RWA Weekly | 36 Stablecoin License Applications in HK; Swift Pushes Tokenized Funds
The total on-chain market cap of #RWA reached $32.56B (+12.28% WoW). #Stablecoin market cap rose to $289.86B, but on-chain activity and transfer volume declined—signaling tighter liquidity.
Regulation: The Hong Kong Monetary Authority has received 36 stablecoin license applications, with the first batch expected by early 2026. The EU plans to restrict multi-issuer stablecoins, and HK is exploring CBDC integration in future tokenized bond issuances.
Product Expansion: RWA is moving beyond fixed income into equities and index funds. @centrifuge launched an S&P 500 fund on @base, and @joinrepublic plans to tokenize equity in @animocabrands.
Institutional Adoption: @chainlink is collaborating with UBS, UK banks, and Standard Chartered to bring funds, deposits, and money market products on-chain.
Projects like @circle, @OndoFinance, and @avax are accelerating RWA infrastructure through new chain deployments and treasury strategies—solidifying RWA’s role as a core pillar of on-chain finance.
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