Quick overview

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Thirty-five of the top financial and technology companies in the world, such as BlackRock, JPMorgan, and Fidelity, have introduced new services and products based on the Ethereum blockchain in recent months.

These actions, which are described in a social media thread from the official Ethereum account, indicate that mainstream institutions are tokenizing real-world assets (RWAs) at a rapid pace.

The trend also emphasizes Ethereum’s growing function as a fundamental settlement layer for international finance, extending beyond speculative cryptocurrency trading into institutional payments, bonds, and stocks.

The Ethereum X account reported that financial institutions were adopting it more quickly, citing the introduction of tokenized stocks, money market funds, stablecoins, and bank deposits.

For instance, Ondo Finance introduced a platform with over 100 tokenized US stocks, and Kraken introduced xStocks on the network, enabling qualified clients to transfer fully collateralized US equities on-chain.’
Amundi launched a tokenized share class of its Ethereum mainnet-based euro money market fund in Europe. Banks have also increased their presence.

An Ethereum Layer 2, after transferring its JPM Coin deposit token from an internal blockchain to Base,  JPMorgan used $100 million of its own funds to launch its first tokenized money market fund on Ethereum.

Additionally, Societe Generale FORGE used Ethereum-based DeFi protocols to implement lending and trading products denominated in euros and dollars.