The Plumeberg News — 11.10.2024

The Plumeberg News offers weekly insights into the Real World Asset Finance (RWAfi) sector, carefully curated by the Goonheads specifically for PLUME GOONS.

Here is an overview of what the Plumeberg News will cover:

1. Weekly RWA Highlights
2. RWAfi Market Commentary
3. Narrative Overview
4. RWAfi Category Insights
5. Tokenized Assets Analytics

1）Weekly RWAfi Highlights

Credbull Launches $500M Private Credit Fund with High Yield on Plume Network

Credbull has introduced LiquidStone, a private credit facility offering fixed high-yield returns of 10% annually with daily redemptions on Plume Network. Initially capped at $100M, the fund aims to reach $500M by Q1 2025, offering a 15% yield on a 90-day term. The fund supports retail and institutional investors, with collateralized on-chain lending and trade financing solutions. This move expands blockchain-based private credit, an industry currently valued at $9B, with Plume focusing on RWA finance.
Read more: coindesk.com

Binance Research: Growth in RWA Token Market Surpasses $12 Billion

The Real World Asset (RWA) token market has surpassed $12 billion, led by the tokenization of assets like US government bonds and real estate. Binance Research highlights the crucial role of institutions such as BlackRock and Franklin Templeton in bridging traditional finance with DeFi. Plume Network has also set an ambitious goal to tokenize $1.25 billion in RWAs by Q4 2024.
Read more: en.cryptonomist.ch

RWA Issuer Midas Expands Tokenized Products to Retail Users with Regulatory Approval in Europe

Midas has gained regulatory approval in Liechtenstein to issue tokenized U.S. Treasury bills and yield-bearing products to retail users, removing the $100,000 minimum investment and accreditation process. These tokens, including mTBILL and mBASIS, are now available globally (excluding the U.S. and sanctioned countries) with a simplified “one-click” process. Backed by BlackRock’s ETF, mTBILL has attracted $5 million in deposits.
Read more: coindesk.com

Xalts Partners with Polygon to Boost Blockchain Adoption for Financial Institutions

Xalts has partnered with Polygon to integrate its blockchain into the RWA Cloud platform, aiming to enhance tokenization and reduce developer costs. This collaboration will develop institutional applications, allowing enterprises and regulators to adopt blockchain and tokenization more seamlessly. Key financial authorities, such as HKMA and MAS, are supporting these initiatives, signaling the potential for broader industry adoption.
Read more: coinspeaker.com

Solana Onchain U.S. Treasuries Up 102% This Month — Driving Factors Behind RWA Growth

Solana’s onchain U.S. Treasury assets have surged by 102% in the last 30 days, with the majority driven by Ondo Finance’s $USDY, which dominates 89% of Solana’s RWA market. The $USDY token supply increased by 117%, reaching over 100M tokens. This growth coincides with Ondo’s participation in the Sky Ecosystem’s Tokenization Grand Prix. Competitors like Solayer are also entering the space with new stablecoins, further boosting the RWA sector on Solana.
Read more: solanafloor.com

Hex Trust Teams Up with Clearpool to Launch Ozean Blockchain

Hex Trust and Clearpool have partnered to launch Ozean, a blockchain platform focused on RWA income. Ozean is powered by the CPOOL token and supported by Optimism, leveraging Clearpool’s lending expertise and Hex Trust’s institutional client base. With over $620 million in loans originated by Clearpool, and Hex Trust managing over $5 billion in assets, Ozean aims to unlock significant opportunities in the RWA market.
Read more: coinscreed.com

RWA Platform Jade City Ships First Batch of Jade to China

Jade City, an RWA platform, has completed its first shipment of jade to Guangdong, China, marking a key step in its goal to tokenize the $50 billion jade market. The platform will offer investors access to jade-backed bonds, providing high yields and tradable tokens. With over 550,000 kg of jade from its partner mine, Jade City aims to democratize and bring transparency to the jade industry, leveraging blockchain technology.
Read more: cryptonews.com

LatAm Bank Littio Switches to Avalanche as RWA Vault Demand Grows

Colombian neobank Littio has shifted from Ethereum to Avalanche to meet the growing demand for its Yield Pots, which offer interest on U.S. dollar deposits backed by U.S. Treasury bills. The switch was driven by Avalanche’s lower transaction fees and scalability. In partnership with OpenTrade, Littio has facilitated over $80 million in transactions since February, appealing to users across Latin America amid currency instability.
Read more: coindesk.com

Solayer Launches sUSD: Earn Interest on Solana

Solayer has introduced sUSD, a tokenized asset that allows users to earn interest similar to U.S. Treasury Bills while using the Solana blockchain. With the ability to restake earnings, sUSD helps users grow their digital assets over time. The launch, supported by OpenEden Labs, marks a significant advancement in Solana’s RWA ecosystem, offering a secure way to earn while participating in blockchain technology.
Read more: altcoinbuzz.io

Visa Enters the Real World Assets Market With New Tokenized Asset Platform

Visa has launched the Visa Tokenized Asset Platform (VTAP) in partnership with BBVA, enabling banks to issue real world asset-backed tokens and connect with crypto ecosystems. VTAP aims to bridge traditional finance and blockchain, with a focus on stablecoins in the growing RWA market. The platform is in early testing, with a broader rollout planned in 2025 following BBVA’s pilot phase. Visa’s entry into RWAs could open up significant opportunities in the expanding market.
Read more: beincrypto.com

2）RWA Market Commentary

1. Growth and Institutional Adoption
The Real World Asset (RWA) sector continues to gain momentum, surpassing $12 billion in market capitalization as institutions like BlackRock and Franklin Templeton integrate traditional assets with blockchain technology. Plume Network, a key player in RWA tokenization, has set a goal to tokenize $1.25 billion by Q4 2024, further solidifying institutional interest and adoption. Visa’s entrance into the RWA market through its Visa Tokenized Asset Platform (VTAP) signals broader participation from financial giants. This growing interest from established institutions is expected to catalyze blockchain adoption across traditional finance.

2. Challenges and Opportunities in RWA Implementation
While the RWA sector shows promising growth, regulatory hurdles and scalability remain a challenge. For instance, Midas secured regulatory approval in Liechtenstein to simplify access to U.S. Treasury-backed tokens for retail users, removing high barriers like minimum investments. Xalts and Polygon are addressing scalability concerns by reducing developer costs for institutional applications. Additionally, the switch of Littio from Ethereum to Avalanche highlights the importance of low transaction fees and network scalability in expanding RWA platforms.

3. Sector-Specific Dynamics
Private credit is emerging as a dominant player within the RWA space. Credbull’s LiquidStone fund, launched on the Plume Network, exemplifies the sector’s expansion, offering fixed high-yield products backed by on-chain collateralized assets. This new venture aims to reach $500 million by 2025, positioning itself as a leader in the private credit space. Furthermore, sectors like tokenized commodities are becoming more accessible, as demonstrated by Jade City’s shipment of 550,000 kg of jade, which aims to tokenize the $50 billion jade market and bring transparency to this traditionally opaque industry.

4. Emerging Trends and Future Outlook
Solana has emerged as a competitive platform in the RWA sector, with U.S. Treasury assets on Solana increasing by 102% in a month, primarily driven by Ondo Finance’s $USDY token. Solayer’s launch of sUSD on Solana further strengthens its RWA ecosystem, as it provides users with interest-bearing tokenized assets similar to U.S. Treasury Bills. Visa’s pilot project VTAP, set for a broader rollout in 2025, will likely drive further innovation in the stablecoin and RWA-backed token space, offering significant growth potential.

3）Narrative Overview

Top Performing narratives (7D change):

• Meme: 6%
• Gamble-Fi: 0%
• NFT: -1%
• FriendTech: -3%
• RWA: -8%

RWA Index Ranking 4th:

4）RWA Category Insights

Market Cap: $7.4B (-1.8%)

Top Gainers:

• LEOX: +7.5%
• IMO: +4.6%
• KlimaDAO: +3.9%

Market Cap Ranking:

• Mantra $OM
• Ondo $ONDO
• Pendle $PENDLE

5）Tokenized Assets Analytics

Private credit

• Active Loan Value: $9.15B
• Total Loans Value: $15.00B
• Total Loans: 1933

Tokenized Treasures

• Total Value: $2.19B (-1.27%)
• Average Yield To Maturity: 4.94%
• Holders: 6,202 (-0.69%)

Stablecoins:

• Market Cap: $171.68B (+0.4%)
• Monthly Transfer Volume: $1.45T (-6.45%)
• Monthly Active Addresses: 19.92M (9%)

Conclusion

The Real World Asset (RWA) sector continues to demonstrate resilience and growth, driven by institutional participation, increased tokenization, and innovative solutions within decentralized finance. The introduction of high-yield private credit facilities, such as Credbull’s LiquidStone on the Plume Network, signals the expanding scope of blockchain-based financial instruments. The sector’s evolution is further fueled by regulatory breakthroughs, such as Midas’ approval to issue tokenized Treasury-backed assets to retail users, lowering entry barriers and increasing accessibility.

Solana’s 102% surge in onchain U.S. Treasury assets highlights the platform’s potential to challenge Ethereum’s dominance in the RWA space, while Visa’s entry through the VTAP platform underscores the growing interest of traditional financial institutions in leveraging blockchain technology. Despite some regulatory challenges, the continuous focus on scalable, cost-effective solutions like those by Xalts and Polygon points to an ecosystem ripe for further innovation and adoption. With a market capitalization of $7.4 billion and ongoing institutional interest, RWAs are poised to become a cornerstone of blockchain finance, offering lucrative opportunities for both retail and institutional investors as this space continues to mature.