Your First Captivating Topic of the Week

💸 J.P.Morgan Announces Deposit Token on Base

Stablecoins are growing quickly and the GENIUS Act passing the Senate yesterday only intensifies that as more potential issuers await legislation before acting. Then you have yieldcoins fast following with issuers like BlackRock, Franklin Templeton, WisdomTree, Superstate, and many more looking to take a slice of the pie. Circle $CRCL ( ▼ 15.54% ) has both a stablecoin AND a yieldcoin after acquiring Hashnote and just went public, bringing in more resources.

All of this has raised the question on how it’ll impact banks and their business model. On a similar, yet slightly different approach, J.P.Morgan’s Kinexys on Sunday quietly filed for a “JPMD” trademark application and is clapping back.

Is this a stabelcoin? Another version of JPM Coin? 
It’s a tokenized deposit token that will live on the Base blockchain! Unlike stablecoins that are supposed to be backed 1:1 with dollars custodied (or other backing like treasuries), the JPMD is going to represent existing deposits at the bank (commercial bank money).

What’s the difference? They’re a bank… they don’t have to have it 1:1 backed, they just need the fractional reserves to meet required deposit thresholds meaning it’s a lot more scalable. What else is intriguing? Potential interest payments (yield).

This announcement is going to once again drive internal pressure for stablecoin and yieldcoin issuers, but especially for other banks as JPM slowly moves out of their private ecosystem and into the public one for commercial use. Just earlier this year we saw them do the pilot transaction with Ondo’s public Ondo Chain (testnet) and now they’re deploying JPMD on Base, Coinbase’s L2 blockchain built on Ethereum.

With that said, this is meant to stay on a permissioned basis, allowing just the bank’s institutional clients to have access and meant for B2B, cross-border transactions within the banking framework they’re used to. There will be an initial transfer to Coinbase during this pilot with the potential for a multi-currency rollout pending regulatory approval.

Will deposit tokens become the new institutional default, or will stablecoin issuers respond with higher yields, increased transparency, and other utility to win some clients over? Let us know your thoughts on Monday’s Onchain on X Spaces!

This is not financial advice.

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

⛽️ Global Settlement Tokenizes $75M Oil & Gas Deal

There are multiple ways to get exposure to commodities, whether it’s direct ownership, investing in futures, or investing in the companies that produce them. You heard Security Token Show co-host and Global Settlement CEO Kyle Sonlin tease this on last week’s episode and yesterday we saw the latter option with Feniix Energy acquiring a producing oil and gas site in Latin America using a 100% onchain financing!

The deal was executed on the STM co-founder’s new Global Settlement GSX Protocol, with both the senior notes and the equity issued as tokens and the cash leg moved in stablecoins. This shrinks cross-border settlement from days to minutes, not just for the cash but also the securities themselves. The team says it’s the first time an operating energy asset has been acquired with every layer of its capital stack tokenized.

The Breakdown

• Issuer: Feniix Energy

• Offering Size: $75 M for a revenue-generating O&G facility.

• Instruments: Onchain debt + equity tokens covering the entire capital structure.

• Rails: Global Settlement’s GSX Protocol; payment in stablecoins.

• Efficiency gain: Cross-border settlement compressed from several days to mere minutes.

Typically STOs offer either equity or debt, however combining both pushes blockchain finance beyond treasuries and real estate into the heart of M&A activity, especially in emerging markets where traditional capital channels are thin. If this template proves cheaper and faster, will miners, refiners or renewable energy projects be the next to adopt a fully onchain capital stack?

👏 A big congratulations to Kyle Sonlin, Ryan Kirkley, and the whole Global Settlement team on their first big tokenization. We’re proud to call you friends and look forward to seeing even more! 👏

This is not financial advice.

Companies of the Week

Company of the Week - Herwig: Franklin Templeton
Company of the Week - Kyle: Clearpool

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

The WALLY DAO website is officially live!

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.

State of the Tokenization Industry 2024 Report

We are very excited to publish our State of the Tokenization Industry 2024 report with our sponsor SteelWave Digital! The STM.co team covers this year’s headlines and key takeaways, sorted into the following categories:

Search away, share it with a colleague, and revisit the same link for future updates!

This is not financial or investment advice.