News
Traditional finance moving on-chain
The stories moving finance on-chain. Every fact matches a linked source.
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DTCC's tokenization service goes live with ~$30T in eligible securities
The 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.
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Robinhood stock tokens plug into Morpho lending as collateral
Robinhood's stock tokens were connected to the Morpho lending market, expanding how tokenized equities can be used as collateral on-chain.
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Janus Henderson and Centrifuge launch licensed Nasdaq-100 fund on Stellar
Janus 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.
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Tokenized stocks get an SEC pathway, and issuers start objecting
The 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.
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HSBC puts a stablecoin in front of 3.3 million users
HSBC'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.
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Tokenized stock and ETF trading hits $37B in a quarter
Dune 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.
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OCC finalizes the GENIUS Act stablecoin rule; effective January 18
The 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.
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Korea's won stablecoin build moves to institutional MOUs
Injective 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.
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JPM Coin goes live on Ethereum; JPMorgan funds expand to Solana
JPMorgan'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.
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BlackRock wants tokenized funds to work as collateral on Wall Street
BlackRock 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.
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Bank research desks put tokenization at $3–10T within a decade
Deutsche 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.
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Goldman, Wells Fargo and Morgan Stanley call tokenization a growth play
Tokenization 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.