# RWA Related Articles

HTX News Center provides the latest articles and in-depth analysis on "RWA", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

BNB Chain Annual Review: Daily Active Addresses Lead Among L1s, Stablecoin Supply Doubles

BNB Chain achieved significant growth in 2025, establishing itself as a leading Layer 1 blockchain with record-breaking metrics. It recorded the highest daily active users (DAU) among all L1s, peaking at 5 million, and maintained a 22.6% market share. Its Layer 2 solution, opBNB, also led in DAU among L2s. Total DEX trading volume surpassed $2 trillion, with 2025 volume reaching approximately $680 billion. Meme coins were a major driver of activity, with BNB Chain一度 surpassing Solana and Ethereum in meme trading volume. Infrastructure like the Four.Meme launchpad and zero-fee campaigns fueled this trend. Stablecoin performance was particularly strong, with total supply doubling to $14 billion. Monthly active addresses for stablecoins ranked first among all blockchains, supported by low fees and initiatives like the "0 Gas Fee Carnival." BNB Chain also emerged as a key platform for Real-World Assets (RWA), with a market cap of $1.74 billion and TVL surging 1,510% quarter-over-quarter. Major institutional entries included BlackRock's BUIDL fund and partnerships with Ondo Finance and Circle. Perpetuals trading grew steadily, with Aster becoming a flagship protocol. Despite challenges, BNB Chain solidified its role as a multi-chain infrastructure hub in Web3.

深潮Yesterday 09:52

BNB Chain Annual Review: Daily Active Addresses Lead Among L1s, Stablecoin Supply Doubles

深潮Yesterday 09:52

When Nasdaq Starts 'Putting Stocks on the Chain', What Are We Really Welcoming?

Nasdaq is advancing a proposal to move U.S. stock settlement onto the blockchain, which could fundamentally reshape the infrastructure of American capital markets. This shift aims to replace the current slow, manual, and multi-layered clearing system with real-time, automated on-chain settlement. While many discussions focus on surface-level changes like 24/7 trading, the core transformation is structural: moving from outdated T+2 (or even T+1) settlement to instantaneous, programmable, and transparent ledger-based clearing. This isn’t about making stocks “more Web3” but modernizing a financial system that still relies on processes from the 1970s. The existing system—with its custodians, sub-custodians, and clearing intermediaries—creates operational friction, risk, and cost, as seen during events like the GameStop trading halts and the FTX collapse. On-chain settlement could reduce the need for traditional custodial roles, compress arbitrage opportunities built on settlement delays, and turn static securities into dynamic, composable financial instruments. The move faces significant resistance from entrenched intermediaries who profit from the current structure, but the direction of change appears inevitable. As demonstrated by Hong Kong’s recent issuance of a green bond settled in one second (versus five days), tokenization of traditional assets is becoming an operational reality—not a conceptual experiment. When stocks migrate on-chain, other assets like bonds and derivatives may follow, leading to a quiet but profound shift in how global markets function. This isn’t just a change in technology; it’s a change in the nature of finance itself.

cointelegraph_中文Yesterday 10:33

When Nasdaq Starts 'Putting Stocks on the Chain', What Are We Really Welcoming?

cointelegraph_中文Yesterday 10:33

Crypto Morning Brief: HashKey Discloses IPO Details, SEC Concludes Two-Year Investigation into Ondo

Crypto Briefing: HashKey Group, the parent company of Hong Kong's licensed exchange HashKey Exchange, has disclosed its public offering details, aiming to raise up to HK$1.67 billion with trading expected to begin on December 17. In regulatory developments, the U.S. SEC has closed its two-year investigation into Ondo Finance without filing charges, continuing a trend of dropped cases under its current leadership. Meanwhile, the CFTC launched a digital asset pilot program allowing Bitcoin, ETH, and USDC as collateral in derivatives markets. Major U.S. bank CEOs are set to meet with senators to discuss crypto legislation, focusing on stablecoin regulations. In other news, Bittensor will undergo its first token halving on December 14, reducing daily TAO issuance to 3,600. Binance confirmed an employee misused internal information for personal gain and has suspended them. MicroStrategy purchased an additional 10,624 BTC, bringing its total holdings to 660,624 BTC. Ripple completed a $500 million share sale with special investor protection clauses. Market commentary included a UAE official calling Bitcoin a key pillar of future finance, while Chinese media warned against risks in currency innovation.

深潮20h ago

Crypto Morning Brief: HashKey Discloses IPO Details, SEC Concludes Two-Year Investigation into Ondo

深潮20h ago

China's Stablecoin Window Closes: A Regulatory Drama Long Written

China's regulatory crackdown on stablecoins marks a definitive shift from targeting speculative trading to safeguarding national financial sovereignty. The recent coordinated ban, emphasized by former central bank officials, underscores that private stablecoins—even those pegged to the yuan—are seen as threats to state-controlled currency issuance and financial stability. Authorities argue that dollar-dominated stablecoins like USDT and USDC facilitate capital flight and expose China to external risks, while domestic alternatives are deemed redundant given the advanced digital yuan (e-CNY) infrastructure. The policy aims to isolate China’s financial system from global crypto influence, preventing "digital dollar colonization" and curbing underground activities like money laundering. However, potential downsides include technological isolation from blockchain innovation, increased opacity in illicit transactions, and reduced influence in global digital currency developments. For industry participants, the message is clear: abandon gray-area operations, avoid RWA tokenization of Chinese assets, and focus either on offshore hubs like Hong Kong or compliant domestic channels like e-CNY integration. The era of ambiguity is over, forcing a choice between exiting entirely or operating within strict regulatory boundaries.

比推15h ago

China's Stablecoin Window Closes: A Regulatory Drama Long Written

比推15h ago

RWA Weekly Report | US CFTC Launches Digital Asset Collateral Pilot Program, Spot Cryptocurrency Now Trading on CFTC-Registered Exchanges (12.3-12.9)

RWA Market Weekly Summary (Dec 3–9, 2025) The RWA market stabilized this week, with total on-chain Distributed Asset Value rising slightly to $18.44 billion. The number of asset holders increased by 6,130 to 561,558. Stablecoin market capitalization grew to $301.92 billion, with holders surging by 2.06 million to 207.75 million. U.S. Treasury tokenization slightly to $88 billion, while private credit rebounded to $22 billion. Key developments include the U.S. CFTC launching a digital asset collateral pilot program, allowing BTC, ETH, and USDC to be used as margin in regulated derivatives markets. The CFTC also approved spot cryptocurrency trading on its registered exchanges. U.S. lawmakers urged regulators to implement stablecoin rules under the GENIUS Act by July 2026. Meanwhile, former PBOC deputy governor Wang Yongli reiterated China's firm opposition to stablecoins, emphasizing the development of the digital yuan. In Europe, a consortium of banks plans to launch a euro stablecoin in 2026. South Korea's ruling party proposed a stablecoin bill requiring commercial banks to hold at least 51% ownership in issuers. The IMF warned that widespread stablecoin adoption could weaken central banks' monetary control. In project news, the SEC closed its investigation into Ondo Finance without action, and MSX (STONKS) reached a record $2 billion in daily trading volume.

Odaily星球日报13h ago

RWA Weekly Report | US CFTC Launches Digital Asset Collateral Pilot Program, Spot Cryptocurrency Now Trading on CFTC-Registered Exchanges (12.3-12.9)

Odaily星球日报13h ago

Where Will the Money for the Next Bull Market Come From?

Where Will the Money for the Next Crypto Bull Run Come From? Bitcoin's sharp decline from $126,000 to $90,000 has caused panic and a liquidity crunch. However, structural tailwinds are emerging: the SEC plans an "Innovation Exemption" rule, the Fed is expected to begin a rate-cutting cycle, and global institutional pathways are maturing. The myth of Digital Asset Treasuries (DATs) is fading. Their buying power is insufficient (under 5% of the crypto market) and they can become net sellers during downturns. The real catalysts are institutional. The end of Fed quantitative tightening and potential rate cuts could inject liquidity. A crypto-friendly Fed leadership could further open the banking system to crypto. The SEC's shifting stance, moving crypto from a "threat" to a regulated asset class, reduces compliance barriers. Three key pipelines could deliver the next wave of capital: 1. **Institutional Entry:** Global Bitcoin and Ethereum ETFs provide a standardized entry point. Mature custody and settlement infrastructure (e.g., from BNY Mellon) enables efficient capital deployment. Even a 1-3% allocation from pensions and sovereign wealth funds would represent trillions. 2. **Real-World Assets (RWA):** Tokenizing traditional assets (bonds, real estate) creates a bridge to TradFi. The RWA market, projected to grow 50x to multi-trillions by 2030, offers massive, stable, yield-bearing assets for DeFi (e.g., MakerDAO's use of U.S. Treasuries). 3. **Infrastructure Upgrades:** Layer 2 solutions reduce costs and speed up transactions for institutional use. Stablecoins, with a $166B market cap and $4T in on-chain volume, have become a pillar for compliant, efficient settlements. The money is expected to arrive in phases: a short-term policy-driven rebound (2025-2026), followed by gradual institutional allocation (2026-2027), and finally long-term structural growth powered by RWA integration (2027-2030). The next bull run will be built not on retail speculation, but on institutional trust and infrastructure.

深潮11h ago

Where Will the Money for the Next Bull Market Come From?

深潮11h ago

Retail Investors Are Leaving, What Will Drive the Next Bull Market?

A significant market correction has seen Bitcoin drop 28.57% from $126,000 to $90,000, causing panic, liquidity drying up, and widespread deleveraging. However, structural positives are emerging: the U.S. SEC plans an "Innovation Exemption" in January 2026 to ease compliance, and the Federal Reserve is expected to end quantitative tightening and begin rate cuts, potentially boosting risk assets. The previous retail and leverage-driven bull cycle is unlikely to repeat. While over 200 companies hold $115 billion in crypto via Digital Asset Treasury (DAT) strategies, this represents less than 5% of the crypto market and is insufficient to fuel the next bull run. Instead, three key institutional pipelines are being established: 1. **Institutional Entry via ETFs and Infrastructure**: Global Bitcoin and Ethereum ETFs provide a standardized investment channel. Improved custody and settlement solutions (e.g., from BNY Mellon, Anchorage Digital) enable efficient capital deployment. Pension funds and sovereign wealth funds may soon allocate 1-3% to crypto, potentially moving trillions of dollars. 2. **Real World Assets (RWA) Tokenization**: Tokenizing traditional assets (bonds, real estate) onto blockchains could grow the RWA market from $309 billion today to $4-30 trillion by 2030. Protocols like MakerDAO using U.S. Treasuries as collateral bridge DeFi with traditional finance, offering stable yields and reducing volatility. 3. **Infrastructure Upgrades**: Layer 2 solutions reduce transaction costs and times, crucial for institutional scale. Stablecoins, with a $1.66 trillion market cap and $4 trillion in on-chain volume, have become pillars for cross-border payments and liquidity, especially as regulators mandate full reserve backing. Short-term, Fed policy and SEC rules may drive a speculative rebound in early 2026. Medium-term, gradual institutional capital will provide stability. Long-term, RWA integration could structurally anchor crypto to global finance, enabling sustainable, trillion-dollar growth. The market's evolution from speculation to infrastructure marks its path to maturity.

marsbit1h ago

Retail Investors Are Leaving, What Will Drive the Next Bull Market?

marsbit1h ago

活动图片

Technology Trends

Ethereum