RWAs Get A Date In Court Next Week Amid Push For ‘Efficient Markets’

Highlights

US House Financial Services Digital Assets Subcommittee will have a hearing centered on RWAs next week.
Subcommittee will discuss tokenizing Real World Assets.
RWAS help minimize overall portfolio risk while at the same time increasing stability.

RWAs (Real World Assets) will be the subject of a hearing in court next week as the House Financial Services Digital Assets Subcommittee pushes toward delivering ‘efficient markets.’

Congress To Probe Real World Assets

The House Financial Services Digital Assets Subcommittee, which is part of the United States Congress, will discuss the tokenization of RWAs in a hearing next Wednesday, June 5, according to an official announcement by Committee chair, Patrick McHenry.

🚨NEW: The House Financial Services Digital Assets Subcommittee will discuss tokenizing real world assets in a hearing next Wednesday.

Wonder if @carlosdomingo or anyone from @BlackRock will be asked to testify? 🙂 pic.twitter.com/GFDltp0URJ

— Eleanor Terrett (@EleanorTerrett) May 29, 2024

Real World Assets are established commodities from traditional finance (TradFi), tokenized, and brought over into the DeFi space using blockchain technology. A recent RWA report by CoinGecko highlighted the following, citing the rise of RWAs.

USD-Pegged Assets Dominate Fiat-backed Stablecoins, Accounting For 99% of All Stablecoins
Commodity-Backed Tokens Hits $1.1B in Market Capitalization, Gold Remains Most Popular Commodity
Tokenized Treasury Products Have Grown 782% in 2023, Worth Over $931M Now

The hearing, titled ‘Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets’ is part of a greater agenda by the subcommittee to ‘facilitate efficient markets’.

The subcommittee focuses on issues relating to digital assets, cryptocurrencies, blockchain technology, and financial innovation. With this mandate, it holds hearings, performs investigations, and proposes legislation as it pertains these areas of the financial industry.

The main goal of the House Financial Services Digital Assets Subcommittee is to provide oversight and regulation that will promote a safe and efficient environment for digital asset markets.

RWAs Gain Attention As Social Volume Skyrockets

The RWA narrative in 2024 was invigorated by BlackRock’s March declaration of plans to launch its BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum. This sparked conversations around RWA tokens, with speculation that they could mimic the meme coin madness that sent the Book of Meme (BOME) past the $1 billion market capitalization threshold.

Analytics platform Santiment reported a surge in social volume for RWAs, citing growing crowd interest, particularly toward the close of 2023. With the oncoming hearing, the Real World Assets narrative could make a comeback.

Earlier in the month, Santiment also highlighted increasing attention for AI and RWAs, putting Polymesh (POLYX), XinFin Network (XDC), Mantra DAO (OM), Ondo Finance (ONDO) and Opulous (OPUL) on its watchlist.

RWAs enable diversification within a crypto portfolio as they provide exposure to traditional asset classes like real estate, commodities, or stocks. This helps minimize overall portfolio risk while at the same time increasing stability.

As Real World Assets take the spotlight in the digital asset industry, crypto firms, global banking, and asset management titans are working to bring traditional financial instruments such as bonds, funds, or credit to blockchains.

In a space where narrative investing is a factor in the market, traders could buy the rumors ahead of the Wednesday hearing.

Also Read: Solana Congestion Issues Poked As CME Puts Out SOL ETF Hopes

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Lockridge Okoth

Lockridge transitioned from a career in Molecular and Cell Biology to pursue his interest in the chaos of the crypto and financial markets. He is a cryptocurrency journalist and market analyst with over 3,000 articles to his name. Conducting on-chain analysis, breaking down market-triggering events, and publishing Op-Ed pieces, he finds gratification in diving deep into the crypto space, earning himself significant knowledge and experience. Aside from ATZCrypto, Blockster and InsideBitcoins, Lockridge’s works can also be found on FXStreet.com. Outside work, you can find Lockridge watching movies or horse riding.

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