What's moving onchain

Chronicle -> Monad. Institutional-grade oracle feeds now live for Centrifuge's deJTRSY, deJAAA, and deCRDX deRWA assets. Centrifuge brought the tokenized credit and treasury assets to Monad on April 30; Chronicle's feeds are the data layer that lets Monad lending markets, DEXes, and yield strategies actually price and use them.

Grove -> Basin. Programmable credit infrastructure fronting instant onchain stablecoin liquidity for tokenized RWA settlement. Up to $1B in committed daily liquidity, initial focus on tokenized T-bills and money market funds. Finances the settlement timing gap between transaction intent and issuer workflow completion, running alongside existing fund and transfer-agent systems rather than replacing them.

JPMorgan -> SEC. JLTXX filed (JPMorgan OnChain Liquidity-Token Money Market Fund, ticker JLTXX). Ethereum via Kinexys, ~16 bps fee, short-term US Treasuries plus repo. Built to meet GENIUS Act stablecoin reserve eligibility. JPMorgan's second tokenized MMF after MONY (Dec 2025). The same multi-rail posture BlackRock established a week earlier with BSTBL plus BRSRV, now from the largest US bank.

xStocks -> Euler. Wrapped SPYx and STRCx now live as collateral on a new Cassa-curated vault, with AUSD as the borrow asset. Fourth lending venue accepting xStocks after Jupiter Lend, Morpho, and Kamino, and the first to pair them with Agora's stablecoin instead of USDC.

Ondo Global Markets -> Hyperliquid. Tokenized stocks bridgeable to Hyperliquid's HyperEVM via LayerZero. Spot positions unlock advanced strategies for perp traders (basis trades, delta-neutral hedging). Felix and Meltfinance are among the first HyperEVM protocols to integrate Ondo tokenized stocks and ETFs. The largest tokenized US equities issuer routing into the highest-volume perp DEX.

BlackRock → SEC. Two new tokenized money market funds filed via 485APOS. BSTBL (OnChain share class of $6.1B Select Treasury fund; BNY Mellon TA; Ethereum only; fiat wire subscriptions) and BRSRV (purpose-built stablecoin reserve vehicle; Securitize TA; multi-chain; USDC subscription). Both intended as 'eligible reserve assets' for stablecoin issuers under the GENIUS Act. Parallel rails to BUIDL, not extensions of it.

Bitwise → Superstate. Bitwise's inaugural tokenized fund (USCC) lands on Superstate's FundOS. $267M+ AUM Crypto Carry Fund transitions from Superstate's management to Bitwise on June 1, 2026 (becomes Bitwise Crypto Carry Fund). Same ticker, smart contracts, token address. Second external manager after Invesco took USTB. Superstate's pivot to infrastructure-only is set.

Ripple, Ondo, Kinexys by J.P. Morgan, and Mastercard. First cross-border, cross-bank tokenized treasury redemption. Ripple redeemed OUSG on XRPL, Mastercard MTN routed the instruction, Kinexys debited Ondo's blockchain deposit account, USD settled to Ripple's Singapore bank in near real time. Public chain meets interbank rails.

SWEEP. State Street + Galaxy onchain liquidity sweep fund launched on Solana. PYUSD and USDC subscriptions and redemptions 24/7, ~$200M anchored by Ondo's OUSG. Cross-chain via Chainlink CCIP; Stellar and Ethereum next. The first major institutional onchain liquidity sweep: idle stablecoin balances earn money-market yield 24/7 without leaving the wallet. 0.50% TER.

USDso. Somnia's native stablecoin. Issued by Frax Finance based on the frxUSD architecture. Mint 1:1 with USDC, redeem against Frax's BUIDL-backed reserve stack. 90% of yield routes back to DeFi protocols on Somnia, 10% to insurance fund.

Frax → Somnia. frxUSD architecture extended to issue Somnia's native USDso. Same playbook as MegaETH/USDm. Three native chain stablecoins inside a week. The pattern is the new chain launch.

Coinbase → Centrifuge. Seven-figure equity stake plus preferred tokenization backbone status. Centrifuge becomes the default issuance layer for tokenized assets across Coinbase's ecosystem. First institutional Base launches targeted within weeks. Coinbase Ventures was already in the cap table from 2022 and 2024.

Bullish (NYSE:BLSH). $4.2B definitive agreement to acquire Equiniti from Siris. Combined entity targets being the global transfer agent for tokenized securities. ~3,000 public-company issuers, $500B in annual payments, 20M+ verified shareholders. Closes January 2027.

Forward Industries (NASDAQ:FWDI). Solana treasury company. Co-led OnRe's $5M Series A with RockawayX, plus up to $25M direct deployment into ONyc. Public-market shareholder capital flowing through ONyc into actual reinsurance contracts.

FalconX → Sygnum Bank. First tokenized structured credit facility for digital assets. FalconX Credit Vault built on Pareto, M11 Credit as administrative agent, Sygnum as lender of record for its 2,000+ wealth and institutional clients. Not US-available.

OnRe → Forward Industries + RockawayX. $5M Series A close. Forward commits up to $25M into ONyc on Solana. The first time a Nasdaq-listed Solana treasury company is wiring capital into onchain reinsurance.

Jump Trading. Chicago prop giant deploys PropAMM on Solana to make markets in Securitize's onchain regulated equities. First top-tier prop firm providing real liquidity for real public stocks onchain. Jupiter handles the front end.

Securitize → Jump Trading + Jupiter on Solana. Fully onchain regulated equities trading. Securitize as broker-dealer (FINRA-approved May 4), Jump's PropAMM as liquidity, Jupiter as user-facing distribution. Reg NMS-compliant, KYC-whitelisted wallets, real public stocks.

Western Union → USDPT on Solana. Issued by Anchorage Digital. Launching first in the Philippines and Bolivia. Stable by Western Union (consumer wallet) rolling out to 40+ countries through 2026. A bank-issued stablecoin with 200 countries of physical distribution behind it.

MegaETH. EVM L2, 10ms blocks, 20K+ TPS testnet. MEGA token launch May 1 at ~$1.6B FDV. Native USDm runs on Ethena USDtb rails. Reserve yield routes to the sequencer instead of the chain.

Securitize → first FINRA-approved broker-dealer to custody tokenized securities. Atomic settlement between tokenized securities and stablecoins onchain inside one regulated entity. Full IPO infrastructure stack onchain. tZERO had only special-purpose-BD custody; this is the first regular BD.

Ondo → DTCC Industry Working Group. Sits with BlackRock, Goldman, JPMorgan, Franklin Templeton, Morgan Stanley, BofA, Citadel, NYSE, Circle, Fireblocks, Robinhood designing the rules for tokenizing the $114T DTCC custody base. Production trades July 2026, service launch October 2026.

CUSHY. Coinbase Asset Management's Stablecoin Credit Strategy. Tokenized credit fund that lends into stablecoin markets and passes the yield onchain. Onchain shares via Superstate's FundOS on Ethereum, Solana, Base.

Anchorage Digital → M0. Joint regulated stablecoin issuance stack. M0 brings modular design and interoperability, Anchorage brings the federally-chartered backend for issuance, custody, and reserves. One pre-integrated path for fintechs and payment platforms launching their own US-regulated dollar.

Kinesis. Third-largest tokenized commodity issuer at ~$0.62B combined (KAU gold + KAG silver), per CoinGecko Q1 2026 RWA report. The third name in tokenized precious metals after XAUT and PAXG.

Monad. EVM-compatible high-performance L1. Only non-Ethereum chain with the full Centrifuge credit stack: JTRSY + JAAA on since March 12, ACRDX since April 9 (Dune-verified onchain). April 30 public announcement adds freely transferable deRWAs for DeFi composability.

Centrifuge → Monad (JTRSY, JAAA, ACRDX live with freely transferable deRWAs; tokenized credit broadens to lending, collateral, and DeFi on Monad).

Upshift → Monad (vaults active on Monad alongside Ethereum, Avalanche, BNB, HyperEVM, Plasma, Ink).

Anchorage Digital now custodying USDM1, the Marshall Islands sovereign tokenized treasury. $4.2B valuation post Tether's $100M check Feb 2026.

Computershare. World's largest transfer agent, serves 58% of the S&P 500. Now offering Issuer-Sponsored Tokens via Securitize for ~10,000 US public companies.

Computershare → Securitize (Issuer-Sponsored Tokens, $70T US equity market potentially routable onchain inside existing transfer agent framework).

OKX. Top-tier crypto exchange. Apr 28: launched joint tokenized RWA collateral framework with BlackRock and Standard Chartered. First G-SIB acting as custodian for off-exchange BUIDL collateral.

Pharos Network. EVM-compatible RWA L1, Pacific Ocean Mainnet just live. $1B valuation, $52M raised. Centrifuge already routes JTRSY and JAAA distribution through it.

Symbiotic. Permissionless asset-agnostic restaking layer. Now backing Midas Instant Liquidity for RWAs: T+0 atomic RFQ settlement, no pre-funded inventory.

Midas → Symbiotic (Instant Liquidity via Symbiotic Core; institutional restaking infrastructure routes RWA settlement).

Ondo → Broadridge (proxy voting for 250+ Ondo tokenized stocks via Broadridge ProxyVote on Avalanche; Ondo is ~70% of the tokenized stocks market at $700M TVL).

OKX → Ondo Global Markets. 263 tokenized US stocks paired with USDT, zero fees and zero gas. After Binance and 360X, the third major venue listing Ondo's equities. Institutional crypto exchanges using Ondo as the default tokenized-stock backend.

Upshift. Institutional vault OS for curators across 30+ chains. $550M peak TVL. Partnering with Securitize Fund Services for audit-ready onchain vault reporting.

Upshift → Securitize (Fund Services providing independent reporting, allocation transparency, and audit-ready data to curators and depositors).

Jupiter. Solana's dominant DeFi superapp. DEX aggregator running ~50% of Solana volume, $3B+ TVL. Jupiter Lend now accepts xStocks as collateral.

Jupiter → xStocks (SPYx, QQQx, NVDAx, TSLAx live as lending collateral with up to 3.8x leverage).

Exponent Finance. Solana fixed-rate yield exchange. $100M TVL, $1.8B+ traded volume. v2 opens RWA-backed rate markets.

Hastra → Exponent Finance (PRIME listed on Exponent v2 fixed-rate market).

Keyring Network → ACRDX (compliance layer for Apollo credit leverage; ACRDX entering rwa unwind via Keyring's onchain KYC infrastructure).

xStocks → Mantle (tokenized equities now deployed on Mantle L2; expanded chain coverage beyond Solana and Ethereum).

360X. Regulated EU digital asset trading venue backed by Deutsche Börse Group + Commerzbank. Listed Ondo's tokenized stocks (AAPLon, MSFTon, NVDAon, SPYon, etc.) plus Kraken's xStocks suite for European institutional access.

Ondo Global Markets → Solana + 360X (tokenized stocks deployment chain coverage now Ethereum + BNB + Solana, listed on Deutsche Börse-backed regulated venue).

xStocks → 360X (Kraken's tokenized equities suite listed on Deutsche Börse-backed regulated EU venue).

ACRED → Aptos, Avalanche, Polygon, Solana, Sei, Wormhole, RedStone, Morpho, Kamino, Loopscale.

STAC → Solana, Chronicle, Grove.

VBILL → Aave (Horizon collateral).

BUIDL → Uniswap (UniswapX trading).

MI4. Mantle's tokenized crypto index fund. BTC/ETH/SOL/stables, yield-enhanced via LSTs. $143M AUM, Securitize-issued.

MI4 → Securitize, Mantle, Fireblocks, Ethena.

Clearstream. Deutsche Börse post-trade, now custodying tokenized stocks.

Sentora → Fireblocks. Powers Earn vaults (PYUSD on Morpho).

Ondo Global Markets → Clearstream. Post-trade for tokenized stocks.

Hastra. Yield protocol wrapping Figure HELOCs and auto loans into DeFi-composable tokens on Solana. PRIME live at 8% APY.

Hastra → Figure Markets, Solana, Kamino.

tZERO. SEC-regulated broker-dealer. One of two SPBD-licensed platforms in the US. Full stack from issuance to secondary trading.

JusToken. $1.7B+ in tokenized commodities across Polygon and XRPL. Cattle, grain, energy, land.

DigiShares. White-label tokenization rails under 200+ clients. Now on Aptos.

DigiShares → Aptos.

Midas → Chainlink. Attestation engine for mTokens proof of reserves.

Invesco → Superstate. First external asset manager on the Superstate platform.

Saturn → Pendle. USDat and sUSDat listed for yield tokenization.

Tron. Stablecoin highway now getting RWA rails via Securitize and Plume SkyLink.

Tron → Securitize, USDT, Plume (SkyLink).

Saturn. STRC dividend yield routed into a stablecoin via M0. $10M in testing deposits.

USDat. T-bill backed stablecoin by Saturn. Stake into sUSDat for 11%+ STRC yield.

Saturn → USDat, M0, Securitize, Ethereum.

USDat → Ethereum, Curve.

ACRDX. Anemoy's tokenized Apollo credit fund, $51M via Centrifuge on Plume.

ACRDX → Apollo, Centrifuge, Plume, Grove, Chronicle, Wormhole.

Anemoy → Centrifuge, ACRDX, JTRSY, Plume, Base.

Broadridge → Avalanche. Dedicated L1 for onchain proxy voting.

Broadridge → Superstate. Onchain proxy voting for tokenized equities (Galaxy first client).

Aster. Perp DEX with USD1-denominated commodity markets.

Aster → USD1. USD1 as margin and settlement for commodity perps.

HYBOND. Tokenized high-yield corporate bond fund with BNY.

BNY Mellon → OpenEden. HYBOND investment management (beyond custody).

OUSG → XRP Ledger. Ondo treasury fund live on XRPL.

TBILL → XRP Ledger. Treasury vault on XRPL.

Securitize → Kamino. sToken (sACRED) DeFi integration on Solana.

Securitize → Euler. sToken (sBUIDL) DeFi integration on Avalanche.

Concrete → Euler. Vault curator for institutional lending markets.

Aave → USCC, JTRSY, USTB, JAAA, USYC, VBILL. Horizon collateral.

Euler → BUIDL. SBUIDL lending collateral on Avalanche.

FalconX → BUIDL. Margin collateral for institutional trading.

Hidden Road → BUIDL. Margin collateral via triparty custody.

Binance → BUIDL. Off-exchange collateral for institutional trading.

xStocks ↔ Morpho. SP 500 tokenized equities as lending collateral.

Aerodrome added. Base's dominant DEX, deSPXA trading venue.

Centrifuge ↔ Aerodrome. DeSPXA onchain liquidity on Base.

Centrifuge → Base. DeSPXA tokenized S&P 500 fund live.

Ondo Global Markets → BNB Chain. Tokenized stocks deployment.

Midas → Base. mTokens deployed.

Janus Henderson added. $493B AUM, JTRSY + JAAA via Centrifuge.

OnRe + ONyc added. Tokenized reinsurance, first insurance product onchain.

Citadel Securities added. Zero blockchain, Canton repo, Ripple/Kraken investments.

Canton ↔ LayerZero. First interop protocol for institutional chain.

Superstate ↔ Kamino. Opening Bell equities as lending collateral.

Bitwise ↔ Morpho. BTC lending via Lombard Smart Accounts.

Kamino ↔ xStocks. Tokenized stock collateral on Solana.

Bitwise → Morpho. USDC vault curation.

Figure Markets → Solana. Native equity issuance (second IPO).

LayerZero → DTCC. Zero chain collaboration.

Steakhouse → Euler, Pendle, Gauntlet, SocGen + 5 more.

NYSE → Securitize. MOU signed. Securitize named the first digital transfer agent for NYSE's Digital Trading Platform, the planned 24/7 tokenized securities venue. ICE/NYSE picks the same partner Coinbase backed and BlackRock issues through.

Securitize → Cantor Equity Partners II. $1.25B SPAC merger announced (Oct 28, 2025). Securitize will list on Nasdaq as SECZ. $244M trust + $225M PIPE led by Arche, Borderless, Hanwha, InterVest, ParaFi. 2026 projection: $9B AUM, $110M revenue. Closes H1 2026.