2024

Solana

World

RWAs (Real World Assets) will be the subject of a hearing in court next week as the House Financial Services Digital Assets Subcommittee pushes toward delivering ‘efficient markets.’ 
<h2 id="strong-congress-to-probe-real-world-assets-strong">Congress To Probe Real World Assets </h2> 
The House Financial Services Digital Assets Subcommittee, which is part of the United States Congress, will discuss the <a href="https://coingape.com/glossary/tokenization/" target="_blank" rel="noopener">tokenization</a> of RWAs in a hearing next Wednesday, June 5, according to an official announcement by Committee chair, Patrick McHenry. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">NEW: The House Financial Services Digital Assets Subcommittee will discuss tokenizing real world assets in a hearing next Wednesday. 
 Wonder if <a href="https://twitter.com/carlosdomingo?ref_src=twsrc%5Etfw">@carlosdomingo</a> or anyone from <a href="https://twitter.com/BlackRock?ref_src=twsrc%5Etfw">@BlackRock</a> will be asked to testify? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f642.png" alt="🙂" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/GFDltp0URJ">pic.twitter.com/GFDltp0URJ</a> 
 — Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1795916161814610332?ref_src=twsrc%5Etfw">May 29, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Real World Assets are established commodities from traditional finance (TradFi), tokenized, and brought over into the DeFi space using blockchain technology. A recent RWA <a rel="nofollow" href="https://www.coingecko.com/research/publications/rwa-report-2024" target="_blank">report</a> by CoinGecko highlighted the following, citing the rise of RWAs. 
<ul> 
 <li>USD-Pegged Assets Dominate Fiat-backed Stablecoins, Accounting For 99% of All Stablecoins</li> 
 <li>Commodity-Backed Tokens Hits $1.1B in Market Capitalization, Gold Remains Most Popular Commodity</li> 
 <li>Tokenized Treasury Products Have Grown 782% in 2023, Worth Over $931M Now</li> 
</ul> 
The hearing, titled ‘Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets’ is part of a greater agenda by the subcommittee to ‘facilitate efficient markets’. 
The subcommittee focuses on issues relating to digital assets, cryptocurrencies, blockchain technology, and financial innovation. With this mandate, it holds hearings, performs investigations, and proposes legislation as it pertains these areas of the financial industry. 
The main goal of the House Financial Services Digital Assets Subcommittee is to provide oversight and regulation that will promote a safe and efficient environment for digital asset markets. 
<h2 id="strong-rwas-gain-attention-as-social-volume-skyrockets-strong">RWAs Gain Attention As Social Volume Skyrockets</h2> 
The RWA narrative in 2024 was invigorated by BlackRock’s&nbsp;March declaration of plans to launch its <a href="https://coingape.com/blackrock-bitcoin-etf-grabs-spotlight-with-290m-inflow-outshines-rivals/" target="_blank" rel="noopener">BlackRock</a> USD Institutional Digital Liquidity Fund (BUIDL) on&nbsp;Ethereum. This sparked conversations around RWA tokens, with speculation that they could mimic the meme coin madness that sent the Book of Meme (BOME) past the $1 billion market capitalization threshold. 
Analytics platform Santiment <a rel="nofollow" href="https://twitter.com/santimentfeed/status/1752230058062975438?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1752230058062975438%7Ctwgr%5Ee7cc05f99271d9bacb8ca9876e7488d8d53600c1%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.fxstreet.com%2Fcryptocurrencies%2Fnews%2Fai-rwa-two-token-classes-to-watch-next-after-meme-coin-and-staking-market-drive-rally-202401302056" target="_blank">reported</a> a surge in social volume for RWAs, citing growing crowd interest, particularly toward the close of 2023. With the oncoming hearing, the Real World Assets narrative could make a comeback. 
Earlier in the month, Santiment also <a rel="nofollow" href="https://twitter.com/RWAwatchlist_/status/1787876224015995355" target="_blank">highlighted</a> increasing attention for AI and RWAs, putting Polymesh (POLYX), XinFin Network (XDC), Mantra DAO (OM), Ondo Finance (ONDO) and Opulous (OPUL) on its watchlist. 
RWAs enable diversification within a crypto portfolio as they provide exposure to traditional asset classes like real estate, commodities, or stocks. This helps minimize overall portfolio risk while at the same time increasing stability. 
As Real World Assets take the spotlight in the digital asset industry, crypto firms, global banking, and asset management titans are working to bring traditional financial instruments such as bonds, funds, or credit to blockchains. 
In a space where narrative investing is a factor in the market, traders could buy the rumors ahead of the Wednesday hearing. 
Also Read: <a href="https://coingape.com/solana-congestion-issues-poked-as-cme-puts-out-sol-etf-hopes/" target="_blank" rel="noopener">Solana Congestion Issues Poked As CME Puts Out SOL ETF Hopes</a> 
The post <a href="https://coingape.com/rwas-get-a-date-in-court-next-week-amid-push-for-efficient-markets/">RWAs Get A Date In Court Next Week Amid Push For ‘Efficient Markets’</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

RWAs Get A Date In Court Next Week Amid Push For ‘Efficient Markets’

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