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
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- 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
