Wall Street Accelerates Its Embrace of Blockchain: From the Tokenization of $30 Trillion in Assets to the Boom in Stablecoin Payments
I. Blockchain Moves by Traditional Financial Giants
The Depository Trust & Clearing Corporation (DTCC) in the United States officially opened commercial access to its tokenization services this month, covering about $30 trillion in assets, including U.S. Treasuries and major ETFs, running on the Canton and Besu blockchain platforms. This move marks tokenized assets entering the core clearing and settlement infrastructure of Wall Street.
Meanwhile, JPMorgan announced that it is expanding its deposit token JPM Coin to Ethereum mainnet, providing institutional clients with 24/7 on-chain dollar transfer and settlement services. This token represents customers' dollar deposits at JPMorgan and is primarily aimed at large crypto-industry clients for on-chain payments and tokenized asset settlement. These actions show that traditional financial institutions are shifting from watching from the sidelines to deep participation.
II. Explosive Growth in Stablecoin Payments
In the first three quarters of 2026, stablecoin payment volume reached $482 billion, up 45% year over year, while transaction count surpassed 1 billion, an increase of 71%. Mastercard, Stripe, and Visa each launched stablecoin payment integrations this week, while Circle plans to expand its business into about 40 emerging markets in Southeast Asia, Latin America, Africa, and the Middle East.
Stablecoins are evolving from crypto trading tools into an important part of global payment infrastructure. However, research from the Bank for International Settlements also points out that for every 1 basis point increase in bank deposit rates, the 10-week growth rate of stablecoins falls by about 3 percentage points, indicating that traditional financial policy will still have a significant impact on crypto payments.
III. Market Volatility and Institutional Fund Flows
Despite frequent institutional moves, the crypto market has recently experienced sharp volatility. Altcoins fell more than 5% over the weekend, marking the largest two-day decline since April 2026, as stock market panic triggered by a selloff in Nasdaq chip stocks spread into the crypto market.
More notable is that U.S. spot Bitcoin ETFs saw about $910 million in outflows over two consecutive weeks, with BlackRock's IBIT alone seeing $165 million in outflows last week, disappointing market expectations for an "Uptober" seasonal rebound. The situation for Ethereum ETFs is even more severe, with $320 million in outflows last week, marking three consecutive weeks of net outflows and bringing total ETH ETF redemptions in October to nearly $1 billion.
Even so, corporate buyers such as Strategy continue to accumulate Bitcoin, partially offsetting selling pressure from institutions. Binance co-founder CZ publicly supported assets such as XRP, SOL, and ZEC, drawing community attention during the market pullback; after a 22.5% correction, XRP attracted $184 million in speculative buying.
IV. New Opportunities in Tokenized U.S. Stocks
In the tokenization space, beyond putting traditional financial assets on-chain, tokenized U.S. stocks are also developing rapidly. Platforms currently already offer a variety of tokenized stocks such as EEM, MRNA, and LIN, giving investors a new way to trade U.S. equities 24 hours a day. Tokenized assets such as Q, BR, and KORU have posted notable gains recently, rising 25.3%, 25.2%, and 16.8% respectively, showing strong market enthusiasm for this innovative form.
The minutes of Japan's Financial Services Agency on-chain finance forum also indicate that Asian regulators are actively exploring blockchain applications in finance, which will further drive the development of tokenized assets globally.
V. Outlook and Reflections
The crypto market is currently at a critical turning point: on one hand, traditional financial giants are entering the blockchain space at scale, and tokenized assets and stablecoin payments are becoming mainstream; on the other hand, market volatility and regulatory uncertainty still remain.
For investors, it is important to recognize that institutional adoption is a long-term trend, but short-term market volatility is unavoidable. Paying attention to infrastructure-level developments such as tokenized assets and stablecoin payments may be more valuable than chasing short-term price swings.
#BitcoinSurpasses$83,000 #JapanFSAPublishesOnChainFinanceForumMinutes #TokenizedAssets
I. Blockchain Moves by Traditional Financial Giants
The Depository Trust & Clearing Corporation (DTCC) in the United States officially opened commercial access to its tokenization services this month, covering about $30 trillion in assets, including U.S. Treasuries and major ETFs, running on the Canton and Besu blockchain platforms. This move marks tokenized assets entering the core clearing and settlement infrastructure of Wall Street.
Meanwhile, JPMorgan announced that it is expanding its deposit token JPM Coin to Ethereum mainnet, providing institutional clients with 24/7 on-chain dollar transfer and settlement services. This token represents customers' dollar deposits at JPMorgan and is primarily aimed at large crypto-industry clients for on-chain payments and tokenized asset settlement. These actions show that traditional financial institutions are shifting from watching from the sidelines to deep participation.
II. Explosive Growth in Stablecoin Payments
In the first three quarters of 2026, stablecoin payment volume reached $482 billion, up 45% year over year, while transaction count surpassed 1 billion, an increase of 71%. Mastercard, Stripe, and Visa each launched stablecoin payment integrations this week, while Circle plans to expand its business into about 40 emerging markets in Southeast Asia, Latin America, Africa, and the Middle East.
Stablecoins are evolving from crypto trading tools into an important part of global payment infrastructure. However, research from the Bank for International Settlements also points out that for every 1 basis point increase in bank deposit rates, the 10-week growth rate of stablecoins falls by about 3 percentage points, indicating that traditional financial policy will still have a significant impact on crypto payments.
III. Market Volatility and Institutional Fund Flows
Despite frequent institutional moves, the crypto market has recently experienced sharp volatility. Altcoins fell more than 5% over the weekend, marking the largest two-day decline since April 2026, as stock market panic triggered by a selloff in Nasdaq chip stocks spread into the crypto market.
More notable is that U.S. spot Bitcoin ETFs saw about $910 million in outflows over two consecutive weeks, with BlackRock's IBIT alone seeing $165 million in outflows last week, disappointing market expectations for an "Uptober" seasonal rebound. The situation for Ethereum ETFs is even more severe, with $320 million in outflows last week, marking three consecutive weeks of net outflows and bringing total ETH ETF redemptions in October to nearly $1 billion.
Even so, corporate buyers such as Strategy continue to accumulate Bitcoin, partially offsetting selling pressure from institutions. Binance co-founder CZ publicly supported assets such as XRP, SOL, and ZEC, drawing community attention during the market pullback; after a 22.5% correction, XRP attracted $184 million in speculative buying.
IV. New Opportunities in Tokenized U.S. Stocks
In the tokenization space, beyond putting traditional financial assets on-chain, tokenized U.S. stocks are also developing rapidly. Platforms currently already offer a variety of tokenized stocks such as EEM, MRNA, and LIN, giving investors a new way to trade U.S. equities 24 hours a day. Tokenized assets such as Q, BR, and KORU have posted notable gains recently, rising 25.3%, 25.2%, and 16.8% respectively, showing strong market enthusiasm for this innovative form.
The minutes of Japan's Financial Services Agency on-chain finance forum also indicate that Asian regulators are actively exploring blockchain applications in finance, which will further drive the development of tokenized assets globally.
V. Outlook and Reflections
The crypto market is currently at a critical turning point: on one hand, traditional financial giants are entering the blockchain space at scale, and tokenized assets and stablecoin payments are becoming mainstream; on the other hand, market volatility and regulatory uncertainty still remain.
For investors, it is important to recognize that institutional adoption is a long-term trend, but short-term market volatility is unavoidable. Paying attention to infrastructure-level developments such as tokenized assets and stablecoin payments may be more valuable than chasing short-term price swings.
#BitcoinSurpasses$83,000 #JapanFSAPublishesOnChainFinanceForumMinutes #TokenizedAssets