The tokenization of real-world assets (RWAs) has experienced rapid growth in 2025, with the market value increasing by over 260% in the first half of the year, rising from $8.6 billion to more than $23 billion. Private credit dominates this market, accounting for 58% of the total, followed by tokenized U.S. Treasury debt at 34%. Institutional demand is a key driver behind this expansion, with sectors like private credit, Treasuries, and real estate seeing strong adoption. Concurrently, the stablecoin market has reached new heights, with its global supply topping $250 billion, an increase of approximately $80 billion over the past year. Stablecoins now represent about 1.1% of the U.S. dollar supply, and their usage is expanding rapidly, including notable growth on platforms like Aptos, where supply rose from $430 million to $1.22 billion since the start of 2025. Stablecoins are gaining traction worldwide, particularly in Latin America, where they are increasingly used as units of account amid dollar shortages. BlackRock has been actively rotating its cryptocurrency holdings, purchasing $15.9 million worth of Ethereum ($ETH) while selling $130 million worth of Bitcoin ($BTC), and currently holds $3.7 billion in Ethereum. The firm has reportedly acquired $500 million worth of Ethereum in the past 10 days, signaling a strategic shift. In South Korea, President Lee has announced plans to establish a special committee on digital assets aimed at reforming Bitcoin and broader cryptocurrency laws, signaling a pro-crypto regulatory stance. The president also appointed Kim Yong-beom, former CEO of Hashed, as Chief of the Presidential Policy Office, further emphasizing this direction. These developments reflect a growing institutional embrace of tokenized finance and digital assets, with stablecoins and tokenized real-world assets playing central roles in the evolving financial landscape.