The Weekly Bull-etin: No. 12

Welcome to Mu Digital's Weekly Bull-etin! We are bringing you the latest news and insights into real world assets ("RWA"), tokenization, stablecoins and yield products in the Web3 and Decentralized Finance ("DeFi") industry. Follow us to keep updated!

Mu-sings from the Founders

Gm fam,

We cannot understate the impact of Stripe’s acquisition of Bridge. Not only does it mark the largest acquisition of Web3 technology by a traditional payments company - it moves us closer to abstraction away from infrastructure discussions towards mass normie adoption.

Equally as important, it allows crypto users to keep their funds onchain. The next steps are product innovation in RWA and downstream DeFi integrations to give users easy and attractive investment alternatives to deploy their stablecoins, fully onchain.

You better believe the convergence of TradFi rails and Web3 has US regulators’ full attention now. Regulation has a way of trailing large corporate strategic activity in emerging sectors, including M&A deals such as this. Bullish for giving entrepreneurs like us more clarity on regulatory guardrails.

We are only getting started with large traditional players bridging into the Web3 world. Who’s next?

Have a great weekend

Patrick

What’s Mu?

1️⃣ Stripe acquires Bridge for US$1.1 billion, marking the largest Web 3 payments acquisition ever 🤝🍾

2️⃣ Visa looking to create stablecoin sandwiches 🥪

3️⃣ Thailand's oldest bank announces stablecoin remittance services 📢

4️⃣ UAE Approves Dirham-Pegged Stablecoin 🪙

5️⃣ Ethena Aims to Boost USDe with SOL Integration 🤝

Charts of the Week

Onchain Yield Alternatives

We have entered an environment where all crypto native onchain yields are outperforming US treasuries. Delta neutral yields (USDe) look attractive at 12% and onchain savings rate (AAVE and DAI) currently trade above TradFi risk free rates.

DeFi TVL Trends

DeFi TVL up 8% over the past week to US$107 billion. RWA continues to see inflows, with TVL of US$6.8bn (up 24% since the beginning of the year).

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