RWA & DeFi
BlockInsider Take On RWA This Week: Ondo Stocks Near $1 Billion
Ondo Finance is nearing a major tokenization milestone, while fresh moves from Coinbase and Standard Chartered reshape the RWA market.
2d ago 4,280
BLOCKINSIDERLoadingOndo Finance is nearing a major tokenization milestone, while fresh moves from Coinbase and Standard Chartered reshape the RWA market.
Real-world asset tokenization crossed another milestone this week, led by stocks. Ondo Finance emerged as the single biggest platform, edging toward $1 billion in tokenized equities.
Meanwhile, INJ posted a sharp weekly rally, nearing a golden cross. Here is everything shaping the RWA and altcoin landscape this week.
While RWA market held steady near $38 billion in valuation, the represented underlying value stands far higher, at $353 billion. Tokenized stocks now total $2.56 billion in market value.
Circle, individually leads the market at $271 million. Strategy's STRC and MSTR rank third and fourth, together exceeding Circle's figure.
Among platforms, Ondo dominates with $858 million in tokenized stocks alone. It is closing in fast on the $1 billion threshold. No other platform comes close to this scale.
Coinbase launched B20 tokenized US stocks on its Base network on August 24. The move brings traditional equity exposure directly onto a leading Ethereum layer-2 chain. Users can now access tokenized versions of major US stocks without leaving crypto.
This expands Coinbase's ambitions beyond exchange services into full tokenization infrastructure.
It also signals growing competitor pressure on Ondo's current market lead. Base's existing user base and liquidity could accelerate adoption of these products. Analysts see this as Coinbase's clearest push yet into tokenized equities.
Standard Chartered became the first bank to distribute HKDAP, a Hong Kong dollar stablecoin. This positions the bank as a bridge between traditional finance and digital assets. HKDAP aims to unlock real-economy benefits tied to HKD-denominated stablecoins.
Businesses could use it for settlements, remittances, and trade finance more efficiently.
A major global bank backing this stablecoin adds significant institutional credibility. It may encourage other traditional banks to explore similar stablecoin partnerships going forward. Hong Kong's regulatory clarity on stablecoins has also played a catalyzing role here.
The Wyoming Stable Token Commission announced FRNT's migration to Chainlink's CCIP. FRNT, the state-backed Frontier Stable Token, will now use cross-chain interoperability infrastructure.
This allows FRNT to move securely across multiple blockchain networks. Chainlink's CCIP is widely regarded as a trusted standard for cross-chain communication. The integration strengthens FRNT's utility and reach beyond a single blockchain ecosystem.
It also marks a rare case of state-backed infrastructure adopting institutional-grade interoperability tools.
INJ has rallied 32.6% over the past seven days, based on price data. The token is approaching a golden cross formation on its daily chart. The 50-day EMA is closing in on the 200-day EMA. A successful crossover can confirm a bullish structural shift for INJ.
The $5.16 level remains a crucial support level, aligning with the 78.6% Fibonacci line. INJ already broke above $5.49 resistance, marked at the 1.00 Fib level. That rally stalled near $5.85, the 1.236 Fib extension resistance.
Should INJ hold above the $5.16 support, bulls may retarget the $5.85 zone. A confirmed break above $5.85 could open the path toward $6.25. On the downside, losing $5.16 support risks a pullback toward $4.72. Traders should watch the EMA crossover closely, as it often precedes bigger moves.
This week's developments show tokenization expanding beyond stocks into stablecoins and cross-chain rails. Ondo's lead in tokenized equities faces fresh competition from Coinbase's Base launch.
Meanwhile, INJ's technical setup suggests traders are watching for a confirmed bullish breakout soon.
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