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Banks risk $230 billion as tokenized money hits 4% by 2030
Edgen Crypto·Sep 24 2026, 10:05Share to
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[1] The mainstreaming of stablecoins and tokenized deposits could cost banks $230 billion in payment-related revenue (https://www.globenewswire.com/news-release/20 ...)[2] Banks risk losing $230 billion in payments revenue as stablecoins and tokenized deposits go mainstream (https://ca.finance.yahoo.com/news/banks-risk- ...)[3] Digital money to make up 4% of global payments by 2030: Report (https://www.msn.com/en-in/news/other/digital- ...)[4] Crypto Long & Short: Inside the chain settling $150 billion of stablecoins a week (https://www.coindesk.com/coindesk-indices/202 ...)
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Sep 23 2026, 16:17
Solana RWA value hits record $4.6 billion as holders near 686,000
Solana's tokenized real-world asset value reached an all-time high of $4.6 billion, up 11.47% in 30 days, as the number of wallets holding those assets nearly doubled to 685,850, according to on-chain data dated Sept. 23. Distributed asset value on the network — the portion backed by issued tokens rather than represented value — stood at $4.49 billion, the data shows. The holder count is the more unusual figure: a near-doubling in a single month implies most of the participation arrived in September rather than accumulating gradually through the year. "Holder growth outpacing value growth is the signal worth watching," Jason Wu, an on-chain analyst who tracks Solana DeFi flows, said. "A record valuation can be manufactured by a handful of large issuers. Six hundred thousand new wallets cannot." Circle accounts for the largest share of RWA value on Solana at $7.5 billion, ahead of Tether at $3.8 billion and BitGo at $1.6 billion. The ranking matters because it identifies what the record actually consists of: Circle's total reflects USDC supply circulating on the network, not a wave of novel tokenized instruments. Solana's RWA milestone is, in large part, a stablecoin story wearing a tokenization label. That distinction cuts both ways. Stablecoin supply is sticky — it moves when traders need settlement rails and stays while venues remain liquid — but it is also reflexive. A sustained drop in Solana DeFi activity would drain USDC from the chain and pull the RWA headline down with it, without any change in the underlying tokenization projects. ## Circle's $7.5 billion share is mostly USDC The concentration also exposes how thin the non-stablecoin layer remains. Strip out Circle, Tether and BitGo and the remaining tokenized assets on Solana — treasuries, commodities, private credit, equities — account for a small fraction of the $4.49 billion in distributed value. Tokenized gold, for instance, has been expanding across chains: Circle's Arc network added Matrixdock's XAUm as its first tokenized gold product, with each token backed by one ounce held by Brink's or Malca-Amit and traceable to a numbered bar. Solana has yet to attract comparable volumes in that category. The infrastructure case for Solana holding this share is straightforward. The network's Alpenglow upgrade moved to public testnet, targeting 150-millisecond finality against the current 12.8 seconds, running through Agave 4.3. Faster finality lowers the settlement risk that issuers of tokenized treasuries and money-market products price into their operations, which is the argument Solana's developers are making to institutions weighing chain selection against Ethereum and its L2s. Regulatory direction is moving the same way. CFTC Chair Michael Selig told regulators to prepare U.S. markets for mass tokenization, recapping agency moves on 24/7 trading and stablecoin collateral. Arch Lending co-founder Himanshu Sahay said the firm will lend against tokenized equities "pretty soon," as tokenized-stock value climbed to $3.15 billion from $630 million. Those are sector-level tailwinds, not Solana-specific ones — Ethereum, Base and other venues are competing for the same issuance. ## What would break the trend The record reading carries its own risk. A $4.6 billion high set largely by stablecoin supply is vulnerable to the same forces that built it: if Solana DeFi volumes cool, USDC migrates, and the RWA figure retreats without any project failing. The holder count is the better durability test — 685,850 wallets is a distribution metric that does not unwind in a single session the way supply does. Watch the next 30-day holder print. If it holds above 600,000 while value stays near $4.5 billion, the September surge was adoption. If holders flatten while value holds, the record was Circle's balance sheet, not Solana's. This article is for informational purposes only and does not constitute investment advice.
Sep 23 2026, 15:39
CADD stablecoin adds Solana as Canada's first regulated CAD token scales to 4 chains
Solana became the fourth network to carry CADD on Sept. 23, 2026, after Tetra Digital Group added support for the token it launched on Ethereum, Base and Tempo on May 4. The stablecoin is issued through Tetra Trust Company and CAD Digital Inc., pegged 1:1 to Canadian dollars held in segregated trust reserves that are independently audited, and approved by the Alberta Treasury Board and Finance. Tetra Trust holds the distinction of being Canada's first regulated digital asset custodian, a status that gives CADD a supervisory pedigree most projects lack at launch. "CADD offers a way to keep Canadian financial activity denominated in Canadian currency, even in a blockchain-native environment," Didier Lavallée, chief executive officer of Tetra Digital Group, said. Lavallée has framed the token as a tool to modernize Canadian payment infrastructure rather than as a trading instrument. The consortium behind the project reads as a roster of Canadian fintech and traditional finance: Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank of Canada and Shopify. Tetra raised $10 million in September 2025 to build the product out, and cleared a technical milestone in December 2025 when the first transfer of a Canadian-dollar stablecoin between regulated institutions settled on a testnet. Anchorage Digital was added in late May 2026 to provide custody for institutional clients. ## Solana's throughput is the point, not the price Solana's transaction throughput and low fees make it the most natural of the four networks for the payment flows CADD targets, which is why the expansion reads as a distribution decision rather than a marketing one. The target use cases are institutional: 24/7 cross-border settlement, real-time treasury transfers, programmable payments and fintech-to-fintech settlement — transactions that currently stall against correspondent banking hours and legacy rails that close on weekends and holidays. That is the gap CADD is selling into. Nearly all on-chain settlement runs through USD-pegged tokens, so even a transaction between two Canadian counterparties ends up economically tethered to the US dollar through the settlement asset itself. A CAD-denominated token removes that intermediate step for domestic flows, and by launching across four chains CADD positions itself to meet institutional users on whichever network they already operate. Supply figures for CADD were not yet disclosed as of Sept. 23, 2026, and no market capitalization data was available from DefiLlama at the time of publication. That absence matters for how the launch should be read: the announcement establishes rails and regulatory standing, not liquidity. A stablecoin's usefulness to treasurers scales with the depth of its float and the number of venues that quote it, and neither is established by a chain integration alone. ## What CADD is actually competing against The competitive set is not other Canadian tokens — it is USDC and USDT, which together dominate on-chain dollar settlement and have no incentive to cede Canadian payment corridors. Circle's USDC and Tether's USDT both trade at $1.0000 by design, and both are already native on Solana, meaning CADD arrives on a network where the incumbent settlement asset is deeply liquid and universally accepted. The regulatory contrast is the sharper differentiator. CADD operates under provincial approval from Alberta Treasury Board and Finance with reserves in segregated trust, a structure closer to a trust company than to a bank deposit. That is a narrower framework than the federal stablecoin regime taking shape in the United States, and a different one from the European Union's MiCA rules, which treat e-money tokens under a single passport. For a Canadian institution weighing which token to hold on its balance sheet, the question is whether provincial approval travels — and that remains untested across provincial and international boundaries. Tetra has not published a timeline for CADD issuance targets, exchange listings or additional chain deployments. The next observable milestones are the first disclosed supply figures and the first institutional counterparties named beyond the custody arrangement with Anchorage Digital. This article is for informational purposes only and does not constitute investment advice.
Sep 23 2026, 15:30
Bitcoin slides 2% to $84,344 as short-squeeze fuel runs out
Bitcoin traded at $84,344 on Sept. 23, down 2.16% for the session, after a push above $87,000 failed and left the token testing the $83,600 Supertrend line on the daily chart. The move lower came as the short liquidations that had powered the rally thinned out, removing the mechanical bid that carried BTC to an eight-month high of $87,374. Short bets liquidated across bitcoin markets totaled more than $171 million in the 24 hours to Sept. 23, down from $454 million a day earlier, according to Coinglass data. Total bitcoin liquidations over the same window topped $168 million, a fraction of the more than $500 million recorded on Sept. 21, when the squeeze was at its most intense. The exhaustion of that flow matters because it was doing the heavy lifting. A rally driven by forced buying of short positions needs a steady supply of new shorts to liquidate; once the crowded side of the book is cleared, price has to stand on organic demand. Open interest across the crypto market climbed past $159 billion alongside the rebound in leverage, a build that cuts both ways — it supports a run at $90,000 if spot demand absorbs it, and it supplies the fuel for a deeper unwind if $83,600 gives way. The macro backdrop that seeded the move remains intact. Bitcoin has climbed from $77,000 since Sept. 18, when the U.S. Senate stalled the CLARITY Act market structure bill, then extended gains after reports that the Commodity Futures Trading Commission submitted proposed crypto market rules to the White House. Weekend buying pushed the token back above $81,000 even as geopolitical tensions escalated, a decoupling that market researcher James Van Straten flagged in the bitcoin-to-gold ratio, which rose 7.55% on the weekly timeframe to 19.94. Bitcoin's market capitalization held at $1.73 trillion, keeping the broader crypto market above $3 trillion. The token's year-to-date loss sits just over 2%, with a double-digit weekly gain still intact — a spread that shows how much of the September advance has been given back in a single session. What happens next is a level question. A daily close below $83,600 opens the path back toward the $81,000 weekend base and would confirm that the $87,000 break was a liquidation event rather than a demand shift. Holding it keeps the $87,000 to $90,000 zone in play and resets the positioning base for another attempt. Ether and the largest altcoins traded in the same direction as BTC, with the correlation holding near recent highs as traders cut risk into the support test. This article is for informational purposes only and does not constitute investment advice.