RWA Tokenization Insights by Particula

Visa Stablecoin Settlement Hits $20B Run Rate With 160+ Card Programs Visa's stablecoin settlement volume hit a $20B annualized run rate, up 15x YoY, with 160+ stablecoin-linked card programs live globally. - Link

MUFG Launches Japan's First Tokenized Money Market Fund on Progmat MUFG Asset Management launched an internal-trial tokenized MMF on Progmat, seeded with ~JPY 200M ($1.3M) in short-maturity Japanese government bonds. - Link

DBS and Citi Complete Weekend Tokenized Deposit Payment on Swift Ledger DBS and Citi settled a weekend USD tokenized deposit payment via Swift Ledger, bringing the platform to 7 live banks with 17 expected by year-end. - Link

Long.xyz Hits $1B in Tokenized Stock Volume on Robinhood Chain Long.xyz surpassed $1B in tokenized stock trading volume on Robinhood Chain, capturing ~15% of tokenized-stock DEX volume since the chain's launch. - Link

Citi Issues Tokenized Structured Note Bought by Banco do Brasil Banco do Brasil invested $5M in Citi's tokenized structured note on Euroclear's D-FMI platform on Aug 19 - a first for a Latin American institution. - Link

Robinhood Chain Leads All Chains in Fees as Tokenized Stock Wrappers Diverge From Prices Robinhood Chain hit $3.75M in daily fees, leading all blockchain networks, while its tokenized stock wrappers traded significantly off underlying share prices - with memecoins driving most activity rather than tokenized equities. - Link

DigiFT Surpasses $400M in Cumulative Primary Subscriptions DigiFT surpassed $400M in cumulative primary subscriptions settled and allocated through its regulated tokenized RWA offerings. - Link

Reserve Bank of Australia Opens Consultation on Central Bank-Backed Stablecoins The Reserve Bank of Australia opened a consultation through Oct. 30 on stablecoins backed by central bank money, flagging a reserve-segregation legal gap via issuer Forte. - Link

Reserve Bank of Australia Opens Consultation on Central Bank-Backed Stablecoins The RBA opened a consultation through Oct. 30 on stablecoins backed by central bank money, flagging a reserve-segregation legal gap via issuer Forte. - Link

South Korea Sets February 2027 Deadline for Tokenized Securities Market Launch South Korea's FSC/FSS set a February 4, 2027 deadline for phased tokenized securities issuance across bonds, MMFs and unlisted stocks, with per-deal caps near $22,000 or 5%. - Link

Securitize Signs Tokenization MoU With Dubai's VARA Securitize (~$5B in tokenized AUM) signed an MoU with Dubai's VARA to build regulated tokenized securities issuance and distribution in the emirate. - Link

21 Banks Including BofA, Citi and Goldman Commit to Joint USD Stablecoin for H1 2027 21 financial institutions including Bank of America, Citi, Wells Fargo and Goldman Sachs committed to a joint USD stablecoin venture targeting an H1 2027 launch. - Link

Neuberger Berman's Tokenized HINC Fund Becomes DeFi Collateral on Loopscale Neuberger Berman's tokenized high-yield bond fund HINC on Securitize can now be posted as collateral on Loopscale to borrow USDG at fixed rates. - Link

BNP Paribas and ABN AMRO Join CBMT Tokenized-Deposit Sandbox in Pan-European Expansion BNP Paribas and ABN AMRO joined the CBMT tokenized-deposit sandbox, expanding it pan-European, after BaFin classified CBMT as a deposit exempt from MiCA. - Link

Citi Becomes First US Bank to Process Live Transactions on Swift's Blockchain Ledger Citi processed live tokenized deposit transactions with First Abu Dhabi Bank and OCBC on Swift's blockchain platform, becoming the first US bank to transact on the network. - Link

Chainlink Brings Wyoming's FRNT Stablecoin Proof of Reserve Onchain, Exceeding GENIUS Act Requirements Wyoming's Stable Token Commission adopted Chainlink Proof of Reserve for FRNT, making it the first US public-entity stablecoin to publish verified reserve data onchain in near real-time, exceeding GENIUS Act's monthly disclosure requirement. - Link

Ondo Files Three Comment Letters With SEC and CFTC on Perpetuals, Margining and Market Data Ondo Finance filed three comment letters with the SEC and CFTC on Aug. 24 covering perpetual futures, portfolio margining and market data reporting, arguing existing security futures rules already accommodate onchain products. - Link

Securitize and Socios Partner on Regulated Tokenized Minority Stakes in Pro Sports Teams Securitize and Socios.com partnered to develop Socios Equity Tokens - regulated tokenized equity offerings for minority stakes in pro sports teams, debuting on Securitize's EU DLT Pilot-licensed trading system. - Link

Centrifuge Adds Real-Time Metrics and Credit Risk Ratings Reports to RWA App Centrifuge shipped an app update adding real-time pool metrics, per-pool credit-risk ratings reports and live fund performance reporting for RWA investors. - Link

RWA Foundation and Token Terminal Launch First Joint RWA Market Report RWA Foundation and Token Terminal launched a joint RWA market report covering the tokenized RWA sector at asset and issuer level rather than blockchain level, built on Token Terminal data. - Link