BlockBeats News, May 13th - Bitwise Chief Investment Officer Matt Hougan stated that recently, Circle's Arc, Canton Network, and Stripe-backed Tempo, three blockchains focusing on stablecoins and asset tokenization, have collectively raised over $1 billion, reflecting three structural changes occurring in the crypto industry. Hougan pointed out that first, institutional demand for on-chain privacy is rising. Arc, Canton, and Tempo all emphasize native transaction privacy, unlike Ethereum and Solana, which are publicly transparent by default. He believes that for corporate fund flows, salary payments, and other scenarios, fully public on-chain data could be a burden, so institutions are driving towards more privacy-focused blockchain infrastructure suitable for financial operations.

Second, he believes that the U.S. "GENIUS Act," passed in July 2025, has broken the regulatory deadlock that previously inhibited institutional financing, allowing institutional capital to rapidly enter the stablecoin and tokenization space. He stated that the next key catalyst in the current market is the "CLARITY Act," which, if passed, could further drive the development of tokenization and compliant financial infrastructure.

Furthermore, Hougan pointed out that traditional financial giants are accelerating their entry into on-chain infrastructure competition. For example, backers of Canton include institutions such as Goldman Sachs, Citadel, DTCC, and Nasdaq; Tempo has gained support from Stripe, Visa, OpenAI, and others; and Arc is driven by Circle, the issuer of USDC. However, he does not believe that traditional institutions will replace the native crypto ecosystem but rather states that new competition will raise industry standards as a whole and attract more capital into the blockchain and tokenization market.