October’s AMA brought the IXS community up to speed on what’s moving across the Bitcoin and real-world asset (RWA) landscape. From Token2049 insights to BTC Real Yield launch status and how institutional capital is engaging with tokenized assets.
In case you missed it, watch the recording below.
Below are the key takeaways from IXS October Monthly AMA.
Julian Kwan, IXS CEO, opened with reflections on Token2049 in Singapore - one of the largest crypto gatherings globally with an estimated over 40,000 participants. His key takeaway: RWA was a high-priority topic, especially among traditional financial players and fintechs now actively exploring how to bring tokenized assets to their audiences.
Across meetings with custodians, exchanges, and venture groups, a consistent question emerged: how can RWA create compliant, revenue-generating opportunities for large-scale platforms?
"You need three things to bring RWA to market: tech, licenses, or both. Most groups have neither. That’s where we come in." – Julian Kwan
The BTC Real Yield product is entering its final legal and operational stages. After months of development across investment contracts, triparty agreements, and custodial integrations, IXS expects to onboard BTC holders within the month.
Initial focus is institutional and partnerships spanning custodians, wrapped Bitcoin protocols, and BTC-Fi networks. Conversations are underway with digital asset treasuries and BTC layer-2 builders aiming to bridge DeFi-native and real yield layers.
"BTC-Fi players want to differentiate. Adding regulated yield products on top of their wrapped BTC infrastructure does that and we’re ready to serve it." - Julian Kwan.
For a full breakdown of Bitcoin Finance (BTCFi) for institutions, read our panel recap: BTCFi Now - Bitcoin’s Programmable Era & Institutional Yield.
One key update centered on total value locked (TVL). While DeFi aggregators currently list IXS’s on-chain TVL in the hundreds of thousands, the team confirmed that ~$80M - $100M in deals have been facilitated on its business. This reflects an industry-wide challenge: current aggregator models often fail to account for real-world, off-chain asset flows that underpin RWA markets.
As Julian Kwan noted during the AMA, this disconnect distorts perceived market traction and affects nearly all RWA protocols. IXS is now working to publish a more accurate breakdown of TVL across BTC and RWA pipelines, while engaging with data platforms to help align reporting standards.
Read Julian’s commentary on the TVL gap for more details.
Marketing updates focused on strengthening liquidity and broadening reach. The Line integration is progressing with a clearer product-market fit approach tailored to its user base. On a broader level, IXS is aligning its visibility strategy toward U.S. retail and institutional audiences, with upcoming partnerships and programs aimed at expanding reach.
Market makers are being onboarded to enhance liquidity and trading depth. Additionally, infrastructure improvements are in progress for the DEX pools to further support stable and efficient trading. Efforts continue to improve overall trading stability through ongoing market maker coordination.
As Julian closed the session, he clarified a key point for the community:
"We are focused on building the RWA ecosystem. We expanded the model. BTC Yield brings another buy channel for our products and TVL growth. There's a sharp increase in the inbound inquiries coming from much larger organizations from all asset classes. We’re focused on delivering both volume and value."
With multiple initiatives converging - infrastructure maturity, BTC integration, RWA partnerships, and expanded liquidity - IXS enters Q4 with a clear objective: deepen utility, expand access, and continue building infrastructure that serves institutional-grade yield.
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