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
Hot Take: Tokenized RWAs are gaining traction in the financial world, with acquisitions, defaults, and proposals for expansion. The space is seeing potential consolidations and increased interest from traditional finance players. However, collaborations with controversial entities like oil companies raise questions and concerns within the crypto community.
Cora Skindell is a standout figure in the world of cryptocurrency analysis, research, and editorial expertise. As a seasoned crypto analyst and researcher, Cora’s insights delve deep into the complexities of digital assets, resonating with a diverse audience. Her ability to dissect intricate crypto concepts is complemented by her adept editorial skills, enabling her to distill complex information into easily understandable content.