Introducing: TAC's Progress Bar

Every week, billions in new assets get tokenized, major institutions announce onchain strategies, and regulatory frameworks evolve. The pace is relentless making it near impossible to discern signal from noise.

You know us at the Tokenized Asset Coalition (TAC) for our deep-dive reports like the Spectrum of Asset Tokenization and the Practitioner's Guide to Stablecoins. We're not slowing down on those. But the market isn't waiting for quarterly analysis anymore. It's moving at warp speed and you need insights that match that pace.

Enter the Progress Bar.

Think of it as your weekly review of the financial system transformation happening around us. Every Friday, we'll deliver the week's essential KPIs, the stories that actually matter (not just the loudest ones), and the context you need to sound informed in Monday's meeting or to impress your friends at the Friday happy hour. You'll also be among the first to hear about TAC events, participate in industry research and other perks.

Prefer audio? Our weekly podcast TACo Time features Executive Director Johnny Reinsch and Charlie You (CTO at RWA.xyz) breaking down the week's developments with occasional alpha drops and guests building the future of finance.

We've also refreshed the TAC site and research hub because, frankly, navigating tokenization intel shouldn't feel like archaeology.

Ready to track the progress? Let's dive in.

Market KPIs (brought to you by RWA.xyz):

📈 Stablecoin market flat this week at $239.5B
🏆 Biggest stablecoin winner: USDC added $140M and Tron network added $1.6B.

📈 RWA market cap reached $24.57 billion, up 2.6% week-over-week
🏆 Biggest RWA winner: EUTBL added $50M
🏆 Biggest network winner: Aptos added $80M in RWA supply with massive growth from PACT

Onchain risk free rates: US treasuries are at 4.13% and Aave's supply rate for USDC is at 3.8%

Stories we're tracking this week:

The tokenization ecosystem hit several major milestones this week, led by Grove's massive $1B allocation from Sky Ecosystem to Janus Henderson's tokenized CLO strategy on Centrifuge, effectively doubling the platform's TVL overnight.

Meanwhile, institutional infrastructure continued expanding with Digital Asset's $135M raise for their privacy-focused Canton network (backed by heavy hitters like Citadel and BNP Paribas), and Mastercard's partnership with Fiserv to bring FIUSD stablecoin payments to 150M+ merchants.

The equity tokenization space saw growth with Republic launching rSpaceX mirror tokens on Solana, Kraken partnering to list the first U.S. crypto treasury stock as DFDVx, Nasdaq-listed Upexi tokenizing shares via Superstate's Opening Bell platform, and Dinari becoming the first US-approved broker-dealer for tokenized stocks.

Other notable moves included MatrixDock expanding into silver and platinum tokenization, Wyoming shortlisting Aptos for their WYST stablecoin pilot, SoFi's return to crypto with blockchain remittance services, and high-level SEC-NYSE meetings on integrating tokenized assets into traditional markets – all painting a picture of an ecosystem rapidly maturing across both institutional and retail channels.

TACo Time Weekly Review 6/26/2025: Comeback season

This week on TACo Time, Charlie and I were joined by our special guest, Mr. Python himself, Alex Macfarlane from Keyring, and we dove deep into the redemption arcs of some of our favorite platforms among other things. From $200M hack recoveries to billion-dollar comebacks, why your DeFi house needs a front door, and the best way to trade global instability definitely isn't what you think.

The episode is available below and we've summarized it for you here.

Stay ahead of the curve.

Be sure to follow us on X, LinkedIn, and Spotify for real-time updates, behind-the-scenes insights, and the occasional hot take that didn't make it into the Progress Bar or the TACo Time episode or summary.

Until next week,

The TAC Team

Johnny Reinsch, Executive Director
Tokenized Asset Coalition