Key Takeaways:

• Revolut: Launches 1:1 USD-backed stablecoin exchange service.
• Real World Assets (RWA): Standard Chartered forecasts a $2 trillion market by 2028.
• ETFs: Bitcoin spot ETFs experience net outflows.

Revolut Introduces USD-Backed Stablecoin Exchange

Revolut has announced the launch of a service enabling users to exchange US dollars for stablecoins like USDC and USDT at a 1:1 ratio across six major blockchain networks, including Ethereum and Solana. This initiative aims to simplify the conversion process between fiat and cryptocurrencies, reducing complexities for users.

RWA Tokenization Market Poised for Growth

Standard Chartered predicts the Real World Assets (RWA) tokenization market will reach $2 trillion by 2028, with the majority of these assets expected to be based on the Ethereum network. Analysts believe stablecoins are paving the way for wider adoption of digital assets.

ETF Updates and Market Trends

Bitcoin spot ETFs have seen significant net outflows, indicating a shift in investor sentiment. However, there are also positive developments, such as increased inflows into Solana ETFs.

Other Notable Crypto Market Developments:

• dYdX plans US market entry with significant trading fee reductions.
• Ether.Fi community proposes a $50 million ETHFI buyback program.
• SEGG Media intends to launch a $300 million digital asset program, initially focusing on Bitcoin.

These developments highlight the ongoing dynamism in the cryptocurrency market, with new players entering, regulatory developments unfolding, and shifts in investor sentiment.