Particula

?????????????????? ?????????????? ???? ????+ ????????????* ???? ?????? ???????????????? ???? ?????? ?????????? ???????????????????? ?????????? ?????????? ???????????????? ????-?????????? ???????? ?????????? ($??????????) ???? ?????????? ???????????? ?????????? ???? ???? ???????????????? ????, ????????. The $ULTRA token provides exposure to U.S. Treasury Bills and is managed by FundBridge Capital, with Wellington Management serving as the Sub-Fund Manager. The rating favorably considers the issuer's bankruptcy-remote operational structure, which is subject to stringent regulatory oversight and the robust product design supported by an efficient technical infrastructure provided by Libeara. It also takes into account the direct ownership of fund shares and the high quality of the underlying assets. However, the rating also reflects certain challenges, including operational and market adoption challenges, regulatory & legal risks as well as technical constraints and potential security vulnerabilities associated with the issuance and management of $ULTRA. ? Our goal is to provide the next generation of ratings for the next generation of assets in order to give investors instant security, clarity and better market access. #Tokenization #DigitalAssets #RiskAssessment _______________________ *????????????????????: ?????? ?????????????????????? ?????? ???????????????? ?????????????? ???? ???????????? ????????????, ???????????? ????????????, ?????? ?????????? ?????????????? ???????????? (“?????????????? ????????????“) ???????????????? ???? ?????????????????? ???????? (“??????????????????“) ?????? ?????????????????????? ???????? ?????????????????? ???? ?????????????????????????? ???????????? ?????? ?????????????? ???? § 14 ?????? ?????? ?????? ???????????????? ???????????? ?????? ?????????????????????????? ????????????????. ?????? ???????????????? ?????????????????????? ?????? ???????????????? ???? ?????? ???????????????????? ?? ???????????? ???? ?????????????? ???? ??????. 3 ????????. 1 ??????. ??) ???? ???????????????????? ????/1060/2009 (“???????????? ????????????????????“). ?? ???????????????????????????????? ???????????????????? ???? ?????????????? ???? ??????. 3 ????????. 1 ??????. ??) ???? ?????? ???????????? ????????????????????, ???????????????????? ?????? ????????????’?? ????????????????????????????????, ???? ?????????????????? ?????? ???????? ???? ?????? ????????????????.

Tokenization news from around the globe ?? Excited to always curate these updates for you, especially with everyone busy at conferences & building, some news can easily slip through the cracks. ?? Recap from the last 2 weeks: ? Superstate registers SEC-compliant transfer agent to support tokenized securities, initially servicing its $420M in tokenized funds. ? Ondo Finance integrates with Mastercard’s Multi-Token Network (MTN) to offer tokenized US Treasuries (OUSG), marking one of the first direct links between public blockchains & private payments networks. ? Digital Asset & Euroclear launch tok. collateral mobility on Canton Network to enhance real-time asset movement, 24/7 trading, & institutional adoption of digital finance. ? XDC Network & Archax to tokenize institutional-grade MMFs from BlackRock, Fidelity, & State Street. ? DigiFT secures MAS custody license to provide in-house custody for tokenized RWAs, streamlining issuance & settlement in Singapore’s regulated digital asset marketplace. ? ChinaAMC HK launched on Ethereum, approved by the SFC, Hong Kong's first retail tokenized fund at a size of $107M. ? Binance to delist non-MiCA stablecoins in the EU by March 31, removing USDT, DAI, & others while allowing conversions to compliant alternatives like USDC. ? SBI registers as Japan’s first stablecoin exchange provider, gaining approval under new regulations to handle USDC & launching beta services on March 12. ? Oxbridge Re Holdings Limited targets 20% & 42% returns on tok. reinsurance with new blockchain-based tranches EtaCat Re & ZetaCat Re, accessible from $5,000. ? Tether has launched Hadron, a platform enabling digital asset tokenization on the Liquid Bitcoin Layer 2 network, enhancing liquidity & scalability for trading. ? Frax adds Janus Henderson Anemoy Treasury Fund as frxUSD collateral, integrating Anemoys & Centrifuge’s tok. treasuries into Fraxtal (Frax’s L2). ? Bybit rewards holders of Ethena’s USDtb, backed by BlackRock’s BUIDL, offering up to 5% APR daily, reinforcing its stablecoin market expansion. ? Coinbase revives tokenized securities push as U.S. regulations shift, with renewed SEC talks on security tokens & international crypto products. ? Libre Capital & Laser Digital enable institutional access to tokenized BlackRock & Nomura funds, enhancing secondary trading & DeFi liquidity via Injective. ? Wellington ULTRA Fund receives AA+f/S1+ from S&P, joining Particula’s AA+ & Moody’s Aa ratings, reinforcing its institutional-grade risk management. ? Noble launches USDN yield-paying stablecoin on Cosmos, backed by U.S. Treasuries with 4.15% APY, sharing revenue with developers, wallets, & exchanges. ? HKEX introduces WhiteRock tokenization platform for 24/7 stock trading, initially tokenizing HSBC & AIA with lower fees via its native WHITE token. ? Bahrain’s ATME launches tokenized gold, backed by the central bank, offering blockchain-based gold investments with each token representing 1kg of gold.

?????????????????????? Pawe? Borowski, ?????? ?????? ???????????????? ?????????????? ???? ??????????????????! Pawel brings a wealth of experience to our team, having spent six years at Fitch Ratings in London, where he most recently served as Associate Director in the Economics Team, specializing in modeling and data analysis. During his time at Fitch, he authored and co-authored numerous research pieces on macroeconomic trends and global CO2 emissions. Prior to that, he gained experience at Scope Ratings and KPMG, further deepening his expertise in financial analysis and risk assessment. We’re excited to have him on board as we continue to expand our capabilities in risk ratings and analytics for digital assets. Welcome to the team, Pawel! ??

?????????? ???????? ???????????????? ????+??/????+ ???????????? ???????? ??&?? ????????????, ???????????? ???? ?????????????????? (????+) ?????? ??????????’?? (????) ?????????????????????? S&P Global has assigned AA+f/S1+ ratings to ULTRA Fund, underscoring its institutional-grade structure and rigorous risk management framework. The AA+f rating, just one step below AAA, reflects strong credit quality, while S1+ represents the highest possible volatility rating, signaling stability and resilience. This recognition aligns with Particula’s AA+ risk rating (positive outlook) and Moody’s Aa bond fund rating. The assessments highlight ULTRA's credibility as a regulated, on-chain gateway to U.S. Treasuries, combining transparency, security, and oversight. ?? Read more - Links in the comments.

We’re proud to share that?S&P Global has assigned ????+??/????+?ratings?to ?????????? ????????, recognising its institutional-grade structure and strong risk management.?AA+f, just one step below AAA, highlights its solid credit quality, while?S1+?reflects the safest possible volatility rating. These ratings, alongside?Particula (????+ ???????? ?? ???????????????? ??????????????)?and?Moody's (???? bond fund rating)?assessments, reinforce ULTRA’s robust governance, liquidity, and institutional strength. This milestone strengthens our mission to provide?regulated, on-chain access to U.S. Treasuries?with top-tier transparency, security, and oversight. We appreciate?Wellington Management, FundBridge Capital, and Standard Chartered Bank?for their key roles in making this vision a reality. Read more about it here: ?? S&P Global: https://lnkd.in/g6YGSQVF ?? Particula: https://lnkd.in/gHQfyp8B ?? Moody's: https://lnkd.in/gVWs6-Hb #Libeara #TokenisedTreasuries #DigitalAssets #FixedIncome #BlockchainFinance #FinancialInnovation #CreditRatings

BOSONIC and Particula Forge Alliance to Drive Transparency and Trust in Tokenized Markets ?? Our goal is to address the critical need for transparency, trust, and efficiency in this rapidly growing space. Through this strategic alliance, Particula’s risk rating and monitoring services will integrate seamlessly into Bosonic's decentralized financial infrastructure, including Bosonic Securities' US-licensed Alternative Trading System (ATS). ? Trust and Transparency Independent risk assessments embedded in Bosonic's platform bring clarity, empowering informed decisions. ? Due Diligence Automated, data-driven insights simplify evaluations, accelerating investment decisions and proactive risk management. ? Liquidity and Growth A transparent, scalable ecosystem built to? boost market participation and grow liquidity and adoption of digital finance.

???? ?????? ???????????????? ???? ???????????????? ?????? ?????? ???????????????? ???????? ???????????? ??????????????, ?????? ?????????????????? ?????????????????????? ?????? ???????? ?????????? ????????????.?? NewEra Finance offers investors transparent & streamlined access to Real World Assets through a comprehensive and secure interface. Smart liquidity aggregation across NewEra Pools and 130+ exchanges delivers optimal pricing, enhanced by automated Liquidity management and Smart Swaps. The protocol is built around innovative features like Smart Swaps with multiple execution strategies (Limit, TWAP, auction orders) based on trade size, Automated Single Asset Vaults and Compliance on Smart Contract Level, addressing the current limitations in Real World Asset secondary markets. ?? Particula will play an integral role in their new listing process, assisting issuers by supplying industry benchmarks and providing investors independent risk assessments of investment vehicles. This integration enables NewEra to offer actionable insights, empowering investors to better navigate the market, identify suitable assets, and compare offerings from different issuers.

????????????, ???????????????? ???????? – ?????????????????? ?????? ???????? ???????????????? ???? ?????????????????????? ???????????? ???? ?????????????? ?? ???????????? ????-?????????? ???????????????????? ???? ?????? ?????????????????????? ???????????? ???????? ?? (????????). ?????????? ?????????????????????? ???????????? Blockstream Mining aims to lower barriers to entry for individuals and businesses interested in Bitcoin's proof-of-work mining system. Blockstream Mining Note 2 (BMN2) is a tokenized investment product linked to Bitcoin mining hashrate. BMN2 represents an unsecured note facilitating a revolving loan facility for Bitcoin mining operations. STOKR is collaborating with Blockstream Mining to support the issuance of the BMN2, providing the platform and regulatory framework for tokenization and distribution. This partnership enables streamlined investment processes and enhanced liquidity through secondary market integrations. ?????? ?????????????????????????? ???????????????????? ???? ?????? ???????? ?????????? ???????? ??????????????: 1?? Company Overview & Assessment Summary 2?? Recent Company Developments 3?? Key Strengths & Challenges 4?? Comparative Analysis of BMN1 & BMN2 The decision to publicly disclose this assessment underscores Blockstream Mining’s and STOKR’s dedication to transparency, providing investors with clear insights into the BMN2 token and the broader investment opportunity.

We are pleased to announce the official launch of the ?????????? Fund, a collaboration across Wellington Management, Libeara and FundBridge Capital. This fund offers accredited and institutional investors access to Wellington Management’s less than 1 year duration U.S. Treasury strategy on Ethereum. ?????? ????????????????: ?? ????????-????-?????????? ???????? ??????????????????: offered through a Singapore Master Trust ?? ???????????????? ???? ???? ???? ?? ???????? ??.??. ????????????????????: allowing longer duration than money market funds ?? ???????? ????-?????????? ????????????????????: available on Ethereum Mainnet, soon on Arbitrum, Avalanche, and Solana ?? ???????????? ?????????????????????????? ??????????????????????????: with Standard Chartered Bank providing banking and custody services ?? ?????????????????????? ???????????? ??????????????: from Particula (????+) and Moody’s (????) ?? ?????????????????? & ???????????????????? ??????????????: Ondo Finance intends to facilitate intraday redemptions? ? We’re also excited to share that Particula has assigned the ULTRA Fund an ????+ rating with a positive outlook, while Moody's Ratings has provided a bond fund assessment of ????-????.?The assessment considered technical, governance, and market adoption factors, incorporating feedback from Wellington Management, as well as key updates on smart contract implementation and liquidity strategy. This rating provides investors with greater transparency into the fund’s structure and operational integrity. This launch represents a major step in bridging traditional finance with blockchain technology, delivering institutional-grade security, transparency, and efficiency for tokenized U.S. Treasuries.

As the market keeps growing and my daily work ramps up, finding time to post has been a challenge! ??? But finally, here’s my recap of what’s happened so far in Digital Asset & Tokenization in Feb! ? Anemoy's LTF to integrate with Plume Network’s staking protocol, enabling stablecoin holders to earn yield on regulated treasury assets through Plume’s Nest platform. ? Kraken secures EU MiFID license, allowing it to offer regulated derivatives to advanced traders across selected European markets. ? Thailand SEC to plan launch of tok. securities trading system, supporting both traditional & digital assets on a DLT-based platform with cross-chain interoperability. ? DTCC launches digital asset data & reporting tools under ComposerX, integrating tok. infrastructure with Ethereum & EVM-compatible blockchains. ? Figure seeks SEC approval for an interest-bearing stablecoin that accrues daily interest & is redeemable at 1 cent per certificate, rather than a fixed $1 peg. ? Total stablecoin supply on Base surpasses $4B, with USDC leading at $3.66B, reflecting continued adoption of Coinbase’s Layer 2 network. ? Ondo Finance launches Ondo Chain, a Layer 1 blockchain designed for institutional-grade tok. of stocks, bonds, & ETFs with permissioned validators. ? Blocksquare unveils EU-compliant real estate tok. framework in Luxembourg, integrating land registries to ensure legal ownership rights under MiCA. ? Hilbert Group to launch platform for trading tok. equities & pre-IPO shares, in collab with Cointelegraph & Galactica Network to ensure compliance. ? DigiFT to launch a token that derives its performance from a senior secured loan portfolio managed by Invesco. ? 21X & ABN AMRO Bank N.V. complete PoC for tok. securities trading, demonstrating instant settlement capabilities ahead of 21X’s full launch in 2025. ? Plume Network & Mercado Bitcoin to tokenize $40M in RWAs, bringing Latin American financial products like corporate debt & consumer credit on-chain. ? Citi collaborates with Wellington Management & WisdomTree on private markets tok., showcasing smart contract automation for $10T private fund markets. ? Standard Chartered, Animoca Brands, & HKT to issue HKD-backed stablecoin, leveraging bank-grade infrastructure & Web3 expertise for digital payments. ? Franklin Templeton extends FOBXX fund to Solana, adding to its blockchain integrations across Base, Aptos, Avalanche, & Stellar. ? Midas introduces liquid yield tokens (LYTs), an onchain hedge fund alternative that dynamically tracks portfolio performance instead of maintaining a fixed $1 peg. ? Standard Chartered to support ChinaAMC in launching Asia Pacific’s first tok. retail money market fund, leveraging Libeara for on-chain asset management. ? Particula assigns AA+ rating to Delta Wellington Ultra Short Treasury On-Chain Fund ($ULTRA) by FundBridge Capital, citing its strong regulatory compliance & institutional-grade structure.