✦ Meet Us This Week at Digital Asset Summit New York (and It's Side Events!)
Particula will be attending Blockworks DAS 2025 in New York from March 18-20, with co-founders Nadine Wilke, Carsten Hermann, and Timm Reinsdorf on-site to connect with institutions shaping digital assets. We’re inviting issuers, exchanges, banks, and investors to explore how Particula’s risk ratings and monitoring solutions can bring more transparency and security to tokenized markets, and will also join key side events like the RWA Summit, BitGo & WisdomTree Reception, and Solana's RWA Offsite.
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Particula will be attending Blockworks DAS 2025 in New York from March 18-20, with co-founders Nadine Wilke, Carsten Hermann, and Timm Reinsdorf on-site to connect with institutions shaping digital assets. We’re inviting issuers, exchanges, banks, and investors to explore how Particula’s risk ratings and monitoring solutions can bring more transparency and security to tokenized markets, and will also join key side events like the RWA Summit, BitGo & WisdomTree Reception, and Solana's RWA Offsite.
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Ethena and Securitize to Introduce Converge
Ethena Labs has announced Converge, an EVM-compatible network designed to support both permissionless DeFi applications and a permissioned institutional ecosystem. The network will be secured by institutional validators staking ENA, while USDe and USDtb will function as native gas tokens.
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Ethena Labs has announced Converge, an EVM-compatible network designed to support both permissionless DeFi applications and a permissioned institutional ecosystem. The network will be secured by institutional validators staking ENA, while USDe and USDtb will function as native gas tokens.
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✦ Particula to Assign AA- Rating to the Blockstream Mining Note BMN2
BMN2 is an unsecured note facilitating a revolving loan for Bitcoin mining, structured with strong regulatory compliance and a bankruptcy-remote framework to enhance investor access. While it offers potential for attractive returns and is managed by the STOKR team, risks include a long-term investment horizon, legal constraints, Liquid Network limitations, and Bitcoin mining volatility.
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BMN2 is an unsecured note facilitating a revolving loan for Bitcoin mining, structured with strong regulatory compliance and a bankruptcy-remote framework to enhance investor access. While it offers potential for attractive returns and is managed by the STOKR team, risks include a long-term investment horizon, legal constraints, Liquid Network limitations, and Bitcoin mining volatility.
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We’re back from Digital Asset Summit NY! Props to Blockworks and all hosts of side events 👏
🕵🏻♂️ Here’s a breakdown of what happened in the last couple of days:
Hanypay has entered a strategic agreement to develop and globally integrate the gold-backed AKL Lumi stablecoin, aiming to enhance financial inclusion, regulatory-compliant tokenization, and cross-border digital asset adoption across Africa and the global diaspora.
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Aave Labs has launched Horizon, a licensed institutional DeFi platform enabling tokenized real-world assets—like money market funds—to serve as collateral for GHO-backed liquidity
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The Tel Aviv Stock Exchange has initiated a strategic upgrade of its clearinghouse to support digital assets, tokenization, and DLT integration—engaging Oliver Wyman to guide the phased rollout of next-gen infrastructure leveraging AI, blockchain, and cloud technologies.
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SIX Group announced a strategic overhaul under its new CEO, merging its blockchain-based SIX Digital Exchange into Securities Services to scale digital asset infrastructure across the group, streamline operations, and drive growth as part of its "Scale Up 2027" initiative.
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Nomura Research Institute issued a USD 19Bn digital bond on BOOSTRY’s blockchain with T+1 delivery-versus-payment settlement using conventional bank money, marking a breakthrough in reducing settlement risk and exploring tokenized deposit integration via the DCJPY platform.
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Northern Trust’s digital assets head says easing U.S. crypto regulations could accelerate tokenized asset adoption, enabling faster, more transparent settlement and reduced costs
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Bayer has partnered with Northern Trust’s blockchain-based Carbon Ecosystem to enhance transparency in its regenerative agriculture carbon credit program—one of the largest of its kind—despite controversy over its continued promotion of Glyphosate herbicide.
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RAAC has launched its testnet with $235M in gold-backed deposits, aiming to unlock institutional-grade DeFi lending through tokenized real-world assets like gold and real estate, bridging TradFi and DeFi via the Curve ecosystem and Chainlink’s infrastructure.
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BX Digital, a Boerse Stuttgart subsidiary, has received FINMA approval to launch Switzerland’s first fully DLT-regulated trading venue on Ethereum, enabling direct settlement via central bank linkage and bypassing traditional CSDs to streamline tokenized asset trading for institutional participants.
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🕵🏻♂️ Here’s a breakdown of what happened in the last couple of days:
Hanypay has entered a strategic agreement to develop and globally integrate the gold-backed AKL Lumi stablecoin, aiming to enhance financial inclusion, regulatory-compliant tokenization, and cross-border digital asset adoption across Africa and the global diaspora.
- Link
Aave Labs has launched Horizon, a licensed institutional DeFi platform enabling tokenized real-world assets—like money market funds—to serve as collateral for GHO-backed liquidity
- Link
The Tel Aviv Stock Exchange has initiated a strategic upgrade of its clearinghouse to support digital assets, tokenization, and DLT integration—engaging Oliver Wyman to guide the phased rollout of next-gen infrastructure leveraging AI, blockchain, and cloud technologies.
- Link
SIX Group announced a strategic overhaul under its new CEO, merging its blockchain-based SIX Digital Exchange into Securities Services to scale digital asset infrastructure across the group, streamline operations, and drive growth as part of its "Scale Up 2027" initiative.
- Link
Nomura Research Institute issued a USD 19Bn digital bond on BOOSTRY’s blockchain with T+1 delivery-versus-payment settlement using conventional bank money, marking a breakthrough in reducing settlement risk and exploring tokenized deposit integration via the DCJPY platform.
- Link
Northern Trust’s digital assets head says easing U.S. crypto regulations could accelerate tokenized asset adoption, enabling faster, more transparent settlement and reduced costs
- Link
Bayer has partnered with Northern Trust’s blockchain-based Carbon Ecosystem to enhance transparency in its regenerative agriculture carbon credit program—one of the largest of its kind—despite controversy over its continued promotion of Glyphosate herbicide.
- Link
RAAC has launched its testnet with $235M in gold-backed deposits, aiming to unlock institutional-grade DeFi lending through tokenized real-world assets like gold and real estate, bridging TradFi and DeFi via the Curve ecosystem and Chainlink’s infrastructure.
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BX Digital, a Boerse Stuttgart subsidiary, has received FINMA approval to launch Switzerland’s first fully DLT-regulated trading venue on Ethereum, enabling direct settlement via central bank linkage and bypassing traditional CSDs to streamline tokenized asset trading for institutional participants.
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Bahrain-based exchange ATME has entered the $1.2B tokenized gold market with its first gold-backed token, offering secondary trading and physical redemption, as it eyes broader real-world asset expansion amid rising demand.
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Strands Technologies surpassed $1.2B in RWA volume within 10 days of launching Alpha Phase 2, leveraging a 50,000 OP token grant from the Optimism Foundation to accelerate institutional adoption
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OpenEden has integrated Chainlink’s CCIP, Proof of Reserve, and CCT standard to enhance cross-chain interoperability, transparency, and security for its USDO stablecoin—positioning it as a compliant, yield-bearing, tokenized U.S. Treasury-backed asset ready for institutional-grade DeFi adoption.
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The Dubai Financial Services Authority has opened applications for its tokenization regulatory sandbox, inviting firms to test tokenized stocks, bonds, and funds under supervision—advancing DIFC's push toward regulated digital asset innovation ahead of the April 24, 2025 deadline.
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Dubai’s elite racehorse market is opening to fractional ownership through a partnership between RWA tokenization platforms in Dubai and New Zealand, enabling digital shares in prized horses to enhance liquidity and democratize access to the prestigious equestrian sector.
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Dubai Land Department has launched the region’s first real estate tokenization pilot, converting property title deeds into digital tokens via blockchain.
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Cathie Wood plans to tokenize Ark Invest funds like ARKVX and the Digital Asset Revolution Fund once U.S. regulations allow.
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DTCC has joined the ERC3643 Association, endorsing the Ethereum-based standard for permissioned RWA tokens as part of its broader strategy to modernize financial market infrastructure through blockchain, reinforcing its support for open-source tokenization via its ComposerX platform.
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Oxbridge Re has partnered with blockchain platform Plume to scale distribution of its tokenized reinsurance securities, ZetaCat Re and EtaCat Re—offering yields up to 42%.
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Plume and Goldfinch have partnered to bring institutional-grade private credit funds from managers like Apollo and KKR onchain, enabling permissionless access to liquid, yield-generating assets through Plume’s infrastructure and Goldfinch Prime’s compliant credit product.
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Strands Technologies surpassed $1.2B in RWA volume within 10 days of launching Alpha Phase 2, leveraging a 50,000 OP token grant from the Optimism Foundation to accelerate institutional adoption
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OpenEden has integrated Chainlink’s CCIP, Proof of Reserve, and CCT standard to enhance cross-chain interoperability, transparency, and security for its USDO stablecoin—positioning it as a compliant, yield-bearing, tokenized U.S. Treasury-backed asset ready for institutional-grade DeFi adoption.
- Link
The Dubai Financial Services Authority has opened applications for its tokenization regulatory sandbox, inviting firms to test tokenized stocks, bonds, and funds under supervision—advancing DIFC's push toward regulated digital asset innovation ahead of the April 24, 2025 deadline.
- Link
Dubai’s elite racehorse market is opening to fractional ownership through a partnership between RWA tokenization platforms in Dubai and New Zealand, enabling digital shares in prized horses to enhance liquidity and democratize access to the prestigious equestrian sector.
- Link
Dubai Land Department has launched the region’s first real estate tokenization pilot, converting property title deeds into digital tokens via blockchain.
- Link
Cathie Wood plans to tokenize Ark Invest funds like ARKVX and the Digital Asset Revolution Fund once U.S. regulations allow.
- Link
DTCC has joined the ERC3643 Association, endorsing the Ethereum-based standard for permissioned RWA tokens as part of its broader strategy to modernize financial market infrastructure through blockchain, reinforcing its support for open-source tokenization via its ComposerX platform.
- Link
Oxbridge Re has partnered with blockchain platform Plume to scale distribution of its tokenized reinsurance securities, ZetaCat Re and EtaCat Re—offering yields up to 42%.
- Link
Plume and Goldfinch have partnered to bring institutional-grade private credit funds from managers like Apollo and KKR onchain, enabling permissionless access to liquid, yield-generating assets through Plume’s infrastructure and Goldfinch Prime’s compliant credit product.
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Republic has partnered with Hamilton Lane to offer U.S. retail investors access to a tokenized private infrastructure fund for as little as $500.
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FalconX has launched the first tokenized Structured Credit Facility on-chain, packaging its institutional loans into a blockchain-based private credit vault in partnership with M11 Credit and Pareto.
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VanEck Ventures has invested in Manifest, a platform launching $USH—a tokenized ETF backed by U.S. home equity—bringing decentralized, fully on-chain access to diversified residential real estate exposure, offering programmability beyond traditional REITs or ETFs.
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Korea’s Financial Services Commission (KFSC) has approved Kyobo Life to issue tokenized aircraft engine securities via Galaxia Money Tree’s platform, enabling retail investors to access fractional ownership in aviation assets traditionally reserved for institutions, with VMIC managing leasing and Cirium providing real-time engine data on-chain.
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UK Chancellor Rachel Reeves has launched procurement for the Digital Gilt Instrument (DIGIT), initiating the issuance of blockchain-based government bonds within the Digital Securities Sandbox, as the UK explores tokenized sovereign debt.
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Figure accounts for nearly 80% of all tokenized private credit and is transforming loan markets with its blockchain-based Figure Connect platform and DART lien registry—now used by major institutions like Goldman Sachs and Jefferies,
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Goldman Sachs, Moody’s, and Hong Kong FMI Services have joined the Global Synchronizer Foundation to support governance of the Canton Network—a privacy-focused, interoperable blockchain for regulated finance.
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Tokenized USD Money Market Fund, CPIC Estable MMF, initiated and managed by CPIC Investment Management (H.K.) Co, Ltd, was successfully deployed on HashKey Chain, with subscription volume reaching USD 100 million on its launch day.
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Germany’s BaFin has banned public sales of Ethena’s USDe token, citing MiCA violations and unregistered securities activity, ordering the firm to halt new customer onboarding and freeze reserves—though secondary trading remains unaffected as Ethena seeks regulatory remediation.
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BlackRock/Securitize, Superstate, and Centrifuge have been selected to onboard up to $1B in tokenized U.S. Treasury assets to Spark’s Liquidity Layer.
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✦ Team Particula
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FalconX has launched the first tokenized Structured Credit Facility on-chain, packaging its institutional loans into a blockchain-based private credit vault in partnership with M11 Credit and Pareto.
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VanEck Ventures has invested in Manifest, a platform launching $USH—a tokenized ETF backed by U.S. home equity—bringing decentralized, fully on-chain access to diversified residential real estate exposure, offering programmability beyond traditional REITs or ETFs.
- Link
Korea’s Financial Services Commission (KFSC) has approved Kyobo Life to issue tokenized aircraft engine securities via Galaxia Money Tree’s platform, enabling retail investors to access fractional ownership in aviation assets traditionally reserved for institutions, with VMIC managing leasing and Cirium providing real-time engine data on-chain.
- Link
UK Chancellor Rachel Reeves has launched procurement for the Digital Gilt Instrument (DIGIT), initiating the issuance of blockchain-based government bonds within the Digital Securities Sandbox, as the UK explores tokenized sovereign debt.
- Link
Figure accounts for nearly 80% of all tokenized private credit and is transforming loan markets with its blockchain-based Figure Connect platform and DART lien registry—now used by major institutions like Goldman Sachs and Jefferies,
- Link
Goldman Sachs, Moody’s, and Hong Kong FMI Services have joined the Global Synchronizer Foundation to support governance of the Canton Network—a privacy-focused, interoperable blockchain for regulated finance.
- Link
Tokenized USD Money Market Fund, CPIC Estable MMF, initiated and managed by CPIC Investment Management (H.K.) Co, Ltd, was successfully deployed on HashKey Chain, with subscription volume reaching USD 100 million on its launch day.
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Germany’s BaFin has banned public sales of Ethena’s USDe token, citing MiCA violations and unregistered securities activity, ordering the firm to halt new customer onboarding and freeze reserves—though secondary trading remains unaffected as Ethena seeks regulatory remediation.
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BlackRock/Securitize, Superstate, and Centrifuge have been selected to onboard up to $1B in tokenized U.S. Treasury assets to Spark’s Liquidity Layer.
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✦ Team Particula
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DigiFT to Plan Tokenized Fund-Based on Tokenized AI Stocks
DigiFT's fully on-chain AI index fund tokenizes both fund shares and underlying equities, enabling automated issuance, real-time transparency, and 24/7 institutional trading without intermediaries.
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DigiFT's fully on-chain AI index fund tokenizes both fund shares and underlying equities, enabling automated issuance, real-time transparency, and 24/7 institutional trading without intermediaries.
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Polymesh to Tokenize $51.9 Million Canadian Commercial Real Estate
Leveraging Polymesh’s public permissioned blockchain and Ocree’s national exempt market dealer licenses (ex-Quebec), the two companies have launched a Canadian blockchain-based real estate platform offering regulated, fractionalized access to commercial property investments, starting with a $51.9M asset in Winnipeg.
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Leveraging Polymesh’s public permissioned blockchain and Ocree’s national exempt market dealer licenses (ex-Quebec), the two companies have launched a Canadian blockchain-based real estate platform offering regulated, fractionalized access to commercial property investments, starting with a $51.9M asset in Winnipeg.
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Fidelity to Plan Launch of Ethereum-Tracked Shares for Treasury Money Market Fund
The "OnChain" share class for its Treasury money market fund (FYHXX) is recording share ownership on both blockchain and traditional ledgers, with daily reconciliation. While underlying assets remain off-chain, this expands blockchain integration in fund administration.
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The "OnChain" share class for its Treasury money market fund (FYHXX) is recording share ownership on both blockchain and traditional ledgers, with daily reconciliation. While underlying assets remain off-chain, this expands blockchain integration in fund administration.
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BlackRock to Bring $1.7B Tokenized Treasury Fund to Solana
BlackRock has expanded BUIDL to Solana - its seventh supported blockchain - enabling 24/7 yield-generating access for digital asset investors and reinforcing institutional adoption of tokenized real-world assets.
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BlackRock has expanded BUIDL to Solana - its seventh supported blockchain - enabling 24/7 yield-generating access for digital asset investors and reinforcing institutional adoption of tokenized real-world assets.
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✦ Particula to Complete PoC with Moody’s Ratings to Enhance Digital Asset Risk Capabilities
Particula and Moody’s Ratings completed a PoC integrating real-time blockchain analytics to assess operational risks in digital assets, demonstrating how smart contract security, on-chain activity, and system resilience can enhance institutional risk transparency. This collaboration supports evolving frameworks for dynamic, data-driven risk evaluation amid increasing institutional adoption of tokenized assets.
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Particula and Moody’s Ratings completed a PoC integrating real-time blockchain analytics to assess operational risks in digital assets, demonstrating how smart contract security, on-chain activity, and system resilience can enhance institutional risk transparency. This collaboration supports evolving frameworks for dynamic, data-driven risk evaluation amid increasing institutional adoption of tokenized assets.
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President Trump’s World Liberty Financial to Launch USD1 Stablecoin
WLFI, linked to U.S. President Donald Trump, has launched USD1, a US dollar-pegged stablecoin fully backed by Treasuries, cash, and equivalents, targeting institutional adoption and cross-border DeFi use.
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WLFI, linked to U.S. President Donald Trump, has launched USD1, a US dollar-pegged stablecoin fully backed by Treasuries, cash, and equivalents, targeting institutional adoption and cross-border DeFi use.
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Standard Chartered to Provide Clients With Digital Asset Custody
Standard Chartered has signed an MoU with SIX Digital Exchange to join its regulated digital CSD platform, expanding its digital asset custody services and enabling client access to Switzerland’s digital securities market.
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Standard Chartered has signed an MoU with SIX Digital Exchange to join its regulated digital CSD platform, expanding its digital asset custody services and enabling client access to Switzerland’s digital securities market.
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DigiShares to Launch Tokenized Real Estate Trading Platform
DigiShares has launched RealEstate[.]Exchange (REX) on Polygon to enable compliant secondary market trading of tokenized real estate, starting with two luxury properties in Miami. Backed by SEC-registered broker-dealer Texture Capital and pursuing MiCA and MiFID compliance, REX targets global expansion and addresses real estate liquidity constraints.
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DigiShares has launched RealEstate[.]Exchange (REX) on Polygon to enable compliant secondary market trading of tokenized real estate, starting with two luxury properties in Miami. Backed by SEC-registered broker-dealer Texture Capital and pursuing MiCA and MiFID compliance, REX targets global expansion and addresses real estate liquidity constraints.
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Abu Dhabi’s Financial Free Zone to Sign MoU with Chainlink for Tokenization Frameworks
Abu Dhabi Global Market (ADGM) has signed an MoU with Chainlink to integrate blockchain-based data feeds and interoperability tools into its $635B financial ecosystem, aiming to bridge traditional finance with on-chain infrastructure. The partnership supports ADGM’s broader strategy to position Abu Dhabi as a hub for digital finance.
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Abu Dhabi Global Market (ADGM) has signed an MoU with Chainlink to integrate blockchain-based data feeds and interoperability tools into its $635B financial ecosystem, aiming to bridge traditional finance with on-chain infrastructure. The partnership supports ADGM’s broader strategy to position Abu Dhabi as a hub for digital finance.
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CME Group to Introduce Tokenization Technology Using Google Cloud's New Universal Ledger
CME Group and Google Cloud have completed initial testing of Google Cloud’s Universal Ledger (GCUL), a programmable, permissioned DLT platform aimed at streamlining wholesale payments, collateral, and settlement processes. The collaboration marks a step toward launching 24/7 digital financial services, with broader market participant testing planned for later in 2025 and service rollout in 2026.
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CME Group and Google Cloud have completed initial testing of Google Cloud’s Universal Ledger (GCUL), a programmable, permissioned DLT platform aimed at streamlining wholesale payments, collateral, and settlement processes. The collaboration marks a step toward launching 24/7 digital financial services, with broader market participant testing planned for later in 2025 and service rollout in 2026.
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Custodia and Vantage Launch First US Bank-issued Stablecoin
Custodia Bank and Vantage Bank have launched Avit, the first U.S. bank-issued stablecoin on a permissionless blockchain, issuing tokenized dollar demand deposits on Ethereum via ERC-20.
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Custodia Bank and Vantage Bank have launched Avit, the first U.S. bank-issued stablecoin on a permissionless blockchain, issuing tokenized dollar demand deposits on Ethereum via ERC-20.
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SEC Crypto Task Force to Discuss DeFi, Tokenization at Newly Scheduled Roundtables
The U.S. SEC’s Crypto Task Force will hold four public roundtables from April to June—covering tokenization, DeFi, custody, and trading regulation—as part of a shift toward transparent engagement and rulemaking. Led by Commissioner Hester Peirce, the initiative reflects a move away from enforcement-led policy and coincides with the nomination of crypto-supportive Paul Atkins as SEC Chair.
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The U.S. SEC’s Crypto Task Force will hold four public roundtables from April to June—covering tokenization, DeFi, custody, and trading regulation—as part of a shift toward transparent engagement and rulemaking. Led by Commissioner Hester Peirce, the initiative reflects a move away from enforcement-led policy and coincides with the nomination of crypto-supportive Paul Atkins as SEC Chair.
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Plug and Play & XDC Network to Launch First Ever RWA Accelerator
Plug and Play and the XDC Foundation have launched a three-month RWA Accelerator in Silicon Valley, featuring 12 tokenization startups—including Clearpool, Tokeny, and Zero Hash - building on the XDC Network. The program aims to scale enterprise-grade tokenization use cases through integration with XDC’s trade finance infrastructure and Plug and Play’s corporate network, culminating in a June showcase to global investors and institutions.
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Plug and Play and the XDC Foundation have launched a three-month RWA Accelerator in Silicon Valley, featuring 12 tokenization startups—including Clearpool, Tokeny, and Zero Hash - building on the XDC Network. The program aims to scale enterprise-grade tokenization use cases through integration with XDC’s trade finance infrastructure and Plug and Play’s corporate network, culminating in a June showcase to global investors and institutions.
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FCA tp Pledge Fund Tokenisation Support in New Pro-growth Strategy
The UK Financial Conduct Authority (FCA) has committed to supporting fund tokenization under a new five-year strategy focused on tech-driven growth, opting for guidance over prescriptive rulemaking. The initiative builds on prior work with 200 firms using AI and will aid asset managers exploring distributed ledger-based fund structures, as industry players like BlackRock and DWS increasingly assess tokenization's cost and efficiency benefits.
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The UK Financial Conduct Authority (FCA) has committed to supporting fund tokenization under a new five-year strategy focused on tech-driven growth, opting for guidance over prescriptive rulemaking. The initiative builds on prior work with 200 firms using AI and will aid asset managers exploring distributed ledger-based fund structures, as industry players like BlackRock and DWS increasingly assess tokenization's cost and efficiency benefits.
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ICE to Explore USDC Stablecoin & Tokenized Funds for Capital Markets
ICE, parent of the New York Stock Exchange, plans to explore integrating Circle’s USDC stablecoin and USYC tokenized money market fund into its derivatives, clearing, and data services, aiming to develop new capital markets products.
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ICE, parent of the New York Stock Exchange, plans to explore integrating Circle’s USDC stablecoin and USYC tokenized money market fund into its derivatives, clearing, and data services, aiming to develop new capital markets products.
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