🚀 Wyoming Stablecoin, Ondo GM Launch Date, The Mooch, and More

Summary and Key Takeaways

1. Wyoming State Issues Stablecoin: FRNT

Wyoming has become the first state to issue their own stablecoin, the Frontier Stable Token (FRNT) is available on 7 chains. That said it seems inflows from public access will go towards Solana initially via Kraken and Avalanche through crypto card platform Rain. This announcement brings up conversations around states’ abilities to issue their own stable tokens versus currency being managed at a federal level, in addition to other concerns around commercialization. Make sure to check the Market Movements section of this week’s Security Token Show Episode. Regardless, it’s a signal that stablecoin issuances will come from left and right whether it’s different states, businesses, or other entities via Stablecoin-as-a-Service businesses. Will there be liquidity fragmentation or what’s the solution? Share your thoughts as well on the RWA Watering Hole X Spaces with the RWA Foundation on Thursdays at 10am!

2. Anthony Scaramucci is Bringing $300M in SkyBridge Funds on Avalanche via Apex

Even though The Mooch was already pro-web3, a fund manager deciding to tokenize two of their funds with a size in the hundreds of millions is a big win for the industry. It’s no coincidence this comes right after the Tokeny acquisition, giving the group a chance to reintroduce their Apex Digital 3.0 platform. We expect there to be a lot more fund tokenization in the remainder of 2025 given the increased legitimacy that’s coming to the space, from issuers like large funds coming onchain to legacy players expanding their services to accommodate them. This is also a big win for Avalanche (Herwig’s Company of the Week) from a high-profile perspective, adding to their track record of, for example counties and DMVs, in addition to cool use cases like Whiskey in section 5.

3. Double Dose of DigiShares: Legacy Miami via FraXion and VLRM Markets

DigiShares is on fire this week with not one but two pieces of news. Starting with our Miami-based press release, FraXion is using DigiShares’ RealEstate.Exchange as their first client to officially go live with their offering around The Legacy Miami. This is a hotel and residences development in a new commercial area called Miami World Center which the team has seen grow then pause development. Could this be part of the solution? This is a debt offering meaning it could be used towards continuing construction. We’ve talked about using tokenization as an alternative financing option for years so good on the development group for doing so and congratulations to DigiShares and Polygon for RealEstate.Exchange’s first offering.

DigiShares isn’t stopping there, Valereum wants to use them as a white-label solution to specifically issue assets on ZIGChain. This is a new blockchain which DigiShares will look into supporting and has signed an MOU in the meantime.

4. REtokens Announces REtokens Capital: Broker-Dealer/ATS

It’s been a long time coming for REtokens’ Tyler Vinson, David Kirschbaum, and team as they’ve been pursuing their broker-dealer/ATS license. Let’s put our hands together as they announce their new REtokens Capital, LLC which aims to power primary and secondary onchain markets, but with a focus on real estate offerings. This is a great opportunity to concentrate liquidity around an asset class rather than tokenized markets as a whole which we’ve seen in the past. What does it mean for issuers? It means the platform and marketplace is also built with attention to real estate needs, such as supporting real estate syndication and other tools. 

5. Scottish Distillery from 1779 Chooses Avalanche to Tokenize

Tokenizing whiskey has been a popular application for some years now but never have we seen an established brand like Bowmore enter the scene. The almost 250 year old company hasn’t lost its ability to innovate with a new signature line of tokenized bottles going up for pre-sale on Suntory using the Avalanche blockchain or as they would say, a Bowmore L1 (or maybe Suntory’s L1?).  The collection will debut at Token2049 coming up in Singapore at the end of next month where the NFTs can be redeemed. 

6. Ondo Global Markets Announced to Launch September 3rd

It was revealed earlier this year that Ondo’s platform to enable foreign investors access to tokenized US public equities would launch this Summer. This deadline will be hit just in time as the company is preparing everyone for it to go live mid-next week. Ondo’s native token $ONDO ranks at #38 in size on CoinMarketCap at the time of writing, possibly suggesting there is a lot of excitement and interest around this. 

This is not financial advice.

RWA Foundation & WALLY DAO

Check out this new ad for RWAs created by STM in-house using AI and a weekend of messing around. Learn More at WALLYDAO.xyz

Think Like Herwig

Hello readers,

Hopefully everyone is finishing up their battery recharge for the Summer because the markets are suggesting things are about to unravel in a big way. The ATHs being fueled (in my opinion) by legislation, treasury companies, and RWAs are going to lead more capital onchain whether it be from appreciation for existing holders or new buyers FOMOing in. 

Unlike previous cycles, stablecoins are now a prevalent and almost default option for settlement. There was a massive boom into alt coins before because of this. Stablecoins are just vanilla RWAs, onchain money. Now, this time around, there are more RWA options beyond stablecoins. I’m excited to see what this potential market surge will mean for RWA growth and even the project tokens tied to them. Is this finally the cycle of RWAs? Or does that come after a crypto surge? We’re going to find out soon enough!

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

Follow me on X / LinkedIn

Companies of the Week

Company of the Week - Herwig: Avalanche
Company of the Week - Kyle: Fanable

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! 

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)