Overview

This report focuses on blockchain industry developments from March 10-14, 2025. Sui’s on-chain stablecoin market cap has surpassed $600M, reaching an all-time high; Anzen Finance protocol’s TVL has exceeded $112M, also hitting a record high; Movement has submitted a MOVE ETF application while its mainnet beta launch drives ecosystem growth; Ordinals EVM extension protocol Veda’s TVL has exceeded $2B; Securitize partners with RedStone to enhance RWA data support, advancing on-chain financial development; and Ripple obtains Dubai license, expanding crypto payment services into the Middle East.

Projects

Sui’s On-Chain Stablecoin Market Cap Surpasses $600M, Reaching All-Time High

Sui’s on-chain stablecoin market cap has reached $648 million, marking a new all-time high. As a high-performance Layer 1 blockchain, Sui aims to provide high throughput and low-latency transaction experiences.

Recently, the Sui Foundation announced a strategic partnership with World Liberty Finance (WLFI) to build a more open and transparent financial ecosystem. Under the partnership agreement, WLFI will include SUI tokens in its strategic token reserves to support Web3 project development. Additionally, WLFI and Sui have begun exploring product development collaborations to launch more innovative DeFi products in the future.[1]

These developments indicate that the Sui ecosystem is rapidly growing and expanding, with increasing potential in both stablecoin and DeFi sectors. The partnership with WLFI will further drive Sui’s development and bring more value to users.

Anzen Finance Protocol’s TVL Exceeds $112M, Setting New Record

Anzen Finance protocol’s Total Value Locked (TVL) has surpassed $112 million, with a 10.45% increase on March 11, marking a new all-time high. Anzen Finance is a decentralized lending platform that enhances stability in the DeFi sector and expands stablecoin use cases. Users can lend through the platform to earn yields backed by real-world assets (RWA). Loans are collateralized by secure, tangible assets with appreciation potential, providing lenders with predictable revenue streams linked to RWA performance.

Recently, with the advancement of U.S. cryptocurrency regulations and the EU’s MiCA framework, Real World Asset financialization (RWAfi) has gained momentum. Anzen Finance has partnered with projects like Pendle to provide stable staking yields for other ecosystems, offering users a 12% APY through USDz staking, with steadily growing returns. Additionally, Anzen Finance will announce its joining of the Superstate Industrial Council (SIC) on March 12, collaborating with Superstate and 20 other industry leaders to drive innovation and promote tokenization in financial markets, which will further boost its TVL growth. This growth trend reflects the accelerating institutional demand for yield-bearing assets that combine RWA with DeFi. [2]

Movement Submits MOVE ETF Application, Mainnet Beta Launch Drives Ecosystem Growth

Movement Foundation has announced that REX-Osprey™ has submitted a MOVE ETF application. REX-Osprey™—a fund series jointly launched by REX Shares and Osprey Funds—aims to provide investors innovative exchange-traded products (ETPs). If approved, this will be the first fund to expose Movement assets through traditional financial channels. The initiative reduces investment barriers by enabling investors to access Movement through their brokerage accounts and retirement tools, eliminating the need to manage complex tokens. This approach should attract more traditional capital into the ecosystem.

Meanwhile, Movement’s public mainnet beta has officially launched, achieving a Total Value Locked (TVL) of $250 million at launch through the Cornucopia program. This demonstrates the project’s technical maturity and practical application capabilities and strengthens market confidence through high TVL, laying a solid foundation for ecosystem development. With the advancement of the ETF application, mainnet Beta release, and accelerating capital inflow, the Movement ecosystem is experiencing wider adoption and stronger market competitiveness. [3]

Ordinals EVM Extension Protocol Veda’s TVL Exceeds $2 Billion

Veda’s Total Value Locked (TVL) has reached $2.22 billion. The protocol has seen remarkable growth recently, with TVL increasing from $560 million to $2.22 billion.

Veda is an infrastructure platform that provides native yields for protocols and applications. Users can deposit assets into Veda, safely deploying these funds across various DeFi protocols to generate yields. Veda aims to drive mass crypto adoption through transparent and accessible yields. The recent surge in TVL is primarily attributed to its collaboration with BOB (a hybrid L2 platform combining Bitcoin’s security with Ethereum’s smart contracts) to launch Hybrid BTC vaults. This project enables users to earn Ethereum-based yields on their Bitcoin through the BOB network, with returns paid out in BTC. Through this cross-chain yield mechanism, Veda has created new revenue streams for users and established new growth drivers for itself. The project has successfully attracted substantial capital inflows through its innovative technical architecture, streamlined operations, and recognition from industry authorities, driving TVL growth and further solidifying its market position.[4]

Securitize Partners with RedStone to Enhance RWA Data Support, Advancing On-Chain Financial Development

Securitize has announced a partnership with blockchain oracle provider RedStone to deliver accurate price data support for its tokenized real-world assets (RWA) products, boosting RWA product growth. This collaboration will support several core products, including BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and Apollo Diversified Credit Securitize Fund (ACRED).

Securitize and its subsidiaries hold SEC registration qualifications and are committed to advancing global asset tokenization through partnerships with top asset management institutions like Apollo and BlackRock.

The partnership with RedStone aims to effectively enhance the liquidity and transparency of tokenized assets, further promoting the widespread adoption of real-world assets (RWA) in decentralized finance (DeFi). This collaboration strengthens Securitize’s leadership position in the RWA sector, enhances platform reliability and market competitiveness, and signals the growing maturity of traditional financial asset tokenization. For RedStone, this partnership significantly expands its influence in the RWA space. [5]

Ripple Obtains Dubai License, Expanding Crypto Payment Services to Middle East Market

Recently, Ripple received a license from Dubai’s regulatory authorities to provide cryptocurrency payment services in the UAE. This move signifies Ripple’s active expansion into the Middle East market and demonstrates recognition from local regulators. The license not only enables Ripple to operate its crypto payment business legally but also provides strong support for expanding its use cases globally. This development indicates Dubai’s open regulatory environment towards crypto payments and shows the gradual formation of a standardized regulatory framework.

This initiative is expected to boost crypto asset liquidity across the region while attracting more financial institutions and enterprises to explore blockchain technology applications in payments and settlements. This development creates expansion opportunities for Ripple and sets a precedent for other cryptocurrency companies. As UAE and other Middle Eastern countries continue to refine their regulatory measures, the market will welcome more innovative financial products, and this license undoubtedly sets a positive signal for the global crypto payment market. Overall, Ripple’s license will help enhance the legitimacy and security of blockchain payment technology, promoting deeper integration between digital assets and traditional finance. [6]

Notice
Users should exercise caution when participating, be mindful of risks, and conduct thorough research before involvement. Gate.io does not guarantee the future development of projects.


References：

1. Defillama,https://defillama.com/chain/Sui?stables=true&tvl=false&groupBy=cumulative
2. DefiLlama,https://defillama.com/protocol/anzen-finance
3. SEC,https://www.sec.gov/Archives/edgar/data/1771146/000199937125002521/rexosprey-485apos_031025.htm#ospreymove485aposa001
4. Defillama,https://defillama.com/protocol/veda?usdInflows=false&twitter=false&tvl=true
5. X,https://x.com/redstone_defi/status/1899808770739568901
6. Coindesk,https://www.coindesk.com/markets/2025/03/13/ripple-bags-dubai-license-to-offer-crypto-payments-in-uae

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Disclaimer
Investing in the cryptocurrency market involves high risk, and it is recommended that users conduct independent research and fully understand the nature of the assets and products they purchase before making any investment decisions. Gate.io is not responsible for any losses or damages caused by such investment decisions.