Falcon Finance said it has launched a regulated real-world asset, or RWA, tokenization rail in El Salvador, with its first use case centered on financing computing infrastructure through tokenized GPU forward contracts. The company said these assets may later be used as collateral to mint USDf. The rail is operated by licensed entity NOTA S.A.S. de C.V. and falls under the oversight of El Salvador’s Digital Assets Commission. Falcon Finance said the structure sits within the same legal framework used by Tether Gold. For the initial rollout, NEAR AI is named as the anchor buyer for computing power, while vGPU will handle equipment supply. Falcon Finance also said the platform is intended to expand beyond GPU-linked financing into sovereign debt and energy infrastructure funding in the future.

DEXE’s crash in July 2026 has triggered a broad on-chain dispute that now stretches beyond a simple market sell-off narrative. The token reached about $49.43 on July 12, then started falling on July 13. On July 21 alone, it dropped from about $46.93 to $5.648 at one point, and within 11 days from the peak it bottomed near $1.56, marking a cumulative decline of 96.8%. Several public investigations cited in the source point to large DEXE transfers from a wallet labeled “Ceffu 2” into Binance deposit infrastructure during and around the drawdown. One count tracked 797,917.24 DEXE sent in six transfers after July 13, valued at roughly $6.15 million at the time of transfer. A broader review stretching back to February 2026 identified eight routes totaling 854,149.537853 DEXE, including one transfer of about 719,727 DEXE on July 22. The core controversy is not that DWF Labs has been proven to have caused the collapse. It has not. The issue is that DWF is a formal liquidity partner of DeXe, Falcon Finance publicly supports DEXE as collateral and uses Ceffu custody and MirrorX-style exchange access, and Falcon’s public ties to DWF are unusually close. That combination has led market observers to question whether DEXE held in custody, mapped into Binance trading accounts, and later settled on-chain could have been linked to DWF, Falcon, or clients using Falcon. DWF has admitted it held short positions and sold some spot DEXE, while DeXe says neither the foundation nor the DAO treasury sold tokens.

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.

DefiLlama data shows the stablecoin sector reached $313.002 billion after $2.742 billion in weekly inflows. USDT remains the largest at $183.93 billion, while Sky’s USDS posted the biggest gain among the top ten with an 8.5% weekly rise.

Binance Research argues that 2025 was less about a clean bull run and more about crypto maturing through regulation, stablecoins, institutional access, RWA growth, and revenue-generating DeFi, creating a more constructive setup for 2026.

Falcon Finance has launched the USDf Card, opening access to verified users across more than 90 jurisdictions. The card allows users to pay with USDf for online purchases, at physical stores, and through selected mobile wallets. Falcon said nUSDf, its overcollateralized synthetic dollar, can be minted by depositing approved collateral or acquired on the secondary market and then transferred to the card. On fees, the company said the card carries no annual fee and no additional transaction charges, though foreign exchange-related costs may still apply in some cases. The launch adds a payments use case for Falcon Finance users who already hold or mint nUSDf within the protocol.

The stablecoin market fell by $3.327 billion a week after reaching a record $310.426 billion. USDT stayed flat, while USDC posted a $4.19 billion outflow, making it the main driver of the sector's contraction.

The stablecoin market saw a $1.925 billion decline this week, led by Ethena's USDe falling 7.91%. Two stablecoins—Stream Finance's XUSD and Stable Labs' USDX—lost their dollar peg. Tether still dominates with 60.09% of the $305.5 billion market.