RWA Weekly: Mainland enterprises' consulting volume for RWA business in Hong Kong plummets by over 90%; US SEC permits DTCC to custody on blockchain and approves tokenized stocks and other RWA assetsHighlights of this Issue
The weekly coverage period for this issue spans from December 5, 2025, to December 11, 2025.
This week's RWA market data shows that the on-chain total market capitalization has nearly stagnated, but the number of holders has steadily increased, reflecting the market's entry into a deeper user penetration stage; the total market value of stablecoins has surpassed $300 billion, but the monthly transfer volume and active addresses have significantly declined, indicating a dual pressure of “liquidity contraction and user activity decline.”
On the regulatory front, some countries have made substantive progress in the issuance of tokenized assets. BRICS countries and Bhutan have launched digital currencies backed by gold, and the Crown stablecoin project in Brazil and the Ezeebit payment infrastructure in Africa have secured funding successively. YouTube has introduced a stablecoin payout option for U.S. creators.
A stark contrast emerges
PANews·51m ago