Dusk Trade waitlist is now open.
Our regulated RWA trading platform, built with NPEX, a licensed exchange with β¬300M AUM, bringing tokenized assets and funds on-chain.
Sign up for a chance to win up to $500 in RWAs π
ESMA has released its Annual Report for 2025.
The report focuses on stronger supervision, regulatory simplification, and innovation across EU capital markets, framed around Savings and Investments Union discussions, market uncertainty, and new supervisory mandates.
Key points from the report:
1. Supervision and new mandates
ESMA highlights work on MiCA, DORA, EMIR 3, European Green Bonds, ESG Rating Regulation, and third-country CCP recognition.
2. MiCA and crypto-asset supervision
The report covers CASP authorisation work, supervisory convergence, technical standards and guidelines, and tools for monitoring crypto markets using onchain and offchain data.
3. Simplification and reporting
ESMA describes burden-reduction work across transaction reporting, AIFMD and UCITS fund reporting, retail investor access, and risk-based supervision.
4. Market structure
The report covers consolidated tape provider selection under MiFIR and the EU's work toward a T+1 settlement cycle.
5. Innovation and digital resilience
ESMA also covers DLT Pilot Regime work, AI monitoring, DeFi analysis, DORA oversight, and cyber resilience.
Read the full report in the comments.
Regulated financial flows need more than tokens to come onchain.
Balances, transfers and eligibility checks should not be public by default.
Dusk keeps sensitive data private while selective disclosure lets approved parties verify what the rules require.
Regulated financial flows need more than tokens to come onchain.
Balances, transfers and eligibility checks should not be public by default.
Dusk keeps sensitive data private while selective disclosure lets approved parties verify what the rules require.
Tokenizing an RWA is more than bringing the asset onchain.
A tokenized security still needs investor eligibility, transfer restrictions, reporting obligations, and controlled disclosure.
Who can buy.
Who can hold.
Who can transfer.
What must be reported.
Who can review specific information.
Those requirements are part of the financial product. They do not disappear when the asset is tokenized.
If every transfer exposes positions, balances, counterparties, eligibility checks, and review activity, it leaves a public trail of sensitive financial information.
Regulated markets need confidentiality, so balances, positions, and transfers are not exposed to everyone.
They need compliance logic inside the product, so eligibility and transfer conditions can be enforced.
They need controlled review, so issuers, venues, auditors, and regulators can access specific information when disclosure is required.
Dusk addresses this through a modular stack for programmable privacy, privacy-preserving smart contracts, selective disclosure, compliance-aware asset rules, and deterministic settlement.
That is the infrastructure regulated finance needs for tokenized securities to come onchain.
@Team_Blokpoint The key is selective disclosure. Users can disclose specific data to authorized parties, like eligibility or compliance status, while keeping the rest of their sensitive data private.
Tokenizing an RWA is more than bringing the asset onchain.
A tokenized security still needs investor eligibility, transfer restrictions, reporting obligations, and controlled disclosure.
Who can buy.
Who can hold.
Who can transfer.
What must be reported.
Who can review specific information.
Those requirements are part of the financial product. They do not disappear when the asset is tokenized.
If every transfer exposes positions, balances, counterparties, eligibility checks, and review activity, it leaves a public trail of sensitive financial information.
Regulated markets need confidentiality, so balances, positions, and transfers are not exposed to everyone.
They need compliance logic inside the product, so eligibility and transfer conditions can be enforced.
They need controlled review, so issuers, venues, auditors, and regulators can access specific information when disclosure is required.
Dusk addresses this through a modular stack for programmable privacy, privacy-preserving smart contracts, selective disclosure, compliance-aware asset rules, and deterministic settlement.
That is the infrastructure regulated finance needs for tokenized securities to come onchain.
Dusk Wallet is now live in Chrome & Firefox!
Want to try it on testnet? I've updated and redeployed Dario so you can test on-chain interactions with Dusk Wallet and Dusk Connect.
Try it here: https://t.co/Q79SfDk9Yn
π₯§ Excited to support the new Dusk Wallet Extension on Pieswap.
Try it here: https://t.co/af7f6OVHEi
Connect your Dusk Wallet and start testing swaps with DUSK and DRC-20 tokens.
Dusk Wallet comes to your browser.
Extensions are now live on Chrome and Firefox, giving users a familiar wallet flow for Dusk.
Try it, share feedback, and leave a review β
The Web Wallet and Explorer have a new look.
Cleaner interfaces, smoother navigation, and a more polished experience across two of the core Dusk tools.
Try them below β
Tokenized securities need more than a wrapper.
They need issuer controls, investor access, privacy, disclosure, and settlement designed around regulated market workflows.
The Dusk and NPEX partnership focuses on that layer of regulated-market infrastructure.
Read more β
Programmable privacy matters because tokenized assets carry sensitive information.
A tokenized bond, fund, equity, or real-world asset has more going on than a balance moving between two addresses.
Before someone can buy, hold, transfer, settle, or report on that asset, the system may need to check:
- who the investor is
- whether they are eligible
- what rules apply to the asset
- what the issuer needs to know
- what a venue is allowed to process
- what information can be shown when review is required
On a fully public chain, too much of that can become visible to everyone.
Investor balances.
Transfer history.
Position data.
Issuer information.
Trading permissions.
Review activity.
That is a problem for regulated finance.
Programmable privacy lets financial apps enforce rules without exposing every detail in public.
For issuers, asset rules, access conditions, corporate actions, and disclosure requirements can be part of the asset logic.
For investors, balances, transfers, and positions do not need to be broadcast to the entire internet.
For venues and institutions, permissions, settlement, and review can happen without exposing the full operating picture.
For builders, privacy covers the rules, the data, and the user experience, not only the address holding the token.
Dusk handles this across three parts:
DuskDS provides settlement and data availability, with deterministic finality and native models for confidential and transparent transactions.
DuskEVM is the EVM-compatible path for financial applications, with $DUSK as the native gas token, and privacy using our EVM privacy-module Hedger.
DuskVM gives native Dusk contracts a Rust/WASM path for privacy-aware logic built directly for DuskDS.
Private transfers protect transaction data.
Private smart contracts can protect the rules and data inside the financial product.
For RWA tokenization, that is the difference between putting an asset onchain and making regulated finance work onchain.
Staking APR is variable.
It changes with network rewards, active stake, pool activity, deposits and withdrawals, and any active campaign incentives.
Check the live Sozu dashboard before staking.
Holding $DUSK and not staking yet?
Sozu, our partner, is currently showing 29.08% APR, boosted by its June airdrop campaign.
If you've been waiting to stake, this is a good moment to check out Sozu.
This puts into perspective how early tokenization still is. The market opportunity is enormous.
And beyond tokenizing existing assets, there is an even bigger opportunity, namely making capital markets more efficient for companies raising capital and investors deploying it.
During the review we did flag a separate low-level concern in Phoenix, but after tracing the full transaction path it turned out not to be exploitable.
We added extra regression test coverage so it cannot become an issue in the future.
After the Zcash Orchard disclosure affecting $ZEC, Dusk ran a precautionary review.
Orchard uses Halo2 and Dusk uses its own PLONK implementation. We reviewed that proof-system risk class anyway and found no overlap.
We did not identify this class of issue on the Dusk network.