🚀 Digital Asset Raises $135M & Clearpool's ETPs

Your First Captivating Topic of the Week

💸 Digital Asset Raises $135M for Canton Network

Institutions are voting with dollars and this time they’ve singled out Digital Asset, the firm behind the Canton Network’s privacy-first blockchain. A fresh $135 million strategic round led by DRW Venture Capital and Tradeweb Markets brings some of the biggest names on Wall Street and in crypto onto the company’s cap table. The idea behind Canton is that composability and confidentiality no longer have to be trade-offs.

Let’s Dive In

• Raise Size: $135M

• Leads: DRW Venture Capital, Tradeweb Markets

• New & repeat backers: BNP Paribas, Circle Ventures, Citadel Securities, IMC, DTCC, Virtu Financial, Paxos, and others

• What’s live on Canton already: $12B+ worth of bonds, money market funds, commodities, repos, mortgages, life insurance and pilots with Goldman Sachs & BNY Mellon

So with all this in mind, why does this matter?
Aside from the configurable privacy, collateral mobility could scale as well through Canton. With DTCC, Tradeweb, and Citadel now in the room, expect faster bridges between listed securities, OTC derivatives, and tokenized cash, the plumbing capital markets need before intraday settlement becomes the norm.

From JPM’s deposit token push to a public blockchain to Securitize’s onchain institutional leveraging DeFi (see what I did there 😉), 2025 is shaping up as the land-grab year for interoperable RWA venues. As for Canton, their bet is that institutions will rally around a network that feels familiar while still having blockchain finality (think FIX meets DAML, Canton’s language).

If privacy and composability can coexist in an L1, will tokenized treasuries and money market funds graduate to multi-trillion-dollar clearing rails? Or will there be another asset class that gets impacted even more? Join us on Monday’s Onchain and let us know where you see the first breakout use case!

A huge congratulations to Yuval, W. Eric, Liz, and the whole Digital Asset team! Curious to learn more? Here’s the video of co-founder W. Eric Saraniecki speaking at TokenizeThis!

This is not financial advice.

TokenizeThis Report

It was great having hundreds of people in the RWA space join us at TokenizeThis 2025 earlier this year! After listening to hours worth of 50+ speakers’ insights, we’ve put together a report to summarize it all up for you.

We cover the key takeaways from each of the sessions throughout the conference, including some key quotes and themes. TokenizeThis covered topics ranging from yieldcoins & DeFi vaults for RWAs to institutional infrastructure & onchain lending. Give it a read and share your thoughts on social media - don’t forget to tag us (@Markets_Onchain on X, STM.co on LinkedIn)!

Want to watch the panels, fireside chats, and keynotes?
Find all the recordings on our YouTube!

Monday’s Onchain: Weekly X Spaces

 Join us on Monday’s Onchain to talk about
📰 Tokenization News
🚀 New RWAs
⭐️ Featured Guests and more!

Set your reminder and see you there!

Your Second Captivating Topic of the Week

🚀 Clearpool Announces Onchain ETPs

Clearpool officially unveiled Port, ETF-style vaults that turns RWA yields into a single token, portUSD. The maiden voyage features 3 exchange-traded products (ETPs) engineered for different appetites:

Flagship RWA (broad mix of yield-generating RWAs)
CeDeFi (staking + delta-neutral trading strategies), and
Credit (factor financing through longer-dated private loans)

Let’s Dive In

• Structure: ETPs that rebalance onchain, think ETF plumbing without the Wall Street gatekeepers

• Custody & NAV: Assets held with licensed custodian Hex Trust; NAV struck and attested by 3rd party

• Dual-Layer Liquidity: Stablecoins and short-dated T-bills

• Governance: $CPOOL holders vote on asset mix and weights, bringing the index committee onchain

• Operates on L2: Built on Ozean, Clearpool’s Optimism-powered roll-up designed specifically for RWA

We’ve seen a lot of single-asset tokenization, but mixing multiple onchain and offchain assets into one redeemable token flips the script. This could blur the line between DeFi vaults and TradFi funds (ETFs). Furthermore the illiquid loans on the credit ETP, for example, won’t be able to keep up with intraday exits. So the “liquidity sandwich” they’re making with volatile crypto cash and sleepy T-bills could be a template for other RWA index products.

One of the more interesting parts is instead of having an internal committee sort out allocations, Clearpool/Ozean/Port is leaving inclusion and weightings up to the $CPOOL holders with the ETPs rebalancing based on shifts in yield, risk, or market conditions. This is definitely an experiment we’ll be keeping an eye on closely as community-driven governance of index products could be the future of DeFi vaults and baskets of assets, however could also present challenges in a still developing RWA market.

If retail can one-click mint portUSD for diversified, audited yield, do platforms like Robinhood list it alongside their ETF menus? Or will regulators force onchain products to stay in the DeFi garden a bit longer? Let us know where you stand!

This is not financial advice.

Companies of the Week

Company of the Week - Herwig: Global Settlement
Company of the Week - Kyle: Oxbridge Re

Find out why and more every Friday live around 12pm EST on LinkedIn or X/ Twitter. Past episodes available on Youtube or your favorite podcast platform! 

RWA Foundation & WALLY DAO

Check out this new ad for RWAs created by STM in-house using AI and a weekend of messing around. The WALLY DAO website is officially live! Check it out at WALLYDAO.xyz

Reports

RWA Tokenization: Key Trends and 2025 Market Outlook

Check out a report we contributed to: RWA Tokenization: Key Trends and 2025 Market Outlook. Led by Brickken, this report brings multiple parties together in diving into tokenization, with STM.co supporting with both data and some of the written sections.

What’s Inside?

✅ A Breakdown of Tokenization and Related Benefits
✅ Key advantages for issuers, investors, and institutions
✅ How the market is evolving and trends shaping adoption in 2025
✅ What’s next? Expert insights on regulation, DeFi integration, institutional involvement, and market growth

STM’s RWA Market Prediction for 2030

STM.co is proud to release a thorough report on our prediction on the tokenized real world asset market growth. This report explores the variety of opportunities within each asset class to capture value on-chain.

Tokenization can be applied to just about any object and asset type. Art, carbon credits, life insurance, and other sub $5 trillion asset classes weren’t even considered in estimates.

In order for STM.co to derive its 2030 market predictions, the following asset classes were evaluated: currency, M2/M3, real estate, commodities, public equities, private companies and funds, bonds, credit and lending markets.

This is not financial or investment advice.