📊 Deep Dive | RWA is shifting from “narrative” to “infrastructure”—4 data points today are worth connecting
1️⃣ South Korea’s Financial Services Commission published a roadmap for tokenized stocks, bonds, and funds, with Phase 1 set to launch in February 2027. The Korea Securities Depository is building market infrastructure based on $AVAX , covering the full lifecycle from issuance and trading to clearing and on-chain settlement;
2️⃣ Kamino data on Solana: the supply of tokenized stock loans grew about 15x in a year ($3 million → $50 million), making it the main hub for U.S. stock lending on-chain;
3️⃣ $PENDLE launched Franklin Templeton’s high-yield bond ETF (Ondo FLHYon). The 1980s bond-market practice of “stripping” principal and interest has officially moved to on-chain corporate bonds;
4️⃣ TRON settled $2.21 trillion in stablecoins in Q3, while the combined supply of USDT and USDD reached a record $93.88 billion.
📌 My take: regulation (South Korea’s roadmap), custody (DTCC on Canton), and payments (TRON) are all entering the field at once. The RWA competition has shifted from “who’s talking about it” to “whose pipes are working.” S&P’s first on-chain derivatives swap is an especially significant signal.
⚠️ Also worth watching: Fed’s Collins floated “a little more rate hiking” this year, while Saylor declared “the start of a bull market.” The tug-of-war between macro headwinds and institutional narratives is the real Q4 battleground.
NFA | DYOR
#RWA #比特币 #Solana #Avalanche #币安广场
1️⃣ South Korea’s Financial Services Commission published a roadmap for tokenized stocks, bonds, and funds, with Phase 1 set to launch in February 2027. The Korea Securities Depository is building market infrastructure based on $AVAX , covering the full lifecycle from issuance and trading to clearing and on-chain settlement;
2️⃣ Kamino data on Solana: the supply of tokenized stock loans grew about 15x in a year ($3 million → $50 million), making it the main hub for U.S. stock lending on-chain;
3️⃣ $PENDLE launched Franklin Templeton’s high-yield bond ETF (Ondo FLHYon). The 1980s bond-market practice of “stripping” principal and interest has officially moved to on-chain corporate bonds;
4️⃣ TRON settled $2.21 trillion in stablecoins in Q3, while the combined supply of USDT and USDD reached a record $93.88 billion.
📌 My take: regulation (South Korea’s roadmap), custody (DTCC on Canton), and payments (TRON) are all entering the field at once. The RWA competition has shifted from “who’s talking about it” to “whose pipes are working.” S&P’s first on-chain derivatives swap is an especially significant signal.
⚠️ Also worth watching: Fed’s Collins floated “a little more rate hiking” this year, while Saylor declared “the start of a bull market.” The tug-of-war between macro headwinds and institutional narratives is the real Q4 battleground.
NFA | DYOR
#RWA #比特币 #Solana #Avalanche #币安广场