Web3Alert

$HBAR has built a versatile tokenization ecosystem Collateral Deposits Real Estate Market Assets While most focus only towards one aspect of RWAs... Hedera is encompassing the bigger picture And it's part of why names like DTCC are recognizing the Hedera ecosystem. Let's dive deeper Start with collateral. July 2025, Archax moved tokenized collateral between Lloyds Banking Group and Aberdeen Investments to support an FX transaction. This involved a tokenized UK Digital Bond + a tokenized Aberdeen Money Market Fund. Both hosted on Hedera. This wasn’t tokenized cash moving around. It was tokenized assets being posted as collateral. And that matters because settlement delays push variation margin towards cash. Tokenized collateral moves in near real-time instead. Speaking of cash... Let's discuss tokenized deposits. July 2026, five Spanish banks ran Spain’s first multi-bank tokenized deposit trial. Orchestrated by Cecabank, built on ioBuilders’ Asseto, Running on Hashgraph’s HashSphere, a private permissioned network built on Hedera tech. Each bank issued tokenized deposits on its own books, then transferred them to the others Same bank money. New rails. This also builds on Cecabank’s 2024 tokenized bond proof of concept with the Bank of Spain. Then real estate. RedSwan CRE tokenizes real estate on Hedera along with a select few other DLTs like Stellar. Properties are split into tokens minted through Hedera Token Service, with KYC/AML built in. Tokens start at around $1,000. Per Hedera, RedSwan has tokenized $5B+ in real estate. 13,000 investors. Three funds across the US, Africa n the GCC. Real estate has long been one of the most prestigious capital markets, though one with incredibly high barriers and costs to entry. Tokenized real estate solves exactly that. Finally, market assets. Archax, the UK’s first FCA-regulated digital asset exchange, custodian n brokerage. It started with Aberdeen’s £15B LUX Sterling money market fund tokenized on Hedera. Then in Nov 2024 came State Street, Fidelity International n LGIM. Then Pooled Tokens allowing baskets of assets to be represented by a single token. Now zoom out. Collateral is what backs the trade. Deposits are the money banks move. Real estate is the hard asset. Market assets are the funds n ETFs. –––––––––––– Four different types of tokenization. All building towards the same goal. One network underneath it all establishing trust.

Both metrics & news are looking STRONG on $XLM PYUSD volume up 554% DTCC went live in the middle of it State Street tokenizing on Stellar And that's just the start, Let's break it all down. It's also important to keep in mind that Stellar Meridian is currently happening as we speak. This has been a flagship annual Stellar event and we're likely to see more news there. But let's start with stablecoin rails: USDC volume on Stellar hit $13.73B, up 38.9% PYUSD volume hit $308.2M, up 554.1% That’s roughly 6.5x from about $47M the period before. PYUSD only arrived on Stellar back in Sept 2025. One year later it’s moving hundreds of millions a month. Still only about 2% of USDC’s volume, but the growth rate says plenty. Stablecoin supply is up 20.4% to $511M Daily active addresses are up 46.5% to 83,755 And the tokenized assets side hasn't just been quiet throughout this either. Tokenized RWA value: $3.63B, up 8.69% RWA holder positions: 19.3K, up 12.0% Holders growing faster than value points to more wallets coming in, not one big deposit doing the lifting. Now connect that to DTCC. On Oct 28, DTCC’s Tokenization Service went live through the Depository Trust Company. 20 DTC participants signed on, including: Bank of America Citi J.P. Morgan Morgan Stanley State Street UBS Citadel Securities DTCC holds over $114T in assets under custody. Canton n DTCC’s private Besu network are now already live at launch. And Stellar is the first public chain DTCC plans to add after in H1 2027. This is further exemplified by the Stellar partnership with DTCC earlier this year. Stellar is playing a key role towards BOTH the cash AND asset leg of tokenization. ––– USDC. PYUSD. Active addresses. All rising right now. DTC assets arrive in H1 2027. Cash leg first. Securities leg next.

$NEAR n $HBAR are tackling AI from opposite ends NEAR builds where agents act Hedera builds why we can trust them Both are essential towards the future of AI being utilized on-chain as a whole. And while different missions, Their end goals align in the same consortiums for very clear reasons beyond just individual AI efforts Let’s break it down. Start with NEAR. Specifically NEAR Intents. Here’s the idea. Instead of telling a chain how to move your money, you just state the outcome. Swap Token A on one chain for Token B on another. Competing solvers then fight to fill that order the best way possible. No bridge or wrapping whatsoever in between. And we've already seen the on-chain adoption About $31 Bil in all-time volume, per Dune data. A record day of $300 Mil+ on September 18th. Across 30+ chains. And nearly $2 Bil of it has gone through confidential intents, where order details stay off-chain until execution. And NEAR’s leaning into it from the AI side too. NEAR AI runs private inference in secure hardware across 40+ frontier models. Pair that with confidential intents n an agent can transact without showing its strategy. And on NEAR’s own roadmap: an Agent Market where agents get hired per job. Now let's flip it to Hedera Hedera isn’t asking what agents can do. It’s asking how we know what they did. That starts with Hedera Consensus Service. Every agent action recorded in sequence, timestamped, tamper-resistant. An audit trail you can’t quietly rewrite. EQTY Lab n Accenture launched a verifiable AI agent governance layer on Hedera, powered by HCS. Then comes identity. HCS-14 gives AI agents a universal ID. One that works across chains n even web2 APIs, with trust claims verifiable cryptographically. This is built aligned with other AI identity solutions such as Hashgraph Association's IDTrust, which has since also been integrated into IBM's WatsonX. Hedera as the trust layer for AI simply makes sense given their Gov Council structure. Now here’s where the two meet. First, the Decentralized AI Society. DAIS launched September 2024 to keep AI from concentrating in a few hands the way Web2 did. January 2025, Hedera, NEAR Foundation n Secret Network all joined in the same announcement. Second, the x402 Foundation. x402 is the open standard that lets software autonomously pay over HTTP. Back in summer this year Linux Foundation launched the x402 Foundation. Both Hedera and NEAR are contributing members. These two are proving that AI and blockchain aren't technologies in competition. But rather they compliment each other in their own respective ways from access to trust. –––––––– NEAR: where agents act. Hedera: why we can trust them. x402: how they pay. DAIS: who they answer to. Two networks. Two consortiums. One direction.

$ONDO started with Treasuries Now it's putting, tokenized stocks, BlackRock-built portfolios n pre-IPO companies on-chain Talk about coming a long way They've since built quite the moat around institutional asset tokenization. Here's the history and how the progression played out... Start with the foundation. Ondo's first big product was OUSG, tokenized short-term US Treasuries. BlackRock was already underneath it, with OUSG's assets sitting in the iShares Short Treasury Bond ETF. The catch was T+2 settlement, which limited how fast OUSG could be redeemed. Then in March 2024, BlackRock launched BUIDL on Eth. Within a week BUIDL was around $245 Mil. Ondo had already moved roughly $95 Mil of OUSG's assets into it, close to 38% of the supply. The goal? Instant subscriptions n redemptions, 24/7/365. Today Ondo sits around $2.9 Bil in tokenized Treasuries. That was step one. Step two was stocks. September 2025, Ondo Global Markets went live. 100+ tokenized US stocks n ETFs, starting on Ethereum, for qualified investors outside the US. Then came Solana n BNB Chain. By May 2026 it crossed $1 Bil in TVL, less than 8 months after launch. 260+ assets at that point, with over $18 Bil in cumulative trading volume. Ondo says that's 70%+ of the tokenized equity issuer market, per RWA XYZ metrics Now it's past 450 stocks n ETFs. Which sets up step three... September 24, 2026. Ondo Intelligent Portfolios. The first 3 tokens: • BLKHIon: High Income • BLKDIGon: Diversified Growth • BLKGRWon: High Growth Each is a BlackRock-developed strategy, delivered as a single onchain token. Mint or redeem 1 token instead of buying n rebalancing a whole basket. Think like a tokenized auto rebalancing ETF. Holdings, weights n every rebalance are visible onchain. And since it's a token, it can move across wallets, exchanges n DeFi. BlackRock's role is specific though. It provides the model strategies based on Ondo's specs. It doesn't manage the portfolios, or handle the tokenization, issuance or custody. Notice the shift here. In 2024, BlackRock's product was sitting underneath Ondo's token. Now BlackRock's strategy is what Ondo's rails deliver And now with Ondo Private Markets emerging? Tokenized exposure to private companies before they go public. Private equity alone is a $15T+ market. But one that's been locked from retail access. Ondo is now cutting that lock down. IPO, acquisition or secondary sale. And they're starting with a BANG, through the first pre-IPO asset being none other than OpenAI exposure! And they're already planning other key sectors. Next up: robotics, cybersecurity, biotech, infrastructure. ––––– Initially the vision behind Ondo was for tokenization of assets to come to life. Look at what they've delivered a few years in Treasuries. Stocks. Portfolios. Private Markets. Multiple multi trillion dollar markets. One platform And it all began with plugging into BlackRock's BUIDL.

Canton $CC isn't your usual crypto project It was built by Digital Asset Backed by Goldman, BNP Paribas, HSBC DTCC & more That alone speaks volumes. This wasn't just some one off investment backing either The same names funding it are now building on it Let's dive deeper into the ecosystem. Start with who’s behind it. Digital Asset was founded back in 2014 At its 2021 raise the focus was Daml, a smart contract language built for financial institutions. Canton Network is where that work ended up. It went live in July 2024. What's most interesting here is that the backing of Digital Asset isn't like 99% of crypto projects It's not VC involvement It's entities like: BNP Paribas, SP Global, BNY, Nasdaq, Citadel, Goldman, DTCC, Apollo, Coinbase, CME, etc. This is absolutely NOTHING like a traditional crypto backing list whatsoever. Now let's look at what's actually building on the network These 2 stand out. HSBC Orion Orion is HSBC’s private tokenization platform, running on Canton technology. It’s already been used for Hong Kong green bonds n a €50 Mil Luxembourg State Treasury note. May 2025, HSBC launched its Tokenised Deposit Service on Orion. September 2025, HSBC joined the Canton Foundation. Then April 2026. HSBC piloted tokenized deposits on the public Canton Network for the first time. BNP Paribas NeoBonds NeoBonds is BNP Paribas Global Markets’ private tokenization platform, built with Daml on Canton. In 2024 it carried the Republic of Slovenia’s €30 Mil digital bond. First sovereign digital bond for the Eurozone n EMEA. BNP was Global Coordinator n Sole Bookrunner. And it settled on-chain using Banque de France’s tokenized central bank money, under the ECB’s wholesale settlement experiments. The bond n the cash leg, both on-chain. September 2025, BNP joined the Canton Foundation. ––––––––––– HSBC Orion Goldman Sachs DAP BNP Paribas NeoBonds All built on DAML and Canton. Each started as a private platform. Now each bank sits inside the same network’s governance. And DTCC, another early backer, just launched its tokenization service with Canton as the first DLT. The people funding Canton are the ones using it. Not your usual crypto project at all.

$TAO isn’t building an AI product It’s building an entire AI economy on chain Compute. Inference. Training. Robotics. Agents. Each one a subnet, each one running live on the network This is true blockchain & Web3 meeting AI innovation A “full-stack intelligence network.” Specialized subnets selling services to each other. Data. Compute. Storage. Pre-training. Inference. Agents. Not one AI company doing everything. Hundreds of specialized teams, all plugged into the same chain. And the network’s already scaled to match. 128 subnets by May, up from 64 when dTAO launched. 129 active as of this month. Subnets compete for emissions on chain, and subnets that don’t earn their keep get cut. Now the compute layer. Lium (SN51) reported about $1.3M in its last full month, roughly 3x a year earlier. Targon (SN4) reported $10.4M ARR back in April. Chutes (SN64) moved to Trusted Execution Environments (TEE) and brought its first Blackwell B200 GPUs online. Private inference, real hardware, running on subnets. Then training. IOTA (SN9) continues decentralized training on-chain Now robotics, which most people don’t expect from Bittensor. OpenRoboto (SN80) launched a first-person robotics data collection initiative Sept 22. Sept 25, with Axis Robotics, they released the Open Axis Benchmark, a standardized framework for evaluating robot models. They even brought a physical xArm 6 online to test winning models on real hardware AI is no longer just living in software We're seeing physical automated robotics come to life and Bittensor is playing a role in it. Meanwhile institutions have been building the on-ramps all year round. April 21 BitGo and Yuma brought custody, staking and trading for subnet tokens. June 2 Staked TAO ETP cross-listed on Euronext Paris. June 25 Yuma launched an institutional fund covering TAO and subnet tokens. June 29 Kraken announced subnet token listings. –––– Compute. Inference. Training. Robotics. Agents. A currency to pay between them. On-ramps for institutions on top. Bittensor isn't just an "AI token" with a narrative It's becoming the Web3 AI economy as we speak.

Things have been exciting lately on $AVAX In the span of ~5 weeks we've seen: • UAE’s national digital ID • South Korea’s securities market • Dubai’s DIFC Courts We're seeing true adoption around institutional tokenization, regulations and govt infrastructure. The avalanche is truly beginning Let's trace it back Start with the UAE. On September 14, the UAE PASS Digital Vault officially moved onto Avalanche. UAE PASS is the UAE’s national digital identity platform. Serving more than 12.5 million people. Over 15,000 services. Verified document sharing across 350 entities. This isn't some pilot sandbox, this is official national government infrastructure coming on-chain. Now over to South Korea. Early September, Hanwha Investment & Securities was reported to be building a tokenized securities platform designed to run on Avalanche & Hyperledger Besu. Korea has been setting the stage for this too. Amendments take effect Feb 4, 2027, legally recognizing distributed ledgers as securities registers. Then came October. The Korea Securities Depository, KSD, is building an Avalanche-based connection for Korea’s securities tokenization market. KSD is like the Korean equivalent to US DTCC Covering issuance, trading, clearing, settlement n investor rights. Samsung SDS awarded the contract to move it from testbed to a production platform. Target: February 2027. And just a day later, Dubai. Oct 14, DIFC Courts began issuing court orders & hearing records with on-chain credentials on Avalanche's C-Chain. Each doc gets a unique, nontransferable credential. Cryptographic fingerprint of file recorded on-chain. Document itself & confidential case info stay off-chain. –––––––––––––––––––––– Identities. Securities. Court Records. Three different use cases, three different institutions. Same chain underneath.

Quant doesn’t drop partners often But when they do, it’s never filler $QNT has added Dentsu Soken, UK GBTD, Murex, Capgemini & The Clearing House in 2026... Quality > Quantity Each of these lay momentum for the long term path towards the Future of Finance. Quant doesn't do one-off partnerships. Let's start with Japan & Dentsu Soken back in Jan Quant partnered with Dentsu Soken to bring programmable settlement n tokenized deposits to Japanese banks. Dentsu Soken cited Quant’s GBTD track record directly as the reason. And they are also a member of Japan's DeCurent DCJPY Yen stablecoin/tokenized deposit consortium. So Quant didn’t just get a Japanese partner. They got the team sitting underneath Japan’s tokenized deposit rails. Then came March. Murex. Quant’s Flow & Overledger embedded into MX.3. Murex’s runs inside 65 of the top 100 global banks. That’s a firm that clears over $1 TRIL a day! And now we've seen Quant and Murex's collaboration grow towards building programmable settlements as seen during SIBOS. Then in July, Capgemini. A joint piece between Quant & Capgemini, breaking down two account models for tokenized deposits. Not quite an official partnership yet, but it showed the two had connected. And Capgemini is one of the firms banks lean on for exactly that call. Additionally, Quant and Capgemini had then expanded on the collaboration now building Agentic AI treasury management, which was presented at SIBOS as well. We've also obviously tracked Quant's work as the orchestration layer in GBTD extensively. And now we've seen GBTD officially gone live, marking the first ever live interbank tokenized deposit tx. But perhaps the biggest news with tokenized deposits we've seen all year? None other than The Clearing House's On-Chain Money Initiative selecting Quant. And this was just days after UK GBTD had gone live and days before SIBOS kicked off. Clearly no coincidence here. Quant provides the interoperability, orchestration n transaction management layer. Connecting RTP & CHIPS. 17 banks participating, network targeted for H1 2027. TCH is another name moving over $1 TRIL a day. –––––––––– Dentsu Soken Capgemini UK GBTD Murex TCH Japan’s rails. Global capital markets. Bank architecture. US payments. None of them are filler. Every one fills a different gap. That’s what building an ecosystem with heavy hitters looks like.

The evolution of $XDC has gone FAR beyond digital trade infrastructure They're now building towards ALL the technological innovations happening & plugging it into global trade • AI • Agentic Payments • Quantum Resistance And the latest piece to this is their Concordium partnership. Let’s run through how we got here. Start with XDC AI. Launched July 2026. A marketplace where AI agents find, buy n pay for APIs and digital services on their own. Built on Coinbase’s x402 standard. Settled in USDC, with the gas covered for the agent. Agents sign off-chain, a relayer pays the network fee. Owners set spending caps on the agent’s smart wallet. And it connects to Claude, ChatGPT, Cursor n Codex. Making integration as seamless as can be through leading AI applications. Fast forward to August and we've now got Bridge. The same Bridge that Stripe had acquired. On n off ramps. Virtual accounts. Multi-currency custody. And each agent or workflow can get its own IBAN or ACH endpoint that settles into stablecoins on XDC. So agents can pay. And fiat can reach them. But one piece was still missing... Concordium’s CEO Boris Bohrer-Bilowitzki put it best: “Payment tells you an agent can spend. It doesn’t tell you who answers for it.” So here’s what XDC now has in place: • Owner verifies with passport + liveness check in the Concordium Wallet • Check is run by an independent identity provider • Owner links their XDC wallet (two signatures, no funds moved) • Agent is registered and gets a “Verified by Concordium” badge • Anyone can check the badge publicly, no one needs to be contacted No name, document number or photo goes on-chain. Disclosure only happens through a court order, acted on jointly by independent Privacy Guardians. This is also Concordium’s first full-network integration. Until now it was agent by agent on Ethereum & Solana. Now let’s bring in Contour. Contour was a digital letter of credit network originally backed by HSBC, Citi n Standard Chartered. It struggled to scale and shut down in late 2023. But last year in October, XDC Ventures acquired it Alongside it, XDC launched a Stable-Coin Lab to test whether regulated stablecoins like USDC can settle trade more efficiently. Fast forward to Sibos Miami, Sept 28 to Oct 1. Contour’s interim COO presented what it's running now and how XDC powers it. Live pilots settling selected letters of credit in USDC. Bank account → USDC wallet → USDC wallet → destination bank. AI auditing fields of trade documents like the MT700. Exploring agentic document conversion and examination too. Contour says digitising could cut a 15 to 20 day trade cycle to around 5. –––––––––– Now let's lay the pieces together Payments. x402 + gasless USDC + Bridge. Identity. Concordium. Trade documents n settlement. Contour. And QAIX sits alongside it.

Both $ONDO On-Chain metrics & fundamental development are sharing the same story To sum it up in one phrase? Utility Focused Operations First let's look at the numbers on-chain over 30 days: Asset Trasfer Volume +37.5% Token Transfer Events +185% RWA TVL crosses $4 Bil Let's dig deeper Transfer events nearly tripling while circulating value only inches up isn’t noise... That’s usage accelerating faster than new supply is even being minted. People are now actively using and transferring across the Ondo ecosystem. And the fundamental news around it just backs up this thesis of Ondo's growth even more! Ondo Private Markets went live with its first product, the OpenAI Exposure Note. Private markets are a $15 Tril market with tons of bottlenecks such as liquidity that tokenization can solve 87% of US firms at $100M+ revenue are still private. Yet retail investors haven't had access for decades. This is where Ondo Private Markets democratizes the accessibility to the multi trillion dollars of locked capital Now for a quick RWA ecosystem breakdown: Ondo confirmed total value locked across its products has crossed $4B. $3B in tokenized Treasuries $1.3B+ in tokenized stocks & ETFs We've already seen Ondo capture much of the tokenization space with these two markets alone And now they're looking to add another asset class. One that's been inaccessible to the average retail investor until now. ––––– The numbers are proving that Ondo's use for RWAs is only continuing to grow, The fundamentals and partnerships continue to show institutional interest is clearly present with Ondo. All things are beginning to clearly align. And as the market begins shifting upwards following recent BTC price action? We can expect more capital to come.