Today's Major Crypto Developments: RWA Forecast, Trade Talks, and NYC Mayor Race

The cryptocurrency and blockchain industry witnessed significant developments today across multiple sectors. Standard Chartered released bullish predictions for tokenized real-world assets, global leaders met to address trade tensions affecting crypto markets, and a pro-crypto political organization made its endorsement in the New York City mayoral race.

Standard Chartered Forecasts $2 Trillion Tokenized RWA Market by 2028

Investment banking giant Standard Chartered has released a comprehensive forecast predicting that tokenized real-world assets will reach a cumulative value of $2 trillion within the next three years. This projection suggests that RWAs will match the current size of the stablecoin market as global capital and payments increasingly migrate to more efficient blockchain infrastructure.

Decentralized Finance Challenges Traditional Financial Systems

According to a Thursday report shared with industry observers, Standard Chartered believes the trustless structure of decentralized finance is positioned to challenge the dominance of traditional financial systems controlled by centralized entities. The investment bank anticipates that DeFi's expanding role in payments and investments will drive significant growth in non-stablecoin tokenized RWAs.

Projected Market Distribution Across Asset Classes

The bank's detailed analysis breaks down the anticipated $2 trillion market capitalization across various asset categories. Money-market funds are expected to capture $750 billion of the total value, while tokenized US stocks will account for another $750 billion. Tokenized US funds are projected to reach $250 billion, with the remaining $250 billion flowing into less liquid segments including private equity, commodities, corporate debt, and tokenized real estate.

Exponential Growth From Current Valuations

Geoff Kendrick, Standard Chartered's global head of digital assets research, emphasized that stablecoin liquidity and DeFi banking serve as important prerequisites for rapid RWA expansion. The forecast implies an impressive 57-fold growth trajectory from the current $35 billion cumulative value of tokenized RWAs, with Kendrick stating expectations for exponential growth in the coming years.

US President Trump Meets Chinese Leader Xi Jinping in South Korea

US President Donald Trump and Chinese Communist Party leader Xi Jinping conducted a face-to-face bilateral meeting in South Korea aimed at stabilizing relations and resolving ongoing tariff tensions between the world's two largest economies.

Signs of Agreement Emerge Between Economic Superpowers

Before the meeting commenced, President Trump indicated positive momentum in negotiations, stating that the parties had already agreed to numerous points and would reach additional agreements during their discussion. Trump expressed optimism about establishing a fantastic relationship for an extended period, with a video of his remarks posted by The White House on Thursday.

Tariff Tensions Impact Cryptocurrency Markets

The implementation of tariffs since Trump's return to the White House, combined with China's retaliatory restrictions on rare earth element exports, has generated concerns about economic slowdown. Several severe tariff implementations have triggered notable crashes in the cryptocurrency market over recent months.

The October 10 market crash exemplified these concerns, with Bitcoin falling from $121,560 to below $103,000. The meeting between the two leaders has since concluded, according to official confirmations.

Pro-Crypto Organization Endorses Andrew Cuomo for NYC Mayor

Innovate NY, a political organization describing itself as pro-digital assets, has announced its endorsement of independent candidate and former New York State Governor Andrew Cuomo in the New York City mayoral race. The organization was funded with approximately $100,000 ahead of the election.

Digital Assets Platform Drives Endorsement Decision

In a Tuesday announcement, Innovate NY cited Cuomo's agenda focusing on blockchain, tokenization, public-benefit stablecoins, and artificial intelligence as key factors in their endorsement. The race is currently in the middle of early voting, with the election scheduled for November 4.

Campaign Finance Details and Opposition

The organization, registered as an independent spender with the New York City Campaign Finance Board, received its $99,500 in funding from six individuals through two companies. Expenditure records show Innovate NY spent $30,000 on promotional materials supporting Cuomo while opposing Democratic candidate Zohran Mamdani, who currently leads in many polls against the former governor.

Crypto Industry Focus on NYC Mayoral Race

The New York City mayoral race has attracted significant attention from the cryptocurrency industry due to potential impacts on companies operating in the United States' largest economic hub. Voters will choose between frontrunners Mamdani, Cuomo, and Republican candidate Curtis Sliwa.

Candidates' Approaches to Digital Assets

In the final weeks of his campaign, Cuomo has actively courted crypto-minded New York voters, pledging to establish an Innovation Council with advisory committees for cryptocurrency, artificial intelligence, and biotechnology if elected. Meanwhile, Mamdani has largely avoided making digital assets a central campaign issue, instead focusing on cost-of-living concerns including childcare and affordable housing.

Market Implications and Industry Outlook

These three developments highlight the cryptocurrency industry's continued evolution across regulatory, technological, and political dimensions. Standard Chartered's ambitious RWA forecast signals growing institutional confidence in blockchain-based financial products. The Trump-Xi meeting addresses macroeconomic factors that have significantly impacted crypto market volatility. The NYC mayoral race demonstrates how digital assets are becoming increasingly relevant in local politics and urban economic policy.

The convergence of these stories underscores the cryptocurrency sector's maturation as it intersects with traditional finance, international trade relations, and electoral politics. As tokenized assets gain traction, trade tensions stabilize, and crypto-friendly politicians seek office, the industry continues its transition from emerging technology to mainstream financial infrastructure.

For more Crypto, Web3, Blockchain & AI news visit : www.metamoonmedia.com