Tuesday, February 24, 2026 · U.S. Tokenization Intelligence
AMERICA TOKENIZATION
The Vanderbilt Terminal for U.S. Asset Tokenization
INDEPENDENT INTELLIGENCE FOR THE AMERICAN TOKENIZATION ECONOMY
US Tokenized RWA Market $36B+ +380% since 2022
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BUIDL Fund AUM $2.5B BlackRock · Largest tokenized fund
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SEC-Registered Platforms 12+ ATS + Transfer Agent licenses
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Tokenized US Treasuries $9B+ +256% YoY
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US VC into Tokenization $34B 2025 total · doubled YoY
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Broadridge DLR Daily Volume $384B +490% YoY · Dec 2025
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Securitize AUM $4B+ +841% revenue growth 2025
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Tokenized Private Credit $19B+ Figure Technologies leads at $15B
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US Tokenized RWA Market $36B+ +380% since 2022
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BUIDL Fund AUM $2.5B BlackRock · Largest tokenized fund
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SEC-Registered Platforms 12+ ATS + Transfer Agent licenses
·
Tokenized US Treasuries $9B+ +256% YoY
·
US VC into Tokenization $34B 2025 total · doubled YoY
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Broadridge DLR Daily Volume $384B +490% YoY · Dec 2025
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Securitize AUM $4B+ +841% revenue growth 2025
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Tokenized Private Credit $19B+ Figure Technologies leads at $15B
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BlackRock's BUIDL Fund: How the World's Largest Asset Manager Is Rewriting the Rules of Tokenized Finance

BlackRock's BUIDL tokenized money market fund surpassed $2.5 billion AUM in early 2026, making it the world's largest on-chain fund and signaling Wall Street's definitive commitment to tokenized assets.

Updated February 10, 2026 16 min read

SEC and Tokenization in 2026: The Complete Regulatory Landscape for Digital Securities in America

From the Howey Test to SAB 121's reversal, from Reg D token offerings to ATS registration — the SEC's evolving stance on tokenized securities defines where $16 trillion in institutional capital will flow.

Real Estate Tokenization in the United States: The $3.2 Trillion Opportunity the Market Is Underpricing

US commercial real estate tokenization is accelerating: from $500M in tokenized HELOCs via Figure Technologies to fractional ownership of trophy assets. The barriers are falling faster than institutional capital is moving.

From JPMorgan to Goldman Sachs: How Wall Street's Tokenization Buildout Will Capture $16 Trillion

JPMorgan's Kinexys processed $1 trillion in tokenized transactions. Goldman Sachs issued bonds on GS DAP. Broadridge settled $384 billion daily via DLR. Wall Street's tokenization infrastructure is not a pilot — it is production.

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Proprietary analysis across 7 lenses — investment intelligence, regulatory risk, and geopolitical context that Wall Street won't publish.

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Tokenized Carbon Credits: Using Blockchain to Fix the Voluntary Carbon Market's Integrity Problem

The $2 billion voluntary carbon market has a credibility crisis: double-counting, phantom credits, and verification failures have undermined confidence. Tokenized carbon credits on Toucan Protocol, KlimaDAO, and Moss.Earth offer blockchain-verified environmental assets.

Jan 29, 2026

New York's BitLicense: America's Most Demanding Crypto Regulatory Framework

New York's BitLicense (2015) remains the most stringent crypto business license in the United States. It covers virtual currency businesses operating in New York, requires extensive compliance infrastructure, and has been obtained by fewer than 50 companies in a decade.

Jan 28, 2026

Goldman Sachs GS DAP: Building a Private Blockchain for Institutional Digital Asset Markets

Goldman Sachs' Digital Asset Platform (GS DAP) has tokenized $700M+ in digital bonds for the European Investment Bank and others. Goldman's approach uses a permissioned blockchain to modernize capital markets infrastructure while maintaining regulatory control.

Jan 27, 2026

Broadridge DLR: How $384 Billion Per Day of Repo Settlements Are Moving to Blockchain

Broadridge's Distributed Ledger Repo (DLR) platform settles $384 billion in daily repo transactions for institutions including JPMorgan, Goldman Sachs, and Citi. It is the largest institutional blockchain application by transaction volume in the United States.

Jan 26, 2026

CFTC vs SEC: The Jurisdictional Battle Over Crypto and Tokenized Assets

The CFTC claims Bitcoin and Ether are commodities. The SEC claims most tokens are securities. FIT21 attempts to clarify jurisdiction with a 'decentralization test.' This analysis maps the legal landscape and what it means for tokenization practitioners.

Jan 25, 2026

Qualified Custodian Requirements for Tokenized Assets: What Investment Advisers Need to Know

SEC-registered investment advisers must maintain client assets with a 'Qualified Custodian' under Rule 206(4)-2. The 2023 Custody Rule amendments proposed to extend this requirement to crypto assets. This analysis maps the qualified custodian landscape for tokenized assets.

Jan 24, 2026

Tokenized Securities

SEC-registered platforms, ATS licenses, and the infrastructure transforming how institutional capital moves.

Tokenized Real Estate

The $3.2 trillion opportunity as fractional ownership transforms commercial real estate, HELOCs, and REITs.

Regulatory Intelligence

SEC, CFTC, OCC, and 50-state frameworks dissected. Every rule that applies to tokenized assets in America.

Investment Intelligence

BlackRock, KKR, Apollo, Franklin Templeton — tracking every institutional allocation to tokenized assets.


America vs Europe vs Singapore: Who's Winning the Tokenization Race?

Three regulatory regimes, three market approaches, one winner — the US leads in volume ($18B+ in tokenized assets), Singapore leads in regulatory clarity (MAS sandbox), the EU leads in legal framework (MiCA). But BlackRock chose Ethereum.

Feb 12, 2026

Securitize vs tZERO vs INX vs Vertalo: US Platform Showdown

Four SEC-registered platforms competing for the US digital securities market. Securitize wins on AUM ($4B+), tZERO on trading volume, INX on regulatory breadth. The platform you choose determines your liquidity options.

Feb 10, 2026

Ethereum vs Polygon vs Avalanche vs Stellar: Which Chain for US Institutional Tokenization?

BlackRock chose Ethereum for BUIDL. Franklin Templeton chose Stellar and Polygon for FOBXX. JPMorgan built its own private chain. Provenance Blockchain purpose-built for financial assets. Each choice carries different tradeoffs.

Feb 8, 2026