A Weekly Digest of Tokenized RWAs
Securitize Acquires Onramp to Expand RIA Services
– Asset tokenization firm Securitize has acquired digital asset wealth platform Onramp Invest
– The acquisition will enable registered investment advisors (RIAs) to help clients buy tokenized assets
– Securitize specializes in alternative asset classes such as private equity and real estate
– This deal may indicate a wave of consolidations in the real-world asset space
Goldfinch Faces Default on $5M Loan
– Goldfinch, a DeFi investment protocol, has experienced a default on a $5 million loan
– The borrower, Tugende, violated the loan agreement by making an unauthorized loan to a subsidiary
– Goldfinch is working to restructure the loan terms to recover some capital
– If the loan is written off, liquidity providers could see their expected payouts drop to 2%
– Loan experts suggest that Goldfinch’s loans may be underpriced relative to the risk involved
Frax Founder Proposes Expansion Into Real-World Assets
– Frax stablecoin founder Sam Kazemian proposes using a U.S. shell company called FinresPBC
– The shell company would allow Frax Protocol to custody cash deposits and traditional financial instruments
– This proposal aims to differentiate FRAX from other stablecoins and increase efficiency
– The proposal is still pending a vote, but it demonstrates the growing interconnections between DeFi and the real world
Maker’s 8% Stablecoin Yields Re-spark DeFi
– MakerDAO attracted significant investments after increasing the DAI Savings Rate to 8%
– The increased yields would be funded by Maker’s revenues, including real-world assets like U.S. Treasuries
– This strategy resembles a bank increasing interest on savings accounts
– The plan faced some controversy but ultimately garnered strong investor interest
Republic’s New Multi-Chain Wallet for Tokenized Assets
– Republic, a retail investment platform, is building a multi-chain wallet for tokenized securities
– The wallet aims to increase access and opportunities for investing in private assets
– Blockchains can solve the problems of opacity, illiquidity, and inaccessibility in traditional asset investing
– Republic’s purpose-built wallet is designed to accommodate the future of tokenized assets
Gitcoin’s Collaboration With Shell Angers Crypto Community
– Gitcoin announced a collaboration with oil giant Shell to develop open-source climate solutions
– Shell will contribute up to $500,000 to Gitcoin fundraising rounds and a blockchain hackathon
– Some accuse Gitcoin of “greenwashing” for accepting money from a known polluter
– The collaboration could bring much-needed capital to the regenerative finance movement
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