Injective has activated its IIP-677 mainnet upgrade to version 1.20.3, headlined by Injective Mint, a platform for issuing tokenized stocks and bonds built to satisfy SEC rules.
The upgrade went live on the Injective mainnet on July 29, 2026, after token holders approved it with a 72% governance vote, reportedly. Its centerpiece, Injective Mint, is a compliance-first tool that lets issuers create tokenized equities and bonds under the US securities regulator’s framework. The compliance posture rests on an SEC Transfer Agent filing and a MiCA compliance whitepaper, meaning the platform is targeting both the US and the EU’s Markets in Crypto-Assets regime at once.
A filing is not an approval. No regulator has signed off on Injective Mint, and which issuers or assets will actually use it, and in which jurisdictions, has not been announced.
Injective says the chain has cleared over $6.8 billion in cumulative real-world-asset trading volume as of mid-2026, with about $1.1 billion in tokenized asset value represented on the platform. Those are the company’s own figures, not independently verified, and are date-stamped here because they move.
The upgrade also touches the network itself. IIP-677 boosts cross-chain interoperability, reduces block times, and optimizes staking mechanics for INJ, the native token that pays gas, earns staking rewards, carries governance votes and feeds a monthly buyback-and-burn that shrinks circulating supply.
IIP-677 is the second beat in a fast RWA roadmap. In June, Injective’s Vulcan upgrade cut transaction fees, added canonical USDC, native Circle-issued stablecoin rather than a bridged version, and launched RWA-specific trading markets. Few Layer 1s make regulated securities issuance an explicit design goal; Injective has now put that posture directly into its mainnet.
