockchain technology for faster settlement.

See more here.

💧Lido Finance Vaults have launched on Euler Labs, a modular lending platform on Ethereum that enables users to lend, borrow and build.

The cluster includes wstETH, WETH, and USDC. It is designed to provide low borrowing rates, fair liquidations, and a low risk of losing value. Only wstETH, ETH, and USDC are accepted.

It is connected to Contango from the start to allow for more exposure and leveraged positions.

Stablecoins

Currently, the market cap of stablecoins is $170.14b (↓0.8% from last month.)

As of today, it makes up 0.82% (↓0.8% from last month) of all M2 Money Supply with Monthly Transfer Volume totalling $1.55 trillion (↓9.74% from last month).

The top 3 current entities are 🥇Tether ($118.6b)🥈Circle ($35.6b) &🥉Binance ($4.3b).

Top stories this week?

🇬🇧 UK Introduces a bill to Parliament to recognise digital assets like crypto as property

The bill will clarify that these assets are considered personal property under British law. Once enacted, it will give the legal profession guidelines to follow when there's a dispute on ownership, such as during a divorce.

It will also protect crypto owners, whether individuals or companies, who are hit by fraud and scams.

🪄 Binance Labs secures its first investment into the rapidly growing tokenised real-world assets through Open Eden Labs

OpenEden’s tokenised U.S. T-Bill Fund TBILL is the first and only T-Bill product to receive an “A” rating from Moody’s.

They are the largest non-US platform in the space with just under $115 million in Total Value Locked (“TVL”) across blockchains like Ethereum, Arbitrum and XRP Ledger. With fresh funding plans to expand access to RWA-Backed yields will continue.

🏦 BBVA incorporates USDC into its crypto asset service in Switzerland

They have joined the race to provide their institutional and private banking clients in Switzerland, as well as those with a NewGen account, the capabilities to use USDC funds on the same platform where they handle their traditional investments. Clients can exchange, custody or automatically convert USDC in near real-time into euros, dollars, or any other currency.

Commodities

Currently, the market cap of commodities is $968.94m (↑3.06% from last month).

As of today, the Monthly Transfer Volume totals $134.91m (↓10.61% from last month) with 56.7k addresses that are current holders.

The top 3 current entities are 🥇Paxos ($477.7m)🥈Tether ($470.2m) &🥉Comtech Gold ($11.4m).

Top stories this week?

🌔 Polytrade Finance, an RWA marketplace has auctioned the first-ever tokenised lunar meteorite (a.k.a. a piece of the moon)

Certified by the Meteoritical Society and top lunar experts, it’s the first of its kind and the top 0.1% in the rarity of meteorites on Earth.

See the auction live here.

⚱️Arbitrum has announced that Paxos, a regulated blockchain infrastructure and tokenisation platform will integrate with Arbitrum, a leading L2 scaling solution on Ethereum

This partnership is important for helping more institutions join the Arbitrum network and bringing real-world assets online.

Through Arbitrum, Paxos will access Ethereum’s large pool of funds quickly and cheaply, and connect with Arbitrum’s active DeFi community. Businesses and institutions will use these features to create new financial products and services.

Bonds

Currently, the total value of bonds is $74.11m (↑2.57% from last week).

As of today, the Average Yield to Maturity is 5.6% with 0.067 years in Weighted Average Maturity. There is a total of 254 Holders (↓7.09% from last week).

The top 3 current entities are 🥇Spiko ($52.23m)🥈 Backed Finance ($20.66m)🥉 OpenTrade ($1.22m).

Stocks

Currently, the total value of stocks is $5.53m (↑4.91% from last month).

As of today, the Monthly Transfer Volume totals $443.6k (↓67.75% from last month) with 91 Active Addresses and 757 Current Holders.

The top 3 current entities are 🥇Coinbase Global ($2.84m)🥈Nvidia ($1.21m) &🥉iShares Core S&P 500 ($1.06m).

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