The Weekly Bull-etin: No. 13

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 Editor

Gm,

This week, the US Treasury’s concerns about T-bills as asset collateral underpinning the growing US$170bn stablecoin market was front and center. Discussions regarding unwinding T-bills as collateral and replacing with federal-backed CBDCs is sure to be a hotly debated topic. The mere fact that stablecoins have entered the political and regulatory discourse at the highest levels demonstrates that the RWA movement cannot be ignored.

On the flip side, we’re seeing continual adoption from TradFi giants. BlackRock is pushing its BUIDL token to shake up the crypto derivatives space. Meanwhile, L&G and BBVA are have launched tokenization projects, aiming to bring more efficiency and accessibility to traditional finance.

The bridge between TradFi and Web3 is being built faster than ever. With regulatory scrutiny ramping up and innovative financial products emerging, it’s an exhilarating time to be part of this space. Who’s next to join the revolution?

Until next time

LA Yepez

What’s Mu?

1️⃣ US Treasury Says Stablecoins Should Be Replaced by a CBDC 🤔

2️⃣ Japanese government evaluating stablecoin regulation alternatives 🔎

3️⃣ Joint PoC effort across Singapore, Malaysia, Australia and South Korea to utilize crypto rails for cross border payments 🤝 

4️⃣ BlackRock Seeks Bigger Foothold in Crypto Derivatives Market 🚀

5️⃣ U.K. Pension Giant L&G Looks to Enter Crypto's Tokenization Space 🏦

6️⃣ Tether CEO breaks down reserves backing USDT stablecoin 💼

7️⃣ BBVA Asset Management launches a ‘tokenized’ fund through the CNMV sandbox 🌐

Charts of the Week

Onchain Yield Alternatives

Delta neutral yields (USDe) continue to increase (13% this week), tracking momentum in the broader crypto markets. Treasuries continue to yield rates less than other onchain savings alternatives (AAVE, DAI).

DeFi TVL Trends

DeFi TVL flat over the past week at US$107 billion. RWA remains steady at TVL of US$5.0bn, however at 5% of overall DeFi TVL still has tremendous untapped potential.

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