RWA Tokenization Insights by Particula

BaFin Licenses Boerse Stuttgart's Seturion Under EU DLT Pilot Regime BaFin granted Boerse Stuttgart's Seturion the fifth DLT Trading and Settlement System license under the EU DLT Pilot Regime, the first for a European exchange group, as the regime's EUR 6B cap is debated at EUR 100B (Commission) versus EUR 300B (finance ministers). - Link

JPMorgan Extends JPMD Deposit Token to Ethereum JPMorgan brought its USD deposit token JPM Coin (JPMD) to Ethereum for institutional clients on October 19, 2026, which would be the first GSIB deposit token on Ethereum, giving holders a direct claim on the bank rather than a stablecoin issuer. - Link

Ondo Intelligent Portfolios Pass $20M TVL in Under a Month Ondo Intelligent Portfolios passed $20M TVL in under a month; three of the seven tokenized portfolios use BlackRock-developed strategies, with auto-rebalancing and permissionless access via wallets and DeFi apps. - Link

VersaBank Enters Commercial Phase of Its US Tokenized Deposit Program VersaBank plans to issue blockchain-based US dollar deposits and offer its technology to other banks, with its US tokenized deposit program entering the commercial phase. - Link

SEC Questions Whether DeFi Lending Vaults Holding Securities Fall Under Its Oversight Crypto lending vault deposits grew from about $4B to more than $10B, and depositors face tokenized private credit and illiquid-collateral risk under curator-set limits, drawing regulatory scrutiny. - Link

Paxos Labs' Gold-Backed PAXGy Goes Live on Pendle With January 2027 Maturity PAXGy, backed by PAX Gold, can now be traded or fixed as tokenized gold yield on Pendle with a 28 January 2027 maturity. - Link

Victory Park Capital Launches VALTS Tokenized Private Credit Feeder Fund on Stellar Victory Park Capital launched VALTS, a tokenized feeder fund giving exposure to private asset-backed credit on Stellar, subject to the fund's offering documents and investor restrictions. - Link

Plume Lists FALX Structured Credit Facility With Borrowing on Morpho Plume's FALX facility gives exposure to overcollateralized FalconX loans, and holders can borrow stablecoins against it on the Aerie Capital curated Morpho market. - Link

Brazil's CVM Launches Simulated Tokenization Pilots for Capital Markets Brazil's securities regulator CVM is running simulated DLT pilots for capital markets, following its earlier working group on tokenization regulation and sandbox. - Link

New York Life's $HYB High-Yield Bond Fund Goes Live on Stellar via Centrifuge Centrifuge tokenized New York Life Investments' actively managed high-yield corporate bond strategy as $HYB on Stellar, with a $deHYB wrapper for DeFi use. - Link

Nine Issuers Now Object to OKX-ICE Tokenized Stock Venture, Including CoreWeave and Broadcom Nine issuers now object to the OKX-ICE tokenized stock venture, including CoreWeave and Broadcom; each objection bars that stock token from trading under the SEC's conditional exemption, up from Cerebras alone earlier this month. - Link

Pendle Opens Fixed-Yield Markets on Bitwise's Leveraged Private Credit Vault PPLUS PPLUS, designed by Bitwise and run on Ember, holds Huma PST, sUSDai and Hastra PRIME with leverage, targets over 10% APY and matures in January 2027; Pendle has opened fixed-yield markets on it. - Link

BNY and Citadel Securities Settle Tokenized 2-Year Treasury in Triparty Repo BNY tokenized a 2-year US Treasury note on its private ledger, settled it within minutes, and used it as collateral on a major triparty repo platform with Citadel Securities. - Link

Securitize: Ripple Prime Plans to Support Securitize Stocks Ripple Prime, which clears and finances trades across traditional and digital markets, plans to support Securitize Stocks and explore bringing them into its broader trading ecosystem. - Link

ECB's Lagarde Signals ESM Tokenized Issuance on Eurosystem Pontes ECB President Lagarde hinted at upcoming European Stability Mechanism tokenized issuance settled in central bank money on Pontes, with no instrument type or size given. - Link

Ondo Passes $4B TVL With $1.3B+ in Tokenized Stocks and ETFs Ondo reports $4B in TVL across tokenized Treasuries, stocks, ETFs and private markets, with tokenized stocks and ETFs above $1.3B and Treasuries near $3B. - Link

Pendle Lists Ondo's Tokenized Franklin Templeton High-Yield Bond ETF FLHYon Pendle opened a market on Ondo's FLHYon, a tokenized Franklin Templeton high-yield corporate bond ETF maturing 10 December 2026, letting coupon and principal exposure trade separately onchain. - Link

Pendle Lists Ondo's Tokenized Franklin Templeton High-Yield Bond ETF FLHYon Pendle opened a market on Ondo's FLHYon, a tokenized Franklin Templeton high-yield corporate bond ETF maturing 10 December 2026, letting coupon and principal exposure trade separately onchain. - Link

Centrifuge's deJAAA and deSPXA Become USDC Collateral on Hyperdrive Holders of Centrifuge's AAA CLO token deJAAA and S&P 500 index token deSPXA can now borrow USDC against them on Hyperdrive's lending markets on Base. - Link

Alpaca Plans Prime Brokerage Services on Tokenized Stock Growth Alpaca plans to launch prime brokerage offerings as crypto and traditional equity trading converge, driven by growth in tokenized stocks, per Bloomberg. - Link