Author: Nancy, PANews
As traditional financial giants increasingly "join the team" and policy regulations become clearer, the RWA track is accelerating into the mainstream view. Asset tokenization, once explored by a small circle, is now becoming a bridgehead for compliant innovation. Recently, a new wave of "compliance + imagination" has quietly emerged on-chain, with multiple RWA-labeled projects attracting market attention.
PANews has compiled the seven most active on-chain new forces under the RWA narrative, covering Base, BNB Chain, and Solana ecosystems. Most projects are comprehensively evolving across dimensions such as application implementation, compliance practices, and ecosystem linkage, balancing narrative imagination and practical landing.
Keeta (KTA)
Keeta (KTA) is a Layer1 network based on the Base network, connecting the global financial system. It features built-in KYC real-name authentication, digital identity, on-chain foreign exchange (FX) mechanism, and flexible rule engine. The official claims it is the first blockchain network that can truly support compliant financial transactions globally. Keeta previously received a $17 million investment from former Google CEO Eric Schmidt, valuing the investment at $75 million. CEO Ty Schenk was previously a partner at investment firm Steel Perlot and CEO of LFG Payments.
GMGN data shows that as of May 26, KTA's market cap recently peaked at over $910 million, with over 73,000 token holder addresses.
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BUILDon (B)
BUILDon (B) is a popular MEME coin deployed on BNB Chain and the primary trading medium for USD1, a stablecoin endorsed by the Trump family. GMGN data shows that as of June 26, $B's market cap once broke through $460 million, hitting an all-time high, with over 25,000 token holder addresses.
According to the latest data from defillama and CoinMarketCap, as of May 26, 98.88% of USD1's circulation is concentrated on BNB Chain. In the past 24 hours, the B/USD1 trading pair's volume exceeded $190 million, accounting for 69.06% of all $B-related trading pairs, demonstrating $B's core position in the USD1 ecosystem.
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Moreover, $B has received support from major exchange Binance, having been listed on Binance's Alpha platform and futures trading section. Binance also announced zero-fee withdrawals for USD1 via BNB Chain, which will further stimulate trading activity for $B and other USD1 ecosystem projects. Notably, the Trump family's crypto project WLFI has recently officially purchased $B, marking their first MEME coin investment.
On the policy front, the US GENIUS stablecoin bill has recently passed the Senate vote, awaiting final approval from the House of Representatives and President Trump. Once legislated, it will establish a compliant foundation for the stablecoin market with far-reaching impacts. Citing a Citibank report, The Block predicts stablecoin market cap could reach $1.6 trillion in a baseline scenario and $3.7 trillion in an optimistic scenario by 2030. With a regulatory framework in place, stablecoin issuers may become one of the largest US Treasury holders. For emerging stablecoins like USD1, compliance and ecosystem integration will unlock greater potential, offering more imagination for its primary trading medium $B.
ALLO (RWA)
ALLO (RWA) aims to build the world's first tokenized securities exchange, offering 24/7 trading, ultra-low fees, and instant settlement. It has received support from NGC Ventures, Morningstar Ventures, and Gate. According to official disclosure, Allo has achieved $2.2 billion in RWA tokenization, staked $50 million in Bitcoin, and launched a $100 million lending pool. Last year, ALLO was selected for BNB Chain MVB8 acceleration program, and its token $RWA recently landed on Binance Alpha.
GMGN data shows that as of May 26, $RWA's market cap recently broke through $200 million, with over 12,000 token holder addresses.
Collaterize (COLLAT)
Collaterize is building an internet capital market on the Solana network, dedicated to creating the largest RWA asset pool, enabling access, trading, and management of all tokenized assets. The $COLLAT token aims to bring more individuals into the RWA tokenization process, allowing users to easily access on-chain real assets. Collaterize co-founder Pierre previously worked at Microsoft and IOTA. Recently, Collaterize has received multiple interactions from Solana official channels and co-founder Toly.
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GMGN data shows that as of May 26, $COLLAT's market cap has surged significantly since May, peaking at over $91 million, with over 13,000 token holder addresses.
Paraverse (PVS)
Paraverse (PVS) includes decentralized cloud rendering ParaLab for XR and 3D assets, and Web3 trading platform ParaHere. Its utility token PVS is the core tool for ecosystem payments, rewards, and governance. Users can access high-performance cloud rendering services and earn staking rewards by holding PVS. The token was officially launched on Solana in March. According to official disclosure, Paraverse has attracted over 1,000 enterprise partners and 10,000+ independent developers globally since 2016, with applications spanning digital twins, education, medical rehabilitation, and virtual live streaming.
GMGN data shows that as of May 26, PVS market cap has exceeded $18 million, with over 7,600 token holder addresses.
GitFish (Linux)
GitFish is an innovative platform on Solana, aiming to tokenize and trade GitHub code repositories, allowing users to convert GitHub repositories into tradable tokens. Repository owners can earn fees (such as swap fees). GitFish was incubated by Alliance DAO and received support from Solana, Raydium, and Helius. GitFish's first project $Linux presale ended in three days, attracting around $7.5 million in funding. However, Linux creator Linus Torvalds has recently responded that he is not involved in any GitFish activities.
GMGN data shows that as of May 27, $Linux has been declining since opening, with a current market cap of around $10 million, nearly halving from its private sale price of $2.3.
Convergent (CVGT)
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According to official introduction, Convergent (CVGT) is an LSDFi protocol built on Solana, supported by Jito and Pyth Network. The protocol allows users to mint stablecoin USV by over-collateralizing SOL, with a 0% interest rate. The protocol stakes users' SOL to Jito, enabling continuous staking rewards and income while users hold $USV. The minted $USV can be used in Solana's DeFi applications. $CVGT is Convergent's governance token, and holders can earn protocol revenue and vote on protocol parameters (such as emissions, fees, and collateralization rates). Convergent claims to have no presale, VC rounds, or seed unlocks.
GMGN data shows that as of May 26, CVGT's market cap recently peaked at over $7 million, with over 2,500 token holder addresses.
