Original | Odaily Planet Daily ( @OdailyChina )
Author | Ethan ( @ethanzhang_web3 )
RWA Sector Market Performance
According to RWA.xyz data, as of April 14, 2025, the total value of RWA on the chain reached 20.87 billion US dollars, an increase of 10.39% from 30 days ago. The total number of on-chain asset holders is 95,491, an increase of 5.59% from 30 days ago, and the number of asset issuances is 168. The total value of stablecoins is 22.651 billion US dollars, an increase of 0.63% from 30 days ago, and the number of stablecoin holders is 1.5758 million, an increase of 2.58% from 30 days ago.
From the historical trend, the total value of RWA chain has shown significant growth since 2019, especially after 2023, and reached a peak in early 2025, showing the rapid popularization of tokenized assets. In the distribution of asset categories, private credit dominates, with a value of US$12.7 billion, accounting for 61% of the total value; US Treasury Debt is worth US$5.7 billion, accounting for 27%; International Alternative Funds is US$4.36 billion, accounting for 21%; Commodities is US$1.4 billion, accounting for 7%. Stocks, non-US Government Debt and Corporate Bonds account for a relatively small proportion.
Review of key events last week
BlackRock CEO Larry Fink: Tokenization of Everything is Within Reach
BlackRock CEO Larry Fink envisions a future in which all assets (stocks, bonds, real estate) are tokenized on blockchain platforms, enabling instant trading and settlement.
In his recent annual letter to investors, Fink described tokens as digital contracts that could eliminate paper delays, reduce settlement times from days to seconds, and free up billions for reinvestment. He stressed that this vision depends on overcoming major challenges, particularly the lack of a coordinated digital identity verification system.
Fink stressed that advances in cryptography and blockchain scalability suggest that the tokenization revolution he describes is within reach, provided the industry can agree on standards and infrastructure.
Plume announces investment from Apollo Funds to advance on-chain RWAfi
Plume, a fully integrated modular blockchain built specifically for RWA, announced that it has received a strategic investment from alternative asset management company Apollo Funds. The specific amount has not been disclosed. Plume is building an EVM-compatible environment and full-stack infrastructure to transform traditional financial instruments, carbon credits, GPUs, collectibles and other alternative assets into composable digital assets and integrate practicality into its RWAfi ecosystem. The new funds are intended to be used to accelerate the development of its modular blockchain infrastructure, aiming to provide RWA on-chain services to cryptocurrency-native companies, traditional financial institutions, asset issuers, etc.
Ripple acquires crypto-friendly broker Hidden Road for $1.25 billion
Ripple acquires crypto-friendly broker Hidden Road for $1.25 billion to expand its services for institutional investors. Ripple CEO Brad Garlinghouse said the acquisition represents an effort by Ripple, the company behind XRP, to integrate a wider range of services to attract large institutions, Ripple needs to ensure that we have the right infrastructure to attract and expand to a larger group of large institutions.
At the same time, Ripple Chief Technology Officer David Schwartz said that Ripples $1.25 billion acquisition of major broker Hidden Road was a decisive moment for the blockchain payment company, which could open up more use cases for XRPLs use among institutions, such as the use of collateral and tokenization of real-world assets on XRPL in the future.
Kraken Partners with Mastercard to Launch Crypto Debit Card
Mastercard has announced that crypto exchange Kraken is working with Mastercard to enable cryptocurrency holders in the UK and Europe to spend their digital assets at over 150 million merchants worldwide. Kraken will offer physical and digital debit cards that allow customers to use cryptocurrencies and stablecoins in everyday transactions. This is the latest development in the Kraken Pay service, which launched earlier this year and supports over 300 cryptocurrencies and fiat currencies for cross-border payments. The debit cards are expected to be launched in the coming weeks.
Tether plans to launch US-only stablecoin in response to Trumps regulatory support
According to the Financial Times, Tether, the issuer of the stablecoin USDT, may launch a new token specifically for the United States. Tether CEO Paolo Ardoino said in an interview that the company has been involved in discussions about US stablecoin regulations and may create a token only for the United States, depending on the progress of these discussions.
Paolo Ardoino said that the Trump administration sees stablecoins as an “important tool for the United States” and that Tether might be interested in creating a “domestic American” stablecoin, essentially a “settlement currency,” if new rules are introduced to make (U.S.) stablecoins competitive.
Hot Projects Latest News
Mantra (OM)
Official website: https://www.mantrachain.io/
Introduction: Mantra Chain is a Layer 1 blockchain platform focused on decentralized finance (DeFi) and real-world asset (RWA) tokenization. It aims to connect traditional finance with digital assets through blockchain technology, allowing users to trade, invest and manage real-world assets such as real estate, bonds, etc. on the chain. Mantra provides high-performance blockchain infrastructure, supports cross-chain interoperability, and is committed to providing secure and compliant financial services to institutions and individual users. Its native token OM is used for network governance, payment of transaction fees, and incentives for ecosystem participants.
Latest developments: In the early morning of April 14, the price of Mantras native token OM plummeted from $6.15 to $0.37, a drop of 90% . The market value evaporated by $5.5 billion in an instant, causing a liquidation of more than $65 million across the network. On-chain data showed that at least 17 wallets deposited a large amount of OM into exchanges before the crash, and the behavior of addresses related to Mantras strategic investors and new whale addresses raised questions. (For details of the incident, please refer to the article Perspective on the OM flash crash: Behind the evaporation of $5.5 billion in market value, are all villains? )
Ondo Finance (ONDO)
Official website: https://ondo.finance/
Introduction: Ondo Finance is a decentralized financial protocol that focuses on the tokenization of structured financial products and real-world assets. Its goal is to provide users with fixed-income products such as tokenized U.S. Treasuries or other financial instruments through blockchain technology. Ondo Finance allows users to invest in low-risk, highly liquid assets while maintaining decentralized transparency and security. Its token ONDO is used for protocol governance and incentive mechanisms, and the platform also supports cross-chain operations to expand its application scope in the DeFi ecosystem.
Recent developments: On April 10, Ondo Finance CEO Ian De Bode discussed the topic of modernizing financial markets on Nasdaq’s live show @TradeTalks: Tokenization became a hot topic at the New York Stock Exchange. There is a high demand for tokenization, and he expects many crypto exchanges to offer similar products such as stocks this year. On April 11, Binance launched ONDO , causing a short-term rise in the token price.
Plume Network
Official website: https://plumenetwork.xyz/
Introduction: Plume Network is a modular Layer 1 blockchain platform focused on the tokenization of real-world assets (RWA). It aims to transform traditional assets (such as real estate, art, equity, etc.) into digital assets through blockchain technology, lowering the investment threshold and improving asset liquidity. Plume provides a customizable framework that supports developers to build RWA-related decentralized applications (dApps) and integrate DeFi and traditional finance through its ecosystem. Plume Network emphasizes compliance and security, and is committed to providing solutions that bridge traditional finance and the crypto economy for institutional and retail investors.
Latest developments: On April 8, Apollo Funds invested in RWAfi on the chain, and the specific amount was not disclosed. On April 11, it announced a partnership with Matrixdock to integrate XAUm (gold token) into the RWAfi ecosystem.
