Crypto for Advisors: Digital Asset Custody’s Future
Once they reach a certain level of sophistication, there’s a clear trend for Web3 asset holders to transition their digital asset wealth to self-custody.
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Real World Assets
Once they reach a certain level of sophistication, there’s a clear trend for Web3 asset holders to transition their digital asset wealth to self-custody.
Private credit has been at the forefront of crypto’s asset tokenization trend with over $600 million outstanding on-chain assets.
Ironlight, helmed by the former global head of trading of Schroeder and Abu Dhabi’s sovereign wealth fund ADIA with the ex-CEO of TD Bank as an adviser, aims to be a premier tokenization, listing and trading ecosystem for real-world assets targeting big investors.
BlackRock’s first tokenized offering, created with Securitize, has captured almost 30% of the $1.3 billion tokenized Treasury market in just six weeks.
The feature helps to expand the utility of the Franklin OnChain U.S. Government Money Fund’s BENJI token and make it more interconnected with the digital asset ecosystem.
On-chain real-world assets and the integration of wallet infrastructure will replace intermediaries and become standard in the modern asset management lifecycle, says Mehdi Brahimi, head of institutional business at L1.
Introducing Ondo Finance’s offerings to Cosmos “will bring vastly improved utility and liquidity to appchains and their users, all while offering exposure to yielding instruments,” Ondo’s founder Nathan Allman said.
The company aims to bring corporate bonds to blockchain rails, which could have averted a similar credit meltdown to what happened in crypto in 2022, CEO and co-founder Max Boonen said in an interview.
The tokenized U.S. Treasury market is poised to reach $1 billion “very soon” given the growth of BlackRock’s BUIDL, an analyst noted.
The allocation marks to first example of a crypto protocol leveraging BlackRock’s tokenized fund for its own offering.