tokenization

The Hong Kong Monetary Authority (HKMA) released its 2025 work review and 2026 work priorities, which highlighted that in 2025, consumer protection in digital assets will be provided, a consultation with the industry will be conducted on the proposed framework for handling customer authorization payment fraud loss claims, and the prudent regulatory framework for crypto assets will officially take effect on January 1, 2026.The HKMA's 2026 work priorities will support the sustainable and responsible development of the digital asset industry and promote "FinTech 2030," including: data and payments (comprehensive risk data strategy), artificial intelligence (generative AI sandbox++, financial industry-specific models), and tokenization (regulatory incubator for distributed ledger technology), among others.

The Nasdaq-listed fintech company SOLOWIN HOLDINGS announced that it has reached a securities purchase agreement with Streeterville Capital to secure $100 million in financing. SOLOWIN will issue and sell prepaid shares for Streeterville Capital to purchase, with the first transaction of approximately $5.415 million in prepaid shares already completed. The company plans to use these funds to support its stablecoin and asset tokenization business.SOLOWIN previously disclosed that it will launch a Bitcoin quantitative fund with Antalpha, with a size of up to $100 million, and will employ data-driven algorithmic trading strategies to invest in Bitcoin.

According to official news, Citibank announced that it has tokenized a bill of exchange and completed its entire lifecycle (from issuance to settlement) on the Solana blockchain.

According to Cointelegraph, the Central Bank of Malaysia has stated that its Digital Asset Innovation Center is piloting three regulatory sandbox programs to research and develop stablecoins and tokenized bank deposits.BNM's related plans primarily focus on using the Malaysian legal tender ringgit stablecoin for cross-border settlements, as well as developing tokenized real-world assets (RWA). The pilot also aims to test tokenized bank deposits, with all research findings potentially providing references for the future development of wholesale central bank digital currency (CBDC), which is on-chain legal tender directly issued and managed by the central bank.

Robinhood's official website has announced the upcoming launch of the Robinhood Chain public testnet, which is an Ethereum Layer 2 network focused on the tokenization of real-world assets and digital assets, aiming to accelerate the development of on-chain financial services.Developers can now build and validate applications based on the core infrastructure, with multiple infrastructure service providers already onboarded, and more partners expected to join in the early stages of the testnet. Robinhood stated that the public testnet lays the groundwork for developers to explore potential and validate applications in advance, preparing for the mainnet launch and promoting the tokenization of real-world assets and DeFi liquidity access. It is reported that Robinhood Chain will support 24/7 trading, cross-chain bridging, and self-custody, covering application scenarios such as tokenized asset platforms, lending protocols, and perpetual contract exchanges.

According to The Block, SEC Commissioner Mark T. Uyeda expressed his views on security tokenization, stating that the SEC's rules should not create "unnecessary barriers" in the evolution of technology.In a speech at the Asset Management Derivatives Forum, Uyeda pointed out that tokenization has moved from theoretical exploration to the early stages of practical application, with market participants testing how traditional securities can be issued, held, and transferred on-chain. He emphasized that tokenized securities still fall under the regulatory scope of securities laws, and technological advancements have not changed core legal obligations such as information disclosure, asset custody, and investor protection. Uyeda stated that the SEC's responsibility is not to create a parallel set of rules for crypto-native assets but to adapt existing securities laws to the on-chain environment without causing unnecessary friction. He reiterated the SEC's commitment to the principle of "technological neutrality," focusing on regulatory outcomes rather than specific processes. Uyeda specifically mentioned that the SEC has recently received an exemption application based on the Investment Company Act, indicating that tokenization "is no longer just a theoretical deduction, but is becoming a reality."

Mark T. Uyeda, a commissioner of the U.S. Securities and Exchange Commission (SEC), delivered a speech at the 2026 Asset Management Derivatives Forum, highlighting the progress of the implementation of Treasury clearing rules and the development of tokenization in the securities market.The SEC has approved the registration of two new clearing agencies, CME Securities Clearing and ICE Clear Credit, providing market participants with more clearing options. Data from the Office of Financial Research indicates that if the rules are implemented in the first 8 months of 2025, U.S. global systemically important banks could free up an average of $34.5 billion in balance sheet space.Regarding tokenization, Uyeda stated that the SEC has ceased to use enforcement as the primary means of expressing its views, instead promoting limited scope pilots through regulatory guidance and exemptions. He emphasized that SEC rules should remain technology-neutral, focusing on outcomes rather than processes, while ensuring appropriate investor protection measures.

Several European tokenization and market infrastructure companies have jointly written to EU lawmakers, urging for a prompt revision of the EU's DLT Pilot Regime. Securitize, 21X, Boerse Stuttgart Group, and others pointed out that the current asset scope, issuance size limits, and six-year license restrictions have hindered the expansion of regulated on-chain markets.Relevant institutions believe that if adjustments are delayed, global liquidity may permanently shift in favor of the U.S. due to advancements in tokenized securities and near-real-time settlement. The proposal is not about relaxing regulations, but rather about technically "quickly revising" to expand the scope of eligible assets, raise limits, and remove time restrictions to maintain the competitiveness of European capital markets.

Ethereum treasury company ETHZilla (ETHZ) is accelerating its layout of asset tokenization, investing $4.7 million to acquire a portfolio of 95 manufactured home and modular housing loans, and plans to tokenize these loans on the Ethereum Layer-2 network, issuing cash flow digital tokens to investors through the regulated trading platform Liquidity.io.The loan portfolio is secured by a priority lien, with an expected annual yield of about 10%. McAndrew Rudisill, Chairman and CEO of ETHZilla, stated that this transaction is a natural extension of the company's tokenization strategy, as manufactured home loans have stable cash flows and strong collateral assets, making them very suitable for tokenization within a regulated and transparent framework. This move by ETHZilla comes after a significant decline in its core crypto assets, with the company's stock price having dropped over 90% from its peak of $107 in 2025, and last year it sold over $110 million in ETH for stock buybacks and debt repayment. Previously, ETHZilla also invested in the manufactured home loan company Zippy and acquired two jet engine turbines awaiting tokenization, demonstrating its ongoing push towards the tokenization of diverse physical assets.

Matrixport's RWA platform Matrixdock has officially released the “Matrixdock Outlook 2026: Building the Reserve Layer for the On-Chain Economy”, which outlines its judgment framework for the evolution of on-chain financial infrastructure in the next phase and reveals its strategic path towards 2026.The report points out that tokenization has moved from the "asset on-chain" phase to the second phase, where the core focus is no longer on technical feasibility, but rather on whether the assets can be included in institutional balance sheets, support regulated capital, and operate stably across different market cycles. Based on this judgment, Matrixdock further elaborates on the development logic and implementation path of the "on-chain financial reserve layer" in the report, believing that a foundational asset layer composed of high-quality, transparent, and verifiable tokenized assets will be key to supporting the scalable development of on-chain finance.Matrixdock states that its focus for 2026 is not on the rapid expansion of asset quantity, but on promoting the scalable implementation of reserve-grade assets in the on-chain financial system through a prudent, transparent, and long-term approach.

According to CoinDesk, WisdomTree CEO Jonathan Steinberg, whose assets reach $150 billion, stated that cryptocurrency has now become a core part of its business.The company's layout in the tokenization field is close to profitability, with tokenized assets growing from about $30 million to approximately $750 million, while also expanding into emerging blockchains like Solana. Jonathan Steinberg views cryptocurrency as the cornerstone of modern financial infrastructure and points out that initiatives such as tokenized funds, the WisdomTree Connect platform, and strategic investments in compliant tokenization technology are key to the company's long-term growth.

According to Cointelegraph, starting Tuesday, eligible MetaMask users from non-U.S. countries will be able to access 200 tokenized U.S. stocks, ETFs, and commodities, such as gold and silver, through the Ethereum network.The service allows users to obtain tokenized assets by swapping with Circle's USDC via MetaMask Swaps, converting the stablecoin into Ondo Global Markets (GM) tokens, which are designed to track the value of their underlying assets on a 1:1 basis.

Billiton Diamond and Ctrl Alt are tokenizing certified diamonds on the XRP Ledger with a total value of over $280 million, using Ripple's custody technology.

The Hang Seng Gold ETF has been listed on the Hong Kong Stock Exchange, becoming the first physical gold ETF in Hong Kong that allows individual investors to redeem directly from banks. The Secretary for Financial Services and the Treasury, Christopher Hui, stated at the 19th Asian Financial Forum (AFF) held in Hong Kong that the Hang Seng Gold ETF not only provides an option for redeeming physical gold at banks but also plans to distribute through licensed digital asset trading platforms.According to Li Peishan, Executive Director and CEO of Hang Seng Investment Management, the tokenized non-listed category of the Hang Seng Gold ETF is currently in the final testing phase and is expected to launch in the first quarter of 2026. The tokenized category will also be open to retail investors, with an anticipated lower entry fee. Currently, only USD-denominated shares are arranged, but this category will not have a physical gold redemption option.

The U.S. Securities and Exchange Commission (SEC) has released new guidance on tokenized securities, clearly stating that whether a security is regulated depends on its legal characteristics, rather than whether it is in a tokenized form; tokenization itself does not change the applicability of securities laws.The statement further distinguishes between issuer-sponsored tokenized securities and third-party tokenized securities, and covers different structures such as custodial models and synthetic models, aiming to provide clearer regulatory guidance for market participants to conduct related business within a compliance framework.

According to CoinDesk, asset tokenization startup Tenbin Labs has completed a $7 million seed round financing, led by Galaxy Ventures, with participation from Wintermute Ventures, GSR, FalconX, and others.Tenbin plans to launch its first tokenized gold product earlier this year, followed by high-yield forex tokens pegged to emerging market currencies such as the Brazilian real and the Mexican peso, targeting DeFi users seeking alternatives to dollar stablecoins.