This newsletter is brought to you by the Enterprise Onchain team - James Smith, Head of Ecosystem at the Ethereum Foundation, and David Walsh, Head of Enterprise at the Ethereum Foundation.
The TLDR 👇
Standard Chartered’s Geoffrey Kendrick forecasts the tokenized real-world asset market will grow from $35 billion today to $2 trillion by 2028, representing a 56x expansion. Kendrick expects the “vast majority” of this activity to occur on Ethereum, driven by network effects, reliability, and institutional-grade infrastructure.
Citibank and Coinbase have announced a partnership to enhance stablecoin utility for institutional clients, enabling more efficient settlement across trading desks and treasury operations. The collaboration aims to bring enterprise-grade stablecoin infrastructure into global financial workflows.
BNY Mellon is providing backend infrastructure for WisdomTree’s blockchain-native fund operations, supporting tokenized assets with cash automation and real-time settlement capabilities. The move reinforces institutional demand for regulated tokenization platforms.
Aave’s Horizon RWA market is approaching $540 million in TVL, boosted by the addition of VBILL, VanEck’s tokenized U.S. Treasury fund. VBILL offers stable yield with daily liquidity by investing in short-term Treasuries and is now live as collateral on Aave’s institutional RWA venue.
Uranium has officially entered the decentralized finance ecosystem with the launch of xU3O8-based lending on DeFi aggregator Oku, utilizing the Morpho protocol. This marks the first time tokenized uranium has been integrated as collateral in DeFi lending markets, expanding the range of real-world assets available onchain.
Google has upgraded Google Finance with AI-powered research tools and integrated market data from Polymarket and Kalshi, marking the first time prediction market signals are included directly in a major financial data platform.
Hong Kong regulators have confirmed that licensed trading platforms will be permitted to source liquidity from global order books which is a policy advantage not currently allowed in Europe. The shift is designed to strengthen Hong Kong’s role as a digital asset hub.
Standard Chartered will roll out a crypto custody service in Hong Kong in January, covering Bitcoin and Ethereum. The bank already offers custody in the UAE and Luxembourg and became the first systemically important bank to offer spot crypto trading earlier this year.
Ethereum has set a new throughput record at 24,192 transactions per second, driven by surging Layer-2 activity. L2 Lighter has been consistently processing around 4,000 TPS since launch. Ecosystem TPS metrics can be tracked via GrowThePie.
Tokenization platform Securitize plans to go public through a SPAC merger backed by BlackRock. Securitize has become a leading issuer of onchain digital securities, partnering widely with major financial institutions.
Bank of England Deputy Governor Sarah Breeden has signaled that the U.K. is targeting stablecoin regulations at a pace comparable to the U.S., noting that caps on stablecoin holdings may be needed due to the U.K.’s dependence on commercial bank lending for its mortgage market.
Robinhood reported $268 million in crypto-related revenue for Q3 which is a 300%+ year-over-year increase, signalling a significant rebound in retail digital asset activity.
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Thanks for reading!
Until next week,James Smith & David WalshEnterprise Onchain Team