Hong Kong’s 2026–27 Budget says the first fiat-referenced stablecoin issuer licences will be issued in March 2026, and a bill will be introduced this year to create licensing regimes for digital asset dealing and custodian service providers.
The UK Financial Conduct Authority has selected Monee Financial Technologies, ReStabilise, Revolut and VVTX for a stablecoin cohort in its Regulatory Sandbox, focusing mainly on issuance and testing use cases including payments, wholesale settlement and crypto trading.
Digital Asset said the Canton Industry Working Group completed a new round of on-chain repo tests, including a cross-border intraday repo using tokenized UK gilts and non-GBP tokenized deposits, with participation from LSEG, Euroclear, DTCC and others.
Crypto.com said it received conditional approval from the OCC for a US national trust bank charter. Reuters reported the charter would support federally regulated custody and trade settlement, but not deposit-taking or lending.
The SEC issued an exemptive order allowing Covered Dealers to buy and sell shares of WisdomTree’s tokenized government money market fund intraday at a fixed $1.00, rather than the next-calculated NAV, under specified conditions.
China’s central bank and seven agencies issued “Document No. 42” on Feb. 6, reaffirming the domestic crypto-business ban and defining RWA tokenization, while directing strict supervision and approvals/filings for certain offshore tokenized structures tied to onshore rights.
Tokenisation is appearing in Singapore fund structures and distribution rails, but distributor research cited by Finance Magnates shows product innovation ranks below performance and scale. Market flows in 2025 also favoured ETFs, including REIT ETFs.
DTCC is laying groundwork for a tokenisation platform after SEC staff issued a Dec. 11, 2025 no-action letter to DTC for a preliminary tokenised entitlement service covering select liquid DTC-custodied assets, with operational constraints and off-DTC DvP.
Figure Technology Solutions launched FGRD on its On-chain Public Equity Network (OPEN), positioning it as an SEC-registered, blockchain-registered equity. Issuance, trading, and ownership transfers are recorded on-chain, with ATS trading, optional qualified custody, and T+0 settlement.
World Liberty Financial said it will tokenize loan revenue interests linked to Trump International Hotel & Resort, Maldives, partnering with DarGlobal and Securitize. The offering is structured under Reg D 506(c) and Reg S with transfer restrictions.
NYSE President Lynn Martin said the exchange felt a responsibility to engage with tokenization, as ICE develops a platform for tokenized securities trading and on-chain settlement under a new NYSE venue, subject to regulatory approvals.
Bank of Greece and SWIAT ran Project Sovereign, a sandbox simulation of a sovereign digital bond from issuance to redemption. Greek and German banks acted as investors, while DvP used separate asset and payment blockchains with simulated euros
Valereum Plc said it signed an MoU with Integra Foundation to explore tokenised real estate issuance via its subsidiary VLRM Markets, using Integra’s blockchain infrastructure, with distribution and secondary trading also in scope.
BVNK said it secured a Crypto-Asset Service Provider licence from Malta’s MFSA under MiCA. The firm said the authorisation supports MiCA-regulated crypto-asset services and passporting across the EEA, alongside euro payments and SEPA access via CENTROlink.
Morpho Association said it signed a cooperation agreement with certain Apollo affiliates to support onchain lending markets, alongside a framework for Apollo or its affiliates to acquire up to 90 million MORPHO tokens over 48 months, subject to restrictions.
Saudi Arabia’s Real Estate General Authority (REGA) has launched the second edition of its Regulatory Sandbox under the Saudi PropTech Hub, including a fractional ownership pathway under a real estate tokenization framework and a 6–24 month testing phase.
