Original | Odaily Planet Daily (@OdailyChina)
Author | Ethan (@ethanzhangweb3)_
RWA Market Performance
According to the latest data from RWA.xyz, as of August 12, 2025, the total on-chain value of RWA is $25.62 billion, an increase of $310 million from $25.31 billion on August 5, with a weekly growth rate of approximately 1.22%, continuing the recent moderate upward trend. The number of on-chain asset holders increased from 342,205 to 349,057, with a net increase of 6,852 people in one week, a growth of 2.00%. The number of asset issuers increased by 2 to 259, maintaining growth for two consecutive weeks. In terms of stablecoins, the total value rose from $257.82 billion to $260.93 billion, an increase of $3.11 billion, with a growth rate of 1.21%; the number of stablecoin holders increased from 187.53 million to 188.67 million, with a net increase of 1.14 million people in one week, a growth of 0.61%.
From the asset structure perspective, private credit increased from $15.3 billion to $15.6 billion this week, a growth of 1.96%, occupying the market core. U.S. Treasury bonds slightly rose from $6.6 billion to $6.66 billion, ending a two-week decline. Commodity assets increased slightly from $1.8 billion to $1.9 billion, recording growth for two consecutive weeks. Institutional alternative asset funds decreased from $825.6 million to $784.7 million, a month-on-month decline of 4.95%, becoming the only significantly declining asset category this week, possibly related to some institutions adjusting their non-standard asset portfolios and realizing profits.
Trends (Compared to Last Week)
This week, the RWA market continued the trend of "moderate expansion + structural adjustment." The number of on-chain users continued to grow, and the number of asset issuers also increased, maintaining a stable pace of ecological expansion. Structurally, funds have achieved simultaneous allocation between high-yield assets and defensive assets, with both private credit and U.S. Treasury bonds rebounding, indicating a balance between risk appetite and safety allocation is forming. Commodity assets showed a slight upward trend, reflecting ongoing market interest in inflation hedging and diversified allocation against the backdrop of inflation and commodity price fluctuations. In contrast, institutional alternative funds saw a significant decline this week, which may indicate that some institutions are choosing to lock in profits or reallocate funds to more liquid and safer assets amid the overall steady rise in the market.
Key Events Review
Blockchain Lending Platform Figure Technology Solutions Submits IPO Draft to U.S. SEC
Blockchain lending platform Figure Technology Solutions has submitted a confidential draft for an IPO to the U.S. Securities and Exchange Commission.
According to previous reports, Figure Technology Solutions is a startup that provides housing loans on the blockchain and operates a cryptocurrency exchange. Its co-founder Mike Cagney stated that the company plans to go public this fall and is leveraging the White House's more crypto-friendly policies and growing investor interest in the industry to drive related business development.
Ripple to Acquire Stablecoin Platform Rail for $200 Million
Ripple will acquire the stablecoin platform Rail for $200 million, with the transaction expected to be completed in the fourth quarter of this year. Rail is a payment platform based in Toronto, backed by Galaxy Ventures and Accomplice.
Clearing Company Marex Integrates JPMorgan's Blockchain Settlement System
Clearing company Marex announced that it has integrated with JPMorgan's blockchain settlement system Kinexys Digital Payments through a partnership with Brevan Howard Digital, aiming to modernize payment infrastructure and reduce settlement risk by utilizing programmable, always-on digital ledger technology.
Galaxy Plans to Issue Tokenized Stock GLXY
According to market news, Galaxy plans to issue tokenized stock GLXY and has signed an RWA platform agreement with Robert Leshner's Superstate.
MetaMask Partners with Stripe to Launch mmUSD Stablecoin, Expanding DeFi Payment Ecosystem
MetaMask is collaborating with Stripe to launch the dollar-pegged stablecoin MetaMask USD (mmUSD) and plans to deeply integrate it into MetaMask's decentralized application tools. Leveraging Stripe's payment infrastructure, mmUSD will enable efficient fund flows between the banking system and blockchain platforms, enhancing the usability and stability of crypto payments.
Hot Project Updates
MyStonks (STONKS)
One-Sentence Introduction:
MyStonks is a community-driven DeFi platform focused on tokenizing U.S. stocks and launching them for on-chain trading. The platform collaborates with Fidelity to achieve 1:1 physical custody and token issuance, allowing users to mint stock tokens like AAPL.M and MSFT.M using stablecoins such as USDC, USDT, and USD 1, and trade them around the clock on the Base blockchain. All transactions, minting, and redemption processes are executed by smart contracts, ensuring transparency, security, and auditability. MyStonks aims to bridge the gap between TradFi and DeFi, providing users with a high liquidity, low-threshold entry for U.S. stock investments on-chain, building a "NASDAQ of the crypto world."
Latest Updates:
On August 8, MyStonks announced that it has successfully completed the filing for a U.S. securities token offering (STO), obtaining compliance qualifications for issuing securities tokens to U.S. accredited investors.
On August 11, MyStonks announced the official launch of contract trading public testing at 16:00, supporting perpetual contracts for U.S. stock tokens in the RWA sector, with leverage adjustable up to 20 times and a matching engine providing millisecond-level feedback. The contract transaction fee of $9,283.75 from last week will be refunded in BMNR.M tokens, and the refund mechanism will terminate after the public testing starts.
Pharos (/)
One-Sentence Introduction:
Pharos is a next-generation Layer 1 public chain focused on RWA, featuring a modular design and high parallel architecture, with testnet TPS reaching up to 30,000, and an 80% improvement in storage efficiency through a GPU-like architecture, capable of supporting billions of users. Its core team comes from Ant Group, Alibaba Blockchain, and leading Web 3 projects, possessing rich experience in institutional finance and on-chain ecosystems. Pharos focuses on serving institutional-level RWA scenarios and enterprise-level DeFi needs, aiming to provide high-performance infrastructure for traditional institutions entering Web 3. In November 2024, the project secured $8 million in seed funding led by Faction and Hack VC, with participation from SNZ Holding, Hash Global, and others.
Latest Updates:
On August 8, RWA L1 public chain Pharos announced plans to integrate the Morpho network lending infrastructure into the mainnet. This collaboration aims to bring on-chain real-world assets into a modular and transparent lending system. It is understood that the Morpho lending protocol currently secures over $9 billion in funds, marking a strategic step towards building credit channels for institutions and decentralized participants in the DeFi lending market.
Related Links
Summarizing the latest insights and market data in the RWA sector.
"The 'RWA Hedging Demand' and 'Meme Social Grammar' are like two sides of the same coin. RWA + Meme may achieve a deeper ecological symbiosis in the next bull market."
With a cash reserve of $1.2 billion, why is Galaxy betting on stock tokenization? This article will provide the answer.
The report points out that not all assets are suitable for RWA tokenization; the notion that 'everything can be RWA' is a fallacy.
"On-Chain Real World Assets: Exploring the Path of RWA Deconstructing Real Finance"
The RWA market has surpassed $20 billion, with Wall Street giants accelerating their entry.
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