TREE NEWS update: Hong Kong’s Monetary Authority granted its first two stablecoin issuer licenses on April 10, 2026 under the Stablecoin Ordinance. The Securities and Futures Commission followed on May 27 with a circular letting licensed virtual asset trading platforms and licensed corporations offer these stablecoins to retail clients, waiving the general liquidity and index requirements. Issuers must hold at least HK$25 million in paid-up capital and maintain reserves matching circulating value at par redemption.
TREE NEWS update: Ondo founder and CEO Nathan Allman died unexpectedly in May at age 32, and a dispute over his estate has grown into a fight for control of the asset-tokenization firm. Hawaii courts named his mother Kathleen Allman as personal representative of the estate; she then moved to replace CEO Ian De Bode, who denies wrongdoing. De Bode’s pay package included $900,000 in salary and bonus, a $1 million signing bonus and 26 million restricted ONDO tokens.
TREE NEWS update: The European Central Bank plans to invest its own funds in tokenized securities, buying euro-denominated public-sector debt and settling the transactions through its new Pontes service. The move marks the ECB’s first use of its own balance sheet for tokenized asset purchases, with settlement running on the central bank’s own platform.
TREE NEWS update: Ondo has launched an in-kind conversion system that lets approved institutions mint and redeem tokenized stocks and ETFs using the underlying securities rather than cash. The mechanism is aimed at institutional participants, allowing them to move directly between conventional equities and their tokenized counterparts. No launch date or fee details were disclosed.
TREE NEWS reports: The CLARITY Act has stalled in Congress, drawing fresh scrutiny to Coinbase as the exchange most exposed to the delay. The SEC is meanwhile moving ahead on tokenized stocks, and crypto firms are pushing deeper into payments. No timeline for the legislation was given.
TREE NEWS update: Ondo Finance said approved institutions can now mint Ondo Stocks directly using shares they already hold through Alpaca’s Instant Tokenization Network, and redeem the tokens back into the corresponding equities. The mechanism is live on Ethereum and BNB Chain, aimed at improving capital efficiency, secondary-market liquidity, spreads and market depth.
TREE NEWS update: The European Central Bank has launched Pontes, a settlement service for tokenized assets that operates without stablecoins. Services and operating hours will be expanded gradually, with full implementation expected by 2028 and additional participants set to join.
TREE NEWS reports: An early MRVL long is holding $61.8 million in perpetual contracts, with $1.46 million in unrealized profit, on-chain data shows. The position includes a $25.21 million bitcoin short alongside tokenized-stock longs: SPCX at $12.56 million (+$1.71 million), MU at $8.21 million (+$174,500), SNDK at $7.91 million (+$261,000), DRAM at $5.97 million (+$549,500) and SKHX at $1.93 million (+$77,100).
TREE NEWS reports: Polymarket has hired executives from Amazon, Uber, the NYSE, Coinbase and Robinhood, naming Warren Jenson as its first company-level CFO on September 10, as the platform’s valuation anchor sits between $15 billion and $21 billion. ICE, the NYSE parent, holds about 22% of Polymarket’s issued shares as of June 30, 2026, with the right to nominate and vote one director. A viral September 20 screenshot tied Polymarket to $pPOLY, a Paimon Finance SPV token, not an actual IPO.
TREE NEWS update: Binance Wallet has listed Polymarket/USD1 perpetual futures with up to 3x leverage, the platform announced on September 21. Users can post bStocks as collateral, and once multi-asset mode is enabled, tokenized stocks held in Binance Wallet count toward margin at up to 90% of market value.
TREE NEWS update: Hana Bank has issued a five-year, $100 million digital bond using Euroclear’s blockchain infrastructure, marking South Korea’s first digital bond issued directly on the Euroclear distributed ledger. Issuance, registration and settlement all took place on the network, cutting a process that normally takes three to five business days to same-day completion.
TREE NEWS reports: Hana Bank has issued a $100 million five-year digital bond using Euroclear’s blockchain infrastructure, shortening settlement from three to five business days to same-day. The issuance marks another step by the Korean lender into blockchain-based debt settlement.
TREE NEWS reports: DeFi protocol Glider co-founder Brian Huang published a critique on September 22 of the SEC’s tokenized securities exemption, saying the 60-page framework has limited market demand and no existing institution meets all its requirements. Huang said the exemption applies only to permissioned participants, excludes unregistered tokenized stock products from Robinhood, Coinbase, Binance, Ondo and xStocks, and caps tokenized NMS stock volume at 0.25% of the underlying stock’s average daily volume. Glider plans to file a comment letter with the SEC.
TREE NEWS reports: Apple and Google are recruiting staff with stablecoin and tokenized-deposit expertise for finance and payments roles, as both assess applying digital-asset infrastructure to their payment and financial businesses. Apple posted a US-based job on August 26 for a head of financial product strategy for Apple Pay, covering long-term strategy for Apple Card and Apple Cash, listing stablecoin, tokenized-deposit and blockchain knowledge as preferred qualifications. There is no evidence either company plans to issue its own stablecoin or launch a specific service.
TREE NEWS reports: Standard Chartered projects Arbitrum’s token could increase 70-fold by 2030. The call comes as US crypto legislation stalled, with the CLARITY Act failing to advance, while tokenized stocks were legalized and the Bitcoin Reserve initiative moved forward.
TREE NEWS reports: Goldman Sachs and Citizens analysts said the SEC’s proposed five-year innovation exemption could open the way for tokenized US equities to trade on-chain. Coinbase stands to benefit from custody, tokenization infrastructure and its USDC business; Robinhood would need to add shareholder rights such as voting to meet requirements; Circle could gain from growing USDC use in settlement and collateral.
TREE NEWS reports: Delphi Digital analysts said the current alt season is a structural, picker’s market rather than a broad rally, with gains concentrated in ZEC, HYPE and Lighter while BTC, ETH and SOL have not broken out together. They argued buying may come from returning crypto investors rather than new external capital, and that tokenized stocks on Robinhood Chain and Solana are shifting how risk appetite is expressed. Value capture, not narrative, will decide which assets outperform.
TREE NEWS reports: Wintermute says real-world asset tokenization is the leading candidate to become crypto’s next liquidity channel, drawing roughly $16 billion over the past 12 months — about one-tenth the best 12-month inflow of ETFs and digital asset treasuries combined. On-chain tokenized value has roughly tripled in a year to more than $30 billion and kept growing while stablecoin supply contracted.
TREE NEWS reports: Economist and bitcoin critic Peter Schiff said the SEC’s tokenized-stock announcement is bearish for bitcoin, arguing the asset must now compete with tokenized securities. He said tokens backed by profitable, dividend-paying companies are a superior and more reliable store of value than bitcoin, offering the same convenience without the risk of a decentralized Ponzi scheme collapsing. Bitcoin rose sharply the day after the announcement, which Schiff called puzzling.
TREE NEWS reports: Uniswap led tokenized-stock DeFi in total value locked growth over the past 30 days, adding $82.8 million across its V4 and V3 versions. The figure covers the 30-day window ending September 20, making the decentralized exchange the top venue by TVL increase in the tokenized-equity segment.