Hyeongseok (Erlym)

Binance’s security incident raises questions of onchain control and responsibility. ICE’s Trade[XYZ] investment signals a push into regulated U.S. onchain derivatives.

DTCC launches a service linking custodied securities to blockchains, while Securitize plans Stellar integration to expand institutional tokenized asset issuance and management.

Pakt is BOB’s financial firewall for agentic trading. This report examines its development, use cases, and the ZK and TEE architecture used to enforce trading rules and protect strategy privacy.

Explore how Chainlink’s oracles, CCIP, ACE and CRE connect traditional finance with onchain services, supporting tokenized assets through data, transfers, compliance and workflow execution.

Explore Ault’s strategy to build the OnlyBulls financial super-app and vertically integrate its services with Ault Markets and Ault Blockchain.

Solana’s tokenized asset market is expanding beyond issuance. This report maps the key vendors supporting compliance, wallets, custody, ramps, bridges, security, and orchestration.

Stablecoin competition is shifting from issuance to distribution. Issuers now compete for customers and use cases through revenue sharing and integrations with exchanges, fintechs, and payment firms.

Tokenized-asset markets are moving beyond issuance. DEXs now combine liquidity pools, professional market makers, intent execution, and routing to support trading and broader on-chain financial use.

Domains had no price until sold. Doma tokenized ownership on its own chain and split it into fractions that trade on DomainFi. Next is DAV, bundling whole portfolios into one onchain asset.

Tokenization only matters if the asset can be used. This report maps the DeFi lending and CDP protocols that accept tokenized real-world assets as collateral, and the conditions each one sets.

As AI training data runs dry, verified humans grow vital. KGeN, the largest verified human network across 60+ countries, is building a new data economy that turns their multimodal data into AI revenue

SynFutures runs the trading engine while Anchored handles issuance, uniting the minting and trading of tokenized stocks. Together they're building a unified trading layer spanning crypto to RWAs.

Compliance for tokenized assets varies with the asset's rights and where it is issued and sold. It covers investor verification, AML, transfer control, asset verification, and smart contract security.

Solana ranks third in RWA issuance value but leads in utilization, with 97% of tokenized-equity volume. This report maps the key players from issuance to use.

Today's payment rails were built for humans, not AI agents. Kite AI answers with a payment-optimized mainnet, an Agent Passport for identity and delegation, and a hub unifying fragmented standards.

Asia’s currencies, payments, and rules are fragmented by borders. Kaia unifies them onchain, turning stablecoin liquidity into a borderless capital market via DeFi.

Rather than assessing the investment merits of individual projects, this research provides a foundational framework for understanding the broader structure of the RWA ecosystem.

BOB expands Bitcoin and BTCFi from passive holding to on-chain finance via Gateway and Native BTC Vaults, enabling BTC swaps, DeFi, lending, tokenized gold, and less CEX/wrapper reliance.

Spacecoin uses LEO satellites, blockchain settlement, and SpaceRouter to tackle digital divide, censorship, surveillance, and outages from centralized telecom networks.

In recent years, the concept of “on-chain capital markets” has sat at the center of discussions around DeFi and RWAs. The narrative is straightforward: rebuilding traditional finance’s capital formati