Weekly DeFi Index

This week, the market capitalisation, volume, and volatility indices dropped by -2.81%, -39.86%, and -43.13%, respectively.

Chart of the Week

World Liberty Financial, a decentralised finance platform backed by the Trump family, plans to tokenise real estate assets using blockchain technology. The initiative aims to offer micro-shares in luxury properties, enabling retail investors to participate in real estate investment through fractional ownership.

According to the report from Deloitte, the tokenised real estate value will reach $4 trillion by 2035, increasing from less than $0.3 trillion in 2024, with a compound annual growth rate (CAGR) of 27%. The tokenised ownership of loans and securitisations is expected to represent the largest share.

News Highlights

• BlackRock is expanding into the stablecoin market with a redesigned money market fund, the BlackRock Select Treasury Based Liquidity Fund (BSTBL), compliant with the US GENIUS Act. This fund aims to provide a secure reserve vehicle for stablecoin issuers, aligning with US regulatory requirements for stablecoin reserves. The redesigned fund invests entirely in short-term US Treasury securities and overnight repurchase agreements.
• Uniswap integrated Solana support into its web app using Jupiter’s Ultra API, allowing users to trade Solana-based tokens.
• On-chain asset manager Maple Finance partnered with DeFi lending protocol Aave, to bring institutional-grade assets into Aave’s lending markets. The initial integration includes syrupUSDT on Aave’s Plasma instance and syrupUSDC on the core market, aiming to stabilise borrow demand, improve capital efficiency, and enhance liquidity.
• Blockchain analytics firm Nansen and Solana’s liquid staking protocol Sanctum partnered to launch nxSOL, a liquid staking token on Solana, allowing users to earn staking rewards while maintaining liquidity. This move aims to enhance the usability and flexibility of staking on Solana.
• Solana DEX Meteora is preparing for its token launch with a pre-market valuation between $750 million and $1 billion.
• Paxos, the issuer of PayPal's PYUSD stablecoin, accidentally minted $300 trillion worth of PYUSD on the Ethereum blockchain before burning it shortly after, causing confusion among crypto users. The incident involved an internal technical error, with no security breach reported, and customer funds remain safe.
• Three of Japan's largest banks — Mitsubishi UFJ Financial Group (MUFG), Bank Sumitomo Mitsui Banking Corp. (SMBC), and Mizuho Bank — are planning to jointly issue a yen-pegged stablecoin using MUFG’s Progmat platform to modernise corporate payments and reduce transaction costs. The project aims to standardise the token for interoperability across companies and is expected to launch by the end of year.
• Sony Bank, a Japanese financial institution majority-owned by Sony, filed for a national trust bank charter with the Office of the Comptroller of the Currency (OCC) to issue and manage stablecoins in the US market. The OCC oversees national banks and cryptocurrency custody services, and similar approvals have been granted to other institutions like US Bank and Bridge.
• France’s Lightning Stock Exchange (Lise) is set to launch Europe’s first tokenised IPO by early 2026, aiming to create a fully tokenised equity exchange for small- and medium-sized enterprises (SMEs).
• Ant Group’s blockchain division Ant Digital launched Jovay Network, an Ethereum-based L2 blockchain that aims to integrate RWAs on-chain.

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