Institutional capital, tokenized credit, and onchain yield infrastructure A few ecosystem developments worth catching up on this week ↓ 🏦 RealFi / Capital Markets @R25Official and AXIL brought tokenized consumer credit onchain through the Consumer Credit Vault (rcPC), offering diversified private credit exposure via structured USDC vaults @OpenZeppelin introduced its ERC-7540 implementation, extending tokenized vault standards to support real-world settlement timelines, compliance workflows, and asynchronous capital flows—an important step for bringing institutional assets onchain ⚡ Infrastructure & Security @chainlink expanded its role in tokenized asset infrastructure as @PleasingMarket adopted CCIP as its exclusive cross-chain framework across Ethereum, Arbitrum, Pharos, and future networks, alongside Chainlink Data Streams for real-time RWA pricing @FordefiHQ continued enhancing its infrastructure stack with support for Upshift's first Stellar vault deployment and new real-time audit log streaming capabilities for treasury and security teams 🌐 Yield & Liquidity @zona_io expanded lending opportunities across the ecosystem with direct PROS deposits now available on ZonaLend, removing the need for wrapping while opening access to lending yields; The platform also activated points incentives for USDC suppliers as lending liquidity and capital efficiency continue to grow across Pharos-based applications. 🏛 Institutional Adoption @Anchorage further expanded its collaboration with Ethena through Atlas Collateral Management, strengthening the institutional infrastructure supporting issuance, custody, and collateralized lending workflows 💙 Across the ecosystem, teams continued building the foundations for programmable capital markets, from tokenized credit and compliant asset standards to institutional custody, interoperability, and onchain yield distribution ⚓

THIS WEEK: $1.1B in value upgrades to CCIP ↓ • @virtuals_io: VIRTUAL • @SaharaAI: SAHARA • @ZestProtocol: ZEST • @PleasingMarket: PGOLD & USDpm ⬡ LINK everything ⬡

NOW: Top tokenized commodities platform @PleasingMarket deprecates legacy bridge & migrates to Chainlink CCIP to unlock distribution of tokenized precious metals. Pleasing Market chose CCIP as its exclusive cross-chain infra to access the highest level of security.

In May, the programmable economy kept accelerating across payments, stablecoins, asset tokenization and financial markets. - Arbitrum reached 10M stablecoin holders - Arbitrum became the busiest @USDT0_to L2 route by volume with $6.4B moved across 30,947 transactions - @CashApp enabled send and receive USDC payments on Arbitrum - @Ostium integrated @Nasdaq market data to power onchain stock perpetuals - @variational_io raised $50M to aggregate RWA liquidity through RFQ infrastructure - @Spiko_finance's EU T-Bill fund grew 5.5x to more than $374M - @USDai_Official reached $3.6M in 365-day revenue with 297% monthly revenue growth - @PleasingMarket's PGOLD surpassed $92M on Arbitrum in tokenized gold backed by real reserves TL;DR: Finance is moving onchain and becoming software. Arbitrum is the finance native platform powering the programmable economy.

The tokenized commodities market is at $7.16B today, five times what it was 15 months ago ➥ Global physical gold ETFs held $669B in AUM at the January peak. The tokenized layer equals just over 1% of that. For every $100 sitting in a traditional gold ETF, $1 lives onchain. ➥ Paxos holds 59.53% and Tether 36.59%. Two issuers together control 96% of the market. ➥ Spot volume for tokenized gold in Q1 2026 came in at $90.7B, above the $84.6B traded across all of 2025. ➥ Holders grew 7.08% and active addresses grew 7% in the last 30 days, even with spot gold in correction Around 235,000 holders in the segment today. The global crypto market has over 560 million active wallets. Fewer than 0.05% of crypto users have touched a gold token so far. We're barely getting started

A huge thank you to all our amazing partners — @PleasingMarket, @krakenfx, @b__harvest, @LECCAVentures, @coinness_kr, @1XP_Inc, @Coiniseasy, @FourPillarsFP, @CapSummitGlobal and @tokenpost — for making the Pharos Mainnet Celebration Party in Seoul a success! 🎉 Congrats to the lucky winners who took home the golden cards from Pleasing Market! ✨ Here’s to more milestones ahead!

10 gold gift cards will be given out during the Pharos Mainnet Celebration Party. Make sure you create Pharos content & submit on Luma when registering for the event.

Top TVL on Arbitrum just dropped 👇 @aave | @Spiko_finance | @USDai_Official | @Uniswap | @GMX_IO | @pendle_fi | @sparkdotfi | @0xfluid | @PleasingMarket | @PancakeSwap Which one are you watching? 👀

More gold is coming onchain via @PleasingMarket PGOLD, a digital gold asset backed by real reserves, with $92M tokenized. As metal markets become programmable, they need predictable execution and deep liquidity from platforms like Arbitrum to grow.

Pleasing Market is now bringing 22,000 oz of gold to @pharos_network. On day 1 of Pharos launch, anyone can: → Trade LBMA gold with zero slippage, powered by @chainlink Data Streams → Generate passive yield on gold holdings Gold is now part of RealFi.