🤝 tZERO Goes 24/7*, Kraken to Acquire Backed, RedStone Saves $1.5M+ for Users, and More

Summary and Key Takeaways

1. tZERO Announces 24/7 Order Entry and Extended Trading Hours, Approved for Retail Mutual Funds

tZERO’s ATS will be trading almost 24/7 starting next Monday! This is another step towards getting people used to trading on blockchain rails, where markets don’t sleep. Trading will stop for 30 minutes from 11:35pm to 12:05am ET Monday through Friday but support order entries 24/7. As Alan Konevsky put it, this helps drive the liquidity and demand as they position themselves with what crypto natives are used to seeing and where capital markets are going. This news comes shortly after tZERO was just approved to support mutual funds for retail investors. These open-end funds are prime for the 24/7 order entry news as they’re meant to be available for continuous subscriptions and redemptions, allowing retail users access at any time. Furthermore, Uphold will be leveraging these trading, clearing, and custody solutions to offer tokenized securities on their platform for millions of customers as they’ve filed with FINRA. Integrations like these put the plumbing in place to feed more liquidity to tokenized private market assets and vice versa make those assets available to larger audiences.

2. Kraken to Acquire Backed (xStocks) and Partners with Deutsche Börse to Connect Markets

Kraken may have filed for an IPO but that’s not a distraction as they continue to make big moves, starting with the acquisition of Backed Finance. The xStocks creator joining Kraken makes sense given their close partnership in distributing public market assets to the large user base (and others). It’s because of the alliance they were able to build to support xStocks and the technology’s versatility that this is a big opportunity for Kraken, putting them in a position to repurpose this for other asset classes with built-in partners to support those as well. What can they marry that with? For starters, Kraken also owns CF Benchmarks which can help with index creation but they’re also expanding to other institutional efforts. This week Kraken also announced their partnership with Deutsche Börse to connect crypto, tokenized RWAs, collateral management, and derivatives for institutional access. Cross-listing assets and making them available on each others’ platforms for their respective userbases is how liquidity can flow more frictionlessly, involving players in their ecosystem like 360T for FX, Kraken Embed for whitelabel solutions, Crypto Finance, Clearstream, and 360X.

3. RedStone Powers CAP’s cUSD, Saves $1.5M+ for Users

Stablecoins are the talk of town this year due to the GENIUS Act passing, which we now expect the FDIC to share an implementation framework for this month. Aside from everyone issuing their own, there’s also infrastructure behind the scenes that makes things like efficient collateral pricing possible and save millions in fees. RedStone helped put $300K back in users’ pockets in week 1 of deploying their new pricing oracle solution for CAP’s cUSD, a stablecoin that prices collateral assets every time someone mints it and outsources yield generation. Configured with a 0.05% deviation threshold, this feed calculates actual reserve value to defend the peg by sourcing and validating market price for each of the collateral assets in reserve. The real time pricing lowers the need for risk buffers resulting in lower minting fees for the user, dropping from 0.50% to 0.10%. This has grown to save over $1.5M and growing. This is a custom solution for a fast-moving use case and RedStone was able to deploy it in two weeks which speaks to their modularity and flexibility.

4. Figure Launches RWA Consortium for Onchain Lending with PRIME Liquid Staking Token

Figure continues to build in the credit space, now launching a consortium to expand access to Solana and other upcoming chains. Figure and Provenance Blockchain Foundation built Hastra to distribute yield from their Democratized Prime lending platform (Figure’s HELOCs) to DeFi ecosystems across multiple chains. Taking it a step further, Hastra issues PRIME, a liquid staking token that can be used on Kamino for lending/borrowing and looping to enhance yield. Through this consortium Figure is putting together the pieces needed for a successful Solana ecosystem that offers utility from the start. This makes it easier for the everyday DeFi user to get in on the same underlying loan originations as institutions just through a different vehicle that’s compatible with other DeFi applications.

5. Falcon Finance Adds Etherfurse Mexican CETES as Collateral for USDf

Stablecoins and treasuries have brought increased attention to collateralization and proof of reserves. While most are backed by US Dollars and short term treasuries Falcon Finance is expanding USDf’s collateral backing to include Mexican CETES, issued by Etherfuse. This is their first non-USD denominated sovereign yield asset, going to show how tokenization can more easily introduce diversified yield with familiar risk characteristics. The Solana-based Mexican short term bills are joining US-denominated collateral assets like Centrifuge’s diversified AAA-rated CLO portfolio token JAAA to be able to mint USDf.

This is not financial advice.

RWA Foundation & WALLY DAO Updates

The RWA Foundation introduced the RWA Pod as “A permissionless way for anyone to support RWAs using crypto with multiple RWA project tokens as yield.”

In partnership with PERQ, the RWA Pod allows you to deposit ETH, USDC, ARB, and S/ Sonic. Participants will receive tokens on multiple blockchain protocols related to RWA projects that the RWA Foundation has qualified and selected as Founding Members.

Two of the tokens in the POD rewards are Brickken’s BKN and DRVN’s BSTR. Want to learn more about them? Check out interviews with their founders now available on X and on YouTube, go ahead and check them out 👇!

STM.co Data

This is not financial advice.

Think Like Herwig

Hello readers,

We’ve got some very exciting announcements to reveal soon related to TokenizeThis as well as partners and clients for next year, some of who are working on what will define digital asset adoption in 2026 for tokenized assets. If the CLARITY act gets passed, we might see the most explosive year of growth for RWAs than every other year combined.

I suspect next year the talk of town will be tokenized equities. Lending capabilities around them, trading globally 24/7, integrating DeFi access for them. Huge volumes will flow and the use case for RWAs as stablecoins and equities will be validated and expand faster from there to all facets of finance.

What an exciting time to be in this sector!

Happy tokenizing, 
Herwig “Happy” Konings
CEO, Security Token Group 

Follow me on X / LinkedIn

Security Token Show Ends with 300 Episodes!

Check out the latest and final episode of the Security Token Show as well as the full catalog on Youtube, Spotify, Apple Podcasts & Google Podcasts.

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 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.

Helpful Resources

• $30 Trillion by 2030 - STM

• Global Tokenized Real Estate Market Guide 2024 - STM

• TokenizeThis 2024: Highlights and Key Takeaways - STM

• TokenizeThis 2023: Highlights and Key Takeaways - STM

• State of Security Tokens 2023 - Q4 - STA

• State of Security Tokens 2023 - Q3 - STA

• State of Security Tokens 2023 - Q2 - STA

• State of Security Tokens 2023 - Q1 Extended - STA

• Real-World Asset Tokenization 2023 According to STM - STM

• Tokenizing an Asset in 3 Easy Steps - Security Token Show

• Rich Data in Private Assets - STM

• State of Security Tokens 2022 - STA

• State of Security Tokens 2023 - Institutional Edition - STA

• Tokenization for Institutions - What You Need to Know - STM, Arca (YouTube)