Binance has launched RWUSD, a new principal-protected yield product offering up to 4.2% APR benchmarked against tokenized U.S. Treasury bills and other real-world assets.

The offering aims to continue Binance’s plan to incorporate off-chain financial instruments into its Earn product suite while avoiding direct exposure to tokenized assets.

Users can subscribe to RWUSD using stablecoins like USDT or USDC, depending on regional availability. Upon subscription, Binance issues RWUSD in a 1:1 ratio to a user’s Spot Account, with no associated subscription fees.

Redemption is only permitted in USDC at the same 1:1 ratio, regardless of the initial stablecoin used. Fast Redemption and Standard Redemption options carry fees of 0.1% and 0.05% respectively, though Binance may periodically waive Fast Redemption fees at its discretion.

RWUSD is not a stablecoin

According to Binance, RWUSD is neither a stablecoin nor a tokenized asset, nor does it represent ownership in any RWA. Instead, it functions as a ledger entry reflecting a user’s principal and accrued rewards within Binance’s infrastructure.

Unlike stablecoins, RWUSD cannot be traded, transferred to other accounts, or withdrawn on-chain. However, like stablecoins, it may be used as collateral for Binance VIP Loans, providing yield continuity even when leveraged within Binance’s loan ecosystem.

Rewards accrue daily and are distributed in RWUSD directly to the user’s Spot Account. Yield rates are determined at Binance’s discretion and benchmarked against instruments such as tokenized U.S. Treasury bills. The APR is flat across all deposit sizes, with no tiered rates or limits on subscription amounts up to $5 million per user.

RWUSD begins accruing rewards the day after subscription, based on the lowest daily balance held. Distribution occurs two days after the subscription, and rewards are only issued for balances above 0.01 RWUSD. Redemption timing varies by method: Fast Redemption delivers USDC instantly, while Standard Redemption returns assets to users by 10:00 UTC on the third day following the request.

Although RWUSD is benchmarked to yields derived from tokenized RWAs, Binance explicitly clarifies that it does not constitute a tokenized security, fund, or transferable on-chain asset. The firm emphasizes that users have no direct claim to the underlying RWAs or the income generated.

RWUSD is unavailable to U.S. persons and subject to change in yield rates, subscription caps, and redemption conditions, per Binance’s internal policies.

The product’s backing stems from revenue streams within Binance’s ecosystem and select off-chain assets, not from on-chain collateral or third-party custodians.

RWUSD remains confined within Binance’s closed-loop system, aiming to appeal to yield-seeking users with high subscription thresholds and collateral options, without directly engaging with tokenized securities markets.

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Journalist

Tanzeel Akhtar

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Tanzeel Akhtar

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Tanzeel Akhtar is a seasoned journalist who has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal,…

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July 16, 2025

According to Bitwise Asset Management, newly inaugurated U.S. leadership delivered sweeping pro-crypto reforms—including a national executive order prioritizing digital assets, the launch of a Strategic Bitcoin Reserve, and the dismissal of most Securities and Exchange Commission (SEC) lawsuits targeting the sector.

Perhaps most impactful was the official termination of Operation Choke Point 2.0, a regulatory chokehold that limited crypto’s access to traditional banking rails. These moves represented a long-awaited victory in Washington, offering the kind of policy clarity the digital asset industry had pursued for over a decade.

Despite the regulatory momentum, markets reacted with a downturn. The Bitwise 10 Large Cap Crypto Index fell 18% in Q1. Ethereum dropped 45%, and crypto equities declined by 27%. “Frustrating,” was how Bitwise CIO Matt Hougan described the quarter—a period when positive structural shifts failed to lift market sentiment.

Quiet Momentum in Stablecoins and RWAs

While token prices dominated headlines, Bitwise’s data shows a different story unfolding under the surface. Stablecoins posted $218 billion in assets under management—up 13.5% from the previous quarter—alongside a 30% surge in transaction volumes.

Tokenized real-world assets (RWAs) gained major traction, jumping over 37% quarter-over-quarter, while regulated bitcoin futures trading volume and open interest reached all-time highs. These developments indicate growing institutional engagement and pivoting toward asset types with real-world utility or compliance-first design.

“Parts of the crypto market are experiencing raging bull markets,” Hougan noted, citing stablecoins, RWAs, and bitcoin futures as key pockets of growth.

A More Resilient Q2 on the Horizon

Bitwise points to several potential catalysts in Q2 2025. These include increased global liquidity, progress on stablecoin legislation in the U.S., and a rising narrative around bitcoin’s role as a strategic hedge asset.

As central banks turn dovish and major legislative reforms gain traction, crypto infrastructure appears primed for a breakout. The expected repeal of SEC guidance SAB 121 and new banking rules could unlock further institutional participation.

Additionally, with geopolitical instability on the rise, digital assets like bitcoin are being reevaluated as long-term reserve assets by both sovereigns and corporations.

While Q1 may have underwhelmed on price action, Bitwise suggests that the structural groundwork laid during the quarter could lay the foundation for a more powerful rally in the months ahead.

CIO Warns of Fragile Progress Without Congressional Support

In May, Bitwise CIO Matt Hougan issued a stark warning about the fragility of crypto’s momentum, urging Congress to pass lasting regulation.

In a note to clients, Hougan praised recent moves by the Trump administration—such as the creation of a Strategic Bitcoin Reserve and the rollback of SEC enforcement—but stressed that these executive actions are not permanent. Without legislation, he cautioned, future administrations could easily reverse course.

Despite his long-term optimism—predicting new all-time highs and even a potential $200,000 Bitcoin price—Hougan said the industry faces a “rough summer” if lawmakers fail to deliver regulatory clarity. His comments reflect growing concern within the digital asset space that political support alone isn’t enough to secure crypto’s future.

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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July 6, 2025

Mercado Bitcoin, one of Latin America’s largest crypto exchanges, announced plans to tokenize $200 million worth of real-world assets (RWAs) on the XRP Ledger.

The move will bring tokenized fixed-income and equity instruments onto XRPL, as the exchange looks to tap into the growing market for digital versions of traditional assets, according to a statement released by Ripple on Friday.

“Mercado Bitcoin’s integration with the XRPL shows how public blockchain infrastructure is being trusted by institutions and is becoming a reliable foundation for bringing regulated financial products to the market,” said Silvio Pegado, Managing Director, LATAM at Ripple.

Push for Tokenization Rules Gains Steam in US Market

Ripple’s announcement follows a Boston Consulting Group report forecasting the tokenized RWA sector to reach a market capitalization of $19 trillion by 2033, underscoring surging interest from both crypto-native and traditional financial players.

The deal highlights momentum across the industry as asset managers and blockchain firms ramp up efforts to secure regulatory frameworks for tokenized assets, especially in the United States.

Earlier this week, Ondo Finance, a decentralized finance protocol, acquired Oasis Pro, a regulated trading platform specializing in digital securities settlements, to deepen its footprint in the RWA market.

Meanwhile, Centrifuge, another blockchain firm focused on real-world assets, unveiled plans to tokenize the S&P 500 index, offering decentralized access to a basket of America’s top publicly listed companies.

The rush into tokenized RWAs has also attracted attention from the biggest names in finance.

In January, BlackRock CEO Larry Fink publicly called on the U.S. Securities and Exchange Commission to approve tokenization of stocks and bonds, arguing it could improve market efficiency.

Last week, SEC Chairman Paul Atkins told CNBC that the “rules have not been clear” when it comes to regulating digital assets in the United States and hinted at the “imminent” boom in tokenization as a whole.

Atkins claimed that tokenization is “the next step” in order to have “much more efficiency” across markets.

Ripple Drops Cross-Appeal Against SEC to Resolve Case

Last month, Ripple CEO Brad Garlinghouse revealed the company will withdraw its cross-appeal against the SEC, adding that the regulator is also expected to drop its own appeal.

The announcement followed a U.S. district court decision rejecting a joint request from Ripple and the SEC to reduce Ripple’s $125 million civil penalty and overturn the ruling that classified Ripple’s institutional XRP sales as securities transactions.

In her ruling, Judge Analisa Torres noted Ripple’s readiness to “push the boundaries” of the earlier summary judgment, suggesting a risk of future violations.

Ripple’s chief legal officer, Stuart Alderoty, said the firm faced a choice between dropping the appeal or continuing to contest the finding.

He emphasized that regardless of the decision, “XRP’s legal status as not a security remains unchanged,” and assured that Ripple’s business operations would continue as usual.

Robinhood has submitted a 42-page proposal to the U.S. Securities and Exchange Commission (SEC) requesting regulatory clarity on the tokenization of real-world assets (RWAs) and its potential application to on-chain stock trading.

According to a Forbes report, the proposal, filed with the SEC’s Crypto Task Force, outlines a framework for compliant issuance, custody, and trading of tokenized assets, aiming to modernize US capital markets.

Quantum Economics founder Mati Greenspan told Forbes,

“This proposal could mark the first time a U.S.-regulated broker has laid out a viable path for bringing trillions of dollars in assets onchain – without compromising regulatory integrity.

If the SEC embraces this, it’s a signal to the world that tokenization has a legitimate seat at the traditional finance table.”

Robinhood’s plan includes federally licensed tokenized asset standards, integrated Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols, and a modified Form S-1 for tokenized securities.

The planned Real World Asset Exchange (RRE) would operate on the Solana (SOL) and Base blockchains.

Last month, Robinhood CEO Vlad Tenev said that the tokenization of traditional assets could secure the dominance of the US equities market.

“Tokenization of securities, which we’re very excited about, allows you to have ownership in companies…

Stablecoins are viewed rightly as an area that could increase demand among individuals overseas as governments become prone to diversifying away from holding treasuries.

So in the same way that stablecoin legislation can kind of push forward US dollar dominance, I think tokenized securities can really push forward US company dominance in the global market.”

At time of writing, the SEC has yet to issue a formal response.

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BlackRock’s USD Institutional Digital Liquidity Fund, known on-chain as BUIDL, reached $1 billion in tokenized assets as of March 2025, per data from rwa.xyz.

On March 13, the fund minted over $206 million in new tokens as liquidity continues to flow into the fund.

While Bitcoin and the broader crypto market is down over the past month, BlackRock’s BUIDL is soaring. The milestone marks a 56% increase within 30 days, reflecting growing institutional confidence in tokenized real-world assets (RWAs).

Launched in March 2024 through Securitize’s digital issuance platform, BlackRock’s BUIDL fund primarily invests in U.S. Treasury debt and bank deposits denominated in USD. Targeted specifically toward U.S. qualified purchasers, BUIDL provides token holders an APY of approximately 4.5%, managed at fees ranging between 0.20% and 0.50%.

The fund currently has 61 holders, a 19.6% increase in the past month, highlighting steady investor demand despite recent fluctuations in broader digital asset markets. While monthly active addresses dropped slightly to 19, total monthly transfer volume surged to over $269 million, suggesting substantial institutional engagement in token transfers.

Ethereum remains the primary blockchain on the fund, hosting roughly 825 million tokens across two main contracts. Smaller allocations also exist on Avalanche, Aptos, Polygon, Optimism, and Arbitrum networks within BlackRock’s multi-chain approach for asset distribution. Ethereum’s dominance, with around $267 million in combined token value from its two largest holders, underlines the continued preference among institutional investors for Ethereum-based tokenization.

According to rwa.xyz, Tokenization of RWAs has surged industry-wide, with global on-chain RWAs reaching $18.34 billion, an increase of over 18% in 30 days. BlackRock’s rapid asset growth within the BUIDL fund parallels broader market trends of institutions integrating blockchain-based instruments to optimize liquidity and yield, utilizing blockchain efficiencies to streamline traditional treasury management.

BlackRock’s BUIDL has crossed a notable threshold, and the wider institutional adoption of on-chain U.S. Treasuries and other tokenized financial instruments indicates a deepening recognition of blockchain as a viable infrastructure for traditional asset classes.

BlackRock’s achievement of $1 billion in on-chain assets firmly positions its BUIDL fund among the most influential institutional blockchain initiatives.

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Imagine unlocking the power of blockchain using the same mobile app you chat on every day. While most blockchains promise speed and scalability, Kaia hopes to go a step further: by leveraging some of Asia’s largest messaging platforms—LINE and KakaoTalk—to offer an accessible Web3 experience to hundreds of millions of people.

In this article, we’ll explore Kaia’s core features, Kaia’s Web3 gaming, and how it opens doors for real-world asset (RWA) tokenization.

The Origins of Kaia Blockchain

Kaia Blockchain is the result of a merger between Kakao’s Klaytn network and LINE’s Finschia chain. Kakao is a South Korean tech giant best known for KakaoTalk, a messaging app that dominates its local market.

LINE, on the other hand, is immensely popular across Japan, Taiwan, Thailand, and other parts of Asia, connecting over 196 million monthly active users. By combining their blockchain efforts, the two companies have pooled resources to create a platform that prioritizes ease of use and mainstream adoption.

Before the merger, both Klaytn and Finschia were focused on bringing blockchain technology to everyday users. Kaia preserves these goals but pushes them further, aiming to reduce the friction that typically comes with crypto wallets, private keys, and high gas fees.

It’s built to be a BFT-based blockchain, which stands for Byzantine Fault Tolerant—a consensus method that ensures the network stays secure and runs smoothly even if some nodes act maliciously or go offline.

Source: Kaia

Key Design Goals

Kaia’s vision revolves around five central objectives:

1. Immediate Finality: No more waiting for multiple confirmations. Once your transaction is validated, it’s considered final on Kaia.

2. High Throughput: Kaia can process around 4,000 transactions per second (TPS) and finalize blocks in just one second.

3. Low Costs: Transaction fees on Kaia are roughly 1/10 of Ethereum’s gas costs. By making fees more manageable, Kaia hopes to attract developers of all sizes—startups, large enterprises, and even hobbyists.

4. Accessibility: From EVM compatibility (meaning you can deploy Solidity smart contracts) to account abstraction and fee delegation, Kaia wants to remove obstacles standing between new users and blockchain-based services.

5. Enterprise and Industry Integration: Kaia is also designed to accommodate businesses, offering features essential for large-scale applications in finance, supply chain, gaming, and more.

LINE & Kakao Integration

A major roadblock in blockchain adoption is the complexity of user onboarding. People often need to set up external wallets, learn how to pay for gas, and grapple with complicated interfaces. Kaia tackles this by integrating directly with LINE and KakaoTalk, two platforms that are already part of people’s daily routines.

• Over 250 Million Potential Users: By plugging into existing messaging networks, Kaia gains direct access to a massive audience—enough to drive mainstream acceptance of Web3 services.

• Mini Dapps on LINE: In January 2025, Kaia launched Mini Dapps within LINE with over 420 Dapps, allowing users to interact with decentralized applications without leaving the chat environment. Instead of downloading new software or setting up specialized wallets, people can simply tap into these lightweight apps and start gaming, trading, or exploring DeFi.

• Account Abstraction & Gas Fee Delegation: Kaia enables a system where companies can cover gas fees on behalf of their users, removing yet another barrier to entry. The process aims to feel as familiar as sending a message or sharing a sticker in your favorite chat app.

Web3 Gaming on Kaia: Fast, Fun, and Rewarding

Web3 Gaming is often cited as one of the strongest avenues for mainstream crypto adoption. Here are a few games available through the LINE Mini dApp Portal:

Slime Miner

Slime Miner is an idle RPG where you recruit slime heroes and upgrade powerful drills to uncover hidden treasures. It uses a “Play-to-Airdrop” mechanic, meaning players can earn digital rewards and tokens simply by engaging with the game.

Captain Tsubasa -RIVALS-

Based on the famous soccer manga, this casual game invites you to build teams, train characters, and compete in matches.

Bombie

If you prefer a zombie-shooting game with tongue-in-cheek humor, Bombie is worth checking out. You earn $BOMBIE tokens while mowing down waves of the undead in a post-apocalyptic setting.

Goblin Tycoon

Goblin Tycoon tasks you with growing a goblin empire, upgrading resources, and battling bosses. The mix of gacha mechanics, idle progress, and NFT-like assets gives players a sense of ownership over their in-game items.

Web3 games on Kaia are built with the casual player in mind. That means fewer steps for purchasing or trading in-game tokens and a straightforward onboarding flow thanks to Kaia’s messenger integrations.

Source: Kaia

Real-World Asset (RWA) Tokenization on Kaia

While many blockchains focus on virtual items like NFTs and game currencies, Kaia takes it further by supporting tokenization of real-world assets (RWAs). This includes gold, ships, and real estate, making these traditionally illiquid and hard-to-access investments more approachable.

Existing On-Chain Assets

Some assets—like gold or real estate—are already available as tokens on Kaia, granting fractional ownership to a broad user base. Imagine being able to buy a small percentage of a high-end property or a shipping vessel without dealing with huge capital barriers or complex legal frameworks.

Partnership with IX Swap & LINE NEXT

Kaia’s collaboration with IX Swap and LINE NEXT is aimed at bringing these real-world assets directly to LINE’s 196 million monthly users. By embedding tokenized assets within the LINE interface, Kaia hopes to transform the app into a hub for simple, user-friendly investing.

Integration with DeFi Protocols

Kaia supports lending, borrowing, and trading functionalities for these RWAs. Thanks to low fees and high throughput, users can move in and out of these assets quickly, opening the door to a new generation of investors who may have been wary of crypto’s technical hurdles.

Kaia’s Native Coin (KAIA)

Every blockchain needs its own engine that powers the ecosystem, and for Kaia, that’s KAIA. Like Ethereum’s Ether (ETH) or Polygon’s MATIC, KAIA covers transaction fees, rewards network validators, and pays for smart contract executions. Beyond these basic functions, KAIA has an essential role in Kaia’s governance framework.

• Transaction Fees: Developers and users spend KAIA whenever they execute a smart contract or transfer tokens on the Kaia network.

• Staking & Incentives: Consensus nodes (CNs) secure the network by validating transactions, and they’re compensated with KAIA for their work.

• Governance Participation: While large, reputable companies currently govern Kaia, the plan is to open up decision-making to a broader community, including DAOs (Decentralized Autonomous Organizations) that shape Web3 experiences.

Decentralization & the Road Toward DAOs

Kaia began with a Governance Council made up of 31 major corporations (now standing at 45 Governance partners)—each one a trusted entity overseeing the platform’s stability. As the network matures, Kaia aims to welcome more diverse voices into governance, such as community leaders, DAOs, and even gaming guilds.

• DAO Involvement: Decentralized Autonomous Organizations are a growing force in Web3, and Kaia envisions them as crucial pillars in the metaverse. DAOs can propose new platform features, vote on treasury spending, or set guidelines for how RWAs are managed.

This balanced approach allows Kaia to benefit from corporate-grade reliability while still moving toward a user-driven future.

Enterprise-Ready Features

Kaia isn’t just about entertainment and small-scale applications; it’s engineered to handle enterprise-grade workloads. Immediate transaction finality, along with fast throughput, means that large-scale financial platforms, supply chain solutions, and data management systems can run smoothly on Kaia.

Getting Started with Kaia

If you’re interested in diving into Kaia, here’s a quick roadmap:

Setting Up Your Wallet

Kaia is EVM-compatible, meaning you can typically use popular wallets like MetaMask—just point them to Kaia’s network details. Additionally, Kaia might offer native wallet solutions or messenger-based wallets for even simpler experiences.

Acquiring KAIA

Look for KAIA on crypto exchanges once it’s more widely listed. Some platforms may even integrate directly with LINE or KakaoTalk, allowing you to buy KAIA without leaving the chat interface.

Exploring Mini Dapps

If you already use LINE Messenger, check out the Mini Dapps section to see if any interest you. You can start with a quick game or browse simple financial services without the usual crypto complications.

Building dApps

Developers can head here for tutorials on how to get started. With Kaia’s high TPS and low fees, you can focus on your app’s features rather than battle network congestion.

Conclusion

By focusing on immediate finality, low fees, EVM compatibility, and messenger integration, Kaia ensures that everyday people—most of whom have never touched crypto—can enjoy the benefits of Web3 effortlessly.

With a growing list of partnerships, a governance model that values both stability and future decentralization, and a thriving gaming ecosystem, Kaia is looking to position itself to become a cornerstone of the next wave of blockchain innovation.

The Cosmos ecosystem is becoming a hub for Real-World Assets (RWAs) with the recent announcement of Ondo Finance’s new Layer 1 blockchain purpose-built for institutional-grade RWAs, Ondo Chain.

Ondo Chain was revealed at the Ondo Summit in New York, which featured a surprise closing speaker, Donald Trump Jr. “The future of RWAs in the US is bright, and new leadership has the potential to make the US the global center for crypto,” posted the Ondo Finance account.

According to Ondo Finance’s blog, Ondo Chain is an omnichain network designed to support RWAs, with features like verified collateral and native margin capabilities.

Ondo Finance has already expanded its presence in the Cosmos ecosystem through its integration with digital asset issuer Noble, bringing tokenized treasuries to the platform and increasing the uptake of Ondo’s US-backed products across over 90 blockchains.

Noble’s partnership with Ondo Finance has also led to the launch of USDY, a native yield-bearing stablecoin for Cosmos ecosystem blockchains. This development highlights the growing importance of the Cosmos ecosystem in the burgeoning RWA segment with a market cap at over $35 billion today.

“Cosmos has the biggest emerging RWA ecosystem with [Noble], [Ondo Finance], [Mantra] and [REDACTED] coming soon. This should be no surprise that the world is coming on chain in Cosmos—real assets and real companies demand real scale and real control,” commented Barry Plunkett, co-CEO of Interchain Labs (formerly Skip Protocol).

Cosmos-based Mantra has also recognized the potential of RWAs in the space. Despite the broader downturn in the crypto markets following President Donald Trump’s tariff orders which caused $2 billion in liquidations, Mantra’s OM token remains up by over 68% in the last 14 days, reflecting rising institutional demand.

Mantra co-founder and CEO JP Mullin posted:

“The deals are getting bigger. The institutions are getting more credible than ever. The money involved is getting real. And we’re hungrier than ever.”

The launch of Ondo Chain and USDY demonstrates the increasing adoption of RWAs in the Cosmos ecosystem and the continued innovation and growth in RWA-based financial products and services.