https://the-migration.pages.dev/Traditional finance moving on-chain, counted and explained.enhttps://the-migration.pages.dev/articles/tokenized-treasuries-fund-by-fund/https://the-migration.pages.dev/articles/tokenized-treasuries-fund-by-fund/Wed, 28 Oct 2026 12:00:00 +0000We read 17 tokenized Treasury funds directly from 20 public blockchains. Here is where the $12.61 billion sits, who issues it and how we count it.https://the-migration.pages.dev/articles/bnb-chain-tokenized-treasuries/https://the-migration.pages.dev/articles/bnb-chain-tokenized-treasuries/Wed, 28 Oct 2026 12:00:00 +0000Of the $12.61 billion in tokenized U.S. Treasury funds we count, $4.39 billion sits on BNB Chain and $3.94 billion on Ethereum. Two funds explain most of it.https://the-migration.pages.dev/articles/tokenized-gold-on-chain/https://the-migration.pages.dev/articles/tokenized-gold-on-chain/Wed, 28 Oct 2026 12:00:00 +0000We count $4.90 billion in tokenized gold across XAUt, PAXG and XAUm, read from 6 blockchains, after removing tokens Tether holds in its own reserve.https://the-migration.pages.dev/articles/tokenized-treasuries-double-count/https://the-migration.pages.dev/articles/tokenized-treasuries-double-count/Wed, 28 Oct 2026 12:00:00 +0000Ondo's USDY holds $313.8 million of SHVon, a tokenized Treasury ETF. Any total that counts both funds counts the same dollars twice. Here is how we handle it.https://the-migration.pages.dev/articles/cash-backed-stablecoins-on-chain/https://the-migration.pages.dev/articles/cash-backed-stablecoins-on-chain/Wed, 28 Oct 2026 12:00:00 +0000Our on-chain count of six cash-backed dollar stablecoins, chain by chain. Ethereum and Tron hold 87% of the total. Our reads match Tether's and Circle's own figures within 2%.https://the-migration.pages.dev/articles/how-we-count/https://the-migration.pages.dev/articles/how-we-count/Wed, 28 Oct 2026 12:00:00 +0000Every figure on The Migration is read directly from public blockchains, using only addresses the issuer publishes or confirms in writing. Here is the method, step by step.https://the-migration.pages.dev/articles/dtcc-tokenization-service-live-34-securities/https://the-migration.pages.dev/articles/dtcc-tokenization-service-live-34-securities/Wed, 28 Oct 2026 12:00:00 +0000DTCC's DTC launched its tokenization service on October 28, 2026. We set it beside our $12.61 billion count of tokenized Treasury funds on public chains.https://the-migration.pages.dev/news/dtcc-live/https://the-migration.pages.dev/news/dtcc-live/Wed, 28 Oct 2026 12:00:00 +0000The firm that settles most U.S. stock trades switched on tokenization for 34 securities across Russell 1000 stocks, ETFs and Treasuries. Tokens are backed 1:1 by DTC-held securities and move between registered wallets around the clock.https://the-migration.pages.dev/news/robinhood-morpho/https://the-migration.pages.dev/news/robinhood-morpho/Wed, 28 Oct 2026 12:00:00 +0000Robinhood's stock tokens were connected to the Morpho lending market, expanding how tokenized equities can be used as collateral on-chain.https://the-migration.pages.dev/news/janus-henderson-and-centrifuge-launch-licensed-n/https://the-migration.pages.dev/news/janus-henderson-and-centrifuge-launch-licensed-n/Tue, 27 Oct 2026 12:00:00 +0000Janus Henderson and Centrifuge launched JQQQ, a fund that seeks to track the Nasdaq-100 under license from Nasdaq, exclusively on Stellar. Reporting says it is closed to U.S. persons, and Janus Henderson says its onchain platform now includes more than $1 billion in institutional strategies.https://the-migration.pages.dev/news/sec-exemption/https://the-migration.pages.dev/news/sec-exemption/Fri, 23 Oct 2026 12:00:00 +0000The SEC's five-year Innovation Exemption lets tokenized securities venues trade tokenized U.S. stocks on public chains, with a 30-day window for issuers to object. At least 22 companies, including Wells Fargo and Intuit, have objected on the OKX–ICE venue.https://the-migration.pages.dev/news/hsbc-redcoin/https://the-migration.pages.dev/news/hsbc-redcoin/Fri, 23 Oct 2026 12:00:00 +0000HSBC's HKMA-licensed RedCoin went live on PayMe, payable at 100,000+ merchants. The bank plans to let customers subscribe to a tokenized share class of its HKD money market fund with it.https://the-migration.pages.dev/news/stocks-volume/https://the-migration.pages.dev/news/stocks-volume/Thu, 22 Oct 2026 12:00:00 +0000Dune counted more than $37B in on-chain trading of tokenized stocks and ETFs in Q3 across 200+ venues and 12 chains, with monthly volume up almost 18x since January. Binance's bStocks passed $1B in assets in about four months.https://the-migration.pages.dev/news/genius-final/https://the-migration.pages.dev/news/genius-final/Wed, 21 Oct 2026 12:00:00 +0000The first federal banking agency rule under the GENIUS Act requires full reserves at all times, a two-business-day redemption ceiling and new stress testing. It takes effect January 18, 2027.https://the-migration.pages.dev/news/korea-krw/https://the-migration.pages.dev/news/korea-krw/Tue, 20 Oct 2026 12:00:00 +0000Injective and Korean custodian BDACS signed an MOU to make the won-backed KRW1 the settlement asset for real-world assets on Injective, starting with approved institutions, as South Korea drafts its Digital Asset Basic Act.https://the-migration.pages.dev/news/jpm-eth/https://the-migration.pages.dev/news/jpm-eth/Mon, 19 Oct 2026 12:00:00 +0000JPMorgan's USD deposit token is now on Ethereum mainnet for approved institutional clients, alongside its tokenized money market funds. Days later, MONY and JLTXX became available on Solana to qualified U.S. investors.https://the-migration.pages.dev/news/blackrock-collateral/https://the-migration.pages.dev/news/blackrock-collateral/Mon, 19 Oct 2026 12:00:00 +0000BlackRock says its tokenized funds are already pledged as collateral in digital-asset markets and sees traditional margin and financing as the next step. BUIDL has grown to about $2.3B since 2024.https://the-migration.pages.dev/news/research-forecasts/https://the-migration.pages.dev/news/research-forecasts/Sun, 18 Oct 2026 12:00:00 +0000Deutsche Bank Research projects tokenized assets excluding stablecoins could reach $4T by 2035. Morgan Stanley's head of digital asset strategy expects $3–10T by 2030. The IMF counted about $65B in July using a broader method.https://the-migration.pages.dev/news/earnings-calls/https://the-migration.pages.dev/news/earnings-calls/Sat, 17 Oct 2026 12:00:00 +0000Tokenization came up on Q3 earnings calls as an opportunity rather than a threat. Morgan Stanley now expects to support tokenized equities on its trading system in Q1 2027.