RWA

Bitwise Asset Management launched its first curated onchain vault on Morpho, aiming for up to 6% yield on USDC by deploying into over-collateralized lending markets while keeping user funds non-custodial. The firm oversees strategy and real-time risk and may add other stablecoins and DeFi approaches. Kraken also unveiled a vault-based "DeFi Earn" targeting up to 8% yields.

On 12 December 2025, JPMorgan disclosed it had completed a short‑term commercial paper issuance for Galaxy Digital on the Solana network. The deal was settled entirely in USDC with partners including Coinbase and Franklin Templeton, marking a live test of public blockchains for regulated market infrastructure.

On 12 December 2025, Bhutan's Gelephu Mindfulness City announced TER, a sovereign digital token backed by the country's gold reserves and issued via DK Bank on the Solana blockchain. Matrixdock is responsible for the tokenization of the underlying gold, and the initiative forms part of Bhutan's wider push into blockchain, which also includes Bitcoin mining, a state-managed crypto reserve, and crypto payment options for tourists.

NHL grants Kalshi and Polymarket trademark licenses in first such deal by major US sports league