Market Insights

What Rules Shape Tokenized Assets? A Reader's Map of RWA Regulation

Tokenized real-world assets do not sit outside the law. In most jurisdictions, regulation follows the underlying asset, not the token wrapper, so a tokenized fund is still a fund and a tokenized bond is still a bond.

2026-07-21 · 8 min read

Market Insights

Real Estate Tokenization: Why Does the Hardest RWA Category Move Slowly?

Real estate is the most-cited tokenization use case, yet adoption lags tokenized treasuries and private credit. This article explains why — off-chain title transfer, appraisal-based valuation, lumpy and heterogeneous properties, tenant-dependent income, and thin secondary liquidity.

2026-07-21 · 7 min read

Market Insights

Secondary Markets for Tokenized Assets: Why Do Venues Matter as Much as Tokens?

A token can be transferred in seconds, but selling it requires a venue, an eligible buyer, and enough order depth. This article maps where tokenized securities actually trade today — platform-internal windows, regulated exchange pilots, and OTC desks — explains why many tokens only move.

2026-07-21 · 8 min read

Market Insights

Why Are Institutions Tokenizing Funds and Treasuries?

Major asset managers such as BlackRock and Franklin Templeton have launched tokenized money-market and treasury funds. This article explains what these products are, why institutions issue them — settlement speed, programmability, collateral use, and distribution — and what the trend does.

2026-07-20 · 8 min read

Research

Tokenized Funds vs ETFs: Why a Fund Token Is Not an ETF

Tokenized funds and ETFs can both give exposure to pooled assets, but they are built on different structures. This article compares legal rights, pricing, liquidity, disclosure, and exit mechanics.

2026-07-19 · 7 min read

Research

Primary Subscription vs Secondary Transfer: Two Ways RWA Exposure Changes Hands

RWA exposure can enter an account through primary subscription or secondary transfer. The two paths differ in pricing, approvals, documents, settlement, and exit expectations.

2026-07-18 · 7 min read

Research

Audit, Attestation, and Proof of Assets: What Each Check Actually Shows

Audit, attestation, and proof-of-assets reports are often grouped together, but they test different things. This article explains what each check shows and what it cannot prove.

2026-07-16 · 8 min read

Research

How Does the Token Know What the Asset Is Worth? NAV, Oracles, and Reporting in On-Chain RWA

Every RWA token points at an asset that lives off-chain, so its value has to be reported onto the chain by someone. This article explains who computes NAV and how often, how values reach the token layer through manual updates, oracles, and attestations, what proof-of-reserves reports do and do.

2026-07-16 · 13 min read

Market Insights

Pre-IPO RWA Platforms: How Access Models Differ

Platforms offering pre-IPO RWA access typically use one of three structures: a feeder fund, a dedicated SPV, or a direct tokenized share meant to track the underlying stock.

2026-07-13 · 6 min read

Research

Stablecoins vs Tokenized Money-Market Funds: What Is the Difference?

Stablecoins and tokenized money-market funds both put cash-like value on-chain, but they are built differently. One is a payment instrument backed by issuer reserves; the other is a regulated fund whose token represents a share.

2026-07-13 · 12 min read