TradFi-Crypto Ties This Week: Bank Stablecoins, RWA Tokenization Surge

Van Thanh Le

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May 31 2025

3 weeks ago6 minutes read

Robot tokenizes XRP real estate via floating asset vault [XRP]

Cantor Fitzgerald Launches Bitcoin Lending Service, Offering Up to $2 Billion in Financing

Cantor Fitzgerald has launched its Bitcoin lending service, completing initial transactions with FalconX and Maple Finance. The firm aims to provide up to $2 billion in financing in this first phase, reinforcing its commitment to the crypto sector. Cantor's Chairman, Brandon Lutnick, emphasized the transformative potential of digital asset services. The collaboration with FalconX is positioned as a significant advancement in establishing institutional-grade credit infrastructure for digital assets. Additionally, Cantor is utilizing Anchorage Digital and Copper for asset custody and collateral management. This initiative marks a notable intersection of traditional finance and the cryptocurrency industry.

Franck Muller Launches $24K Limited Edition Solana Watch with Built-In Wallet

Swiss luxury watchmaker Franck Muller has introduced the limited edition Franck Muller 41mm Solana watch, priced at $24,331. Only 1,111 pieces will be released, each featuring a unique QR code linked to the owner’s Solana wallet. The watch boasts a stainless steel case, Swiss automatic movement, scratch-resistant sapphire crystal, and is water-resistant up to 30 meters, with customizable rubber straps. This collaboration marks a blend of traditional craftsmanship and Web3 technology, allowing users to access loyalty programs. Solana is currently valued at $177.73, with a market cap of $92.47 billion, emphasizing the convergence of luxury and digital utility.

Santander Considers Retail Crypto Services and Stablecoin Launch Amid Banking Industry Divide

Banco Santander SA is exploring the launch of a stablecoin and expanding crypto services for retail clients, particularly considering dollar and euro-pegged tokens. This initiative aligns with many banks, like JPMorgan and Bank of America, examining stablecoin issuance amid a favorable regulatory environment. Proponents believe stablecoins enhance US dollar dominance and financial inclusion. However, the banking sector is divided; some lobbyists fear these assets might erode profits and threaten traditional banking markets, especially yield-bearing stablecoins, which could disrupt the existing low-interest depositor model. Concerns raised by Senator Kirsten Gillibrand emphasize the potential risks to retail lending.

Dubai Launches First Government-Backed Property Tokenization Using XRP Ledger

Dubai’s Land Department has launched the Middle East’s first government-backed property title deed tokenization, utilizing the XRP Ledger (XRPL) for this initiative. Developed under the Real Estate Evolution Space Initiative (REES) with Ctrl Alt, the program aligns on-chain tokens with the traditional land registry, allowing fractional ownership of properties. The pilot targets AED 60 billion (approximately $16 billion) in fractional deeds by 2033. Transactions are settled in dirhams, with ownership recorded as bearer tokens on XRPL. This innovative approach aims to enhance real estate investment accessibility, streamline transactions, and maintain transparency for regulatory purposes.

A7A5 Ruble-Pegged Stablecoin Passes Audit, Confirms Full Fiat Backing and Yield Potential

The ruble-pegged stablecoin A7A5 has successfully passed an independent audit, confirming 100% fiat backing in Russian rubles. Launched under Kyrgyzstan’s regulatory framework, A7A5 offers yield potential by earning interest on reserves and distributing half of it daily to holders. Since its April debut on Meer Exchange, A7A5's circulating supply has exceeded $140 million, reflecting demand as users seek alternatives to USD-based stablecoins. Supported by Kyrgyzstan’s government and international partnerships, A7A5 aims to serve as a bridge currency in the region, with plans for further integration into decentralized finance platforms to boost liquidity and use cases.

Bitlux Launches First Cryptocurrency-Enabled Private Jet Card Program at 2025 Bitcoin Conference

Bitlux has launched the first cryptocurrency-enabled Private Jet Card Program at the 2025 Bitcoin Conference, allowing clients to make payments with Bitcoin and other cryptocurrencies. The program emphasizes transparency and control, featuring fixed hourly rates without blackout dates or extra fees, with payments held in escrow until flight completion. Customers can choose from four jet cards—Ascent, Cardinal, Sovereignty, and Nomad—corresponding to different cabin classes, with operational terms including a 48-hour callout on off-peak days. CEO Kyle Patel highlighted the aim to meet the needs of global citizens with efficient travel and modern payment options.

Thailand Introduces Crypto Payment Plans for Tourists via Linked Credit Cards

Thailand is advancing plans to facilitate crypto payments through linked credit cards for tourists, updating its approach to digital assets while ensuring merchants receive local currency. The Ministry of Finance is consulting with the Bank of Thailand to pilot the initiative efficiently. Additionally, the country aims to merge its legislation for digital and conventional securities to streamline investment processes. This follows trials in places like Phuket, where crypto payments are already in use. The government is responding to a tourism downturn by integrating crypto, similar to initiatives in other Asian nations, such as Bhutan's recent comprehensive crypto payment rollout for tourists.

StegX to Tokenize $100M in Real-World Assets on Hedera, Boosting Institutional Access

On May 29, 2025, the Hedera Foundation announced a partnership with real estate platform StegX to tokenize $100 million in real-world assets (RWA) on the Hedera network. This initiative includes collaboration with Zoniqx, a firm specializing in bridging RWAs to decentralized finance via compliant blockchain infrastructure. They will utilize the ERC-7518 standard to ensure jurisdiction-aware compliance and automate KYC/AML processes, addressing barriers for institutional investors. This development marks a significant step forward in asset tokenization, promoting a regulated and efficient marketplace for premium tokenized RWAs and enhancing Hedera's traction in this emerging market.

Uphold to Launch XRP Yield Staking and Relaunch Crypto Debit Card in U.S.

Uphold announced plans to unlock yield on XRP by testing staking through the Flare Network, enhancing its crypto offerings. The company is also set to relaunch its crypto debit card in the U.S., currently limited to the UK, allowing users to spend their digital assets. Following a favorable regulatory environment since Donald Trump's presidency, Uphold reinstated staking rewards for 19 digital assets, including Ethereum and Solana. Additionally, users can expect direct deposits with rewards, including a notable 4% XRP-back offer and 5% rewards on the Ripple USD stablecoin (RLUSD), reinforcing Uphold's commitment to expanding its U.S. services.

Circle Plans $600M NYSE IPO Targeting $5.4B Valuation, Acquires Hashnote for $100M

Circle plans a $600 million IPO on the NYSE, targeting a $5.4 billion valuation by offering 24 million shares priced between $24 and $26. This comes as the company reaffirms its independence amidst acquisition speculation from Coinbase and Ripple. Its stablecoin, USDC, has a market cap of $62.1 billion, making it the second-largest after Tether. The IPO is underwritten by JPMorgan, Goldman Sachs, and Citigroup, with CEO Jeremy Allaire highlighting goals of transparency. Additionally, Circle acquired Hashnote for $100 million, including cash and shares, which may impact the performance of Hashnote's USYC against competitors.

BlackRock to Acquire 10% Stake in Circle's $624 Million IPO Amid High Demand

BlackRock plans to acquire a 10% stake in Circle Internet Group's upcoming IPO, which aims to raise up to $624 million. The offering, priced on June 4, has seen high demand with orders exceeding available shares. Investment firm Ark Invest, led by Cathie Wood, may contribute up to $150 million. This partnership highlights traditional finance's growing alignment with crypto firms. U.S. lawmakers are advancing stablecoin legislation mandating full cash and safe asset backing, enhancing investor confidence. Circle's USDC stablecoin is backed by reserves in a government money market fund managed by BlackRock, which holds nearly $30 billion in assets.

DeFi Development Corp First Publicly Traded Firm to Acquire Liquid Staking Tokens on Solana

DeFi Development Corp, a Nasdaq-listed firm, has become the first publicly traded company to own liquid staking tokens (LSTs) on Solana, enhancing its treasury management by adopting dfdvSOL, an LST from Sanctum. The company currently holds 609,190 SOL, valued at approximately $105.8 million, following a recent purchase of 16,447 SOL on May 15. It raised $24 million in a private placement to further accumulate Solana. Despite this progress, DeFi Development's stock dropped 16.95% to $22.19, reflecting market volatility, while Solana's price fell 0.7% to $173.4, with a market cap of $90.3 billion.

Bybit Secures MiCA License and Opens Vienna HQ to Enhance European Crypto Services

Bybit has secured a MiCA license from Austria’s Financial Market Authority, allowing it to operate crypto services across all 29 EEA member states. The exchange has opened its European headquarters in Vienna, signaling a commitment to compliance and regulatory standards. Bybit plans to invest significantly in Austria, hiring over 100 professionals and fostering the local crypto ecosystem through its Blockchain for Good Alliance. This move follows a challenging period for Bybit, which faced a significant security breach, with over $1.4 billion withdrawn from the platform. Bybit continues to expand globally, including efforts in Asia.

Ledger Launches CL Card in U.S. for Crypto Spending and Cashback

Ledger has announced the upcoming release of the CL Card for U.S. residents, created in collaboration with Baanx Group. This innovative card enables users to spend cryptocurrency at over 90 million merchants via the Visa network. Key features include earning 1% cashback in bitcoin and the ability to convert paychecks directly to crypto through bank transfers. Users will securely manage and top up their CL Card using the Ledger Live app in conjunction with their Ledger wallet. Currently, a waitlist is open for U.S. residents, except for those in New York and Vermont, as Ledger aims to enhance crypto adoption.

This article has been refined and enhanced by ChatGPT.