Stablecoins Move Into Bank Settlement, Tokenized Stocks Open a 24/7 Window
Today’s Focus
The tokenized Treasury market has reached $16 billion, with BUIDL reclaiming the top spot at $2.8 billion. Robinhood is plugging into Arcus to open 24/7 trading across 200+ tokenized stocks, and Lloyds and Visa settled a $750,000 cross-border USDC payment in under an hour, including over the weekend.
Industry Flash
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Robinhood Wallet plugs into Arcus RFQ — 24/7 trading across 200+ tokenized stocks for eligible users, covering weekends and market closures; Arcus has processed over $3.5 billion in cumulative volume from 10,000+ traders.
Lloyds and Visa settle a USDC cross-border pilot — a $750,000 USDC obligation cleared in under an hour including weekends, the first stablecoin settlement trial between Visa and a major UK bank.
SEC launches a five-year Innovation Exemption — approved venues may trade certain tokenized securities on public blockchain infrastructure; the CFTC simultaneously expanded its no-action framework for blockchain developers, and crypto rallied over 10%.
South Korea advances tokenized-securities rules — a plan to bring stocks, bonds and funds under a regulated framework with a 100 million won annual net-purchase cap per retail investor; the public-comment period runs to November 11, with legislation effective February 2027.
Evernorth merger clears, 473 million XRP headed to Nasdaq — the Armada SPAC combination is set to close October 7, with shares trading under XRPN around October 8, creating the largest publicly traded pure XRP treasury company.
Token Terminal: onchain RWAs at $46.2 billion — excluding stablecoins; Ethereum holds about 48% ($22.2 billion), US Treasuries are the largest category near $13.9 billion, and tokenized stocks led 30-day growth at about $592 million.
Nasdaq invests $100 million in Kraken’s parent — deepening the tokenized-equity partnership and co-developing the Nasdaq Equity Token framework, while supplying market surveillance across crypto, tokenized equity and derivatives.
AsiaStrategy and Plume weigh a tokenization JV — combining Plume’s tokenization infrastructure with Sora Ventures’ distribution across Japan, Korea, Hong Kong, Thailand and the UAE to bring compliant onchain products to Asia.
TRON DAO hosts a KBW 2026 RWA forum — themed “RWAs Are Eating the World,” with Tether’s tokenization lead alongside PancakeSwap’s CEO; onchain USDT circulation tops $94 billion.
24/7 demand for tokenized stocks is confirmed — over half of the roughly $9 billion in 2026 tokenized-stock volume traded outside regular US hours, yet typical onchain tickets are only about $45, so large orders still rely on traditional market making.
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