Plumeberg News - 05.04.2024

Plumeberg News offers weekly insights into the Real World Asset (RWA) sector, carefully curated by the Goonheads specifically for Plume goons.

Brought to you by Plume Network, a modular RWA L2 designed for onboarding RWA projects and net new capital on-chain by integrating key asset tokenization and capital/compliance providers directly into our chain.

Here is an overview of what the Plumeberg News will cover:

1. Weekly RWA Highlights
2. RWA Market Commentary
3. Narrative Overview
4. RWA Category Insights
5. Tokenized Assets Analytics

1）Weekly RWA Highlights

$1B of US Treasurys tokenized, Base TVL doubles in a month: Over $1 billion in U.S. Treasury securities have been transformed into digital tokens across multiple blockchain platforms such as Ethereum, Polygon, and Solana, signaling a surge in the trend of converting tangible assets into digital tokens.

Galaxy Digital-Owned Crypto Custody Specialist GK8 Unveils Tokenization Wizard: GK8, a cryptocurrency storage company owned by Galaxy Digital, has launched a new tool called Tokenization Wizard. This innovative platform allows for the digital representation of physical assets on the blockchain, alongside offering management solutions for stablecoins and various Web3 projects.

Central Bank Group Starts Tokenization Project to Enhance Monetary System: A new initiative called Project Agorá has been kickstarted by a consortium of central banks, led by the Bank for International Settlements. The project aims to explore and develop a system that combines tokenized bank deposits with digital central bank currencies to enhance the current financial system.

Bitget Lists Goldfinch (GFI) Expanding its Real World Asset (RWA) Offerings: Bitget, a leading name in the cryptocurrency exchange and Web3 realm, has expanded its portfolio by adding Goldfinch tokens (GFI) for trading. This move is part of Bitget’s effort to blend traditional financial assets with the burgeoning field of digital assets.

Acura Capital and Patex, Valued at $100M, Set to Launch State-of-the-Art Digital Bank: Acura Capital, in collaboration with Patex, announces the upcoming launch of a groundbreaking digital banking platform. With Acura’s vast experience in Web2 finance and Patex’s blockchain expertise, this venture aims to revolutionize banking with a focus on security, efficiency, and accessibility.

Discover How Truflation Is Leading the Way on RWA: Truflation is gearing up for its initial decentralized offering (IDO), standing at the forefront of incorporating real-world assets (RWAs) into the blockchain. This development is part of a broader trend that sees traditional assets making their way onto digital platforms.

$2.7T general insurance industry meets tokenized RWAs: Nayms, a novel insurance marketplace on the blockchain, has become part of the Cointelegraph Accelerator program. This move highlights the potential for blockchain technology to address the inefficiencies within the $2.7 trillion general insurance industry.

HSBC bets on Gold to Showcase Tokenisation Capabilities: HSBC has taken a significant step into the realm of digital assets by issuing its own gold tokens in Hong Kong, marking a pioneering move towards the tokenization of real-world assets for retail investors.

Van Eck Scion Launches Stablecoin With Investment Firm’s Support: Agora, a new startup, has successfully secured $12 million in a funding round led by Dragonfly, with VanEck managing the reserves for Agora’s stablecoin. This collaboration underscores the growing interest and investment in stablecoins and tokenized assets.

2）RWA Market Commentary

Market Overview
From ETH Taipei spotlighting the world of RWA to the tokenization of over $1 billion in U.S. Treasuries, the movement towards blending traditional assets with blockchain technology has never been more pronounced.

• ETH Taipei 2024’s Focus on RWA Tokenization: This event, spotlighted by Plume, underlined the growing interest and potential of integrating tangible assets into the blockchain, signaling a significant pivot point for the industry.
• Surge in Tokenized U.S. Treasurys: With over $1 billion tokenized, this indicates a robust confidence in blockchain as a medium for securing and managing traditional financial assets.
• Innovations and Launches: From GK8’s Tokenization Wizard to Acura Capital and Patex’s impending digital bank, the market is witnessing an influx of tools and platforms designed to bridge the gap between conventional finance and blockchain.

Market Dynamics
This week’s developments underscore a rapid expansion phase within the tokenized asset market, driven by technological innovation, strategic partnerships, and institutional interest. The overall market sentiment remains positive, buoyed by the potential for blockchain to revolutionize asset management and investment.

• RWA Market Performance: Despite a notable dip in RWAs monthly performance, the sector’s resilience is evident in its third-ranking position and the increase in its Week-on-week growth, now standing at $8.2 billion.
• Noteworthy Gainers: Lucidao, Crypto Real Estate, and Wecoin have emerged as top performers, showcasing the diverse potential of tokenized assets across different domains within RWA.

3）Narrative Overview

Top Performing narratives (MTD performance):

• Account Abstraction: +0.2%
• Liquid Restaking: -2.4%
• RWA: -13.5%

RWA Index Ranking 3rd

https://dune.com/cryptokoryo/btc-pairs

4）RWA Category Insights

Market Cap: $8.5B (-0.6%)

Top Gainers:

• Lucidao (+138%)
• Crypto Real Estate (+117%)
• Wecoin (+116%)

Market Cap Ranking:

• Ondo $ONDO
• XDC Network $XDC
• Polymesh $POLYX

5）Tokenized Assets Analytics

Private credit

• Active Loan Value: $610M
• Total Loans Value: $4.4B
• Total Loans: 1849

Tokenized Treasures

• Total Value: $1B (-1.8%)
• Average Yield To Maturity: 5%
• Holders: 664

Stablecoins:

• Market Cap: $150B (+0.6%)
• Weekly Transfer Volume: $547B (+9%)
• Weekly Active Addresses: 845k (+11%)

Conclusion

Overall, the market is witnessing an influx of innovative tools, platforms, and initiatives aimed at bridging the gap between conventional finance and blockchain.

Prominent players, including Galaxy Digital, central banks, and established financial institutions like HSBC, are actively exploring and implementing tokenization solutions, further validating the potential of this emerging trend.

About Plume

Plume is the first modular L2 blockchain dedicated for all real world assets (RWAs) that integrates asset tokenization and compliance providers directly into the chain. Our mission is to simplify the convoluted processes of RWA project deployment and offer investors a blockchain ecosystem to cross-pollinate and invest in various RWAs. In addition, Plume enables RWA composability through its thriving DeFi applications and provides access to high-quality buyers to increase liquidity for all tokenized RWAs.

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