USDTokenization & RWA Weekly Recap Reveals Bold Moves From JPMorgan, Robinhood
JPMorgan's Kinexys Launches Blockchain Platform to Tokenize Carbon Credits
JPMorgan’s blockchain unit, Kinexys, is collaborating with major registries like S&P Global Commodity Insights to develop a blockchain platform for tokenizing carbon credits. This initiative aims to enhance transparency, efficiency, and liquidity in the voluntary carbon market. Tokenized credits, representing one ton of CO2 reductions, will be digitally recorded and traced. JPMorgan emphasizes that current carbon markets face inefficiencies and fragmentation, proposing a unified tokenized ecosystem to counter these issues. Despite past challenges with market integrity, the bank believes improved infrastructure could revitalize the carbon asset class, which has stalled in recent years.
Robinhood Launches Tokenized U.S. Equities for Europe, Develops Layer-2 Blockchain Amid Controversy
Robinhood recently launched over 200 tokenized U.S. equities for European customers, utilizing Arbitrum’s blockchain, with low deployment fees averaging just three cents per contract. This “walled garden” approach restricts token transfers, ensuring compliance while limiting broader access. The company is also developing its own Layer-2 blockchain, focusing on instant settlement and security. Amidst competition from Bybit, Kraken, and others, Robinhood's stock surged 8% to an all-time high of $90.49. Controversy arose over unauthorized tokenized shares linked to OpenAI, stressing the importance of compliance. The developments represent a pivotal moment in the intersection of traditional finance and crypto innovation.
Hilbert Group Launches Strategic Advisory Board to Enhance Syntetika's Institutional DeFi Platform
Hilbert Group has established a strategic advisory board for its Syntetika platform, enhancing its institutional DeFi offerings. The board comprises industry leaders like Max Rabinovitch, John Lilic, Vladimir Maslyakov, and Chirdeep Chhabra, each contributing significant expertise in DeFi, Web3, and institutional finance. Syntetika aims to tokenize Hilbert Capital’s Bitcoin-denominated funds, tapping into over $10 billion in BTC flows in DeFi. CEO Barnali Biswal emphasized the board’s experience in compliance and scaling as crucial for growth. Additionally, Syntetika is launching a Whitelist Campaign for early access to its features, signaling ongoing development in compliant tokenization.
Hong Kong Introduces Third Tokenised Bond with Stamp Duty Exemption and Expanded Asset Offerings
Hong Kong is launching its third tokenised bond, featuring a stamp duty exemption for tokenised ETFs, aiming to strengthen its position as a global digital asset hub. This follows two successful tokenised green bonds issued in 2023 and 2024. The new bond allows for asset expansion into precious metals, non-ferrous metals, and solar panels, facilitating fractional ownership and 24/7 trading, thus enhancing liquidity. Key benefits include increased investor participation and financial incentives through tax exemptions. However, Hong Kong faces challenges like integrating blockchain with traditional systems and ensuring regulatory compliance for investor protection.
Backed Finance Launches xStocks: Tokenized Apple, Microsoft, and Amazon Stocks on Kraken and Bybit
Backed Finance is launching xStocks, a suite of over 60 tokenized stocks and ETFs, including major US equities like Apple and Tesla, on Kraken and Bybit. This initiative allows global users to trade these digital shares 24/5 (excluding US residents), enhancing access to American equities while adhering to regulatory standards. The stocks are backed 1:1 by the underlying assets and are also usable in DeFi protocols. Supported by the xStocks Alliance, which includes partners like Chainlink for secure price feeds, xStocks aim to democratize financial market access, promoting a more inclusive global financial system.
Gemini Launches Tokenized MicroStrategy Stock for EU Investors, Enabling 24/7 Bitcoin Exposure
Gemini launched a tokenized version of MicroStrategy's stock (MSTR) for EU investors, enabling 24/7 trading and integration with digital assets. This innovation allows indirect exposure to Bitcoin, as Strategy holds over 592,000 BTC. MSTR is currently priced at $383.88, reflecting a 3.84% increase over the past month. Analysts suggest that if Bitcoin maintains above $95,240, Strategy may qualify for the S&P 500 due to recent accounting rule changes allowing unrealized crypto gains to be included in net income. This marks Gemini's first tokenized stock, with more equities and ETFs expected soon.
SIFMA Urges SEC to Deny Crypto Firms' Requests for Tokenized Stock Exemptions
The Securities Industry and Financial Markets Association (SIFMA) has urged the SEC to reject requests from crypto firms for no-action or exemptive relief to offer tokenized stocks. SIFMA argues that such exemptions could undermine investor protections inherent in federal securities laws. SEC Commissioner Hester Peirce has suggested considering exemptive orders for blockchain-based securities, acknowledging regulatory challenges. Meanwhile, exchanges like Coinbase and Kraken are pursuing tokenized stock offerings, with Kraken recently launching a tokenized stock trading service, though not available to users in major markets including the US and Canada. SIFMA's stance emphasizes the importance of following a formal regulatory process.
Ondo Finance and Pantera Capital to Invest $250 Million in Real-World Asset Projects
Ondo Finance and Pantera Capital announced a $250 million investment in real-world asset (RWA) projects, aiming to bridge traditional financial markets and digital assets. The investment will focus on equity stakes and project tokens, enhancing Ondo's exposure to tokenized RWAs after launching a platform for onchain access to U.S. securities, including stocks and ETFs. Ondo's Chief Strategy Officer Ian De Bode emphasized the need for compelling reasons for asset holders to choose onchain methods over traditional brokerage accounts. The initiative reflects growing interest in tokenization, with other players like Coinbase and Kraken also pursuing tokenized equities.
This article has been refined and enhanced by ChatGPT.
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