💜 Solana The New RWA Hub?

RWA World Newsletter - July 26, 2024

Author

Ray Buckton
July 26, 2024

Tokenized assets are on every blockchain, but some chains have more than others. 📊

Solana is aiming for the top spot, with Agridex making its first settlements on the chain. 🌱

🎯🔥 Rapid Fire Takeaways:

But that’s not all for Solana – they just added the Libre tokenization gateway, giving users access to Hamilton Lane, Brevan Howard, and BlackRock funds. 👀

It looks like we’ll be using our Phantom wallets for more than just memecoins! 🎮

🌄RWA Day with RWA World!

Big news! RWA World is hosting a live event at Permissionless III! We’re gathering the brightest minds in RWA and tokenized assets for the hottest networking opportunities in the West. Tickets are limited, so secure your spot at RWA Day now! 🎫

Last Thursday, we had a phenomenal Space focused on tokenized insurance, featuring Infineo, Re, Qorra, Mattereum, and Meanwhile! It’s worth a listen. 🎧

Insurance is essential for adoption, so it’s no surprise that entities like Oxbridge Re and SurancePlus are working with Zoniqx on tokenized reinsurance. 🤝

We’ll have a Live Event on X called Green RWAs and the Potential of a $30 Trillion Market. Join us on Thursday at 2 pm EDT, and don’t forget about our ongoing Zealy campaign with Open Forest Protocol for your chance to win some $NEAR! 🌲

And wrapping up the week, we’ll host our weekly RWA World Roundup on Friday at 9:30 am EDT! This week, we’re talking with Superstate COO Reid Cuming about their new Carry Trade fund (USCC) and what it means for market participants. 🔥

🧠 Asset Tokenization and Innovation

There’s no shortage of innovation in tokenization. When that innovation has a heart, it makes all the difference. Our friends at Zivoe just raised $8.35 million to disrupt the predatory loan industry using DLT! Congratulations to the world-class team. 🎉

Other awesome innovations include SkyTrade, which is tokenizing air rights for consumers, and Ethena, whose RWA investment plan piqued the interest of none other than BlackRock. With this much movement, it’s little wonder that Bitrue Ventures kicked off a new $40 million fund for Web3. 💸

Plenty happening on the institutional front, too. Italy’s top banks are working on $25M of digital bond insurance on Polygon, and Berlin Hyp kicked off its tokenized real estate bond. Add in Moody’s joining Project Guardian for tokenization risk analysis and a cohort including StanChart and Animoca recently hopping into the HKMA’s new stablecoin sandbox, and we’re starting to see serious names dig in their heels on the future of asset issuance, insurance, and management. 🤖

Speaking of Hong Kong, the city-state just finalized consultation on its proposed regulatory regime for the aforementioned stablecoins, giving the initiative a nice dose of regulatory clarity. Compare that to the United States, where SAB121 has led to zero banks stepping up to custody the new Ether EFT. 

Hong Kong is also likely aware of the recent Financial Stability Board (FSB) report highlighting the risks of foreign currency-pegged stablecoins to emerging markets… not that they fall into that category. 💱

Where those stablecoins are also of great interest to the Basel Committee, which recently clarified in a report that it considers permissionless blockchains of particularly high risk. Given Polygon’s recent report on Web3 being the future of loyalty programs, one has to wonder how global jurisdictions will square this circle. 📐

👛 CBDCs and Digital Currency

One jurisdiction where risk is handled through rapid regulation is Europe, and Cboe Clear Europe just tested CBDC margin calls as part of the ECB DLT trials. And while permissionless blockchains are potentially frowned upon, self-hosted wallets might be fair game, with central bank provider Giesecke+Devrient (G+D) launching a recoverable version for CBDCs. 🏛️

And while Russia wants to speed up CBDCs, and Peru is awarding the first contracts for its pilot program, Thailand is focusing on the demand side of the equation. They’re airdropping over $13.8 billion in free e-money to citizens in an effort to stimulate the economy. While not the first to try helicopter money, it’s the latest in a sign of a new age in global monetary policy.  🆕

The same is happening on-chain. M^0 is a new stablecoin protocol that stands to challenge Tether and USDC for market dominance. How? By parsing the yield they generate from holdings back to institutional depositors who use the stablecoin. While major crypto exchanges like Binance, OKX, and Deribit recently confederated to back the Ether- and perp-backed Ethena stablecoin, M^0 is more of a classic approach with a slight twist. 🥨

🏄 Good Week, Great Future

It’s always a pleasure to deliver you the best of what tokenization has to offer. 

Things keep heating up, and we are 110% here for it. 

If you enjoyed this week’s newsletter and have any questions, comments, suggestions, concerns, or want to learn how to attend or sponsor RWA Day, reply to this email and we’ll be in touch! 🤝