Charles Schwab, the U.S. brokerage giant overseeing roughly $12-13.3 trillion in client assets, circulated research on October 21 naming Avalanche a leader in real-world assets (RWAs) and institutional use cases. Schwab’s designation centers on two strengths: letting organizations deploy custom Layer-1 subnetworks, and supporting what the research calls high-utility financial activity. Schwab Crypto plans to add AVAX, SOL and LINK trading by the end of 2026.

Ondo Finance said total value locked across its tokenized products has crossed $4 billion, with over $1.3 billion now in tokenized stocks and ETFs. Onchain data shows 166,723 active addresses over the past 30 days, a 100.16% increase from 83,295 three months earlier – ahead of the active user base of PayPal’s PYUSD (market cap around $2.86 billion).

Token Terminal data shows the tokenized-stock market has reached $4.4 billion, up 886% year over year. Ondo ($1.3B), Binance bStocks ($1.2B) and xStocks ($1.0B) together control roughly 80% of outstanding value. Binance Research reported the same day that bStocks reached $1 billion in AUM 125 days after launch (Ondo took 265 days), with the five largest holdings now accounting for less than half of assets, down from roughly 97%.

The SEC’s proposed Regulation Crypto Assets framework hit its October 20 public comment deadline. Ripple submitted a comment letter the same day backing the distinction that investment contracts – not crypto assets themselves – qualify as securities, citing over $150 million spent clarifying regulatory questions. Bitwise and the Hyperliquid Policy Center also demanded clearer rules on token classification, airdrops and secondary-market trading.