QQQon

RWA
2026-07-24 05:47:09

RWA Weekly: South Korea Speeds Stablecoin Rules as HKDAP May Launch This Month

Real-world asset markets expanded again in the latest weekly review, with on-chain RWA capitalization rising to $36.82 billion as of July 24, 2026, according to RWA.xyz, while the number of holders climbed to 1.2541 million after a monthly net increase of more than 300,000. Stablecoins showed a more mixed picture: total market capitalization edged up to $298.75 billion, but monthly transfer volume fell 24.95% to $5.19 trillion, even as total holders increased to 276 million. On the policy front, the U.K. is preparing for a first blockchain-based gilt issuance in 2027, though progress still hinges on compliant GBP stablecoin infrastructure. South Korea, meanwhile, published a won internationalization roadmap, advanced second-stage digital asset legislation tied to stablecoins, and expanded CBDC-related payment infrastructure into private-sector use cases. At the company and product level, HSBC joined the U.K.’s Digital Securities Sandbox, BNY Mellon outlined plans for round-the-clock U.S. Treasury settlement by 2027, Mubadala Capital partnered with Coinbase on a tokenized private equity fund, and Ondo said its regulated broker-dealer subsidiary Oasis Pro Markets had received authorization to offer tokenized securities services in the U.S. In Hong Kong, local media reported that Anchorpoint, backed by Standard Chartered (Hong Kong), could announce its HKD-pegged stablecoin HKDAP as early as the end of this month.

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RWA Weekly: South Korea Speeds Stablecoin Rules as HKDAP May Launch This Month
Ondo Perps
2026-07-21 13:49:29

Ondo Perps adds tokenized stock collateral, starting with SPYon and QQQon

Ondo Perps has launched support for tokenized stocks as collateral for perpetual futures positions, letting users post Ondo Stocks assets without first converting them into stablecoins or selling existing holdings. The initial rollout covers tokenized S&P 500 ETF exposure through SPYon and tokenized Nasdaq 100 ETF exposure through QQQon. According to Ondo, the feature is designed to turn tokenized equities into productive capital inside derivatives markets rather than leaving them idle on balance sheets. Ondo Perps said cumulative trading volume on the platform has already exceeded $3.8 billion. The company said trader demand has centered on several needs: hedging stock exposure on a single venue, deeper liquidity for equity perpetuals, tighter spreads, lower slippage, execution speeds closer to centralized exchanges, 24/7 market access, and leverage of up to 20x. Ondo described the new collateral model as part of its broader “productive capital” strategy and said it aims to improve capital efficiency for tokenized equities while pushing onchain stock perpetual markets closer to the liquidity and efficiency seen in traditional derivatives. The company added that perpetual trading is only one part of a wider plan to build onchain prime brokerage infrastructure spanning trading, financing, and margin management for tokenized assets.

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Ondo Perps adds tokenized stock collateral, starting with SPYon and QQQon