Block & Bond Brief — July 23, 2026
Your daily edge on tokenized securities and real-world assets — July 23, 2026
📌 TOP STORY
Bank of New York Mellon is moving forward with plans to enable 24/7 settlement for U.S. Treasuries, signaling a major shift influenced by the growth of digital assets. The bank aims to launch tokenized Treasuries and pilot trading on its private blockchain by the end of 2026, with a goal to support continuous settlement for both traditional and tokenized Treasuries by 2027. This development highlights the increasing integration of digital asset markets and traditional finance infrastructure. (Bloomberg)
🏦 COMPANY MOVES
- Payward (Kraken Parent) — Has partnered with GTN to expand its xStocks tokenized equities framework globally, starting with equities in Hong Kong and later expanding to UK, European, and South Korean markets. This partnership will enable institutional access to tokenized stocks beyond the U.S., aiming for broader adoption. (Blockhead)
- Blockchain.com & OpenWorld — Announced a strategic partnership where Blockchain.com has invested in OpenWorld, aiming to integrate trading, liquidity, and distribution services for tokenized real-world assets to meet growing institutional demand. (ChannelLife)
⚖️ REGULATORY WATCH
The U.S. Senate is preparing to vote on the CLARITY Act, a significant legislative effort to clarify regulatory jurisdiction between the SEC and CFTC for digital assets. The bill aims to give the CFTC exclusive control over digital commodity spot markets while keeping securities under the SEC. Additionally, SEC Commissioner Hester Peirce warned that certain DeFi vaults and on-chain lending strategies may fall under securities laws, emphasizing ongoing regulatory scrutiny over tokenized financial products. Meanwhile, regulatory frameworks in the EU under MiCA are now fully in force, requiring crypto service providers to comply with licensing requirements. (BingX, CoinDesk, MinFin)
📊 MARKET SNAPSHOT
| Protocol | AUM | Chain(s) |
|---|---|---|
| BlackRock BUIDL | $3.34B | Ethereum/Aptos |
| Circle USYC | $2.96B | Binance/Ethereum |
| Tether Gold | $2.93B | Ethereum/Monad |
| Ondo Yield Assets | $2.55B | Ethereum/Stellar |
| Maple | $2.37B | Ethereum/Solana |
| Paxos Gold | $1.84B | Ethereum |
| Centrifuge Protocol | $1.63B | Ethereum/Avalanche |
| Spiko | $1.23B | Stellar/Arbitrum |
| Ondo Global Markets | $969M | Ethereum/Binance |
| Blockchain Capital | $968M | zkSync Era |
Data via DeFiLlama · 7/23/2026, 5:00:14 AM ET
🔍 WORTH WATCHING
Tokenized equities continue to be a rapidly expanding asset category, with institutional interest growing beyond traditional bonds and Treasuries into public equities and ETFs. Expansion of tokenized stocks in international markets and partnerships, such as Payward's collaboration with GTN for the xStocks framework, reflect a maturation of token infrastructure and broader market adoption. Regulatory clarity efforts like the CLARITY Act remain critical for continued industry progress.
📚 SOURCES
- https://www.bloomberg.com/news/articles/2026-07-22/bny-pushes-toward-24-7-treasury-settlement-for-digital-assets
- https://www.blockhead.co/2026/07/23/kraken-parent-payward-partners-with-gtn-to-take-xstocks-tokenized-stocks-global/
- https://channellife.com.au/story/openworld-blockchain-com-partner-on-tokenisation-push
- https://bingx.com/en/flash-news/post/us-senate-to-vote-next-week-on-clarity-act-to-split-crypto-oversight-between-sec-and-cftc
- https://www.coindesk.com/policy/2026/07/22/sec-s-peirce-warns-some-defi-vaults-onchain-lending-may-fall-under-securities-laws
- https://minfin.com.ua/crypto/articles/polzuetes-kriptoaktivami-v-es-chto-izmenilos-posle-1-iyulya/
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