Interesting fact:
of ~$390B in stablecoin payments a year, only ~1% ($4.5B) is cards.
The rest is mostly B2B, remittances, treasury.
Everyday spend is still the outer ring.
We're early.
Get it here 👉 https://app.falcon.finance/card
of ~$390B in stablecoin payments a year, only ~1% ($4.5B) is cards.
The rest is mostly B2B, remittances, treasury.
Everyday spend is still the outer ring.
We're early.
Get it here 👉 https://app.falcon.finance/card
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Compute is becoming an investable asset class, but many compute-backed contracts still lack a liquid secondary market or a clear path to being used as collateral.
We know that closing this gap could unlock the market’s next phase.
We know that closing this gap could unlock the market’s next phase.
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Goldman’s baseline puts AI compute capex at ~$5.1T from 2026 through 2031.
And NVIDIA just signed MOUs with Apollo, BlackRock, Blackstone, Brookfield, Goldman and KKR to develop financing platforms targeting $500B+ in third-party capital.
Goldman even wants to create a credit market backed by NVIDIA compute.
Compute is basically infrastructure now, the kind Wall Street wants to lend against.
And NVIDIA just signed MOUs with Apollo, BlackRock, Blackstone, Brookfield, Goldman and KKR to develop financing platforms targeting $500B+ in third-party capital.
Goldman even wants to create a credit market backed by NVIDIA compute.
Compute is basically infrastructure now, the kind Wall Street wants to lend against.
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Tokenize everything, then what?
📂 UTILITY
┃
┣ 📂 collateral
┣ 📂 yield
┣ 📂 pay
┃
┗ ⚙️ FLYWHEEL ↺
┣ use
┣ demand
┗ liquidity
📂 UTILITY
┃
┣ 📂 collateral
┣ 📂 yield
┣ 📂 pay
┃
┗ ⚙️ FLYWHEEL ↺
┣ use
┣ demand
┗ liquidity
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Most tokenization stories end at issuance.
A usable onchain asset still needs:
• regulated mint & redemption
• a secondary market
• a path to becoming eligible collateral
This week, we are showing how those pieces can connect.
More tomorrow.
A usable onchain asset still needs:
• regulated mint & redemption
• a secondary market
• a path to becoming eligible collateral
This week, we are showing how those pieces can connect.
More tomorrow.
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Compute financing has become one of the fastest-growing categories in asset-backed credit, and almost all of it is arranged through private syndicates. A lender who wants out before maturity has very few options.
We opened a regulated pipeline for tokenized real-world asset issuance in El Salvador. The first issuance, currently in structuring, is a tokenized GPU forward financing compute infrastructure. NEAR AI is the anchor buyer of the compute the hardware will produce. Supply is already contracted and priced with the manufacturer. The issuance funds delivery.
The framework brings together regulated issuance, open secondary trading, and onchain collateralization:
→ The asset will be issued through NOTA S.A.S. de C.V. (PSAD-0088), licensed under El Salvador’s Digital Assets Issuance Law, the same regime under which Tether Gold is issued.
→ It’s designed to trade on permissionless venues including Uniswap.
→ Once it demonstrates sufficient trading volume and depth, it will be eligible to be accepted as collateral to mint USDf on Falcon Finance.
Most issuers do not want tokenization. They want liquidity, composability, and capital they can actually use.
If you're an issuer, submit an asset for consideration: https://tokenize.falcon.finance
We opened a regulated pipeline for tokenized real-world asset issuance in El Salvador. The first issuance, currently in structuring, is a tokenized GPU forward financing compute infrastructure. NEAR AI is the anchor buyer of the compute the hardware will produce. Supply is already contracted and priced with the manufacturer. The issuance funds delivery.
The framework brings together regulated issuance, open secondary trading, and onchain collateralization:
→ The asset will be issued through NOTA S.A.S. de C.V. (PSAD-0088), licensed under El Salvador’s Digital Assets Issuance Law, the same regime under which Tether Gold is issued.
→ It’s designed to trade on permissionless venues including Uniswap.
→ Once it demonstrates sufficient trading volume and depth, it will be eligible to be accepted as collateral to mint USDf on Falcon Finance.
Most issuers do not want tokenization. They want liquidity, composability, and capital they can actually use.
If you're an issuer, submit an asset for consideration: https://tokenize.falcon.finance
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Private markets still run on slow rails, but tokenization isn’t a simple mint button.
At Falcon Finance, it’s a path from due diligence to a tokenized asset that holders can trade, and if eligible, use as collateral to mint USDf:
• Submit + review
• Legal structuring
• Issue + list
• Meet liquidity + pricing criteria → may be accepted as collateral to mint USDf
Interested in tokenizing an asset with Falcon?
Explore the full process and submit an asset for review:
https://tokenize.falcon.finance/
At Falcon Finance, it’s a path from due diligence to a tokenized asset that holders can trade, and if eligible, use as collateral to mint USDf:
• Submit + review
• Legal structuring
• Issue + list
• Meet liquidity + pricing criteria → may be accepted as collateral to mint USDf
Interested in tokenizing an asset with Falcon?
Explore the full process and submit an asset for review:
https://tokenize.falcon.finance/
When things were quiet, we kept building.
We’re locked in now just as we were when we first started, ICYMI:
- fUSD: Anchorage-issued institutional dollar, GENIUS-ready, ~3% T-bill rewards for qualifying desks
- Falcon Card: crypto + tokenized assets → USDf → everyday spend, live in 90+ countries
- El Salvador RWA pipeline: first issuance is a tokenized GPU forward, currently in structuring
Explore more here 👉 https://falcon.finance
We’re locked in now just as we were when we first started, ICYMI:
- fUSD: Anchorage-issued institutional dollar, GENIUS-ready, ~3% T-bill rewards for qualifying desks
- Falcon Card: crypto + tokenized assets → USDf → everyday spend, live in 90+ countries
- El Salvador RWA pipeline: first issuance is a tokenized GPU forward, currently in structuring
Explore more here 👉 https://falcon.finance
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Distributed RWAs just printed another all-time high: $38.4B.
US Treasuries still lead at $16.15B. Tokenized credit is second at $7.36B once you add asset-backed, specialty finance, corporate, and diversified. It's easy to miss because they're separated into four categories in this chart.
That credit book is the market we just opened a regulated issuance path for in El Salvador. The first issuance, currently in structuring, is a tokenized GPU forward to finance compute infrastructure.
US Treasuries still lead at $16.15B. Tokenized credit is second at $7.36B once you add asset-backed, specialty finance, corporate, and diversified. It's easy to miss because they're separated into four categories in this chart.
That credit book is the market we just opened a regulated issuance path for in El Salvador. The first issuance, currently in structuring, is a tokenized GPU forward to finance compute infrastructure.
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A high-end GPU can sit 4 to 8 months between the day you pay for it and the day it's racked and earning. Expensive hardware, worth nothing to you the whole time.
Earlier this month we opened a regulated pipeline in El Salvador to finance that gap. First deal: a tokenized GPU forward, issued below face, climbing to par over the wait, then paid from lease income once the hardware is live.
The part we care about most: it's built to trade, and with enough depth, to be posted as collateral to mint USDf.
Tokenizing an asset proves it exists onchain. Getting it accepted as collateral is what makes it useful. That second step is the harder one, and it's the one we're focused on.
Earlier this month we opened a regulated pipeline in El Salvador to finance that gap. First deal: a tokenized GPU forward, issued below face, climbing to par over the wait, then paid from lease income once the hardware is live.
The part we care about most: it's built to trade, and with enough depth, to be posted as collateral to mint USDf.
Tokenizing an asset proves it exists onchain. Getting it accepted as collateral is what makes it useful. That second step is the harder one, and it's the one we're focused on.
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"Demand was never the missing piece, perps proved the product offshore years ago. What changed is the legal wrapper."
Our Chief RWA Officer - Artem Tolkachev, in Forbes, on perps moving onshore.
Read more here 👉 https://www.forbes.com/sites/digital-assets/2026/08/27/how-perpetual-futures-could-make-more-assets-tradable/
Our Chief RWA Officer - Artem Tolkachev, in Forbes, on perps moving onshore.
Read more here 👉 https://www.forbes.com/sites/digital-assets/2026/08/27/how-perpetual-futures-could-make-more-assets-tradable/
Forbes
How Perpetual Futures Could Make More Assets Tradable
Perpetual futures are moving beyond crypto into stocks, commodities and private companies, making asset prices tradable without ownership.
If you want to understand how fast RWAs are moving, look at the holder count.
30 days ago:
1.1M addresses holding tokenized stocks
Today:
2.8M
That’s a 2.6x in a month.
30 days ago:
1.1M addresses holding tokenized stocks
Today:
2.8M
That’s a 2.6x in a month.
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Since Falcon Finance launched, we’ve kept building and shipping, giving users more ways to put their assets to work.
Here’s how our product suite has expanded just this year:
→ fUSD: A regulated digital dollar for institutional treasury, settlement, and collateral use. Issued by Anchorage Digital, the first federally chartered crypto bank, and supported by Ceffu’s custody infrastructure, fUSD gives qualifying institutions access to a separate Falcon rewards program targeting approximately 3% annually.
Details here: https://falcon.finance/news/falcon-finance-and-anchorage-digital-bank-launch-fusd-a-genius-ready-stablecoin-with-rewards-on-ceffu
→ RWA issuance in El Salvador: Our regulated tokenization pipeline starts with financing GPU delivery. The first asset, a tokenized GPU forward, is still being structured, with NEAR AI as the anchor buyer of the compute those GPUs will produce. It is designed for secondary trading and could later qualify as collateral to mint USDf once sufficient trading volume and market depth are established.
Find out more: https://falcon.finance/news/falcon-finance-opens-regulated-tokenization-pipeline-in-el-salvador-led-by-gpu-financing
→ Falcon Card: A way to turn USDf, our overcollateralized synthetic dollar, into everyday spending. Eligible, verified users in 90+ supported jurisdictions can fund their card with USDf, converted to USD at 1:1, and pay online or in-store. No annual subscription fee.
How to get your card: https://falcon.finance/news/from-tokenized-assets-to-everyday-spending-introducing-falcon-card
From USDf and yield to institutional dollars, everyday payments, and tokenization, we’re steadily expanding what Falcon can do.
Here’s how our product suite has expanded just this year:
→ fUSD: A regulated digital dollar for institutional treasury, settlement, and collateral use. Issued by Anchorage Digital, the first federally chartered crypto bank, and supported by Ceffu’s custody infrastructure, fUSD gives qualifying institutions access to a separate Falcon rewards program targeting approximately 3% annually.
Details here: https://falcon.finance/news/falcon-finance-and-anchorage-digital-bank-launch-fusd-a-genius-ready-stablecoin-with-rewards-on-ceffu
→ RWA issuance in El Salvador: Our regulated tokenization pipeline starts with financing GPU delivery. The first asset, a tokenized GPU forward, is still being structured, with NEAR AI as the anchor buyer of the compute those GPUs will produce. It is designed for secondary trading and could later qualify as collateral to mint USDf once sufficient trading volume and market depth are established.
Find out more: https://falcon.finance/news/falcon-finance-opens-regulated-tokenization-pipeline-in-el-salvador-led-by-gpu-financing
→ Falcon Card: A way to turn USDf, our overcollateralized synthetic dollar, into everyday spending. Eligible, verified users in 90+ supported jurisdictions can fund their card with USDf, converted to USD at 1:1, and pay online or in-store. No annual subscription fee.
How to get your card: https://falcon.finance/news/from-tokenized-assets-to-everyday-spending-introducing-falcon-card
From USDf and yield to institutional dollars, everyday payments, and tokenization, we’re steadily expanding what Falcon can do.
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Trading desks need dollars ready for settlement and collateral. With $fUSD, eligible institutions can also qualify for rewards targeting roughly 3% a year.
Issued by Anchorage Digital Bank, N.A., fUSD is designed to align with the GENIUS Act framework. Anchorage manages its reserves, backed by cash, short-term U.S. Treasuries, and Treasury-backed repo.
Through Ceffu’s MirrorRSV, desks can use fUSD as trading collateral while keeping it in institutional custody.
Rewards are offered separately by Falcon Finance under agreements with qualifying institutions. Anchorage does not pay yield or rewards on fUSD itself.
Participation is subject to eligibility, program terms, and applicable law.
👉 Learn more: https://fusd.falcon.finance/
Issued by Anchorage Digital Bank, N.A., fUSD is designed to align with the GENIUS Act framework. Anchorage manages its reserves, backed by cash, short-term U.S. Treasuries, and Treasury-backed repo.
Through Ceffu’s MirrorRSV, desks can use fUSD as trading collateral while keeping it in institutional custody.
Rewards are offered separately by Falcon Finance under agreements with qualifying institutions. Anchorage does not pay yield or rewards on fUSD itself.
Participation is subject to eligibility, program terms, and applicable law.
👉 Learn more: https://fusd.falcon.finance/
Falcon Finance
fUSD | Regulated Digital Dollar for Institutional Collateral
fUSD is a reserve-backed digital dollar for institutional collateral, treasury, and settlement use cases.
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