Team and Founders

• Marcos Viriato – CEO, Co-Founder – 25+ years in banking; former COO and Deputy CTO at BTG Pactual

• Alex Buelau – CPTO, Co-Founder – 20+ years in engineering; serial blockchain founder; former Global Product Director at Siemens

• CH Lopes – COO – 21+ years in banking; former Head of Operations at BTG Pactual

• Dr. Jacob Mendel – Co-CTO – 20+ years in cybersecurity/DLT; former J.P. Morgan DLT Executive Director and State Street Cryptography Head; holds 23 patents

• Mario Yaksetig – Head of Research – 15 years in applied cryptography; BIS Technology Advisor

Investors and Key Partners

• Central Bank of Brazil (DREX pilot) – PoC for CBDC issuance and tokenized credit instruments

• Núclea – Largest FMI in the Southern Hemisphere; tokenizes 10,000+ commercial receivables weekly; $50M+ on-chain settled

• Cielo – Latin America’s largest payment acquirer; tokenized merchant settlement and credit-card receivables; ~800,000 daily payments targeted Q3 2025

• J.P. Morgan Onyx/Kinexys – Ranked first in “Epic” benchmark for privacy-focused institutional blockchain solutions

Project Concept and Operation

Rayls consists of two main components:

• Rayls Public Chain: EVM-compatible, permissionless; all accounts KYC-verified; fully interoperable with DeFi protocols

• Rayls Privacy Nodes: Private institutional blockchain infrastructure; banks and FMIs can deploy EVM chains

These systems together allow institutions to tokenize assets, distribute them on the public chain, and leverage DeFi protocols.

How Rayls Works

• Asset Issuance & Internal Transfers: Assets tokenized within Privacy Nodes; high-volume workflows use POA RBFT consensus

• Inter-Institution Transactions: Multiple Privacy Nodes form hub-and-spoke private networks, ensuring privacy, governance, and auditability

• DeFi Access & Settlement: Public Chain brings tokenized assets and liquidity to DeFi; POSA RBFT consensus

• Technology: High-performance Reth client; initial RBFT consensus, upgraded to Rayls Axyl (sub-second blocks, thousands TPS) in 2026

• Privacy: Enygma protocol provides EVM-compatible privacy; ZKP ensures transaction integrity; selective disclosure for auditors

Governance

$RLS token holders participate in validator selection, protocol upgrades, and ecosystem grants.

Roadmap

• June 2025 – Steam v1 Testnet

• Oct 2025 – Maglev Testnet

• Dec 2025 – Privacy Node v2 (private-public)

• Q1 2026 – Rayls v1 Mainnet

• Q2 2026 – Privacy Node v3 (multi-network)

• Q3 2026 – Enygma Privacy on Public Chain

• Q4 2026 – Scaling institutional assets and users

• 2027+ – 1B+ users and $1T+ on-chain assets

Token Details – Rayls (RLS)

• Total Supply: 10B RLS

• Max Supply: 10B RLS

• Circulating Supply: 0 RLS

Use Cases

• Staking: Validators and delegators secure the chain and earn rewards

• Governance: Token holders vote on protocol decisions

• Transaction Fees: Paid in $RLS for institutional operations

• Ecosystem Incentives: Grants, developer rewards, and liquidity incentives

RLS Token Distribution

• Community & Ecosystem – 50%

• Initial Investors – 22%

• Early Contributors – 18%

• Technology Provider – 10%

$RLS Token Flow and Economics

• All transaction fees, public or private, flow through $RLS, linking TradFi activity to DeFi demand

• Public Chain Fees: Paid in $USDr → converted to $RLS; 50% burned, 50% to Rayls Foundation for validators and ecosystem

• Private Chain Fees: Paid in $RLS; same 50/50 burn & distribution; fiat can be used via brokers

• Transaction Fee Distribution: 33% validators, 33% Rayls Foundation, 33% ecosystem development

Flywheel Effect

Institutional usage → $RLS demand → staking & rewards → more ecosystem growth → reinforcing $RLS adoption

Proof of Usage (PoU):
Tracks private transactions and posts public records to ensure transparency and trust

Validators:
Secure network by validating transactions and ZKPs; require $RLS staking; rewards in $RLS; slashing for dishonesty

Features & Ecosystem

• Privacy Node: Private EVM chains for asset issuance, client transfers, workflows

• Private Network: Permissioned inter-institution network for governance & compliance

• Public Chain: USD-pegged gas fees, fast finality, Enygma privacy, Ethereum security

Official Links

• Website
• Twitter
• Discord

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Visa Expands Stablecoin Capabilities

The global payments giant announced plans to add support for four stablecoins running on four unique blockchains. McInerney explained that these stablecoins represent two major digital currencies that Visa can process and convert into more than 25 fiat currencies.

“We are adding support for four stablecoins running on four unique blockchains, representing two currencies that we can accept and convert to over 25 traditional fiat currencies,” said Visa CEO Ryan McInerney.

Visa already supports USDC, EURC, PYUSD, and USDG on Ethereum, Solana, Stellar, and Avalanche networks. The expansion reinforces Visa’s leadership in integrating blockchain technology into global payment systems.

Stablecoin Transactions Hit Record Growth

According to McInerney, Visa has facilitated over $140 billion in crypto and stablecoin flows since 2020. The company has seen “significant momentum” in this sector as consumer spending through stablecoin-linked cards quadrupled compared to last year.
Monthly transaction volume has now surpassed $2.5 billion, underscoring Visa’s growing impact in bridging traditional finance and decentralized payments.

Banks Can Issue Their Own Stablecoins

Visa is giving banks and financial institutions the tools to mint and burn their own stablecoins. McInerney said this is part of the company’s next development phase on its tokenized asset platform. Through Visa Direct, cross-border transactions will become faster and more transparent. This move is expected to boost stablecoin adoption and accelerate financial integration worldwide.

Visa is also expanding its pilot program that enables pre-funded cross-border payments using USDC and EURC, laying the groundwork for scalable blockchain-based payment infrastructure.

Key Takeaways

• Visa adds four new stablecoins across four blockchains.

• Banks can issue and burn stablecoins via Visa’s tokenized asset platform.

• Stablecoin-linked spending has quadrupled year-over-year.

• Monthly stablecoin volume exceeds $2.5 billion.

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DevvStream’s Digital Asset Strategy 

The company has chosen Bitcoin as the cornerstone of its digital portfolio. Solana (SOL) was included due to its transaction speed and broad ecosystem. Additionally, the company’s own DevvE token is among these digital assets. In this way, DevvStream aligns its sustainability goals with its digital asset strategy. 

DevvStream appointed BitGo Trust Company as the custodian of its digital assets. FRNT Financial acts as the digital treasury advisor. These steps reflect the company’s aim for institutional-grade and secure digital asset management. 

CEO Sunny Trinh stated: 

“Launching our treasury strategy with Bitcoin and Solana is a critical step in connecting carbon markets to the digital economy. We have strengthened our balance sheet by expanding credit facilities. This positions us to tokenize high-value environmental assets at scale.” 

Sustainability and Tokenization: DevvStream’s Future Plans 

DevvStream plans to expand its digital asset portfolio to support sustainable infrastructure investments. The company also aims to offer diversified opportunities to investors through the tokenization of real-world assets. This strengthens its mission to merge carbon markets with the digital economy. 

Moreover, this strategy reflects growing institutional interest in digital assets. Companies like DevvStream are accelerating the integration of sustainability and technology. Meanwhile, the role of digital assets in financial models continues to grow. 

In conclusion, DevvStream’s crypto asset move not only strengthens its balance sheet but also pioneers the digitization of carbon markets. This development opens the door to new opportunities in sustainable finance and the digital economy.

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The first step was taken with the issuance of $15 million in convertible bonds. A large portion of the funds raised was allocated for Dogecoin purchases. This initiative marks the beginning of Bit Origin’s plan to create a total DOGE reserve of $500 million. 

This decision, which has made waves in the crypto world, indicates that the company will deepen its relationship with digital assets in the coming period. Moreover, Dogecoin — long absent from most corporate reserves — is now entering a new era. 

$500 Million Dogecoin Plan in Action 

Bit Origin’s reserve strategy isn’t limited to the initial $15 million step. A massive funding package has been announced, including $400 million in stock sales and $100 million in bond issuance. This funding structure will allow the company to accelerate its DOGE purchases. 

According to shared details, the company acquired approximately 40.5 million Dogecoin in the initial purchase. This move could pave the way for Dogecoin to be more frequently seen in the corporate investment world. 

This reserve structure not only boosts confidence in Dogecoin but could also inspire similar models for other companies. Additionally, Bit Origin’s strategic step may serve as a model for long-term crypto portfolio planning. 

Institutional Confidence in Dogecoin Rises 

Bit Origin’s move is more than just an investment; it sends a message. The company aims to show that Dogecoin is not merely a “meme coin” but possesses real reserve strength. 

Meanwhile, DOGE’s price movements during this process have also attracted investor interest. However, the company emphasized that its focus lies on long-term value storage rather than short-term price fluctuations.

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DeFi Development Corp., a Nasdaq-listed crypto treasury firm, has announced it will tokenize its shares on the Solana network. This move positions the company as the first U.S.-listed treasury firm to fully integrate on-chain equity with the help of Kraken and tokenization specialist Backed.

Solana Welcomes Tokenized Equities

Under the ticker DFDVx, DeFi Development Corp. shares will join a growing list of tokenized stocks — including Apple and Tesla — on the xStocks platform. The goal is not only symbolic. It represents the increasing integration between traditional finance and decentralized technologies.

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CEO Joseph Onorati likened this initiative to creating a DeFi “Lego block,” encouraging developers and institutions to build upon this foundation. As tokenization becomes more mainstream, such steps pave the way for seamless crossover between markets.

Massive Growth Expected in Tokenized Assets

Real-world assets (RWAs) such as equities, funds, and real estate are rapidly entering the world of tokenization. These assets offer advantages like 24/7 trading, faster settlements, and expanded use in DeFi platforms.

According to a joint report by BCG and Ripple, the total market for tokenized RWAs could reach $18.9 trillion by 2033. As this sector heats up, rival exchange Coinbase is also reportedly seeking regulatory approval to launch its own tokenized stock service.

Val Gui, general manager of xStocks at Kraken, noted strong demand for on-chain access to U.S. equities, especially from the crypto community. The integration of firms like DeFi Development Corp. signals a broader shift toward blockchain-native financial instruments.

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Leading institutions such as BlackRock, Deutsche Bank, Coinbase, and Kraken have clearly demonstrated their interest in Ethereum’s decentralized infrastructure. These firms also find the network’s transparent structure aligned with their strategic goals. 

Ethereum co-founder Vitalik Buterin noted that institutional firms prioritize network stability over transaction speed. Meanwhile, Ethereum Foundation Co-Executive Director Tomasz Stańczak emphasized that the network will remain globally accessible and permissionless. 

Robust Infrastructure Draws Institutions to Ethereum 

ETH offers a reliable environment for tokenized assets and on-chain ETFs. Institutions looking to deploy DeFi protocols and stablecoins view Ethereum’s infrastructure as secure. 

As of July 5, 2025, Ethereum’s market cap surpassed $300 billion, and its market share reached 9.10%. Meanwhile, ETH’s price increased by 54%, reflecting the rising confidence among investors. 

ETH is also making significant strides in regulatory compliance, accelerating the entry of major capital. Thanks to Layer 1 and Layer 2 solutions, the network offers lower costs and higher transaction capacity. Furthermore, secure custody and compliance infrastructure give Ethereum a competitive edge on an institutional scale. Additionally, the network’s advanced smart contract capabilities enable the construction of complex financial products. 

Ethereum’s support for on-chain derivatives and automated portfolio management tools continues to drive institutional interest. As a result, Ethereum is becoming a cornerstone of the financial world. 

Conclusion: Ethereum Becomes the New Standard of Institutional Finance 

Institutional investors now seek not just speed but security and sustainability. ETH is meeting these demands, solidifying its leadership. Moreover, technological advancements and regulatory progress are integrating the network into traditional financial systems. Ultimately, ETH is evolving beyond a cryptocurrency into the infrastructure of the global digital economy. 

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The stablecoin giant has launched XAUt0, an omnichain version of its gold-backed token XAUt, on TON (The Open Network), marking a new chapter in digital precious metals.

A New Standard in Gold Investing

Built on LayerZero’s “Omnichain Fungible Token” standard, XAUt0 enables seamless transfers across blockchains without using wrapping mechanisms or middlechains. This technical leap allows broader and more flexible access to digital gold.

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XAUt, available only on Ethereum, is currently the largest gold-backed stablecoin by market cap at $832 million, closely followed by Pax Gold at $811 million. Tether backs the token with over 7.7 tons of physical gold stored in a Swiss vault, according to its Q1 2025 attestation.

The move follows Tether’s launch of USDt on the TON network earlier in 2024 and mirrors the structure of USDT0, its omnichain dollar-pegged token that spans multiple chains through Optimism’s Superchain ecosystem.

Gold Prices Surge Amid Global Uncertainty

Gold prices have surged in 2025, driven largely by economic instability and escalating trade tensions. As of May 30, gold traded at $3,304 per ounce — a 29.5% increase from the previous year.

Gold ETFs have also performed strongly, with the top eight funds gaining over 25% year-to-date. Tether’s XAUt0 is set to compete with such instruments, offering digital asset investors a new way to access gold’s stability in turbulent times.

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The PurposeBuilt Fund will invest in projects in gaming, financial services, payment systems, and artificial intelligence, targeting ventures at pre- or post-token generation event (TGE) stages. The fund prioritizes long-term value and utility over short-term speculation. 

DAAF stands out as one of the top-performing directional liquid token funds in the market. Launched in 2022, the fund has focused on liquid token investments based on scalability, economic alignment, and real adoption. It now brings the same approach to the Avalanche ecosystem. 

VanEck Web3 Vision

VanEck’s portfolio manager, Pranav Kanade, stated: 

“The next wave of value in crypto will come from real businesses, not more infrastructure. Avalanche has become a magnet for thoughtful builders. With the PurposeBuilt Fund, we’re bringing capital and conviction to founders. We’re not chasing momentum. We’re building lasting value.” 

Avalanche’s ecosystem is currently valued at approximately $50 billion. The VanEck team notes that the number of developers building significant projects on this network is rapidly increasing. Developers are creating on-chain economic activities while pioneering new markets. 

The PurposeBuilt Fund reflects VanEck’s “GDP on-chain” vision. According to the firm, blockchain technology will become central to global economic and financial systems. Projects aligned with this vision are expected to be the most resilient. 

John Nahas, Chief Operating Officer of Ava Labs, commented on the development: 

“VanEck’s launch of the PurposeBuilt Fund marks a significant moment for the Avalanche ecosystem. We’re seeing a shift from speculative hype to real utility and sustainable token economies. VanEck’s fund brings the kind of long-term capital and strategic conviction that founders need to lead this transition. This fund reinforces Avalanche’s strength as a hub for serious builders.” 

The fund focuses on long-term value rather than short-term gains. This strategy aims to build a sustainable structure in the Web3 world. VanEck seeks to provide capital to projects with real-world applications and tangible benefits. In this context, it is targeting real-world asset (RWA) solutions like Avalanche’s tokenized money market funds. This approach both provides liquidity and grows the network’s internal economy. 

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SolvBTC.AVAX Links Bitcoin to Real-World Economic Cycles

Solv Protocol has introduced SolvBTC.AVAX, a yield-bearing Bitcoin token built on the Avalanche blockchain. Unlike traditional crypto yield products, this token is backed by real-world assets (RWAs) such as U.S. Treasurys and private credit via partnerships with institutions like BlackRock and Hamilton Lane.

Developed through a seven-partner collaboration — including Elixir, Euler, Re7 Labs, LFJ, Balancer, and Avalanche — the token uses a multi-protocol strategy. Elixir’s deUSD synthetic dollar and lending mechanisms on Euler expand the exposure to RWAs.

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According to Solv founder Ryan Chow, this connects Bitcoin to broader macroeconomic forces, beyond its typical four-year halving cycle.

BTC-Paid Yield From Real Assets

The yield from SolvBTC.AVAX is paid directly in BTC, giving investors a familiar asset class with more predictable returns. Elixir’s deUSD, with a market cap exceeding $220 million, underpins the structure’s stability.

Solv currently holds over $2.3 billion in total value locked (TVL) and operates as a cross-chain staking platform focused on Bitcoin-centric yield strategies.

Institutions Fuel Demand for Bitcoin Yield

Institutional interest in Bitcoin yield products is on the rise. Coinbase recently launched its own Bitcoin Yield Fund, targeting 4% to 8% annual returns. Other players like MicroStrategy are tracking BTC Yield as a metric, showing performance rates of over 15% year-to-date.

With RWA-backed yield models like SolvBTC.AVAX entering the market, Bitcoin is evolving from a store of value to a yield-generating financial tool.

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From Walled Garden to Open Ledger

JPMorgan Chase has long maintained a “walled garden” approach to blockchain, focusing on a private system for its clients. But on May 14, 2025, the bank announced that it successfully settled a transaction on a public blockchain with the support of Chainlink and Ondo Finance.

Through its blockchain unit, Kinexys, JPMorgan facilitated a transaction between two internal accounts to purchase tokenized treasuries on Ondo’s public network. The payment was triggered via Chainlink, a decentralized oracle network that bridges real-world data and blockchains.

More Than Just a Proof of Concept

Although JPMorgan has tested public blockchain interactions before, such as a 2024 collaboration with Siemens, this marks the first time it has built a functional interface to a public ledger. According to Sergey Nazarov, Chainlink’s cofounder, this infrastructure is moving toward production use.

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Nelli Zaltsman, head of platform settlement solutions at Kinexys, emphasized that this isn’t about chasing political trends or investor hype. It’s a carefully planned move rooted in the bank’s long-term blockchain roadmap.

Regulatory Shifts and Industry Momentum

JPMorgan’s move comes during a broader shift in the U.S. regulatory landscape. Under President Donald Trump, a known pro-crypto advocate, regulators have reversed prior crackdowns, encouraging institutions to re-engage with crypto. His administration has even ordered the creation of a strategic Bitcoin reserve.

Meanwhile, legacy finance names like Fidelity, BlackRock, and Morgan Stanley are ramping up their blockchain efforts. But JPMorgan’s leap into the public space is being viewed as a turning point driven by strategy—not politics.

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