The weekly roundup highlights Wall Street banks building a tokenized deposit network and Alpaca completing a $135 million fundraising.
Real-world asset, or RWA, tokenization continued to expand this week, with total on-chain market capitalization rising to $34.9 billion and the number of asset holders surging to a record 1.077 million. The weekly update also pointed to two notable developments: Wall Street banks are joining forces to build a tokenized deposit network, and Alpaca has completed a $135 million financing round. The figures suggest continued momentum for tokenized representations of traditional financial assets, a segment closely watched as banks and crypto-native firms test blockchain-based settlement and issuance models.