This week’s Crypto Biz explores the rise of tokenization markets, PayPal’s stablecoin, SushiSwap’s move to a “Labs model,” and the U.S. SEC’s decision to defer Bitcoin ETF options.
United States Treasurys tokenized on public blockchains surpassed $1 billion as traditional financial firms continued to load securities on-chain amid a prolonged period of elevated interest rates.
Data compiled by 21.co and Dune Analytics shows that tokenized government securities reached the $1 billion mark in assets on March 28, distributed across 17 products. A majority of the assets are based on the Ethereum, Polygon and Stellar networks.
“The growth in tokenized treasuries on public blockchains like Stellar is a result of more asset issuers recognizing blockchain technology makes good business sense,” Paul Wong, director of product, CBDCs and institutions at the Stellar Foundation, told Cointelegraph.
