More than 4 million addresses now hold stocks onchain, which puts them at an average of just under $800 each. The holder base is wide and the tickets are small, the opposite of tokenized treasuries, where $1M+ wallets hold ~93% of the capital.

The controls that brought RWA issuers to @StellarOrg also keep liquidators out. Likewise, on other chains, RWAs struggle with DeFi adoption. All that is fixable. Read our report to learn how.

DeFi has plenty of good infrastructure by now. But broader distribution is still lacking. Most new chains launch with strong tech and then spend years trying to buy attention. Dogecoin has the opposite problem. It’s one of the most recognized brands in the mainstream with a massive community, but its holders have mostly stayed out of DeFi because nothing was built for them. DogeOS changes that. It’s an app layer for Dogecoin built by the MyDoge team, so it launches with a real wallet and real users already in place. But once a chain has regular Joe reach, the infrastructure underneath it matters a lot more. Lending, perps and stablecoins all depend on price data. If that data fails, it doesn’t just hit a few DeFi degens. It hits people trying onchain finance for the first time, and they get burned easily. That’s why RedStone goes live on DogeOS from day one, across testnet and mainnet. It’s the first oracle integration in the Dogecoin ecosystem. Builders don’t have to wait months for feeds, and they get the same infrastructure behind BlackRock’s BUIDL or Apollo’s ACRED. A big part of the next wave of DeFi users will come from ecosystems that already have attention and finally get the rails to use it.

XRP Seoul throwback, with tokenized stocks flavour. Catch the RedStone team next week at @RippleSwell in NYC 🇺🇸

High yield can hide ugly risk. Need to coin that term. Credora.

Credora Insight: JPMorgan is about as safe a credit as you’ll find. Its tokenized deposit, JPMD, still scores almost 4x worse. Credora rated JPMD this week. It’s the first tokenized deposit it scored. Indicative A+, 0.088% PD. If you rate JPMorgan as a bank by itself, you get 0.023%. So roughly three quarters of the risk has nothing to do with JPMorgan. It comes from the token layer: a contract that’s days old with no published audit, key custody nobody has disclosed, and no public reconciliation showing that tokens match deposits. The fix is simple. Publish the audits. Say who holds the keys. Show tokens matching deposits. Each of those lowers the PD on its own. With all three, JPMD drops to 0.035%, below every tokenized dollar and Treasury fund we rate. From 7th of nine to 1st, without changing anything about the bank. One more point people mix up. A tokenized deposit is not a stablecoin with a bank logo on it. A stablecoin holder relies on a reserve pool. A JPMD holder has a claim on JPMorgan’s entire balance sheet. Those are different credit questions, and they need different math. TradFi is coming onchain fast. The bank side is predominantly solid. The token side is where the risk sits, and that's exactly what Credora showcases.

TokenizeThis Lisbon will be the main institutional side event around Stellar Meridian. There are no coincidences.

The scale and engagement of participants hit differently at XRP Seoul. Korea is a strategic region for RedStone's expansion. And it will keep growing that way.