The Plumeberg News – DTCC Engages SEC, Private Credit Hits $14B & Hong Kong Accelerates Tokenization Push

The institutional embrace of Real World Asset (RWA) tokenization intensified dramatically this week, with pivotal developments in the United States and Asia signaling a new phase of mainstream adoption. High-level discussions between the U.S. financial system's core infrastructure, the DTCC, and the SEC have brought the topic of tokenization to the forefront of regulatory discourse. This move coincides with Hong Kong's aggressive push to become a global crypto hub through a new, comprehensive policy framework. Meanwhile, on-chain market data reveals the explosive growth of the sector, with private credit emerging as the dominant force in a $24 billion RWA market. These parallel movements—top-down regulatory engagement and bottom-up market validation—are creating a powerful feedback loop, accelerating the integration of tokenized assets into global finance.

1）Weekly RWA Highlights

Plume Integrates Agora's AUSD Stablecoin, Enhancing Liquidity for its RWAfi Ecosystem

RWA-focused blockchain Plume has integrated Agora’s U.S. dollar-backed stablecoin, AUSD, to enhance its native infrastructure and unlock new DeFi opportunities. This partnership brings an institutional-grade, fully-backed stablecoin into the Plume ecosystem, providing a trusted and transparent asset for settlement, liquidity, and yield generation. The move is crucial for bridging the gap between traditional finance and DeFi, ensuring a reliable foundation for the expanding universe of on-chain real-world assets.

DTCC Engages SEC Crypto Task Force on Tokenization, Signaling Major Push for US Adoption

The Depository Trust and Clearing Commission (DTCC), a cornerstone of the U.S. capital markets, has met with the SEC's Crypto Task Force to discuss the operational and regulatory mechanics of asset tokenization. The meeting signals a serious, high-level effort to bring tokenized assets into the mainstream U.S. financial system. Discussions reportedly covered the operational flow of tokenization services, technology standards, and the potential regulatory impact, marking a significant bullish step toward creating a clear path for digital assets in the world's largest economy.

Hong Kong Launches "LEAP" Policy Framework to Cement Status as Global Crypto and RWA Hub

The Hong Kong government has announced "Policy Statement 2.0," introducing the "LEAP" framework to accelerate its development as a premier digital asset hub. The framework focuses on four pillars: Legal streamlining, Expanding tokenized products, Advancing use cases, and People/partnership development. This proactive policy aims to boost the practical application of tokenization across various sectors and create a more inclusive, efficient, and lower-cost financial ecosystem.

Private Credit Becomes $14B Leader in Surging RWA Market, New RedStone Report Reveals

According to the H1 2025 "RWA in On-Chain Finance" report from RedStone and Gauntlet, the tokenized RWA market has surged to $24 billion, with private credit emerging as the largest sector. Accounting for $14 billion of the total, tokenized private credit has surpassed Treasuries as the leading RWA category. The report highlights the sector's massive 380% growth since 2022 and underscores how tokenization is bringing new levels of liquidity, speed, and accessibility to an asset class once reserved for only the largest institutions.

2）RWA Market Commentary

This week's developments reveal the two powerful currents propelling the RWA sector forward: a top-down push from regulators and financial incumbents, and a bottom-up surge of market-driven growth and innovation. The meeting between the DTCC and the SEC is profoundly significant; it's the financial system's core plumbing engaging directly with its chief regulator about how to officially incorporate tokenization. This, paired with Hong Kong's proactive "LEAP" framework, shows that the world's leading financial centers are no longer just observing—they are actively architecting the future of digital assets.

Simultaneously, the market is not waiting for permission to grow. The RedStone report provides hard data on the sector's explosive trajectory, with the rise of private credit to a $14 billion on-chain market being a standout validation. This isn't theoretical; it's a real shift in how capital is being deployed, driven by the tangible benefits of on-chain efficiency and accessibility. Foundational integrations, like Plume bringing in Agora's institutional-grade AUSD, are the essential building blocks that support this growth, providing the stable, reliable infrastructure needed for these new markets to function. This creates a positive feedback loop: verifiable market growth (like in private credit) forces regulatory engagement (like the DTCC/SEC talks), which in turn provides the clarity needed for even more robust market expansion.

3）Narrative Overview

RWA Index Ranking (39.07%)

4）Tokenized Assets Analytics

Global Market Overview:

Total RWA Onchain: $24.55B (+6.70% from 30d ago)
Total Asset Holders: 217,032 (+91.56% from 30d ago)
Total Stablecoin Value: $239.87B (+2.19% from 30d ago)

Conclusion

The narrative for Real-World Assets has reached a critical inflection point where high-level policy discussions and explosive market growth are happening in tandem. The engagement between the DTCC and the SEC signals an irreversible move toward integrating tokenization into the heart of U.S. finance, while Hong Kong's clear policy directives create a competitive and attractive global hub. These top-down efforts are powerfully validated by on-the-ground data, which shows a booming $24 billion market led by the undeniable product-market fit of tokenized private credit. The era of speculation is giving way to an era of implementation, where the world’s most important financial institutions and regulators are actively building the rails for a tokenized future.

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